Shelter Pharma reported a 44% year-on-year increase in revenue from operations to INR 73.13 Cr for the financial year ended March 31, 2026. Profit after tax rose 25% to INR 9.03 Cr, while EBITDA increased 26% to INR 12.72 Cr. The company announced its vision to scale operations substantially and target annual revenues of around INR 200 Cr by FY30.

Financial Performance

For the full year FY26, the company achieved an EBITDA margin of 17.39% and a PAT margin of 12.3%. Return on capital employed (ROCE) stood at 26.04%, while return on equity (ROE) was 19.39%. Revenue from exports reached INR 6 Cr, marking a 164% increase in FY26. The revenue mix comprised 55% from the veterinary segment and 45% from human healthcare.

Strategic Expansion and Outlook

Management attributed the growth to a deliberate pan-India expansion and a focus on exports. The company is currently present in countries including UAE, Kuwait, Iraq, Qatar, Nepal, Bangladesh, Mauritius, Yemen, and Sudan. To support future growth, Shelter Pharma has acquired land near Ahmedabad for a second manufacturing facility. The upcoming unit is expected to significantly enhance production capacity.

The company is preparing to launch a new range of high-value nutraceutical and herbal healthcare products. Management stated that the INR 200 Cr revenue target by FY30 is based on actual numbers rather than conservative estimates, citing strong export performance and expansion into new Indian states. For the new plant, a capital expenditure of INR 12 to 15 Cr is anticipated, primarily funded through internal accruals.

Operational Details

Shelter Pharma operates with a low-debt structure and high operating efficiency. The company holds certifications including GMP, HACCP, ISO 9001, and ISO 22000. Its distribution network includes over 12,000 doctors and 5,000-plus retail pharmacies. The sales team comprises approximately 80 people across India.

Regarding margins, management indicated that export margins are roughly 20% to 25% higher than domestic margins. The company expects EBITDA margins to improve beyond 20% in the coming years as operational efficiencies from expansion stabilize. The working capital cycle, currently higher due to expansion and credit periods offered to new distributors, is being targeted for reduction to 30 days.

Shelter Pharma reported a 44.35% year-on-year increase in revenue from operations to ₹73.13 crore for FY26, driven by a diversified product portfolio and expanded market presence. The company posted a net profit of ₹9.03 crore for the year, reflecting a 24.72% growth compared to the previous year. Management attributed the performance to strong execution in the human and veterinary healthcare segments and a focus on Ayurvedic and herbal solutions.

The company remains almost debt-free, with borrowings at ₹0.8 crore as of March 26, 2026, and reserves growing by 92.62% to ₹60.02 crore. Shelter Pharma has outlined an ambitious growth trajectory under its Vision 2030, targeting annual revenues of ₹200 crore through capacity expansion, new product launches, and deeper global market penetration. The firm recently acquired land near Himmatnagar, Gujarat, to establish a second manufacturing facility.

Financial Performance

Shelter Pharma's financial highlights for FY26 show consistent top-line growth and improving profitability metrics. The EBITDA for the year stood at ₹12.72 crore, while the Profit Before Tax rose 26.24% to ₹12.22 crore.

The company reported a 3-year compounded revenue growth of 26% and a Return on Capital Employed (ROCE) averaging 25.74% over the same period. The EBITDA margin for FY26 was 17.39%.

Strategic Expansion

As part of its long-term strategy, Shelter Pharma is investing in innovation and product development, focusing on nutraceuticals and advanced formulations. The upcoming manufacturing unit in Gujarat is expected to significantly enhance production capacity. The company currently exports to over 10 countries, including the UK, Egypt, Kuwait, and Bangladesh, and maintains a pan-India distribution network.