Arthneeti

Shalby Q1 FY27 Share Price & Earnings Call Analysis

₹120.64-1.08% today
Market cap
₹1,306 Cr
P/E
33.20
ROE
2.45%
PEG
-1.17
Price to sales
1.11
Debt to equity
0.59
52W high / low
₹244 / ₹113
Sales growth (5Y)
21.51%
EBITDA margin
12.14%
Net profit margin
1.91%
Promoter holding
74.33%
Sales (last year)
₹1,176 Cr

Shalby Ltd is engaged in healthcare delivery space in India. It operates a chain of multi-specialty hospitals across India. The business of the company is to offer tertiary and quaternary healthcare services to patients in various areas of specialization such as orthopaedics, complex joint replacements, cardiology, neurology, oncology, renal transplantations, etc.[1] The company is the global leader in knee replacement surgery and one of the top Indian hospitals in joint replacement surgery.

Guidance scorecard · Q1 FY27 call

What Shalby Ltd's management guided
and where it ranks in Healthcare Services

#23of 33 in
Healthcare Services
Revenue10–20%MarginsUp 2%+CapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Shalby MedTech showed strong revenue growth: ₹47 crores in Q1 FY27, a 53% YoY increase.
  • India operations grew 98% YoY, showing increasing product demand and improving execution.
  • US business sales remained stable with modest 9% YoY growth; multiple initiatives in progress to boost US sales.
  • MedTech business aims to sustain strong growth momentum with a maintained CAGR of 93%.
  • Hospital segment occupancy improved, with a 9.8% YoY increase in occupied beds and expected EBITDA margin rise to ~20%.
  • Gurgaon unit achieved EBITDA breakeven, with further occupancy growth expected.

2 more points from Shalby Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 2%+

See what Shalby Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Mumbai Expansion (Asha Parekh Hospital, 200 beds): Planned as a greenfield project with cash CAPEX outlay expected around April 2027. Investment benchmarks and funding sources (debt vs internal accruals) will be assessed once finalized. No additional debt…
  • MedTech Business: Continuing selective investments in products and technologies for sustainable long-term growth; recent CAPEX already deployed, including bunker facility and robotics. Minimal CAPEX planned going forward.
  • Operational Efficiencies: Initiatives underway to reduce cash flow requirements by ~₹3 crores per month through operational improvements and vendor partnerships in MedTech.

2 more points from Shalby Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Shalby Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Shalby Ltd said on the order book →

Full Q1 FY27 analysis
Full Healthcare Services ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Healthcare Services
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Aster DM Quality Care LtdGood growth
    3
See all potential multibaggersWhere does Shalby Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Healthcare Services companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹903 Cr—
240%+Flat₹583 Cr22.2
3Aster DM Quality Care Ltd20–40%Up 2%+₹58,782 Cr162.9
420–40%Up 0–2%₹1,730 Cr17.5
520–40%Up 0–2%₹580 Cr11.9
620–40%Flat₹1.13L Cr53.9

Sign up free to see every company in the sector ranking and track Shalby Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Healthcare Services ranking

Financials of Shalby Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Shalby Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +199235238216244279268276265296285272287
Expenses +173192185174205234235242244255244242258
Operating Profit26435342394533342142423029
OPM %13%18%22%20%16%16%12%12%8%14%15%11%10%
Other Income +95555107557478
Interest33346891111910119
Depreciation13121212161617161617171818
Profit before tax1933433122301412-12319910
Tax %28%37%35%38%26%52%83%124%1,547%66%62%86%-92%
Net Profit +1421281916152-3-1287118
EPS in Rs1.291.932.551.771.541.450.31-0.17-1.020.830.780.161.70

Financials of Shalby Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +2752903243784624874316998059341,0871,141
Expenses +207235252299379404342577667755952999
Operating Profit68567179838389122138179135143
OPM %25%19%22%21%18%17%21%17%17%19%12%13%
Other Income +227109178822192827
Interest5101112975811184139
Depreciation211117233336374348526670
Profit before tax43365054505755791021285661
Tax %43%-1%43%27%37%51%23%32%34%35%97%43%
Net Profit +25362939322842546884235
EPS in Rs7.364.303.403.652.932.553.935.016.277.780.583.46
Dividend Payout %0%0%0%0%17%20%25%20%19%15%0%0%

Financials of Shalby Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital358787108108108108108107107107108
Reserves133117164643672691727768820893885898
Borrowings +98224328114716244155180378476595
Other Liabilities +8575999689105118162173231241239
Total Liabilities3515046799619399679971,1941,2811,6091,7091,839
Fixed Assets +1753193236506926726606756859669551,064
CWIP91822214736861115220
Investments000011281625146819562
Other Assets +85102134264233260314488440547637712
Total Assets3515046799619399679971,1941,2811,6091,7091,839

Financials of Shalby Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +6014435579196820-4
Cash from Investing Activity +-153-2361-31-51-60-61146-36
Cash from Financing Activity +96222-51-22-3090-50-15148
Net Cash Flow30-63-249-43158
Free Cash Flow-98-1241224458-2950-26-74
CFO/OP99%34%63%91%99%34%70%22%7%

Financials of Shalby Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days294038496471805348575973
Inventory Days771131191052421,1521,3611,033908
Days Payable395462522415606546744377310
Cash Conversion Cycle2940-280-299-339-239-28353654673715671
Working Capital Days-46-26-64-185770777475482639
ROCE %22%13%12%9%7%7%7%10%10%11%6%6%

Guidance history

How Shalby Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Up 2%+PlannedPlanned—
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →20–40%FlatPlannedNone planned—
Q2 FY26 call →0–10%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

5out of 100

Momentum score · price trend

5 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−50.2%5%
Last 6 months−24.9%14%
Last 3 months−25.2%11%

The price is 62% below its all-time high of ₹317.6 (24 Nov 2023). Stocks more than 20% below their peak have their score halved, so 10 became 5.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Shalby Ltd: 0.4 × 5 + 0.4 × 14 + 0.2 × 11 = 10, halved to 5 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Shalby Ltd's management said in earlier quarters

Others in Healthcare Services this season

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    Consolidated operating revenue for Q2 FY27: ₹28,440 Mn, up 73.0% YoY (Page 15, 16). Key investor presentation takeaways from Narayana Hrudayalaya Ltd's Q2 FY27

  • Artemis Medicare Services Ltd (Q2 FY27)

    Q2 FY27 consolidated revenue from operations: INR 31,104 Lacs, up 13.2% YoY (Page 39, 40, 20). Key investor presentation takeaways from Artemis Medicare Service

  • Max Healthcare Institute Ltd (Q2 FY27)

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