Shilpa Medicare share price today

Shilpa Medicare Ltd's share price was ₹931.10 at the close on 4 November 2026. It has been rising for 28 weeks. That is 38.7% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹267 and ₹1,064, and at that close it sat 83% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Shilpa Medicare Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 44 weeks in a row.

Over the last 11 years the share price moved +323% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹466 crore, +45.2% on a year earlier.

   Why: Revenue rose because all three parts of the business sold more. The biggest pushes came from contract manufacturing in the ingredient business, complex finished medicines for the US, and licensing and partnership work in biologic medicines.

   Next results: check whether domestic sales bounce back as stocked orders get delivered, since management said the dip was about stocking and delivery timing, not weak demand.

   From the earnings call on 5 Aug 2026.

3. Foreign funds (FIIs) raised their stake for 4 quarters in a row

   From 10.9% to 12.1% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), Shilpa Medicare reported revenue of ₹466 crore, up 45.2% from ₹321 crore a year earlier, and a profit of ₹101 crore, up 114.9% from ₹47.0 crore.

Shilpa Medicare results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Shilpa Medicare's management discussed these results on a call held on 5 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Shilpa Medicare closed at ₹931.10 on 4 November 2026, up 152.6% from ₹368.55 a year earlier (7 November 2025) and up 211.0% over five years. Its highest weekly close since March 2016 was ₹1,064.10 on 1 October 2026.

Shilpa Medicare share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Shilpa Medicare closed at ₹931.10, down 2.6% on the week and down 12.5% on the month. 4 Sep 2026: ex-date for a dividend of ₹0.60 a share.

Earlier

• 5 Aug 2026: Shilpa Medicare held its results call for April to June 2026. Management guided: Tax rate expected to normalize at around 25% in coming quarters.
• Results for April to June 2026: Revenue up 45.2% and profit up 114.9% on a year earlier.
• 3 Oct 2025: Bonus issue: 1 new share for every 1 held (ex-date).

Shilpa Medicare paid ₹0.60 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.06% at the ₹931.10 close on 4 November 2026. The last was a dividend of ₹0.60 a share, ex-date 4 September 2026.

Shilpa Medicare dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Shilpa Medicare Ltd paid out 5% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 5 August 2026, Shilpa Medicare's management guided: Tax rate expected to normalize at around 25% in coming quarters.

“In simple terms, the reinvesting is largely behind us, and the harvesting is ahead of us.”Keshava Bhutada, Executive Director & CEO, on the call for April to June 2026

What management guided

• Operating margin expected to remain in a similar range.
• No significant Capital spending expected in biologics or albumin for the next 3 years.
• Peptide block commissioning by end-FY27, 15 new oncology validations in FY27, and three advanced CDMO programs commercial in FY28.
• Nor-UDCA global Phase 2 starts FY27; Abraxane, Enzalutamide, and Abiraterone launches planned for FY28; Rotigotine launch on track for FY28.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 5 August 2026.

What is changing at Shilpa Medicare, from the latest results and calls: operating leverage inflection, formulations revenue mix shift (eu + india new launches) and biologics/cdmo monetization (aflibercept + adc + albumin pipeline).

• Operating Leverage Inflection. Operating margin at 28-29% for five consecutive quarters vs 24-26% year-ago; ROCE recovered from 4% (FY23) to 17.4% (FY26) as fixed costs absorb across a larger revenue base. ⚠ estimate
• Formulations Revenue Mix Shift (EU + India new launches). Formulations ₹618 Cr (+30% on a year earlier) in FY26; EU formulations surged over 100% to ₹200+ Cr; Nor-UDCA shows steep on the previous quarter growth; Rotigotine EU launch FY27. ⚠ estimate
• Biologics/CDMO Monetization (Aflibercept + ADC + Albumin Pipeline). Biologics ₹150 Cr (+100% on a year earlier) in FY26; Aflibercept India/Russia FY27 launch with major licensing income; ADC Phase 1 FY27; Albumin IMPD Europe H1 FY27. ⚠ estimate
• Interest Cost Reduction. Net debt ₹613 Cr (FY26) at 1.38x operating profit; interest expense trajectory down from ₹26 Cr (Sep 2024) to ₹14 Cr (Mar 2026); FY27 capital spending self-funded. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

FDA observations submitted with compliance response filed; re-audit pending; until cleared, Uniza CDMO (PDUFA June 2026) and US pipeline launches from this facility remain gated.

The main risks

• Raichur FDA Re-Audit (Unresolved, Binary US Gate): FDA observations submitted with compliance response filed; re-audit pending; until cleared, Uniza CDMO (PDUFA June 2026) and US pipeline launches from this facility remain gated. ✓ fact
• Recurring Management Timeline Slippage, Four New Instances: April to June 2026 concall added 4 new slippages: SMLTOP09 human studies delayed, Aflibercept Europe abandoned, Unicycive OLC revenue deferred to FY28, Albumin IMPD shifted to H1 FY27, total 8+ misses across 5 concalls. ✓ fact
• Licensing Revenue Lumpiness + Nilotinib Competition FY28: Licensing income ~₹200 Cr FY26 but guidance is 'similar range, may be lopsided'; Nilotinib generic competition expected current year but deferred to FY28 via tender structure. ✓ fact
• Promoter Stake Decline: Promoter at 44.23% (Sep 2025), stable for 3 quarters after declining 5.78pp in FY25; no promoter stake-building visible despite strong operational delivery. ✓ fact

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When Shilpa Medicare reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Rotigotine commercialization - check execution against the stated timeframe and US partner readiness.

Shilpa Medicare is on 3 of our India lists: Momentum stocks, Small & mid cap stocks and Pharma stocks.

Shilpa Medicare Ltd earned ₹101 Cr of net profit in the Jun 2026 quarter, +114.9% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹243 Cr. Over 10 years profit has grown 9.4% a year on average. That is 21.7% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹47.0 Cr.

For the full year, FY26 profit was ₹243 Cr (+211.5% on the year before).

Why profit moved: revenue changed +45.2% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +230.0% and revenue +28.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q4. revenue ₹437 Cr and profit ₹108 Cr as reported.

FY27-Q1. revenue ₹466 Cr and profit ₹101 Cr as reported.

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

Shilpa Medicare Ltd reported ₹466 Cr of revenue in the Jun 2026 quarter, +45.2% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 7.9% a year on average. The last full year, FY26, came in at ₹1,535 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,683 Cr.

FY26 revenue was ₹1,535 Cr, +19.8% on the year before.

Recent pace: the last four quarters grew +28.3% on average, against 7.9% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +28.0%, against +19.2% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +166.1%, against +157.3% a year (accelerating).

FY26-Q4. revenue ₹437 Cr and profit ₹108 Cr as reported.

FY27-Q1. revenue ₹466 Cr and profit ₹101 Cr as reported.

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

Shilpa Medicare Ltd's operating margin was 29.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 9.0% and 28.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. FY26 full-year EBITDA ₹445 Cr grew 30% YoY on revenue growth of 18%, margin expanding while revenue scales. Q4 FY26 showed EBITDA ₹121 Cr (+40% YoY) on revenue ₹437 Cr (+30% YoY). The operating leverage is structural: capacity built over six years of heavy capex is now generating returns.

Why the margin moved: operating margin changed +1.0 percentage points on the year while gross margin changed −4.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

FY26-Q4. revenue ₹437 Cr and profit ₹108 Cr as reported.

FY27-Q1. revenue ₹466 Cr and profit ₹101 Cr as reported.

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

Over the last 3 years, 173% of Shilpa Medicare Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹342 Cr of operating cash against ₹243 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹357 Cr of spending on assets, free cash was −₹15.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 173% of profit came in as cash: the cash cycle got 124 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.3× depreciation over three years. The next section checks what that spending is building.

Shilpa Medicare Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 301 days in FY26, down from 425 days in FY21. It spent ₹795 Cr on assets over the last 3 years. Customers take 123 days to pay, and stock sits for 291 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,535 Cr, each day of that cycle ties up about ₹4.2 Cr, so roughly ₹1,266 Cr is tied up in the business at any time.

FY26: customers took 123 days to pay and stock sat for 291 days, about 9.6 months of sales sitting as stock, for a full cycle of 301 days, shorter than FY21's 425.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 291 days. Customers pay about 123 days after that. Suppliers are paid at 113 days. Together that makes the 301-day cycle.

Spending on assets: ₹795 Cr over the last 3 years, against ₹341 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹884 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Shilpa Medicare Ltd's P/E is 64.0×, near the high end of its own history: higher than 72% of past readings. Its usual P/E (the middle reading) is 42.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹15.20.