SHILPAMEDHealthcare

Shilpa Medicare Limited

Pharmaceuticals · ISIN INE790G01031 · BSE 530549 · NSE EQ · FV ₹1
Last price
₹958
+3.26%today
What this company does

Shilpa Medicare Limited operates in Pharmaceuticals, part of the Healthcare sector. It booked ₹466 cr of revenue in its latest quarter (Q1 FY27) and kept 21.7% of sales as profit.

Shaping the Future of Healthcare Founded in 1987, Shilpa Medicare has evolved into an innovative healthcare partner dedicated to ensuring the availability of affordable medicine for everyone in need. Over the last 35+ years, we have created a niche for ourselves in the highly competitive and quality-conscious pharmaceutical manufacturing industry through our commitment to innovation and excellence in delivery.
Their stated mission

to deliver high-quality, market for this product exceeds USD markets, covering a broad range of affordable biologics to patients 9 billion, underscoring its significant therapeutic areas.

In the report:
52out of 100
Equitytale Health Score
Mixed

Healthier than 52% of companies in Healthcare, on all six measures of filed financials. Each measure is ranked against the 33–150 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
64

At close. Not part of the score.

Profitability & returns62

How much profit it earns on the money it employs

Balance sheet41

How much it owes, and whether earnings cover the interest

Cash quality33

Whether reported profit actually arrives as cash

Growth & consistency71

Whether sales and profit have grown, and how steadily

Valuation35

What today's price implies, against our models or its peers

Governance & risk74

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 22% net margin
Sales up 45% vs last year
Profit up 115% vs last year
Promoters hold 40%
Strong 16% return on equity
Turns profit into real cash
Watch-outs
! 8.7% of promoter stake pledged

What if I invest in SHILPAMED?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹958 +3.26%
latest close · 2026-09-17
1-year return
+233.8%
52-wk low ₹19052-wk high ₹980
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio46.4High
LowAverageHigh
P/B ratio7.23High
Below bookModerateHigh
EV / EBITDA34.7High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity15.6%Strong
WeakFairStrong ▸15%
Return on capital14.6%Fair
WeakFairStrong
Net margin21.7%Strong
ThinDecentStrong
EBITDA margin29.9%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.25Comfortable
LowModerateHigh ▸1
Interest cover8.6×Strong
RiskyOkayStrong ▸5×
Current ratio1.31Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹18,736 cr
Book value
₹133
EPS
₹5.16
latest quarter
Net debt
₹617 cr
owes more than its cash
Enterprise value
₹19,353 cr
EBITDA
₹558 cr
annualised
EBIT
₹417 cr
annualised
Operating margin
22.4%
Return on assets
10.9%
Earnings yield
2.15%
P/S
10.06
Sales / share
₹95.3
Tax rate
-3.1%
Face value
₹1,956
Shares
19.6 cr
Working capital
₹262 cr
Current assets
₹1,110 cr
Current liabilities
₹848 cr
Delivery %
39.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹103₹124, midpoint ₹114

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹466 cr
Other Income₹3 cr
Total Income₹469 cr
Cost of Materials₹145 cr
Purchases of Stock-in-Trade₹8 cr
Inventory Change (±)₹-18 cr
Employee Benefit Expense₹100 cr
Finance Costs₹12 cr
Depreciation & Amortisation₹35 cr
Other Expenses₹95 cr
Total Expenses₹377 cr
Profit before Tax₹92 cr
Tax Expense₹-3 cr
Share of JV / Associates₹6 cr
Net Profit₹101 cr
Net margin on total income21.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹135 cr28.3%
Employee benefit expense₹100 cr20.9%
Finance costs₹12 cr2.5%
Depreciation & amortisation₹35 cr7.4%
Other expenses₹95 cr19.8%
Profit for the period₹101 cr21.1%
Total income ₹469 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue410 cr437 cr466 cr
Total income411 cr439 cr469 cr
Expenses336 cr362 cr377 cr
Profit before tax61 cr120 cr92 cr
Tax16 cr13 cr-3 cr
Net profit (owners' share)45 cr108 cr101 cr
Net margin (owners' share, on revenue)10.9%24.7%21.7%
EPS (₹)2.365.515.16
YoY (latest quarter): total income +43.0% · net profit +115.2%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹3,706 cr
Shareholder equity
₹2,591 cr
parent shareholders
Total debt
₹658 cr
Cash
₹41 cr
Cash flow · H1 FY26
Operating
₹201 cr
Investing
₹-171 cr
Financing
₹-30 cr
Peer comparison
Pharmaceuticals · by market value
CompanyPriceMarket capP/E
Sun Pharmaceutical Industries Limited₹1,867₹4.48 L cr38.6
Divi's Laboratories Limited₹9,323₹2.47 L cr68.7
Torrent Pharmaceuticals Limited₹4,875₹1.65 L cr82.0
Zydus Lifesciences Limited₹1,135₹1.13 L cr30.4
Cipla Limited₹1,376₹1.11 L cr35.2
Laurus Labs Limited₹1,948₹1.05 L cr71.5
Dr. Reddy's Laboratories Limited₹1,175₹98,113 cr55.1
Aurobindo Pharma Limited₹1,690₹97,243 cr23.7
Lupin Limited₹2,098₹95,936 cr16.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.06%
trailing 12 months
Dividend / share (TTM)
₹0.6
Last dividend
₹0.6
ex 4 Sep 2026
ActionDetailEx-date
Dividend₹0.6 / share4 Sep 2026
Bonus issue1:13 Oct 2025
Dividend₹1 / share17 Sep 2025
Dividend₹1.1 / share19 Sep 2022
Dividend₹1.1 / share20 Sep 2021
Dividend₹1.1 / share16 Mar 2020
Who owns it · 2026-06-30
8.7% pledged
Promoter
40.1%
FII / Foreign
11.4%
DII / Domestic
8.1%
Retail / others
40.4%
Promoter stake down 9.9% over the last 12 quarters.
Smart-money activity
Insider trades
SoldPRIYA INANI · Promoter Group1.00 L · ₹8.4 cr12 Dec 24
SoldRAMAKANT INNANI · Promoter Group6.75 L · ₹57.9 cr23 Sep 24
SoldBRIJGOPAL INNANI · Promoter Group2.00 L · ₹17.2 cr23 Sep 24
Bulk / block deals
short · NSE12426 Aug 26
short · NSE212 Aug 26
BoughtMICROCURVES TRADING PRIVATE LIMITED · NSE10.78 L @ ₹759.366 Aug 26
Stake changes
BoughtVishnukanth C Bhutada→ 44.39% · 1.10 cr13 Apr 24
BoughtPivotal Enterprises Pvt Ltd→ 5.71%30 Jun 23
BoughtPivotal Enterprises Pvt Ltd→ 5.71% · 2.83 L21 Oct 22
Promoter pledges
PledgedBajaj Finance Ltd6.75 L · 0.00% held23 Sep 24
ReleasedAnand Rathi Global Finance Limited2.00 L · 3.15% held25 Oct 23
PledgedCatalyst Trusteeship Limited2.00 L · 2.91% held25 Oct 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 11 Sep 2026
See the official result
1
To receive, consider and adopt the audited standalone and consolidated financial statements of the company for the financial year ended 31 March 2026, together with the report of Board of Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
3.42 cr votes for, 12 against · 0% of mutual funds and other big investors said no
2
To declare final dividend of Rs. 0.60/- per equity shares for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
3.43 cr votes for, 12 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Sharath Reddy Kalakota (DIN:03603460), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 98% of shareholders other than promotersneeded 50%
3.36 cr votes for, 7.02 L against · 3% of mutual funds and other big investors said no
4
Ratification of remuneration of Cost Auditors.
Backed by 100% of shareholders other than promotersneeded 50%
3.43 cr votes for, 12 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 21 named members
owning 40.1% between them · as of 2026-06-30
VISHNUKANT CHATURBHUJ BHUTADA6.51%
DHARMAVATI BHUTADA6.35%
RAVI KUMAR INNANI4.10%
OM PRAKASH INANI2.93%
DEEPAK KUMAR INNANI2.80%
KANTADEVI INANI2.60%
KESHAV BHUTADA2.05%
MADHAV VISHNUKANT BHUTADA2.05%
Business done with them
FY2024 · 4 of the group
The company paid ₹2 cr to companies in the promoter group last year — about 0.2% of its ₹1,152 cr revenue.
Ramakant Innani
Other payments to them · Salary and perquisites
also owns 1.53% of the company
₹91.5 L
company paid
Ravi Kumar Innani
Other payments to them · Salary and perquisites
also owns 4.10% of the company
₹62.9 L
company paid
Keshav Bhutada
Other payments to them · Salary and perquisites
also owns 2.05% of the company
₹25.6 L
company paid
Sagar Innani
Other payments to them · Salary
also owns 1.02% of the company
₹12.4 L
company paid

The company also transacted with 19 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.