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Shalby Ltd
NSE:SHALBY

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Shalby Ltd
NSE:SHALBY
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Price: 195.92 INR 2.57% Market Closed
Market Cap: 21B INR

Shalby Ltd
Investor Relations

Shalby Ltd. engages in the operation of hospitals and outpatient clinics. The company is headquartered in Ahmedabad, Gujarat. The company went IPO on 2017-12-15. The firm is mainly engaged in the business of setting up and managing hospitals and medical diagnostic services. Its Healthcare Services segment includes the business of setting up and managing hospitals and medical diagnostics services. Its Manufacturing segment represents the manufacturing of implants. The company offers tertiary and quaternary healthcare services to patients in various areas of specialization, such as orthopedics, complex joint replacements, cardiology, neurology, oncology and renal transplantations, among others. The company provides tertiary and qua-tertiary medical services, including home healthcare and medics/paramedics educational and training programs. The company is also running home healthcare services to deliver medicines, nurses, attendants and other products at home and also running educational and training programs to upgrade and enhance the skills in healthcare industry.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 15, 2025
AI Summary
Q2 2026

Revenue Growth: Shalby Limited reported consolidated Q2 FY26 revenue of INR 289 crore, up 5.5% year-on-year, driven by higher ARPOB despite lower volumes.

Margin Improvement: EBITDA margin improved to 15.9% from 14.5% last year, with PAT margin jumping to 2.5% from 0.9%—a 200% YoY PAT increase.

MedTech Surge: Shalby MedTech saw a 42.1% YoY revenue increase and strong EBITDA turnaround, attributed to robust implant sales and cost reduction.

Shalby International Weakness: Shalby International Hospital reported a sharp revenue decline (down 22.7% YoY) and low 21% occupancy; management expects turnaround in two quarters.

Volume Softness: IP/OP volumes declined due to poor weather, lack of seasonal illnesses, and TPA negotiations, but recovery is expected as new doctors join and TPA deals close.

CapEx and Technology: Significant investments made in robotic and oncology equipment (INR 70 crore in H1), with further capacity and technology enhancements planned.

Payor Mix & Diversification: Payor mix remains healthy and business diversification continues, with ortho now at 34% of revenue—down from historic levels.

Key Financials
Revenue
INR 289 crore
EBITDA
INR 46.1 crore
EBITDA Margin
15.9%
Profit Before Tax
INR 19.1 crore
PBT Margin
6.6%
Profit After Tax
INR 7.3 crore
PAT Margin
2.5%
ARPOB
INR 40,794
ALOS
3.74 days
Occupied Beds
673
Occupancy Rate
48%
MedTech Revenue
INR 33.7 crore
MedTech EBITDA
INR 3.66 crore
Implant Components Sold (Q2)
10,988
Government Business Mix
27%
Net Debt (Consolidated)
INR 362.2 crore
Net Debt (Standalone)
INR 30.9 crore
Tax Rate
25%
CapEx (H1)
INR 70 crore
Other Earnings Calls

Management

Dr. Vikram I. Shah
Founder, Chairman & MD
No Bio Available
Mr. Amit Pathak C.A.
Chief Financial Officer
No Bio Available
Dr. Nishita Shukla
Chief Operating Officer
No Bio Available
Mr. Tushar Dineshchandra Shah C.S.
Associate VP, Company Secretary & Compliance Officer
No Bio Available
Mr. Babu Thomas
Chief Human Resources Officer
No Bio Available
Mr. Deepak Ananthakrishnan
Global Chief Business Officer
No Bio Available
Puneet Maheshwari
Senior Manager of Corporate Strategy & Investor Relations
No Bio Available
Mr. Daniel Hayes
Chief Executive Officer of the US Implant Business
No Bio Available

Contacts

Address
GUJARAT
Ahmedabad
Opp. Karnavati Club, S G Road,
Contacts
+917940203000
www.shalby.org