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ICICI Direct Report
We met the management of Shaily Engineering Plastics Ltd. to get an insight into its business and future plans. Shaily is into manufacturing high precision injection moulded plastic components and finished goods in home furnishing, healthcare, toys, personal care and automotive components.
Shaily’s topline is driven by its home furnishings segment. The company has gained wallet share through launching multiple products for Swedish Furniture Major in the last two years.
Shaily’s home furnishing segment revenues are likely to grow at a compound annual growth rate of ~15-18% over FY22-24E supported by new launches.
Healthcare is the second largest contributor to Shaily’s topline. The company has acquired intellectual property rights for its insulin pen devices. The product has been well received by major Indian pharma companies.
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