Shaily Engineering Q2 FY27 Revenue Surges 24% to ₹320 Cr, EBITDA Crosses ₹100 Cr Milestone
Shaily Engineering Plastics Limited reported Q2 FY27 consolidated revenue of ₹320 crore, up 24% YoY, and EBITDA of ₹102 crore, up 25% YoY. Healthcare segment revenue grew 78% to ₹175 crore, becoming 55% of total revenue. The company launched the Toby Reusable auto-injector and is on track to exceed its FY27 device guidance of 36 million units.
The substantial revenue and EBITDA growth, coupled with the emergence of the Healthcare segment as a key driver and the launch of innovative products like the Toby Reusable auto-injector, are significant developments that are likely to have a high impact on the company's financial performance and market position.
The company reported strong financial results with significant year-on-year growth in revenue and EBITDA, exceeding historical milestones. The positive outlook driven by the Healthcare segment and new product launches contributes to a positive sentiment.
Shaily Engineering Plastics Limited (SEPL) announced its financial results for the second quarter and first half of FY27, reporting a significant 24% year-on-year increase in consolidated revenue to ₹320 crores for Q2 FY27. This marks the company's highest ever quarterly revenue. EBITDA also saw a substantial rise of 25% year-on-year and 22% sequentially, reaching ₹102 crores, with a healthy EBITDA margin of 31.9%. This achievement signifies the first time SEPL has surpassed the ₹100 crore EBITDA mark in a single quarter.
The company highlighted three key factors driving this performance: Firstly, the Healthcare segment has emerged as the primary growth engine, contributing 55% of the total revenue and recording an impressive 78% year-on-year growth. Secondly, gross margins recovered to 60%, an improvement of approximately 70 basis points compared to the previous year, following cost pressures experienced in Q1 FY27. Thirdly, the Consumer business has shown signs of stabilization over two consecutive quarters, although it continues to operate below the previous year's levels.
Despite facing geopolitical uncertainties, volatile input costs, and divergent demand trends, SEPL navigated these challenges through effective pricing discipline, procurement efficiencies, and a focus on margin resilience over volume-led growth in the Consumer segment. The company is strategically positioned to capitalize on the growing global GLP-1 market, especially with the expiry of patent protections leading to increased generic competition and widening patient access. SEPL is strengthening its platforms and scaling capacity, including its Abu Dhabi facility, to meet the anticipated surge in demand for drug delivery devices.
In the Healthcare segment, revenue stood at ₹175 crores in Q2 FY27, up 78% year-on-year, with year-to-date revenue reaching ₹318 crores, an 81% increase. Growth was primarily driven by pen injector platforms, particularly GLP-1 programs, and steady volumes in insulin and other therapies. SEPL delivered 10.4 million devices in the quarter and is on track to exceed its full-year guidance of 36 million devices. The company also launched its latest innovation, the Toby Reusable auto-injector, a sustainable, 2-step reusable auto-injector designed for next-generation GLP-1 therapies, aiming to reduce material consumption and environmental impact.
The Consumer segment revenue was ₹116 crores, a 14% decrease year-on-year but flat sequentially. The Industrial segment revenue grew by 23% year-on-year to ₹29 crores, driven by demand from Automotive, Appliances, and Consumer Electronics customers. SEPL is also progressing with its Semiconductor Tray and Consumer Electronics businesses, with commercial supplies commencing and trial production expected to start in Q3 FY27, with commercial shipments anticipated in Q4 FY27. The company is pursuing significant scale-up opportunities in these segments over the next 36 months.
Looking ahead to the second half of FY27, SEPL's priorities include ramping up newly commissioned capacity, exceeding full-year device guidance, advancing platforms in emergency use and oncology, progressing the Consumer Electronics and Semiconductor Packaging scale-up, and maintaining margin discipline. The company remains confident in its engineering capabilities, proprietary platforms, customer partnerships, and execution abilities, aiming to become a global innovation-led engineering and manufacturing partner.
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