Shilpa Medicare reported a strong set of results for the September quarter, with consolidated net profit rising 79.5% year-on-year (YoY) to ₹79 crore, compared with ₹44 crore in the corresponding quarter last year.
Revenue increased 43% to ₹529 crore in Q2 FY27, compared with ₹370 crore a year ago, according to the company’s exchange filing.
EBITDA rose 30.3% YoY to ₹142 crore from ₹109 crore in the year-ago period. However, EBITDA margin declined 250 basis points to 27% from 29.5% in the corresponding quarter last year.
Peptide expansion and global customer wins strengthen FY27 outlook
In its specialty contract development and manufacturing organisation (CDMO) business, Shilpa Medicare said commercial supplies to a European customer are expected to commence in the second half of FY27, marking an upcoming revenue milestone.
The company also reported a strong order book in its peptide segment, providing healthy revenue visibility for FY27.
Shilpa Medicare is expanding its peptide manufacturing capabilities, adding one of India’s largest solid-phase synthesis capacities. The expanded facility is designed to cater to requirements across GLP-1, high-potency active pharmaceutical ingredients (HPAPI) and CDMO segments.
The company said its semaglutide drug master file (DMF) is ready for filing. It also highlighted its position as one of the few Indian companies with both synthetic and semi-synthetic manufacturing routes.
In its polymer division, Shilpa Medicare has onboarded a new US customer and received initial orders, with execution expected to be completed by the second half of FY27.
Additionally, the company has added a new customer from Japan, with commercial supplies expected to begin by the end of FY27.
Orion partnership adds to Shilpa Medicare’s immuno-oncology ambitions
Commenting on the company’s performance and business outlook, Managing Director Vishnukant Bhutada said its novel finished dosage form (FDF) portfolio continues to make steady progress, with niche product launches lined up through FY27 and beyond.
He said these launches are expected to contribute meaningfully to growth and strengthen the quality of the company’s business over time.
Bhutada also highlighted the company’s expanded partnership with Orion Corporation, which extends their relationship into immuno-oncology through an exclusive arrangement for Shilpa Medicare’s Nivolumab biosimilar in Europe.
Under the arrangement, Shilpa Medicare will serve as the development and supply partner.
“With strong first-half momentum, a maturing pipeline, and a sharpened strategic focus, we are well positioned to deliver a stronger FY27,” Bhutada said.
Shares of Shilpa Medicare were trading 0.6% higher at ₹937.25 at around 2 pm. The stock has declined 8.9% over the past month but has gained 197.3% so far this year.