Shilpa Medicare Limited (SHILPAMED)

Healthcare · Pharmaceuticals & Biotechnology · NSE · Updated 19 July 2026

₹620.25 ↓ 36.94% (1Y)

🎯 Key Takeaways

Shilpa Medicare Limited is undergoing a strategic transformation marked by financial recovery and targeted investments, shifting from a period of losses to renewed profitability. The company has returned to net income growth after years of losses, supported by operational improvements and a focus on high-margin segments.
Revenue declined 7.1% QoQ to ₹319 in Q3FY25.
⚠️ Dependence on a single subsidiary (Shilpa Biologicals) for improved creditworthiness, which may not translate into group-wide financial benefits.

Market Cap

₹9,357

P/E Ratio

106.1

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Shilpa Medicare Limited is undergoing a strategic transformation marked by financial recovery and targeted investments, shifting from a period of losses to renewed profitability. The company has returned to net income growth after years of losses, supported by operational improvements and a focus on high-margin segments. Management is actively restructuring and investing in future growth areas, including renewable energy through a stake in Neo Green Power.

📰 What's Happening

In Q3FY26, Shilpa Medicare reported a sharp rebound in net profit to ₹32 lakh from ₹18 lakh in the prior quarter, up from a loss of ₹8 lakh in Q4FY24, indicating strong operational recovery. The company proposed a Re. 0.60 per share dividend and approved a 28% equity investment in Neo Green Power for captive renewable power. Additionally, its subsidiary Shilpa Biologicals received an IND A+ credit rating upgrade from India Ratings, and the parent’s bank facilities were upgraded to IND AA- with a Positive outlook, signaling improved financial health and creditworthiness across the group.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	264	260	313	286	292	293	344	319
Operating Profit	40	50	62	68	79	83	91	82
OPM %	14.5%	18.4%	19.3%	23.0%	24.0%	25.2%	25.0%	25.3%
Net Profit	-8	1	2	5	25	14	18	32
EPS	₹-0.93	₹0.14	₹0.19	₹0.53	₹2.82	₹1.46	₹1.83	₹3.25

The company has turned around from consecutive losses in FY24 to consistent profitability in FY25, with operating margins stabilizing around 25% and net profit rising sequentially over the past three quarters. This improvement aligns with management’s focus on operational efficiency and margin discipline, as highlighted in recent filings. The turnaround follows a period of margin compression and losses in FY24, which management previously attributed to pricing pressures and higher input costs.

🔮 Management Outlook & What's Next

Management has expressed confidence in sustaining growth through strategic investments and operational expansion, including the proposed shift of registered offices to Maharashtra and a 28% stake in Neo Green Power to secure renewable energy supply. While specific forward guidance on revenue or margins was not provided in the latest filings, the focus on profitability, dividend continuity, and credit rating upgrades reflects a positive outlook on financial stability and long-term value creation.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Pharmaceuticals & Biotechnology

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Sun Pharmaceutical Industries Limited	4.51 L Cr	41.3	20.3%	15.1%	0.03
Divi's Laboratories Limited	1.79 L Cr	72.4	22.1%	16.6%	0.00
Torrent Pharmaceuticals Limited	1.49 L Cr	80.1	—	—	—
Cipla Limited	1.16 L Cr	25.4	19.4%	14.6%	0.00
Dr. Reddy's Laboratories Limited	1.12 L Cr	20.0	19.7%	16.6%	0.12
Lupin Limited	1.04 L Cr	36.2	—	—	—
Mankind Pharma Limited	1.03 L Cr	49.2	—	—	—
Zydus Lifesciences Limited	1.02 L Cr	22.5	—	—	—
Aurobindo Pharma Limited	87,806	25.3	—	—	—
Laurus Labs Limited	71,455	356.8	—	—	—

🔗 Peer Stock Analyses

SUNPHARMA DIVISLAB TORNTPHARM CIPLA DRREDDY

⚠️ Risk Factors

1. Dependence on a single subsidiary (Shilpa Biologicals) for improved creditworthiness, which may not translate into group-wide financial benefits. 2. The proposed investment in Neo Green Power introduces execution and market risks, especially if the project fails to deliver expected cost savings or returns. 3. Historical losses in FY24 and volatility in quarterly profits suggest underlying operational or demand-side vulnerabilities that may not be fully resolved.

📋 Recent Filings

🧠 Analyst's Read

Shilpa Medicare is transitioning from a distressed profile to a stabilizing one, supported by margin recovery and improved credit metrics. Investors should monitor execution of the Neo Green Power investment and sustainability of operating margins, as future growth will depend on effective capital allocation and macroeconomic conditions in the pharmaceutical sector.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-19.

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