SHILPA MEDICARE LTD.

Shilpa Medicare Limited has received final approval from the Subject Expert Committee (SEC) under CDSCO for marketing authorization of OERIS™ (Ondansetron Extended-Release Injection, 100 mg/mL). This novel complex injectable is the world's first extended-release ondansetron injectable formulation, offering sustained antiemetic action for up to 120 hours (5 days) after a single dose. The approval is based on successful Phase III trials for chemotherapy-induced nausea and vomiting (CINV). The company plans to launch OERIS™ in India, where it has patent protection until 2039. This development is expected to enhance patient convenience and healthcare efficiency, further strengthening Shilpa Medicare's oncology portfolio.

Shilpa Medicare Limited announced that its wholly-owned subsidiary, FTF Pharma Private Limited, has been admitted to Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Ahmedabad Bench. The order, dated September 9, 2026, was passed following an application by Immacule Lifesciences Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, citing an alleged operational debt of ₹2,18,03,319. The NCLT found the debt valid and ordered a moratorium. Shilpa Medicare is consulting legal advisors to assess the situation and future actions, with further updates to be provided as developments occur. The impact on the parent company's financials and operations is currently not quantifiable.

Shilpa Medicare Ltd has dispatched a letter to shareholders whose email addresses are not registered, providing the web-link to the Annual Report for FY 2025-26 and the Notice for the 39th Annual General Meeting (AGM). The AGM will be held on September 11, 2026, via Video Conferencing. The notice and annual report are available on the company's website. The cut-off date for voting eligibility is September 4, 2026, with remote e-voting commencing on September 7 and concluding on September 10, 2026.

Shilpa Medicare Ltd has voluntarily recalled over 27,923 vials of its Pemetrexed Injection in the United States due to atypical discoloration. The recall, initiated on July 29, 2026, covers four batches of the chemotherapy drug. The US FDA has classified this as a Class II recall. The company stated that no adverse events have been reported and does not anticipate any material impact on its financial position or operations. This disclosure is made in response to a news report published on August 17, 2026.

Shilpa Medicare Limited announced its Board of Directors has recommended a final dividend of ₹0.60 per equity share for the financial year ended March 31, 2026. The record date for determining shareholder entitlement is September 4, 2026. The dividend, subject to shareholder approval at the AGM on September 11, 2026, will be paid within 30 days of the AGM. The company also informed shareholders about the mandatory deduction of tax at source (TDS) on dividends as per the Indian Income Tax Act, 2025. Shareholders are urged to update their PAN, residential status, and other details to ensure correct TDS application.

Shilpa Medicare Limited has released its Annual Report for the Financial Year 2025-26, coinciding with the notice for its 39th Annual General Meeting (AGM). The AGM is scheduled for Friday, September 11, 2026, at 11:00 AM IST, to be held via Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The report details the company's performance across its key segments including Active Pharmaceutical Ingredients (API), Finished Dosage Formulations, Biologics, and Contract Development and Manufacturing Organisation (CDMO). Significant highlights include the expansion of the API portfolio with 15+ new oncology APIs and the receipt of a Certificate of Suitability (CEP) from EDQM for Methotrexate. The Formulations business saw the commercial launch of a first-in-class novel therapy. The report is available on the company's website.

Shilpa Medicare Ltd has issued a notice for its 39th Annual General Meeting (AGM) to be held on Friday, September 11, 2026, at 11:00 AM IST via Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The agenda includes adopting the audited standalone and consolidated financial statements for FY 2025-26, declaring a final dividend of ₹0.60 per equity share, appointing a director, and ratifying the remuneration of cost auditors for FY 2026-27 at ₹75,000. Additionally, the AGM will consider payment of commission up to 1% of net profits to Mr. Madhav Vishnukant Bhutada, a Non-Executive Director of its material subsidiary, Shilpa Biologicals Private Limited, effective April 1, 2026. The Annual Report for FY 2025-26 is available on the company's website.

Shilpa Medicare Ltd has announced the record date for determining shareholders eligible for the final dividend for the financial year 2025-26. The record date is set as Friday, September 4, 2026. This dividend, if approved by shareholders at the 39th Annual General Meeting (AGM) scheduled for September 11, 2026, will be paid within the statutory timeframe post-approval. The company had previously recommended this final dividend, subject to shareholder consent.

Shilpa Medicare Ltd announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors approved these results during a meeting held on August 5, 2026. The company also announced the appointment of a new Whole-time Director, subject to member approval, and the payment of remuneration to a Non-Executive Director of a material subsidiary. Additionally, details regarding a strategic long-term equity partnership involving a wholly-owned subsidiary and an investment of up to EUR 7 million were shared. The 39th Annual General Meeting is scheduled for September 11, 2026, with September 4, 2026, set as the record date for determining dividend entitlement and e-voting eligibility.

On a consolidated basis (primary), Shilpa Medicare's Q1 FY27 revenue rose 44.9% YoY to ₹465.78 Cr (₹321.46 Cr a year ago) and 6.6% QoQ (₹436.99 Cr in Q4 FY26). Reported PAT more than doubled YoY to ₹100.88 Cr (+115.2%) but eased 6.4% QoQ from ₹107.79 Cr. The YoY PAT jump is not a clean operating story: tax expense flipped to a net credit of ₹2.83 Cr this quarter (from ₹269 lakhs YoY) after a one-time deferred-tax liability reversal of roughly ₹25.36 Cr, booked after the company remeasured deferred tax balances under the new income-tax regime (Section 200, Income-tax Act 2025). Stripping that reversal out, adjusted PAT is closer to ₹75.5 Cr, putting adjusted YoY PAT growth at roughly +61% — still strong and ahead of revenue growth, but well short of the 115% headline. Margins tell a similar story: reported consolidated NPM expanded to 21.7% from 14.3% a year ago (24.6% in Q4 FY26), but on an adjusted basis NPM is closer to 16.2% — a smaller but genuine YoY gain, and a step down from an adjusted ~18.9% in Q4 FY26 (which itself carried a ₹25.02 Cr exceptional gain). The underlying expense ratio did improve — total expenses fell to 80.4% of total income from 84.7% a year ago — consistent with operating leverage as revenue scaled, and consolidated PBT also got a modest lift from JV/associate income swinging to +₹5.96 Cr from -₹0.73 Cr a year ago. Standalone PAT of ₹64.92 Cr (+247% YoY) grew far faster than consolidated, but that divergence is largely a base effect: standalone Q1 FY26 carried a ₹5.18 Cr exceptional loss while this quarter carries a ₹3.51 Cr exceptional gain, in addition to the same tax reversal — the two bases are not comparable without adjustment. Management issued no separate press release with this filing (none available at the time of this analysis), and no formal quantitative guidance exists on record — the only prior signal is the Q4 FY26 concall's qualitative confidence in FY27 growth from complex APIs, specialty formulations, biologics, ADCs and CDMO capacity, without numbers attached. This quarter's revenue and adjusted-PAT growth are directionally consistent with that framing, and it coincided with the commissioning of an integrated ADC GMP manufacturing facility at Shilpa Biologicals (June 24) and a Nivolumab biosimilar partnership with Orion Corp (June 30) — both consistent with the CDMO/biologics build-out management flagged. Leadership churn at the Biologicals subsidiary continued in parallel: its CEO resigned for personal reasons on July 15 and a replacement was appointed August 3, alongside a ₹9 Cr legal-settlement disclosure at the same subsidiary on June 24. No Q1 FY27-specific street estimate could be located; the only consensus figure found was an annual FY27 EPS estimate of ~₹13.75, not comparable to a single quarter. Going into Q2 FY27, the key question is durability: whether the ~61% adjusted YoY PAT growth and the modest underlying margin gain persist once the tax reversal is a one-quarter event, and whether the new ADC/CDMO capacity and biosimilar partnership begin contributing measurably to revenue.