Shilpa Medicare Ltd.

BSE: SHILPAMED530549ISIN INE790G01031

Healthcare
Pharmaceuticals
BSE 1000

BSE listing

Share price

₹1,020.90+63.50 (+6.63%)

as of 18 Sep 2026

52W high: ₹1,033.40
52W low: ₹260.00
Off 52W high: -1.21%
1M return: +26.46%
3M return: +85.38%
6M return: +215.38%
1Y return: +24.89%
20D avg volume: 66,122
50 DMA: ₹783.67
200 DMA: ₹491.88

Key ratios Consolidated

Market cap: ₹19,967 Cr
Current price: ₹1,020.90
52W high / low: ₹1,033.40 / ₹260.00
Face value: ₹1.00
P/E: 67.16
P/B: —
EPS (TTM): ₹15.20
Book value / share: —
ROE: —
ROCE: 12.40%
Operating margin: —
Net margin: —
Debt / equity: 0.25
Net debt: ₹616.71 Cr
Interest cover: 6.02
Dividend yield: 0.06%
Dividend / share (TTM): ₹0.60
Payout: 3.95%
Cash conversion cycle: 176.3 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	465.78	436.99	409.73	369.97	321.46	330.81	319.32	343.80	292.51	291.69	286.48	312.98
	3.13	1.67	0.81	1.75	6.38	7.57	1.13	4.99	9.44	2.49	2.21	1.81
	376.82	361.56	336.47	307.18	277.52	297.32	279.18	311.63	269.76	272.46	273.46	303.71
	144.54	127.57	100.75	127.64	115.05	85.14	89.98	98.43	76.76	101.16	106.00	122.01
	8.45	6.98	7.14	7.36	4.16	6.64	6.70	6.04	2.76	5.36	3.84	4.76
	99.71	86.56	83.45	83.05	81.81	70.93	73.49	76.16	72.14	66.46	69.07	73.09
	12.10	13.66	10.68	15.67	18.78	14.49	11.75	25.55	23.74	24.20	26.22	23.24
	35.20	30.62	30.36	29.82	28.92	28.79	28.81	28.28	27.11	26.62	26.71	27.79
	94.66	88.73	78.65	73.14	68.40	78.63	74.13	59.65	53.96	58.10	54.95	53.80
	92.09	77.10	74.07	64.54	50.31	41.06	41.27	37.16	32.20	21.72	15.23	11.08
	0.00	43.35	-12.86	0.00	0.00	-28.08	0.00	0.00	0.00	6.13	0.00	0.00
	92.09	120.45	61.21	64.54	50.31	12.98	41.27	37.16	32.20	27.85	15.23	11.08
	2.83	12.66	16.27	20.36	2.69	0.77	9.83	18.83	14.62	3.21	9.46	7.60
	100.88	107.79	44.58	44.07	46.89	14.51	31.78	17.94	14.06	24.50	4.70	1.57
	5.16	5.51	2.36	2.25	4.79	1.48	3.25	1.83	1.46	2.82	0.53	0.19
Key metrics
	139.39	164.73	102.25	110.03	98.01	56.26	81.83	90.99	83.05	78.67	68.16	62.11
	29.90%	37.70%	25.00%	29.70%	30.50%	17.00%	25.60%	26.50%	28.40%	27.00%	23.80%	19.80%
	21.70%	24.70%	10.90%	11.90%	14.60%	4.40%	10.00%	5.20%	4.80%	8.40%	1.60%	0.50%
	—	4.70%	—	3.00%	—	1.00%	—	—	—	—	—	—
	44.90%	32.10%	28.30%	7.60%	9.90%	13.40%	11.50%	9.80%	—	—	—	—
	115.10%	642.90%	40.30%	145.70%	233.50%	-40.80%	576.20%	1,042.70%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	1,682	1,539	1,286	1,152	1,050	1,146	901.13	907.91	733.39	791.53
	7.36	9.84	23.15	8.17	17.40	14.24	30.14	16.94	13.74	21.68
	1,382	1,283	1,158	1,107	1,102	1,063	795.32	736.45	623.30	669.25
	500.50	471.00	350.27	424.32	368.85	381.75	318.88	287.01	249.12	307.95
	29.93	25.63	22.48	18.01	33.78	8.49	10.68	6.76	7.23	5.89
	352.77	334.88	292.71	281.49	287.33	264.49	235.31	196.59	176.40	149.14
	52.11	58.79	75.53	91.81	58.65	41.16	21.87	4.56	3.68	2.66
	126.00	119.72	112.99	107.87	95.50	79.80	53.98	43.78	42.06	37.22
	335.18	308.88	266.29	218.06	244.58	—	—	—	144.59	121.65
	307.80	266.03	151.68	52.99	-34.47	97.13	135.95	188.40	123.82	143.96
	30.49	29.28	-28.08	6.13	0.00	5.13	60.84	0.00	19.87	0.00
	338.29	295.31	123.59	59.12	-34.47	102.27	196.79	188.40	143.69	143.96
	52.12	51.98	44.04	22.39	7.36	41.68	48.85	33.49	26.18	33.91
	297.32	243.33	78.29	31.87	-32.48	60.66	146.20	154.56	109.50	102.86
	15.28	12.44	8.04	3.67	3.74	7.26	18.13	19.15	13.77	—
Key metrics
	516.40	473.82	312.11	258.80	119.68	223.23	272.64	236.74	189.43	183.84
	30.69%	30.80%	24.30%	22.50%	11.40%	19.50%	30.30%	26.10%	25.80%	23.20%
	17.67%	15.80%	6.10%	2.80%	-3.10%	5.30%	16.20%	17.00%	14.90%	13.00%
	—	12.40%	7.60%	—	—	—	—	—	—	—
	—	19.60%	11.70%	9.70%	-8.30%	27.10%	-0.70%	23.80%	-7.30%	—
	—	210.80%	145.70%	198.10%	-153.50%	-58.50%	-5.40%	41.20%	6.50%	—
	—	-28.45	-111.50	—	—	—	—	—	—	—
	—	1.41	1.69	—	—	—	—	—	—	—
	—	0.25	0.25	—	—	—	—	—	—	—
	—	616.71	560.40	—	—	—	—	—	—	—
	—	176.3	196.7	—	—	—	—	—	—	—
Balance sheet
	—	3,706	3,311	—	—	—	—	—	—	—
	—	1,110	985.67	—	—	—	—	—	—	—
	—	41.26	25.97	—	—	—	—	—	—	—
	—	518.85	440.84	—	—	—	—	—	—	—
	—	366.79	347.93	—	—	—	—	—	—	—
	—	124.45	133.62	—	—	—	—	—	—	—
	—	1,324	1,186	—	—	—	—	—	—	—
	—	142.47	95.38	—	—	—	—	—	—	—
	—	848.06	674.23	—	—	—	—	—	—	—
	—	657.97	586.37	—	—	—	—	—	—	—
	—	474.16	354.41	—	—	—	—	—	—	—
	—	183.81	231.96	—	—	—	—	—	—	—
	—	2,591	2,364	—	—	—	—	—	—	—
Cash flow
	—	342.18	132.13	—	—	—	—	—	—	—
	—	-325.92	-199.08	—	—	—	—	—	—	—
	—	13.62	62.65	—	—	—	—	—	—	—
	—	370.63	243.63	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	189.04	201.11	165.71	134.93	92.43	126.15	125.39	129.68	96.12	87.45	63.98	74.61
	9.56	6.89	11.29	16.94	17.79	14.08	16.83	21.47	31.45	23.25	22.33	22.76
	151.05	158.35	151.00	111.39	90.26	105.35	116.39	100.03	86.42	95.49	82.28	85.17
	45.95	67.38	54.03	45.73	38.03	34.54	28.97	22.11	14.20	27.13	10.46	22.27
	6.37	6.50	6.32	5.46	3.84	5.45	4.33	3.60	1.30	4.12	2.48	3.60
	34.17	30.01	30.75	28.47	27.68	22.69	23.54	27.02	26.36	24.28	25.34	26.23
	2.53	2.62	2.74	2.44	2.23	2.09	1.38	1.19	1.95	2.71	2.61	5.18
	15.49	14.41	13.56	13.15	12.59	12.34	12.20	12.02	12.30	12.29	12.39	12.67
	47.08	33.18	32.04	21.41	20.07	22.23	52.06	36.20	22.14	23.73	23.48	22.42
	47.55	49.65	25.99	40.49	19.97	34.89	25.82	51.12	41.15	15.21	4.03	12.21
	3.51	28.37	-2.20	-1.57	-5.18	-44.32	-0.49	-0.47	-0.46	-3.78	-0.12	-0.21
	51.06	78.02	23.79	38.92	14.79	-9.43	25.33	50.65	40.69	11.43	3.91	11.99
	-13.86	7.05	7.85	8.10	5.91	-4.28	9.21	20.16	12.34	1.69	1.21	5.39
	64.92	70.97	15.94	30.83	20.70	-5.15	16.12	30.49	28.35	9.74	2.70	6.60
	3.32	3.63	0.84	1.58	2.12	-0.53	1.65	3.12	2.94	1.12	0.31	0.76
Key metrics
	69.08	95.05	40.09	54.51	29.61	5.00	38.91	63.86	54.94	26.43	18.91	29.84
	36.50%	47.30%	24.20%	40.40%	32.00%	4.00%	31.00%	49.20%	57.20%	30.20%	29.60%	40.00%
	34.30%	35.30%	9.60%	22.80%	22.40%	-4.10%	12.90%	23.50%	29.50%	11.10%	4.20%	8.80%
	—	2.90%	—	1.50%	—	-0.30%	—	—	—	—	—	—
	104.50%	59.40%	32.20%	4.00%	-3.80%	44.30%	96.00%	73.80%	—	—	—	—
	213.60%	1,478.10%	-1.10%	1.10%	-27.00%	-152.90%	497.00%	362.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	690.79	597.03	477.34	309.79	247.70	356.95	830.32	805.97	663.88	743.95
	44.68	38.14	83.83	89.12	68.64	40.86	33.90	11.26	15.79	23.32
	571.79	506.46	408.20	350.36	359.08	379.14	661.62	600.35	530.29	599.78
	213.09	205.99	99.83	73.87	59.12	75.19	303.57	275.90	237.55	298.68
	24.65	22.11	14.68	12.75	15.51	6.78	7.81	3.93	7.25	5.86
	123.40	110.99	99.61	103.64	110.45	110.57	175.62	149.28	136.22	113.08
	10.33	10.04	6.60	17.26	20.83	9.05	17.47	4.33	2.89	2.12
	56.61	55.11	48.86	49.61	46.55	34.82	40.85	34.96	37.17	32.78
	133.71	105.86	132.63	90.60	99.05	—	—	146.22	119.13	97.39
	163.68	128.71	152.98	48.54	-42.73	18.68	202.59	216.88	149.38	167.49
	28.11	19.42	-45.74	-10.45	-15.55	8.81	52.95	-4.54	6.22	—
	191.79	148.13	107.24	38.09	-58.28	27.49	255.54	212.34	155.60	167.49
	9.14	15.16	37.44	11.15	8.79	7.33	71.15	44.15	31.49	34.25
	182.66	132.97	69.80	26.94	57.19	140.99	184.39	193.72	124.11	133.24
	9.37	6.80	7.16	3.10	-5.70	2.41	22.62	20.63	15.22	—
Key metrics
	258.73	213.28	162.70	104.96	9.10	71.36	313.86	251.63	195.66	202.39
	37.45%	35.70%	34.10%	33.90%	3.70%	20.00%	37.80%	31.20%	29.50%	27.20%
	26.44%	22.30%	14.60%	8.70%	23.10%	39.50%	22.20%	24.00%	18.70%	17.90%
	—	5.70%	4.10%	—	—	—	—	—	—	—
	—	25.10%	54.10%	25.10%	-30.60%	-57.00%	3.00%	21.40%	-10.80%	—
	—	90.50%	159.10%	-52.90%	-59.40%	-23.50%	-4.80%	56.10%	-6.90%	—
	—	-67.44	-76.50	—	—	—	—	—	—	—
	—	0.45	-0.27	—	—	—	—	—	—	—
	—	0.05	0.04	—	—	—	—	—	—	—
	—	120.85	103.61	—	—	—	—	—	—	—
	—	191.1	242.3	—	—	—	—	—	—	—
Balance sheet
	—	3,029	3,007	—	—	—	—	—	—	—
	—	526.26	477.29	—	—	—	—	—	—	—
	—	9.15	3.29	—	—	—	—	—	—	—
	—	222.66	190.52	—	—	—	—	—	—	—
	—	175.03	148.58	—	—	—	—	—	—	—
	—	48.99	45.93	—	—	—	—	—	—	—
	—	462.87	440.61	—	—	—	—	—	—	—
	—	85.05	22.19	—	—	—	—	—	—	—
	—	276.42	226.89	—	—	—	—	—	—	—
	—	130.00	106.90	—	—	—	—	—	—	—
	—	115.71	82.43	—	—	—	—	—	—	—
	—	14.29	24.47	—	—	—	—	—	—	—
	—	2,713	2,701	—	—	—	—	—	—	—
Cash flow
	—	60.00	-19.06	—	—	—	—	—	—	—
	—	-67.15	-433.29	—	—	—	—	—	—	—
	—	13.76	450.09	—	—	—	—	—	—	—
	—	127.44	57.44	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +34.08%
Sales CAGR 5Y: -6.38%
Sales CAGR 10Y: —
Profit CAGR 3Y: +32.48%
Profit CAGR 5Y: -6.33%
Profit CAGR 10Y: —
Sales YoY (TTM): +45.84%
Profit YoY (TTM): +193.85%

Consolidated

Sales CAGR 3Y: +13.59%
Sales CAGR 5Y: +11.30%
Sales CAGR 10Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: +10.73%
Profit CAGR 10Y: —
Sales YoY (TTM): +27.91%
Profit YoY (TTM): +167.57%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 40.15%

Holder	Type	Holding	Previous	Change
VISHNUKANT CHATURBHUJ BHUTADA	Promoter	6.51%	—	—
DHARMAVATI BHUTADA	Promoter Group	6.35%	—	—
RAVI KUMAR INNANI	Promoter Group	4.10%	—	—
SURAJ KUMAR INANI	Public	4.01%	—	—
OM PRAKASH INANI	Promoter	2.93%	—	—
DEEPAK KUMAR INNANI	Promoter Group	2.80%	—	—
KANTADEVI INANI	Promoter Group	2.60%	—	—
SBI LIFE INSURANCE CO. LTD	Public	2.31%	—	—
SUNIDHI CAPITAL PRIVATE LIMITED	Public	2.25%	—	—
COHESION MK BEST IDEAS SUB-TRUST	Public	2.17%	—	—
MADHAV VISHNUKANT BHUTADA	Promoter Group	2.05%	—	—
KESHAV BHUTADA	Promoter Group	2.05%	—	—
AMAL PARIKH	Public	1.73%	—	—
DOVETAIL INDIA FUND CLASS 5 SHARES	Public	1.71%	—	—
RAMAKANT INNANI	Promoter Group	1.53%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

USFDA Inspection of Shilpa Medicare Limited at Unit VII, Analytical Services Division, Hyderabad.18 Sep 2026 · Company Update / General
Submission of Scrutinizers Report on 39th AGM Resolutions along with Voting Results12 Sep 2026 · AGM/EGM / AGM
Shilpa Medicare''s Novel Complex Injectable OERIS (Ondansetron Extended - Release Injection, 100 mg/mL) receives final approval from Subject Expert Committee (SEC) for grant of marketing ....11 Sep 2026 · Company Update / Press Release / Media Release
Proceedings of 39th Annual General Meeting.11 Sep 2026 · AGM/EGM / AGM
Initiation of NCLT Order on FTF Pharma Private Limited, a Wholly Owned Subsidiary of Shilpa Medicare Limited.10 Sep 2026 · Company Update / General
Dispatch of letter to shareholders whose e-mail addresses are not registered with Company/ Registrar & Transfer Agent/ Depository Participants.19 Aug 2026 · Company Update / General
Disclosure under Reg.30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.18 Aug 2026 · Company Update / General
Dividend Update17 Aug 2026 · Corp Action / Dividend Updates
Newspaper Publication14 Aug 2026 · Company Update / Newspaper Publication
Annual Report of Shilpa Medicare Limited for the FY 2025-2613 Aug 2026 · Others / Reg. 34 (1) Annual Report
39th Annual General Meeting Notice13 Aug 2026 · AGM/EGM / AGM
Q1FY27 earnings conference call transcript10 Aug 2026 · Company Update / Earnings Call Transcript
Audio link of the Investor Conference call for Q1 FY275 Aug 2026 · Company Update / Analyst / Investor Meet
Investor Presentation for Q1FY275 Aug 2026 · Company Update / Investor Presentation
The record date for determining the shareholders entitled for payment of final dividend for FY 2025-26, if declared at the 39th AGM is Friday, 4th September 2026.5 Aug 2026 · Corp. Action / Record Date
Unaudited standalone and consolidated Financial Results for the Quarter ended 30 June 20265 Aug 2026 · Result / Financial Results
Unaudited Financial Results for the Quarter ended 30 June 20265 Aug 2026 · Board Meeting / Outcome of Board Meeting
Appointment of Dr. Uday N. Harle as Chief Executive Officer of Shilpa Biologicals Private Limited, a wholly owned subsidiary of Shilpa Medicare Limited w.e.f 03 August 2026. (Senior Managerial ....3 Aug 2026 · Company Update / Change in Management
Investor conference call for Q1-FY27 is scheduled to be held on 05 August 202629 Jul 2026 · Company Update / Analyst / Investor Meet
Shilpa Medicare Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/08/2026 ,inter alia, to consider and approve Unaudited financial results ....29 Jul 2026 · Board Meeting / Board Meeting
Credit Rating16 Jul 2026 · Company Update / Credit Rating
Resignation of Dr. Sridevi Khambhampaty, as Chief Executive Officer (CEO) of Shilpa Biologicals Private Limited, material subsidiary of Shilpa Medicare Limited.15 Jul 2026 · Company Update / Change in Management
Intimation of Credit Rating7 Jul 2026 · Company Update / Credit Rating
Certificate under Reg. 74(5) of SEBI (DP) Regulation, 20186 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Shilpa Biologicals Pvt Ltd, a wholly owned subsidiary of Shilpa Medicare Limited enters into a Co-development and supply agreement with Orion Corporation, Finland30 Jun 2026 · Company Update / Press Release / Media Release
Newspaper Publication26 Jun 2026 · Company Update / Newspaper Publication
Intimation of Closure of Trading Window25 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Shilpa Biologicals Pvt Ltd, a material subsidiary of Shilpa Medicare Ltd and M/s Sartorius Stedim India Pvt Ltd have entered into a settlement agreement24 Jun 2026 · Company Update / General
Shilpa Medicare Limited has informed the exchange about the copy of news paper publication.24 Jun 2026 · Company Update / Newspaper Publication
Press Release on announcement of commissioning of a state-of-art Antibody-Drug Conjugate (ADC) GMP Manufacturing Facility by Shilpa Biologicals Private Limited, a material subsidiary of ....24 Jun 2026 · Company Update / Press Release / Media Release
Scrutinizers Report along with Voting Results of Postal Ballot23 Jun 2026 · AGM/EGM / Postal Ballot
Shilpa Biocare Private Limited, a wholly owned Subsidiary of Shilpa Medicare Limited, intends to make a strategic equity partnership in Gate2Brain.3 Jun 2026 · Company Update / Press Release / Media Release
USFDA Inspection of Shilpa Medicare Limited at Unit VI, Dabaspet, Bengaluru30 May 2026 · Company Update / General
Annual Secretarial Compliance Report for the financial year 2025-2628 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Transcript of the Q4FY26 Conference call26 May 2026 · Company Update / Earnings Call Transcript
Postal Ballot notice published in news paper.23 May 2026 · Company Update / Newspaper Publication
Postal Ballot notice published in newspaper23 May 2026 · Company Update / Newspaper Publication
Analyst/Investor Call -Call Recording22 May 2026 · Company Update / Analyst / Investor Meet
Investor Presentation for the period - Q4FY2622 May 2026 · Company Update / Investor Presentation
Notice of Postal Ballot22 May 2026 · AGM/EGM / Postal Ballot

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 0.6000	4 Sep 2026	4 Sep 2026	—
Bonus issue 1:1	3 Oct 2025	3 Oct 2025	—
Final Dividend - Rs. - 1.0000	17 Sep 2025	17 Sep 2025	—

Board meetings

5 Aug 2026 Board Meeting - Financial Results