Shilpa Medicare announced its Q1 FY27 financial results, achieving its highest-ever quarterly revenue and EBITDA. Revenue surged 43% year-on-year to INR469 crore, with EBITDA growing 42% to INR139 crore. The company highlighted strong performance across its API, Formulation, and Biologics divisions, driven by new product launches and expanded capacities. The improved financial performance reflects operational leverage and a stronger business mix.
Shilpa Medicare Reports Record Q1 FY27 Performance
Shilpa Medicare Limited has announced its financial results for the first quarter of Fiscal Year 2027 (Q1 FY27), reporting its highest-ever quarterly revenue and EBITDA for the fourth consecutive quarter. The company’s revenue reached INR469 crore, marking a significant 43% increase year-on-year. This strong top-line growth was supported by a healthy gross margin of 71% for the quarter.
EBITDA and Profitability Growth
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter stood at INR139 crore, representing a substantial 42% growth compared to the same period last year. Shilpa Medicare maintained an EBITDA margin of 30%. Operating Profit Before Tax (PBT) was INR92 crore, an increase from INR50 crore in the prior year’s quarter. Reported Profit After Tax (PAT) saw a remarkable 115% year-on-year growth, reaching INR101 crore.
Segmental Performance Highlights
The company’s performance was robust across its key business segments. The API division recorded a revenue of INR260 crore, a 15% year-on-year increase, driven by specialty CDMO services and strong client acquisition. The Formulation revenue more than doubled, growing over 100% year-on-year to INR198 crore, fueled by a complex FDA portfolio and market expansion in the US and EU regions. The Biologics segment demonstrated significant growth with revenue of INR52 crore, up 42% year-on-year, attributed to continued deal momentum in licensing and partnership businesses.
Strategic Focus and Future Outlook
Shilpa Medicare emphasized its strategic focus on integrated capabilities, including API, Formulation, and Biologics, positioning itself as a one-stop solution provider. The company is investing in advanced areas such as CDMO, peptides, and oncology. The reinvestment phase is largely behind, with the company anticipating a period of harvesting incremental revenue and improved margins. Investments in peptide manufacturing capacity are expected to commission by end of FY27. The company also noted its credit rating upgrade to AA-, reflecting significant operational improvements.
Capital Expenditure and Financial Management
Capital expenditure for the quarter amounted to INR114 crore, funded through internal accruals. The company’s Return on Capital Employed (ROCE) improved to 12.5%, with an adjusted ROCE of 18.3% for its newer businesses. Shilpa Medicare is committed to leveraging its operational leverage and improved business mix to drive higher ROCE in the coming years.
Key Product Developments
Key product developments include the ongoing progress of NCE molecules, with three programs expected to enter commercialization in FY28. Important near-term filings for Abraxane, Enzalutamide, and Abiraterone formulations are on track for FY28 launch. The Rotigotine transdermal patch has received European approval and is filed in the US, with a partnership in place for a US launch. Biosimilar products like Aflibercept and Nivolumab are progressing as planned for Indian market launches in FY27 and FY28, respectively.
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