Shares of Syngene International closed 12% higher in Wednesday’s trade on October 28, settling at ₹411 apiece, its highest level in two months and its biggest single-day gain in six years.
The rally followed the company’s September-quarter results, which showed a sequential improvement in net profit, even as its year-on-year profit declined. The contract research and manufacturing services (CRAMS) firm posted a consolidated net profit of ₹32.2 crore in the September quarter (Q2FY27), marking a sharp turnaround from a net loss of ₹9 crore in the first quarter of FY27.
However, the profit was down from ₹67.1 crore in September 2025 quarter. Its revenue from operations stood at ₹832.7 crore, compared with ₹910.6 crore a year earlier, according to the company’s filing. On a QoQ basis, the revenue improved by 13%.
In terms of operating profitability, Syngene posted EBITDA of ₹147 crore, up from ₹91 crore in the June quarter but down from ₹200 crore in the year-ago period. EBITDA margin stood at 18%, down from 22% in Q2 FY26 but improved from 12% in the June-ending quarter.
Executive Chairperson Kiran Mazumdar-Shaw said Syngene’s strategic priority remains to strengthen its position as an integrated research, development, and manufacturing partner to the global life sciences industry, with a renewed emphasis on differentiated, high-value services and CDMO capabilities as key drivers of long-term growth.
Kiran said it is encouraging to see early signs of progress in this direction, with improved performance in the CDMO business and growing customer engagement across its development and manufacturing services. This reinforces the company’s confidence in the long-term potential of its investments in global manufacturing infrastructure, advanced capabilities, and emerging modalities.
Commenting on the performance, Managing Director and CEO Siddharth Mittal said the second quarter saw sequential revenue growth of 13%, supported by positive traction in the CDMO business. Operating EBITDA margin improved by 6 percentage points, while PAT stood at ₹32 crore, compared with a loss of ₹9 crore in the preceding quarter.
On a year-on-year basis, Mittal said revenue declined 9%, while operating EBITDA margin stood at 18%, in line with expectations, primarily reflecting lower Zoetis revenues and forex hedge losses. Adjusted for the forex hedge loss, the operating EBITDA margin would be in the mid-20s range for the quarter.
The shares have struggled to regain upward momentum, remaining under severe selling pressure for nearly two years and hitting multi-year lows. Earlier this month, the stock fell to its lowest level since June 2020 as the sell-off showed no signs of easing.
Based on Wednesday’s closing price of ₹411 apiece, the stock was down 57% from its record high of ₹960. In terms of yearly performance, the stock has declined 37% so far in 2026, following a 24% fall in 2025.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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