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Shalby Launches Advanced Oncology and Radiotherapy Department at Surat Hospital
Shalby Limited has inaugurated a comprehensive Oncology Department at its Surat multi-specialty hospital. The new facility includes advanced radiotherapy services, enabling the hospital to provide integrated cancer care across medical, surgical, and radiation oncology. This expansion targets the South Gujarat region, aiming to provide specialized diagnosis and treatment under one roof. The addition of high-margin oncology services is expected to enhance the hospital's service mix and potentially improve its Average Revenue Per Occupied Bed (ARPOB).
Key Highlights
Inauguration of a dedicated Oncology Department at Shalby Multi-Specialty Hospital, Surat
Introduction of advanced Radiotherapy facilities for comprehensive cancer treatment
Integrated care model featuring medical, radiation, and surgical oncology teams
Strategic expansion to capture demand for specialized cancer care in the South Gujarat region
💼 Action for Investors
Investors should view this as a positive operational development that could boost high-margin revenue for the Surat unit. Monitor future quarterly results for improvements in ARPOB and occupancy driven by these specialized services.
Shalby Subsidiary PK Healthcare Receives NABH Accreditation Valid Until 2030
Shalby Limited's subsidiary, PK Healthcare Private Limited (Shalby International Hospitals) located in Gurugram, has been granted accreditation by the National Accreditation Board for Hospitals & Healthcare Providers (NABH). The accreditation follows the 6th Edition Standards, which focus on patient safety, clinical governance, and risk management. This certification is valid for a period of four years, extending until 2030. Such accreditations are critical for healthcare providers to maintain quality benchmarks and attract corporate and insurance-linked patients.
Key Highlights
PK Healthcare Pvt Ltd (Gurugram) granted NABH accreditation under the rigorous 6th Edition Standards.
The accreditation is valid for a long-term duration until the year 2030.
Framework emphasizes patient safety protocols, clinical governance, and continuous quality improvement.
Accreditation strengthens the hospital's position in evidence-based clinical care and infection control.
💼 Action for Investors
Investors should view this as a positive operational milestone that validates the quality of healthcare services at Shalby's Gurugram facility. This accreditation is likely to improve the hospital's reputation and operational efficiency, supporting long-term revenue growth.
Shalby Increases Stake in Subsidiary PK Healthcare to 91.13% via Rs 59.6 Cr Rights Issue
Shalby Limited has increased its stake in its subsidiary, PK Healthcare Private Limited (PKHPL), from 87.26% to 91.13%. The company invested approximately Rs 59.60 crore by subscribing to 5.96 crore equity shares at a price of Rs 10 per share through a rights issue. The capital infusion will be utilized by PKHPL for debt repayment and working capital requirements. PKHPL, which focuses on the Delhi/NCR healthcare market, reported a turnover of Rs 91.19 crore in FY 2024-25.
Key Highlights
Acquired 5,96,01,950 equity shares of PK Healthcare at Rs 10 per share
Total investment amount stands at Rs 59,60,19,500
Shalby's shareholding in PKHPL increased from 87.26% to 91.13%
Funds will be used by the subsidiary for debt repayment and working capital
PKHPL's turnover grew from Rs 67.36 crore in FY23 to Rs 91.19 crore in FY25
💼 Action for Investors
This move consolidates control and helps deleverage a key subsidiary in the high-growth Delhi/NCR region. Investors should monitor if this capital infusion leads to improved consolidated margins for Shalby in the coming quarters.
Shalby Q3 FY26: Consolidated PAT Turns Positive at ₹1.3 Cr; MedTech Revenue Jumps 29% YoY
Shalby Limited reported a marginal 0.6% YoY decline in consolidated revenue to ₹279.4 crores for Q3 FY26, while consolidated PAT turned positive at ₹1.3 crores compared to a loss in the previous year. The core hospital business faced headwinds with a 2.6% revenue decline and lower occupancy of 44%, primarily due to ongoing negotiations with major insurance providers. Conversely, the MedTech segment showed strong momentum with 29% revenue growth and achieved EBITDA breakeven for the first time. The company maintains a stable balance sheet with a net debt of ₹408 crores and a low gearing ratio of 0.41x.
Key Highlights
Consolidated PAT improved to ₹1.3 crores from a loss of ₹3 crores in the same quarter last year.
MedTech segment revenue grew 29% YoY to ₹30.38 crores, with EBITDA turning positive at ₹0.7 million.
Hospital standalone revenue declined 2.6% YoY to ₹221 crores with occupancy dropping to 44% from 46%.
ARPOB (Average Revenue Per Occupied Bed) saw a marginal increase of 1.1% YoY to ₹43,171.
Shalby International (Gurgaon) reported revenue of ₹23.9 crores with 51% contribution from international patients.
💼 Action for Investors
Investors should monitor the recovery in hospital occupancy once insurance negotiations are finalized and track the scalability of the now-profitable MedTech division. The stock remains a watch as the company transitions its medical implant business from a turnaround to a growth phase.
Shalby Q3 FY26 Results: Consolidated PAT Turns Positive at ₹13 Mn Despite Flat Revenue
Shalby Limited reported a mixed performance for Q3 FY26, with consolidated revenue remaining nearly flat at ₹2,794 million, a marginal 0.6% YoY decline. The company successfully turned around its consolidated bottom line, reporting a PAT of ₹13 million compared to a loss of ₹29.9 million in the year-ago period. However, operational metrics showed weakness, with inpatient counts down 7% and surgery counts down 8.5% YoY. Standalone EBITDA margins also faced significant pressure, contracting to 16.0% from 21.5% in Q3 FY25.
Key Highlights
Consolidated PAT improved to ₹13 million from a loss of ₹29.9 million in Q3 FY25.
Standalone EBITDA margins compressed by 550 bps YoY to 16.0% due to higher operating expenses.
Total surgery counts declined by 8.5% YoY to 6,833, while ARPOB saw a marginal increase of 1.1% to ₹43,171.
MedTech (Implant Business) contributed 10.88% to consolidated revenue, amounting to ₹303.8 million.
Consolidated net debt stood at ₹4,086 million as of December 2025 with an annualized ROCE of 6.7%.
💼 Action for Investors
Investors should exercise caution due to the decline in operational volumes and significant margin compression in the core standalone business. While the turnaround in consolidated PAT is positive, the high debt-to-equity ratio of 0.41x and low ROCE warrant a watchful approach.
Shalby Q3 PAT Drops 34% YoY to ₹138 Mn; Board Approves ₹59.6 Cr Investment in Subsidiary
Shalby Limited reported a weak financial performance for Q3 FY26, with standalone Net Profit declining 33.9% YoY to ₹137.91 million. Revenue from operations remained largely stagnant with a marginal 2.4% YoY decline to ₹2,152.36 million. The Board has approved a significant capital commitment of ₹59.60 crore to subscribe to a rights issue by its subsidiary, PK Healthcare Private Limited. Additionally, the company is streamlining its structure by closing its non-operational step-down subsidiary, Ningen Lifecare Private Limited.
Key Highlights
Standalone Net Profit fell 33.9% YoY to ₹137.91 million from ₹208.58 million in the previous year's quarter.
Revenue from operations decreased to ₹2,152.36 million compared to ₹2,206.40 million in Q3 FY25.
Profit Before Tax (PBT) saw a sharp decline of 38.8% YoY, dropping to ₹218.72 million.
Approved investment of ₹59.60 crore to acquire 5.96 crore shares in subsidiary PK Healthcare Private Limited.
Initiated strike-off process for step-down subsidiary Ningen Lifecare Private Limited due to lack of operations.
💼 Action for Investors
Investors should exercise caution as the company faces significant margin contraction and declining profitability. Monitor the performance of the subsidiary PK Healthcare to see if the ₹59.6 crore investment yields better consolidated returns.
Shalby Approves Enhanced Banking Facilities of ₹199.88 Crore for Working Capital and US Subsidiary
Shalby Limited has received approval from its Management Committee to avail renewed and enhanced banking facilities totaling ₹199.88 crore from IndusInd Bank. The funds are designated for working capital and a foreign currency term loan for its US-based step-down subsidiary, Shalby Advanced Technologies, Inc. Additionally, the parent company will utilize a portion of these facilities for an overdraft facility. This move is aimed at strengthening the liquidity and operational capacity of its international business segment.
Key Highlights
Approved enhanced banking facilities up to ₹199.88 crore from IndusInd Bank Limited
Funds to be used for working capital and foreign currency term loans for US subsidiary Shalby Advanced Technologies, Inc.
Includes a renewed overdraft facility for the parent company, Shalby Limited
The transaction is conducted at arm's length with no promoter interest involved
💼 Action for Investors
Investors should monitor the performance of the US subsidiary to ensure the additional capital leads to improved operational efficiency. This is a routine financial arrangement and does not necessitate immediate changes to investment positions.
Shalby Discontinues SOCE Operations in Rajkot and Lucknow; Retains OPD Services
Shalby Limited has announced the discontinuation of its Shalby Orthopedics Centre of Excellence (SOCE) operations in Rajkot and Lucknow. The Rajkot operations will cease on January 31, 2026, while the Lucknow operations are set to end on February 15, 2026. Despite the closure of these specialized centers, the company will continue to maintain its Outpatient Department (OPD) services in both cities. This move indicates a strategic restructuring of their regional operational footprint.
Key Highlights
SOCE operations in Rajkot to be discontinued effective January 31, 2026.
SOCE operations in Lucknow to be discontinued effective February 15, 2026.
OPD services will remain fully operational in both Rajkot and Lucknow locations.
The decision was communicated as per Regulation 30 of SEBI (LODR) Regulations, 2015.
💼 Action for Investors
Investors should monitor upcoming financial reports for any impact on revenue and seek management clarity on whether these closures are due to underperformance or a strategic shift in the SOCE business model.