Shalby Limited has informed the Exchange about Transcript
SHALBY · price
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Shalby reported Q4 FY25 consolidated revenue of INR270 crores, up 8.4% year-on-year, but EBITDA fell sharply to INR26.2 crores (margin 9.7% vs 17.6% last year), a roughly 40% YoY dip. Full-year FY25 revenue grew 16.9% to INR1,115 crores, helped by the first full year of Sanar consolidation and strong growth in the implant (Shalby MedTech) business, whose revenue jumped 67.2% to INR93 crores. Standalone hospital EBITDA margin slipped to 17.7% from 20.2% due to a 2% rise in doctor costs from hiring 40+ super-specialty doctors and a 1% shift in payer mix. Management skipped the dividend to preserve cash for ongoing investments and guided that margins should improve from FY26, with Sanar expected to turn EBITDA-positive. Other updates include a shift to the new tax regime from Q1 FY26 (tax rate ~25%), approval received for the Mumbai hospital project from the Charity Commissioner, and two new implant products expected to contribute INR40-50 crores annually.
Near-term sentiment may be weighed down by the steep Q4 EBITDA decline and skipped dividend, but management's clear guidance for margin recovery, Sanar turning EBITDA-positive, and continued strong growth in implants (higher double-digit on a low base) could support the stock if execution delivers in FY26.