Shaily Engineering Plastics (501423) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 saw robust growth in the healthcare segment, now the largest contributor, driven by pen injector platforms, new launches, and global approvals, despite supply chain and commodity volatility.

• Strategic focus on quality, innovation, and talent enabled commercial success in six of eight device platforms and the first generic semaglutide launches globally.

• Significant new business wins across healthcare, consumer, and industrial segments, including global FMCG, LED, and automotive projects.

• Dedicated business development heads appointed for Europe and North America to accelerate partnerships and growth in priority markets.

• Board approved unaudited financial results, re-appointed Managing Director Amit Mahendra Sanghvi for five years, and set a record date for the final dividend.

Financial highlights

• Consolidated revenue grew 14% year-over-year to ₹280.67 crore in Q1 FY27.

• EBITDA rose 18% to ₹83.3 crore, with margin improving by 120 bps to 29.7%.

• Profit after tax increased 17% to ₹48.01 crore; tax margin expanded by 40 bps to 17.1%.

• Gross profit margin improved by 540 bps to 56.6% in Q1 FY27.

• Machine utilization improved to 50.2% from 48.7% year-over-year.

Outlook and guidance

• Full-year guidance for pen injector deliveries is 36 million units, with management confident of exceeding this target barring unforeseen supply chain issues.

• Additional 25 million pen capacity to be operational by September, raising total to 75 million pens annually.

• Abu Dhabi plant expected to begin commercial sales by end of FY 2028, with 50-55% capacity already indicated.

• Semiconductor tray revenue to commence from Q4 FY27.

• Board recommended a final dividend for FY 2025-26, with record date set.