SHILPAMED Q1 FY27 Guidance vs Delivery (SHILPAMED Management Mirror)

Consolidated Revenue Soars to INR 469 Crore in Q1 FY27, Highest Ever Quarterly Milestone; Margin Maintained at 30% Amid Raw Material Headwinds

Management reported its highest-ever quarterly revenues in consecutive quarters, progressing from INR 411 crores in Dec'25 Qtr (Q3 FY26) to INR 439 crores in Mar'26 Qtr (Q4 FY26). The full-year FY26 revenue reached INR 1,549 crores. In the Jun'26 Qtr (Q1 FY27), the company reported its highest ever quarterly revenue of INR 469 crore (reported as INR 46,578 lakh in Q1 FY27 results), growing 43% YoY. EBITDA margins improved from 28% in Dec'25 Qtr to 29% for full-year FY26, and stood at 30% in Q1 FY27 (reported as 29.3% in Q1 FY27 results). Recent global political situations have caused raw material prices to rise, leading to a slight dip in gross margins (71% in Q1 FY27, compared to 68% in Q4 FY26 and 70% in FY26), which the company has only partially passed on to customers. However, management is maintaining its 30% EBITDA margin through positive operating leverage. Tax rates for the coming quarters of FY27 are expected to normalize at approximately 20% to 25%, following a negative tax rate in Q1 FY27 due to deferred tax liability reversal. Management expects a robust growth trajectory on profitability and higher ROCE.