Transcript of the Q4FY26 Conference call
SHILPAMED · price
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Shilpa Medicare delivered its highest ever quarterly revenue of INR439 crores in Q4 FY26, up 30% YoY, with full year revenue of INR1,549 crores (18% growth). EBITDA reached INR121 crores in Q4 with 28% margin and INR445 crores for FY26 with 29% margin, improving approximately 3% YoY. The company highlighted diversification across APIs, specialty formulations, biologics and ADCs with integrated CDMO capabilities. Key product updates include NorUDCA showing steep QoQ growth since November launch, Rotigotine patch launching in Europe in FY27, Aflibercept on track for FY27 launch, and recombinant human albumin Phase III study approved. Management declined to provide specific FY27 guidance but indicated confidence in continuing the growth trajectory.
Strong operational performance with margin improvement demonstrates successful execution of the diversified pharma platform strategy. The company is transitioning from a pure API player to a differentiated pharmaceutical company spanning multiple high-value segments, which could re-rate the stock higher as biologics and specialty formulations contribute more to revenues.