For
the quarter ending Dec 2023, consolidated Net sales (including other operating income) of Shalby has increased 6.71% to Rs 216.05 crore compared to quarter ended Dec 2022. Sales of Health care services segment has gone up 8.36% to Rs 194.52 crore (accounting for 90.04% of total sales). Sales of Manufacturing of implants segment has gone down 6.17% to Rs 21.53 crore (accounting for 9.96% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 30.89% to Rs 30.81 crore. PBIT of Health care services segment rose 28.67% to Rs 37.06 crore (accounting for 120.28% of total PBIT). PBIT of Manufacturing of implants segment fell 18.76% to Rs -6.25 crore (accounting for -20.28% of total PBIT).
PBIT margin of Health care services segment rose from 16.04% to 19.05%. PBIT margin of Manufacturing of implants segment fell from negative 22.93% to negative 29.03%. Overall PBIT margin rose from 11.63% to 14.26%.
Operating profit margin has jumped from 16.70% to 19.59%, leading to 25.17% rise in operating profit to Rs 42.32 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 3.53% to 3.20%. Purchase of finished goods cost fell from 9.57% to 8.41%. Employee cost decreased from 17.10% to 16.60%. Other expenses fell from 54.02% to 53.17%. Other direct service cost rose from 43.29% to 44.85%. Other income rose 7.88% to Rs 4.52 crore. PBIDT rose 23.26% to Rs 46.84 crore. Provision for interest rose 35.96% to Rs 3.63 crore.
PBDT rose 22.30% to Rs 43.21 crore. Provision for depreciation rose 5.17% to Rs 12.4 crore.
Profit before tax grew 30.88% to Rs 30.81 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 11.75 crore, compared to Rs 8.26 crore. Effective tax rate was 38.14% compared to 35.09%.
Net profit attributable to owners of the company increased 24.72% to Rs 19.07 crore. Promoters’ stake was 74.12% as of 31 December 2023 ,compared to 74.12% as of 31 December 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Shalby has increased 13.79% to Rs 689.52 crore. Sales of Health care services segment has gone up 19.56% to Rs 636.99 crore (accounting for 92.38% of total sales). Sales of Manufacturing of implants segment has gone down 28.21% to Rs 52.52 crore (accounting for 7.62% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 28.43% to Rs 106.41 crore. PBIT of Health care services segment rose 28.12% to Rs 122.92 crore (accounting for 115.51% of total PBIT). PBIT of Manufacturing of implants segment fell 26.20% to Rs -16.51 crore (accounting for -15.51% of total PBIT).
PBIT margin of Health care services segment rose from 18.01% to 19.30%. PBIT margin of Manufacturing of implants segment fell from negative 17.88% to negative 31.43%. Overall PBIT margin rose from 13.67% to 15.43%.
Operating profit margin has jumped from 18.33% to 20.04%, leading to 24.39% rise in operating profit to Rs 138.18 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 3.56% to 3.33%. Purchase of finished goods cost fell from 8.40% to 8.08%. Employee cost decreased from 16.05% to 15.92%. Other expenses fell from 54.49% to 53.62%. Other direct service cost rose from 44.35% to 44.47%. Other income rose 8.25% to Rs 14.44 crore. PBIDT rose 22.66% to Rs 152.62 crore. Provision for interest rose 51.75% to Rs 9.56 crore.
PBDT rose 21.10% to Rs 143.06 crore. Provision for depreciation rose 3.88% to Rs 36.64 crore.
Profit before tax grew 28.43% to Rs 106.42 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 38.96 crore, compared to Rs 29.08 crore. Effective tax rate was 36.61% compared to 35.10%.Net profit attributable to owners of the company increased 25.43% to Rs 67.48 crore.
Promoters’ stake was 74.12% as of 31 December 2023 ,compared to 74.12% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of Shalby has increased 15.16% to Rs 804.92 crore. Sales of Health care services segment has gone up 6.86% to Rs 713.97 crore (accounting for 88.70% of total sales). Sales of Manufacturing of implants segment has gone up 195.47% to Rs 90.96 crore (accounting for 11.30% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 28.93% to Rs 102.04 crore. PBIT of Health care services segment rose 23.44% to Rs 118.64 crore (accounting for 116.26% of total PBIT). PBIT of Manufacturing of implants segment rose 2.16% to Rs -16.59 crore (accounting for -16.26% of total PBIT).
PBIT margin of Health care services segment rose from 14.38% to 16.62%. PBIT margin of Manufacturing of implants segment rose from negative 55.10% to negative 18.24%. Overall PBIT margin rose from 11.32% to 12.68%.
Operating profit margin has declined from 17.16% to 16.99%, leading to 14.01% rise in operating profit to Rs 136.75 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 2.39% to 3.80%. Purchase of finished goods cost fell from 16.28% to 8.49%. Employee cost increased from 13.97% to 16.88%. Other expenses rose from 52.76% to 54.75%. Other direct service cost fell from 44.25% to 44.24%. Other income rose 81.32% to Rs 22.52 crore. PBIDT rose 20.32% to Rs 159.27 crore. Provision for interest rose 54.75% to Rs 9.13 crore. Loan funds rose to Rs 180.51 crore as of 31 March 2023 from Rs 174.07 crore as of 31 March 2022. Inventories rose to Rs 185.40 crore as of 31 March 2023 from Rs 121.12 crore as of 31 March 2022. Sundry debtors were higher at Rs 106.36 crore as of 31 March 2023 compared to Rs 100.99 crore as of 31 March 2022. Cash and bank balance declined from Rs 110.56 crore as of 31 March 2022 to Rs 12.29 crore as of 31 March 2023. Investments rose to Rs 145.72 crore as of 31 March 2023 from Rs 24.70 crore as of 31 March 2022 .
PBDT rose 18.72% to Rs 150.14 crore. Provision for depreciation rose 12.18% to Rs 48.09 crore. Fixed assets increased to Rs 685.56 crore as of 31 March 2023 from Rs 671.01 crore as of 31 March 2022. Intangible assets declined from Rs 10.16 crore to Rs 10.15 crore.
Profit before tax grew 22.07% to Rs 102.05 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 34.37 crore, compared to Rs 25.18 crore. Effective tax rate was 33.68% compared to 31.81%.
Minority interest increased 86.67% to Rs -0.02 crore. Net profit attributable to owners of the company increased 25.07% to Rs 67.70 crore.
Equity capital decreased from Rs 108.01 crore as of 31 March 2022 to Rs 107.31 crore as of 31 March 2023 . Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.12% as of 31 March 2023 ,compared to 74.02% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 67.77 crore for year ended March 2023 from Rs 18.92 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 18.48 crore, compared to Rs 75.39 crore during the year ended March 2022.
Business Highlights
Paid-up Equity Share
Capital, having face value Rs 10 each increased from Rs 107.31 crore in quarter
ended Sept 2023 to Rs 107.353 crore in quarter ended Dec 2023. This increase is
due to exercise of 42,735 employee stock options.
Occupied Bed during Q3 FY24 were 590,
growth of 8.4% YoY. In patient count (incl. Day Care) was 20,737, growth of
15.2% YoY.
ARPOB during the quarter was 37,342, growth
of 2.9% YoY.