For
the quarter ending Sept 2023, consolidated Net sales (including other operating income) of Shalby has increased 17.93% to Rs 237.98 crore compared to quarter ended Sept 2022. Sales of Health care services segment has gone up 25.62% to Rs 223.34 crore (accounting for 93.84% of total sales). Sales of Manufacturing of implants segment has gone down 38.98% to Rs 14.65 crore (accounting for 6.16% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 48.60% to Rs 42.63 crore. PBIT of Health care services segment rose 42.30% to Rs 47.62 crore (accounting for 111.71% of total PBIT). PBIT of Manufacturing of implants segment fell 4.48% to Rs -4.99 crore (accounting for -11.71% of total PBIT).
PBIT margin of Health care services segment rose from 18.82% to 21.32%. PBIT margin of Manufacturing of implants segment fell from negative 19.90% to negative 34.07%. Overall PBIT margin rose from 14.22% to 17.91%.
Operating profit margin has jumped from 18.37% to 22.15%, leading to 42.22% rise in operating profit to Rs 52.72 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 3.30% to 3.95%. Purchase of finished goods cost rose from 7.14% to 7.66%. Employee cost decreased from 16.09% to 15.17%. Other expenses fell from 55.75% to 52.47%. Other direct service cost fell from 45.34% to 43.30%. Other income rose 1.32% to Rs 5.38 crore. PBIDT rose 37.09% to Rs 58.1 crore. Provision for interest rose 77.09% to Rs 3.17 crore. Loan funds rose to Rs 160.87 crore as of 30 September 2023 from Rs 139.30 crore as of 30 September 2022. Inventories rose to Rs 205.84 crore as of 30 September 2023 from Rs 158.04 crore as of 30 September 2022. Sundry debtors were higher at Rs 138.72 crore as of 30 September 2023 compared to Rs 122.76 crore as of 30 September 2022. Cash and bank balance declined from Rs 66.56 crore as of 30 September 2022 to Rs 10.08 crore as of 30 September 2023. Investments rose to Rs 133.86 crore as of 30 September 2023 from Rs 25.02 crore as of 30 September 2022 .
PBDT rose 35.33% to Rs 54.93 crore. Provision for depreciation rose 3.36% to Rs 12.3 crore. Fixed assets increased to Rs 681.58 crore as of 30 September 2023 from Rs 649.69 crore as of 30 September 2022. Intangible assets declined from Rs 21.19 crore to Rs 10.16 crore.
Profit before tax grew 48.59% to Rs 42.63 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 15.06 crore, compared to Rs 10.29 crore. Effective tax rate was 35.33% compared to 35.87%.
Net profit attributable to owners of the company increased 49.81% to Rs 27.58 crore. Equity capital stood at Rs 107.31 crore as of 30 September 2023 to Rs 107.31 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.12% as of 30 September 2023 ,compared to 74.04% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Shalby has increased 17.35% to Rs 473.47 crore. Sales of Health care services segment has gone up 25.26% to Rs 442.47 crore (accounting for 93.45% of total sales). Sales of Manufacturing of implants segment has gone down 38.28% to Rs 31.00 crore (accounting for 6.55% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 27.45% to Rs 75.60 crore. PBIT of Health care services segment rose 27.89% to Rs 85.86 crore (accounting for 113.57% of total PBIT). PBIT of Manufacturing of implants segment fell 31.21% to Rs -10.26 crore (accounting for -13.57% of total PBIT).
PBIT margin of Health care services segment rose from 19.01% to 19.40%. PBIT margin of Manufacturing of implants segment fell from negative 15.57% to negative 33.10%. Overall PBIT margin rose from 14.70% to 15.97%.
Operating profit margin has jumped from 19.12% to 20.25%, leading to 24.28% rise in operating profit to Rs 95.86 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 3.58% to 3.40%. Purchase of finished goods cost rose from 7.81% to 7.93%. Employee cost increased from 15.52% to 15.61%. Other expenses fell from 54.76% to 53.82%. Other direct service cost fell from 44.89% to 44.30%. Other income rose 6.67% to Rs 9.92 crore. PBIDT rose 22.39% to Rs 105.78 crore. Provision for interest rose 63.36% to Rs 5.93 crore. Loan funds rose to Rs 160.87 crore as of 30 September 2023 from Rs 139.30 crore as of 30 September 2022. Inventories rose to Rs 205.84 crore as of 30 September 2023 from Rs 158.04 crore as of 30 September 2022. Sundry debtors were higher at Rs 138.72 crore as of 30 September 2023 compared to Rs 122.76 crore as of 30 September 2022. Cash and bank balance declined from Rs 66.56 crore as of 30 September 2022 to Rs 10.08 crore as of 30 September 2023. Investments rose to Rs 133.86 crore as of 30 September 2023 from Rs 25.02 crore as of 30 September 2022 .
PBDT rose 20.59% to Rs 99.85 crore. Provision for depreciation rose 3.24% to Rs 24.24 crore. Fixed assets increased to Rs 681.58 crore as of 30 September 2023 from Rs 649.69 crore as of 30 September 2022. Intangible assets declined from Rs 21.19 crore to Rs 10.16 crore.
Profit before tax grew 27.46% to Rs 75.61 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 27.21 crore, compared to Rs 20.81 crore. Effective tax rate was 35.99% compared to 35.08%.Net profit attributable to owners of the company increased 25.67% to Rs 48.41 crore.
Equity capital stood at Rs 107.31 crore as of 30 September 2023 to Rs 107.31 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.12% as of 30 September 2023 ,compared to 74.04% as of 30 September 2022 .
Cash flow from operating activities increased to Rs 30.66 crore for YTD ended September 2023 from Rs 30.28 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 15.88 crore, compared to Rs 13.68 crore during the YTD ended September 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.
| Shalby : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 237.98 | 201.80 | 17.93 | 473.47 | 403.48 | 17.35 | 804.92 | 698.95 | 15.16 | | OPM (%) | 22.15 | 18.37 | 378 bps | 20.25 | 19.12 | 113 bps | 16.99 | 17.16 | -17 bps | | OP | 52.72 | 37.07 | 42.22 | 95.86 | 77.13 | 24.28 | 136.75 | 119.95 | 14.01 | | Other Inc. | 5.38 | 5.31 | 1.32 | 9.92 | 9.30 | 6.67 | 22.52 | 12.42 | 81.32 | | PBIDT | 58.10 | 42.38 | 37.09 | 105.78 | 86.43 | 22.39 | 159.27 | 132.37 | 20.32 | | Interest | 3.17 | 1.79 | 77.09 | 5.93 | 3.63 | 63.36 | 9.13 | 5.90 | 54.75 | | PBDT | 54.93 | 40.59 | 35.33 | 99.85 | 82.80 | 20.59 | 150.14 | 126.47 | 18.72 | | Depreciation | 12.3 | 11.9 | 3.36 | 24.24 | 23.48 | 3.24 | 48.09 | 42.87 | 12.18 | | PBT | 42.63 | 28.69 | 48.59 | 75.61 | 59.32 | 27.46 | 102.05 | 83.6 | 22.07 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 42.63 | 28.69 | 48.59 | 75.61 | 59.32 | 27.46 | 102.05 | 83.6 | 22.07 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | -4.44 | - | | PBT after EO | 42.63 | 28.69 | 48.59 | 75.61 | 59.32 | 27.46 | 102.05 | 79.16 | 28.92 | | Taxation | 15.06 | 10.29 | 46.36 | 27.21 | 20.81 | 30.75 | 34.37 | 25.18 | 36.50 | | PAT | 27.57 | 18.4 | 49.84 | 48.4 | 38.51 | 25.68 | 67.68 | 53.98 | 25.38 | | Minority Interest (MI) | -0.01 | -0.01 | 0 | -0.01 | -0.01 | 0 | -0.02 | -0.15 | 86.67 | | Net profit | 27.58 | 18.41 | 49.81 | 48.41 | 38.52 | 25.67 | 67.7 | 54.13 | 25.07 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 27.58 | 18.41 | 49.81 | 48.41 | 38.52 | 25.67 | 67.7 | 54.13 | 25.07 | | EPS (Rs)* | 2.55 | 1.70 | 49.81 | 4.48 | 3.57 | 25.67 | 6.27 | 5.29 | 18.44 | | | * EPS is on current equity of Rs 108.01 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Shalby : Consolidated Segment Results |
td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202309 | 202209 | Var.(%) | % of (Total) | 202309 | 202209 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Health care services | 93.84 | 223.34 | 177.79 | 25.62 | 93.45 | 442.47 | 353.25 | 25.26 | 88.70 | 713.97 | 668.16 | 6.86 | | Manufacturing of implants | 6.16 | 14.65 | 24.01 | -38.98 | 6.55 | 31.00 | 50.22 | -38.28 | 11.30 | 90.96 | 30.78 | 195.47 | | Total Reported Sales | 100.00 | 237.98 | 201.80 | 17.93 | 100.00 | 473.47 | 403.48 | 17.35 | 100.00 | 804.92 | 698.95 | 15.16 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 237.98 | 201.80 | 17.93 | 100.00 | 473.47 | 403.48 | 17.35 | 100.00 | 804.92 | 698.95 | 15.16 | | PBIT | | Health care services | 111.71 | 47.62 | 33.47 | 42.30 | 113.57 | 85.86 | 67.14 | 27.89 | 116.26 | 118.64 | 96.11 | 23.44 | | Manufacturing of implants | -11.71 | -4.99 | -4.78 | -4.48 | -13.57 | -10.26 | -7.82 | -31.21 | -16.26 | -16.59 | -16.96 | 2.16 | | Total PBIT | 100.00 | 42.63 | 28.69 | 48.60 | 100.00 | 75.60 | 59.32 | 27.45 | 100.00 | 102.04 | 79.15 | 28.93 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | PBIT Margin(%) | | Health care services | | 21.32 | 18.82 | 250.01 | | 19.40 | 19.01 | 39.91 | | 16.62 | 14.38 | 223.30 | | Manufacturing of implants | | -34.07 | -19.90 | -1,417.31 | | -33.10 | -15.57 | -1,752.85 | | -18.24 | -55.10 | 3,685.12 | | PBT | 100.00 | 42.63 | 28.69 | 48.60 | 100.00 | 75.60 | 59.32 | 27.45 | 100.00 | 102.04 | 79.15 | 28.93 |
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