Shilpa Medicare Ltd Share Price – NSE /  BSE

Pharmaceuticals, Small Cap

The key equity indices traded with substantial gains in early afternoon trade. The Nifty traded above the 23,700 level. Auto shares extended gains for the third consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, climbed 1,007.70 points or 1.30% to 78,346.71. The Nifty 50 index soared 293.40 points or 1.25% to 23,747.20.

In the broader market, the S&P BSE Mid-Cap index rallied 1.72% and the S&P BSE Small-Cap index jumped 1.80%.

The market breadth was strong. On the BSE, 2,862 shares rose and 942 shares fell. A total of 120 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 5.35% to 14.36. The Nifty 28 November 2024 futures were trading at 23,816.35, at a premium of 69.15 points as compared with the spot at 23,747.20.

The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 42.01 lakh contracts at the 24,000 strike price. Maximum Put OI of 53.8 lakh contracts were seen at 23,000 strike price.

Buzzing Index:

The Nifty Auto index added 2.33% to 23,581.15. The index rallied 3.58% in the three consecutive trading sessions.

Mahindra & Mahindra (up 3.63%), Apollo Tyres (up 3.29%), Exide Industries (up 3.16%), Bharat Forge (up 3.05%) and Bosch (up 2.9%), Tata Motors (up 2.73%), Eicher Motors (up 2.55%), Hero MotoCorp (up 2.42%), Samvardhana Motherson International (up 2.17%) and TVS Motor Company (up 2.01%) advanced.

Stocks in Spotlight :

Shilpa Medicare rallied 3.77% after the company’s 100% subsidiary, Shilpa Pharma Lifesciences received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Octreotide.

Meanwhile, Shilpa Pharma Lifesciences also received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Nifedipine.

V-Mart Retail rose 0.85%. The company informed that a fire accident occurred at one of its stores located in Ahmedabad, Gujarat, on Monday, 18 November 2024.

Easy Trip Planners added 2.27% after the company’s board fixed Thursday, 8 November 2024 as the record date for the proposed bonus issue of equity shares. On 14 October 2024, the company’s board had approved the issuance of one bonus equity share for every one fully paid-up equity share held by shareholders (1:1) as on record date.

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Octreotide, a synthetic peptide manufactured by Shilpa Pharma Lifesciences through solid-phase synthesis, is used in the treatment of conditions such as acromegaly, severe diarrhea/flushing episodes associated with metastatic carcinoid tumors, and profuse watery diarrhea associated with Vasoactive Intestinal Peptide (VIP)-secreting tumors.

This approval marked Octreotide as the second peptide molecule in Shilpa’s peptide portfolio. The CEP highlighted the company’s expertise and commitment to quality-oriented development and commercial production, meeting global quality standards.

Meanwhile, Shilpa Pharma Lifesciences also received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Nifedipine.

Nifedipine is in a class of medications called calcium-channel blockers in the dihydropyridine subclass. Nifedipine is used as an antihypertensive and as an anti-anginal medication. It lowers blood pressure by relaxing the blood vessels so the heart does not have to pump as hard. It controls chest pain by increasing the supply of blood and oxygen to the heart.

Raichur-based Shilpa Medicare is a vertically integrated, manufacturer and distributor of quality drugs to global markets; specializing in the oncology therapeutic segment and introducing novel drugs focusing on patient convenience and compliance.

The drug maker's consolidated net profit soared 1042.68% to Rs 17.94 crore on a 9.85% rise in revenue from operations to Rs 343.80 crore in Q2 FY25 over Q2 FY24.

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Profit before tax (PBT) surged 300.98% to Rs 36.77 crore in Q2 FY25 over Q2 FY24.

EBITDA jumped 46.54% to Rs 91 crore in Q2 FY25 from Rs 62.1crore registered in Q2 FY24. EBITDA margin improved to 26% in Q2 FY25 from 20% in Q2 FY24.

Total expenses were up by 2.61% year on year to Rs 311.63 crore in the quarter ended 30 September 2024. Cost of materials consumed stood at Rs 98.43 crore (down 17.98% YoY) while employee benefits expense was at Rs 76.16 crore (down 4.2% YoY).

On half year basis, the company’s consolidated net profit surged to Rs 32 crore in H1 FY25 as compared to Rs 2.75 crore recorded in H1 FY24. Revenue from operations jumped 11.02% YoY to Rs 636.31 crore in H1 FY25.

Vishnukant Bhutada, managing director of Shilpa Medicare said, “Our strategic focus on delivering innovative solutions and driving operational excellence continues to yield strong business performance. The recent positive developments in our formulations and CDMO businesses are particularly exciting. The recent acceptance of Oxylanthanum Carbonate NDA by USFDA with target action date in June 25 and the recent USFDA approvals of Bortezomib are significant milestones that validate our commitment to quality, innovation, and patient care.

As we continue to expand our global footprint and diversify our product portfolio, we are well-positioned to deliver sustainable growth and create value for our stakeholders. We remain committed to leveraging our strong R&D capabilities to develop cutting-edge products and solutions that address unmet medical needs. We believe that long term sustainability and growth is a product of focusing on strategic partnerships, operational efficiencies, and a customer-centric approach, which are the core values of our business philosophy

Shilpa Medicare is manufacturing of API, Formulation and Development service. Shilpa Medicare Limited (SML) started its operations as API manufacturer way back in 1987 at Raichur, Karnataka- India.

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Net profit of Shilpa Medicare rose 1014.29% to Rs 17.94 crore in the quarter ended September 2024 as against Rs 1.61 crore during the previous quarter ended September 2023. Sales rose 9.85% to Rs 343.80 crore in the quarter ended September 2024 as against Rs 312.98 crore during the previous quarter ended September 2023.

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