Company Update - Shalby Ltd - ICICI Direct

Revenues were flattish QoQ and in line with our expectations on account of lesser elective surgeries but margins missed on a QoQ basis due to higher-than-expected total expenditure

- Revenues were flat QoQ to Rs. 202.5 crore
- EBITDA was at ~Rs. 34 crore, down 8.4% QoQ with margins at 16.8%
- Adjusted PAT was at Rs. 15.3 crore (de-growth of ~17% QoQ)

Key triggers for future price performance

Shalby is a market leader in arthroplasty procedure with ~15% market share of all joint replacement surgeries by organised private corporate hospitals

Diversification of arthroplasty and orthopaedics with cardiac science, oncology and neuro-science, additional 40% bed capacity available to support organic growth

Re-establishment of implant business in core-markets while creating a platform to enter growth markets with goal of Rs. 100 crore revenue in FY23

Set on an inspirational target to achieve 2.5x sales in the next three to five years on the back of expansion to 50 franchises in next three years, better occupancies and new service offerings (home care & Shalby Care cards)

For details, click on the link below: Link to the report

Shares of Shalby Limited was last trading in BSE at Rs. 154.65 as compared to the previous close of Rs. 152.95. The total number of shares traded during the day was 8887 in over 387 trades.

The stock hit an intraday high of Rs. 155.70 and intraday low of 152.40. The net turnover during the day was Rs. 1368481.00.

Source : Equity Bulls

Keywords

Shalby INE597J01018 Q3FY23 CompanyUpdate ICICIDirect