The inspection, conducted by the Austrian Agency for Health and Food Safety (AGES) from January 22-26, 2024, was for unit-4 of their Jadcherla facility in Telangana.

This marks the first EU-GMP inspection for this facility since January 2020.

The said unit specializes in manufacturing, testing, and distributing sterile injections, non-sterile tablets, and capsules for markets in the US, Europe, and worldwide.

In a statement filed with the bourses, Shilpa Medicare expressed their commitment to "responding to the two minor observations within the stipulated time frame and working towards the satisfactory resolution of the inspectional observations and sustained cGMP compliance."

Shilpa Medicare is a global brand in manufacturing and supplying of API and formulation globally in different regulated markets.

The company reported consolidated net profit of Rs 1.61 crore in Q2 FY24 as against net loss of Rs 18.66 crore recorded in Q2 FY23. Net sales jumped 19% to Rs 312.98 crore in Q2 FY24 as compared with Rs 262.91 crore posted in Q2 FY23.