Shilpa Medicare Limited — PPTs, 26-05-2025: Investor Presentation

1. Financial Highlights:

Shilpa Medicare reported FY25 revenue of INR 1,310 Cr, up 13% YoY, led by Formulations and Biologics. Gross margin improved 400 bps to 69%, with EBITDA growing 35% to INR 340 Cr and margin expanding to 26%. Adjusted PAT more than doubled to INR 97 Cr, boosting margin to 7%. 4QFY25 revenue stood at INR 338 Cr (+15%), EBITDA at INR 84 Cr (+15%), and adjusted PAT soared 65% to INR 33 Cr (10% margin). Strong balance sheet with net debt/EBITDA at 1.6x and ongoing capex supports growth.

2. Strategic Initiatives & Growth Drivers:

New US NDAs, EU filings for transdermal patches, and Nor-UDCA launch prep are key growth drivers. API capacity expansions (UDCA, Palbociclib, Nilotinib) set to fuel FY26 growth. Biologics pipeline advances with clinical phases and growing CDMO contracts. FY26 optimism hinges on six high-potential formulations, expanded CDMO commercial activity, and recombinant human albumin entering Phase 3 in India, backed by EU commercialization partnership.

3. Business Developments:

CDMO business strengthened by major microbial and mammalian contracts plus a unique USD 4 million polymer biomedical project. Partnership with Orion Corporation targets recombinant human albumin commercialization in Europe. New customers onboarded in API and CDMO segments. Regulatory clearances including EU GMP and API unit certifications enhance scale and credibility.

4. Market Position & Competitive Advantage:

Shilpa’s specialty API portfolio—focused on oncology/non-oncology—and advanced platforms (peptides, ADCs, biologics) differentiate it. Integrated “clone-to-vial” CDMO capabilities position it as a preferred outsourcing partner. Proprietary recombinant human albumin process is scalable, cost-efficient, animal-origin free, and patent-protected in US/EU, addressing critical unmet needs. Global footprint across 50+ countries with regulatory compliance supports sustainable edge.

5. Investor Implications:

Strong revenue and margin gains from diversified specialties signal positive growth potential. Specialty product focus, capacity ramp-up, and approvals mitigate execution risks. Investments in biologics and CDMO, plus strategic alliances, offer multiple future value drivers. Key milestones to monitor are recombinant albumin commercialization and new drug launches validating scale and margin improvement in FY26.