Shalby Ltd. · NSE:SHALBY
Shalby — Q4 FY2026 Earnings Presentation
47 slides from Shalby's earnings presentation, May 27, 2026
Slide 1: Exchange filing cover letter for investor presentation
Shalby/SE/2026‐27/17 May 27, 2026 The Listing Department Corporate Service Department National Stock Exchange of India Ltd BSE Limited Mumbai 400 051. Mumbai 400 001. Scrip Code : SHALBY Scrip Code: 540797 Through : https://neaps.nseindia.com/NEWLISTINGCORP/ Through : http://listing.bseindia.com Sub
Slide 2: Investor Presentation Q4 & FY2026
Investor Presentation Q4 & FY2026
Slide 3: Disclaimer
DISCLAIMER This presentation and its contents are confidential and are not for release, publication or distribution, in whole or in part, directly or indirectly, in or into or from the United States of America, Canada, Australia, Japan or any jurisdiction where such distribution is unlawful. This pr
Slide 4: Agenda
AGENDA 01 GROUP QUARTERLY SHALBY CONSOLIDATED AND ANNUAL QUARTERLY PERFORMANCE & ANNUAL PERFORMANCE 02 HOSPITAL SHALBY BUSINESS QUARTERLY STANDALONE QUARTERLYAND ANNUALPERFORMANCE & ANNUAL PERFORMANCE 03 SHALBY INTERNATIONAL QUARTERLY & ANNUAL PERFORMANCE 04 SHALBY MEDTECH QUARTERLY & ANNUAL PERFORM
Slide 5: Financials Snapshot Q4 FY26
Financials Snapshot Q4 FY26 Consolidated Total Revenue at ₹ 2,955 mn in Q4 FY26 vs ₹ 2,702 mn in Q4 FY25 Consolidated EBITDA at ₹ 374 mn in Q4 FY26 vs ₹ 262 mn in Q4 FY25 Consolidated Consolidated PBT at ₹ 96 mn in Q4 FY26 vs ₹ (7) mn in Q4 FY25 Financial Highlights Consolidated Net debt stood at ₹
Slide 6: Consolidated Performance Highlights – Q4 FY26
Consolidated Performance Highlights – Q4 FY26 Financial Performance (in INR Mn) Total Revenue EBITDA1 & Margin 2955 2794 375 374 2702 262 9.7% 13.4% 12.7% Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 Up 9.4% Up 43.1% PBT & Margin PAT2 & Margin 185 92 96 13 6.2% Q4 FY25 Q3 FY26 Q4 FY26 -7 3.3% 3.3
Slide 7: Consolidated Business Highlights – FY26
Consolidated Business Highlights – FY26 Financial Performance (in INR Mn) Total Revenue EBITDA1 & Margin 11682 1602 1695 11146 14.4% 14.5% FY25 FY26 FY25 FY26 Up 4.8% Up 5.8% PBT & Margin PAT2 & Margin 347 606 557 5.0% 5.2% 19 3.0% FY25 FY26 FY25 FY26 Up 8.7% Up 1706.6% 6 1. EBITDA includes other in
Slide 8: Consolidated P/L & B/S – Q4 FY26
Consolidated P/L & B/S – Q4 FY26 Profit & Loss Balance Sheet (INR Mn) Q4 Q3 Q4 Q-o-Q Y-o-Y Gross 5396 Particulars (INR Mn) Borrowings FY26 FY26 FY25 Growth Growth Total Revenue 2955 2794 2702 5.8% 9.4% Cash & Cash 934 Equivalents EBITDA2 374 375 262 (0.1%) 43.1% Net Cash/(Debt) (4462) EBITDA Margin
Slide 9: Consolidated Revenue & EBITDA Breakup – Q4 FY26
Shalby Limited : Consolidated Revenue & EBITDA Breakup – Q4 FY26 Revenue (%) Revenue (in INR Mn) EBITDA (in INR Mn) Shalby Hospitals, 79.16% 2339.5 342.2 Pharma & Franchise1 Shalby International (PK Healthcare, 7.26% (3.6) 214.7 Delhi-NCR) 2 Shalby MedTech 13.55% 400.4 37.2 (Implant Business) Others
Slide 10: Financial Trends – Shalby Limited (Consolidated)
Financial Trends – Shalby Limited (Consolidated) Total Revenue (In INR Crs) EBITDA (In INR Crs) & Margin (%) 1168 1115 196 953 170 827 159 160 711 132 440 95 22% 19% 19% 21% 14% 15% FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 ROCE (%) 14% 13% 11% 8% 8% 7% FY21 FY22 FY23 FY24 FY25 FY2
Slide 11: Shalby Limited Business Verticals
SHALBY LIMITED BUSINESS VERTICALS www.shalby.org
Slide 12: A Legend and Visionary Doctorpreneur behind Shalby
A Legend and Visionary Doctorpreneur behind Shalby Dr Vikram I. Shah, the Founder of Shalby Ltd, is a world-renowned Joint Replacement Surgeon who innovated the “Zero Technique” that revolutionized Joint Replacement Surgery. A visionary entrepreneur, he transformed Shalby from a 6-bedded hospital in
Slide 13: Standalone Business Performance
STANDALONE BUSINESS PERFORMANCE 12
Slide 14: Standalone Business Highlights – Q4 FY26
Standalone Business Highlights – Q4 FY26 Financial Performance (in INR Mn) Total Revenue EBITDA1 & Margin 2304 380 2142 2210 371 354 17.7% 16.0% 16.1% Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 Up 7.6% Down 2.4% PBT & Margin PAT2 & Margin 257 537 235 219 150 138 12.0% 9.9% 10.2% 7.0% 6.2% 23.3%
Slide 15: Standalone Business Highlights – FY26
Standalone Business Highlights – FY26 Financial Performance (in INR Mn) Total Revenue EBITDA1 & Margin 9234 1857 1696 8991 20.7% 18.4% FY25 FY26 FY25 FY26 Up 2.7% Down 8.7% PBT & Margin PAT 2 & Margin 1357 1160 1129 838 15.1% 12.6% 9.3% 12.2% FY25 FY26 FY25 FY26 Down 14.5% Up 34.8% 14 1. EBITDA incl
Slide 16: Standalone Business P&L and B/S – Q4 FY26
Standalone Business P&L and B/S – Q4 FY26 Profit & Loss Total Revenue to EBITDA Q4 Q3 Q4 QoQ YoY Particulars (INR Mn) FY26 FY26 FY25 Growth Growth 7.9% 9.0% Other expenses 11.4% 12.8% Total Revenue 2304 2210 2142 4.3% 7.6% Employee Benefit 9.0% 9.0% Expenses Other Operative EBITDA2 28.3% 27.4% 371 3
Slide 17: Shalby International Q4 FY26 Highlights
Shalby International Q4’FY26 Highlights IP Count Total 18900+ ARPOB 1000+ Employees Patients ₹88,592 Expertise in 240+ Served in Total 51% Liver, FY25-26 Revenue of revenue Doctors & OP Count Kidney, Consultant ₹215 Mn. in generated Total Bed ALOS 3.44 4050+ Blood & 45+ Q4’FY26 vs from Capacity 130
Slide 18: Shalby International Performance Highlights – Q4 FY26
Shalby International Performance Highlights – Q4 FY26 Financial Performance (in INR Mn) Total Revenue EBITDA 1 228.06 215.34 (19.57) (25.79) Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 PBT PAT (83.81) (83.81) (94.43) (94.43) Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 17 1. EBITDA includes other income
Slide 19: Shalby International Performance Highlights – FY26
Shalby International Performance Highlights – FY26 Financial Performance (in INR Mn) Total Revenue EBITDA 1 964.47 885.67 (42.20) (69.37) FY25 FY26 FY25 FY26 PBT PAT (306.81) (306.81) (340.30) (340.30) FY25 FY26 FY25 FY26 18 1. EBITDA includes other income
Slide 20: Hospital Business Highlights Q4 FY26
Hospital Business Highlights Q4 FY26 Surgery Count and YoY Performance Operational Performance3 Q4 Q4 YoY Particulars FY26 FY25 Growth Arthroplasty Orthopaedic In-Patient1 (Nos.) 21,551 21,202 1.6% 2650+ 15.4% 1100+ Out Patient (Nos.) 1,22,887 1,31,271 (6.4%) Surgeries Count 6,909 7,405 (6.7%) Oncol
Slide 21: Hospital Business Highlights – Specialty Revenue Mix
Hospital Business Highlights Specialty Revenue Mix Q4 FY2025 2 Q4 FY2026 2 Others Surgery, Others Surgery, General 9% General 7% Surgery, 6% Arthroplasty, Surgery, 7% 36% Arthroplasty, 31% Nephrology, 5% Nephrology, 6% Neurology, 6% Neurology, 6% Orthopaedic, 8% Orthopaedic, Critical Care & 10% Gene
Slide 22: Hospital Business Highlights – Payor Mix
Hospital Business Highlights Payor Mix Q4 FY20251 Q4 FY20261 Government, 23% Self Pay, 36% Government, Self Pay, 33% 30% TPA/Insurance, TPA/Insurance, 37% 41% Notes: 21 1. Q4’FY25 & Q4’FY26 numbers include PK Healthcare performance.
Slide 23: Maturity Wise Hospital Performance – Q4 FY26
Maturity Wise Hospital Performance – Q4 FY261 EBITDA EBITDA No. of Total Revenue Operational Maturity ARPOB (in INR Mn) Margin Hospitals (in INR Mn) Beds (in%) 10+ Years 7 1482.9 808 47,258 300.6 20.3% 5-10 3 747.0 427 29,629 118.5 15.9% Years 0-5 1 215.3 130 88,592 (19.6) (9.1%) Years Corporate2,3
Slide 24: Financial Trends – Standalone Business
Financial Trends – Standalone Business 1 Total Revenue (In INR Cr) EBITDA (In INR Cr) & Margin (%) 900 923 850 198 727 186 660 162 170 143 428 96 22% 22% 22% 23% 21% 18% FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 PAT (In INR Cr) & Margin (%) ROCE (%) 18% 16% 113 14% 14% 104 11% 81 8
Slide 25: Operational Trends – Hospital Business
Operational Trends – Hospital Business 1,2 Bed Capacity Operational Beds Occupied Beds 1390 1415 633 659 646 2297 1365 2267 2242 1235 1260 563 570 1164 2137 428 2112 2012 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Total Surgeries Count ARPOB (in INR) AL
Slide 26: Key Focus Areas For Future In Hospital business
Key Focus Areas For Future In Hospital business Global Leader in Joint Replacement with diversification in other specialties • Continue to maintain global leadership in joint replacements • Ongoing diversification with Cardiac Science, Oncology, Neuro-science, Critical Care, General Medicine and Tra
Slide 27: Implant Business
SHALBY Global Technologies Pte. Ltd. 2 SAT ind ovine ives. Put. Ltd
Slide 28: Shalby's Company Structure of Implant Business
Shalby’s Company Structure of Implant Business SHALBY LIMITED Shalby MedTech Limited (SMTL)* Shalby Advanced Shalby Global Shalby Advanced Technologies Technologies Pte Technologies Inc.(SAT) Ltd (SGT) (India) Pvt. Ltd. 27 * Shalby MedTech Limited (SMTL) formerly known as Mars Medical Devices Limite
Slide 29: Shalby MedTech Performance Highlights: Q4 FY26
Shalby MedTech Performance Highlights: Q4 FY26 Financial Performance (in INR Mn) Total Revenue Total EBITDA SMTL SAT, SGTPL SMTL SMTL SAT, Inc. SGTPL SMTL Inc. Consol. Consol. Q4 FY25 117.43 276.77 26.47 275.92 Q4 FY25 (26.05) (71.50) 4.19 (93.35) Q3 FY26 189.58 264.60 17.23 303.84 Q3 FY26 5.50 15.9
Slide 30: Shalby MedTech Performance Highlights: FY26
Shalby MedTech Performance Highlights: FY26 Financial Performance (in INR Mn) Total Revenue Total EBITDA SMTL SAT, Inc. SGTPL SMTL Consol. SMTL SAT, Inc. SGTPL SMTL Consol. FY 24 156.74 786.02 14.49 584.41 FY 24 (17.25) 1.18 (8.00) (48.52) FY 25 352.04 1,081.82 63.72 922.86 FY 25 (116.76) (77.92) 9.
Slide 31: Shalby MedTech Consolidated Inventory
Shalby MedTech Consolidated Inventory SMT Consolidated Inventory (in INR mn) 3,454 2,914 2,534 2,106 2,028 1,562 1,315 1,350 1,153 934 923 886 920 584 544 Days of Inventory to Sales Consol. Total Revenue Consol. Total Inventory FG RM+WIP (in Days) FY26 934 1,350 3,454 2,534 920 FY25 1,153 923 2,914
Slide 32: Core Strategic Pillars
CORE STRATEGIC PILLARS ▪ Recruitment, retention & Portfolio ▪ Continual training of training of sales and & employees, HCPs and corporate teams. Innovation Channel Partners. ▪ Strong employee ▪ Solid Partner engagement, involvement Relationship. and regular Supply People Customer ❖ Employees communi
Slide 33: Implant Business Footprint Global
Implant Business Footprint Global Existing Markets • North America • Japan • India • Indonesia Approval Received • Malaysia • Argentina Regulatory Approvals • South Korea • Vietnam • Iran Upcoming Markets • Nepal • Iraq • Ethiopia • Paraguay • Sri Lanka • Russia 32
Slide 34: Implant Business Footprint Across India
Implant Business Footprint Across India Existing Markets • Andhra Pradesh • Chhattisgarh • Gujarat • Haryana • Karnataka • Madhya Pradesh • Maharashtra • Punjab • Rajasthan • Tamil Nadu • Telangana • West Bengal Upcoming Markets • Assam • Odisha • Uttar Pradesh • Uttarakhand 33
Slide 35: Marketing Engagements
Marketing Engagements Q4 2025-26 Highlights • INDOCON 2026, 23–25 Jan 2026 • Indore Cadaver workshop, DAA discussions, and INDORE REVSET innovation showcase. • Ahmedabad Orthopedic Conference 25 Jan 2026 • Academic engagement focused on TUKSplasty and Ahmedabad orthopedic advancements. • AIIMS DAA C
Slide 36: About Shalby Limited
ABOUT SHALBY LIMITED -Passion=Compassion= Innovation
Slide 37: Shalby At A Glance
Shalby At A Glance OPD clinics Presence 13 60 23 Orthopedic Implant Hospitals1 Domestic International2 Manufacturing in USA 32 Strength 2,200+ 4,500+ 1,150+ Years of Legacy Bed Capacity Total Employees3 Doctors4 Team Clinical Excellence #1 30+ ~3.5 million+ 175,000+ Global Ranking in Specialties Pat
Slide 38: 32 Years of ELITE Legacy
32 Years of ELITE Legacy Integrity Highest standards of transparency accountability, and corporate governance Learning Team-Work Laser sharp focus on A patient-centric focused upgrading the skills of team with a great blend of our team and building experience, diversity, fresh people capability thin
Slide 39: Our Journey & Expansion Plan
Our Journey & Expansion Plan • Jaipur Shalby, Jaipur (237 beds) • Naroda Shalby, Ahmedabad (267 beds) Vijay Shalby, Ahmedabad • Vapi Shalby, Vapi (146 beds) • • Surat Shalby, Surat (243 beds) 27 beds • Asha Parekh • Krishna Shalby, Ahmedabad (220 • Zynova1 Shalby, Mumbai (100 beds) • Gwalior1 SOCE,
Slide 40: Hospitals Portfolio
Hospitals Portfolio Multispecialty Hospital Units SG Shalby Vapi Shalby Indore Shalby Jaipur Shalby Krishna Shalby Mohali Shalby Naroda Shalby Jabalpur Shalby Surat Shalby Shalby International 39
Slide 41: Biggest Healthcare Corporate Group in Western and Central India
BIGGEST HEALTHCARE CORPORATE GROUP IN WESTERN AND CENTRAL INDIA Domestic Presence PUNJAB ▪ Mohali – 145 beds DELHI ▪ Gurugram – 130 beds RAJASTHAN ▪ Jaipur – 237 beds GUJARAT ▪ Ahmedabad o SG – 201 beds o Krishna – 220 beds o Naroda – 267 beds o Vijay – 27 beds ▪ Vapi – 146 beds ▪ Surat – 243 beds M
Slide 42: Shareholding Pattern (as on 31st March'26)
Shalby Limited Shareholding Pattern (as on 31st March’26) Employee Benefit Trust, 0.66% Public , 20.4% DIIs, 0.25% FIIs, 4.36% Promoters, 74.33% Promoters FIIs DIIs Public Employee Benefit Trust 41
Slide 43: Shalby Achievements
Shalby Achievements SHALBY From Innovation to Impact Shalby Hospitals, Ahmedabad | 2025-26 First Robotic Soft Tissue Surgery at SG Unit Indias Fis DELHI | MUMBAI | AHMEDABAD | INDORE | JAIPUR | JABALPUR | SURAT | MOHALI | VAPI | GWALIOR India’s First QAl-Accredited Transport SHALBY HOSPITALS SHALBY
Slide 44: Shalby Achievements – Media Coverage
Shalby Achievements MEDIA COVERAGE JABALPUR UNIT @ita wees ~ Feuer | wr aang Hist a ST Seed gor teed ecee meoe fo Siac teen Sox ute seh | Sperone wt sgt we sere fl (tee few ey sere ore Cae) er afer seem ary’ ee | Fret te we ote er ey em MULTI-SPECIALTY HOSPITALS. The Pi Baas eae contrast angioplasty
Slide 45: Shalby Achievements – Launch of SCRI, Surat
Shalby Achievements SHALBY MULTI-SPECIALTY —HOSPITALS— LAUNCH OF SCRI, SURAT SCRI Shalby Cancer & Research Institute Sok ee arr cnet ee > fea orgs tet Panett 181 ae Hara at cefen HAS GaAs Weer, FIT arag fate lest a dex ara Fifa Agr 3 Heist fart a aryrrs Peart afaensit a1 sales Fea SHALBY apn 3mm at
Slide 46: Experienced Board Of Directors
Experienced Board Of Directors Dr. Ashok Bhatia Mr. Tej Malhotra Ms. Sujana Shah Independent Independent Independent Director Director Director Mr. Ashok Bhatia is an experienced Pharmaceutical Mr. Malhotra comes with over four decades of Mrs. Sujana Shah, a practicing Chartered Accountant executive
Slide 47: Thank You
Thank You For further information, please contact: Jigar Todi Investors Relation & Corporate Strategist +91 9512049871 ircs3.corp@shalby.org SHALBY LIMITED I Regd Off: Opp. Karnavati Club, S.G. Road, Ahmedabad – 380015, Gujarat, India. Phone: 079 4020 3000 Fax: +91 79 4020 3109 | Website: www.shalby