Shaily Engineering Plastics Ltd., a stock significantly backed by veteran Dalal Street investor Ashish Kacholia, has captured renewed attention from brokerage firms. This comes after the stock delivered an extraordinary 65-fold return to investors over the past six years, with analysts now projecting further upside potential.
On Thursday, May 14, 2026, Shaily Engineering shares hit a new 52-week high, trading at Rs 2,838.60 and commanding a market capitalization close to Rs 13,000 crore. The stock has seen a rapid ascent, gaining 53.5 percent from Rs 1,850 levels recorded in April 2026 alone. Over a six-year period, since its value was approximately Rs 44 in May 2020, the counter has soared by an astounding 6,450 percent.
Brokerages See Strong Growth Drivers
Ventura Securities initiated coverage on Shaily Engineering with a 'buy' rating and a target price of Rs 3,620. The brokerage highlighted the company's robust multi-segment platform, which effectively balances high-growth potential with earnings stability. Shaily Engineering operates across three primary verticals: Healthcare, Consumer, and Industrial. Its healthcare division, specializing in high-precision drug delivery systems, is identified as a key driver for high growth and margins.
Ventura's report underscored the company's long-term growth positioning, supported by its multi-product platform and 20 ongoing programs in biologics, including GLP-1 and biosimilars. Biologic drugs currently constitute about 30 percent of global pharmaceutical sales, with most requiring subcutaneous injection delivery. The global biosimilars market is projected to reach approximately $144 billion by 2031, while the global pen injector market is expected to grow to $74 billion by 2030. The upcoming GLP-1 patent cliff, beginning with semaglutide in 2026, further positions Shaily Engineering favorably.
Strategic Positioning in Healthcare Manufacturing
Echoing this positive sentiment, B&K Securities also issued a 'buy' recommendation with a target price of Rs 3,550. The firm noted that Shaily Engineering manufactures precision injection moulded plastic components for healthcare (e.g., pen injectors, autoinjectors), consumer, and industrial sectors. Over 71 percent of its revenue is export-driven, serving Fortune 100 clients across 40 countries from its seven manufacturing facilities in Gujarat, India.
B&K Securities believes the company is transitioning into a structurally stronger business with improved earnings visibility as its healthcare segment expands. The premium valuation is justified by its participation in the long-duration GLP-1 opportunity, strong client retention due to regulatory-linked relationships, and an increasing share of IP-led revenues. The brokerage projects a compounded annual growth rate (CAGR) for FY25–28E of 27 percent for revenue, 46 percent for EBITDA, and 57 percent for profit, driven by rapid healthcare scale-up, an optimized business mix, and margin expansion from its IP-led drug delivery devices platform.
Ashish Kacholia's Significant Stake
As of March 31, 2026, seasoned investor Ashish Kacholia and his affiliate Suryavanshi Commotrade collectively held 23,93,680 equity shares, representing a 5.21 percent stake in Shaily Engineering Plastics Ltd. This stake was valued at approximately Rs 679.50 crore on Thursday, making it Kacholia's largest holding by value among his portfolio of over 50 stocks.