Shaily Engineering Plastics LimitedPharmaceuticals & HealthcareSHAILY
Q1 FY27 concall · earnings callShaily Engineering Plastics Limited
Healthcare, now the largest segment with 85% revenue growth, drove overall performance amid a challenging global environment and softer Consumer demand.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹281 Cr | 14% | |
| EBITDA | ₹83 Cr | 18% | |
| EBITDA Margin | 29.7% | 120 bps | |
| PAT | ₹48 Cr | 17% | |
| PAT Margin | 17.1% | 40 bps | |
| Healthcare Revenue | ₹142 Cr | 85% | |
| Consumer Revenue | ₹116 Cr | -24% | |
| Industrial Revenue | ₹23 Cr | 25% |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹197.58 Cr+24.7% YoY+2.9% QoQ | ₹25.20 Cr+73.6% YoY+15% QoQ | ₹5.49+73.2% YoY+14.9% QoQ |
| Q2 FY25 | ₹192.00 Cr+21.9% YoY+7% QoQ | ₹21.92 Cr+102.4% YoY+25.9% QoQ | ₹4.78-59.5% YoY+25.8% QoQ |
| Q1 FY25 | ₹179.39 Cr+14% YoY+5.2% QoQ | ₹17.41 Cr+38.2% YoY-10% QoQ | ₹3.80-72.3% YoY-10% QoQ |
| Q4 FY24 | ₹170.56 Cr+26.8% YoY+7.6% QoQ | ₹19.34 Cr+94.8% YoY+33.2% QoQ | ₹4.22-61% YoY+33.1% QoQ |
| Q3 FY24 | ₹158.44 Cr+16.3% YoY+0.6% QoQ | ₹14.52 Cr+156.1% YoY+34.1% QoQ | ₹3.17-48.7% YoY-73.1% QoQ |
TL;DR
- Consolidated revenue grew 14% YoY to INR281 crores, with Healthcare revenue up 85% to INR142 crores.
- EBITDA grew 18% to INR83 crores, with margin improving 120 bps to 29.7%.
- PAT grew 17% to INR48 crores.
- Consumer segment revenue declined 24% YoY due to softer demand in Europe and the U.S.
- The company expects to exceed its full-year pen injector guidance of 36 million units.
- New 25 million pen capacity is expected to be operational by end of September.
Said on the call
“Combined with the deliberate effort to hire the best talent in the industry globally, this approach has produced measurable results for Shaily.”
From the Q&A
| Topic | What management said |
|---|---|
| Pen Injector Volumes and Guidance | The company delivered close to 9 million devices in Q1 and expects to exceed its full-year guidance of 36 million pens, subject to customer supply chain conditions. |
| Capacity Ramp-up | A new line's speed has increased by 9% with a plan for a further 30% jump after additional equipment is installed, targeted before the end of the quarter. The next line's strategy involves achieving over 80% efficiency at the supplier before shipment to ensure a smoother start. |
| Gross Margin Pressure | Sequential gross margin decline was attributed to increased commodity and freight costs, including premium freight incidents; pass-through to customers was delayed into May-June/July, with normalization expected by Q3. |
| Pricing and Competition | Management stated contracts are not cost-plus but are volume and market-driven with annual price reviews; they are not overly concerned about potential Chinese competition pricing devices at $1.50-$1.70 versus their own above $2, citing older technology and patent infringement concerns. |
| Consumer Electronics and Semiconductor Trays | The company has started commercial supply in Consumer Electronics, won 5 new components from a new customer, and projects reaching $10 million revenue in this vertical within 24 to 30 months. For Semiconductor Trays, an initial INR5 crores investment is planned in the existing facility, with supply expected to start in Q4. |
| New Healthcare Product Development | Management is developing an emergency use auto-injector (targeting 99.999% reliability, closure by end of '27), a reusable auto-injector (to be showcased at CPHI Milan), and on-body injectors for oncology treatments. |
| Abu Dhabi Facility | The facility is on track for production by the end of FY28, with roughly 50-55% of capacity having commitments or indications. |
Guidance
- Expect to exceed the full-year pen injector guidance of 36 million units.
- Additional 25 million pen capacity expected to become operational by end of September.
- Gross margin expected to normalize by Q3 FY27.
- Consumer business expected to maintain levels similar to FY26, not grow in the current year.
- Consumer Electronics revenue projected to reach $10 million within 24 to 30 months (not formal guidance).
- Semiconductor Tray revenue to start in Q4 FY27.
- Abu Dhabi plant to start commercial sales by end of FY28.
Source
Summary written from the transcript filed by Shaily Engineering Plastics Limited for the call held on 10 Aug 2026; published 22 Aug 2026, 10:30 IST.
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