Shalby Ltd

- A significant portion of recent fundraising was used primarily to repay existing loan facilities, with a smaller part allocated to working capital requirements. (Page 22) - There is an existing investment of around INR 100 crore into the subsidiary Mars Medical through preferential shares, indicating equity infusion. (Page 21) - The company maintains a low gearing ratio (0.03x at standalone level and 0.15x at group level), indicating a strong balance sheet with limited reliance on debt. (Page 6 and 5) - No explicit mention of plans for new debt or equity fundraising in the near future; current focus appears to be on managing working capital and repaying existing debt. (Page 22) - Capex plans exist but primarily focused on utilizing idle capacity and modest incremental spending rather than large new financing. (Page 20-21) In summary, no new significant fundraising through debt or equity was disclosed beyond managing existing liabilities and strategic investments.

- Incremental Capex focus areas: machinery, plant & equipment; infrastructure (building); and instrumentation. - FY23 Capex mainly on instrumentation to support expansion into Indonesia, Latin America, Malaysia, and India. - Minimal machinery replacement, e.g., $50-60K for X-ray templating machine. - No plans for full automation due to high cost; current 80-85% capacity utilization can support 5-year strategic growth. - Space available in El Dorado Hills facility for future machines and warehouse optimization. - Investment of ₹100 crore in subsidiary Mars Medical via preferential shares to support implant business growth. - Ongoing need for continuous investment in surgical instruments (due to wear and metal fatigue) integral to implants business. - Company envisions reaching $100 million business in 5 years with over 20% EBITDA margin, backed by strategic leadership team buildup.

- Implant business expects 50-70% growth compared to the current year (Page 15). - Hospital business grew about 20% in FY23 and is projected to continue at 15-20% growth next year (Page 11). - Sales volume growth seen as much higher compared to previous years, with FY23 India sales being 3x that of FY22, volumes possibly 5x (Page 16). - US implant business aims to become a USD 100 million business in 5 years with 60% revenue from the US, 40% outside (Page 6). - For the SOC (Surgical Operating Center) model, revenues expected to improve as new units mature and mature existing units increase surgeries (Page 18). - Target to achieve single-digit positive margins and 15% return on capital employed over the coming years (Pages 17-18).

- Hospital business expected to grow at 20-25% over the next 2-3 years as occupancy increases and expansion occurs. - Implant business aims to achieve USD 100 million in revenue within 5 years with a 20%+ EBITDA margin. - For FY23, hospital revenue grew 10% to Rs. 728 crore; EBITDA grew 13% to Rs. 161 crore; PAT margin stood at 11%. - Consolidated EBITDA margin expected to be around 17-20% with margin expansion due to operating leverage. - US implant business has grown over 3-fold in FY23 with EBITDA positive; projected to have healthy margins going forward. - Company targets being operational expenses neutral in implant business this fiscal year. - Expect single-digit positive EBITDA for implant business in near term. - Overall guidance includes strong double-digit growth in hospital business and margin improvements.

- The transcript does not explicitly mention the current or expected order book or pending orders in numeric or summarized terms. - Vishal inquires about the number of contracts won and lost, indicating active contract management. - Sushobhan mentions that one annual contract was lost in the mid-western state, but they have won a couple of contracts recently. - The lost contract involves a centralized contract with multiple hospitals, allowing for partial mitigation through local purchases. - Most contracts are annual, with some lasting up to 3 years. - There is an ongoing effort to reinstate lost business and acquire new contracts, showing optimism for future order inflows. - No specific figures regarding total order book size or pending orders are disclosed in the provided pages.