Despite the fact that a foreign portfolio investor sold 13.45 lakh equity shares in the company, the shares of oncology product manufacturers surged by up to 5 percent.
With a market capitalization of Rs 3,656.10 crore, the shares of Shilpa Medicare Ltd were trading at Rs 421.20 per share, increasing around 1.59 percent as compared to the previous closing price of Rs 414.60 apiece.
As of December 2023, TA FII Investors Ltd, a Foreign Institutional Investor (FII), owns 30.2 lakh equity shares in Shilpa Medicare Ltd, representing a 3.48 percent position. On Monday, TA FII Investors Ltd divested its 13.45 lakh equity shares which is equivalent to 1.54 percent of the company at an average price of Rs 407.05 per share..
Looking into the company’s finances, Shilpa Medicare Ltd.’s revenue increased by 9 percent from Rs 262.50 Crore in Q3FY23 to 286.48 Crore in Q3FY24. During the same period, net profits increased from a loss of Rs 6.62 crore to a profit of Rs 4.7 crore.
As of FY 22-23, The company’s API business grew somewhat, with total revenue growing from 747.7 crores in FY22 to 757.8 crores in FY23; however, performance differed among categories. Oncology reported a fall, CDMO services showed a large increase, CRAMS had a predicted big decrease, while non-oncology and API others showed a considerable gain.
When it comes to revenue from the geographic segment, the company’s revenue in India increased by 4%, from Rs 48,801.54 crore in FY2021–22 to Rs 51,057.19 crore in FY2022–23, while revenue from outside of India decreased by 17 percent from Rs 65,750 crore in FY2021-22 to Rs 53,953.69 crore in FY2022-23.
Shilpa Medicare Limited’s Unit VI was approved by the TGA in Australia in December 2023 for the production, labeling, packing, and testing of pharmaceutical Oral Mouth Dissolving Films.
Furthermore, this Unit supplies Oral Film goods to the United States and other regions. This certification allows the firm to obtain permission and commercialize its Oral Film products in Australia.
Shilpa Medicare manufactures high-quality active pharmaceutical ingredients (APIs), intermediates, formulations, new drug delivery systems, peptides, biotech goods, and specialty chemicals utilizing advanced technology. SML is one of the world’s major providers of oncology and non-oncology APIs and intermediates.
Written by:- Abhishek Singh
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