This is the stock’s biggest single-day gain since February 4, 2020, when the stock had risen 18.2%.
The drugmaker’s net profit more than doubled to ₹101 crore from ₹47 crore in the previous year.
Revenue for the quarter increased by 45% to ₹466 crore from ₹321.5 crore last year.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased 48.6% to ₹136.2 crore form ₹91.6 crore last year.
EBITDA margin expanded to 29.25% from 28.52% in the year-ago period.
Gross margins for the quarter fell to 71% from 76% during the same quarter last year.
Revenue for the API business grew nearly 15% for the quarter with the captive business showing consistent growth led by steady internal demand from the FDF vertical. Non-captive revenue also grew nearly 15% from last year.Shilpa Medicare said in its investor presentation that the Specialty CDMO division continues to see strong traction, driven by new client acquisitions in the developed markets.
The Novel products business doubled from the same quarter last year. Excluding licensing income, revenue growth stood at 112%. US business growth was driven by the niche portfolio gaining meaningful commercial traction.
European formulations revenue stood at ₹57 crore, a growth of 84% from last year led by continued portfolio expansion and market penetration. Domestic formulations business grew by 179% from last year.
Shares of Shilpa Medicare are trading 11.6% higher after the results announcement at ₹716.75. The stock is up 127% for the year so far.
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