Shilpa Medicare shares soar 6% as arm receives certificate of suitability for API, Octreotide; check details

Octreotide is a synthetic peptide manufactured by Shilpa Pharma Lifesciences through solid-phase synthesis. Acromegaly, severe diarrhea/flushing episodes associated with metastatic carcinoid tumors, profuse watery diarrhea associated with vasoactive intestinal peptide (VIP) secreting tumors.

Octreotide is the second peptide molecule in Shilpa’s peptide portfolio. The CEP showcases our expertise and commitment to quality-oriented development and commercial production, which meets the expectations of global quality standards.

For the quarter ended September 30, 2024 (Q2 FY25), the drugmaker's consolidated net profit soared 1042.68% to ₹17.94 crore on a 9.85% rise in revenue from operations to ₹343.80 crore in Q2 FY25 over Q2 FY24.

EBITDA jumped 46.54% to ₹91 crore in Q2 FY25 from ₹62.1 crore registered in Q2 FY24. EBITDA margin improved to 26% in Q2 FY25 from 20% in Q2 FY24.

Total expenses were up by 2.61% year-on-year to ₹311.63 crore in the quarter under review. 

The cost of materials consumed stood at ₹98.43 crore (down 17.98% YoY), while employee benefits expense was at ₹76.16 crore (down 4.2% YoY).

Shilpa Medicare is a domestic pharmaceutical company that develops, manufactures, and sells generic drugs, APIs, and biotechnology products. The company started its operations as an API manufacturer way back in 1987 in Raichur, Karnataka, India.

The commercial production in the SML was started in November 1989.