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Shaily Engineering Plastics shares gain 4% after bagging ₹423 crore pen injector contractThe contract is to supply pen injectors for over four years, Shaily Engineering said in an exchange filing on Wednesday.By Shloka Badkar  February 26, 2026, 9:23:43 AM IST (Updated)2 Min ReadShares of Shaily Engineering Plastics Ltd. gained 4% on Thursday, February 26, after the company signed a ₹423 crore manufacturing and commercial supply contract with a large domestic pharma company.

The contract is to supply pen injectors for over four years, the company said in an exchange filing on Wednesday.

Shaily Engineering, while announcing its quarterly results, also said it is planning to set up a medical devices manufacturing unit in Abu Dhabi with an investment of AED (United Arab Emirates Dirham) 130-150 million. The facility is set to have an annual capacity of 75 million pen injectors and it is expected to become operational by the end of the financial year 2028.

The company's management last year had said it planned to double the firm's pen capacity over the next couple of years. It also earmarked a ₹125 crore capex plan to enhance its pen manufacturing capacity to 100 million pens by December 2026 from 40 million.

Recently, the company also announced the appointment of Joe Kam as the chief operating officer (healthcare), effective March 1, 2026.

Prior to this, Kam held senior leadership roles at SHL Medical and most recently served as the senior manufacturing director responsible for nine manufacturing facilities across the US and Taiwan. He also worked as plant manager and senior project manager at Flextronics.

Shares of Shaily Engineering Plastics were up 4.1% at ₹2,020.20 apiece at 9.20 am on Thursday. The stock has risen 10% in the past year and 36.2% in the past year.

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