Revenue from operations was at Rs 319.32 crore, up 11.35% year on year, driven by healthy performance in fast-growing verticals, viz. (finished dosage forms) FDF and biologics.
EBITDA jumped 20% to Rs 82 crore in Q3 FY25 from Rs 68 crore registered in Q3 FY24. EBITDA margin improved to 26% in Q3 FY25 from 24% in Q3 FY24.
Total expenses were up by 2.09% year on year to Rs 279.18 crore in the quarter ended 31 December 2024. The cost of materials consumed stood at Rs 89.98 crore (down 14.95% YoY), while employee benefits expense was at Rs 73.49 crore (up 6.44% YoY).
On a nine-month basis, the company’s consolidated net profit zoomed 765.40% to Rs 63.78 crore in 9M FY25 as compared to Rs 7.37 crore recorded in 9M FY24. Revenue from operations jumped 11.13% YoY to Rs 955.62 crore in 9M FY25.
Vishnukant Bhutada, managing director of Shilpa Medicare, said, “Our 3QFY25 performance reflects robust growth in profitability driven by an improved business mix. The quarter witnessed healthy YoY growth in our key verticals of FDF & Biologics, which was partially offset by muted API performance. As we focus on achieving significant milestones in all our verticals, our efforts remain towards monetizing existing key assets.
During the quarter we have launched Nilotinib in the EU region, where we are a sole generic; on the biologics front, we have initiated Ph3 trials for Aflibercept; and we have initiated commercial launch quantities for OLC, a US CDMO opportunity. I am also highly optimistic on receiving approval for our NCE—NorUDCA—in this financial year.
With positive traction on our new product launches in the coming quarters, I am confident of delivering strong revenue growth in each business vertical. Going forward, our focus remains on scaling up API business, launching approved NDAs in regulated markets, and getting timely approvals on filed products. We continue to invest in future pipelines as well as focus on resolutions on the regulatory front.
Shilpa Medicare is a manufacturer of API, formulation, and development services. Shilpa Medicare (SML) started its operations as an API manufacturer way back in 1987 at Raichur, Karnataka, India.
Shares of Shilpa Medicare tanked 5.96% to currently trade at Rs 686.95 on the BSE.