@csatishk
I can understand your concerns. let me try to explain within my limited knowledge,
Shaily is 3 decade old company established in 1987 promoted by Mike Sanghvi, a well known reputed person in plastic Industry for more than 35 years rich experience in this field. When we look at back their financial and other details we can understand that they are growing step by step from 2 molding machine to current level. So shaily is not a new company or growth is not all of sudden happened by yesterday but it is a gradual growth by years of hardwork and experience.
Lets come to stock price. It was in illiquid mode for long time, just few shares trading here and there with such a low volume, main reason for that most of the shares were cornered by promoters with hardly 250 public share holders and for that reason stock was not in Investors radar. But Scenario changed once promoters decided to allocate 10% preferential share to prominent Investor Ashish Kacholia at the rate of 250 Rs/Share. Re rating started from that point, as you said stock was moved from 60 to 250 Rs without giving much opportunity to buy any one till reach to 250 Rs. On that point we can understand that promoters desire to unlock the real value of the company. Since then they are trying to increase the liquidity. Motika sold their holding to some other prominent Investors and few shares to public. Public share holder nos increased from 250 to 1500 nos. I believe all it is happens only when management got utmost confidence in their strength and future performance.
Your next worry is
"One more thing which stood out was that the quality of investor communication was good for a company of that size".
Why don’t you consider it as a positive move? Because of B2B sector company was unknown to public till last year. Now they decide to unlock the value hence It is their duty to inform their strength and future growth plans to public. I cannot see anything wrong on that. For instance they were mentioned one of their potential area in automobile sector which they are supplying to Honeywell. that is converted steel rod to plastic rod. I tried to google it find more details, what is this plastic rod where it is using what is the market etc. but unfortunately I didnt get much. Finally got the detailed information from their last concall transcript. Shaily is the only one supplier of these kind plastic rod to worldwide. And most of the automobile companies are now looking to convert in plast rod.
Next is concentration risk.
I could not like to say Shaily is a concentrated company. Please look at their strength in Medical, Automobile, and Electrical product. Surely at the moment IKEA business providing 50% of the revenue but scope of growth in other areas existing. I say that they got a strong base, now time started to build up the fort. Please verify their client list. They are dealing and getting confidence of their client for years that include various MNC companies in different sectors.
Next is Crude oil and raw material price variation.
Please go through last con call transcript that i posted above. Most of the cases they are neutral on raw material prices. Either increase or decrease it will pass it to clients.
Comparison with Supreme for Management quality.
Please google it about Mr.Mike Sanghvi you may understand that how respected person he is in plastic manufacturing field or we did not see any wrong doing from the management then how we can compare management integrity. I would not like to say that Iam a good person so you are not. Must say both are good 
Invested; Positive Biased
