Shilpa Medicare Ltd.

•

vbshilpa.comBSE: 530549NSE: SHILPAMED

Market Cap₹ 18,804 Cr.

Current Price

High / Low₹ 980 / 260

Stock P/E103.0

Book Value₹ 142

Price to Book2.51

Dividend Yield0.06 %

ROCE5.7 %

ROE5.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2021 • Bulk Drugs and Intermediates: 99.3% • Power: 0.6% • Others: 0.1%

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 213.6% YoY, showing strong momentum
Operating margins have improved to 19.1% from 9.9%
Company has delivered good sales growth of 18.4% CAGR over last 5 years
Company comfortably covers its interest (15.8x coverage)

CONS

A large part of profit comes from other income (53.9% of PBT)
Company has a low return on capital employed of 4.1%
Company has a low return on equity of 3.0% over last 3 years
Promoter holding has decreased over last 2 years: -4.3pp
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.22x)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcarePharmaceuticals & Drugs

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	SUNPHARMA	1868.50	37.06	448315.74	0.86	2901.23	26.53	15299.88	10.98	19.11	28.81
2.	DIVISLAB	9482.75	86.06	251737.22	0.32	902.00	65.50	3080.00	27.80	21.51	40.75
3.	TORNTPHARM	4931.90	86.01	187593.62	0.77	566.00	3.28	4921.00	57.32	19.27	33.81
4.	ZYDUSLIFE	1129.00	24.95	112618.18	0.09	990.20	-34.90	8017.00	23.97	21.39	24.54
5.	CIPLA	1368.00	32.79	110515.04	0.95	785.55	-39.18	7119.28	4.13	16.00	16.73
6.	LAURUSLABS	1933.25	95.54	104455.86	0.10	362.07	123.94	2026.31	29.10	18.20	31.50
7.	AUROPHARMA	1690.00	26.19	97238.86	0.24	1032.03	25.22	9150.35	17.44	12.76	20.54
8.	LUPIN	2092.00	17.30	95660.02	0.86	1416.98	16.01	8276.89	34.28	28.86	29.59
9.	DRREDDY	1143.20	29.61	95420.61	0.70	435.60	-69.10	8099.80	-5.21	13.75	10.63
10.	MANKIND	2266.00	45.82	93596.02	0.04	574.09	29.12	4030.59	12.89	13.24	26.30
11.	GLENMARK	2439.55	38.29	68850.12	0.10	482.83	927.88	4018.48	31.35	20.35	20.03
12.	SHILPAMED	961.45	63.25	18804.21	0.06	1008.80	2051.60	4657.80	1348.95	11.43	30.53

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	84	75	64	87	96	130	125	126	92	135	166	201	1,890
	68	67	67	80	73	87	103	88	75	96	135	141	1,510
Operating Profit	15	7	-3	7	23	43	22	38	17	39	31	60	380
OPM %	18.32%	9.77%	-5.16%	7.96%	24.30%	33.00%	17.92%	30.12%	18.39%	29.01%	18.71%	29.73%	20.10%
	14	23	22	19	31	20	16	-34	13	15	9	35	60
Interest	7	5	3	3	2	1	1	2	2	2	3	3	25
Depreciation	12	13	12	12	12	12	12	12	13	13	14	14	155
Profit before Tax	11	12	4	11	40	50	25	-10	15	39	24	78	511
Tax %	26.58%	44.92%	30.95%	14.79%	30.67%	40.20%	37.05%	43.19%	-39.99%	20.81%	33.00%	9.05%	-27.14%
Net Profit	8	7	3	10	28	30	16	-6	21	31	16	71	649
	0.91	0.76	0.31	1.12	2.89	1.53	0.80	-0.29	2.12	1.58	0.84	3.63	3.32

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	734	741	664	806	257	357	248	310	477	597	2,392
	561	573	477	568	229	346	303	288	351	483	1,882
Operating Profit	173	168	187	238	28	11	-55	21	127	114	510
OPM %	23.54%	22.64%	28.16%	29.50%	11.08%	3.09%	-22.27%	6.93%	26.58%	19.10%	21.31%
	25	35	23	14	90	60	64	83	33	99	120
Interest	3	2	3	4	6	9	21	17	6	10	33
Depreciation	27	33	34	35	22	35	47	50	49	55	196
Profit before Tax	169	167	173	212	90	27	-58	38	105	148	651
Tax %	24.38%	20.45%	21.76%	20.79%	27.84%	26.66%	15.09%	29.28%	35.54%	10.23%	-17.75%
Net Profit	127	133	136	168	65	20	-49	27	68	133	767
EPS	15.68	16.68	-1.43	23.76	22.61	16.87	6.59	3.10	6.94	6.80	—
Dividend Payout %	3.77%	4.28%	6.01%	5.33%	13.78%	47.37%	0.00%	0.00%	14.40%	8.83%	—

COMPOUNDED SALES GROWTH

10 Years:: -1%
5 Years:: 18%
3 Years:: 34%

COMPOUNDED PROFIT GROWTH

10 Years:: 2%
5 Years:: 15%
3 Years:: —

STOCK PRICE CAGR

10 Years:: 13%
5 Years:: 25%
3 Years:: 73%
1 Year:: 125%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 2%
3 Years:: 3%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	8	8	8	8	8	9	9	9	10	20
	1,022	1,149	1,273	1,445	1,630	2,057	2,109	2,134	2,637	2,694
	238	166	175	325	577	177	260	148	105	133
Trade Payables	104	99	71	77	57	24	32	53	40	85
	119	125	141	166	246	629	109	76	146	97
Total Liabilities	1,490	1,547	1,668	2,021	2,517	2,896	2,519	2,419	2,938	3,029
	449	489	511	517	641	566	609	586	570	639
Capital Work in Progress	88	131	285	244	297	53	42	10	39	37
	326	231	97	101	219	237	244	246	1,236	1,223
	175	168	177	206	299	102	95	112	149	175
	0	0	0	0	0	0	0	144	177	223
Cash & Bank	93	73	91	28	115	16	5	4	4	11
	359	456	508	924	946	1,923	1,525	1,316	764	722
Total Assets	1,490	1,547	1,668	2,021	2,517	2,896	2,519	2,419	2,938	3,029

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	84	95	200	171	113	208	10	10	-19	60
Cash from Investing	-275	-13	-215	-295	-238	-379	-95	156	-433	-67
Cash from Financing	315	-61	8	170	256	97	88	-163	450	14
	91	-20	-42	5	87	-108	-5	2	-2	7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.39	44.33	44.23	44.23	44.23	44.23	40.13	40.13	40.13
	9.08	9.59	9.90	10.97	11.19	10.92	10.97	11.08	11.39
	7.61	8.18	8.27	7.55	7.44	7.65	8.34	8.58	8.05
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	38.92	37.90	37.60	37.25	37.13	37.20	40.56	40.21	40.43

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Action(s) initiated or orders passed

2026-09-10 - Shilpa Medicare Limited has informed the Exchange about Action(s) initiated or orders passed

2026-08-19

General Updates

2026-08-19 - Dispatch of letter to shareholders whose e-mail addresses are not registered with Company/Registrar & Transfer Agent/Depository Participants.

2026-08-18

General Updates

2026-08-18 - Shilpa Medicare Limited has informed the Exchange about Response on the news item captioned Shilpa Medicare recalls over 27k vials of chemotherapy drug in US published in the online edition of The Economic Times on August 17, 2026 Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2026-08-17

General Updates

2026-08-17 - Shilpa Medicare Limited has informed the Exchange about Dividend Updates.

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Shilpa Medicare Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Shareholders meeting

2026-08-13 - Shilpa Medicare Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 11, 2026

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Shilpa Medicare Limited has informed the Exchange about Transcript

2026-08-05

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-05 - Shilpa Medicare Limited has informed the Exchange about Link of Recording

2026-08-05

Investor Presentation

2026-08-05 - Shilpa Medicare Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for SHILPAMED

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Shilpa Medicare Ltd.

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Name

SUNPHARMA

1868.50

37.06

448315.74

0.86

2901.23

26.53

15299.88

10.98

19.11

28.81

DIVISLAB

9482.75

86.06

251737.22

0.32

902.00

65.50

3080.00

27.80

21.51

40.75

TORNTPHARM

4931.90

86.01

187593.62

0.77

566.00

3.28

4921.00

57.32

19.27

33.81

ZYDUSLIFE

1129.00

24.95

112618.18

0.09

990.20

-34.90

8017.00

23.97

21.39

24.54

CIPLA

1368.00

32.79

110515.04

0.95

785.55

-39.18

7119.28

4.13

16.00

16.73

LAURUSLABS

1933.25

95.54

104455.86

0.10

362.07

123.94

2026.31

29.10

18.20

31.50

AUROPHARMA

1690.00

26.19

97238.86

0.24

1032.03

25.22

9150.35

17.44

12.76

20.54

LUPIN

2092.00

17.30

95660.02

0.86

1416.98

16.01

8276.89

34.28

28.86

29.59

DRREDDY

1143.20

29.61

95420.61

0.70

435.60

-69.10

8099.80

-5.21

13.75

10.63

MANKIND

2266.00

45.82

93596.02

0.04

574.09

29.12

4030.59

12.89

13.24

26.30

GLENMARK

2439.55

38.29

68850.12

0.10

482.83

927.88

4018.48

31.35

20.35

20.03

SHILPAMED

961.45

63.25

18804.21

0.06

1008.80

2051.60

4657.80

1348.95

11.43

30.53

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

130

125

126

135

166

201

1,890

103

135

141

1,510

Operating Profit

-3

380

OPM %

18.32%

9.77%

-5.16%

7.96%

24.30%

33.00%

17.92%

30.12%

18.39%

29.01%

18.71%

29.73%

20.10%

-34

Interest

Depreciation

155

Profit before Tax

-10

511

Tax %

26.58%

44.92%

30.95%

14.79%

30.67%

40.20%

37.05%

43.19%

-39.99%

20.81%

33.00%

9.05%

-27.14%

Net Profit

-6

649

0.91

0.76

0.31

1.12

2.89

1.53

0.80

-0.29

2.12

1.58

0.84

3.63

3.32

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

734

741

664

806

257

357

248

310

477

597

2,392

561

573

477

568

229

346

303

288

351

483

1,882

Operating Profit

173

168

187

238

-55

127

114

510

OPM %

23.54%

22.64%

28.16%

29.50%

11.08%

3.09%

-22.27%

6.93%

26.58%

19.10%

21.31%

120

Interest

Depreciation

196

Profit before Tax

169

167

173

212

-58

105

148

651

Tax %

24.38%

20.45%

21.76%

20.79%

27.84%

26.66%

15.09%

29.28%

35.54%

10.23%

-17.75%

Net Profit

127

133

136

168

-49

133

767

EPS

15.68

16.68

-1.43

23.76

22.61

16.87

6.59

3.10

6.94

6.80

—

Dividend Payout %

3.77%

4.28%

6.01%

5.33%

13.78%

47.37%

0.00%

14.40%

8.83%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,022

1,149

1,273

1,445

1,630

2,057

2,109

2,134

2,637

2,694

238

166

175

325

577

177

260

148

105

133

Trade Payables

104

119

125

141

166

246

629

109

146

Total Liabilities

1,490

1,547

1,668

2,021

2,517

2,896

2,519

2,419

2,938

3,029

449

489

511

517

641

566

609

586

570

639

Capital Work in Progress

131

285

244

297

326

231

101

219

237

244

246

1,236

1,223

175

168

177

206

299

102

112

149

175

144

177

223

Cash & Bank

115

359

456

508

924

946

1,923

1,525

1,316

764

722

Total Assets

1,490

1,547

1,668

2,021

2,517

2,896

2,519

2,419

2,938

3,029

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

200

171

113

208

-19

Cash from Investing

-275

-13

-215

-295

-238

-379

-95

156

-433

-67

Cash from Financing

315

-61

170

256

-163

450

-20

-42

-108

-5

-2

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

44.39

44.33

44.23

40.13

9.08

9.59

9.90

10.97

11.19

10.92

10.97

11.08

11.39

7.61

8.18

8.27

7.55

7.44

7.65

8.34

8.58

8.05

Government

0.00

38.92

37.90

37.60

37.25

37.13

37.20

40.56

40.21

40.43

Shilpa Medicare Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Shilpa Medicare Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI