Independent Research Analyst

Mamta Verma

DC India Research

DC India Research LLP (DCIR) is based out of Mumbai, India.

We specialize in providing customized, independent research across listed and unlisted companies in India across equities and credit including sectoral research. Our customers include India focussed PE funds, special situation funds, domestic AMCs, Wealth Advisory& PMS firms, Rating Agencies & Investment Advisors. 

The DCIR board consists of prominent names from the industry as well as CIO’s of Hedge funds.

Equity Bottom-Up

Shaily Engineering Plastics / Equity Bottom-Up

<p>This is further to our note sent on <a href="https://www.smartkarma.com/entities/8567" target="_blank" data-smartkarma-citation="entities:8567:1">Shaily Engineering Plastics (SHEP IN)</a>. The company announced their FY18 results yesterday and hosted the earnings call today morning.</p><p>We share in this note the con-call highlights and our base case estimates and valuations for a "BUY" recommendation on the stock. Also attached is a detailed earnings presentation.</p><table class="table table-striped"><tbody>
<tr>
<td>(Rs. Mn.)</td>
<td>FY17</td>
<td>FY18</td>
</tr>
<tr>
<td> Net Sales </td>
<td>         2,459</td>
<td>         3,182</td>
</tr>
<tr>
<td>YoY</td>
<td> </td>
<td>29.40%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td> RM </td>
<td>         1,511</td>
<td>         1,988</td>
</tr>
<tr>
<td>as % NS</td>
<td>61.4%</td>
<td>62.5%</td>
</tr>
<tr>
<td>YoY</td>
<td> </td>
<td>31.6%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td> Employee Exp </td>
<td>       </td>
</tr>
</tbody></table>…

This is further to our note sent on Shaily Engineering Plastics (SHEP IN). The company announced their FY18 results yesterday and hosted the earnings call today morning.We share in this note the con-call highlights and our base case estimates and valuations for a "BUY" recommendation on the stock. Also attached is a detailed earnings presentation.

(Rs. Mn.)
FY17
FY18


 Net Sales 
         2,459
         3,182


YoY
 
29.40%


 
 
 


 RM 
         1,511
         1,988


as % NS
61.4%
62.5%


YoY
 
31.6%


 
 
 


 Employee Exp 
       

…

Shaily Engg - Strong Fy18 Perf, with Positive Commentary - Reco "BUY"

<p><span><strong>1. Business &amp; Ownership -</strong></span></p><p><a href="https://www.smartkarma.com/entities/8567" target="_blank" data-smartkarma-citation="entities:8567:1">Shaily Engineering Plastics (SHEP IN)</a>, established in 1987 is engaged in the manufacturing of precision components with high performance engineering polymers. Exports a/c for ~75% of its topline. It conducts its business across 6 segments - 1. Home Furnishing, 2. Automotive, 3. Home Personal &amp; Beauty Care, 4. Appliances &amp; Lighting, 5. Medical Devices and 6. Pharma Packaging. (revenue mix segment-wise is not shared by the company).</p><p>The Home Furnishing segment is the…</p>

1. Business &amp; Ownership -Shaily Engineering Plastics (SHEP IN), established in 1987 is engaged in the manufacturing of precision components with high performance engineering polymers. Exports a/c for ~75% of its topline. It conducts its business across 6 segments - 1. Home Furnishing, 2. Automotive, 3. Home Personal &amp; Beauty Care, 4. Appliances &amp; Lighting, 5. Medical Devices and 6. Pharma Packaging. (revenue mix segment-wise is not shared by the company).The Home Furnishing segment is the…

Shaily Engg - Strong Earnings Visib, Healthy BS, Improved Asset Sweating to Drive RoCE and Val

India

Shaily Engineering Plastics Limited manufactures precision injection molded plastic components, sub-assembles, molds, and dies for various orignal equipment manufacturers.

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Shaily Engineering Plastics (SHEP IN)

Shaily Engg - Strong Fy18 Perf, with Positive Commentary - Reco "BUY"

This is further to our note sent on Shaily Engineering Plastics (SHEP IN). The company announced their FY18 results yesterday and hosted the...

DC India Research

Shaily Engg - Strong Earnings Visib, Healthy BS, Improved Asset Sweating to Drive RoCE and Val

1. Business & Ownership -Shaily Engineering Plastics (SHEP IN), established in 1987 is engaged in the manufacturing of precision components...

DC India Research

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