Shaily Engineering Plastics (501423) Q3 25/26 earnings summary

Executive summary

• Q3 and 9M FY26 delivered strong revenue and profit growth, driven by healthcare segment expansion and operational improvements.

• Appointed Joe Kam as COO of Healthcare, bringing significant international experience to lead global operations.

• Announced a new Abu Dhabi facility for pen/auto-injectors, targeting 75 million units/year, operational by Q4 FY28, expanding global footprint in medical devices.

• Unaudited standalone and consolidated financial results for Q3 and 9M FY26 were reviewed and approved by the Board on February 12, 2026.

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

Financial highlights

• Q3 FY26 consolidated revenue: INR 251 crores (up 27% YoY); EBITDA: INR 66 crores (up 43% YoY); PAT: INR 37 crores (up 48% YoY); PAT margin up 220 bps to 14.9%.

• 9M FY26 consolidated revenue: INR 754 crores (up 32% YoY); EBITDA: INR 218 crores (up 76% YoY); PAT: INR 130 crores (up 101% YoY); PAT margin up 590 bps to 17.2%.

• Gross profit margin improved by 1,090 bps YoY in Q3 and 9M FY26.

• Standalone and consolidated EPS for Q3 FY26 were ₹7.75 and ₹8.13, respectively; for 9M FY26, ₹24.51 and ₹28.24.

• Paid-up equity share capital as of December 31, 2025, was ₹919.10 lakhs.

Outlook and guidance

• Capacity expansions in India are fully backed by commercial contracts; Abu Dhabi facility is 50-60% secured by commitments, expected to be fully contracted within 18-24 months.

• GLP-1 pen injector supply ramping up, with strong demand and high market share in Canada.

• Guidance for pen injector volumes in FY26 remains at ~30 million, with slight delays due to qualification activities.

• Strategic expansion into Abu Dhabi to support global GLP-1 opportunity and scale drug-delivery manufacturing.

• The company continues to monitor regulatory changes, especially regarding new labour codes, and will adjust accounting as needed.