Shilpa Medicare logo

Shilpa Medicare share price

NSE: SHILPAMEDBSE: 530549Pharmaceuticals & BiotechnologySmall Cap

Shilpa Medicare Limited · Face value ₹1 · Listed Jun 1995 on BSE, Dec 2009 on NSE
Last close ₹955.60up ₹20.00 (2.14%)BSE ₹954.65

Share price at the NSE close on 30 Oct 2026. Previous close ₹935.60.

30 Oct: open ₹955.90, high ₹979.80, low ₹930.30

52-week range of traded prices to 30 Oct 2026
₹259.50Low, 27 Jan 2026₹1,095.00High, 1 Oct 2026
Market cap
₹18,690 Cr637th largest listed
P/E
62.86
P/E without one-offs
70.04
P/B
7.21
Dividend yield
0.06%
ROE
12.0%
ROE without one-offs
10.8%
ROCE
10.9%
Debt to equity
0.25
Volume, NSE
9,03,85439.8% delivered

Shilpa Medicare share price chart

Daily closes since Sep 2007, BSE closes Jan 2007 to Dec 2009, adjusted for splits and bonuses. Earlier closes are left out: on 28 Sep 2007 the price changed in a way no corporate action on record explains.

+164.8%over a year · Nifty Microcap 250 +0.1% · Nifty 500 −8.2%

Results20-session average 8,88,318 shares a day, 45.0% delivered

About Shilpa Medicare

Shilpa Medicare Limited is a pharmaceutical company from Raichur, Karnataka, that makes active pharmaceutical ingredients (the active substance in a medicine), finished medicines and biologics (medicines made from living cells), and develops and manufactures drugs under contract (CDMO) for other drug companies.1 Its finished medicines cover oncology, neurology, dermatology, gastroenterology and supportive care, and its API business supplies customers in regulated markets such as the United States, Europe and Japan.23

The API business is run through the wholly owned subsidiary Shilpa Pharma Lifesciences, and finished medicines are made at plants in Jadcherla and Dabaspet.34 Biologics sit in 2 wholly owned subsidiaries: Shilpa Biologicals, with its plant at Dharwad, and Shilpa Biocare, with its plant at Kadechur, Karnataka.56 Its brands include Noduca (NorUDCA) for non-alcoholic fatty liver disease, OERIS, an ondansetron injection against nausea from chemotherapy, and Srbumin, its recombinant human albumin.789

The company started operations in 1987 as an API maker, began commercial production in November 1989, and listed on BSE in 1995 and on NSE in 2009.10 The company law tribunal approved the merger of its wholly owned subsidiary Shilpa Therapeutics into the company by an order of 27 Feb 2026, with 1 Apr 2025 as the date from which the accounts are combined.11 Chairman Omprakash Inani is a non-executive promoter director, and Vishnukant Bhutada is managing director.1213

Shilpa Medicare key points

Results

  • In the quarter to Jun 2026, consolidated revenue was ₹469 crore, up 43% from ₹328 crore a year earlier, its highest quarterly revenue.1415
  • In the quarter to Jun 2026, consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹139 crore, up 42%, and consolidated profit after tax ₹101 crore, up 115%, with a negative tax rate from a deferred tax reversal.1617
  • In the year to Mar 2026, consolidated gross revenue was ₹1,53,887 lakh against ₹1,28,643 lakh, and consolidated total comprehensive income (profit plus gains and losses booked directly to equity) ₹24,719 lakh against ₹7,599 lakh.18

Business segments

  • API. In the year to Mar 2026, API revenue, including supplies to the company's own formulations business, grew 17% on a like to like basis to ₹985 crore; oncology APIs contributed ₹455 crore and non-oncology APIs ₹390 crore.19
  • Specialty CDMO (within API). Specialty CDMO, contract work on APIs, peptides and polymers for other drug companies, is counted within the API division; it had revenue of ₹110 crore in the year to Mar 2026 and more than 25 active programmes.2021
  • Formulations. Formulations (finished medicines) revenue grew 30% to ₹618 crore in the year to Mar 2026 from ₹474 crore, the segment's highest annual revenue.22
  • Biologics. Biologics revenue was ₹149 crore in the year to Mar 2026, about 10% of consolidated revenue, and ₹52 crore in the quarter to Jun 2026, up 42%.2324

Formulations revenue by market

  • Formulations revenue by market, ₹ crore25
    Itemyear to Mar 2026year to Mar 2025
    Europe223111
    Rest of the world12399
    United States8048
    India7226
    Licensing and services120–

Plants and capacity

  • API Unit I at Raichur has 11 manufacturing blocks with 650 KL (kilolitres) of reactor capacity, and API Unit II at Raichur has 10 blocks with 510 KL.2627
  • The Jadcherla formulations plant can make about 25 million tablets, 4 million capsules, 3 million injectables and 2 million freeze-dried vials a year; the Bengaluru plant about 50 million oral films and 30 million transdermal patches.28
  • On its earnings call of 5 Aug 2026, the company said its peptide manufacturing block in India is to complete commissioning by the end of the year to Mar 2027.29
  • In the quarter to Jun 2026, the company spent about ₹114 crore on capital spending.30

Customers and partners

  • Orion Corporation is the exclusive European partner for Shilpa's recombinant human albumin for therapeutic use, and for a nivolumab biosimilar (a near-copy of an off-patent biological medicine) that Shilpa co-develops and supplies.3132
  • As of its presentation of 5 Aug 2026, the US FDA had issued a complete response letter (declining approval for now) on Unicycive Therapeutics' Oxylanthanum Carbonate, for high blood phosphate, citing deficiencies at a third-party finished-dose site; Shilpa is its exclusive CDMO partner.3334

Research and development

  • Research runs across 5 research centres in India with more than 400 scientists and specialists; by Mar 2026 the company had filed 597 patents and been granted 126.3536
  • Shilpa had 290 drug master files (dossiers regulators use to approve an API supplier) by Jun 2026, and more than 860 formulation filings at Mar 2026, with over 50 new approvals in that year.3736
  • NorUDCA, launched in India in the quarter to Dec 2025 with 3 marketing partners, made Shilpa the first company in India with regulatory approval for a fatty liver disease (NAFLD) treatment, the company says.382139
  • On its earnings call of 5 Aug 2026, the company said it expects to launch the biosimilar Aflibercept in India in the year to Mar 2027, and Abraxane, Enzalutamide and Abiraterone formulations in the year to Mar 2028.40

Recent events

  • In an exchange filing of 10 Oct 2026, the company said Unit 4 at Jadcherla had received GMP (good manufacturing practice) certification from AGES, Austria, after an inspection from 27 to 30 July 2026.41
  • On 11 Sep 2026, CDSCO's Subject Expert Committee approved granting marketing authorisation for OERIS, designed to act for up to 120 hours from one dose; launch in India awaits final authorisation.4243
  • On 7 Jul 2026, India Ratings upgraded the credit rating (an agency's view of how safely a borrower repays) on Shilpa Medicare's bank facilities to IND AA- from IND A+, with a stable outlook.44

Litigation and regulatory matters

  • On 23 Jun 2026, Shilpa Biologicals settled a commercial suit by Sartorius Stedim India, which had claimed ₹20,13,47,308 plus interest, by agreeing before a Bengaluru commercial court to pay ₹9,00,00,000.45
  • A US FDA pre-approval inspection of Unit VI at Dabaspet ended on 29 May 2026 with a Form 483 (a list of inspectors' observations) of 5 procedural observations, none repeat or related to data integrity; the company said it would respond within the stipulated time.46

Last updated

All 46 sources, each with its page
  1. 1. Annual report, 13 Aug 2026, page 63
  2. 2. Annual report, 13 Aug 2026, page 25
  3. 3. Annual report, 13 Aug 2026, page 21
  4. 4. Annual report, 13 Aug 2026, page 25
  5. 5. Annual report, 13 Aug 2026, page 65
  6. 6. Annual report, 13 Aug 2026, page 58
  7. 7. Annual report, 13 Aug 2026, page 64
  8. 8. Annual report, 13 Aug 2026, page 6
  9. 9. Annual report, 13 Aug 2026, page 36
  10. 10. Annual report, 13 Aug 2026, page 167
  11. 11. Annual report, 13 Aug 2026, page 74
  12. 12. Annual report, 13 Aug 2026, page 89
  13. 13. Annual report, 13 Aug 2026, page 57
  14. 14. Investor presentation, 5 Aug 2026, page 8
  15. 15. Investor presentation, 5 Aug 2026, page 8
  16. 16. Investor presentation, 5 Aug 2026, page 8
  17. 17. Earnings call, 5 Aug 2026, page 5
  18. 18. Annual report, 13 Aug 2026, page 69
  19. 19. Annual report, 13 Aug 2026, page 21
  20. 20. Annual report, 13 Aug 2026, page 69
  21. 21. Investor presentation, 5 Aug 2026, page 15
  22. 22. Annual report, 13 Aug 2026, page 64
  23. 23. Annual report, 13 Aug 2026, page 65
  24. 24. Earnings call, 5 Aug 2026, page 6
  25. 25. Annual report, 13 Aug 2026, page 64
  26. 26. Investor presentation, 5 Aug 2026, page 32
  27. 27. Annual report, 13 Aug 2026, page 24
  28. 28. Annual report, 13 Aug 2026, page 64
  29. 29. Earnings call, 5 Aug 2026, page 3
  30. 30. Earnings call, 5 Aug 2026, page 5
  31. 31. Investor presentation, 5 Aug 2026, page 23
  32. 32. Investor presentation, 5 Aug 2026, page 20
  33. 33. Investor presentation, 5 Aug 2026, page 27
  34. 34. Investor presentation, 5 Aug 2026, page 29
  35. 35. Annual report, 13 Aug 2026, page 41
  36. 36. Annual report, 13 Aug 2026, page 70
  37. 37. Investor presentation, 5 Aug 2026, page 13
  38. 38. Investor presentation, 5 Aug 2026, page 29
  39. 39. Annual report, 13 Aug 2026, page 70
  40. 40. Earnings call, 5 Aug 2026, page 4
  41. 41. Exchange filing, 10 Oct 2026, page 1
  42. 42. Exchange filing, 11 Sep 2026, page 1
  43. 43. Exchange filing, 11 Sep 2026, page 2
  44. 44. Exchange filing, 7 Jul 2026, page 2
  45. 45. Exchange filing, 24 Jun 2026, page 1
  46. 46. Exchange filing, 30 May 2026, page 1

Results

Consolidated; ₹ crore.Shilpa Medicare quarterly results

Revenue growth, 12 months
+27.9%
Net profit growth, 12 months
+167.6%

Quarter to Jun 2026, against the quarter before

Revenue
₹466 Crup 6.59%
Net profit
₹101 Crdown 6.41%
Net margin
21.7%

Revenue by quarter

₹344 CrSep 24₹319 CrDec 24₹331 CrMar 25₹321 CrJun 25₹370 CrSep 25₹410 CrDec 25₹437 CrMar 26₹466 CrJun 26
Peak revenue ₹466 Cr, quarter to Jun 2026; lowest ₹319 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹18 CrSep 24₹32 CrDec 24₹15 CrMar 25₹47 CrJun 25₹44 CrSep 25₹45 CrDec 25₹108 CrMar 26₹101 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue344319331321370410437466
Net profit183215474445108101
Net margin5.2%10.0%4.4%14.6%11.9%10.9%24.7%21.7%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Pharmaceuticle, which carries all its revenue.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2018: days before it are of the company before the change.Shilpa Medicare PE ratio and valuation

Price to earnings

At or below today's level on 74% of 1,776 trading days since Jun 2017.

LowestHighest
Its median42.20Industry median27.77
Price to book

At or below today's level on 98% of 964 trading days over the last 5 years.

LowestHighest
Its median2.46Industry median2.89
Dividend yield

At or below today's level on 32% of 2,479 trading days over the last 10 years.

LowestHighest
Its median0.13%Industry median0.49%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+5.4%+209.5%−66.0%0.2%
3 years+45.1%+88.1%−22.9%0.1%
5 years+16.0%+6.5%+8.8%0.1%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the years to Mar 2021, Mar 2025 and Mar 2026.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Shilpa Medicare shareholding pattern

Shareholding by group

  • Promoters40.13%
  • Foreign institutions12.11%
  • Indian institutions8.26%
  • Individuals and others39.49%
Holder
VISHNUKANT CHATURBHUJ BHUTADAPromoter6.51%
DHARMAVATI BHUTADAPromoter6.35%
RAVI KUMAR INNANIPromoter4.10%
SURAJ KUMAR INANIResident individuals, over ₹2 lakh at face value4.01%
OM PRAKASH INANIPromoter2.93%
DEEPAK KUMAR INNANIPromoter2.80%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 4.90% of their shares. Since Jun 2026: promoters unchanged, foreign institutions +0.73 pts, Indian institutions +0.21 pts, mutual funds −0.01 pts.

Mutual fund holdings

30 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 9 of the 16 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 30 funds holding Shilpa Medicare

Bought for the first time
1
Added
3
Cut
13
Held unchanged
13
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Shilpa Medicare insider trading

Bought on the market Sold on the market
  • Others0 purchases, 1 saleNo purchase₹0.42 CrNet−₹0.42 Cr
  • Promoters and promoter group: no market trade · 6 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Shilpa Medicare competitors and peers

Pharmaceuticals, 215 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Shilpa Medicare in market cap.Healthcare companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Wockhardt logoWockhardtWOCKPHARMA30,89175.536.25+18.4%–8.8%7.4%0.00%
Rubicon Research logoRubicon ResearchRUBICON26,65992.5020.68––22.4%25.8%0.09%
Neuland Laboratories logoNeuland LaboratoriesNEULANDLAB25,27550.7813.48+78.3%+182.6%29.3%32.1%0.17%
Granules India logoGranules IndiaGRANULES22,90734.58–+24.8%+38.1%15.1%15.1%0.21%
Onesource Specialty Pharma logoOnesource Specialty PharmaONESOURCE17,924–3.03+10.7%−103.9%0.0%1.5%0.00%
Caplin Point Laboratories logoCaplin Point LaboratoriesCAPLIPOINT17,67726.574.93+15.0%+17.7%20.7%19.8%0.34%
Alivus Life Sciences logoAlivus Life SciencesALIVUS17,37625.944.79+8.2%+26.3%20.2%23.1%0.35%
Cohance Lifesciences logoCohance LifesciencesCOHANCE16,999160.024.35+41.2%−58.5%3.8%3.0%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Shilpa Medicare dividend history

Dividend per share, ₹, restated for later splits and bonuses

0.3Mar 170.4Mar 180.5Mar 190.6Mar 200.6Mar 210.6Mar 22Mar 23Mar 240.5Mar 250.6Mar 26
Highest ₹0.60 a share, year to Mar 2026.
Ex-dateTypePer share
4 Sep 2026Final₹0.60
17 Sep 2025Final₹1.00
19 Sep 2022Final₹1.10
20 Sep 2021Final₹1.10
16 Mar 2020Interim₹1.10
12 Sep 2019Final₹1.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Shilpa Medicare announcements

Shilpa Medicare share price by year

Each calendar year to 2025.Shilpa Medicare share price history

YearClose at year endChangeHighest closeLowest close
2025321.15−21.2%492.90301.83
2024407.75+146.9%468.00158.80
2023165.15+18.7%191.35114.10
2022139.18−48.0%296.73134.08
2021267.55+18.8%330.88165.20
2020225.15+59.6%332.68121.98
2019141.05−26.8%206.73105.00
2018192.78−37.7%311.20180.70
2017309.55−10.4%364.03275.60
2016345.45+38.7%387.88186.70
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
29 Oct 2026932.00949.80922.90935.60935.873,86,41043.9%
28 Oct 2026909.00937.30906.00932.00924.275,73,68452.2%
27 Oct 2026912.60924.00895.10904.70911.544,08,61136.4%
26 Oct 2026880.00908.90860.00900.80886.058,71,84638.2%
23 Oct 2026860.80883.00838.80864.30862.249,55,72541.8%
22 Oct 2026826.30894.20820.40860.80867.4914,94,65929.5%
21 Oct 2026855.10882.90835.80845.20857.1414,15,25947.0%
19 Oct 2026890.00919.90855.20876.20888.1723,30,46948.3%
16 Oct 2026920.00962.00913.00937.60940.997,22,90642.3%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
3 Oct 2025Bonus0.5000Holders received 1 bonus share for every 1 held.
6 Nov 2015Split0.5000Each share became 2.
16 Jul 2013Bonus0.6667Holders received 1 bonus share for every 2 held.
28 Sep 2007Price move–Between two trading sessions the price fell 47% or more, or rose 90% or more. No corporate action is on record. Earlier prices are not shown.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Where an event has no factor that can be worked out, the chart leaves out the closes before it.

Company details

Chairperson
OM PRAKASH INNANI
At the end of the quarter to Sep 2026
Managing director
VISHNUKANT CHATURBHUJ BHUTADA
At the end of the quarter to Sep 2026
NSE symbol
SHILPAMED
BSE code
530549
ISIN
INE790G01031
Industry
Pharmaceuticals & Biotechnology
CIN
L85110KA1987PLC008739
Corporate identity number, the registrar of companies' code for it
Incorporated
1987
Registered office
12-6-214/ A1, Hyderabad Road, Raichur 584135, Karnataka
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments