SHAILY - Shaily Engineer.
📢 Recent Corporate Announcements
Shaily Engineering Plastics has signed a significant contract worth approximately Rs. 423 crores with a leading domestic pharmaceutical company. The agreement involves the manufacturing and commercial supply of pen injectors over a four-year period. This contract provides strong revenue visibility and highlights the company's growing capabilities in the high-margin healthcare and medical devices segment. The deal underscores Shaily's strategic shift towards specialized, high-precision plastic components for the pharma industry.
- Total contract value estimated at approximately Rs. 423 crores.
- Execution and supply period scheduled over the next 4 years.
- Contract awarded by a large domestic pharmaceutical company for pen injector manufacturing.
- Nature of the agreement is a Manufacturing & Commercial Supply Agreement.
- Strengthens the company's position in the specialized healthcare plastics vertical.
Shaily Engineering reported a strong Q3 FY26 with revenue growing 27% YoY to ₹251 crores and PAT increasing 48% to ₹37 crores. The Healthcare segment was the primary driver, growing 139% YoY and now contributing 42% of total revenue. The company announced a major ₹300-350 crore expansion in Abu Dhabi to double its pen injector capacity to 150 million units by FY28. Management also highlighted strong traction in GLP-1 drug delivery devices, securing 65-75% share among first filers in the Canadian market.
- Q3 FY26 PAT grew 48% YoY to ₹37 crores with EBITDA margins expanding 310 bps to 26.5%.
- Healthcare revenue surged 139% YoY to ₹104 crores, driven by high demand for pen and auto-injectors.
- Announced ₹300-350 crore capex for a new 75 million unit capacity facility in Abu Dhabi, operational by Q4 FY28.
- Secured 2 new GLP-1 customers and 2 global pharma contracts; holds ~65-75% share of first filers in Canada.
- Appointed Joe Kam (ex-SHL/Flextronics) as COO of Healthcare to lead global operations from March 2026.
Shaily Engineering Plastics Limited has scheduled a group meeting with analysts and institutional investors on February 24, 2026. The interaction is set to take place from 11:30 AM to 12:30 PM to discuss the company's performance and outlook. Management has explicitly stated that the discussions will be based on publicly available information and no unpublished price sensitive information (UPSI) will be disclosed. This meeting is part of the company's regular investor relations engagement under SEBI regulations.
- Group meeting with analysts and institutional investors scheduled for February 24, 2026.
- The meeting is scheduled for a duration of one hour, from 11:30 AM to 12:30 PM.
- Discussions will be limited to publicly available information to ensure regulatory compliance.
- The disclosure was made on February 19, 2026, pursuant to Regulation 30(6) of SEBI LODR.
Shaily Engineering Plastics Limited has scheduled an interaction with institutional investors and analysts for March 9, 2026. The event is organized by Investec and will be held at Trident, BKC, featuring both 1x1 and group meeting formats. The company has explicitly stated that discussions will be based on publicly available information and no unpublished price sensitive information (UPSI) will be shared. This disclosure is a routine compliance filing under SEBI (LODR) Regulations 2015.
- Investor conference scheduled for March 9, 2026, from 10:00 AM to 6:00 PM.
- Organized by Investec at Trident, BKC, involving 1x1 and group interactions.
- Company confirms discussions will be limited to publicly available information only.
- Filing made pursuant to Regulation 30(6) of SEBI (LODR) Regulations, 2015.
- Management participation indicates ongoing engagement with the institutional investor community.
Shaily Engineering Plastics Limited has scheduled an institutional investor meeting for March 9, 2026, in Mumbai. The event is organized by Investec and will feature both 1x1 and group meeting formats between 10:00 AM and 6:00 PM. The company has clarified that discussions will be based strictly on publicly available information to ensure no unpublished price sensitive information (UPSI) is shared. This is a routine regulatory filing under SEBI's Listing Obligations and Disclosure Requirements.
- Meeting scheduled for March 9, 2026, at Trident, BKC, Mumbai.
- Organized by Investec, featuring 1x1 and group interaction formats.
- Interaction window spans 8 hours from 10:00 AM to 6:00 PM.
- Company confirms no unpublished price sensitive information (UPSI) will be discussed.
Shaily Engineering Plastics Limited has officially released the audio recording of its earnings conference call held on February 13, 2026. This disclosure follows the company's earlier communications regarding its financial results and investor presentation. The recording provides investors with direct access to management's discussion on recent performance and strategic outlook. A written transcript of the call is expected to be filed with the exchanges separately in the coming days.
- Audio recording of the earnings call held on February 13, 2026, is now publicly available.
- The recording is accessible via the company's official investor relations website.
- Compliance filing made under Regulation 30 of SEBI Listing Regulations, 2015.
- A formal written transcript of the management commentary will be submitted separately.
Shaily Engineering Plastics reported a robust Q3FY26 with consolidated revenue rising 27% YoY to ₹250.5 crore. The growth was primarily driven by the Healthcare segment, which grew 139% YoY, offsetting a 13% decline in the Consumer segment. EBITDA margins expanded significantly to 26.5%, resulting in a 48% YoY increase in PAT to ₹37.4 crore. The company also announced a strategic expansion into Abu Dhabi with a ₹300-340 crore (AED 130-150m) facility for medical devices, targeting the global GLP-1 market.
- Consolidated Q3 Revenue grew 27% YoY to ₹250.5 Cr, while 9M FY26 PAT surged 101% to ₹129.8 Cr.
- Healthcare segment revenue jumped 139% YoY to ₹104.3 Cr in Q3, driven by new GLP-1 pen injector contracts.
- EBITDA margins reached 26.5% in Q3, a 310 bps improvement, reflecting a shift toward higher-margin products.
- New Abu Dhabi facility planned with AED 130-150 million investment to produce 75 million pen injectors annually.
- Return on Capital Employed (RoCE) improved sharply to 38.4% from 24.4% in March 2025.
Shaily Engineering Plastics Limited has announced its earnings conference call to discuss financial results for the quarter and nine months ended December 31, 2025. The call is scheduled for Friday, February 13, 2026, at 4:00 PM IST. Senior management, including Managing Director Amit Sanghvi and Chief Strategy Officer Sanjay Shah, will be present to address investor queries. This call is a routine but essential event for understanding the company's recent operational performance and future outlook.
- Earnings call scheduled for February 13, 2026, at 4:00 PM IST to discuss Q3 and 9M FY26 results.
- Management representation includes MD Amit Sanghvi and CSO Sanjay Shah.
- Universal dial-in numbers for the call are +91 22 6280 1309 and +91 22 7115 8210.
- International access available for investors in the US, UK, Singapore, and Hong Kong.
Shaily Engineering Plastics Limited has addressed a clarification request from the National Stock Exchange regarding its financial results for the quarter ended September 30, 2025. The company admitted to a clerical error where half-yearly figures were incorrectly filed in the XBRL format instead of quarterly figures on November 8, 2025. Following the NSE's query on January 12, 2026, the company corrected the filing and submitted the revised data on January 13, 2026. This correction is purely administrative and does not change the previously reported financial numbers or business fundamentals.
- NSE flagged discrepancies in XBRL filings for the quarter ended September 30, 2025
- Company inadvertently filed half-yearly figures instead of quarterly figures due to format selection error
- Corrected XBRL files were submitted to the exchange on January 13, 2026
- Management confirmed the error was procedural and linked to recent XBRL format changes
- The company has assured the exchange of stricter compliance to prevent future filing errors
Shaily Engineering Plastics Limited has submitted a revised certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The revision was necessitated by technical errors in the original certificate issued by the Registrar and Transfer Agent (RTA), Bigshare Services Private Limited. The document confirms that all securities received for dematerialization were processed, cancelled, and the depository names were updated in the register of members. This is a standard administrative filing ensuring regulatory compliance regarding share processing.
- Revised certificate issued for the quarter ended December 31, 2025, following technical errors in the January 7, 2026 filing.
- RTA Bigshare Services Private Limited confirmed dematerialization requests were handled within the mandated 15-day period.
- Confirmation that security certificates were mutilated and cancelled after due verification by depository participants.
- The company remains compliant with SEBI regulations regarding the listing of dematerialized securities on BSE and NSE.
Shaily Engineering Plastics Limited has submitted its quarterly compliance certificate under SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The company's Registrar, Bigshare Services, confirmed that the regulation is technically not applicable as all shares are already in demat form. No requests for rematerialization were received during this period. This filing is a standard procedural requirement for listed companies in India to confirm the status of share certificates.
- Compliance certificate issued for the quarter ended December 31, 2025.
- Registrar confirms 100% of shares are held in electronic (demat) form.
- Zero requests for rematerialization were received during the three-month period.
Shaily Engineering Plastics Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results of the quarter ending December 31, 2025. The window will remain closed until 48 hours after the financial results are declared to the public. The specific date for the board meeting to approve these results will be communicated at a later time.
- Trading window closure begins on January 1, 2026.
- Closure is related to the financial results for the quarter ending December 31, 2025.
- Window will reopen 48 hours after the official declaration of results.
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
Shaily Engineering Plastics Limited has been awarded the 'Top 50 Innovative Company' recognition by the Confederation of Indian Industry (CII) for 2025. This award highlights the company's excellence in innovation and technological advancement within the engineering plastics industry. Such recognition from a premier industry body like CII enhances the company's brand reputation and competitive positioning. While the award has no direct immediate impact on financial statements, it validates the company's R&D capabilities and long-term growth potential through innovation.
- Received the prestigious 'Top 50 Innovative Company' award from the Confederation of Indian Industry (CII).
- Recognition awarded at the CII Industrial Innovation Awards 2025.
- The award serves as a formal validation of the company's innovation excellence and R&D focus.
- Enhances the company's profile among global clients seeking high-precision and innovative plastic solutions.
Financial Performance
Revenue Growth by Segment
In H1 FY26, the Pharma segment grew 171% YoY to INR 176 Cr, the Industrial segment grew 17% YoY to INR 41 Cr, and the Consumer segment grew 6% YoY to INR 286 Cr. Overall consolidated revenue for H1 FY26 grew 36% YoY to INR 503.3 Cr.
Geographic Revenue Split
The UK-based subsidiary, Shaily Innovations Limited, reported a turnover of INR 48.68 Cr (GBP based) for FY25, representing approximately 6% of consolidated revenue. The company also expanded into Dubai with Shaily Innovations FZCO in January 2025.
Profitability Margins
Consolidated PAT margins improved significantly from 10.6% in H1 FY25 to 18.4% in H1 FY26. Gross profit margins on a standalone basis improved from 40.6% to 53.0% (+1,230 bps) in the same period due to a shift toward higher-margin IP-led pen platforms.
EBITDA Margin
Consolidated EBITDA margin stood at 30.2% in H1 FY26, an increase of 930 bps over 20.9% in H1 FY25. EBITDA grew 96% YoY to INR 152 Cr.
Capital Expenditure
Net cash used in investing activities (primarily capex) was INR 87.5 Cr in H1 FY26 compared to INR 19.2 Cr in H1 FY25. The company is committing to new capacities to support healthcare segment growth.
Credit Rating & Borrowing
CARE Ratings reaffirmed CARE A+; Stable for long-term bank facilities (INR 239.62 Cr) and CARE A1 for short-term facilities (INR 35.00 Cr) in October 2025. Borrowing costs are reflected in a finance cost of INR 7.8 Cr for H1 FY26.
Operational Drivers
Raw Materials
Plastic resins and polymers (common materials used across all platforms) represent the primary raw material cost, which accounted for approximately 47% of standalone revenue in H1 FY26 (INR 216.7 Cr).
Import Sources
Not disclosed in available documents, though the company notes vulnerability to exchange rate fluctuations, implying significant imports.
Capacity Expansion
The fixed asset turnover ratio stands at 2x as of September 30, 2025. The company has committed to new capacities specifically for the healthcare segment to meet increased demand for drug delivery devices.
Raw Material Costs
Raw material and purchase costs stood at INR 216.7 Cr for H1 FY26. Profitability is vulnerable to raw material price volatility, though commonality of materials across platforms allows for supply chain flexibility.
Manufacturing Efficiency
EBITDA margins of 30.2% and a fixed asset turnover of 2x reflect high efficiency in precision moulding operations.
Strategic Growth
Expected Growth Rate
36%
Growth Strategy
Growth is driven by scaling the healthcare segment, which grew 171% in H1 FY26. Strategy includes commercializing IP-led pen platforms, executing new collaborative design-to-manufacture contracts with MNC pharma companies, and expanding design services through the Dubai subsidiary.
Products & Services
Drug delivery devices (insulin pens), precision plastic components for consumer electronics, and industrial plastic packaging.
Brand Portfolio
Shaily
New Products/Services
IP-led pen platforms and new drug delivery device contracts are expected to start commercial supplies in H2 FY26.
Market Expansion
Expansion into the Middle East via Shaily Innovations FZCO (Dubai) for drug delivery device design and development.
Strategic Alliances
Collaborative design-to-manufacture contracts with multinational pharmaceutical companies for precision moulding.
External Factors
Industry Trends
The industry is shifting toward precision-engineered plastics in healthcare. Shaily is positioned to benefit from this as healthcare revenue share doubled to 38% in Q2 FY26.
Competitive Landscape
Competes in the precision plastic injection moulding space, serving global leaders in pharma and consumer segments.
Competitive Moat
Moat is built on IP-led pen platforms, 40 years of promoter experience in injection moulding, and established relationships with global MNCs. These are sustainable due to high switching costs in regulated pharma markets.
Macro Economic Sensitivity
Highly sensitive to exchange rate fluctuations and global polymer price volatility.
Consumer Behavior
Increased demand for self-administration drug delivery devices is driving the 171% growth in the healthcare segment.
Regulatory & Governance
Industry Regulations
Operations are subject to stringent medical device manufacturing standards and drug delivery device contract regulations.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 23.5% (INR 28.4 Cr tax on INR 120.8 Cr PBT).
Legal Contingencies
Not disclosed in available documents; MDA reports no material contracts or arrangements with related parties that were not at arm's length.
Risk Analysis
Key Uncertainties
Regulatory approval delays for new pharma platforms (potential 12-14 month impact) and raw material price volatility.
Geographic Concentration Risk
Manufacturing is concentrated in India, while R&D and design are spread across the UK and Dubai.
Third Party Dependencies
High dependency on a few large-size multinational customers for a majority of revenue.
Technology Obsolescence Risk
Mitigated by continuous investment in R&D centers in the UK and Dubai to develop next-generation drug delivery platforms.
Credit & Counterparty Risk
Maintains a healthy financial profile with adequate liquidity and a CARE A+ credit rating.