Shaily Engineering Plastics Limited delivered strong financial performance in Q3FY26, demonstrating significant growth across key metrics while announcing strategic expansion plans to strengthen its global manufacturing footprint in the healthcare segment.

Financial Performance Highlights

The company reported robust revenue growth of 27% year-on-year, with total revenue reaching INR251 crores in Q3FY26 compared to INR198 crores in Q3FY25. EBITDA performance was particularly impressive, growing 43% year-on-year to INR66 crores with margins expanding by 310 basis points to 26.50%.

For the nine-month period FY26, the company maintained strong momentum with revenue of INR754 crores (up 32% year-on-year) and EBITDA of INR218 crores (up 76% year-on-year). The company's ROCE and ROE stood at 38.40% and 29.10% respectively as of December 31, 2025.

Segment-wise Performance

The healthcare segment emerged as the primary growth driver, with revenue surging 139% to INR104 crores in Q3FY26 compared to INR44 crores in Q3FY25. This segment now contributes 42% to the overall revenue mix, doubling from the previous year and reflecting the increasing scale of this business vertical.

The consumer segment experienced a decline of 13% to INR123 crores, while the industrial segment showed strong growth of 87% to INR23 crores during the quarter.

Strategic Abu Dhabi Expansion

The company announced plans to establish a new scalable facility in Abu Dhabi for manufacturing pen and auto-injectors, representing a strategic move to build capacity in the fast-growing drug delivery segment. The facility details include:

This expansion will place the company in close proximity to international clientele and significantly scale the global manufacturing footprint in GLP-1 and other advanced therapies. The company is in discussions with the Abu Dhabi government for potential financial support.

Leadership Strengthening and Business Development

The company appointed Joe Kam as Chief Operating Officer of Healthcare division effective March 1, 2026. Kam brings over 20 years of international experience in manufacturing and operations across highly regulated industries, having previously held senior leadership roles at SHL in Taiwan managing device manufacturing operations across seven sites.

During the quarter, the company onboarded two new customers for GLP-1s and signed two additional contracts with Global Pharma for pen injector manufacturing and supply. The consumer segment received a new product mandate from an existing home furnishings customer, while the industrial segment commenced supplies of power tool components for a new client and added LED lighting applications.

Operational Metrics and Export Performance

The company processed 5,541 tonnes of polymers in Q3FY26 compared to 6,308 tonnes in Q3FY25, representing a 12% decline. However, for the nine-month period, polymer processing grew 4.40% to 19,209 tonnes versus 18,396 tonnes in the previous year. Machine utilization remained relatively stable at 47.10% in Q3FY26.

Exports continued to demonstrate strength, contributing approximately 71% of total revenue in both Q3FY26 and the nine-month period. The company maintains a disciplined approach to capital utilization with a debt-to-equity ratio of 0.3x and fixed asset turnover ratio of 2.0x as of December 31, 2025.

Shaily Engineering Plastics Limited has delivered robust financial performance for Q3FY26, demonstrating strong growth across key metrics. The company's consolidated revenue increased 27% to Rs. 250.5 crores compared to Rs. 197.6 crores in Q3FY25, while profit after tax surged 48% to Rs. 37.4 crores from Rs. 25.2 crores in the corresponding period last year.

Financial Performance Highlights

The company's Q3FY26 consolidated results showcase significant improvements across all major financial parameters:

For the nine months ended December 31, 2025, the performance was even more impressive with revenue growing 32% to Rs. 753.8 crores and PAT more than doubling with 101% growth to Rs. 129.8 crores.

Segment-wise Revenue Performance

The healthcare segment emerged as the standout performer, driving overall growth momentum:

The healthcare segment's exceptional growth of 139% reflects the company's successful expansion in medical device manufacturing and drug delivery systems. The industrial segment also showed strong momentum with 87% growth, while the consumer segment experienced a temporary decline of 13%.

Strategic Expansion and Leadership Appointments

Shaily Engineering Plastics announced significant strategic initiatives during the quarter. The company plans to establish a new manufacturing facility in Abu Dhabi with an investment of AED 130-150 million, targeting a capacity of approximately 75 million pen injectors per annum. The facility is expected to become operational by Q4 FY28 and will support the global GLP-1 opportunity while expanding the company's international manufacturing footprint.

The company also appointed Mr. Joe Kam as Chief Operating Officer (Healthcare) effective March 1, 2026. With over two decades of international experience in manufacturing and operations, Kam previously held senior positions at SHL Medical and Flextronics.

Operational Metrics and Capital Efficiency

The company demonstrated improved capital efficiency with Return on Capital Employed (RoCE) increasing to 38.4% in December 2025 from 24.4% in March 2025, representing an improvement of 1,400 basis points. Return on Equity (RoE) also strengthened to 29.1% from 18.5%, marking a 1,060 basis points increase.

Machine utilization across plants showed positive trends with export utilization at 47.1% compared to domestic utilization of 44.6% in Q3FY26. The company processed 5,541 MT of polymers for export compared to 6,308 MT for domestic markets during the quarter.

Business Development Achievements

During Q3FY26, Shaily Engineering Plastics achieved several business milestones including onboarding two new customers in the fast-growing GLP-1 segment and signing two new contracts with global companies for pen injector manufacturing and supply. The company also secured new product mandates in power tool components, LED lighting applications, and home furnishing products, demonstrating its diversified growth strategy across multiple sectors.