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HomeMarket NewsShaily Engineering Plastics shares fall nearly 13% on Thursday; Here's why
As per Shaily Engineering's annual report for financial year 2025, Dr. Reddy's is listed among the top clients for the company within the pharmaceutical sector.
Shares of Shaily Engineering Plastics Ltd. fell as much as 13% in Thursday's trading session before seeing some buying interest emerge at lower levels. At the lowest point of the session, this was the worst single-day fall for the stock since May 2022.
The stock has declined in response to the news surrounding Dr. Reddy's Laboratories, which informed the exchanges of a delay to the approval for its Semaglutide injection in the Canadian market. As per Shaily Engineering's annual report for financial year 2025, Dr. Reddy's is listed among the top clients for the company within the pharmaceutical sector.
During the first quarter earnings call, the management of Shaily Engineering had highlighted that the contribution of the healthcare segment to the overall revenue mix has doubled to 31%. In response to increased customer demand, the company installed capacity of 19 injection moulding machines, along with an assembly and printing line to add an additional capacity of 25 million pens per annum.
Additionally, the company was also planning to add an additional line of 25 million pens for one of the other variants of its Semaglutide pen. It had planned a total capex of ₹125 crore for the full financial year and the expansion is slated to be complete by the end of this year and the beginning of next.
"I think we have 60% of generic market share on Semaglutide across the markets that are opening up," Amit Sanghvi, Shaily Engineering's Managing Director had said during the previous earnings call.
Shares of Dr. Reddy's Laboratories also declined as much as 5% on Thursday, in response to the drug delay.
Shaily Engineering is involved in the manufacturing of value added products and secondary operations such as pad printing, hot stamping, painting, screen printing, ultrasonic welding, laser marking, PVD coating and vacuum metallizing.
Shares of Shaily Engineering Plastics are down 6.8% currently at ₹2,381. The stock has had a good 2025 so far, with gains of over 65%, inclusive of today's fall.
