Shilpa Medicare Limited · NSE:SHILPAMED
Shilpa Medicare — Q1 FY2027 Earnings Presentation
37 slides from Shilpa Medicare's earnings presentation, Aug 5, 2026
Slide 1: Stock exchange cover letter for investor presentation
Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 Date: 5 August 2026 To, Corporate Relationship D
Slide 2: Shilpa Medicare Ltd 1QFY27 Earnings Presentation
Shilpa Medicare Ltd 1QFY27 Earnings Presentation Date: 5th August 2026
Slide 3: Safe Harbour
Safe Harbour Certain statements in this document may be forward - looking statements. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ
Slide 4: Shilpa Medicare at a glance
Shilpa Medicare at Established in 1987, we have 35+ years track record a glance Existing Business Segments: API , Formulation, CDMO, Biologics Emerging Businesses: NDDS, ADC and Recombinant Human Albumin 10+ Regulatory approved manufacturing + R&D facilities (incl Analytical Lab) 400+ R&D Personnel
Slide 5: Key operating verticals
Key operating verticals API Formulations Biologics 11% 1QFY27 Revenue 47% contribution 42% ▪ Shilpa Pharma Lifesciences ▪ Shilpa Medicare ▪ Shilpa Biologicals Legal ▪ Shilpa Therapeutics ▪ Shilpa Biocare Entities ▪ FTF Pharma Areas of ▪ Oncology ▪ Tablets/Capsules ▪ NBE Operation ▪ Non-Oncology ▪ In
Slide 6: Management Commentary
Management Commentary We begin FY27 on a strong note, with 1QFY27 reflecting healthy revenue growth of 43% (YoY) and EBITDA growth of 42% (YoY), with a robust margin of 30%, led by consistent improvement visible across our three key verticals. This performance reaffirms the operating discipline and
Slide 7: Financial Performance
Financial Performance 6
Slide 8: 1Q FY27 – Financial Highlights
1Q FY27 – Financial Highlights Highest Quarterly Revenue and EBITDA 1Q FY27 (Consolidated) Revenue Break-up (INR crs) Particulars (INR cr) 1QFY27 1QFY26 YoY 4QFY26 QoQ Biologicals, Total Revenue 469 328 43% 439 7% 52 Gross Profit 334 248 34% 297 13% 11% GP Margin 71% 76% 68% Formulation, EBITDA 139
Slide 9: Consolidated Performance
Consolidated Performance (INR in Cr.) Revenues EBITDA and Margins 30% 30% 121 139 98 28% 328 439 469 1QFY26 4QFY26 1QFY27 1QFY26 4QFY26 1QFY27 Operating PBT and Margins PAT and Margins 20% 22% 20% 18% 15% 92 14% 77 50 101 87 47 1QFY26 4QFY26*^ 1QFY27^ 1QFY26 4QFY26* 1QFY27 *Before Exceptional Items
Slide 10: Financial Summary
Financial Summary Adjusted ROCE^ Gross Block (INR crs) 17.4% 18.3% 15.0% 9.3% 2,281 2,328 1,997 3.4% 1,587 1,670 FY23 FY24 FY25 FY26 1QFY27* FY23 FY24 FY25 FY26 1QFY27 Net Debt to EBITDA (x) Net Capex (INR crs) 6.7 5.8 361 1.6 1.4 1.3 225 216 172 114 FY23 FY24 FY25 FY26 1QFY27* FY23 FY24 FY25 FY26 1
Slide 11: API Business
API Business 10
Slide 12: API – Growth driven by core portfolio
API – Growth driven by core portfolio (INR in Cr.) ▪ Revenue growth came in at ~15% Incl. Captive 226 259 260 YoY for the quarter ▪ The captive business continued to 36 36 grow consistently, underpinned 17 by steady internal demand from the FDF vertical, reinforcing its role as a long-term revenue c
Slide 13: API – Ongoing Developments
API – Ongoing Developments API Molecules Specialty CMDO ▪ One program received US FDA approval ▪ 20+ products across the Onco and Non-Onco API portfolio ▪ Strong order book in Peptide segment provides healthy are currently under development, with validations for all ▪ Successfully completed 2 new au
Slide 14: Formulations Business
Formulations Business 13
Slide 15: Novel product – First‐in‐class treatment for NAFLD
Novel product – First‐in‐class treatment for NAFLD ▪ First‐in‐Class treatment for Non‐alcoholic Fatty Liver Disease (NAFLD) in India ▪ First Company globally to obtain approval for NorUDCA in NAFLD indication ▪ NAFLD is currently the most prevalent liver condition globally, affecting about 25% of th
Slide 16: Novel product launch drives significant growth
Novel product launch drives significant growth (INR in Cr.) ▪ Delivered robust revenue growth of over 98 205 198 100% YoY. Reflecting broad-based momentum across all key markets ▪ Ex-Licensing income, revenue grew at 26 29 ~112% (YoY) ▪ US revenue grew sharply to INR 45 crs, 35 24 driven by our nich
Slide 17: FDF – Update on complex pipeline
FDF – Update on complex pipeline SMLINJ015 SMLOSD016 SMLTDP08 SMLINJ011 SMLOSD017 SMLTOP09 SMLTDP012 SMLOSD014 Nab- Paclitaxel Enzalutamide Rotigotine Ondansetron ER Abiraterone (Abraxane) (Xtandi) ▪ Transdermal Patch ▪ Topical lotion for ▪ A Novel Long- ▪ An innovative ▪ A unique patient- ▪ Targeti
Slide 18: Filings – Formulations
Filings – Formulations Formulations – Regulatory Filings Pending Approved 31 91 11 785 17 370 73 8 14 415 18 3 *US ANDA and NDA EU Canada RoW Robust regulatory filings to strengthen the base for growth in the formulation segment 20+ new approvals were received in 1QFY27 17 *Note: US Approvals also i
Slide 19: Biologics & NBE
Biologics & NBE 18
Slide 20: Driving Growth Through a High-Value Biosimilars Portfolio
Driving Growth Through a High-Value Biosimilars Portfolio Development Approved/ Pre-Clinical Phase 1/3 Therapy *Global market Completed Commercial Adalimumab Immunotherapy ~USD 27 bn Aflibercept Ophthalmology ~USD 6 bn Nivolumab Oncology ~USD 12 bn Pembrolizumab Oncology ~USD 35 bn Daratumumab Oncol
Slide 21: Biologics: Novel Pipeline & Integrated Platforms
Biologics: Novel Pipeline & Integrated Platforms Novel Biologics Integrated CDMO @Dharwad ADC Platform ▪ Novel MAB (oncology): Our development ▪ Five active Novel Biologic Entity (NBE) ▪ Shilpa’s First ADC biosimilar is expected to program is underway for a key asset with programs advancing for mult
Slide 22: Why Recombinant Human Albumin ?
Why Recombinant Human Albumin ? Predictable & assured All raw materials used High quality/Purity supply – Product in in the production are Meets Global yeast (Pichia pastoris) free from animal standards by fermentation sources Freedom from Best in class potential productivity – makes contamination t
Slide 23: Recombinant Human Albumin – High growth opportunity
Recombinant Human Albumin – High growth opportunity Key highlights ▪ Entered into a strategic partnership with Orion Corporation for commercialization in Europe region for therapeutic use Shilpa’s novel ▪ Under this agreement, Orion will be the exclusive partner for the distribution, marketing, and
Slide 24: CDMO Business
CDMO Business 23
Slide 25: Covering full spectrum of CDMO technologies
Covering full spectrum of CDMO technologies Very strong capability Strong capability Developing capability Negligible capability Indian CDMOs Global CDMOs Shilpa Medicare Peer 1 Peer 2 Peer 3 Global Peer 1 Global Peer 2 Global Peer 3 Specialized technologies Small molecule Peptide Monoclonal Antibod
Slide 26: Robust business model encompassing various stages
Robust business model encompassing various stages Value chain Late stage development & Commercial Development & Clinical supplies stages Manufacturing Clinical development Commercial Phases Pre-Clinical Development Registration & Supplies Manufacturing ▪ Drug metabolism, pharmacokinetics (DMPK) ▪ Ph
Slide 27: Comprehensive CDMO Development
Comprehensive CDMO Development Long term manufacturing and supply Unicycive Therapeutics Inc’s agreement with SML. SML’s milestone income spans over Oxylanthanum Carbonate (OLC) is a various stages viz. filing, approval and Potential best-in-class product being launch of the product developed under
Slide 28: Growth Roadmap: Outlook & Manufacturing Excellence
Growth Roadmap: Outlook & Manufacturing Excellence 27
Slide 29: From Lab to Market: Unlocking Value in API & FDF
From Lab to Market: Unlocking Value in API & FDF Expected Launch Molecule / Product / Markets Status / Milestone Horizon Launched in India in 3Q FY26 with 3 large marketing partners + own label. Order book firm for NorUDCA (FDF) — India + Global Launched in 3QFY26 FY27. Additional markets targeted a
Slide 30: From Lab to Market: Unlocking Value in Biologics
From Lab to Market: Unlocking Value in Biologics Expected Launch Molecule / Product / Markets Status / Milestone Horizon Aflibercept (Biosimilar) — India + Phase III (India + RoW) nearing completion in 1HFY27. Commercialization in India expected FY27 RoW in FY27. Partnered with 2 ophthalmic-focused
Slide 31: Outlook
Outlook FDF CDMO API Biologics Hybrid – Nilotinib (limited competition), One NCE project commercialized in 20+ new APIs in the development grid Strong Biosimilar pipeline with various Axitinib & Rotigotine FY26 large assets completing clinical trails, Multiple complex API launches, growth coupled wi
Slide 32: Manufacturing Capabilities – API & Biocare
Manufacturing Capabilities – API & Biocare API Unit I - Raichur API Unit II - Raichur Biocare - Kadechur • Manufacturing and R&D Centre Onco, Non-Onco NCE, APIs, Peptide and • Fully automated integrated facility with DCS Capabilities • Small molecule development, Linker, GalNAc Polymers, Manufacturi
Slide 33: Manufacturing Capabilities – Formulations & Biologics
Manufacturing Capabilities – Formulations & Biologics Formulations - Jadcherla Formulations - Bangalore Biologics - Dharwad End-to-end services, from development to commercial manufacturing of microbial & Capabilities OSD tablets and capsules; Injectables – dry Fully automated facility for Transderm
Slide 34: Financials
Financials 33
Slide 35: Profit & Loss Consolidated
Profit & Loss Consolidated Particulars (INR cr) 1QFY27 1QFY26 YoY 4QFY26 QoQ Revenues 469 328 43% 439 7% Gross Profit 334 248 34% 297 13% Gross Margin % 71% 76% 68% Employee Cost 100 82 22% 87 15% Other Expenses 95 68 40% 89 7% EBITDA 139 98 42% 121 15% EBITDA Margin % 30% 30% 28% Finance Cost 12 19
Slide 36: Earnings call Details
Earnings call Details Shilpa Medicare 1QFY27 Results Conference Call to be held on August 05, 2026, Wednesday at 16:00 IST Details of Earnings Conference Call +91 22 6280 1130 Universal Access +91 22 7115 8031 The number listed above is universally accessible from all networks and all countries Inte
Slide 37: THANK YOU!
Shilpa Medicare Limited Monish Shah +91 2249748754 THANK YOU! monish.shah@vbshilpa.com 36