Shilpa Medicare Limited (IN:SHILPAMED)
:SHILPAMED
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Shilpa Medicare Limited
(SHILPAMED)
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Rating:65Neutral
Price Target:
₹550.00
▲(71.93% Upside)
Action:Reiterated
Date:05/26/26
The score is driven primarily by improved profitability and a healthier balance sheet, but is materially constrained by consistently negative free cash flow. Technical momentum is strong but appears overbought, and valuation looks relatively expensive with a very low dividend yield.
Positive Factors
Revenue Growth
Sustained top-line growth since FY2023, with acceleration into FY2026, implies improving product demand and market penetration. Over a 2–6 month horizon this supports scale economies, steadier contract volumes and R&D funding, reducing execution risk and enabling longer-term margin expansion.
Negative Factors
Persistent Negative FCF
Consistent negative free cash flow, even in a profitable year, indicates earnings are not translating into surplus cash after investments. Over months this constrains the firm's ability to self-fund growth, increases reliance on external financing and limits sustainable shareholder distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained top-line growth since FY2023, with acceleration into FY2026, implies improving product demand and market penetration. Over a 2–6 month horizon this supports scale economies, steadier contract volumes and R&D funding, reducing execution risk and enabling longer-term margin expansion.
Read all positive factors
Shilpa Medicare Limited (SHILPAMED) vs. iShares MSCI India ETF (INDA)
Market Cap
₹96.26B
Dividend Yield0.16%
Average Volume (3M)38.83K
Price to Earnings (P/E)40.1
Beta (1Y)0.87
Revenue Growth19.57%
EPS Growth209.85%
CountryIN
Employees1,007
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)7.01
Shares Outstanding195,581,820
10 Day Avg. Volume85,780
30 Day Avg. Volume38,829
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)2.63
Price to Sales (P/S)4.43
P/FCF Ratio-90.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)12.95
Revenue Forecast (FY)₹16.94B
Shilpa Medicare Limited Business Overview & Revenue Model
Company Description
Shilpa Medicare Limited, together with its subsidiaries, engages in the manufacturing and selling active pharmaceutical ingredients (API's), intermediates, and formulations in India, the United States, Europe, and internationally. It offers oncolo...
How the Company Makes Money
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Shilpa Medicare Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.42B | 15.39B | 12.86B | 11.53B | 10.43B | 11.40B |
| Gross Profit | 9.61B | 6.24B | 8.76B | 7.10B | 1.34B | 7.56B |
| EBITDA | 3.48B | 4.35B | 3.11B | 2.46B | 1.13B | 2.23B |
| Net Income | 1.37B | 2.43B | 782.93M | 318.74M | -325.33M | 606.62M |
Balance Sheet | ||||||
| Total Assets | 34.95B | 37.06B | 33.11B | 30.93B | 29.04B | 28.75B |
| Cash, Cash Equivalents and Short-Term Investments | 535.50M | 451.80M | 585.61M | 302.26M | 221.92M | 338.29M |
| Total Debt | 5.93B | 6.60B | 5.88B | 9.37B | 7.98B | 6.83B |
| Total Liabilities | 10.57B | 11.14B | 9.47B | 12.93B | 11.30B | 10.64B |
| Stockholders Equity | 24.37B | 25.91B | 23.72B | 18.09B | 17.83B | 18.22B |
Cash Flow | ||||||
| Free Cash Flow | 384.68M | -754.00M | -1.11B | -492.22M | -467.44M | -2.27B |
| Operating Cash Flow | 2.01B | 2.95B | 1.32B | 1.35B | 1.80B | 1.05B |
| Investing Cash Flow | -1.71B | -3.27B | -1.99B | -1.67B | -2.33B | -2.85B |
| Financing Cash Flow | -302.20M | 612.20M | 626.54M | 467.75M | 457.98M | 828.58M |
Shilpa Medicare Limited Technical Analysis
Positive
319.90
Price Trends
408.16
Positive
360.06
Positive
370.18
Positive
Market Momentum
26.01
Negative
66.79
Neutral
69.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHILPAMED, the sentiment is Positive. The current price of 319.9 is below the 20-day moving average (MA) of 457.00, below the 50-day MA of 408.16, and below the 200-day MA of 370.18, indicating a bullish trend. The MACD of 26.01 indicates Negative momentum. The RSI at 66.79 is Neutral, neither overbought nor oversold. The STOCH value of 69.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SHILPAMED.
Shilpa Medicare Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹153.89B | 24.00 | ― | 0.31% | 12.89% | 19.55% | |
74 Outperform | ₹106.50B | 18.43 | ― | 0.41% | 4.88% | 66.43% | |
68 Neutral | ₹84.31B | 31.45 | ― | ― | 5.85% | -25.45% | |
65 Neutral | ₹96.26B | 40.11 | ― | 0.16% | 19.57% | 209.85% | |
62 Neutral | ₹148.33B | 21.45 | ― | 1.28% | 10.08% | 15.65% | |
56 Neutral | ₹157.89B | 39.49 | ― | 0.46% | 14.45% | -52.50% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
IN:SHILPAMED
Shilpa Medicare Limited
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10.82%
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Shilpa Medicare Limited Corporate Events
Shilpa Medicare names industry veteran Vellaian Karuppiah as COO for formulations
Apr 23, 2026
Shilpa Medicare Limited has appointed Dr. Vellaian Karuppiah as Chief Operating Officer for its formulations business with effect from 23 April 2026, following approval by the Nomination and Remuneration Committee. The move brings in a senior lead...
Shilpa Medicare Closes Trading Window Ahead of FY26 Results
Mar 25, 2026
Shilpa Medicare Limited has announced the closure of its trading window for designated persons, their immediate relatives, and other connected persons in line with SEBI’s Prohibition of Insider Trading Regulations, 2015. The window will be c...
Shilpa Medicare Wins NCLT Approval to Merge Wholly Owned Subsidiary
Mar 5, 2026
Shilpa Medicare Limited has received approval from the National Company Law Tribunal’s Bengaluru Bench for the amalgamation of its wholly owned subsidiary, Shilpa Therapeutics Private Limited, with the parent company. The tribunal sanctioned...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.