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Shaily Engineering Plastics Ltd.

BSE: 501423 Sector: Industrials
NSE: N.A. ISIN Code: INE151G01010
BSE 00:00 | 30 Jul 1696.55 24.60
(1.47%)
OPEN

1625.00

HIGH

1750.00

LOW

1615.00

NSE 05:30 | 01 Jan Shaily Engineering Plastics Ltd
OPEN 1625.00
PREVIOUS CLOSE 1671.95
VOLUME 1157
52-Week high 1759.00
52-Week low 416.55
P/E 64.09
Mkt Cap.(Rs cr) 1,412
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1625.00
CLOSE 1671.95
VOLUME 1157
52-Week high 1759.00
52-Week low 416.55
P/E 64.09
Mkt Cap.(Rs cr) 1,412
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Shaily Engineering Plastics Ltd. (SHAILYENGINEER) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me immense pride presenting our 40th Annual Report to you. Ourpersistent focus on strategies and an effective implementation of a turnaround plan hashelped us stay right on course. Our consistent performance over the years is empowered bya strong team of employees exceptional innovation capabilities and an undeterred supportof our customers and we thank them all with sincerity. The year 2019-20 was a challengingone to say the least. A slowdown in the global and Indian economy was already impactingvarious sectors when the Covid-19 pandemic made an unexpected appearance. The outbreak'simpact only became perceptible from March 2020. Despite a difficult economic scenario anda situation aggravated almost beyond measure by the unprecedented Covid-19 pandemic ouroverall performance showed good improvement. We work relentlessly to offer innovativeproducts that deliver enhanced value to a wide range of customers. Thus touching andenriching millions of lives with our products.

The year 2019-20 saw us reinforcing our strong foundation for healthy future. Weregistered a revenue of _ 337 Cr in the current year a dip of 0.7% from the previousyear. We have added new SKUs in Home Furnishing segment and drug delivery devices. A 8.6%increase in EBITDA was recorded from _ 54.4 Cr in FY 2018-19 to _ 59.1 Cr in FY 2019-20PAT increased by 22% Y-o-Y from _19.3 Cr in FY 2018-19 to _ 23.6 Cr in FY 2019-20.

Our order confirmation from our existing customer a Swedish Home Furnishings Majorfor manufacturing and supplying Steel Furniture products presented itself as anopportunity to move along our commitment of growth. Hence we diversified by building newcapabilities and are ready to enter the Steel Furniture segment. The manufacturing for theorder received is expected to commence in FY 2020-21 at our new Halol Complex.Additionally we also forayed into the Toy segment one of the fastest growing categorieswith immense prospects. Our first order was received from one of the world's leadingglobal toy companies. This in turn will enable us to grab the opportunities in theindustry and further strengthen order book.

Our efforts towards developing IP & our own pen injector platforms over the last 24months are finally paying off. Apart from insulins we have also created for ourselves aunique advantage that enables Shaily's Pen Injectors to be a leading choice for GLP-1molecules. Our key partners for device development in the UK & Taiwan continue tobuild upon their capabilities to ensure that they are able to aid Shaily in the successful& sustainable development of next generation platforms. We have a total of four (4)pen injector platforms for various molecules today and are working towards developing anauto injector.

Targeted investments and innovations are helping us improve as we enrich lives throughplastics. We always strive to offer our customers end-to-end solutions in plastics. Thusenabling them to develop products that provide the best combination of form functionquality and a_ordability. We aim to give the best value for money driving us to providebetter and more efficient products in the world of tomorrow. Through our innovationprogram we don't just focus on improving but also develop new processes and solutions.

We believe that our human capital and diversity of talent is a key differentiator. Wecontinuously upgrade our policies practices and processes to attract and retain the besttalent from the industry ensuring cordial working environment. Despite our strong footingand multiple opportunities in the horizon uncertainty and unforeseen challenges alwaysloom over a business environment. Our unique combination of a robust balance sheetpersistent focus on quality and compliance along with a proactive approach createsmaximum value for all stakeholders. This proposition works in tandem with our strongvalue-driven culture despite challenges.

We are grateful for the support we receive from all the parties we partner in buildinga company with prospects for a healthy future. I would like to express my sincereappreciation for employees at all levels for their perseverance and unparalleledcontribution towards the Company's performance. I would also like to extend my gratitudeto our customers stakeholders bankers and suppliers for their continued loyalty andtrust in us. We at Shaily are excited about the untapped opportunities the potentialfor growth and the prospective value creation for our stakeholders and thrilled for allthe unrealised instances that lie ahead for us to enrich lives through our products.

With warm regards
Amit Sanghvi