---
title: "Syndicate Bank(Merged) (SYNDIBANK) — Share Price, Financials & Analysis"
symbol: "SYNDIBANK"
company: "Syndicate Bank(Merged)"
canonical: "https://tapetide.com/stocks/SYNDIBANK"
isin: "INE667A01018"
nse_symbol: "SYNDIBANK"
generated_at: "2026-09-13T21:47:25.300Z"
---

# Syndicate Bank(Merged) (SYNDIBANK)

Canonical page: https://tapetide.com/stocks/SYNDIBANK

## Company

- **NSE Symbol:** SYNDIBANK
- **ISIN:** INE667A01018
- **Stock Type:** DELISTED
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** syndicatebank.in

## About

Syndicate Bank is an India-based bank, which provides a range of banking services. The Bank's segments include Treasury, Corporate/Wholesale Banking, Banking and Other Banking Operations. The Bank offers deposits, including current and term deposits; loans, including retail loans, agricultural loans and priority sector loan, small and medium enterprises (SME) loan and corporate finance.

## Latest Price

## Key Insights

### Strengths

- Company's working capital requirements have reduced from 158 days to 88.6 days

### Weaknesses

- Stock is trading at 4.48 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 3.13% over past five years.
- Company has a low return on equity of -10.5% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 19% | -30% | — |
| revenue growth | 0% | -2% | 3% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Jun 2012 | Sep 2012 | Dec 2012 | Mar 2013 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4125 | 4242 | 4276 | 4221 | 4381 | 5257 | 5399 | 5459 | 5610 | 5545 | 5407 | 5403 |
| Expenses | 1427 | 1226 | 1297 | 1335 | 1206 | 3654 | 3709 | 2101 | 2512 | 3487 | 2168 | 2494 |
| Operating Profit | 2698 | 3017 | 2979 | 2886 | 3176 | 1603 | 1690 | 3358 | 3099 | 2058 | 3239 | 2909 |
| OPM % | 65 | 71 | 70 | 68 | 72 | 30 | 31 | 62 | 55 | 37 | 60 | 54 |
| Other Income | 300 | 236 | 270 | 269 | 600 | 380 | 490 | 619 | 735 | 536 | 746 | 914 |
| Interest | 2788 | 2923 | 2885 | 2821 | 3037 | 3751 | 3827 | 3840 | 3658 | 3753 | 3668 | 3531 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 209 | 329 | 364 | 335 | 739 | -1768 | -1647 | 137 | 176 | -1159 | 318 | 291 |
| Tax % | -48 | -34 | -27 | -52 | -7 | -28 | -6 | 21 | 27 | -15 | 21 | -49 |
| Net Profit | 310 | 441 | 464 | 509 | 793 | -1238 | -1519 | 121 | 116 | -957 | 92 | 480 |
| EPS in Rs | 5.14 | 7.32 | 7.7 | 8.45 | 13.18 | -8.74 | -10.72 | 0.76 | 0.47 | -3.57 | 0.34 | 1.79 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 11451 | 15268 | 17121 | 18621 | 21615 | 23198 | 23004 | 21776 | 21725 | 21965 |
| Expenses | 3940 | 4706 | 4965 | 5104 | 5448 | 9315 | 8942 | 13508 | 11759 | 10661 |
| Operating Profit | 7510 | 10562 | 12155 | 13517 | 16167 | 13883 | 14061 | 8268 | 9966 | 11304 |
| OPM % | 66 | 69 | 71 | 73 | 75 | 60 | 61 | 38 | 46 | 51 |
| Other Income | 915 | 1076 | 1174 | 1324 | 2110 | 2509 | 3458 | 2806 | 2224 | 2930 |
| Interest | 7068 | 10183 | 11666 | 13080 | 16094 | 17212 | 16727 | 15223 | 15076 | 14610 |
| Depreciation | 71 | 66 | 101 | 118 | 187 | 199 | 137 | 238 | 217 | 0 |
| Profit before tax | 1286 | 1389 | 1563 | 1643 | 1996 | -1020 | 655 | -4387 | -3103 | -375 |
| Tax % | 18 | 5 | -28 | -4 | 24 | 61 | 45 | -27 | -17 | — |
| Net Profit | 1049 | 1314 | 2206 | 1855 | 1664 | -1517 | 517 | -3112 | -2524 | -269 |
| EPS in Rs | 18.29 | 21.83 | 36.65 | 29.7 | 25.13 | -21.57 | 5.72 | -21.96 | -10.15 | -0.97 |
| Dividend Payout % | 20 | 17 | 18 | 19 | 19 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 522 | 573 | 602 | 602 | 625 | 662 | 703 | 905 | 1417 | 2488 |
| Reserves | 5107 | 6480 | 8443 | 11265 | 12334 | 13644 | 13750 | 14810 | 15155 | 16288 |
| Borrowings | 129196 | 145121 | 168527 | 198165 | 231561 | 281883 | 287227 | 278023 | 302375 | 285488 |
| Other Liabilities | 4225 | 4364 | 4896 | 6411 | 8449 | 8185 | 7652 | 6853 | 6646 | 8707 |
| Total Liabilities | 139051 | 156539 | 182468 | 216443 | 252969 | 304375 | 309333 | 300590 | 325593 | 312971 |
| Fixed Assets | 683 | 677 | 1328 | 1407 | 1433 | 1511 | 2376 | 2428 | 2450 | 2563 |
| CWIP | 19 | 16 | 24 | 27 | 36 | 98 | 31 | 26 | 28 | 9 |
| Investments | 33011 | 35067 | 40815 | 46968 | 56647 | 70579 | 69988 | 66982 | 81970 | 77763 |
| Other Assets | 105339 | 120778 | 140301 | 168041 | 194853 | 232187 | 236939 | 231154 | 241145 | 232635 |
| Total Assets | 139051 | 156539 | 182468 | 216443 | 252969 | 304375 | 309333 | 300590 | 325593 | 312971 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1712 | -749 | 2248 | 2497 | -429 | 8476 | 3938 | -4978 | -7314 | -7234 |
| Cash from Investing Activity | -58 | -73 | -113 | -213 | -182 | -354 | -305 | -183 | -262 | -142 |
| Cash from Financing Activity | 99 | 53 | -216 | 415 | -965 | 703 | 1751 | 1178 | 3861 | 3017 |
| Net Cash Flow | -1671 | -768 | 1919 | 2700 | -1577 | 8824 | 5384 | -3983 | -3716 | -4359 |
| Free Cash Flow | -1770 | -821 | 2134 | 2284 | -612 | 8122 | 3633 | -5161 | -7577 | -7376 |
| CFO/OP | -23 | -10 | 21 | 21 | -3 | 57 | 34 | -30 | -81 | -63 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | 128 | -26 | 71 | 127 | -4 | 157 | 229 | 183 | 203 | 89 |
| ROCE % | 6 | 6 | 7 | 7 | 6 | 7 | 5 | 6 | 4 | 4 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Dec 2019 |
| --- | --- | --- | --- | --- |
| Promoters | 72.92% | 73.07% | 84.66% | 78.48% |
| FIIs | 4.07% | 3% | 1.59% | 1.89% |
| DIIs | 12.11% | 16.31% | 9.11% | 8.08% |
| Public | 10.9% | 7.62% | 4.64% | 11.55% |
| No. of Shareholders | 260146 | 251296 | 255405 | 285306 |

### Quarterly

| Category | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 72.92% | 72.92% | 72.92% | 63.34% | 73.07% | 73.07% | 73.07% | 76.16% | 84.66% | 78.48% | 78.48% | 78.48% |
| FIIs | 4.07% | 4.29% | 4.46% | 4.6% | 3% | 2.39% | 2.36% | 2.17% | 1.59% | 1.82% | 1.91% | 1.89% |
| DIIs | 12.11% | 12.19% | 11.83% | 22.36% | 16.31% | 16.34% | 16.05% | 14.46% | 9.11% | 8.19% | 8.14% | 8.08% |
| Public | 10.9% | 10.61% | 10.79% | 9.7% | 7.62% | 8.2% | 8.53% | 7.22% | 4.64% | 11.51% | 11.47% | 11.55% |
| No. of Shareholders | 260146 | 256522 | 255410 | 248400 | 251296 | 253881 | 257555 | 257971 | 255405 | 283911 | 284408 | 285306 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 6 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 94.54 | Sell |
| EMA (10) | 93.96 | Sell |
| SMA (20) | 99.66 | Sell |
| EMA (20) | 99.04 | Sell |
| SMA (50) | 115.47 | Sell |
| EMA (50) | 114.9 | Sell |
| SMA (100) | 144.77 | Sell |
| EMA (100) | 143.41 | Sell |
| SMA (200) | 162.11 | Sell |
| EMA (200) | 178.27 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 34.28 | Neutral |
| MACD (12,26,9) | -7.16 | Sell |
| Stochastic (14,3,3) | 22.25 | Neutral |
| ADX (14) | 35.53 | Buy |
| Williams %R (14) | -77.23 | Neutral |
| ATR (14) | 5.72 | High Volatility |
| ROC (12) | -9.23 | Sell |
| Stoch RSI (14) | 52.28 | Neutral |
| UO (7,14,28) | 36.12 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| — | [Appointment Of Executive Directors 19 Mar 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4a3a45e2-d4d8-4a77-9ba6-620b0725453f.pdf) |
| — | [Appointment Of Executive Directors 19 Mar 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4a3a45e2-d4d8-4a77-9ba6-620b0725453f.pdf) |
| — | [Amalgamation Of Syndicate Bank Into Canara Bank 17 Mar 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cfb555ba-ab47-4260-9102-5b37f963338d.pdf) |
| — | [Amalgamation Of Syndicate Bank Into Canara Bank 17 Mar 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cfb555ba-ab47-4260-9102-5b37f963338d.pdf) |
| — | [Loss of Share Certificate / Issue of Duplicate Share Certificate 16 Mar 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=48D19028-8A87-4811-ADDC-5779E5B04CDB-142207.pdf) |
| — | [Loss of Share Certificate / Issue of Duplicate Share Certificate 16 Mar 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/48D19028-8A87-4811-ADDC-5779E5B04CDB-142207.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Interest Rates Updates 12 Mar 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=93b133d9-bad4-4c8f-a493-40aaf6d7dffb.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Interest Rates Updates 12 Mar 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/93b133d9-bad4-4c8f-a493-40aaf6d7dffb.pdf) |
| — | [Equity Share Exchange Ratio For Amalgamation Of Syndicate Bank With Canara Bank-Swap Ratio Announcement Date 5 Mar 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1208ff3d-5381-4d5c-9f6c-bebdd839d330.pdf) |
| — | [Equity Share Exchange Ratio For Amalgamation Of Syndicate Bank With Canara Bank-Swap Ratio Announcement Date 5 Mar 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1208ff3d-5381-4d5c-9f6c-bebdd839d330.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2017 | [Concall - Nov 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b1d0e37f-2e2f-4153-be53-62e3f247f78e.pdf) |
| Nov 2017 | [Concall - Nov 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/11/b1d0e37f-2e2f-4153-be53-62e3f247f78e.pdf) |
| May 2019 | [Concall - May 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1b42feb8-141f-4b89-b53e-0e4c3b18f6b3.pdf) |
| May 2019 | [Concall - May 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1b42feb8-141f-4b89-b53e-0e4c3b18f6b3.pdf) |
| May 2018 | [Concall - May 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=df86b3e5-0438-437a-868e-efb0f0e65f72.pdf) |
| May 2018 | [Concall - May 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/5/df86b3e5-0438-437a-868e-efb0f0e65f72.pdf) |
| Feb 2018 | [Concall - Feb 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b8472ad1-02f1-44e5-ae99-0bf00dbca476.pdf) |
| Feb 2018 | [Concall - Feb 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/2/b8472ad1-02f1-44e5-ae99-0bf00dbca476.pdf) |
| Feb 2017 | [Concall - Feb 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=BA6A9B4C_B21F_4477_A6E5_0ACFC46A47AF_160710.pdf) |
| Aug 2018 | [Concall - Aug 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2a60a752-4c41-4121-bb88-6c4effba0d48.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_SYNDIBANK_2011_2012_22062012102326.zip) |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_SYNDIBANK_2010_2011_17062011050505.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_SYNDIBANK_2009_2010_19082010120000.zip) |
| from nse | [Annual Report 2009 from nse](https://archives.nseindia.com/annual_reports/AR_SYNDIBANK_2008_2009_14082009114543.zip) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/532276/5322760319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532276/5322760318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532276/5322760317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532276/5322760316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532276/5322760315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/532276/5322760314.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T21:47:25.300Z.