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Shilpa Medicare Ltd (SHILPAMED)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 530549 NSE: SHILPAMED Pharmaceuticals & Drugs | Small Cap | Shilpa Medicare Share Price

₹536.75 10.65 (2.02%)

As on 05-Jun'26 16:59

Shilpa Medicare Ltd (SHILPAMED)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 530549 NSE: SHILPAMED Pharmaceuticals & Drugs | Small Cap | Shilpa Medicare Share Price

₹536.75 10.65 (2.02%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹10,290 Cr.
Current Price
₹536.8
52-Week Low / High
₹260 / 537
TTM EPS
₹12.4
TTM Sales
₹1,539 Cr.
Book Value per Share
₹132.5
P/E Ratio
42.29
Lower than its 5-year historical median
Industry PE
46.5
Price to Book (P/B)
3.97
Higher than its 5-year historical median
Price to Sales (P/S)
6.69
Higher than its 5-year historical median
EV/EBITDA
24.52
Higher than its 5-year historical median
Dividend Yield
0.15%
Profitability Efficiency
Return on Equity (ROE)
3.75%
Underperforms industry median
Return on Capital Employed (ROCE)
6.94%
Underperforms industry median
Return on Assets (ROA)
2.45%
Operating Profit Margin
23.6%
Net Profit Margin
6.09%
Gross Profit Margin
20.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
11.71%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
29.05%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
144.99%
Asset Quality
Promoter Holding
40.13%
Pledged shares (%) of Promoter's holding (%)
8.73%
Reserves
₹2,572 Cr.
Equity
₹19.6 Cr.
Face Value
₹1
All Time Low / High
₹0.20 / 531.90

Shilpa Medicare stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Shilpa Medicare Ltd a good quality company?
Shilpa Medicare Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Shilpa Medicare Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Shilpa Medicare Ltd vs industry peers?
Shilpa Medicare Ltd revenue CAGR is 7.22%, compared to the industry median CAGR of 5.35%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Shilpa Medicare Ltd?
Promoters hold 40.13% of the Shilpa Medicare Ltd, with 8.73% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Shilpa Medicare Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 7.6% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Shilpa Medicare Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 19.7%15.3%11.1%10.5%12.4%10.7%5.9%0.8%5.5%6.9%-
Value Creation
Index
0.40.1-0.2-0.3-0.1-0.2-0.6-0.9-0.6-0.5-

Growth Parameters

Sales 7167797897339089011,1461,0501,1521,2861,539
Sales YoY Gr.-8.8%1.2%-7%23.8%-0.8%27.1%-8.3%9.7%11.7%-
Adj EPS 7.26.565.48.95.52.9-2.41.24.512.4
YoY Gr.--10%-7.6%-10.7%65.8%-38.4%-46.2%-182.7%NA269.1%-
BVPS (₹) 41.561.666.573.581.590.7105102.7104.2121.3132.5
Adj Net
Profit
11110497.787.31458951-42.121.388.9243
Cash Flow from Ops. 12937.544.914712446.9105180137132-
Debt/CF from Ops. 0.76.44.31.33.1186.54.46.94.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.7%7.2%3.9%11.7%
Adj EPS -5%-12.5%15.6%269.1%
BVPS12.7%8.3%4.9%16.4%
Share Price 8.9% 13.8% 67.2% 17.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
18.712.89.47.711.46.33.1-2.31.24.39.8
Op. Profit
Mgn %
22.520.819.221.123.619.117.48.420.523.728.2
Net Profit
Mgn %
1512.912.111.515.89.74.4-3.91.96.915.8
Debt to
Equity
0.10.20.20.20.30.60.40.50.50.30.1
Working Cap
Days
158193237266230286280309273270120
Cash Conv.
Cycle
598411614112617016518616016629

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales7167797897339089011,1461,0501,1521,286
Operating Expenses + 556618638579693729948962916982
Manufacturing Costs67798995118129172167148176
Material Costs366372356257278271383416394398
Employee Cost 90128149176197235264286281293
Other Costs 33394451101941289292116
Operating Profit 16016215115421517219788236304
Operating Profit Margin (%) 22.3%20.7%19.2%21.0%23.6%19.1%17.2%8.4%20.5%23.6%
Other Income + 11293316224021311736
Exceptional Items -2-5020061906-28
Interest 433452241599276
Depreciation 2331374244548095108113
Profit Before Tax 140146137136188195102-3854122
Tax 36423426334942-72244
Profit After Tax 10510410311015514661-313278
PAT Margin (%) 14.6%13.4%13.0%14.9%17.0%16.2%5.3%-2.9%2.8%6.1%
Adjusted EPS (₹)7.06.76.56.99.69.13.5-1.91.84.0
Dividend Payout Ratio (%)4.30%4.50%5.40%7.30%5.70%6.10%15.70%0%0%12.50%

Valuation of Shilpa Medicare - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 6399871,0851,1981,3291,4791,8221,7831,8092,372
Share Capital 88888899910
Reserves 6329791,0771,1891,3211,4711,8141,7751,8002,362
Debt +74235166168330718557633921539
Long Term Debt01436881165474354289560232
Short Term Debt74929887165243203344361307
Minority Interest2-3-5-8-8-11-11-9-9-9
Trade Payables10611210481937714614317495
Others Liabilities 109141149172245371362354188300
Total Liabilities 9311,4721,4991,6101,9892,6322,8752,9043,0833,298

Fixed Assets

Net Fixed Assets +3934925345586501,1111,3421,3681,3851,418
Gross Block5827057938539861,4211,7271,8471,9472,076
Accumulated Depreciation189213259295336311385478562658
CWIP 92141210429666541506655719822
Investments 942531402102134434035
Inventories134190189188226333355320345348
Trade Receivables125171220204247234386324392441
Cash Equivalents 1110074954512434223229
Others Assets 81126132135144269218172171206
Total Assets 9311,4721,4991,6101,9892,6322,8752,9043,0833,298

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 129374514712447105180137132
PBT 140146137136188195102-3854122
Adjustment 21171928426109148221195
Changes in Working Capital -3-93-7019-63-106-72103-98-138
Tax Paid -30-34-41-36-42-48-34-32-41-47
Cash Flow From Investing Activity + -109-262-9-196-290-404-285-233-167-199
Capex -114-116-137-78-345-349-331-225-172-216
Net Investments 4-1491259850-5614-949
Others 134-2165131218
Cash Flow From Financing Activity + -20313-611017643683464763
Net Proceeds from Shares 0172000029700489
Net Proceeds from Borrowing 0128-56-6882381-121-27123-295
Interest Paid -4-3-3-4-4-22-41-58-92-77
Dividend Paid -11-5-70-170-9-1000
Others -52158211578-4214116-54
Net Cash Flow -088-25-391079-98-717-4

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)17.6612.859.939.5912.2310.413.67-1.711.783.75
ROCE (%)19.6915.2811.1310.4512.3810.735.940.85.496.94
Asset Turnover Ratio0.790.650.530.470.50.390.420.360.380.4
PAT to CFO Conversion(x)1.230.360.441.340.80.321.72N/A4.281.69
Working Capital Days
Receivable Days52.306990.20105.5090.6097.3098.80123.50113.50118.20
Inventory Days6775.5087.3093.7083.20113.30109.70117.30105.4098.30
Payable Days90.70107.20110.60131113.90114106126.70146.70123.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *90.4190.4190.417.907.927.927.927.928.738.73
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Shilpa Medicare Ltd FAQs

The current trading price of Shilpa Medicare on 05-Jun-2026 16:59 is ₹536.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Shilpa Medicare stood at ₹10,289.6 Cr

The latest P/E ratio of Shilpa Medicare as of 04-Jun-2026 is 77.38.

The latest P/B ratio of Shilpa Medicare as of 04-Jun-2026 is 3.79.

The 52-week high of Shilpa Medicare is ₹536.8 and the 52-week low is ₹260.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shilpa Medicare is ₹597 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Shilpa Medicare Ltd is a good quality company.

The key valuation ratios of Shilpa Medicare Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Shilpa Medicare Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Shilpa Medicare Ltd

Shilpa Medicare, established in 1987, has carved a niche for itself in the exceedingly competitive and quality-conscious sphere of pharmaceuticals manufacturing. It produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.  

The company has earned its spurs as a successful and reliable partner within the pharmaceutical industry. Buyers within the country and from across the borders count on its fast track integrated process development and finely honed expertise of its skilled and experienced personnel. The company is already exporting to USA, Canada, Australia, Japan and European countries viz., Germany, Switzerland, Netherlands, Belgium, Spain, Greece, Cyprus, Italy, United Kingdom etc., South American countries like Mexico, Brazil, Columbia etc, African countries like Kenya, Nigeria and West Indies etc, Asian countries like Singapore, Taiwan, China, Malaysia, Thailand and closer to home to Iran, Egypt, Pakistan and Bangladesh.  Shilpa Medicare is synergizing strength through tie-ups for manufacturing products and co-marketing rights, for it believes in working together and sharing success.

Being proactive in approach, the company continually seeks out enquiry’s for development of new products drawing from the extensive knowledge-base of its qualified and experienced people as well as sophisticated facilities.

Product range of the company includes:

Oncology AP's

  • Anastrozole 
  • Bicalutamide 
  • Carboplatin 
  • Gemcitabine HCI
  •  Irinotecan HCl Trihydrate
  • Oxaliplatin 
  • Temozolomide 
  • Cisplatin 
  • 5-Fluoro
  • Bortezomib 
  • Capecitabine 
  • Decarbazine 
  • Docetaxel 
  • Gefitinib 
  • Hydroxy urea 
  • Imatinib Mesylate 
  • Lenalidomide 
  • Letrozole
  • Methotrexate 
  • Thalidomide 
  • Topotecan HCl
  • Zoledronic acid 

General APIs

  • Ambroxol HCl 
  • Ticlopidine HCl 
  • Buflomedil HCl 
  • Nifedipine 
  • Lamivudine 
  • Sildenafil Citrate 
  • Terfenadine 
  • Acebrophylline 
  • Phenylephrine HCl 
  • Ursodeoxycholic acid 

PRODUCTS UNDER DEVELOPMENT (Oncology)

  •  Bendamustine Cladribine
  •  Decitabine Disodium Pamidronate
  •  Epirubicin Exemustane
  •  Fludarabine Phosphate  Idarubicine
  •  Paclitaxel  Pemetrexed
  •  Lomustine  Methotrexate
  •  Pamidronic acid  Tandutinib 

NUTRITIONAL SUPPLEMENTS 

  • Chromium picolinate  Chromium polynicotinate   

DRUG INTERMEDIATES

  • Trans-4-amino cyclohexanol
  • 2-Amino-3,5-dibromobenzaldehyde
  • 1,3,5-Trimethoxy Benzene 
  • 1,3,5-Tribromo Benzene
  • 7-ethyl camptothecin 
  • 7-ethyl-10-hydroxy camptothecin

Awards & Achievements:

  • Karnataka State Govt. 'Best Enterpreneur Award'.
  • Govt. of India 'Best Enterpreneur Award'.
  • ‘Star Export House’ Status from Ministry of Commerce and Industry, Govt. of India
  • 'cGMP' Certificates from W.H.O. for 20 API's
  • 'Best Export Award' from Visvesvaraya Industrial Trade Centre, Bangalore, Govt. of Karnataka,  INDIA
  • 'Outstanding Industrial Award' from Indian Junior Chamber.
  • 'Registration with 'Russian Health Authority' for Ambroxol HCl
  • 'Certificate of Suitability' received from EDQM for Ambroxol HCl (R0-CEP 2004-201-Rev 00)
  • 'Certificate of Suitability' received from EDQM for Ticlopidine HCl (R0-CEP 2005-004-Rev 00)
  • 'Certificate of Suitability' received from EDQM for Carboplatin (R0-CEP 2006-212-Rev 00)
  • Patent application on Irinotecan HCl Trihydrate 'An improved process for the preparation of Irinotecan HCl Trihydrate' published as WO2006016203 on date 2006-02-16
  • Patent file for Gemcitabine HCl and Anastrozole manufacturing process.
  • Filed ASMF/EDMF of Gemcitabine HCl over 21 EU countries
  • Filed ASMF/EDMF of Irinotecan HCl Trihydrate HCl over 27 EU countries
  • Filed ASMF/EDMF of Oxaliplatin HCl over 11 EU countries
  • 'Best District Export Award' received from FKCCI, Bangalore on 16.06.2007
  • Korean FDA Approved for Gemcitabine HCl & Ambroxol HCl
  • COS received from EDQM for Buflomedil HCl (R0-CEP 2006-080-Rev.00)
  • COS received from EDQM for Oxaliplatin EP (R0-CEP 2006-201-Rev.00)
  • 'Best District Export Award' received from FKCCI, Bangalore on 20.06.2008.
  • COS received from EDQM for Gemcitabine HCl EP (R0-CEP 2006-222-Rev 00)
  • 2010 - Shilpa Medicare Limited was granted certificate of GMP Compliance of Manufacturer for Gemcitabine Hydrochloride
  • 2012 - Shilpa Medicare Ltd has been conferred First Prize of the National Energy Conservation Award-2012 in the Drugs & Pharmaceuticals Sector from Ministry of Power, New Delhi.
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