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Shaily Engineering Secures Rs 423 Crore Order for Pen Injectors from Domestic Pharma Major
Shaily Engineering Plastics has signed a significant contract worth approximately Rs. 423 crores with a leading domestic pharmaceutical company. The agreement involves the manufacturing and commercial supply of pen injectors over a four-year period. This contract provides strong revenue visibility and highlights the company's growing capabilities in the high-margin healthcare and medical devices segment. The deal underscores Shaily's strategic shift towards specialized, high-precision plastic components for the pharma industry.
Key Highlights
Total contract value estimated at approximately Rs. 423 crores.
Execution and supply period scheduled over the next 4 years.
Contract awarded by a large domestic pharmaceutical company for pen injector manufacturing.
Nature of the agreement is a Manufacturing & Commercial Supply Agreement.
Strengthens the company's position in the specialized healthcare plastics vertical.
💼 Action for Investors
Investors should view this as a major positive for long-term revenue growth and margin expansion. Monitor the company's execution capabilities and potential for further order wins in the healthcare segment.
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Shaily Engineering Q3 PAT Jumps 48% to ₹37 Cr; Plans ₹350 Cr Abu Dhabi Healthcare Expansion
Shaily Engineering reported a strong Q3 FY26 with revenue growing 27% YoY to ₹251 crores and PAT increasing 48% to ₹37 crores. The Healthcare segment was the primary driver, growing 139% YoY and now contributing 42% of total revenue. The company announced a major ₹300-350 crore expansion in Abu Dhabi to double its pen injector capacity to 150 million units by FY28. Management also highlighted strong traction in GLP-1 drug delivery devices, securing 65-75% share among first filers in the Canadian market.
Key Highlights
Q3 FY26 PAT grew 48% YoY to ₹37 crores with EBITDA margins expanding 310 bps to 26.5%.
Healthcare revenue surged 139% YoY to ₹104 crores, driven by high demand for pen and auto-injectors.
Announced ₹300-350 crore capex for a new 75 million unit capacity facility in Abu Dhabi, operational by Q4 FY28.
Secured 2 new GLP-1 customers and 2 global pharma contracts; holds ~65-75% share of first filers in Canada.
Appointed Joe Kam (ex-SHL/Flextronics) as COO of Healthcare to lead global operations from March 2026.
💼 Action for Investors
Investors should favor the company's transition into a high-margin healthcare player and the aggressive global capacity expansion. Monitor the timely commercialization of the Abu Dhabi plant and the ramp-up of GLP-1 device supplies.
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Shaily Engineering Q3 PAT up 48% to ₹37.4 Cr; Healthcare segment surges 139% YoY
Shaily Engineering Plastics reported a robust Q3FY26 with consolidated revenue rising 27% YoY to ₹250.5 crore. The growth was primarily driven by the Healthcare segment, which grew 139% YoY, offsetting a 13% decline in the Consumer segment. EBITDA margins expanded significantly to 26.5%, resulting in a 48% YoY increase in PAT to ₹37.4 crore. The company also announced a strategic expansion into Abu Dhabi with a ₹300-340 crore (AED 130-150m) facility for medical devices, targeting the global GLP-1 market.
Key Highlights
Consolidated Q3 Revenue grew 27% YoY to ₹250.5 Cr, while 9M FY26 PAT surged 101% to ₹129.8 Cr.
Healthcare segment revenue jumped 139% YoY to ₹104.3 Cr in Q3, driven by new GLP-1 pen injector contracts.
EBITDA margins reached 26.5% in Q3, a 310 bps improvement, reflecting a shift toward higher-margin products.
New Abu Dhabi facility planned with AED 130-150 million investment to produce 75 million pen injectors annually.
Return on Capital Employed (RoCE) improved sharply to 38.4% from 24.4% in March 2025.
💼 Action for Investors
The stock remains a strong play on the medical device outsourcing theme, specifically in the high-demand GLP-1 segment. Investors should monitor the execution of the Abu Dhabi facility and the stabilization of the consumer segment.