---
title: "Shasun Pharmaceuticals Ltd(Merged) (SHASUNPHAR) — Share Price, Financials & Analysis"
symbol: "SHASUNPHAR"
company: "Shasun Pharmaceuticals Ltd(Merged)"
canonical: "https://tapetide.com/stocks/SHASUNPHAR"
nse_symbol: "SHASUNPHAR"
sector: "Healthcare"
industry: "Pharmaceuticals & Biotechnology"
generated_at: "2026-09-13T18:46:27.722Z"
---

# Shasun Pharmaceuticals Ltd(Merged) (SHASUNPHAR)

Canonical page: https://tapetide.com/stocks/SHASUNPHAR

## Company

- **NSE Symbol:** SHASUNPHAR
- **Sector:** Healthcare
- **Industry:** Pharmaceuticals & Biotechnology
- **Macro Sector:** Healthcare
- **Stock Type:** DELISTED
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** shasun.com

## About

Shasun Pharmaceuticals Limited (SPL) is an India-based company, which is a supplier of development and manufacturing services for intermediates, active pharmaceutical ingredients (API) and finished dosage. The Company is also into product development and provides contract research and manufacturing services.

## Latest Price

## Key Insights

### Weaknesses

- Stock is trading at 6.38 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 10.9% over past five years.
- Company has a low return on equity of 11.6% over last 3 years.
- Dividend payout has been low at 11.6% of profits over last 3 years

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 107% | -35% | 30% |
| revenue growth | 3% | 7% | 11% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2012 | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 271 | 276 | 227 | 297 | 325 | 363 | 314 | 320 | 325 | 358 | 334 | 339 |
| Expenses | 251 | 253 | 232 | 266 | 290 | 323 | 297 | 301 | 292 | 317 | 303 | 302 |
| Operating Profit | 20 | 23 | -5 | 30 | 35 | 40 | 17 | 19 | 33 | 41 | 31 | 37 |
| OPM % | 7 | 8 | -2.2 | 10 | 11 | 11 | 5 | 6 | 10 | 11 | 9 | 11 |
| Other Income | 8 | 7 | 9 | 7 | 3 | 3 | 2 | 4 | 2 | 12 | 1 | 4 |
| Interest | 10 | 5 | 8 | 9 | 11 | 14 | 12 | 12 | 16 | 13 | 12 | 12 |
| Depreciation | 12 | 16 | 13 | 15 | 15 | 16 | 12 | 10 | 12 | 13 | 14 | 15 |
| Profit before tax | 6 | 9 | -17 | 13 | 13 | 13 | -5 | 1 | 7 | 27 | 5 | 15 |
| Tax % | -28 | -50 | -61 | 0 | -1 | 23 | 0 | 2 | 0 | 23 | 24 | 11 |
| Net Profit | 8 | 13 | -7 | 13 | 13 | 10 | -5 | 0 | 6 | 22 | 4 | 13 |
| EPS in Rs | 1.49 | 2.34 | -1.16 | 2.36 | 2.3 | 1.84 | -0.8 | 0.04 | 1.02 | 3.69 | 0.57 | 1.95 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 763 | 809 | 749 | 784 | 834 | 1066 | 1084 | 1207 | 1314 | 1356 |
| Expenses | 689 | 797 | 863 | 771 | 763 | 943 | 967 | 1098 | 1195 | 1214 |
| Operating Profit | 73 | 12 | -113 | 13 | 71 | 123 | 117 | 109 | 119 | 141 |
| OPM % | 10 | 1.5 | -15 | 1.7 | 9 | 12 | 11 | 9 | 9 | 10 |
| Other Income | 19 | 59 | 32 | 57 | 22 | 41 | 18 | 23 | 21 | 19 |
| Interest | 10 | 15 | 22 | 30 | 32 | 44 | 32 | 50 | 63 | 52 |
| Depreciation | 26 | 31 | 38 | 38 | 38 | 41 | 53 | 59 | 47 | 54 |
| Profit before tax | 57 | 24 | -141 | 2 | 24 | 80 | 50 | 23 | 30 | 54 |
| Tax % | 8 | -1 | -3 | -88 | -13 | -26 | -5 | -32 | 21 | — |
| Net Profit | 53 | 25 | -137 | 4 | 27 | 101 | 53 | 30 | 24 | 45 |
| EPS in Rs | 10.94 | 5.1 | -28.38 | 0.78 | 5.49 | 18.25 | 9.37 | 5.34 | 3.95 | 7.23 |
| Dividend Payout % | 16 | 20 | 0 | 128 | 5 | 13 | 16 | 19 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 12 |
| Reserves | 168 | 212 | 230 | 97 | 108 | 74 | 211 | 261 | 291 | 367 |
| Borrowings | 79 | 192 | 257 | 339 | 327 | 329 | 353 | 506 | 692 | 739 |
| Other Liabilities | 94 | 219 | 167 | 219 | 219 | 235 | 285 | 266 | 332 | 364 |
| Total Liabilities | 351 | 632 | 663 | 664 | 663 | 648 | 860 | 1044 | 1327 | 1482 |
| Fixed Assets | 175 | 214 | 255 | 269 | 244 | 248 | 278 | 365 | 383 | 529 |
| CWIP | 2 | 21 | 55 | 35 | 30 | 12 | 52 | 81 | 114 | 76 |
| Investments | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 7 | 16 |
| Other Assets | 169 | 397 | 352 | 360 | 389 | 387 | 529 | 598 | 823 | 861 |
| Total Assets | 351 | 632 | 663 | 664 | 663 | 648 | 860 | 1044 | 1327 | 1482 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 31 | -6 | 58 | -34 | 37 | 59 | 51 | 35 | 40 | 84 |
| Cash from Investing Activity | -32 | -78 | -106 | -21 | 10 | -32 | -77 | -161 | -164 | -145 |
| Cash from Financing Activity | -9 | 91 | 43 | 54 | -40 | -28 | 32 | 117 | 131 | 51 |
| Net Cash Flow | -9 | 8 | -5 | 0 | 7 | -1 | 5 | -9 | 7 | -9 |
| Free Cash Flow | 5 | -90 | -48 | -60 | 46 | 24 | -30 | -126 | -152 | -63 |
| CFO/OP | 71 | -3 | 513 | 29 | 294 | 84 | 50 | 30 | 42 | 79 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 80 | 90 | 81 | 91 | 90 | 69 | 79 | 89 | 106 | 97 |
| Inventory Days | 115 | 182 | 103 | 97 | 89 | 108 | 90 | 113 | 122 | 128 |
| Days Payable | 83 | 200 | 105 | 158 | 152 | 137 | 141 | 140 | 159 | 152 |
| Cash Conversion Cycle | 112 | 72 | 79 | 30 | 27 | 40 | 28 | 62 | 69 | 72 |
| Working Capital Days | 94 | 90 | 89 | 72 | 77 | 64 | 63 | 89 | 103 | 118 |
| ROCE % | — | 20 | 9 | -27 | 3 | 13 | 19 | 12 | 8 | 8 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 3 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 151.44 | Sell |
| EMA (10) | 148.2 | Sell |
| SMA (20) | 155.93 | Sell |
| EMA (20) | 153.69 | Sell |
| SMA (50) | 161.62 | Sell |
| EMA (50) | 166.39 | Sell |
| SMA (100) | 190.69 | Sell |
| EMA (100) | 196.56 | Sell |
| SMA (200) | 265.46 | Sell |
| EMA (200) | 271.02 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 31.62 | Neutral |
| MACD (12,26,9) | -6.42 | Sell |
| Stochastic (14,3,3) | 1.36 | Buy |
| ADX (14) | 22.26 | Neutral |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 5.25 | High Volatility |
| ROC (12) | -11.54 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 18.44 | Buy |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 16 Nov 2015 - Shasun Pharmaceuticals Ltd has informed BSE regarding a Press Release dated November 16, 2015 titled "Shasun Pharmaceuticals receives USFDA approval for Carisoprodol Tablets". | [Shasun Pharmaceuticals receives USFDA approval for Carisoprodol Tablets 16 Nov 2015 - Shasun Pharmaceuticals Ltd has informed BSE regarding a Press Release dated November 16, 2015 titled "Shasun Pharmaceuticals receives USFDA approval for Carisoprodol Tablets".](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1A9EA5E6_858E_4347_AF80_7DA300DA4796_111641.pdf) |
| 16 Nov 2015 - Pharmaceuticals Ltd has informed BSE regarding a Press Release dated November 16, 2015 titled "Shasun Pharmaceuticals receives USFDA approval for Carisoprodol Tablets". | [Shasun Pharmaceuticals receives USFDA approval for Carisoprodol Tablets 16 Nov 2015 - Pharmaceuticals Ltd has informed BSE regarding a Press Release dated November 16, 2015 titled "Shasun Pharmaceuticals receives USFDA approval for Carisoprodol Tablets".](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2015/11/1A9EA5E6_858E_4347_AF80_7DA300DA4796_111641.pdf) |
| — | [Record Date for Scheme of Amalgamation 6 Nov 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=DE9CA064_C68B_444B_A089_43161F593ED7_182502.pdf) |
| — | [Record Date for Scheme of Amalgamation 6 Nov 2015](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2015/11/DE9CA064_C68B_444B_A089_43161F593ED7_182502.pdf) |
| — | [Financial Results with Results Press Release & Limited Review Report for Sept 30, 2015 27 Oct 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=DB8D2204_B051_49CE_8CD5_391D378E18AA_141222.pdf) |
| — | [Financial Results with Results Press Release & Limited Review Report for Sept 30, 2015 27 Oct 2015](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2015/10/DB8D2204_B051_49CE_8CD5_391D378E18AA_141222.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_SHASUNPHAR_2011_2012_30072012150910.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_SHASUNPHAR_2009_2010_13042011125621.zip) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/524552/5245520315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/524552/5245520314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/524552/5245520313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/524552/5245520312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/524552/5245520311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/524552/5245520310.pdf) |
| from bse | [Annual Report 2009 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2009/SHASUN_PHARMACEUTICALS_LTD-524552-MARCH-2009.PDF) |
| from bse | [Annual Report 2008 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2008/SHASUN_PHARMACEUTICALS_LTD-524552-MARCH-2008.PDF) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:46:27.722Z.