In an exchange filing, the company stated that the USFDA has classified the inspection outcome as voluntary action indicated (VAI). The inspection was conducted at the Unit-1 facility from 3 March to 7 March 2025.
The official announcement was made on 14 May 2025, after market hours.
Shilpa Medicare is a manufacturer of API, formulation, and development services. Shilpa Medicare (SML) started its operations as an API manufacturer way back in 1987 at Raichur, Karnataka, India.
The company had reported a consolidated net profit of Rs 31.78 crore in Q3 FY25, which is significantly higher as compared with the PAT of Rs 4.58 crore posted in Q3 FY24. Revenue from operations for the third quarter was at Rs 319.32 crore, up 11.35% year on year.