Shalby Ltd
NSE:SHALBY
Shalby Ltd
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.
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.
Stable Revenue: Consolidated revenue for Q3 FY '26 was INR 279.4 crores, marginally down by 0.6% YoY.
Profitability Mixed: Consolidated EBITDA fell by 0.6% YoY, and margins declined to 13.4%. PAT turned positive, improving from a loss last year.
Hospital Business Challenges: Stand-alone hospital revenue and profits declined YoY due to a temporary halt in insurance business, loss of key doctors, and flat occupancy rates.
MedTech Turnaround: Shalby MedTech saw strong revenue growth (up 29% YoY in Q3), with EBITDA turning positive after previous losses.
International Expansion: MedTech business is expanding internationally, with approvals in new markets and a focus on improving margins and supply chain.
Strategic Investments: Significant recent investments in robotics, diagnostics, and infrastructure are expected to drive future growth.
Limited Near-Term CapEx: No significant new hospital bed additions or franchisee expansions planned in the next year; focus on ramping up existing capacity.
Positive Outlook: Management expects double-digit volume growth and 5–6% ARPOB growth in FY '27, with improving margins and reduced net debt.
