Shalby Limited Total Income up by 53.5%, EBITDA up by 10.1% Surgery count increased by 144% to 6,190 in Q2 FY22 as compared to from 2,536 in Q2 FY21

India, August 13, 2021: Shalby Limited, India’s leading multi-specialty hospital, has announced its financial results for the quarter ended on September 30, 2021.

Standalone Performance Highlights: Q2 FY2022 vs Q2 FY2021

§  Total income of Rs. 1,717 million, growth of 53.5%

§  Operating EBITDA of Rs. 345 million with EBITDA margins of 20.1%

§  Profit Before Tax of Rs. 250 million, growth of 16.5%

§  Bed occupied during the quarter were 517, with occupancy rate of 43.1%

§  In patients count increased 40% y-o-y, driven by increase in non-covid patients

§  Net Cash position with Rs. 1,036 million at the end of September 2021

Commenting on performance, Mr. Shanay Shah, President said:

“In Q2FY22 the healthcare sector showed signs of normalization, a trend continued in the light of declining Covid-19 cases in India. As a result, we saw a strong rebound in the elective surgeries. Total surgery count increased to 6,190 as compared to 2,536 in Q2 FY21 and in line ARPOB increased to Rs. 33,977 as compared 24,837 in Q2 FY21. Our occupancy levels stood at 43% as compared to 41% in same quarter last year.

During the quarter, Shalby delivered a strong performance with total income of Rs. 1,717 million, a growth of 54% on y-o-y. EBITDA was Rs. 345 million, an increase of 10.1% on y-o-y, with margins of 20.1%. Profit before Tax was Rs. 250 million with a growth of 16.5% on y-o-y basis. Shalby maintains Net Cash position with Rs. 1,036 million at the end of September 2021.

Overall, the performance during the quarter was underpinned by growth in core specialties such as Arthroplasty, Orthopedic, Oncology and Cardiac science which contributed 37%, 11%, 8% and 8% to the revenues, respectively.

On a consolidated level, Shalby continues to remain net cash positive to support future growth plans. Furthermore, we are proud to deliver double digit ROCE of 11.6% on H1 FY22 annualized basis.”

Commenting on strategy, Mr. Sushobhan Dasgupta, Vice Chairman and Global President said:

“Shalby delivered strong performance during the quarter backed by growth in core specialties and recovery in surgery count. The Non-Covid patients count increased to 15,525 reaching the pre-covid levels. The underlying performance is driven by Shalby’s sustained efforts over the years to further strengthen its core healthcare services and build on brand awareness in the market.

I am pleased to report that in September 2021, we launched our first Orthopedic Franchise Hospital in the country at Udaipur. This is a unique and innovative inpatient franchise model which allows faster market penetration across India without significant additional cash flow investment. Shalby plans to open over 50 Shalby franchises in India within next 3 years.

With respect to our implant business in US, we have delivered on our first 100-day turnaround plan. During the quarter, we have with further strengthened leadership with the onboarding of senior business division team leaders. In addition, Shalby has reached out to all its existing customers with a conviction to deliver uninterrupted supplies of quality knee and hip implants.

Overall, Shalby’s Hospital, Implant and Franchise businesses are synergistic and on track to deliver high growth. The Company has already started yielding enhanced financial performance with Non-Covid Revenues, Cash Flows and ROCE at record high levels.”

Corporate Comm India (CCI Newswire)