The call ran from 4:01 PM to 4:45 PM IST (44 min).
Key takeaways
Record Q2 revenue of ₹538 Cr (+35%) and EBITDA of ₹151 Cr (28% margin), but gross margin fell roughly 700 bps and management deflected several key questions.
| Revenue growth | Revenue +35% YoY to ₹538 Cr; licensing income boost unquantified. |
|---|---|
| Margins | EBITDA margin 28% in Q2; gross margin down ~700 bps YoY. |
| Demand visibility | Peptide demand based on customer indications; no firm orders in hand. |
| Management confidence | Overly optimistic; CEO bullish, CFO deflects forward-looking questions. |
Growth
Revenue +35% YoY to ₹538 Cr; H1 ₹1,007 Cr (+44%). Formulation +50%+, ex-licensing base +87%; licensing share undisclosed.
Outlook
No forward guidance given. Peptide utilisation comment deferred to next year's H2. No albumin revenue guidance.
Risks
Gross margin down ~700 bps on API mix and raw material costs. Licensing share undisclosed. US FDA remediation at a plant.
Last quarter's promises, checked
Partly delivered
- Guided EBITDA margin around 30%, 'similar range' → delivered 28% (= PARTIAL)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Shilpa Medicare Q2 FY27 Results: Net Profit ₹79.2 Cr, Up 79.6% YoY
Shilpa Medicare Ltd reported revenue from operations of ₹529.1 Cr (+43.0% YoY) and net profit of ₹79.2 Cr (+79.6% YoY) for Q2 FY27.
- Key figure
- Net profit ₹79.2 Cr · +79.6% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting global launches for high-value molecules like Nor-UDCA and Recombinant Albumin by FY28-FY29.
Growth they described
Revenue grew 30% YoY in Q4; EBITDA expanded 40% YoY with margins improving to 28% through favorable operating leverage.
Call details
| Company | Shilpa Medicare Ltd |
|---|---|
| NSE symbol | SHILPAMED |
| ISIN | INE790G01031 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 5 November 2026 |
| Time | 4:00 PM IST |
| Length | 44 min |
| Audio | Our stream on YouTube ↗ |
Shilpa Medicare Ltd: key numbers
- Share price
- ₹923.00
- Market cap
- ₹18,052 Cr
- Revenue (annual)
- ₹1,539 Cr
- Net profit (annual)
- ₹243.3 Cr
- P/E (TTM)
- 54.3×Sector 37.9×
- Promoter holding
- 40.13%+0.00% QoQ
- FII holding
- 12.11%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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