Shilpa Medicare Limited — PPTs, 22-05-2026: Investor Presentation

Shilpa Medicare delivered a robust FY26, with revenue up 18% YoY to INR 1,549 Cr and EBITDA surging 30% to INR 445 Cr, achieving a 29% margin. Q4 also showed strong momentum, with revenue growing 30% to INR 439 Cr and EBITDA up 40% to INR 121 Cr. Adjusted PAT for FY26 skyrocketed 135% to INR 232 Cr. API (49%), Formulations (40%), and Biologics (10%) drove growth, with Formulations revenue up 30% and API up 16%. Net Debt to EBITDA improved to 1.4x, and Adjusted ROCE reached 17.4%.

The company is strategically focused on R&D and manufacturing investments to build a differentiated portfolio and become a one-stop CDMO partner. Key growth drivers include its novel NorUDCA product for NAFLD, expanding international FDF presence with new transdermal patches, and monetizing Biologics capabilities through high-value collaborations.

Recent highlights include the successful launch of NorUDCA, positive Phase 3 results for its novel Ondansetron ER Injection, and the USFDA submission for its first transdermal patch. In API, 15+ new oncology APIs are in the pipeline, and Biologics has added four new biosimilar programs, progressing global launches and initiating Phase 3 trials for Recombinant Human Albumin. Management sees accelerating momentum, a strong R&D pipeline, and strategic partnerships setting the stage for a stronger FY27 with improved capital efficiency.