Thanks a lot for your detailed analysis Mahesh. It helped me a lot to understand this company in a better way.
I went through its DRHP doc and have some questions on that.. would be great if you/others can throw some light on that to understand it better:
It’s mentioned that, as on March 31,2015 they had around 2685 employees and out of which 258 are PHD’s and 1665 are Masters(degree in Science). Out of 1665, 400 employees are dedicated to BM R&D Center..
And during last fiscal, they serviced 221 clients. Since company works like a R&D center for clients where dedicated employees are required, I was wondering how company is able to manage less than 6 resources per client(for remaining ones)
However, I completely agree that it has got a great potential to grow in future.
I understand that, Quintiles also works in the same domain. Any inputs on sourcing the brokerage reports/industry reports to understand Syngene in better way would be of great help.
Thanks
Disc: Invested.. 1% of portfolio. waiting for some correction to add more 
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