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Shaily Engineering Plastics Ltd
NSE: SHAILY BSE: 501423 INE151G01028 Industrials Industrial Products 🔎 Screen
Microcap 250
₹14,418 Cr
Market Cap
76.1
P/E
1.01
PEG
30.2%
ROCE
28.2%
ROE
0.34
D/E
27.8%
OPM
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Ratio Health
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About

The Company is engaged in the manufacture and sale of injection moulded precision plastic components, sub-assemblies for various requirements of Original Equipment Manufacturers (OEM). It also offers secondary operations in plastics like vacuum metalizing, hot stamping, and ultrasonic welding. Its manufacturing facilities are at Savli and Halol, Vadodara, Gujarat.

✓ Strengths 1
  • Company has delivered good profit growth of 48.9% CAGR over last 5 years
! Concerns

No concerns data yet.

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Strong beat: revenue +9% YoY, EBITDA margin expanded 420bps to 29.3%, PAT +40% — driven by healthcare segment doubling and margin expansion. quarter Investor Presentation One-Pager? Mar 2026
Revenue
₹236.8 Cr
+9% YoY
EBITDA Margin
29.3%
+420 bps YoY
PAT
₹40.2 Cr
+40% YoY
Healthcare Revenue
₹112.8 Cr
+101% YoY, now 48% of total revenue
What Went Right
  • Healthcare segment revenue doubled to ₹112.8 Cr (+101% YoY), driven by GLP-1 pen injector commercial launches and a ₹423 Cr order from a large domestic pharma company over four years.
  • Consolidated EBITDA margin improved 630bps for full year to 29.0% (Q4: +420bps to 29.3%), reflecting operating leverage and mix shift to healthcare.
  • New business wins in adjacent verticals: commenced supplies to a consumer electronics customer and signed an agreement with a Korean company for semiconductor trays.
  • Cash PAT for Q4 rose 35% to ₹53.4 Cr; full-year cash PAT up 62% to ₹219.1 Cr, indicating strong cash generation.
  • ROCE improved significantly to 35.8% from 24.4% a year ago, and ROE rose to 26.9% from 18.5%.
What to Watch
  • Consumer segment revenue declined 31% YoY in Q4 (₹102.1 Cr vs ₹148.1 Cr), attributed to weaker market demand for home furnishings in Europe and USA.
  • Volume of polymers processed fell 28% YoY in Q4 to 4,735 MT, pointing to underutilisation despite higher overall revenue from value-add products.
  • Consumer segment full-year revenue also dropped 9% to ₹511.3 Cr, indicating persistent weakness in that end-market.
  • The company announced an enabling resolution to raise up to ₹500 Cr, which could lead to equity dilution and uncertainty on timing and use of proceeds.
Investor Lens
Shaily delivered a strong quarter, led by healthcare where revenue doubled and margins expanded sharply. The healthcare thesis is intact: the GLP-1 pen platform is gaining traction with multiple customer launches and a large four-year order. However, the consumer segment remains weak, with a 31% revenue decline and lower polymer volumes, highlighting the drag from home furnishing demand. The diversification into semiconductor trays and consumer electronics is early but adds strategic optionality. The enabling resolution for up to ₹500 Cr fund raise introduces potential dilution risk, though it could also fund capex for healthcare expansion. Next quarter, focus on healthcare revenue trajectory, new customer additions in GLP-1, and any recovery signs in consumer. The margin expansion appears sustainable given the mix shift, but operating leverage needs to absorb new capacity.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Net profit surges 63% YoY to ₹49 Cr; margins expand
Revenue
Revenue grew 10.3% YoY to ₹224 Cr, though it declined 5.1% sequentially. The YoY growth reflects underlying demand, while the QoQ dip may indicate seasonal softness.
Profitability
Net profit jumped 63.3% YoY to ₹49 Cr (EPS ₹10.59 vs ₹6.43) and rose 36.1% QoQ, driven by higher operating profit and other income. The 20% tax rate remained stable.
Margins
Operating profit margin improved sharply to 28% from 24% YoY and 27% QoQ, indicating strong cost control or favourable product mix. Operating profit grew 31.2% YoY.
Balance Sheet
Borrowings of ₹175 Cr against reserves of ₹640 Cr give a low debt-to-equity ratio of 0.34. Total assets of ₹1,071 Cr support a healthy balance sheet.
Key Risks
PE of 88.1x indicates high valuation, leaving little room for error. Revenue saw a sequential decline of 5.1%, and sustainability of margin expansion at 28% needs monitoring.
Outlook
Strong profit growth and margin improvement signal operational strength. However, high valuation and QoQ revenue dip warrant caution; continued volume growth will be key.
Generated by AI · Mar 2026 results · Not investment advice
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