Shaily Engineering Plastics reports a significant boost in its healthcare division, which now accounts for over half of the group’s revenue, as it secures new projects and expands its product lines amidst a mixed near-term outlook.
Shaily Engineering Plastics said its healthcare division became the engine of growth in the June quarter, helping lift consolidated revenue 14% year on year to ₹281 crore, according to GuruFocus. The company said healthcare sales jumped 85% to ₹142 crore and accounted for 51% of group revenue, while EBITDA rose 18% to ₹83 crore and net profit increased 17% to ₹48 crore.
Management said the business won two new healthcare platform projects and secured orders for injector pen supplies after approvals in Canada and Brazil for semaglutide products. Amit Sanghvi, managing director, said the company had also brought in dedicated business development heads for Europe and North America, part of an effort to deepen ties with large global drug makers.
The near-term picture was less uniform. GuruFocus reported that consumer revenue fell 24% to ₹116 crore amid weak demand for home furnishings in Europe and the US, while gross margin slipped sequentially because of higher commodity and freight costs and premium freight linked to unrest in West Asia. The company’s machine utilisation was 50.2%, and management said the UK unit saw a decline because of timing in milestone billing.
Even so, Shaily sounded upbeat on capacity and newer product lines. Sanghvi said total delivery-device shipments in the quarter were close to 9 million units and that the company expects to beat its full-year target of 36 million pens. The new 25 million-pen line is due to be operational by the end of September, while work continues on emergency-use autoinjectors, reusable autoinjectors and on-body injectors. The company also said commercial supplies have started in consumer electronics and that semiconductor trays should begin contributing from the fourth quarter of FY27.
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