Q3 2024 Shalby Ltd Earnings Call Transcript
Key Points
- Shalby Ltd (BOM:540797) reported a 6.8% YoY increase in consolidated revenue for Q3 FY24, reaching INR221 crores.
- EBITDA grew by 23.3% YoY, with margins improving from 18.4% in Q3 FY23 to 21.2% in Q3 FY24.
- The company maintained a strong balance sheet with a low gearing ratio of 0.14x and a net cash balance of INR61 crores at the group level.
- Shalby Ltd successfully completed 31 transplants during the quarter and has over 275 kidney and liver transplants to date.
- The company expanded its international presence to new geographies like UAE, Oman, Bangladesh, and Nepal, aiming to increase international hospital revenue.
- The implant business faced delays in launching new products, including a new total knee and TiNbN offerings, impacting growth.
- Supply chain challenges and delays in producing engineering drawings and quality approvals affected the implant business.
- The Nashik project faced significant delays due to the developer's inability to meet commitments, with no clear timeline for completion.
- Sanar International Hospital, recently acquired, is operating at a 15% EBITDA negative margin due to low occupancy levels.
- The company revised its franchise target from 50 to 40 hospitals, indicating a strategic shift and potential slower expansion.
Ladies and gentlemen, good day and welcome to the Shalby Limited Q3 FY24 earnings conference call hosted by Elara Securities Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Gaurang Sakare from Elara Securities Private Limited. Thank you and over to you, sir. Gaurang sir?
Am I audible?
Yes, sir.
Yeah, sorry. Thank you moderator. Good evening, everyone. We welcome all the participants to the Shalby Limitedâs Q3 FY24 earnings call hosted by Elara Securities. Today, we have with us senior management representatives from Shalby. We will start with performance highlights from Mr. Amit Pathak, CFO; and Mr. Deepak Ananthakrishnan, Global Chief Business Officer.
After that we will open the floor for Q&A for all the participants. I will now hand over to Mr. Amit
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