Profit before tax (PBT) rose 97.78% YoY to Rs 98.06 crore during the quarter.

Operating performance remained strong, with EBITDA increasing 42% YoY to Rs 139 crore from Rs 98 crore in Q1 FY26. EBITDA margin remained steady at 30%, indicating sustained operating efficiency despite the sharp rise in revenue.

Revenue from the API business grew approximately 15% YoY to Rs 260 crore, while the formulations segment more than doubled, rising 102.04% YoY to Rs 198 crore, emerging as the key growth driver during the quarter. The biologics business generated Rs 52 crore in revenue in Q1 FY27.

Vishnukant Bhutada, managing director, said, “We begin FY27 on a strong note, with 1QFY27 reflecting healthy revenue growth of 43% (YoY) and EBITDA growth of 42% (YoY), with a robust margin of 30%, led by consistent improvement visible across our three key verticals. This performance reaffirms the operating discipline and strategic direction we have built over the past few years. Our approach continues to be anchored in building a differentiated, integrated organization — one that combines robust R&D, manufacturing capabilities, and a growing portfolio of novel and complex products. This integration continues to be a key differentiator, allowing us to capture value across the chain while deepening and widening our relations with global customers.

The regulatory and manufacturing investments are now translating into tangible outcomes, and we expect this momentum to build further through the year as more of these initiatives mature and scale. Most recently, Gate2Brain became our fourth partnership for a novel asset, with Shilpa taking a stake in the company and stepping in as its integrated CMC, manufacturing and regulatory partner for G2B-002 — a BBB-penetrant, Orphan Drug-designated oncology asset for brain cancer.

Our capital efficiency continues to improve, with ROCE trending upwards, reflecting improvement in our operational momentum. With a strong pipeline, wider global network, and a sharpened strategic focus, we remain confident of delivering a stronger FY27.”

Shilpa Medicare is a diversified pharmaceutical and biotechnology company engaged in the development and manufacture of complex generics, biologics and active pharmaceutical ingredients (APIs). Through its subsidiary Shilpa Biologicals, the company operates a fully integrated biologics platform spanning development, scale-up and commercial manufacturing at its EU-GMP facility in Dharwad, India.