Shares of Syngene International plunged more than 9% to hit a 52-week low in early trade on Thursday after the company reported a loss for the quarter ended June 30, 2026. The stock opened sharply lower at ₹391 and slipped to a low of ₹375.25 on the National Stock Exchange (NSE). As of 9:30 AM, the stock was trading 8.8% lower at ₹377.80, with around 2 million shares changing hands. The sharp decline reflects investor concerns over the company's financial performance and revised outlook.
Contract research and manufacturing services company Syngene International has accepted the resignation of Kush Parmar as Independent Director effective July 29, 2026, due to increasing commitments in the United States. According to the latest regulatory filing, Parmar, who holds DIN 09212020 and resides at 230 Dudley Rd., Newton, MA 02459, USA, cited personal professional constraints as the primary reason for his departure. The resignation was accepted by the Board on July 29, 2026, and complies with SEBI Listing Regulations under Para A(7B) of Part A of Schedule III. Parmar will also cease to be a member of the Risk Management Committee and Science and Technology Committee where he previously served.
Contract research and manufacturing services company Syngene International reported a consolidated net loss of ₹9 crore in the first quarter of FY27, compared with a consolidated net profit of ₹86.7 crore in the corresponding quarter of the previous fiscal year. According to the latest regulatory filing, revenue from operations fell 16 percent year-on-year to ₹736 crore, while total expenses were lower at ₹767 crore compared to ₹790.9 crore in the year-ago period. The company's EBITDA margin contracted significantly to 12 percent from 24 percent a year earlier, reflecting the impact of challenging market conditions. As per CNBC TV18, the quarterly performance was impacted by lower offtake from a key biologics client and forex hedge losses, although cost optimisation measures helped partly cushion the impact. The latest results also include an additional ₹13.5 crore in termination benefits under exceptional items, further impacting the bottom line.
Management expects the first half of FY27 to remain challenging, with revenue likely to decline during the period. However, it anticipates business momentum to improve in the second half, which should partly offset the weak first-half performance. As a result, Syngene now expects a low-single-digit revenue decline in local currency terms for FY27, revising its earlier guidance of flat revenue growth provided after the March quarter. Despite the weaker revenue outlook, the company has maintained its FY27 EBITDA margin guidance in the mid-20% range. According to CNBC TV18, shares of Syngene International ended 1.1% higher at ₹413.50 on Wednesday, though the stock has declined more than 36% so far this year. The recent market reaction suggests investor concerns over the company's ability to execute its turnaround strategy amid challenging market conditions.
The quarter also marked a significant leadership transition, with Kiran Mazumdar-Shaw taking over as Executive Chairperson, as the company prepares for its next phase of growth. According to CNBC TV18, newly appointed Managing Director and CEO Siddharth Mittal outlined the company's immediate priorities as sharpening commercial execution, strengthening delivery across businesses and building a more agile and cost-competitive organisation. Executive Chairperson Kiran Mazumdar-Shaw expressed confidence in management's ability to execute the strategy and create long-term value, stating that the company is repositioning itself for its next phase of growth driven by CDMO and AI-led advanced services. During the quarter, Syngene signed a memorandum of understanding with BRIC-Translational Health Science and Technology Institute (THSTI) to collaborate on clinical development, translational research and bioanalytical sciences. The company also expanded its Syn.AI platform with gigascale virtual screening and AI-driven de novo drug design capabilities.
