Shaily Engineering Plastics (501423) Q1 24/25 earnings summary

Executive summary

• Achieved consolidated revenue growth of 14% year-over-year to ₹17,938.83 lakhs (INR 179.4 crores) in Q1 FY25, with improved gross and EBITDA margins at 42.1% and 20.1% respectively.

• Net profit after tax for Q1 FY25 was ₹1,741.00 lakhs (INR 17.4 crores), up 39% year-over-year, with PAT margin at 9.7%.

• Secured new business confirmations and contracts in consumer (FMCG), healthcare (pen injectors), industrial (automotive components), and home furnishing segments.

• Received a significant purchase order for 10 million insulin pens, to be supplied over this and next year.

• Shaily UK continues to grow, focusing on pharma and drug delivery device development.

Financial highlights

• Q1 FY25 consolidated revenue reached ₹17,938.83 lakhs (INR 179.4 crores), up 14% year-over-year; standalone revenue at ₹16,902.68 lakhs (INR 169.0 crores), up 11%.

• EBITDA grew 31% year-over-year to ₹2,163.38 lakhs (INR 36.1 crores), with EBITDA margin rising 250 bps to 20.1%.

• PAT increased 38% year-over-year to ₹1,741.00 lakhs (INR 17.4 crores), with PAT margin up 170 bps to 9.7%.

• Cash PAT rose 33% to ₹27.6 crores; cash PAT margin at 15.4%.

• Exports accounted for 80% of revenue in Q1 FY25.

Outlook and guidance

• Focus remains on expanding contract manufacturing for medical devices, proprietary products, and specialized packaging.

• Expectation of higher year-on-year growth, especially in healthcare, with new orders contributing from Q2 onwards.

• Shaily UK projected to grow 35%-45% in the current year.

• Anticipates capacity expansion in healthcare device manufacturing over the next 18-24 months.

• New business wins and product diversification signal continued growth momentum.