Nanocomposite microcapsules of silica and surfactants have been synthesized using evaporation induced self-assembly through spray drying. It was established using electron microscopy and small-angle neutron/X-ray scattering experiments that the viscosity of the virgin dispersion and surface charge of colloidal components play a significant role in the buckling of spray droplets during drying. Hollow spherical grains are realized at relatively low viscosity and higher surface charge while mushroom like grains manifest at higher viscosity and lower surface charge. In the intermediate conditions, deformed doughnut shaped microcapsules are obtained. Scattering experiments establish the presence of the organization of micelle like aggregates of surfactants in the dried grains and also corroborate with the observations from electron microscopy. A plausible mechanism regarding the chronological pathways of morphological transformation is illustrated. Computer simulation, based on buckling of an elastic shell using a surface evolver, has been attempted in order to corroborate the experimental results.