Shalby Limited has informed the Exchange about Transcript of Q1 FY 2026 Earnings Call
SHALBY · price
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Shalby reported Q1 FY26 consolidated revenue of INR303 crores, crossing the INR300 crore mark for the first time, up 5.1% year-on-year and 12.3% quarter-on-quarter. However, EBITDA fell to INR48.5 crores (16% margin) from INR54.9 crores (19% margin) last year, with PAT declining to INR7.7 crores from INR14.7 crores. The hospital business saw flat YoY revenue with occupancy dropping to 45%, partly due to doctor transitions and a slowdown in international patient flow at the Shalby Sanar unit (Middle East tensions impacted this segment). The implant business (Shalby MedTech) showed strong growth with consolidated revenue up 74% YoY to INR30.8 crores. The company maintains a healthy balance sheet with low gearing of 0.3x and INR10 crores net cash at the standalone level.
Management has guided for double-digit revenue growth of 12-15% in FY26 with improving EBITDA margins, which could support the stock if delivered. However, the YoY decline in margins and PAT, plus the 45% occupancy level (well below the 50%+ guided), remain concerns. The growing implant business is a positive long-term lever, with management targeting 20-25% EBITDA margins in 4-5 years.