Shalby Limited Reports Q3 FY25 Financial Results, Reappoints Chairman & MD

Ahmedabad, India | February 3, 2025
Shalby Limited (NSE: SHALBY | BSE: 540797), a leading multi-specialty hospital chain, announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, following the Board of Directors' meeting held on February 3, 2025.

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Key Financial Highlights (Standalone)​

Quarter Ended December 31, 2024​

Nine Months Ended December 31, 2024​

Standalone performance showed moderate revenue growth, but profit margins compressed due to increased finance and depreciation costs.

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Key Financial Highlights (Consolidated)​

Quarter Ended December 31, 2024​

Nine Months Ended December 31, 2024​

Consolidated performance showed strong revenue growth but significantly lower profitability, mainly due to losses in subsidiaries and higher finance costs.

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Segment-Wise Performance​

The healthcare segment remained the primary revenue driver, while the implant business continued to face losses.

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Key Corporate Announcements​

1. Reappointment of Chairman & Managing Director
   • The Board approved the reappointment of Dr. Vikram Shah (DIN: 00011653) as Chairman & Managing Director for a consecutive term of five years (March 27, 2025 – March 26, 2030).
   • Shareholder approval will be sought via a postal ballot process.
2. New Tissue and Bone Bank Launch
   • On January 15, 2025, Shalby launched India’s largest and Gujarat’s first Tissue and Bone Bank at Krishna Shalby Hospital, Ahmedabad, to improve access to reliable and affordable bone grafts.
3. Acquisition Updates
   • Acquired an 87.26% stake in PK Healthcare Pvt. Ltd., making it a subsidiary (effective January 25, 2024).
   • Acquired 100% stake in Healers Hospital Pvt. Ltd., making it a subsidiary (effective March 15, 2024).
   • Shalby Advanced Technologies Inc. (USA) incorporated a subsidiary in India, Shalby Advanced Technologies India Pvt. Ltd., on April 11, 2024.

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Management Commentary​

Dr. Vikram Shah, Chairman & Managing Director, commented:

"We continue to witness strong revenue growth, particularly in our core healthcare services segment. However, our implant manufacturing business is still in a turnaround phase. Our expansion efforts, including the launch of the Tissue and Bone Bank and recent acquisitions, will position Shalby for long-term growth. We remain committed to enhancing shareholder value and maintaining our leadership in joint replacement surgeries."

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Strategic Outlook​

• Revenue Growth Drivers:
  • Continued expansion of hospital services.
  • Operational improvements in the implant business.
  • Increased demand for specialized orthopedic treatments.
• Challenges:
  • Profitability pressure due to higher depreciation and finance costs.
  • Losses in implant manufacturing impacting overall margins.
• Investor Considerations:
  • The company’s recent acquisitions and new medical innovations indicate long-term strategic growth.
  • Short-term profitability concerns remain due to subsidiary losses and cost escalations.

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Conclusion​

While Shalby Limited has demonstrated strong revenue growth, its profitability remains under pressure due to higher costs and subsidiary losses. The reappointment of Dr. Vikram Shah ensures continuity in leadership as the company navigates this transition. Investors will closely watch improvements in the implant manufacturing segmentand potential cost optimization measures in upcoming quarters.