Q3 2024 Shaily Engineering Plastics Ltd Earnings Call Transcript
Key Points
- Shaily Engineering Plastics Ltd (BOM:501423) reported a robust top-line growth of 15% to INR158 crores on a consolidated basis for Q3 FY24.
- The company improved its gross margins to 43.9% and EBITDA margins to 20.8% for the quarter.
- The Healthcare division signed four additional contracts for the development and supply of Pen injectors with large pharma companies.
- Exports during nine months FY24 stood at 74.2% of total revenue, indicating strong international demand.
- The company has a healthy pipeline for Teriparatide and GLP-1, with significant revenue contributions expected from devices where it owns the IP over the next 24 to 36 months.
- Machine utilization rate was relatively low at 38% in Q3 FY24 and 40% in nine months FY24.
- Revenue for nine months FY24 remained flat at INR473.3 crores compared to INR472.6 crores during nine months FY23.
- The company faces challenges in the macro environment, including issues with shipping containers and rising freight costs.
- The toy business is not being actively pursued due to lack of customer stickiness and sustainability concerns.
- The company has put a temporary hold on hiring a CEO after two unsuccessful attempts, which could impact leadership and strategic direction.
Ladies and gentlemen, good day, and welcome to Shaily Engineering Plastics Limited Q3 and FY24 earnings conference call. This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of the future performance and involve risks and uncertainties that are difficult to predict.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Amit Sanghvi. Thank you, and over to you, sir.
Thank you very much. Good evening, and a very warm welcome to all the participants to the post results earnings call of Shaily Engineering Plastics. I have with me Mr. Sanjay Shah, our Chief Strategy Officer and CFO, and SGA, our Investor Relations advisers.
I hope you've had a look at our investor presentation that is uploaded on our website and the stock exchange.
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