About Shilpa Medicare Limited

Shilpa Medicare Limited is an Indian pharmaceutical company engaged in manufacturing Active Pharmaceutical Ingredients (APIs), intermediates, formulations, new drug delivery systems, peptides, biotech products, and specialty chemicals, with origins as an API manufacturer in Raichur in 1987 and commercial production from November 1989; it became a public company in November 1993 and was listed on BSE on June 19, 1995 and NSE on December 03, 2009, later attaining WHO-GMP recognition for its facilities. The company operates three plants and two offices in India, serves 28 States and 8 Union Territories domestically, and exports to 74 countries across the US, EU, Canada, Australia and RoW, with exports contributing 91.58% of revenue in FY 2024–25 on a standalone basis.

• History and activities: Founded in 1987 in Raichur, Karnataka; commenced commercial operations in November 1989; public since November 1993; BSE listing on June 19, 1995 and NSE on December 03, 2009; recognized with WHO-GMP; core activities include APIs, formulations, intermediates, new delivery systems, peptides, biotech products, and specialty chemicals.

• Products/services: Manufacture of formulations accounted for 99.01% of turnover; power contributed 0.99% in FY 2024–25 on a standalone basis, reflecting the primary focus on pharmaceutical formulations within the broader pharma portfolio outlined above.

• Operating geographies: National footprint of 3 plants and 2 offices; international sales to 74 countries; exports constituted 91.58% of turnover in FY 2024–25.

• Subsidiaries: The company has multiple wholly owned subsidiaries and step-down subsidiaries, including Koanaa entities in Austria, Spain, UK, Canada, Shilpa Biologicals Private Limited, Shilpa Biocare Private Limited, Shilpa Pharma Lifesciences Limited, FTF Pharma Private Limited, INM Technologies Private Limited, Shilpa Therapeutics Private Limited, Shilpa Pharma Inc. (USA), Pilnova Pharma Inc. (USA), Indo Biotech SDN. BHD. (Malaysia), Koanna International FZ-LLC (UAE), and others as per related party and AOC-1 references, indicating a diversified global structure; the specific counts and balances are detailed in the annexures for FY 2024–25.

• Key milestones: Initial manufacturing start (1989), conversion to public limited (1993), BSE listing (1995), NSE listing (2009), and WHO-GMP recognition; sustained evolution into leading supplier of oncology and non-oncology APIs and intermediates.

Shilpa Medicare Limited Business Segments

• Turnover mix: Pharmaceuticals — Manufacture of formulations contributed 99.01% of turnover in FY 2024–25 on a standalone basis.

• Geographic split (Standalone FY 2024–25):
  • India — Rs 40.20 crore (8.4%)

  • International — Rs 437.14 crore (91.6%)

Note: Revenue from operations was Rs 477.34 crore on a standalone basis for FY 2024–25, used for the above computations per BRSR disclosures.

Shilpa Medicare Limited Key Management

• Om Prakash Inani — Chairman (Non-Executive, Promoter).

• Vishnukant Chaturbhuj Bhutada — Managing Director (Promoter).

• Kalakota Sharath Reddy — Whole-Time Director.

• Company Secretary & Compliance Officer: Ms. Ritu Tiwary.

• Chief Financial Officer: Alpesh Maheshkumar Dalal.
  

Latest Updates on Shilpa Medicare Limited

• Completed full redemption of NCDs raised by subsidiaries Shilpa Pharma Lifesciences Limited (up to Rs 350.00 crore) and Shilpa Biologicals Private Limited (up to Rs 100.00 crore), funded partly by April 2024 QIP proceeds of Shilpa Medicare Limited and partly by new loans; all related arrangements and binding agreements on the listed entity were released.

• Successfully executed a qualified institutions placement in April 2024, with securities premium addition of Rs 498.90 crore and share issue expenses of Rs 9.99 crore recorded in FY 2024–25 standalone statements.

• Reinforced export-led growth with 91.58% export contribution to turnover in FY 2024–25, serving 74 countries.

• Implemented Zero Liquid Discharge at Units 3 and 6 (Dabaspet) and strengthened environmental metrics, including Scope 1 emissions of 2,614.10 tCO2e and Scope 2 emissions of 12,670.20 tCO2e in FY 2024–25.