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Manufactures active pharmaceutical ingredients and formulations, with a focus on oncology drugs, for global markets.
Manufactures active pharmaceutical ingredients and formulations, with a focus on oncology drugs, for global markets.
Sells cancer-drug ingredients by the batch to generic makers, which also gives it a base for its own finished formulations, and contract manufacturing for other companies adds a second revenue source. Its biosimilars, copies of biologic drugs, are separate and need regulatory approvals before they can sell.
In one line: A niche Indian oncology API/formulations maker.
Moat: narrow (regulatory licence, process know-how). Specialized oncology API manufacturing (cytotoxic handling) requires regulatory approvals rivals lack.
Headquarters: Raichur, India · Founded: 1987 · Employees: 1,132
Size Shilpa Medicare (SHILPAMED.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $1.95B, the 375th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹942.35 on 6 Nov 2026.
Performance Over six months the shares gained 113.3%, against -10.0% for the median peer and 0.0% for the India market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 27.9% over the last twelve months (peer median +9.4%); the operating margin is 20.9% (peer median 12.8%).
Valuation It trades at 62.1× forward earnings against a peer median of 21.4× (4th most expensive of 19).
Capital Return on invested capital runs 0.1 points above its cost of capital (10.1% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹16.8B | ₹15.4B | ₹12.8B | ₹11.5B | ₹10.4B |
| Revenue growth | — | +20% | +12% | +10% | — |
| Gross profit | ₹6.88B | ₹4.93B | ₹3.62B | ₹2.55B | ₹1.34B |
| EBITDA | ₹4.79B | ₹3.84B | ₹3.08B | ₹2.38B | ₹858M |
| Net income | ₹2.97B | ₹2.43B | ₹783M | ₹319M | -₹325M |
| Free cash flow | n/a | -₹754M | -₹1.80B | -₹1.39B | -₹1.03B |
| Capital expenditure | n/a | ₹3.71B | ₹2.44B | ₹1.85B | ₹2.27B |
| Total debt | n/a | ₹6.60B | ₹5.88B | ₹9.37B | ₹7.98B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shilpa Medicare SHILPAMED.NS | $1.95B | +113% | +28% | 21% | 62.1× | n/a |
| NATCO Pharma NATCOPHARM.NS | $1.68B | -30% | -21% | 25% | 18.8× | 15.3% |
| Biocon BIOCON.NS | $6.28B | -4% | +6% | 8% | 56.4× | n/a |
| Dr. Reddy's Laboratories DRREDDY.NS | $12.1B | +5% | -4% | 9% | 31.8× | 30.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SHILPAMED.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.0% | 0.0% | 3rd lowest of 21 |
| 6-month return | +113.3% | -10.0% | highest of 21 |
| Distance from 52-week high | -13.9% | -30.1% | 5th highest of 21 |
| Revenue growth (TTM) | +27.9% | +9.4% | 2nd highest of 21 |
| Operating margin | 20.9% | 12.8% | 9th highest of 21 |
| Forward P/E | 62.1× | 21.4× | 4th most expensive of 19 |
| ROIC minus cost of capital | +0.1 pp | -1.6 pp | 9th highest of 21 |
| EV / EBITDA | 38.6× | 13.4× | 2nd most expensive of 9 |
| Net debt / EBITDA | 1.3× | -0.1× | 4th most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shilpa Medicare SHILPAMED.NS | India | $1.95B | +113% | +28% | 21% | 62.1× | n/a | n/a |
| Tibet Rhodiola Pharmaceutical 600211.SS | China | $1.95B | 0% | +13% | 27% | 13.0× | -0.5% | +16.7% |
| OneSource Specialty Pharma ONESOURCE.NS | India | $1.94B | -12% | +11% | 6% | 45.0× | n/a | n/a |
| Sino Biological 301047.SZ | China | $1.98B | +50% | +20% | 17% | 63.8× | 36.8% | -15.1% |
| Harmony Biosciences HRMY | United States | $1.93B | +7% | +20% | 22% | 8.6× | -10.9% | +40.3% |
| Alivus Life Sciences ALIVUS.NS | India | $1.92B | +32% | +8% | 31% | 24.4× | 20.4% | +6.2% |
| ApicHope Pharmaceutical 300723.SZ | China | $1.99B | -28% | -28% | -50% | 25.7× | 14.0% | -11.0% |
| Caplin Point Laboratories CAPLIPOINT.NS | India | $1.92B | +28% | +15% | 31% | 24.6× | 29.3% | +15.7% |
| Shenyang Xingqi Pharmaceutical 300573.SZ | China | $1.91B | -25% | +17% | 33% | 13.7× | 6.0% | +29.1% |
| United Laboratories International 3933.HK | Hong Kong | $2.00B | -19% | -13% | 5% | 14.5× | 3.7% | +7.8% |
| BrightGene Bio-Medical Technology 688166.SS | China | $2.00B | -51% | +14% | 7% | 87.6× | 38.5% | +9.2% |
| Anhui Anke Biotechnology (Group) 300009.SZ | China | $2.01B | -9% | -9% | 30% | 19.3× | 9.1% | +9.3% |
| Alembic Pharmaceuticals APLLTD.NS | India | $2.01B | +24% | +20% | 12% | 24.4× | 25.0% | +6.5% |
| Maze Therapeutics MAZE | United States | $1.90B | +29% | +700% | -728% | n/a | n/a | n/a |
| Grand Pharmaceutical 0512.HK | Hong Kong | $2.01B | -27% | +7% | 13% | 9.8× | 1.2% | +14.1% |
| Qingdao Baheal Medical 301015.SZ | China | $2.02B | +4% | -6% | 8% | 23.5× | 11.9% | +5.0% |
| Henan Lingrui Pharmaceutial 600285.SS | China | $2.02B | +7% | +5% | 22% | 15.9× | -4.8% | +10.6% |
| Shenzhen Hepalink Pharmaceutical 9989.HK | Hong Kong | $1.89B | -18% | -1% | 8% | 8.3× | 0.4% | -0.2% |
| Sarepta Therapeutics SRPT | United States | $1.88B | -11% | -20% | -3% | n/a | 11.9% | +32.4% |
| Prestige Consumer Healthcare PBH | United States | $2.04B | -18% | -1% | 26% | 9.3× | -0.2% | +2.9% |
| Jinyu Bio-Technology 600201.SS | China | $2.04B | -15% | +22% | 10% | 62.4× | 24.4% | -2.4% |