Shaily Engineering Plastics (501423) Q2 24/25 earnings summary

Executive summary

• Achieved 22% year-on-year revenue growth in Q2 FY 2025, reaching INR 192 crores, driven by strong performance in the Healthcare segment, which grew 94% year-on-year.

• Expanded business in healthcare, automotive, and consumer segments, including new marquee customers and product launches.

• Maintained a diversified business model with robust manufacturing capabilities and global client relationships.

• Unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2024 were reviewed and approved by the Board on 28 October 2024.

• Statutory auditors conducted a limited review and found no material misstatements in the financial disclosures.

Financial highlights

• Q2 FY 2025 revenue: INR 192 crores (22% YoY growth); EBITDA: INR 41.3 crores (56% YoY growth); EBITDA margin: 21.5% (+460 bps YoY).

• Q2 FY 2025 PAT: INR 21.9 crores (103% YoY growth); PAT margin: 11.4% (+450 bps YoY).

• H1 FY 2025 revenue: INR 371.4 crores (18% YoY growth); EBITDA: INR 77.4 crores (43% YoY growth); EBITDA margin: 20.9% (+370 bps YoY).

• H1 FY 2025 PAT: INR 39.3 crores (68% YoY growth); PAT margin: 10.6% (+320 bps YoY).

• Gross profit margin expanded by 840 bps in Q2 FY25 and 480 bps in H1 FY25.

Outlook and guidance

• Medical device business targeted to reach 25% of revenues in three years.

• Pen volumes expected to double in the second half of FY 2025 as new tooling comes online.

• Multiple launches for Teri, Lira, and Sema expected between FY 2026 and FY 2027 across global markets.

• Capacity expansions underway for insulin and semaglutide pens, aiming for total capacity of 90 million units over two years.

• Continued focus on expanding healthcare and automotive segments, leveraging new business wins and global partnerships.