Shaily Engineering Plastics has announced that its strategic partner, Orbicular Pharmaceutical Technologies, has launched a generic version of Semaglutide injection in Canada. This launch incorporates Shaily’s proprietary spring-driven ShailyPen Neo™ pen platform. The combination product has been commercially available in India since March 2026 and has secured USFDA Tentative Approval, along with a Notice of Compliance from Health Canada and approval from the Indian CDSCO.

Regulatory Approvals and Platform Details

The ShailyPen Neo™ platform is a high-performance, variable and fixed dose pen injector. It offers full compatibility with ISO-standard 3 mL cartridges, supporting both 3 mL and 1.5 mL fill volumes. Shaily Engineering Plastics was responsible for the full design, development, manufacturing, and supply of the device components used in the approved combination product.

Strategic Significance

Amit Sanghvi, Managing Director of Shaily Engineering Plastics, highlighted that spring-driven pen injector technology operates within a highly restricted IP environment. He noted that bringing this platform to regulatory approval required significant investment in design and industrial manufacturing. The company focuses on developing complex drug delivery systems, including pen injectors and autoinjectors, for global pharmaceutical markets.

Shaily Engineering Plastics has reported its financial results for the quarter and year ended March 31, 2026. The company's consolidated Profit After Tax (PAT) for FY26 surged by 83% to Rs 169.9 crore, compared to Rs 93.1 crore in the previous year. Revenue from operations for the fiscal year increased by 26% to Rs 990.7 crore, up from Rs 786.8 crore in FY25.

Key Financial Highlights

The company demonstrated strong operational performance with significant improvements in profitability margins. Consolidated EBITDA for FY26 rose by 61% to Rs 287.7 crore, with the EBITDA margin expanding by 630 basis points to 29.0%. For the fourth quarter of FY26, revenue stood at 2.37b Rupees, a 9% increase year-over-year, while net profit grew by 40% to 402m Rupees versus 286m Rupees in the same period last year. Q4 EBITDA came in at 656m Rupees versus 545m Rupees in Q4 FY25, with the EBITDA margin at 27.71% compared to 25.02% in Q4 FY25.

Segment Performance

Improved traction in the healthcare segment was the key driver for overall growth. Healthcare revenue increased by 139% to Rs 392.8 crore in FY26. In Q4 FY26, healthcare revenue grew by 101% to Rs 112.8 crore. Conversely, the Consumer segment faced weaker market demand in Europe and the USA, with revenue declining by 9% to Rs 511.3 crore in FY26 and 31% to Rs 102.1 crore in Q4 FY26. The Industrial segment revenue grew by 41% to Rs 86.6 crore in FY26.

Board Decisions

The Board of Directors, in its meeting held on May 19, 2026, approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Board has recommended a Final Dividend of Rs 3 per equity share of Rs 2 each (150%) for the year ended March 31, 2026, subject to the approval of shareholders in the forthcoming Annual General Meeting. Additionally, the Board passed an enabling resolution to raise funds up to Rs 500 crore in one or more tranches through permissible modes such as private placement, preferential issue, or rights issue.

The Board also approved the appointment of M/s Jain & Hindocha, Chartered Accountants, as the Internal Auditor and M/s YS Thakar & Co, Cost Accountants, as the Cost Auditor for F.Y. 2026-27.

Business Updates

The Healthcare segment successfully launched Shaily Harmony and Shaily Neo pens and received an order worth Rs 423 crore from a domestic pharma company for pen injectors. In the Consumer Electronics & Semiconductor segment, the company commenced commercial supplies and signed an agreement with a Korean firm for semiconductor trays. The Board also approved the appointment of Mr. Chi Hung Kam (Mr. Joe Kam) as the Chief Operating Officer – Healthcare, effective from May 20, 2026.