Shalby Hospitals reports stellar Q3 FY22 performance. Revenues up by 16.2% to Rs. 1,531 million.

Total Revenues of Rs. 1,531 million up by 16.2%, EBITDA of Rs. 312 million with margins of 20.4%

Performance backed by growth in core business, surgery countup by 84%to 5,679 in Q3 FY22

compared to3,082 in Q3 FY21

India, February 02, 2022: Shalby Limited, India’s leading multi-specialty hospital, has announced its financial results for the quarter ended onDecember31, 2021.

Standalone Performance Highlights: Q3 FY2022 vs Q3 FY2021

• Total Revenues of Rs. 1,531 million, growth of16.2%
• Operating EBITDA of Rs. 312 million with EBITDA margins of 20.4%
• Profit Before Tax and Exceptional Items was Rs. 215 million, margins of 14.0%
• Bed occupied during the quarter were 513, with occupancy rate of 42%
• In patients count increased 17% y-o-y, driven by increase in non-covid patients

Mr. Shanay Shah, President said: “I am happy to report that Shalby has surpassed full year FY21 hospital business numbers in 9M FY22 with Revenue, EBIDTA and PAT of Rs.5,075 million, Rs. 1,103 million and Rs.541 million respectively.Our Q3 FY22 performance was backed by increase in surgery count by 84% y-o-y to 5,679. Our occupancy levels remained stable at 42% and ARPOB also recovered to Rs.32,049 as compared to Rs.26,660 with pick-up in elective surgeries and almost no contribution from COVID-19 patients. Generally, third quarter of a year is always moderate due to festivities however, we have recorded the highest revenue numbers for any Q3 in our history.During the quarter, Shalby (hospital business) recorded total revenues of Rs. 1,531 million, growth of 16% on y-o-y, EBIDTA was Rs. 312 million with margins remaining strong at 20.4%. Profit before tax was Rs. 215 million with margin of 14.0%.

In Q3 FY22, Arthroplasty, Critical care & General Medicine, Cardiac Science Oncology, Orthopedic, and Neurology contributed 38%, 11%, 10%, 10%, 9% and 6% to the revenues respectively. Although Shalby continues to maintain leadership position in Arthroplasty, it has also transformed itself as a multispecialty hospital with diversified revenue mix.”

Mr. Sushobhan Dasgupta, Vice Chairman and Global President said:“Over the years, Shalby has established a group of multispecialty hospitals with focus on core specialties such as Arthroplasty, Cardiac Science, Oncology, Orthopedic and Neurology. Now, our top priority remains to improve occupancy levels and Shalby marketing team has launched innovative digital and market awareness programs to reinforce Shalby brand nationwide. In addition, Shalby is following an asset light approach under franchise partnerships to penetrate further into tier 3 and tier 4 cities to enhance brand awareness and increase occupancy across the hospitals.

We are making significant progress in our US implant business and have achieved many internal milestones over the last eight months. Successfully on-boarded leadership and executive team comprising of total 55 employees. In addition, we have improved operational capability to 50% with approx. 2,500 components output per month. Our immediate focus is to re-engage with existing customers, surgeons, hospitals, channel partners through regular management field meetings in the US and also setting up better systems and processes. In the next phases, we would like to expand into other core markets of Japan, Latin America, India, SoutheastAsia and Middle East.

With clear strategic direction, we are confident that Shalby group is well positioned to serve more patients while maintaining the highest quality of healthcare service offerings. Our US implant business fundamentals are fully aligned with core Arthroplasty specialty and is anticipated to be earnings accretive from next fiscal year.”

Corporate Comm India (CCI Newswire)