Shaily Engineering Plastics (501423) Q2 25/26 earnings summary

Executive summary

• Achieved 34% year-on-year revenue growth in Q2 FY26 to INR 257 crores, driven by a 163% surge in the healthcare segment, which now contributes 38% of total revenue.

• EBITDA nearly doubled year-on-year, with margins expanding over 900 basis points, and PAT increased by 134% in Q2 FY26.

• Installed 19 new machines and launched next-generation GLP-1 device (Axiom Max), signing four new projects across GLP-1 and other therapies.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were reviewed and approved by the Board on November 8, 2025.

• Results prepared in accordance with Ind AS 34 and SEBI Listing Regulations, with no material misstatements found by statutory auditors.

Financial highlights

• Q2 FY26 consolidated revenue: INR 256.7 crores (up 34% year-on-year); H1 FY26: INR 503.3 crores (up 36% year-on-year).

• Q2 FY26 EBITDA: INR 82 crores (up 100%); EBITDA margin: 31.8%; PAT: INR 51.3 crores (up 134%); PAT margin: 20%.

• H1 FY26 EBITDA: INR 152 crores (up 96%); PAT: INR 92.4 crores (up 135%).

• Cash PAT for H1 FY26: INR 116 crores (up 94% year-on-year); gross profit margin improved by 1,100–1,300 bps.

• Basic EPS (consolidated) for Q2 FY26 was ₹11.15, up from ₹4.78 in Q2 FY25.

Outlook and guidance

• Healthcare segment expected to grow 30%-40% annually for the next few years, with commercial supplies for consumer electronics to begin in H2 FY26.

• Capacity expansion from 40 million to 80 million pens by end of FY26, with INR 125 crores investment.

• EBITDA margins expected to sustain or improve as healthcare scales up; focus remains on customized component manufacturing and technology investments.

• Expansion of manufacturing capacity and new project wins position the company for sustained performance.