Shalby Limited — PPTs, 13-11-2025: Investor Presentation

Here's a concise summary of Shalby's investor presentation for Q2 FY26:

**1. Business Performance:** Shalby reported solid Q2 FY26 results with consolidated revenue up 5.5% YoY to ₹289.9 Cr and PBT jumping 39.2% YoY to ₹19.1 Cr. PAT saw a significant 208.4% YoY rise to ₹7.3 Cr. Standalone business mirrored this trend, with revenue at ₹229.8 Cr (+5.6% YoY) and PAT at ₹19.8 Cr (+14.0% YoY). The hospital segment maintained Arthroplasty as its largest revenue contributor (34%), while the implant business showed strong growth, with consolidated revenue up 42.1% YoY to ₹33.7 Cr and EBITDA turning positive. Shalby International (Delhi-NCR) saw a revenue decline and negative EBITDA.

**2. Growth Drivers or Strategy:** The company is focusing on being a healthcare conglomerate by diversifying its hospital specialties beyond joint replacements to Cardiac, Onco, Neuro-science, and Transplants. It's also expanding its asset-light franchise model and scaling the implant business, aiming for it to become a USD 100 million segment globally by manufacturing US FDA-approved implants.

**3. Recent Developments:** Shalby performed 31 transplants (22 Kidney, 8 Liver, 1 Bone Marrow) in Q2 FY26, bringing the total to over 495. They also successfully handled complex surgeries like Coronary Intervention in an octogenarian. Shalby Academy partnered with BSDU to offer vocational programs in Allied Health Sciences.

**4. Key Financial Metrics:** Consolidated ROCE stood at 8.1%, with standalone ROCE at 11.8%. Consolidated net debt was ₹362.2 Cr, while standalone net debt was ₹30.9 Cr.

**5. Management Commentary / Outlook:** Management plans to double ROCE in the coming year through operational leverage. The company will continue to expand its footprint with new hospitals, like the planned Mumbai facility, and act as a preferred O&M partner on a revenue-sharing basis.