Shilpa Medicare Ltd

NSE: SHILPAMED · Pharmaceuticals · sector

₹900.80NSE close 2026-10-26

Key numbers

Market cap₹17,616 cr

Price₹900.80

52w high / low₹1,095 / ₹260

P/E63.6xSector median 27.9x

P/B6.8xSector median 2.9x

Book value₹132.5

Dividend yield0.06%Sector median 0.48%

ROE12.0%Sector median 11.7%

ROCE12.0%Sector median 12.3%

OPM30.3%Sector median 14.0%

Debt / equity0.25xSector median 0.16x

EV/EBITDA35.8xSector median 18.6x

Interest cover7.5x

Current ratio1.31x

Sales growth 3y+13.6%Sector median +9.6%

Profit growth 3y–Sector median +13.3%

PEG0.72x

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 185 companies in Pharmaceuticals (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹45 cr vs borrowings ₹658 cr (FY26): borrowings are higher by ₹613 cr.
Operating profit covered interest 7.5x in the last 12 months.
4.90% of the promoters' shares are pledged (2.0% of all shares).
Promoter holding fell by 4.10 percentage points in a year, to 40.13% (2026-09-30).
Operating cash flow was below net profit in 0 of the last 5 years.
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 2% of net profit in the last 12 months.
Dividend paid in 3 of the last 5 financial years.
Price ₹900.80 on 2026-10-26: -17.7% from the 52-week high, +247.1% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹1,064.10 · low ₹270.10

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	344	319	331	321	370	410	437	466
EBITDA	86	81	49	92	108	101	163	136
OPM %	25.0%	25.3%	14.7%	28.5%	29.3%	24.8%	37.3%	29.3%
Other income	5	1	8	6	2	1	2	3
Net profit	18	32	15	47	44	45	108	101
EPS (₹)	0.92	1.62	0.74	2.40	1.12	2.36	5.51	5.16
Revenue YoY					+7.6%	+28.3%	+32.1%	+44.9%
Profit YoY					+145.7%	+40.3%	+642.9%	+115.1%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	1,146	1,050	1,152	1,286	1,539	1,682
EBITDA	209	102	251	289	464	509
Net profit	61	-32	32	78	243	297
EPS (₹)	3.63	1.87	1.83	4.02	12.44	14.15
Revenue growth		-8.3%	+9.7%	+11.7%	+19.6%	+27.9%
Profit growth		-153.5%	–	+145.7%	+210.8%	+167.6%
Dividend / share (₹)	1.10	1.10	–	–	1.00

Compounded growth	3 years	5 years	Last 12 months
Sales	+13.6%	+13.1%	+27.9%
Net profit	–	+5.7%	+167.6%
EPS	+88.1%	+1.9%	–
Share price	–	+42.6% (2y)	+129.0%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	1,783	1,809	2,372	2,591
Borrowings	–	796	936	586	658
Cash & equivalents	–	22	30	29	45
Total assets	–	2,902	3,093	3,311	3,706
Fixed assets	–	1,151	1,166	1,186	1,324
Capital work in progress	–	358	403	463	431
Investments	–	43	40	35	58
Receivables	–	324	392	441	519
Inventory	–	320	345	348	367
Payables	–	144	175	95	142

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	105	226	135	132	342
Cash from investing	-286	-278	-167	-199	-326
Cash from financing	83	46	47	63	14
Capex	332	273	185	244	371
Free cash flow	-227	-46	-49	-111	-28

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	-1.8%	1.8%	3.3%	9.4%
ROCE %	–	0.9%	5.5%	6.7%	10.9%
Debtor days	–	113	124	125	123
Inventory days	–	281	309	309	291
Payable days	–	127	157	85	113
Cash conversion cycle (days)	–	267	276	349	301
Working capital days	–	-5	58	88	62

Shareholding

Holder	% (2026-09-30)
Promoters	40.13%
FIIs	12.11%
DIIs	8.26%
of which Mutual funds	4.20%
of which Insurance	2.56%
Government	0.00%
Public (non-institutions)	39.49%

Quarter	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	44.23%	44.23%	44.23%	44.23%	40.13%	40.13%	40.13%	40.13%

Promoter group	%
Vishnukant Chaturbhuj Bhutada	6.51%
Dharmavati Bhutada	6.35%
Ravi Kumar Innani	4.10%
OM Prakash Inani	2.93%
Deepak Kumar Innani	2.80%
Kantadevi Inani	2.60%
Keshav Bhutada	2.05%
Madhav Vishnukant Bhutada	2.05%
Ramakant Innani	1.53%
Vishnukanth C Bhutada. (HUF)	1.37%
Taradevi Innani	1.28%
Vishnukanta Inani	1.24%
Brijgopal Innani	1.20%
Natamal Innani	1.16%
Shakuntalabai Innani	1.15%

Public holders above 1%	%
Suraj Kumar Inani	4.01%
SBI Life Insurance Co. Ltd	2.56%
Sunidhi Capital Private Limited	2.25%
Cohesion MK Best Ideas Sub-trust	2.07%
Dovetail India Fund Class 5 Shares	1.81%
Amal Parikh	1.73%
Bandhan Small CAP Fund	1.12%
Sapphire Intrex Limited	1.06%
ICICI Prudential Exports and Services Fund	1.05%
Abhishek Khaitan	1.01%

87,477 shareholders. Pledged: 4.90% of promoter shares.

Peers in Pharmaceuticals

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
SUNPHARMA	₹4,17,478 cr	34.5x	5.0x	15.5%	18.7%	28.6%	+10.0%	0.94%
DIVISLAB	₹2,39,825 cr	82.1x	14.3x	18.4%	23.0%	34.7%	+10.8%	0.34%
TORNTPHARM	₹1,53,999 cr	72.7x	18.4x	27.3%	15.1%	32.3%	+13.3%	0.84%
ZYDUSLIFE	₹1,15,808 cr	25.9x	4.3x	17.7%	16.8%	27.2%	+16.4%	0.95%
LAURUSLABS	₹1,11,232 cr	101.6x	21.0x	22.4%	20.8%	28.0%	+4.1%	0.08%
CIPLA	₹1,09,464 cr	32.5x	3.2x	10.3%	13.2%	17.7%	+7.4%	1.18%
DRREDDY	₹1,09,460 cr	33.9x	2.9x	9.0%	10.1%	15.5%	+11.0%	0.61%
MANKIND	₹95,486 cr	46.7x	5.9x	13.4%	13.8%	25.1%	+17.7%	0.04%
AUROPHARMA	₹91,489 cr	24.9x	2.4x	10.5%	12.8%	20.0%	+10.6%	0.26%
SHILPAMED	₹17,616 cr	63.6x	6.8x	12.0%	12.0%	30.3%	+13.6%	0.06%

All 185 companies in Pharmaceuticals →

Dividends & corporate actions

Ex-date	Action	Detail
2026-09-04	Dividend	Dividend - Re 0.60 Per Share
2025-10-03	Bonus	Bonus 1:1
2025-09-17	Dividend	Dividend - Re 1 Per Share
2024-09-06	Other	Annual General Meeting
2023-09-22	Other	Annual General Meeting
2022-09-19	Dividend	Annual General Meeting/Dividend - Rs 1.10 Per Share
2021-09-20	Other	Annual General Meeting
2021-09-20	Dividend	Dividend - Rs 1.10 Per Share
2020-03-16	Dividend	Interim Dividend - Rs 1.10 Per Share
2019-09-12	Dividend	Annual General Meeting/Dividend - Rs 1 Per Share
2018-09-06	Other	Annual General Meeting
2018-03-01	Dividend	Interim Dividend Re 0.70 Per Share (Purpose Revised)
2017-09-21	Other	Annual General Meeting
2017-03-21	Dividend	Interim Dividend Re 0.60 Per Share
2016-09-20	Other	Annual General Meeting
2016-03-28	Dividend	Interim Dividend - Re 0.60/- Per Share (Purpose Revised)
2015-11-06	Split	Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share
2015-09-16	Dividend	Annual General Meeting/ Dividend - Rs 1.10/- Per Share
2014-09-11	Dividend	Annual General Meeting / Dividend - Re 1/- Per Share
2013-07-16	Bonus	Annual General Meeting / Dividend - Rs 1.30/- Per Share / Bonus 1:2

Documents

Links go to the original files on the exchange website.

About the company

Pharmaceuticals: Manufacture of Formulations


Sector	Healthcare
Industry	Pharmaceuticals
Sub-industry	Pharmaceuticals
Symbol	SHILPAMED
BSE code	530549
ISIN	INE790G01031
Face value	₹1.0
Incorporated	1987-11-20
Website	https://vbshilpa.com/index.php
Plants (India / abroad)	3 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.