Key Financial Figures - Consolidated Performance (Q4 FY26)

Profit & Loss Statement (INR Mn):

  • Total Revenue: ₹2,955 (vs. ₹2,702 in Q4 FY25; +9.4% YoY, +5.8% QoQ)
  • EBITDA: ₹374 (includes other income) (vs. ₹262 in Q4 FY25; +43.1% YoY, -0.1% QoQ)
  • EBITDA Margin: 12.7% (vs. 9.7% in Q4 FY25)
  • PBT: ₹96 (vs. ₹(7) in Q4 FY25; +1399.9% YoY, +4.1% QoQ)
  • PBT Margin: 3.3% (vs. -0.3% in Q4 FY25)
  • PAT: ₹185 (Adoption of New Tax Regime) (vs. ₹(122) in Q4 FY25; +251.4% YoY, +1344.0% QoQ)
  • PAT Margin: 6.2% (vs. -4.5% in Q4 FY25)

Balance Sheet & Ratios (as on March 31, 2026):

  • Gross Borrowings: ₹5,396 Mn
  • Cash & Cash Equivalents: ₹934 Mn
  • Net Debt: ₹(4,462) Mn
  • Debt/Equity: 0.44x
  • Annualized ROCE: 7.3%

Key Financial Figures - Standalone Performance (Q4 FY26)

Profit & Loss Statement (INR Mn):

  • Total Revenue: ₹2,304 (vs. ₹2,142 in Q4 FY25; +7.6% YoY, +4.3% QoQ)
  • EBITDA: ₹371 (includes other income) (vs. ₹380 in Q4 FY25; -2.4% YoY, +4.6% QoQ)
  • EBITDA Margin: 16.1% (vs. 17.7% in Q4 FY25)
  • PBT: ₹235 (vs. ₹257 in Q4 FY25; -8.6% YoY, +7.3% QoQ)
  • PBT Margin: 10.2% (vs. 12.0% in Q4 FY25)
  • PAT: ₹537 (Adoption of New Tax Regime) (vs. ₹150 in Q4 FY25; +259.6% YoY, +290.0% QoQ)
  • PAT Margin: 23.3% (vs. 7.0% in Q4 FY25)

Balance Sheet & Ratios (as on March 31, 2026):

  • Cash & Cash Equivalents: ₹759.28 Mn
  • Net Debt: ₹(438.12) Mn
  • Annualized ROCE: 10.8%

Consolidated Revenue & EBITDA Breakup – Q4 FY26

| Business Vertical | Revenue (%) | Revenue (INR Mn) | EBITDA (INR Mn) |

| Shalby Hospitals, Pharma & Franchise | 79.16% | 2,339.5 | 342.2 |

| Shalby International (PK Healthcare, Delhi-NCR) | 7.26% | 214.7 | (3.6) |

| Shalby MedTech (Implant Business) | 13.55% | 400.4 | 37.2 |

| Others | 0.03% | 0.8 | (1.5) |

| Shalby Limited (Consolidated) | 100% | 2,955.4 | 374.3 |

Operational Performance Highlights – Q4 FY26

Hospital Business (Includes PK Healthcare performance):

  • In-Patient Count (Includes Day care): 21,551 (vs. 21,202 in Q4 FY25; +1.6% YoY)
  • Out Patient Count: 122,887 (vs. 131,271 in Q4 FY25; -6.4% YoY)
  • Surgeries Count: 6,909 (vs. 7,405 in Q4 FY25; -6.7% YoY)
  • ARPOB (Average Revenue Per Occupied Bed): ₹42,689 (vs. ₹41,585 in Q4 FY25; +2.7% YoY)
  • Operational Beds: 1,365 (vs. 1,415 in Q4 FY25; -3.5% YoY)
  • Occupied Beds: 649 (vs. 633 in Q4 FY25; +2.4% YoY)
  • Occupancy Rate: 48% (vs. 45% in Q4 FY25; +276 bps)
  • ALOS (Average Length of Stay, without Daycare): 3.81 days (vs. 3.68 days in Q4 FY25; +3.5% YoY)

Note: Occupancy Rate excluding PK Healthcare is 50%.

Maturity-Wise Hospital Performance – Q4 FY26

| Maturity | No. of Hospitals | Total Revenue (INR Mn) | Operational Beds | ARPOB (₹) | EBITDA (INR Mn) | EBITDA Margin |

| 10+ Years | 7 | 1,482.9 | 808 | 47,258 | 300.6 | 20.3% |

| 5-10 Years | 3 | 747.0 | 427 | 29,629 | 118.5 | 15.9% |

| 0-5 Years | 1 | 215.3 | 130 | 88,592 | (19.6) | -9.1% |

| Corporate | - | 74.5 | - | - | (48.6) | -65.2% |

| Total | 11 | 2,519.7 | 1,365 | 42,689 | 350.9 | 13.9% |

Note: Corporate revenue includes MF gains & FD interest, FOSM revenue sharing (Franchise Network- Zynova and Gwalior), interest and corporate guarantee commission income from inter-company loans. Corporate EBITDA loss includes Corporate employees' expense and other common administrative expenses.

Business Overview and Strategy

Shalby Limited is presented as an integrated healthcare group with a 13-hospital network and 2,200+ beds across 10 cities in India. It claims to be the Biggest Corporate Hospital Group in Western and Central India and the Largest Joint Replacement Centre of the World, having performed over 175,000+ successful joint replacement surgeries.

The company's core strategy includes maintaining global leadership in joint replacements while diversifying into Cardiac Science, Oncology, Neuro-science, Critical Care, General Medicine, and Transplants.

Shalby's implant business, Shalby MedTech, has a manufacturing facility in California, USA, and a distribution facility in India and South-East Asian countries. Its implant business footprint in India covers states including Gujarat, Maharashtra, Karnataka, and others, with upcoming expansion into Assam, Odisha, Uttar Pradesh, and Uttarakhand.

Corporate Structure and Shareholding

The presentation includes the company structure, highlighting Shalby MedTech Limited (formerly Mars Medical Devices Limited) as a subsidiary.

The shareholding pattern as of March 31, 2026, is included but specific percentages are not detailed in the provided text.

Board of Directors

The experienced board is listed, including:

  • Dr. Vikram Shah (Chairman and Managing Director)
  • Dr. Ashok Bhatia (Independent Director)
  • Mr. Tej Malhotra (Independent Director)
  • Ms. Sujana Shah (Independent Director)
  • Mr. Shyamal Joshi (Independent Director)
  • Dr. Umesh Menon (Independent Director)