Shares of Shilpa Medicare gained attention on Tuesday, November 19, following a major milestone for its 100% subsidiary, Shilpa Pharma Lifesciences Limited, which received a Certificate of Suitability (CEP) from the European Directorate for the Quality of Medicines & Healthcare (EDQM) for its API, Octreotide.
As of 9:15 am the shares were trading 4.14% higher at Rs 898.95 0n NSE.
Key Highlights:
- Octreotide API: A synthetic peptide manufactured using solid-phase synthesis, Octreotide is used for treating acromegaly, severe diarrhea/flushing episodes related to metastatic carcinoid tumors, and vasoactive intestinal peptide (VIP)-secreting tumors.
- Portfolio Expansion: Octreotide is the second peptide molecule in Shilpa’s peptide portfolio, highlighting the company’s commitment to quality-oriented development and global quality standards.
Q2 FY25 Financial Performance:
- Net Profit: Soared 1042.68% YoY to ₹17.94 crore.
- Revenue from Operations: Increased by 9.85% YoY to ₹343.80 crore.
- EBITDA: Jumped 46.54% YoY to ₹91 crore, with the EBITDA margin improving to 26% from 20% in Q2 FY24.
- Total Expenses: Increased by 2.61% YoY to ₹311.63 crore.
- Cost of Materials Consumed: Declined 17.98% YoY to ₹98.43 crore.
- Employee Benefits Expense: Decreased 4.2% YoY to ₹76.16 crore.
Company Overview:
Shilpa Medicare, established in 1987 in Raichur, Karnataka, specializes in the development, manufacturing, and sale of generic drugs, APIs, and biotechnology products. It began commercial production in 1989, building a strong reputation for quality and innovation in the pharmaceutical industry.
With the addition of Octreotide to its peptide portfolio, Shilpa Medicare further cements its position as a leading player in the global pharmaceutical market, reflecting its focus on innovation and adherence to international standards.
