Shilpa Medicare Ltd

Shilpa Medicare Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Shilpa Medicare Ltd

₹ 886 1.76%
11 Jul 9:07 a.m.
vbshilpa.com BSE: 530549 NSE: SHILPAMED
About

Shilpa Medicare Incorporated in 1987 manufactures niche APIs, intermediates, and formulations and also undertakes contract research and manufacturing service for some of its customers. The company’s formulation products consist of 16 injectable dosage forms, 19 oral solid dosage forms under SML and 13 formulations under SML’s wholly owned subsidiary Shilpa Therapeutics.[1]

Key Points

Established Business of API & Formulations
The Co. is one of the leading API and formulations manufacturers with strong capabilities in the therapeutic area of oncology. It supplies more than 30 oncology APIs for various regulated markets including USA, Europe, Japan, South Korea, Russia, Mexico, Brazil, and other emerging markets. [1] The API facilities are approved by several national and international regulatory bodies like USFDA, EU, Cofepris- Mexico, PMDA-Japan, Korean FDA, TPD Canada & TGA-Australia. [2]

It has about 19 API & intermediate manufacturing blocks with segregation of Oncology and Non-Oncology manufacturing facilities. [3]

It has vertically integrated the formulations segment. It manufactures Injectable Dosage Forms, Oral Solid Dosage Forms, Oral Disintegrating Films, and various prescription and OTX products for the overseas and Indian markets. [4]

Website BSE NSE - BE
  • Market Cap ₹ 8,664 Cr.
  • Current Price ₹ 886
  • High / Low ₹ 1,003 / 530
  • Stock P/E 96.8
  • Book Value ₹ 243
  • Dividend Yield 0.00 %
  • ROCE 7.94 %
  • ROE 4.28 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 3.59 times its book value
  • The company has delivered a poor sales growth of 7.22% over past five years.
  • Company has a low return on equity of 1.57% over last 3 years.
  • Promoter holding has decreased over last 3 years: -5.79%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare BSE SmallCap BSE Allcap Nifty Microcap 250 Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
341 261 263 262 264 260 313 287 292 293 344 319 331
268 241 253 231 227 214 255 222 222 222 258 239 254
Operating Profit 73 20 10 31 37 46 58 65 70 70 86 81 77
OPM % 21% 8% 4% 12% 14% 18% 19% 23% 24% 24% 25% 25% 23%
5 8 4 3 2 2 2 2 9 9 5 1 -18
Interest 9 10 13 18 18 18 23 26 24 24 26 12 14
Depreciation 22 22 23 24 26 27 28 27 27 27 28 29 29
Profit before tax 46 -4 -22 -8 -4 3 9 14 28 29 37 42 15
Tax % 36% -158% -17% -13% 90% 64% 83% 67% 12% 51% 51% 24% 5%
30 2 -19 -7 -8 1 2 5 24 14 18 32 15
EPS in Rs 3.40 0.10 -2.15 -0.76 -0.93 0.14 0.19 0.53 2.82 1.44 1.83 3.25 1.48
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
571 614 719 779 789 733 908 899 1,141 1,046 1,146 1,286
455 485 566 614 634 585 688 718 940 947 907 971
Operating Profit 116 129 153 165 155 148 219 181 202 99 239 316
OPM % 20% 21% 21% 21% 20% 20% 24% 20% 18% 9% 21% 25%
6 5 5 15 22 33 17 90 21 17 15 -5
Interest 4 4 7 3 3 4 5 22 41 59 92 76
Depreciation 23 21 29 31 37 42 44 54 80 96 108 113
Profit before tax 95 108 122 146 137 136 188 195 102 -38 54 122
Tax % 21% 33% 19% 29% 25% 19% 18% 25% 41% -19% 41% 36%
75 73 99 104 103 110 155 146 61 -31 32 78
EPS in Rs 10.28 9.56 13.46 13.43 12.91 13.77 19.15 18.13 6.99 -3.75 3.67 8.01
Dividend Payout % 5% 6% 4% 4% 5% 7% 6% 6% 16% 0% 0% 12%
Compounded Sales Growth
10 Years: 8%
5 Years: 7%
3 Years: 4%
TTM: 12%
Compounded Profit Growth
10 Years: 2%
5 Years: -10%
3 Years: 17%
TTM: 191%
Stock Price CAGR
10 Years: 7%
5 Years: 11%
3 Years: 30%
1 Year: 30%
Return on Equity
10 Years: 6%
5 Years: 3%
3 Years: 2%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 7 8 8 8 8 8 8 8 9 9 9 10
Reserves 389 539 639 979 1,077 1,189 1,321 1,471 1,814 1,775 1,800 2,362
118 189 221 241 191 194 390 846 683 798 937 588
163 169 194 244 223 218 270 308 370 323 347 351
Total Liabilities 678 905 1,062 1,472 1,499 1,610 1,989 2,632 2,876 2,904 3,093 3,311
294 316 580 492 534 558 650 1,111 1,342 1,368 1,385 1,777
CWIP 111 222 95 141 210 429 666 541 506 655 719 463
Investments 10 66 53 253 140 2 10 21 34 43 40 35
262 301 334 587 615 621 662 959 993 838 950 1,037
Total Assets 678 905 1,062 1,472 1,499 1,610 1,989 2,632 2,876 2,904 3,093 3,311

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
70 69 129 37 45 147 124 47 105 180 135 132
-49 -196 -106 -257 -10 -196 -290 -404 -286 -232 -171 -199
-28 136 -20 313 -61 10 176 436 83 46 47 63
Net Cash Flow -8 9 3 93 -26 -39 10 79 -98 -7 11 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 43 48 43 80 102 101 99 88 124 113 125 125
Inventory Days 143 147 161 187 194 266 298 427 338 280 309 309
Days Payable 108 85 101 110 106 115 122 91 139 125 157 85
Cash Conversion Cycle 79 111 104 157 189 253 275 425 323 268 277 350
Working Capital Days 50 67 64 122 144 141 134 222 182 164 168 181
ROCE % 20% 18% 16% 14% 10% 9% 12% 8% 6% 1% 5% 8%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
50.01% 50.01% 50.01% 50.01% 50.01% 50.01% 50.01% 50.01% 44.39% 44.33% 44.23% 44.23%
14.41% 14.46% 15.32% 13.73% 10.26% 8.60% 8.52% 5.63% 9.08% 9.59% 9.90% 10.97%
1.99% 1.76% 0.61% 0.54% 0.37% 0.41% 0.06% 1.65% 7.61% 8.18% 8.27% 7.55%
33.59% 33.78% 34.04% 35.72% 39.36% 40.98% 41.41% 42.71% 38.91% 37.90% 37.59% 37.25%
No. of Shareholders 39,09741,57946,14346,86950,43444,09443,63046,04641,07242,78449,03450,108

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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