Shaily Engineering Plastics Ltd. share price target and research reports

Name: Latest research reports of Shaily Engineering Plastics Ltd. authored by Prabhudas Lilladhar and published by - Trendlyne research reports.
Item: Shaily Engineering Plastics Ltd.
Rating: 4
Author: Prabhudas Lilladhar

Latest analyst research reports with target prices and PDF download for SHAILY, BSE:501423 Shaily Engineering Plastics Ltd.

Shaily Engineering Plastics Ltd.

10 Aug 2020, 12:00AM

2498.80

-1.00%

Q1FY21 Result update - Likely rerating as Pharma gains traction - ACCUMULATE

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Prabhudas Lilladhar

Management expects recovery from H2FY21 supported by macro tailwinds along with margin expansion on back of better product mix and operational efficiency. FY21 will see the start of contribution from CSF, CRC and toys and will be further ramped up in FY22. Further FY22 will also witness revenues from medical devices and auto contracts. We maintain our forecasts of revenue/ EBITDA/PAT CAGR (FY20-22) of 19.6%/19.1%/25.2% to Rs 4805m/Rs 824m/ Rs370m in FY22E. Going ahead, healthcare will be an area of focus and likely to see 2-3x growth in next 3-5 years (based on ongoing discussions and orders in hand) making it the second highest revenue contributor after HF (~55%). We feel this...

Shaily Engineering has gained 39.59% in the last 6 Months

Shaily Engineering Plastics Ltd.

10 Aug 2020, 12:00AM

2498.80

-1.00%

Q1FY21 Result update - Likely rerating as Pharma gains traction - ACCUMULATE

Accumulate: Shaily Engineering Plastic...

Prabhudas Lilladhar

Shaily Engineering Plastics Ltd. is trading below its 30 day SMA of 2518.7

Shaily Engineering Plastics Ltd.

04 Feb 2020

2498.80

-1.00%

Q3FY20 Result Update

Hold: Shaily Engineering Plastic...

Prabhudas Lilladhar

During Q3, trial batches of 4 medical pens were submitted to customers. 8 other pens are also under development and will be submitted from Q1-Q3FY21E. All 12 pens are to be commercialized in FY21E. Pharma revenues grew by 65% in FY20. In toys, SHEP has made initial shipments to Spin Master' (ramp up by Q1FY21E) and is looking to add one more client during Q4. Carbon steel facility (CSF) is slated to begin supplies in Q4FY20. In FY21E it can generate revenues of Rs 600m and peak revenues of Rs 1.3bn in FY22E. SHEP lost substantial revenues of Rs 265m during 9MFY20 on account of labor...

Shaily Engineering has gained 39.59% in the last 6 Months

Shaily Engineering Plastics Ltd.

04 Feb 2020

2498.80

-1.00%

Q3FY20 Result Update

Hold: Shaily Engineering Plastic...

Prabhudas Lilladhar

Shaily Engineering has gained 84.35% in the last 1 Year

Shaily Engineering Plastics Ltd.

15 Nov 2019

2498.80

-1.00%

Q2FY20 Result Update

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Target

Prabhudas Lilladhar

During Q2FY20 SHEP received new business confirmations for bottle caps from a Japanese company and for supply of rods to an automotive customer. Supplies for both will start after 6-8 months. They are also in negotiation with a large MNC in the personal care segment. Polymer volumes grew 10.8% QoQ. The CSF project and toy supplies will begin in Q4FY20. Due to the extended monsoon, labour issues and slowdown in the SHF business we have revised our revenue/EBITDA estimates downwards by 5.5%/7.2% to Rs 3789m/Rs 637m respectively in FY20E. In order to achieve...

Shaily Engineering Plastics Ltd.'s price crossed below 30Day SMA today

Shaily Engineering Plastics Ltd.

15 Nov 2019

2498.80

-1.00%

Q2FY20 Result Update

Accumulate: Shaily Engineering Plastic...

Target

Prabhudas Lilladhar

Shaily Engineering has gained 39.59% in the last 6 Months

Shaily Engineering Plastics Ltd.

09 Aug 2019

2498.80

-1.00%

Q1FY20 Result Update

Accumulate: Shaily Engineering Plastic...

Prabhudas Lilladhar

During the quarter SHEP forayed in to the toy segment and has received business confirmation for it. The company also received confirmation for 1 new drug delivery device. Machine utilization stood at 58.7%. Polymer volumes grew 3% QoQ but were down 14% YoY due to slowdown in SHF business as well as auto segment. There has been a slight delay in the CSF project due to the rains in Baroda and will hence commence by February 2020. Revenues from toys and pen injectors will also begin during Q4FY20. Based on current orders and business confirmations, we expect Revenues/...

Shaily Engineering Plastics Ltd. is trading below its 30 day SMA of 2518.7

Shaily Engineering Plastics Ltd.

27 May 2019

2498.80

-1.00%

Q4FY19 Result Update

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Target

Prabhudas Lilladhar

Shaily Engineering Plastics SHF plays spoilt sport again Shaily Engineering Plastics (SHEP) reported weak FY19 results. Revenues grew 6.3% to Rs3,383m, EBITDA was flat at Rs526m and PAT fell 19.0% to Rs193m. Volume growth was flat and lower than expected at 13,258 MT as production faced concerns on account of labor and power issues in H1FY19, followed by slowdown in SHF client orders due to change in their inventory policy. FY19 revenues were lower by Rs800m due to 1) slow off-take from Swedish House Furnishing Retailer (SHF) due to change in its inventory policy, 2) delay in other project...

Shaily Engineering Plastics Ltd. is trading below its 30 day SMA of 2518.7

Shaily Engineering Plastics Ltd.

06 Mar 2019

2498.80

-1.00%

Management Meet Update All is Well

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Prabhudas Lilladhar

We met the management of Shaily Engineering Plastics (SHEP) to better understand their growth prospects due to change in inventory policy of the Swedish Home Furnishing Retailer (SHF). Based on our discussion, we have understood that this is a one-time change and while ordering in the immediate quarter will surely see a slowdown, revenues from this client are likely to bounce back from Q3FY20 led by commissioning of the new carbon steel plant, opening of their Mumbai store and launch of their online sales portal. Pharma and Automotive are likely to be the key growth drivers going ahead. Pharma is expected to witness the highest percentage growth in sales over the next 3-4 years on back...