Syncom Formulations (India) logo

Syncom Formulations (India) MD, chairman, board of directors and AGM

NSE: SYNCOMFBSE: 524470Pharmaceuticals & BiotechnologySmall Cap

Last close ₹21.19down ₹0.89 (4.03%)BSE ₹21.21

Share price at the NSE close on 23 Oct 2026. Previous close ₹22.08.

52-week range of traded prices to 23 Oct 2026
₹10.21Low, 30 Mar 2026₹27.49High, 30 Sep 2026
Market cap
₹1,992 Cr1,369th largest listed
P/E
23.3
P/B
4.8
Dividend yield
0.47%
ROE
22.6%
ROCE
19.5%
Debt to equity
0.00
Volume, NSE
1,49,43,85329.0% delivered

Syncom Formulations (India) board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonAnkit Kedarmal Bankda
  • Managing directorRahul Vijay Bankda
  • Company Secretary and Compliance OfficerVAISHALI AGRAWAL

6 directors3 independent3 executive

  • Ankit Kedarmal Bankda · ChairpersonExecutive · joined Aug 2025 · 1 listed board
  • Ruchi JindalIndependent · joined Jun 2022 · 51 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Ritesh Kumar LunkadIndependent · joined Aug 2023 · 37 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Ankit JainIndependent · joined Aug 2023 · 37 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • Rahul Vijay Bankda · Managing directorExecutive · joined Aug 2026 · 1 listed board
  • Rinki Ankit BankdaExecutive · joined Aug 2026 · 1 listed board

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

2 directors who left
  • Kedarmal Shankarlal Bankda, left 11 Aug 2026: Others
  • Vijay Shankarlal Bankda, left 11 Aug 2026: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 11 Aug 20266 of 6 present3 independent · 80 days in between
    • 22 May 20266 of 6 present3 independent
  • Audit Committee

    Chair Ankit Jain

    Ritesh Kumar Lunkad, Ruchi Jindal

    • 11 Aug 20263 of 3 present3 independent · 80 days in between
    • 22 May 20263 of 3 present3 independent
  • Nomination and remuneration committee

    Chair Ankit Jain

    Ritesh Kumar Lunkad, Ruchi Jindal

    • 11 Aug 20263 of 3 present3 independent · 80 days in between
    • 22 May 20263 of 3 present3 independent
  • Stakeholders Relationship Committee

    Chair Ankit Jain

    Ritesh Kumar Lunkad, Ruchi Jindal

    • 21 Aug 20263 of 3 present3 independent · 90 days in between
  • Risk Management Committee

    Chair Rahul Vijay Bankda

    Ankit Kedarmal Bankda, Ankit Jain

    • 11 Aug 20263 of 3 present1 independent
  • Corporate Social Responsibility Committee

    Chair Rinki Ankit Bankda

    Ankit Jain, Rahul Vijay Bankda

    • 22 May 20263 of 3 present1 independent
  • Independent Director Committee

    Chair Ankit Jain

    Ritesh Kumar Lunkad, Ruchi Jindal

    No meeting listed in the filing.

  • CORPORATE COMPLIANCE COMMITTEE

    • 11 Aug 20263 of 3 present3 independent · 80 days in between
    • 22 May 20263 of 3 present3 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Sanjay Mehta And Associates, Chartered AccountantsPeer-review certificate valid to Mar 2027
1 earlier auditor
  • Sanjay Mehta & AssociatesNamed in the filing for the quarter to Jun 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Syncom Formulations (India) AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Syncom Formulations (India) dividend history

Annual general meeting, 30 Sep 2026

4,24,429 shareholders on the register on 23 Sep 2026; present: 12 promoters and 61 others; votes counted by ANISH GUPTA / VKMG & ASSOCIATES LLP.The company's voting result (opens in a new tab)

  1. Adoption of the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.36%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  2. Declaration of dividend on 94,00,00,000 equity shares at the rate of 10% i.e. Rs. 0.10 per equity share of face value of Rs. 1/- each for the financial year ended 31st March, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.79%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  3. Re-appointment of Mr. Ankit Kedarmal Bankda (DIN: 02359461), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.50%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  4. Ratification of the remuneration payable to M/s M. Goyal & Co., Cost Accountants, Cost Auditor of the Company for the financial year 2026-27.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.48%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  5. Confirmation of the appointment of Mr. Rahul Vijay Bankda (DIN: 00827827) as a Director of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.47%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  6. Confirmation and approval of the appointment of Mr. Rahul Vijay Bankda (DIN: 00827827) as the Managing Director of the Company and approval of the remuneration payable to him.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.64%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  7. Confirmation of the appointment of Mrs. Rinki Ankit Bankda (DIN: 06946754) as a Director of the Company.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.54%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  8. Confirmation and approval of the appointment of Mrs. Rinki Ankit Bankda (DIN: 06946754) as the Whole-Time Director of the Company and approval of the remuneration payable to her.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.59%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

  9. Approval for the increase in the remuneration payable to Mr. Ankur Vijay Bankda, Chief Financial Officer pursuant to Section 188(1)(f) of the Companies Act, 2013.
    OrdinaryPromoters have an interest in it
    97.79% for2.21% against

    Against: promoters 0.00% · institutions 99.63% · other public 0.86%

    Turnout: all 24.49% · promoters 47.05% · institutions 37.31% · other public 0.32%

  10. Re-appointment of Mrs. Ruchi Jindal (DIN: 09633465) as a Woman Independent Director of the Company for a second term.
    Special
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 10.12% · other public 5.44%

    Turnout: all 51.26% · promoters 100.00% · institutions 37.31% · other public 0.32%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 29 Sep 2025, 8 resolutions

4,67,867 shareholders on the register on 22 Sep 2025; present: 11 promoters and 69 others; votes counted by ANISH GUPTA / VKMG & ASSOCIATES LLP.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Financial Statements for the financial year ended 31st March, 2025 along with the Reports of Directors and Auditors thereon:
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.11%

    Turnout: all 50.76% · promoters 100.00% · institutions 57.99% · other public 0.27%

  2. Ratification of the remuneration of Cost Auditor of the company for the Financial Year 2025-26.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.28%

    Turnout: all 50.76% · promoters 100.00% · institutions 57.99% · other public 0.27%

  3. Confirmation of the appointment of M/s D.K. Jain & Co., Practicing Company Secretary as the Secretarial Auditors of the company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.11%

    Turnout: all 50.76% · promoters 100.00% · institutions 57.99% · other public 0.27%

  4. Confirmation of the appointment of Shri Ankit Kedarmal Bankda (DIN: 02359461) as a Director of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 50.76% · promoters 100.00% · institutions 57.99% · other public 0.27%

  5. Confirmation and Approval of the appointment of Shri Ankit Kedarmal Bankda (DIN: 02359461) as the Executive Chairman and Whole-time Director and to approve the remuneration payable to him
    Special
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 97.95% · other public 1.02%

    Turnout: all 50.76% · promoters 100.00% · institutions 57.99% · other public 0.27%

  6. Approval for the increase in the remuneration payable to Mr. Rahul Vijay Bankda, Chief Financial Officer pursuant to section 188(1)(f) of the Companies Act, 2013
    OrdinaryPromoters have an interest in it
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 97.95% · other public 23.18%

    Turnout: all 12.63% · promoters 24.60% · institutions 57.99% · other public 0.27%

  7. Confirmation and Approval of the Alteration in the Articles of Association (“AOA”) of the Company
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 18.54%

    Turnout: all 50.76% · promoters 100.00% · institutions 57.99% · other public 0.27%

  8. Confirmation and Approval of Alteration in the Clause III(A) of Memorandum of Association(“MOA”) of the Company
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 18.57%

    Turnout: all 50.76% · promoters 100.00% · institutions 57.99% · other public 0.27%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 30 Sep 2024, 5 resolutions

Present: 9 promoters and 46 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2024 alongwith the Reports ofBoard of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.23%

    Turnout: all 46.48% · promoters 91.58% · institutions 4.16% · other public 0.33%

  2. Appointment of Director in place of Shri Vijay Shankarlal Bankda (DIN: 00023027), who is liable to retire by rotation at this Annual General Meeting and being eligible offers himself for re-appointment.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.85%

    Turnout: all 46.48% · promoters 91.58% · institutions 4.16% · other public 0.33%

  3. Ratification of the remuneration of Cost Auditor of the company for the Financial Year 2024-25.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.48%

    Turnout: all 46.48% · promoters 91.58% · institutions 4.16% · other public 0.32%

  4. Re-appointment of Shri Kedarmal Shankarlal Bankda (DIN:00023050) as the Executive Chairman/ Whole-time Director.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.77%

    Turnout: all 46.48% · promoters 91.58% · institutions 4.16% · other public 0.33%

  5. Re-appointment of Shri Vijay Shankarlal Bankda (DIN:00023027) as the Managing Director of the Company and to approve the payment of remuneration to him.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.32%

    Turnout: all 46.48% · promoters 91.58% · institutions 4.16% · other public 0.33%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 26 Sep 2023, 5 resolutions

Present: 10 promoters and 58 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended 31stMarch, 2023alongwith the Reports ofBoard of Directors and Auditors thereon
    Ordinary
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 0.00% · other public 48.70%

    Turnout: all 46.63% · promoters 91.57% · institutions 0.00% · other public 0.65%

  2. Appointment of Director in place of Shri Kedarmal Shankarlal Bankda (DIN: 00023050), who is liable to retire by rotation at this Annual General Meeting and being eligible offers himself for re-appointment.MoreLess
    Ordinary
    99.66% for0.34% against

    Against: promoters 0.00% · institutions 0.00% · other public 49.78%

    Turnout: all 46.62% · promoters 91.57% · institutions 0.00% · other public 0.64%

  3. Ratification of the remuneration of Cost Auditor of the company for the Financial Year 2023-24.
    Ordinary
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 0.00% · other public 46.85%

    Turnout: all 46.63% · promoters 91.57% · institutions 0.00% · other public 0.64%

  4. Confirmation of Appointment of Shri Ritesh Kumar Lunkad (DIN: 10275445) as a Non-Executive Independent Director of the Company.
    Special
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 0.00% · other public 47.03%

    Turnout: all 46.63% · promoters 91.57% · institutions 0.00% · other public 0.65%

  5. Approval and Confirmation of the Appointment of Shri Ankit Jain (DIN: 05341403) as an Independent Director of the Company.
    Special
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 0.00% · other public 46.88%

    Turnout: all 46.63% · promoters 91.57% · institutions 0.00% · other public 0.65%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 29 Sep 2025, 2 fund houses

  • Adoption of the Audited Financial Statements for the financial year ended 31st March, 2025 along with the Reports of Directors and Auditors thereon:
    2 for0 against
  • Ratification of the remuneration of Cost Auditor of the company for the Financial Year 2025-26.
    2 for0 against
  • Confirmation of the appointment of M/s D.K. Jain & Co., Practicing Company Secretary as the Secretarial Auditors of the company
    2 for0 against
  • Confirmation of the appointment of Shri Ankit Kedarmal Bankda (DIN: 02359461) as a Director of the Company.
    2 for0 against
  • Confirmation and Approval of the appointment of Shri Ankit Kedarmal Bankda (DIN: 02359461) as the Executive Chairman and Whole-time Director and to approve the remuneration payable to him
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundIn FY25, Ankit Kedarmal Bankda received Rs. 2.8 mn as remuneration as CFO. As Executive Chairperson, he is eligible to get Rs. 13.8 mn as salary and other benefits plus commission. However, no guidance has been provided regarding commission payout. Therefore, we are unable to estimate the overall annual remuneration. The company must cap the remuneration in absolute terms and disclose the performance parameters that govern the variable pay. While we support his appointment on the board, we do not support the remuneration structure. Therefore, we do not support the resolution.
    1 for1 against
  • Approval for the increase in the remuneration payable to Mr. Rahul Vijay Bankda, Chief Financial Officer pursuant to section 188(1)(f) of the Companies Act, 2013
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundRahul Vijay Bankda, 45, was appointed as CFO of Syncom Formulations (India) Limited on 9 August 2025. Before that, he was President, Domestic Marketing of the company. He has been associated with the company since January 1999. In FY25, he received Rs. 2.8 mn as remuneration as President, Domestic Marketing of the company. It is unclear if Rahul Vijay Bankda possesses the requisite qualifications to serve as CFO of a listed company. As CFO, we estimate his FY26 remuneration at Rs. 5.0 mn per annum with an annual increment of 10%. In comparison, in FY25, the then CFO, Ankit Kedarmal Bankda, was paid Rs. 2.8 mn as remuneration. There is no clarity on how the company has benchmarked the proposed remuneration against peers in similar roles. He is eligible for a 10% fixed increment every year, which makes the resolution effectively perpetual in nature. We also raise concern that three members of the promoter family are on the board and six hold office of profit positions, which may limit the company from being able to attract the right professional talent. We do not support the resolution.
    1 for1 against
  • Confirmation and Approval of the Alteration in the Articles of Association (“AOA”) of the Company
    2 for0 against
  • Confirmation and Approval of Alteration in the Clause III(A) of Memorandum of Association(“MOA”) of the Company
    2 for0 against

Mutual fund votes, meeting of 30 Sep 2024, 2 fund houses

  • Adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2024 alongwith the Reports ofBoard of Directors and Auditors thereon
    2 for0 against
  • Appointment of Director in place of Shri Vijay Shankarlal Bankda (DIN: 00023027), who is liable to retire by rotation at this Annual General Meeting and being eligible offers himself for re-appointment.MoreLess
    2 for0 against
  • Ratification of the remuneration of Cost Auditor of the company for the Financial Year 2024-25.
    2 for0 against
  • Re-appointment of Shri Kedarmal Shankarlal Bankda (DIN:00023050) as the Executive Chairman/ Whole-time Director.
    2 for0 against
  • Re-appointment of Shri Vijay Shankarlal Bankda (DIN:00023027) as the Managing Director of the Company and to approve the payment of remuneration to him.
    2 for0 against
2 earlier meetings

Mutual fund votes, meeting of 26 Sep 2023, 1 fund house

  • Adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended 31stMarch, 2023alongwith the Reports ofBoard of Directors and Auditors thereon
    1 for0 against
  • Appointment of Director in place of Shri Kedarmal Shankarlal Bankda (DIN: 00023050), who is liable to retire by rotation at this Annual General Meeting and being eligible offers himself for re-appointment.MoreLess
    1 for0 against
  • Ratification of the remuneration of Cost Auditor of the company for the Financial Year 2023-24.
    1 for0 against
  • Confirmation of Appointment of Shri Ritesh Kumar Lunkad (DIN: 10275445) as a Non-Executive Independent Director of the Company.
    1 for0 against
  • Approval and Confirmation of the Appointment of Shri Ankit Jain (DIN: 05341403) as an Independent Director of the Company.
    1 for0 against

Mutual fund votes, meeting of 19 Sep 2022, 1 fund house

  • Approval of the appointment of Smt. Ruchi Jindal (DlN: 09633465) as an Independent Women Director of the Company who shall not Iiable to retire by rotation, to hold office for a term of 5 consecutive years w.e.f 28th June 2022.MoreLess
    1 for0 against
  • Ratification of remuneration of Rs.35,000/- plus applicable taxes and reimbursement of out of pocket expenses at actuals to M/s M. Goyal & Co., (Firm Registration No.000051) as appointed by the Board of Directors of the Company upon the recommendation of the Audit Committee, as the Cost Auditors to conduct the audit of the cost records of the Company for the Financial Year 2022-23.MoreLess
    1 for0 against
  • Re-appointment of Smt. Rinki Ankit Bankda (DlN:06946754) as the Whole-time Director of the company for a further period of 3 years w.e.f- 15th November 2022 and including remuneration.
    1 for0 against
  • To appoint a director in place of Smt. Rinki Ankit Bankda (DlN: 06946754), Director who is liable to retire by rotation at this Annual General Meeting and being eligible offers herself for re-appointment.MoreLess
    1 for0 against
  • To consider re-appointment of M/s. Sanjay Mehta & Associates, Chartered Accountants having ICAI Firm Registration No. 011524C, as the Statutory Auditors of the Company for second term of five consecutive years, who shall hold office from the conclusion of 34th Annual General Meeting till the conclusion of the 39th Annual General Meeting to be held in the calendar year 2027 at such remuneration.MoreLess
    1 for0 against
  • To declare dividend on equity shares of the Company for the Financial Year ended 31st March,2022.
    1 for0 against
  • To receive, consider, approve and adopt the Standalone Audited Financial Statements containing the Balance Sheet as at 31st March, 2022, the Statement of Profit & Loss and Cash Flow and Changes in Equity, for the financial year ended 31st March, 2022 and the Reports of the Boards and Auditors thereon as on that date.MoreLess
    1 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeCGST AUDIT II MUMBAISince 4 Apr 2025
    The Company has received a revised demand and interest notice dated 31 December 2025 (received on 02 January 2026) from the Office of the Superintendent, Range-V, Division X, Mumbai-East, CBIC, alleging availment of ineligible Input Tax Credit on certain input services. The demand has been raised under Sections 74(5) and 122 of the CGST Act, 2017, aggregating to ₹1,41,78,604/- (comprising ₹70,89,302/- towards tax and ₹70,89,302/- towards penalty), payable on or before 31 January 2026. The Company had earlier examined the matter and applied for appeal; however, the same was not accepted, resulting in issuance of the revised notice. The Company is currently seeking further professional advice and proposes to pursue appropriate appellate remedies before the relevant authority while continuing to ensure compliance with all applicable laws and regulations.MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 1 complaint open, quarter to Jun 2026.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.