About
Shilpa Medicare Limited offers pharmaceutical ingredients (APIs), finished dosage formulations, biosimilars, and contract development and manufacturing organisation (CDMO) services in India, the United States, Europe, and internationally. The company offers various oncology and non-oncology APIs, such as anastrozole, acebrophylline, ambroxol hydrochloride, axitinib, azacitidine, abiraterone acetate, bendamustine HCL monohydrate, bicalutamide, bortezomib, busulphan, cabazitaxel amorphous, capecitabine, clofarabine, cyclophosphamide, dasatinib, decitabine, dimethyl fumarate, erlotinib HCL, enzalutamide, fingolimod hydrochloride, gemcitabine HCl, ibrutinib, imatinib mesylate, irinotecan HCl trihydrate, lenalidomide, lenvatinib mesylate, letrozole, and melphalan HCL. It also provides nifedipine, oxaliplatin, pazopanib, pemetrexed disodium hemipentahydrate, pemetrexed dipotassium nonahydrate, pirfenidone, pomalidomide, sodium cholesteryl sulfate, sorafenib tosylate, sunitinib malate, temozolomide, teriflunomide, thalidomide, tranexamic and zoledronic acid, phenylephrine, citicholine, palbocicilib, nilotinib, nintedanib, praziquintol, carmustine, elthrombopag olamine, abacavir sulphate, tenofovir disproxyl fumarate API, tenofovir alfanamide, prucalopride succinate, and varenicline tartrate. In addition, the company offers GLP-1; HpAPI; intermediates; peptides; payloads and linkers; biopolymers; microbial and mammalian products; fermentation; small molecules; monoclonal antibodies and recombinant technology; and tablets, capsules, injectables, oral dissolving films, and transdermal patches. Further, it engages in wind power generation activities. The company serves wholesalers, distributors, doctors, pharmacy chain NGOs, hospitals, government institutions, and companies. The company was formerly known as Shilpa Antibiotics Ltd and changed its name to Shilpa Medicare Limited in February 2003. Shilpa Medicare Limited was incorporated in 1987 and is based in Raichur, India.
Key Metrics
as of Sep 2026Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 466.00 | 437.00 | 410.00 | 370.00 | 321.00 | 331.00 | 319.00 | 344.00 | 293.00 | 292.00 | 287.00 | 313.00 | 260.00 |
| Expenses | 330.00 | 317.00 | 296.00 | 262.00 | 231.00 | 252.00 | 239.00 | 258.00 | 222.00 | 222.00 | 222.00 | 255.00 | 214.00 |
| Operating Profit | 136.00 | 120.00 | 114.00 | 108.00 | 91.00 | 79.00 | 81.00 | 86.00 | 70.00 | 70.00 | 65.00 | 58.00 | 46.00 |
| OPM % | 29.00 | 27.00 | 28.00 | 29.00 | 28.00 | 24.00 | 25.00 | 25.00 | 24.00 | 24.00 | 23.00 | 19.00 | 18.00 |
| Other Income | 9.00 | 45.00 | -13.00 | 2.00 | 6.00 | -21.00 | 2.00 | 5.00 | 10.00 | 9.00 | 2.00 | 2.00 | 2.00 |
| Depreciation | 35.00 | 31.00 | 30.00 | 30.00 | 29.00 | 29.00 | 29.00 | 28.00 | 27.00 | 27.00 | 27.00 | 28.00 | 27.00 |
| Interest | 12.00 | 14.00 | 11.00 | 16.00 | 19.00 | 14.00 | 12.00 | 26.00 | 24.00 | 24.00 | 26.00 | 23.00 | 18.00 |
| Profit before tax | 98.00 | 120.00 | 61.00 | 64.00 | 50.00 | 15.00 | 42.00 | 37.00 | 29.00 | 28.00 | 14.00 | 9.00 | 3.00 |
| Tax % | -3.00 | 10.00 | 27.00 | 32.00 | 5.00 | 5.00 | 24.00 | 51.00 | 51.00 | 12.00 | 67.00 | 83.00 | 64.00 |
| Net Profit | 101.00 | 108.00 | 45.00 | 44.00 | 47.00 | 15.00 | 32.00 | 18.00 | 14.00 | 24.00 | 5.00 | 2.00 | 1.00 |
| EPS in Rs | 5.16 | 5.51 | 2.28 | 2.25 | 2.40 | 0.74 | 1.62 | 0.92 | 0.72 | 1.41 | 0.26 | 0.09 | 0.07 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,535.00 | 1,281.00 | 1,146.00 | 1,046.00 | 1,141.00 | 899.00 | 908.00 | 733.00 | 789.00 | 779.00 | 719.00 | 614.00 |
| Expenses | 1,100.00 | 962.00 | 907.00 | 947.00 | 940.00 | 718.00 | 688.00 | 585.00 | 634.00 | 614.00 | 566.00 | 485.00 |
| Operating Profit | 435.00 | 319.00 | 239.00 | 99.00 | 202.00 | 181.00 | 219.00 | 148.00 | 155.00 | 165.00 | 153.00 | 129.00 |
| OPM % | 28.00 | 25.00 | 21.00 | 9.00 | 18.00 | 20.00 | 24.00 | 20.00 | 20.00 | 21.00 | 21.00 | 21.00 |
| Other Income | 39.00 | -8.00 | 15.00 | 17.00 | 21.00 | 90.00 | 17.00 | 33.00 | 22.00 | 15.00 | 5.00 | 5.00 |
| Interest | 59.00 | 76.00 | 92.00 | 59.00 | 41.00 | 22.00 | 5.00 | 4.00 | 3.00 | 3.00 | 7.00 | 4.00 |
| Depreciation | 120.00 | 113.00 | 108.00 | 96.00 | 80.00 | 54.00 | 44.00 | 42.00 | 37.00 | 31.00 | 29.00 | 21.00 |
| Profit before tax | 295.00 | 122.00 | 54.00 | -38.00 | 102.00 | 195.00 | 188.00 | 136.00 | 137.00 | 146.00 | 122.00 | 108.00 |
| Tax % | 18.00 | 36.00 | 41.00 | -19.00 | 41.00 | 25.00 | 18.00 | 19.00 | 25.00 | 29.00 | 19.00 | 33.00 |
| Net Profit | 243.00 | 78.00 | 32.00 | -31.00 | 61.00 | 146.00 | 155.00 | 110.00 | 103.00 | 104.00 | 99.00 | 73.00 |
| EPS in Rs | 12.44 | 4.00 | 1.84 | -1.87 | 3.49 | 9.06 | 9.57 | 6.88 | 6.45 | 6.71 | 6.73 | 4.78 |
| Dividend Payout % | 5.00 | 12.00 | 0.00 | 0.00 | 16.00 | 6.00 | 6.00 | 7.00 | 5.00 | 4.00 | 4.00 | 6.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20.00 | 10.00 | 9.00 | 9.00 | 9.00 | 8.00 | 8.00 | 8.00 | 8.00 | 8.00 | 8.00 | 8.00 |
| Reserves | 2,572.00 | 2,353.00 | 1,800.00 | 1,775.00 | 1,814.00 | 1,471.00 | 1,321.00 | 1,189.00 | 1,077.00 | 979.00 | 639.00 | 539.00 |
| Borrowings | 660.00 | 588.00 | 937.00 | 798.00 | 683.00 | 846.00 | 390.00 | 194.00 | 191.00 | 241.00 | 221.00 | 189.00 |
| Other Liabilities | 455.00 | 360.00 | 347.00 | 323.00 | 370.00 | 308.00 | 270.00 | 218.00 | 223.00 | 244.00 | 194.00 | 169.00 |
| Total Liabilities | 3,706.00 | 3,311.00 | 3,093.00 | 2,904.00 | 2,876.00 | 2,632.00 | 1,989.00 | 1,610.00 | 1,499.00 | 1,472.00 | 1,062.00 | 905.00 |
| Fixed Assets | 1,593.00 | 1,418.00 | 1,385.00 | 1,368.00 | 1,342.00 | 1,111.00 | 650.00 | 558.00 | 534.00 | 492.00 | 580.00 | 316.00 |
| CWIP | 884.00 | 822.00 | 719.00 | 655.00 | 506.00 | 541.00 | 666.00 | 429.00 | 210.00 | 141.00 | 95.00 | 222.00 |
| Investments | 58.00 | 35.00 | 40.00 | 43.00 | 34.00 | 21.00 | 10.00 | 2.00 | 140.00 | 253.00 | 53.00 | 66.00 |
| Other Assets | 1,170.00 | 1,037.00 | 950.00 | 838.00 | 993.00 | 959.00 | 662.00 | 621.00 | 615.00 | 587.00 | 334.00 | 301.00 |
| Total Assets | 3,706.00 | 3,311.00 | 3,093.00 | 2,904.00 | 2,876.00 | 2,632.00 | 1,989.00 | 1,610.00 | 1,499.00 | 1,472.00 | 1,062.00 | 905.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 342.00 | 132.00 | 137.00 | 180.00 | 105.00 | 47.00 | 124.00 | 147.00 | 45.00 | 37.00 | 129.00 | 69.00 |
| Cash from Investing Activity | -339.00 | -198.00 | -171.00 | -232.00 | -286.00 | -404.00 | -290.00 | -196.00 | -10.00 | -257.00 | -106.00 | -196.00 |
| Cash from Financing Activity | 14.00 | 63.00 | 47.00 | 46.00 | 83.00 | 436.00 | 176.00 | 10.00 | -61.00 | 313.00 | -20.00 | 136.00 |
| Net Cash Flow | 17.00 | -3.00 | 13.00 | -7.00 | -98.00 | 79.00 | 10.00 | -39.00 | -26.00 | 93.00 | 3.00 | 9.00 |
| Free Cash Flow | -28.00 | -111.00 | -48.00 | -46.00 | -226.00 | -302.00 | -220.00 | -151.00 | -92.00 | -79.00 | 12.00 | -74.00 |
| CFO/OP % | 93.00 | 56.00 | 74.00 | 215.00 | 69.00 | 52.00 | 76.00 | 123.00 | 55.00 | 43.00 | 103.00 | 73.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 123.00 | 126.00 | 125.00 | 113.00 | 124.00 | 88.00 | 99.00 | 101.00 | 102.00 | 80.00 | 43.00 | 48.00 |
| Inventory Days | 291.00 | 309.00 | 309.00 | 280.00 | 338.00 | 427.00 | 298.00 | 266.00 | 194.00 | 187.00 | 161.00 | 147.00 |
| Days Payable | 113.00 | 93.00 | 156.00 | 125.00 | 139.00 | 91.00 | 122.00 | 115.00 | 106.00 | 110.00 | 101.00 | 85.00 |
| Cash Conversion Cycle | 301.00 | 342.00 | 278.00 | 268.00 | 323.00 | 425.00 | 275.00 | 253.00 | 189.00 | 157.00 | 104.00 | 111.00 |
| Working Capital Days | 51.00 | 80.00 | 48.00 | -13.00 | 77.00 | 72.00 | 68.00 | 98.00 | 98.00 | 79.00 | 27.00 | 33.00 |
| ROCE % | 11.00 | 8.00 | 5.00 | 1.00 | 6.00 | 8.00 | 12.00 | 9.00 | 10.00 | 14.00 | 16.00 | 18.00 |
Corporate Actions
28 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Bonus | 03 Oct 2025 | 03 Oct 2025 | 1:1 | — | |
| Dividend | 17 Sep 2025 | 17 Sep 2025 | — | 1.00 | |
| Other | 06 Sep 2024 | — | — | — | Annual General Meeting |
| Other | 22 Sep 2023 | — | — | — | Annual General Meeting |
| Dividend | 19 Sep 2022 | — | — | 1.10 | |
| Dividend | 20 Sep 2021 | 21 Sep 2021 | — | 1.10 | |
| Other | 20 Sep 2021 | — | — | — | Annual General Meeting |
| Dividend | 16 Mar 2020 | 17 Mar 2020 | — | 1.10 | |
| Dividend | 12 Sep 2019 | — | — | 1.00 | |
| Other | 06 Sep 2018 | — | — | — | Annual General Meeting |
| Dividend | 01 Mar 2018 | 05 Mar 2018 | — | 0.70 | |
| Other | 21 Sep 2017 | — | — | — | Annual General Meeting |
| Dividend | 21 Mar 2017 | 22 Mar 2017 | — | 0.60 | |
| Other | 20 Sep 2016 | — | — | — | Annual General Meeting |
| Dividend | 28 Mar 2016 | 29 Mar 2016 | — | 0.60 | |
| Split | 06 Nov 2015 | 09 Nov 2015 | 2:1 | — | |
| Dividend | 16 Sep 2015 | — | — | 1.10 | |
| Dividend | 11 Sep 2014 | — | — | 1.00 | |
| Bonus | 16 Jul 2013 | — | 1:2 | — | |
| Dividend | 16 Jul 2013 | — | — | 1.30 | |
| Dividend | 17 Sep 2012 | — | — | 0.90 | |
| Dividend | 15 Sep 2011 | — | — | 0.80 | |
| Dividend | 16 Sep 2010 | — | — | 0.70 | |
| Dividend | 24 Sep 2009 | — | — | 0.50 | |
| Dividend | 11 Sep 2008 | — | — | 0.40 | |
| Other | 14 Sep 2004 | — | — | — | General |
| Other | 11 Sep 2003 | — | — | — | General |
| Dividend | 11 Sep 2002 | — | — | 1.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update6 Jul from fitch
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Rating update1 Jul 2025 from fitch
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Rating update2 Jul 2024 from fitch
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Rating update23 Nov 2023 from fitch
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Rating update22 Sep 2023 from fitch
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Rating update25 Jul 2023 from fitch