Shilpa Medicare Limited reported a strong set of Q4 results 2026, with the pharmaceutical company posting its highest-ever quarterly revenue and EBITDA, driven by robust growth in formulations, APIs, and improving operating leverage.
For the quarter ended March 2026, Shilpa Medicare’s consolidated revenue rose 30% year-on-year to ₹439 crore, compared to ₹338 crore in the same period last year. Gross profit increased 27% to ₹297 crore, while EBITDA climbed 40% to ₹121 crore, pushing EBITDA margin higher to 28% from 26% a year ago.
The standout figure in the Q4 results 2026 was adjusted net profit, which surged 147% YoY to ₹87 crore, up sharply from ₹35 crore in Q4FY25. On a sequential basis, profit also rose 59%, reflecting stronger product sales and better cost efficiency.
For the full fiscal year FY26, the company posted revenue of ₹1,549 crore, marking an 18% increase over FY25. Adjusted PAT came in at ₹232 crore, up 135%, while reported PAT jumped 211% to ₹243 crore. EBITDA reached a record ₹445 crore, with margins expanding to 29%.
The strong Q4 results 2026 were supported by solid performance in the formulations segment, where revenue jumped 54% in the quarter to ₹205 crore, led by domestic growth and the launch of Noduca™ for NAFLD treatment.
Shilpa Medicare also improved its balance sheet strength, with net debt-to-EBITDA falling to 1.4x from 1.6x, while ROCE improved to 17.4%. Looking ahead, investors will watch upcoming launches, including its Rotigotine patch and ADC facility commissioning in FY27, as the company builds momentum in specialty pharma and biologics.
| Metric | Q4 FY26 | Q4 FY25 | Growth |
|---|---|---|---|
| Revenue | ₹439 Cr | ₹338 Cr | +30% |
| Gross Profit | ₹297 Cr | ₹234 Cr | +27% |
| EBITDA | ₹121 Cr | ₹87 Cr | +40% |
| EBITDA Margin | 28% | 26% | +200 bps |
| Adjusted PAT | ₹87 Cr | ₹35 Cr | +147% |
| PAT Margin | 20% | 10% | +1000 bps |
| Metric | FY26 | FY25 | Growth |
|---|---|---|---|
| Total Revenue | ₹1,549 Cr | ₹1,310 Cr | +18% |
| Gross Profit | ₹1,088 Cr | ₹899 Cr | +21% |
| EBITDA | ₹445 Cr | ₹343 Cr | +30% |
| Profit Before Tax | ₹283 Cr | ₹153 Cr | +85% |
| Adjusted PAT | ₹232 Cr | ₹99 Cr | +135% |
| Reported PAT | ₹243 Cr | ₹78 Cr | +211% |
| Indicator | FY26 | FY25 | Trend |
|---|---|---|---|
| ROCE | 17.4% | 15.0% | Improved |
| Net Debt / EBITDA | 1.4x | 1.6x | Lower Debt |
| Total Borrowings | ₹658 Cr | ₹586 Cr | Stable |
| Net Capex | ₹172 Cr | ₹216 Cr | Reduced |
| Cash Balance | ₹46 Cr | — | Healthy |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachHis/d8fbdf4d-cadc-4d71-b78c-359c6dc287ea.pdf

