Shaily Engineering Plastics Ltd (SHAILY)

Chemicals · Plastic products · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹3,249.15 ↑ 44.15% (1Y)

🎯 Key Takeaways

Shaily Engineering Plastics Ltd is in a growth phase driven by operational expansion and capital efficiency, evidenced by strong ROE and ROCE, but trading at a high P/E of 85.1 suggests premium valuation expectations.
Revenue grew 18.5% QoQ to ₹281 in Q1FY27.
⚠️ Leadership transition risk: The MD reappointment requires shareholder approval at the AGM, and any dissent could destabilize management continuity.

Market Cap

₹14,945

P/E Ratio

84.5

P/B Ratio

27.29

ROE

32.3%

ROCE

33.8%

Debt/Equity

0.34

Div Yield

0.09%

Promoter

41.1%

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📖 The Story

Shaily Engineering Plastics Ltd is in a growth phase driven by operational expansion and capital efficiency, evidenced by strong ROE and ROCE, but trading at a high P/E of 85.1 suggests premium valuation expectations. The company has demonstrated consistent top-line growth and improving profitability trends over the last four quarters, supported by strategic leadership continuity and capital allocation discipline. However, its financial trajectory reflects a transition from high-margin spikes to more stable, sustainable growth, with management focusing on execution rather than aggressive expansion.

📰 What's Happening

In the latest board meeting on August 8, 2026, the company approved unaudited Q1 FY26 results and reappointed Managing Director Amit Sanghvi until 2031, pending shareholder approval at the upcoming AGM. The board also fixed September 11, 2026, as the record date for the FY25-26 final dividend and approved a revised insider trading code. These actions underscore a focus on governance, shareholder returns, and leadership stability. The reappointment is contingent on shareholder vote, introducing a near-term governance risk despite no formal guidance on future performance or capital plans.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	257	251	237	281
Operating Profit	67	54	52	69
OPM %	26.2%	21.5%	22.1%	24.6%
Net Profit	51	37	40	48
EPS	₹11.15	₹8.13	₹8.74	₹10.44

The company's quarterly revenue has shown modest growth, rising from ₹257 crore in September 2025 to ₹281 crore in June 2026, while operating margins peaked at 26.2% in September 2025 but moderated to 24.6% in June 2026. Profitability remains resilient, with net profit increasing from ₹37 crore to ₹48 crore over the same period, supporting EPS growth from ₹8.13 to ₹10.44. This trend suggests stable demand and pricing power, though margin expansion has plateaued, indicating that further gains may depend on operational efficiency rather than volume-driven growth.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue, margins, or capital allocation in the latest filings. The only forward-looking elements are procedural: the reappointment of the Managing Director pending shareholder approval and the fixed dividend record date for September 11, 2026. There is no disclosed roadmap for new product lines, capacity expansion, or market expansion, suggesting a focus on consolidating existing operations rather than aggressive growth initiatives.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	9	9	9	9
Reserves	486	538	626	707
Borrowings	176	188	189	177
Total Liabilities	815	933	1,055	1,147
Fixed Assets	430	502	514	577
Investments	0	0	0	0
Total Assets	815	933	1,055	1,147

The balance sheet shows a stable capital structure with total assets growing from ₹933 crore in March 2025 to ₹1,147 crore in March 2026, driven by rising equity and reserves. Borrowings remain low and stable at ₹177 crore, indicating minimal reliance on debt financing. Equity and reserves have increased steadily, suggesting retained earnings are being reinvested or accumulated, supporting financial resilience without aggressive leverage. This reflects a conservative capital allocation approach focused on internal funding rather than external debt or equity raises.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	+110
Investing	-71
Financing	-42
Net Cash Flow	-3

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	43.7%	43.4%	43.4%	41.1%
FII	11.3%	12.0%	16.7%	18.2%
DII	13.7%	13.6%	10.6%	14.8%
Public	23.0%	24.5%	23.3%	19.9%
# Shareholders	30,784	56,192	52,325	56,755

Promoter holding has declined slightly from 43.72% in Q2FY26 to 41.09% in Q1FY27, while FII ownership has increased from 11.31% to 18.18% over the same period, indicating growing institutional confidence. DII holdings have remained relatively stable, but public shareholding has risen, expanding the investor base. The increase in shareholder count from 30,784 to 56,755 suggests improved retail participation. There are no signs of promoter selling or significant dilution, and the stable borrowing levels suggest no urgent capital needs.

⚖️ Peer Comparison — Plastic products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
SUPREMEIND	45,398	44.0	22.1%	16.7%	0.00
ASTRAL	40,535	70.4	20.0%	14.2%	0.04
SHAILY	14,945	84.5	33.8%	32.3%	0.34
FINPIPE	9,633	15.6	12.7%	9.9%	0.07
TIMETECHNO	9,411	18.5	20.9%	17.2%	0.22
KINGFA	8,169	36.2	39.9%	31.0%	0.05
SAFARI	7,500	45.4	19.8%	14.8%	0.00
VIPIND	4,312	—	-43.7%	-130.7%	1.42
RESPONIND	4,002	39.5	7.5%	6.5%	0.12
PRINCEPIPE	3,223	31.0	8.0%	6.5%	0.17

🔗 Peer Stock Analyses

SUPREMEIND ASTRAL FINPIPE TIMETECHNO KINGFA

⚠️ Risk Factors

1. Leadership transition risk: The MD reappointment requires shareholder approval at the AGM, and any dissent could destabilize management continuity. 2. Margin pressure: Operating margins have stabilized after a peak in late 2025, with no indication of recovery, raising concerns about sustaining profitability amid competitive pricing. 3. Low visibility on growth catalysts: No disclosed expansion plans or new markets, making future growth dependent on organic performance without clear catalysts. 4. Valuation sensitivity: High P/E of 85.1 makes the stock vulnerable to earnings volatility or macro slowdowns in industrial demand.

📋 Recent Filings

🧠 Analyst's Read

The company demonstrates operational stability and improving profitability, but its future performance hinges on shareholder approval of leadership and execution of its undisclosed growth agenda. Investors should monitor the AGM outcome and any future commentary on capacity utilization or order pipeline for forward-looking signals.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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