Shilpa Medicare -Racing away on the Oncology API highway!

Shilpa Medicare FY15 Annual Report is now available at http://www.bseindia.com/bseplus/AnnualReport/530549/5305490315.pdf

Some interesting points in the AR based on preliminary review:

1. API facility at Raichur and Formulations facility at Jadcherla have received approval from Mexico, Brazil and EU authorities. USFDA approval for both is still pending (both plants have been inspected by USFDA in FY15)
2. Anticipating an increase in demand in the current year – so oncology formulation and API manufacturing facilities for few products have been expanded significantly
3. Significant capacity expansion showing in CWIP which has doubled from 110 crores in FY14 to 220 crores in FY15
4. R&D spend is 28 crores for FY15, 4%+ of sales and 30%+ of net profit. R&D is yielding encouraging results – projects of 5 products transfer executed successfully; other projects of 8 products have been completed and ready for transfer to plant;
5. 10 new molecules have been taken up for development considering future demand
6. 4 DMFs filed in US have been applied for in EU-CP, EU-DCP, EDQM-CEP, Health Canada, New Zealand, and Australia
7. 11 International Patent Applications (PCT) were received, and 15 Indian patents in FY15; So total number of patents now more than 115+ (100 in FY14 AR)