Shilpa Medicare Limited
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BSE Code:
530549
NSE Code:
SHILPAMED
Business Profile
Business Profile
Shilpa Medicare (SHILPAMEDCA) is engaged in the manufacture of pharmaceuticals. It was incorporated as a private limited company in November 1987 and was converted into a public limited company in November 1993.
The company produces high-quality active pharmaceutical ingredients (APIs) with a focus on oncology, nutritional supplements, herbal products, specialty chemical products, drug intermediates, and develops new products. It is the largest manufacturer of APIs in India and has already received a certificate of suitability from EDQM, France. The manufacturing unit and R&D facilities are located in the Raichur district of Karnataka with annual installed capacities of 100 MT bulk drugs and 135 MT intermediates. It has bought 20.45 acres of land near its existing plant to set up a dedicated global standard facility for oncology products. Commercial production is expected to commence by January 2008.
In FY07, the company was recognized as a Star Export House by the Ministry of Commerce & Industry. It received several awards like the Karnataka State Award for Excellence in Exports and the safety award from GRISD-Bellary Chapter & Karnataka State Safety Organization. It signed a memorandum of understanding with LOBA Finchemie AG, Austria, to acquire 100% shares of LOBA, which provides specialty APIs, organic intermediates, biochemical diagnostics, and customs synthesis. Approvals from South Korea FDA (KFDA) officials for Gemcitabine HCL and Ambroxol HCL have opened up the South Korean markets for its products. Having filed EDMF for Gemcitabine HCL in 27 European countries, many reputed companies in Europe, India and US have started working with the company for Gemcitabine HCL. Products are exported to USA, Canada, Australia, Japan, Europe, South America, Africa, and Singapore, Taiwan, China and South Korea among other countries in Asia.
The registered office is located at 10/80 1st Floor, Rajendra Gunj, Raichur-584102, Karnataka.
Financials
Shilpa Medicare registered a 57.38% growth in net profit to Rs 30.72 million for the quarter ended December 2007 from a profit of Rs 19.52 million for the quarter ended December 2006.
Net sales rose 47.89% to Rs 245.67 million for the quarter ended December 2007 from Rs 166.12 million for the quarter ended December 2006.
Total income rose 43.67% to Rs 250.07 million for the quarter ended December 2007 from Rs 174.06 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 1.77 for the quarter ended December 2007.
Recent Developments
07-MAR-08
Shilpa Medicare received the certificate of Suitability of Monographs of the European Directorate for the Quality of Medicines (EDQM) for the active pharmaceutical ingredient (API) Oxaliplatin EP. Oxaliplatin EP is used in the treatment of metastatic rectal colon cancer after prior treatment with fluoropyrimidines in mono-chemotherapy or associated treatment
16-JAN-08
The company secured approval from South Korea FDA (KFDA) officials for Gemcitabine HCL and Ambroxol HCL on satisfactory compliance with GMP Standards. The company has already filed EDMF for Gemcitabine HCL in 27 European countries and also with EDQM for certificate of suitability. HCL is going off the patent soon and worldwide market size in 2006 was USD 1,193 million and growing very fast every year. Many reputed companies in Europe, India and US have started working with the company for Gemcitabine HCL, and the company wants to become a significant player by capturing a large chunk of market share. The company is the largest manufacturer of API in India and already it has received certificate of suitability from EDQM, France.
21-NOV-07
Shilpa Medicare received the certificate of suitability of monographs of the European Directorate for the Quality of Medicines (EDQM) for the active pharmaceutical ingredient (API) Carboplatin. With this approval the company can penetrate into the European markets. Carboplatin is in a class of drugs known as platinum-containing compounds; it slows or stops the growth of cancer cells in human body. The company also filed DMFs for Gemcitabine HCI and Oxaliplatin and is preparing to file several DMFs for the oncology products with the endorsement from the European Directorate for the Quality of Medicines (EDQM).
Future Plans
The Bombay Stock Exchange (BSE) has given a No Objection Certificate for the
scheme of amalgamation with Shilpa Organics.