Shilpa Medicare fell 3.62% to Rs 498.35 after the company's consolidated net profit slumped 77.35% to Rs 7.83 crore on 5.44% decrease in revenue from operations to Rs 208.03 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax tanked 79.79% to Rs 8.40 crore in Q4 FY21 as against Rs 41.57 crore in Q4 FY20. The Q4 earnings was declared at the fag end of market hours yesterday, 31 May 2021.
EBITDA skid 39% to Rs 33.12 crore in Q4 FY21 as against Rs 54.50 crore over the same period last year. EBITDA margin stood at 15% in Q4 March 2021 from 24% in Q4 March 2020.
During the financial year, Shilpa Medicare's consolidated net profit declined 5.36% to Rs 147.78 crore on 0.75% slip in revenue from operations to Rs 901.13 crore in FY 2021 over FY 2020.
Commenting on Q4 & FY21 performance, Vishnukant Bhutada, the managing director (MD) of Shilpa Medicare, has said that: "we have been able to maintain our revenues during the year despite facing a volatile macro environment and other regulatory challenges. We continue to focus on improving the core API and enhance our formulations business as we look for newer opportunities in untapped markets. Over the past few years, we have judiciously invested in top quality human capital. The teams we have deployed in our international markets have helped us grow our presence and we hope to capitalize there. Furthermore, we are building a strong product pipeline which will translate to healthy growth in the years ahead."
"Our focus on the diversification in newer areas like Biologics, portfolio expansion in Transdermal Dosage Forms and Oral Thin Films formulations, CDMO business will gain traction in FY22 and we believe that investing in these areas will benefit the Company in the years to come. Very recently we tied up for production of Sputnik V, at our Biologics facility, Dharwad, further augmenting the availability of life-savings vaccines in the country."
Shilpa Medicare recommended a dividend of Rs 1.10 per every equity share for the FY 2020-21.
Meanwhile, the board has approved the appointment of Alpesh Dalal as chief financial officer (CFO) of the company.
Shilpa Medicare is a global brand in manufacturing and supplying of affordable API and formulation globally in different regulated markets.
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