Hold Shaily Engineering Plastics; target of Rs 1810: ICICI Direct

ICICI Direct's research report on Shaily Engineering Plastics

Shaily Engineering is into manufacturing high precision injection moulded plastic components and finished goods in home furnishing, healthcare, toys, personal care and automotive components. Export revenue contributed ~78% to the topline in H1FY23 while the rest came from the domestic business for Shaily • The company’s biggest clients include a Swedish furnishing major, which contributes ~55% to the topline.

Outlook

We maintain our HOLD rating on the stock. We value Shaily at Rs 1810 i.e. 25x on FY24E EPS.