Shilpa Medicare LtdNSE:SHILPAMED
Current view Q4 2026
Pharma turnaround finally paying off: profit doubled, debt slashed, new drug launched. But management repeatedly hypes then quietly drops promised drug deals, and a US FDA warning stays unresolved.
Latest exchange filings last 5 · 5 after Q4 2026
- 12 Sep ’26Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 12 Sep ↗
- 11 Sep ’26SEC approved OERIS™ marketing authorization on 11 September 2026; India launch planned. ↗
- 11 Sep ’26Shareholder Meeting / Postal Ballot-Outcome of AGM 11 Sep ↗
- 10 Sep ’26NCLT admits insolvency petition against FTF Pharma; CIRP starts, moratorium imposed, IRP appointed. ↗
- 19 Aug ’2639th AGM on 11 September 2026; annual report and e-voting details shared. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +59.5% | +21.1% | +34.0% | +18.3% |
| Operating profit | ▲ +57.9% | +93.5% | +22.8% | −2.2% |
| EPS | ▲ +1351.7% | +348.1% | +27.4% | −9.7% |
| PAT | ▲ +1283.3% | +343.8% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +59.5%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average52/100
Growing fast — and the market has noticed. Profit per share grew 27% a year, and buyers now pay more for each rupee of it than they did a year ago. Some of the re-pricing has already happened.
₹1,025 → ₹2,051 needs the P/E at 140× — it is 145× today, and has ranged 32× to 362× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 210× — it has traded there — high was 362×.
At ₹538 the price-tag on its earnings reaches the 76× it is being projected toward — the point where being cheap against that yardstick is used up.
Re-rated already, on growth that doesn't fully back it.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mid-cap at ₹18,253 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 27.4% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%.
How it compares with its rivals Healthcare · 6 of 159 listed
These are the industry's largest names rather than companies of its own size, so the columns are worth reading straight across — a ranking against them would only be restating the size gap.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Shilpa Medicare | ₹1,014 | 126.5× | ₹19,832 Cr | 4.8% | +157.8% | +104.5% |
| Sun Pharma.Inds. | ₹1,853 | 35.1× | ₹4.45 L Cr | 20.5% | +6.0% | +10.5% |
| Divi's Lab. | ₹9,379 | 83.5× | ₹2.49 L Cr | 22.0% | +65.5% | +27.8% |
| Torrent Pharma. | ₹4,855 | 82.8× | ₹1.85 L Cr | 15.2% | +5.8% | +54.9% |
| Zydus Lifesci. | ₹1,152 | 23.6× | ₹1.15 L Cr | 21.1% | −35.1% | +22.0% |
| Cipla | ₹1,375 | 31.0× | ₹1.11 L Cr | 15.5% | −39.2% | +2.3% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | wider, but it has moved around a lot | operating margin -81% → 30% over 3 years |
|---|---|---|
| Did the profit turn into cash? | very little of it arrived as cash | 52% last year, 38% over three · free cash flow −₹67 cr, positive in 0 of 5 years |
| Is the growth borrowed? | essentially debt-free | ₹132 cr — 0.05× its own equity (was 0.04×) |
| Is it being collected? | collection is steady | 136 days to collect, down 0 in a year · cash cycle 283 days |
| Who has been buying? | the promoters have been selling | promoters 40.1% (−4.1 in a year), 50.0% → 40.1% over 2.8 years · FIIs 11.4% (+0.2) · DIIs 8.1% (+0.6) · shareholders 44,094 → 60,926 |
| What does it earn on its capital? | earns little on its capital | ROCE 4.8% · ROE 3.9% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company is almost debt free.
- Company is expected to give good quarter
Against it
- Stock is trading at 7.19 times its book value
- Tax rate seems low
- Company has a low return on equity of 3.20% over last 3 years.
- Earnings include an other income of Rs.72.8 Cr.
- Dividend payout has been low at 7.74% of profits over last 3 years
- Promoter holding has decreased over last 3 years: -9.88%
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.