Overview

Detailed Summary

Shaily Engineering Plastics Limited is India’s largest exporter of precision injection‑moulded plastic components, offering end‑to‑end manufacturing, assembly and metrology services across Consumer, Industrial and Healthcare segments from seven plants in Gujarat and overseas subsidiaries, supported by 200+ injection moulding machines and over 2,000 employees.
Healthcare has become the company’s primary growth engine: Healthcare revenue grew 158% for 9M FY26 and contributed 42% of Q3 revenue, propelled by pen injector programs, two new GLP‑1 customers, two global pharma contracts and ongoing line additions that aim to scale device manufacturing for GLP‑1 and other advanced therapies.
Financially, Shaily reported consolidated revenue growth of +32% for 9M FY26 with gross margin expansion of ~1,090 basis points YoY and EBITDA margin rising to 29.0%; RoCE improved to 38.4% while Total Debt/Equity fell to 0.3x, reflecting improving operating leverage and stronger cash generation.
Execution and timing are material: India high‑speed lines are in qualification with staggered commercialisation through mid‑2026, while a large Abu Dhabi facility (AED130–150m) targets Q4 FY28 start; management reports India expansions are mostly contract‑backed but Abu Dhabi is currently ~50–60% secured, so scale benefits depend on timely execution and additional book‑ings.
The company is also diversifying into higher‑precision consumer electronics and semiconductor casing opportunities, supported by a UK medical device R&D center and investments in automation, metrology and toolroom upgrades, indicating a strategic pivot to higher value, defendable engineering plastics applications.

Sector: Plastic products
Industry: Plastics - Others
Market Cap: 8,654 Cr
Volatility: High Risk
P/E Ratio: 55.0
Industry P/E: 24.7
PEG Ratio: 1.5
P/B Ratio: 13.6
52W High: 2,799.20
52W Low: 1,373.35

Sales CAGR

1Y: 22.20%
3Y: 9.26%
5Y: 17.04%
10Y: 13.77%

Profit CAGR

1Y: 62.54%
3Y: 26.37%
5Y: 24.62%
10Y: 18.41%

ROE

TTM: 23.00%
3Y: 10.36%
5Y: 10.37%
10Y: 11.75%

ROCE

TTM: 25.18%
3Y: 15.07%
5Y: 14.38%
10Y: 16.34%

Technicals

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Forecasts

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Analyst Target, Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SHAILY	1890.20	8,654 Cr	55.03	13.62	0.11	23.00	25.18	15.01
TIMETECHNO	175.00	8,439 Cr	18.96	2.20	0.67	13.83	17.71	10.06
KINGFA	4124.90	5,590 Cr	33.27	4.32	0.00	12.16	16.66	9.69
SJS	1700.00	5,436 Cr	35.73	7.21	0.14	18.40	23.23	15.73
STUDDS	518.00	2,029 Cr	29.27	4.22	0.48	24.59	32.76	12.93
JAICORPLTD	103.50	1,816 Cr	10.49	1.25	0.48	11.44	12.75	11.33
ALLTIME	212.85	1,394 Cr	23.62	2.35	0.00	6.49	9.84	4.34

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	158	158	171	179	192	198	218	247	257	251
Expenses	134	127	136	144	152	152	163	178	177	184
Operating Profit	24	32	35	35	40	46	55	68	79	66
OPM %	14.97	20.12	20.34	19.74	20.97	23.22	25.02	27.69	30.91	26.48
Other Income	2.97	1.08	1.57	0.71	1.04	0.44	0.13	2.09	2.28	0.07
Interest	4.31	5.00	4.69	4.36	4.53	4.14	3.92	3.87	3.91	4.38
Depreciation	8.11	9.41	10	10	10	11	11	11	12	13
Profit Before Tax	14	19	22	22	27	32	40	55	66	50
Tax %	23.48	21.73	10.34	19.51	17.38	20.03	27.80	25.34	21.99	24.50
Net Profit	11	15	19	17	22	25	29	41	51	37
EPS in Rs	2.36	3.14	4.21	3.78	4.76	5.47	6.20	8.92	11.12	8.11

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	568	607	644	854
Expenses	487	515	527	645
Operating Profit	81	92	117	209
OPM %	14.30	15.14	18.16	24.46
Other Income	8.83	4.50	6.49	3.70
Interest	17	18	18	16
Depreciation	27	33	36	43
Profit Before Tax	47	45	70	153
Tax %	24.21	22.25	17.98	23.50
Net Profit	35	35	57	117
EPS in Rs	—	7.65	12.45	34.35
Dividend Payout %	0.00	0.00	8.01	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024
Equity Capital	9.17	9.17	9.17
Reserves	358	392	450
Borrowings	175	188	209
Other Liabilities	135	103	114
Total Liabilities	677	693	782
Fixed Assets	333	367	473
CWIP	29	68	20
Investments	0.00	0.00	0.00
Other Assets	316	257	289
Total Assets	677	693	782

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	55	90	92	110
Cash from Investing Activity	-129	-101	-94	-71
Cash from Financing Activity	108	-5.13	4.64	-42
Net Cash Flow	34	-16	3.08	-3.13

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	43.81%	43.81%	43.81%	43.81%	43.81%	43.81%	43.81%	43.72%	43.72%	43.72%	43.72%	43.40%
FIIs	7.13%	7.12%	7.01%	7.00%	6.64%	2.04%	3.11%	5.42%	7.39%	9.71%	11.31%	12.00%
DIIs	14.10%	13.84%	13.82%	12.99%	7.69%	9.49%	12.35%	11.65%	13.72%	14.14%	13.71%	13.63%
Public	34.96%	35.23%	35.36%	36.20%	41.86%	44.66%	40.73%	39.20%	35.17%	32.43%	31.27%	30.97%
Total Shareholders	5,257	5,729	6,236	8,339	9,208	10,632	15,255	19,191	19,442	23,648	30,784	56,192

Market Transactions

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

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