# Shaily Engineering Plastics share price today (Shaily Engineering Plastics Ltd, NSE: SHAILY)

> Shaily Engineering Plastics share price today: ₹2,984.80 at the NSE close on 4 November 2026, up 20.7% in a year. Shaily Engineering Plastics (NSE: SHAILY) is worth ₹13,728 crore, trades at a P/E of 73.4 and has closed between ₹1,885.35 and ₹3,367.70 over the past 52 weeks. > Shaily Engineering Plastics Ltd's earnings have grown faster than its share price. Earnings per share grew +82.5% in a year while the price moved +20.7%. SHAILY · Plastics - Plastic & Plastic Products · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/shaily-engineering-plastics-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹2,984.80 (+20.7% in a year)
- P/E: 73.4× (higher than 53% of the last 4.4 years)
- Revenue (Sep 2026): ₹320 Cr (+24.5% on a year ago)
- Profit (Sep 2026): ₹61.0 Cr (+19.6% on a year ago)
- Operating margin: 30.0% (−1.0 points on a year ago)
- ROCE: 29%, FY26
- ROIC: 20.8%, against a 12.0% cost of capital: +8.8 points

The main question: yearly earnings per share moved +82.5% while the share price moved +20.7%. ## What is the Shaily Engineering Plastics share price today? Shaily Engineering Plastics Ltd's share price was ₹2,984.80 at the close on 4 November 2026. It has been rising for 27 weeks. That is 7.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,885 and ₹3,368, and at that close it sat 74% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running. Over the last 11 years the share price moved +2,788% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Shaily Engineering Plastics this quarter? Three changes stood out: foreign funds (FIIs) raised their stake for 9 quarters in a row, revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) and profit up on a year earlier for 12 quarters in a row (every quarter we can compare). 1. Foreign funds (FIIs) raised their stake for 9 quarters in a row From 2% to 19.4% of the company by the September 2026 quarter. 2. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹320 crore, +24.5% on a year earlier. 3. Profit up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter profit was ₹61 crore, +19.6% on a year earlier. Why: Profit rose because gross margin, the money left after direct costs, recovered to 60%. Next results: check whether subsidiaries turn profitable as management expects. From the earnings call on 30 Oct 2026. ## What are Shaily Engineering Plastics' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Shaily Engineering Plastics reported revenue of ₹320 crore, up 24.5% from ₹257 crore a year earlier, and a profit of ₹61.0 crore, up 19.6% from ₹51.0 crore. ### Shaily Engineering Plastics results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹320 crore | ₹257 crore | +24.5% |
| Profit | ₹61.0 crore | ₹51.0 crore | +19.6% |
| Earnings per share | ₹13.32 | ₹11.15 | +19.5% |
| Operating margin | 30.0% | 31.0% | −1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Shaily Engineering Plastics' management discussed these results on a call held on 30 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Shaily Engineering Plastics share price history? Shaily Engineering Plastics closed at ₹2,984.80 on 4 November 2026, up 20.7% from ₹2,471.95 a year earlier (7 November 2025) and up 684.6% over five years. Its highest weekly close since March 2016 was ₹3,367.70 on 14 August 2026. ### Shaily Engineering Plastics share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹3,164.25 | −5.7% |
| 1 month ago · 1 Oct 2026 | ₹3,010.95 | −0.9% |
| 6 months ago · 8 May 2026 | ₹2,676.60 | +11.5% |
| 1 year ago · 7 Nov 2025 | ₹2,471.95 | +20.7% |
| 3 years ago · 3 Nov 2023 | ₹346.20 | +762.2% |
| 5 years ago · 4 Nov 2021 | ₹380.44 | +684.6% |
| 10 years ago · 4 Nov 2016 | ₹124.00 | +2,307.1% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹103.36 | +2,787.8% |
| Highest weekly close since March 2016, also the 52-week high · 14 Aug 2026 | ₹3,367.70 | −11.4% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹42.27 | +6,961.3% |
| 52-week low (weekly close) · 17 Apr 2026 | ₹1,885.35 | +58.3% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Shaily Engineering Plastics? 4 Nov 2026: Shaily Engineering Plastics closed at ₹2,984.80, down 5.7% on the week and down 0.9% on the month. 30 Oct 2026: Shaily Engineering Plastics held its results call for July to September 2026. Management guided: FY27 device output to exceed 36 million; second pen line begins qualification next week, with December sales possible if successful. ### Earlier

- Results for July to September 2026: Revenue up 24.5% and profit up 19.6% on a year earlier. - 11 Sep 2026: ex-date for a dividend of ₹3 a share. - Our read, 22 Aug 2026: Healthcare revenue expanded 85% on a year earlier in April to June 2026 to ₹142 crore, reaching roughly 51% of consolidated sales as pen-injector volumes scaled. Additional 25 million pen capacity is planned for end-September 2026, taking installed capacity to approximately 75 million pens annually; Abu Dhabi remains a FY28 capacity option. - 23 Nov 2023: Share split: face value cut from ₹10 to ₹2 a share (ex-date). ### Our read of the business

Healthcare revenue expanded 85% on a year earlier in April to June 2026 to ₹142 crore, reaching roughly 51% of consolidated sales as pen-injector volumes scaled. Additional 25 million pen capacity is planned for end-September 2026, taking installed capacity to approximately 75 million pens annually; Abu Dhabi remains a FY28 capacity option. April to June 2026: Healthcare Reaches Roughly 51% Mix at ₹142 crore; Additional Pen Capacity Planned for End-September. (Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What dividend does Shaily Engineering Plastics pay? Shaily Engineering Plastics paid ₹3 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.10% at the ₹2,984.80 close on 4 November 2026. The last was a dividend of ₹3 a share, ex-date 11 September 2026. ### Shaily Engineering Plastics dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 11 Sep 2026 | ₹3 | Dividend |
| 19 Sep 2025 | ₹2 | Dividend |
| 13 Sep 2024 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 2 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Shaily Engineering Plastics Ltd paid out 8% of its profit as dividends in FY26, and it paid a dividend in 3 of its last 5 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Shaily Engineering Plastics management say on the latest results call? On the call for July to September 2026, held on 30 October 2026, Shaily Engineering Plastics' management guided: FY27 device output to exceed 36 million; second pen line begins qualification next week, with December sales possible if successful. > “I am not aware of any generic player in Canada that is not using our product.”
> Amit Sanghvi, on the call for July to September 2026

### What management guided

- FY28 device volume planned around 50 million, +/-15%; explicitly not formal guidance. - Consumer revenue expected flat in FY27; growth next year depends on geopolitics and global conditions. - Electronics scale-up: supplies for five new components between Q3-Q4; semiconductor commercial shipments in January to March 2027; initial consumer-electronics capital spending around ₹100 crore (₹80-120 crore)
- Healthcare pipeline: 1-2 innovator wins by end-CY27, revenue 3-4 years later; emergency clinical batches end-2027/earliest production end-CY28; Mira clinical batches 14 months after customer selection. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/426-30-Oct-2026.pdf). (From the call for July to September 2026, 30 October 2026.)

## What is the future of Shaily Engineering Plastics? What is changing in the business? What is changing at Shaily Engineering Plastics, from the latest results and calls: glp-1 delivery device scale-up & capacity ramp, abu dhabi global expansion & geographic diversification and high-precision diversification: semiconductor trays & consumer electronics. - GLP-1 Delivery Device Scale-Up & Capacity Ramp. Installed pen capacity is planned to reach approximately 75 million units by end-September 2026; FY27 deliveries are expected to exceed 36 million units. ⚠ estimate
- Abu Dhabi Global Expansion & Geographic Diversification. the latest call cited end-FY28 sales and 50-55% capacity commitments or indications. ⚠ estimate
- High-Precision Diversification: Semiconductor Trays & Consumer Electronics. Semiconductor-tray supply is planned for January to March 2027 and consumer-electronics commercial supplies began in January to March 2026. ⚠ estimate
- Healthcare Mix Expansion. Healthcare reached roughly 51% of April to June 2026 revenue, but the 30% Screener operating margin is near the historical margin peak and must be assessed through-cycle. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Shaily Engineering Plastics story? What are the risks? Sustained healthcare mix and pricing evidence that keeps consolidated operating margin materially above the 17% normalized level for several quarters, while the additional pen line reaches commercial operation by end-September 2026 without another capacity revision. ### Each change stops working if

- GLP-1 Delivery Device Scale-Up & Capacity Ramp: Supplier ramp or factory acceptance testing delays prevent commercial production, or customer supply-chain disruption limits deliveries. - Abu Dhabi Global Expansion & Geographic Diversification: Customer indications do not convert into contracts, government support does not materialize, or commissioning slips beyond FY28. - High-Precision Diversification: Semiconductor Trays & Consumer Electronics: Qualification, tooling, or customer absorption does not support commercial scale. - Healthcare Mix Expansion: Healthcare mix declines, freight and polymer costs cannot be mitigated, or consolidated operating margin moves toward its normalized range. ### The main risks

- Geopolitical Contract Loss & Geographic Concentration: An overlay records loss of a large GLP-1 pen contract after Operation Sindoor; Abu Dhabi is not expected to generate commercial sales until end FY28. ⚠ estimate
- Pen Capacity Line Commissioning & Efficiency Friction: The second 25 million pen line is planned for end-September 2026 after the first line previously ran at 45% OEE and 8% rejection. ✓ fact
- Management Consistency Track Record & Guidance Reliability: Seven documented consistency issues include device-volume miss, capacity-timing revisions, and a consumer-segment reversal. ✓ fact
- Consumer Discretionary Segment Demand Drag: Consumer revenue fell 9% in FY26 and 24% on a year earlier to ₹116 crore in April to June 2026 on softer European and US home-furnishings demand. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Shaily Engineering Plastics' next results? When Shaily Engineering Plastics reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: New pen-line qualification and commercial supply - check whether the ramp clears remaining bottlenecks. - What to check (from the call)
- New pen-line qualification and commercial supply - check whether the ramp clears remaining bottlenecks. - Consumer demand in Europe and the US - check whether home-furnishings orders stabilize against the flat-year outlook. - Electronics components and semiconductor packaging - verify customer qualification converts into commercial scale. - Subsidiary profitability - check whether pending customer confirmations convert into positive full-year operating profit and profit. ## Which stock lists is Shaily Engineering Plastics on? Shaily Engineering Plastics is on 2 of our India lists: Momentum stocks and Small & mid cap stocks. - [Momentum stocks Market cap cr: 13729.063032367972](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 443](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Shaily Engineering Plastics profitable? Shaily Engineering Plastics Ltd earned ₹61.0 Cr of net profit in the Sep 2026 quarter, +19.6% on the same quarter a year earlier. That is the 12th quarter in a row of profit growth. Full-year FY26 profit was ₹170 Cr. Over 4 years profit has grown 48.5% a year on average. That is 19.1% of the quarter's revenue. The same quarter a year earlier earned ₹51.0 Cr. For the full year, FY26 profit was ₹170 Cr (+82.8% on the year before). Why profit moved: revenue changed +24.5% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +30.6% and revenue +18.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY27-Q1. revenue ₹281 Cr and profit ₹48 Cr as reported. FY27-Q2. revenue ₹320 Cr and profit ₹61 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Shaily Engineering Plastics make, and is it growing? Shaily Engineering Plastics Ltd reported ₹320 Cr of revenue in the Sep 2026 quarter, +24.5% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 4 years it has grown 14.9% a year on average. The last full year, FY26, came in at ₹991 Cr. The last four reported quarters add to ₹1,088 Cr. FY26 revenue was ₹991 Cr, +25.9% on the year before. Recent pace: the last four quarters grew +18.3% on average, against 14.9% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +18.3%, against +24.7% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +27.4%, against +59.6% a year (rolling over). FY27-Q1. revenue ₹281 Cr and profit ₹48 Cr as reported. FY27-Q2. revenue ₹320 Cr and profit ₹61 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Shaily Engineering Plastics keep? Shaily Engineering Plastics Ltd's operating margin was 30.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 5 years it has been between 15.0% and 28.0%. The latest quarter is above every full year in that period. Why this happened. Healthcare mix supports the current margin profile. The deterministic normalization nevertheless puts current OPM at the 95th percentile and normalized OPM at 17%, so the durable-margin conclusion is unproven. Why the margin moved: operating margin changed −0.5 percentage points on the year while gross margin changed +1.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. FY27-Q1. revenue ₹281 Cr and profit ₹48 Cr as reported. FY27-Q2. revenue ₹320 Cr and profit ₹61 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Shaily Engineering Plastics' profit turning into cash? Over the last 3 years, 134% of Shaily Engineering Plastics Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹226 Cr of operating cash against ₹170 Cr of profit. After ₹179 Cr of spending on assets, ₹47.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 134% of profit came in as cash: the cash cycle got 43 days longer between FY22 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 2.7× depreciation over three years. The next section checks what that spending is building. ## Where does Shaily Engineering Plastics' cash go? Shaily Engineering Plastics Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 135 days in FY26, up from 92 days in FY22. It spent ₹341 Cr on assets over the last 3 years. Customers take 79 days to pay, and stock sits for 129 days on average. Why this happened. Healthcare device revenue expanded 85% YoY in Q1 FY27 to Rs 142 Cr. The additional 25 million pen line is planned for end-September 2026 and FY27 deliveries are expected to exceed 36 million, subject to partner and customer supply-chain continuity. At FY26 sales of ₹991 Cr, each day of that cycle ties up about ₹2.7 Cr, so roughly ₹367 Cr is tied up in the business at any time. FY26: customers took 79 days to pay and stock sat for 129 days, about 4.2 months of sales sitting as stock, for a full cycle of 135 days, longer than FY22's 92. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 129 days. Customers pay about 79 days after that. Suppliers are paid at 74 days. Together that makes the 135-day cycle. Spending on assets: ₹341 Cr over the last 3 years, against ₹127 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹29.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Shaily Engineering Plastics' P/E ratio, and how does it compare with its own history? Shaily Engineering Plastics Ltd's P/E is 73.4×, in the middle of its own history: higher than 53% of past readings. Its usual P/E (the middle reading) is 71.5×, over 4.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +82.5% while the price moved +20.7%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +105.1% a year; about +69.5% a year came from earnings growth and about +35.6 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Shaily Engineering Plastics business getting better or worse? Shaily Engineering Plastics Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +90.4% at its peak to +27.4%, but the business is still expanding, with ROCE steady at 33.3%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Shaily Engineering Plastics story, and has it been checked? Shaily Engineering Plastics Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: AT PEAK. Our read, 22 August 2026. From the numbers. That is the surface read. From the price. Price stage 2, week 27, above its 200-day line, relative strength falling. From the research. Where they disagree. That is the surface read. Earnings growth does not rebut the margin-normalization risk. What is proven. What is not proven yet. Sustained healthcare mix and pricing evidence that keeps consolidated OPM materially above the 17% normalized level for several quarters, while the additional pen line reaches commercial operation by end-September 2026 without another capacity revision. What would change our mind. Sustained healthcare mix and pricing evidence that keeps consolidated OPM materially above the 17% normalized level for several quarters, while the additional pen line reaches commercial operation by end-September 2026 without another capacity revision. The test written in advance. Sustained healthcare mix and pricing evidence that keeps consolidated OPM materially above the 17% normalized level for several quarters, while the additional pen line reaches commercial operation by end-September 2026 without another capacity revision. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Geopolitical Contract Loss & Geographic Concentration. Measured by: Geopolitical Contract Loss & Geographic Concentration Additional disclosed cancellations, deferred tenders, and Abu Dhabi contract-backing updates. by the next result. What the company does. Healthcare revenue expanded 85% YoY in Q1 FY27 to Rs 142 Cr, reaching roughly 51% of consolidated sales as pen-injector volumes scaled. Additional 25 million pen capacity is planned for end-September 2026, taking installed capacity to approximately 75 million pens annually; Abu Dhabi remains a FY28 capacity option. What the surface reading misses. The surface reading is: FY26 revenue increased 25.9% YoY. What the surface reading misses. The surface reading is: FY26 PAT increased 82.8% YoY. The research reads it further: PAT growth is a confirmed outcome, but the cycle engine warns that current earnings include peak-margin conditions. Lever 2 · Value-added mix: building. Healthcare mix supports the current margin profile. The deterministic normalization nevertheless puts current OPM at the 95th percentile and normalized OPM at 17%, so the durable-margin conclusion is unproven. What proves it keeps working: Healthcare Mix Expansion. It stops working if Healthcare mix declines, freight and polymer costs cannot be mitigated, or consolidated OPM moves toward its normalized range. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Shaily Engineering Plastics management deliver what it promised? What Shaily Engineering Plastics Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Pen Capacity Commercialization Delayed · 30 October 2026. Management first indicated in May 2026 that the additional 25 million capacity would come in by July or August and then reiterated in Aug 2026 that it would be operational by end-September. In Oct 2026, the same capacity was only entering qualification and commercial sales were expected in December, a material slip in a capacity milestone supporting the full-year device outlook that was not specifically explained. Emergency-Use Monetization Timeline Recast · 30 October 2026. In Aug 2026, management said the emergency-use program would be brought to closure by end-2027. In Oct 2026, it said end-2027 would only deliver clinical batches and that commercialization or start of production would probably wait until end of calendar 2028, materially pushing out the monetization timeline; management did not clarify whether the earlier closure milestone excluded commercial readiness. Canada Market Share Claim Is Unreconciled · 30 October 2026. Prior Call 2 (Aug 2026) described Shaily as covering 70% of the first six Canadian filers, while the Latest Call (Oct 2026) claimed 100% of current Canadian generic players. The latest call does not explain the change in denominator from filings to current players or otherwise bridge the two claims, creating material uncertainty for Canada market-share and volume assumptions. Pen Capacity Timing and Total Capacity Mismatch · 10 August 2026. The February 2026 call described the planned India expansion as taking total capacity to 80 million, while the May 2026 call indicated that the additional 25 million capacity would come in by July or August. The August 2026 call instead projects approximately 75 million of total installed pen injector capacity, with the additional capacity becoming operational only by the end of September; management explained the timing change through supplier ramp-up, but did not reconcile the lower total capacity figure. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Shaily Engineering Plastics earn on its capital? Shaily Engineering Plastics Ltd earned a ROCE of 29% in FY26. That is up from a low of 11% in FY23. Its return on capital used (ROIC) is 8.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 17.2% net margin and 0.86× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 17.2% net margin × 0.86× asset turnover × 1.60× leverage (assets divided by equity) ≈ 23.7% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 20.8% − 12.0% = +8.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 20.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 22.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Shaily Engineering Plastics have too much debt? Shaily Engineering Plastics Ltd has total debt of ₹180 Cr against shareholder equity of ₹835 Cr as of Sep 2026, so its debt is 0.22× its equity, which is very little. Year by year, that ratio went from 0.48 in FY22 to 0.25 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Shaily Engineering Plastics shareholding pattern? Foreign institutions raised their stake in Shaily Engineering Plastics Ltd by 16.3 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 19.4% of the company. Domestic institutions moved +3.8 points over the same period, to 16.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +16.3 points over 8 quarters, to 19.4%; Domestic institutions: +3.8 points over 8 quarters, to 16.1%; Promoters: −2.7 points over 8 quarters, to 41.1%. Why the owners changed: foreign institutions drove it (+16.3 points), together with domestic institutions (+3.8 points). They raised their stake step by step. ## How far is Shaily Engineering Plastics from balance-sheet trouble? For Shaily Engineering Plastics Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Shaily Engineering Plastics rank in its industry? 55.8 out of 100, rank 5 of 8 in Plastics - Plastic & Plastic Products, with 100% of the evidence available. Shaily Engineering Plastics Ltd scores 55.8 out of 100 against the 8 companies it is compared with in Plastics - Plastic & Plastic Products, ranking 5. A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. The four parts add up to the total exactly: 19.7 + 21.1 + 1 + 14 = 55.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Shaily Engineering Plastics compared with? Shaily Engineering Plastics ranks 5 of 8 Plastics - Plastic & Plastic Products companies on the 4-Factor Sector Score, with 55.8 out of 100. 1. [Mayur Uniquoters Ltd](https://www.sectoralpha.in/stocks/mayur-uniquoters-ltd) MAYURUNIQ · turning · Most evidence points up · 96% evidence 65.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.3/35 · Revenue 15.4% · Profit 34.4% · Operating margin change 2 points · 88% evidence Capital efficiency 16.3/25 · ROCE 24.5% · Operating margin 22% · 100% evidence Valuation 16.1/20 · P/E 15× · PEG 0.62 · 100% evidence Relative strength 6.4/20 · Lead over its industry -0.9% · Lead over NIFTY 500 17.3% · 1 year 31.2% · 100% evidence · 1 of 12 weeks ahead Exact sum: 26.3 + 16.3 + 16.1 + 6.4 = 65.1 · What this means: Earnings are strong; relative strength in its sector is -0.9% and the one-year return is 31.2%. 2. [Kingfa Science & Technology (India) Ltd](https://www.sectoralpha.in/stocks/kingfa-science-technology-indialtd) KINGFA · breaking out · Evidence leans up · 96% evidence 63.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.2/35 · Revenue 24.1% · Profit 46.1% · Operating margin change 3 points · 88% evidence Capital efficiency 16.1/25 · ROCE 23.2% · Operating margin 16% · 100% evidence Valuation 3.6/20 · P/E 40.7× · PEG 3.29 · 100% evidence Relative strength 20.0/20 · Lead over its industry 20.1% · Lead over NIFTY 500 42.4% · 1 year 46.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.2 + 16.1 + 3.6 + 20 = 63.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Nilkamal Ltd](https://www.sectoralpha.in/stocks/nilkamal-ltd) NILKAMAL · leader · Evidence leans up · 100% evidence 63.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.9/35 · Revenue 7.6% · Profit 51.4% · Operating margin change 3 points · 100% evidence Capital efficiency 8.3/25 · ROCE 10.6% · Operating margin 12% · 100% evidence Valuation 12.9/20 · P/E 17.2× · PEG 0.7 · 100% evidence Relative strength 17.6/20 · Lead over its industry 14.6% · Lead over NIFTY 500 36.4% · 1 year 28.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.9 + 8.3 + 12.9 + 17.6 = 63.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Arrow Greentech Ltd](https://www.sectoralpha.in/stocks/arrow-greentech-ltd) ARROWGREEN · losing its lead · Evidence leans up · 96% evidence 60.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.6/35 · Revenue 12.8% · Profit 16.7% · Operating margin change 7 points · 88% evidence Capital efficiency 18.7/25 · ROCE 29.6% · Operating margin 41% · 100% evidence Valuation 15.4/20 · P/E 16.4× · PEG 0.45 · 100% evidence Relative strength 10.7/20 · Lead over its industry 5.4% · Lead over NIFTY 500 23.7% · 1 year 13% · 100% evidence · 10 of 12 weeks ahead Exact sum: 15.6 + 18.7 + 15.4 + 10.7 = 60.4 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 5. Shaily Engineering Plastics Ltd this page SHAILY · leader · Evidence leans up · 100% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.7/35 · Revenue 18.3% · Profit 27.4% · Operating margin change -1 points · 100% evidence Capital efficiency 21.1/25 · ROCE 29.3% · Operating margin 30% · 100% evidence Valuation 1.0/20 · P/E 78× · PEG 4.29 · 100% evidence Relative strength 14.0/20 · Lead over its industry 6.9% · Lead over NIFTY 500 26.6% · 1 year 39.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 19.7 + 21.1 + 1 + 14 = 55.8 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 6. [Plastiblends India Ltd](https://www.sectoralpha.in/stocks/plastiblends-india-ltd) PLASTIBLEN · quiet · Evidence leans up · 100% evidence 51.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 9.3% · Profit 39.4% · Operating margin change 1 points · 100% evidence Capital efficiency 6.5/25 · ROCE 10.7% · Operating margin 7% · 100% evidence Valuation 20.0/20 · P/E 9× · PEG 0.34 · 100% evidence Relative strength 1.7/20 · Lead over its industry -16.7% · Lead over NIFTY 500 -0.6% · 1 year -11.6% · 100% evidence · 9 of 12 weeks ahead Exact sum: 22.9 + 6.5 + 20 + 1.7 = 51.1 · What this means: Earnings are strong; relative strength in its sector is -16.7% and the one-year return is -11.6%. 7. [DDev Plastiks Industries Ltd](https://www.sectoralpha.in/stocks/ddev-plastiks-industries-ltd) DDEVPLSTIK · basing · Evidence leans up · 81% evidence 51.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 15.3% · Profit 9.2% · Operating margin change 0 points · 88% evidence Capital efficiency 15.8/25 · ROCE 31% · Operating margin 9% · 100% evidence Valuation 13.2/20 · P/E 11.7× · PEG 1.72 · 100% evidence Relative strength 8.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -4.5% · 1 year -19.5% · 25% evidence · 4 of 12 weeks ahead Exact sum: 13.9 + 15.8 + 13.2 + 8.1 = 51 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Responsive Industries Ltd](https://www.sectoralpha.in/stocks/responsive-industries-ltd) RESPONIND · basing · Most evidence points down · 78% evidence 21.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 0.9/35 · Revenue -18.7% · Profit -73.3% · Operating margin change -9.9 points · 100% evidence Capital efficiency 7.5/25 · ROCE 10.8% · Operating margin 14.5% · 100% evidence Valuation 5.1/20 · P/E 70.2× · PEG 3.05 · 65% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -12.5% · 1 year -26.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 0.9 + 7.5 + 5.1 + 7.5 = 21 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Plastics - Plastic & Plastic Products](https://www.sectoralpha.in/sectors/plastics-plastic-plastic-products), all 8 compared on one page. ## Which companies are close to Shaily Engineering Plastics in size? Shaily Engineering Plastics is the largest of 8 Plastics - Plastic & Plastic Products companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Kingfa Science & Technology (India), Responsive Industries, Mayur Uniquoters, Nilkamal, DDev Plastiks Industries and Arrow Greentech. ### Plastics - Plastic & Plastic Products companies close in size

1. Shaily Engineering Plastics Ltd ₹14,580 crore
2. [Kingfa Science & Technology (India) Ltd](https://www.sectoralpha.in/stocks/kingfa-science-technology-indialtd) ₹9,192 crore
3. [Responsive Industries Ltd](https://www.sectoralpha.in/stocks/responsive-industries-ltd) ₹3,864 crore
4. [Mayur Uniquoters Ltd](https://www.sectoralpha.in/stocks/mayur-uniquoters-ltd) ₹3,109 crore
5. [Nilkamal Ltd](https://www.sectoralpha.in/stocks/nilkamal-ltd) ₹2,907 crore
6. [DDev Plastiks Industries Ltd](https://www.sectoralpha.in/stocks/ddev-plastiks-industries-ltd) ₹2,507 crore
7. [Arrow Greentech Ltd](https://www.sectoralpha.in/stocks/arrow-greentech-ltd) ₹1,050 crore

[All 8 Plastics - Plastic & Plastic Products companies, largest first](https://www.sectoralpha.in/sectors/plastics-plastic-plastic-products#all-companies)

### Companies close in size in other industries

1. [Clean Max Enviro Energy Solutions Ltd](https://www.sectoralpha.in/stocks/clean-max-enviro-energy-solutions-ltd) ₹14,612 crore · Power Generation & Supply
2. [Jindal Saw Ltd](https://www.sectoralpha.in/stocks/jindal-saw-ltd) ₹14,584 crore · DI Pipes/Saw Pipes
3. Shaily Engineering Plastics Ltd ₹14,580 crore
4. [KPIT Technologies Ltd](https://www.sectoralpha.in/stocks/kpit-technologies-ltd) ₹14,536 crore · IT - ER&D
5. [South Indian Bank Ltd](https://www.sectoralpha.in/stocks/south-indian-bank-ltd) ₹14,536 crore · Banks - Private

## What else do people ask about Shaily Engineering Plastics? ### What is Shaily Engineering Plastics's share price today? Shaily Engineering Plastics Ltd's share price is ₹2,984.80, +20.7% over the past year. The whole company is worth ₹13,728 Cr on the market. In the last 52 weeks it traded between ₹1,885 to ₹3,368; today it is 74% of the way up from the low, 7.5% above its 200-day average (as of 4 November 2026). ### What were Shaily Engineering Plastics's latest quarterly results? Shaily Engineering Plastics Ltd reported revenue of ₹320 Cr and net profit of ₹61.0 Cr for the Sep 2026 quarter. Revenue rose 24.5% and profit rose 19.6% compared with a year earlier. Earnings per share were ₹13.32. The operating margin was 30.0%, 1.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is Shaily Engineering Plastics's market cap? Shaily Engineering Plastics Ltd's market capitalisation is ₹13,728 Cr at a share price of ₹2,984.80. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Shaily Engineering Plastics performing? Shaily Engineering Plastics Ltd's share price has been rising for 27 weeks. In its latest quarter, revenue rose 24.5% and profit rose 19.6% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 1 week running (as of 4 November 2026). ### Will Shaily Engineering Plastics's share price go up? This page does not forecast Shaily Engineering Plastics Ltd's share price. What it shows instead: the share price is ₹2,984.80, and it has been rising for 27 weeks. Its P/E of 73.4× is higher than 53% of its own last 4 years (as of 4 November 2026). ### Who owns Shaily Engineering Plastics? Promoters own 41.1% of Shaily Engineering Plastics Ltd, foreign institutions 19.4%, domestic institutions 16.1% and the public 23.3% (latest quarter). The biggest change over the last two years: Foreign institutions raised their stake by 16.3 percentage points over 8 quarters (as of 4 November 2026). ### Does Shaily Engineering Plastics have too much debt? No, Shaily Engineering Plastics Ltd has little debt: its debt is 0.25× its equity, and its operating profit is 18 times its interest bill. FY26 borrowings were ₹177 Cr against equity of ₹716 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is Shaily Engineering Plastics in its business cycle? Shaily Engineering Plastics Ltd's FY26 operating margin was 28.0%, against a 5-year range of 15.0% to 28.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 30.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Shaily Engineering Plastics story? The main question: yearly earnings per share moved +82.5% while the share price moved +20.7%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Shaily Engineering Plastics a stock worth studying right now? What the numbers show: Shaily Engineering Plastics Ltd's earnings have grown faster than its share price. Earnings per share grew +82.5% in a year while the price moved +20.7%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Shaily Engineering Plastics share price forecast for 2026? What management itself guided: FY27 device output to exceed 36 million; second pen line begins qualification next week, with December sales possible if successful. What is changing at Shaily Engineering Plastics, from the latest results and calls: glp-1 delivery device scale-up & capacity ramp, abu dhabi global expansion & geographic diversification and high-precision diversification: semiconductor trays & consumer electronics. What would change the story: Sustained healthcare mix and pricing evidence that keeps consolidated operating margin materially above the 17% normalized level for several quarters, while the additional pen line reaches commercial operation by end-September 2026 without another capacity revision. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

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