Shalby Ltd. · NSE:SHALBY
Shalby — Q1 FY2026 Earnings Presentation
44 slides from Shalby's earnings presentation, Aug 13, 2025
Slide 1: Exchange submission letter for investor presentation
Shalby/SE/2025‐26/34 August 13, 2025 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
Slide 2: Investor Presentation Q1'FY2026
Investor Presentation Q1’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 SHALBY GROUP QUARTERLY AND ANNUAL PERFORMANCE PERFORMANCE 02 HOSPITAL BUSINESS CONSOLIDATED QUARTERLY BUSINESS AND ANNUAL QUARTERLY PERFORMANCE PERFORMANCE 03 STANDALONE BUSINESS QUARTERLY PERFORMANCE 04 IMPLANT BUSINESS QUARTERLY PERFORMANCE 05 SHALBY ACADEMY QUARTERLY PERFORMANCE 3
Slide 5: Financials Snapshot Q1 FY26
Financials Snapshot Q1 FY26 Consolidated Revenue at ₹ 3,034 mn in Q1 FY26 vs ₹ 2,886 mn in Q1 FY25 Consolidated EBITDA at ₹ 485 mn in Q1 FY26 vs ₹ 549 mn in Q1 FY25 Consolidated Consolidated PBT at ₹ 227 mn in Q1 FY26 vs ₹ 304 mn in Q1 FY25 Financial Highlights Consolidated Net debt stood at ₹ 3,025
Slide 6: Consolidated Performance Highlights – Q1 FY26
Consolidated Performance Highlights – Q1 FY26 Revenue (INR MN) EBITDA1 & Margin (INR MN) 3034 549 485 2886 262 2702 19.0% 9.7% 16.0% Q1 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q4 FY25 Q1 FY26 Up 5.1% Down 11.6% PBT & Margin (INR Mn) PAT & Margin (INR Mn) 304 147 227 77 5.1% 2.5% 10.5% 7.5% (7) Q1 FY25 Q4 FY25
Slide 7: Consolidated P/L & B/S – Q1 FY26
Consolidated P/L & B/S – Q1 FY26 Profit & Loss (INR Mn) Balance Sheet (INR Mn) Q1 Q4 Q1 Q-o-Q Y-o-Y Gross 4524 Particulars (Rs. Millions) Borrowings FY26 FY25 FY25 Growth Growth Revenue 3034 2702 2886 12.3% 5.1% Cash & Cash 1499 Equivalents EBITDA2 485 262 549 85.6% (11.6%) Net Cash/(Debt) (3025) EB
Slide 8: Financial Trends – Shalby Limited (Consolidated)
Financial Trends – Shalby Limited (Consolidated) Revenue (In INR Cr) EBITDA (In INR Cr) & Margin (%) 1115 953 196 827 159 160 711 132 504 99 95 440 20% 22% 19% 19% 21% 14% FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 ROCE (%) 14% 13% 11% 8% 8% 8% FY20 FY21 FY22 FY23 FY24 FY25
Slide 9: Diversification in Revenue Mix
High Growth Business Verticals Healthcare Conglomerate Multi-Specialty Franchise Implant 11 Hospitals across western, northern 4 Hospital network USA based Knee & Hip and central India Manufacturing facility Synergistic Sustainable Business Model • Headroom to grow further with • An Asset light fran
Slide 10: 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 “Zero Technique” that revolutionized Joint Replacement Surgery. A visionary entrepreneur, he transformed Shalby from a 6 bedded hospital in 199
Slide 11: Hospital Business Performance
HOSPITAL BUSINESS PERFORMANCE 10
Slide 12: Hospital Business Highlights Q1 FY26
Hospital Business Highlights Q1 FY26 Global leader in Joint replacements with more than 1,75,000 surgeries Surgery Count and YoY Growth Operational Performance3 Q1 Q1 YoY Particulars FY26 FY25 Growth Arthroplasty Orthopaedic In-Patient1 (Nos.) 22,499 22,792 (1.3%) 4210+ 0.7% 1360+ 25.6% Out Patient
Slide 13: Standalone Business Highlights – Q1 FY26
Standalone Business Highlights – Q1 FY26 Financial Performance Revenue (INR Mn) EBITDA1 & Margin (INR Mn) 2404 2422 580 524 380 2142 24.2% 17.7% 21.6% Q1 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q4 FY25 Q1 FY26 Up 0.7% Down 9.8% PBT & Margin (INR Mn) PAT & Margin (INR Mn) 458 305 401 257 257 150 19.1% 12.0% 16.
Slide 14: Standalone Business P&L and B/S – Q1 FY26
Standalone Business P&L and B/S – Q1 FY26 Profit & Loss (INR Mn) Total Revenue to EBITDA Q1 Q4 Q1 QoQ YoY Particulars (Rs Mn) FY26 FY25 FY25 Growth Growth 6.3% 6.8% Other expenses 11.1% 11.6% Employee Benefit Total Revenue 2422 2142 2404 13.1% 0.7% 8.6% 8.4% Expenses 25.9% 23.3% Other Operative Expe
Slide 15: Shalby Sanar Q1'FY26 Highlights
Shalby Sanar Q1’FY26 Highlights IP Count Total 19200+ ARPOB 1200+ Employees Patients Total ₹89,803 Expertise in 320+ Revenue of 56% Liver, Served in revenue Doctors & FY24-25 ₹232.5 Mn. OP Count Kidney, Consultant generated Total Bed in Q1’FY26 ALOS 3.38 3600+ Blood & 50+ from Capacity 130 vs ₹237.7
Slide 16: Hospital Business Highlights: Specialty Revenue Mix
Hospital Business Highlights Specialty Revenue Mix Q1 FY2025 2 Q1 FY2026 2 Others General Others General Surgery, 7% Surgery, 6% Surgery, 7% Surgery, 6% Arthroplasty, Arthroplasty, 40% 41% Nephrology, Nephrology, 5% 5% Neurology, Neurology, 5% 5% Orthopaedic, Orthopaedic 9% , 10% Critical Care Criti
Slide 17: Hospital Business Highlights: Payor Mix
Hospital Business Highlights Payor Mix Q1 FY20251 Q1 FY20261 Government, Government, 24% 24% Self Pay, 36% Self Pay, 35% TPA/Insurance, TPA/Insurance, 41% 40% Notes: 16 1. Q1’FY25 & Q1’FY26 numbers includes PK Healthcare performance.
Slide 18: Financial Trends – Standalone Business
Financial Trends – Standalone Business 1 Revenue (In INR Cr) EBITDA (In INR Cr) & Margin (%) 900 850 198 727 186 660 162 143 501 428 99 96 20% 22% 22% 22% 23% 21% FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 PAT (In INR Cr) & Margin (%) ROCE (%) 104 18% 16% 81 84 14% 14% 70 8% 8% 43 2
Slide 19: Operational Trends – Hospital Business
Operational Trends – Hospital Business 1,2 Bed Capacity Operational Beds Occupied Beds 2297 1415 633 659 1390 2267 1260 563 570 1235 1164 1164 448 428 2137 2112 2012 2012 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 Total Surgeries Count ARPOB (in INR) AL
Slide 20: Maturity Wise Hospital Performance – Q1 FY26
Maturity Wise Hospital Performance – Q1 FY26 EBITDA2 No. of Revenue Operational EBITDA Maturity ARPOB (in INR Crs) Hospitals (in INR Crs) Beds Margin 10+ Years 4 89.1 391 71,005 32.02 35.9% 5-10 6 146.3 844 34,212 25.37 17.3% Years 0-5 3 24.9 180 87,349 (4.09) (16.4%) Years Other - 5.1 - - (4.11) (8
Slide 21: Clinical Update And Research Across Units during Q1 FY26
Clinical Update And Research Across Units during Q1 FY26 ❖ Shalby Multi-Specialty Hospitals made history by performing the world’s first fully autonomous robotic joint replacement surgery. This historic procedure utilized a saw-based robotic arm with 7-axis movement, delivering unmatched precision i
Slide 22: 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 23: Shalby Academy
Q SHALBY ACADEMY OO SHALBY ACADEMY AUnit of SHALBY LiMMITED)
Slide 24: Shalby Academy Q1 FY26 highlights
Shalby Academy Q1 FY26 highlights Students Enrolled (In Nos) 1. Around 630+ new students registered in Q1 FY25-26 in various disciplines like Physiotherapy, Nursing, Lab Technician Nutrition & 2260 and dietetics, Clinical, Paramedics, Hospital Management, and 2062 1716 Pharmacy as part of their acad
Slide 25: Implant Business
SHALBY Global Technologies Pte. Ltd. 2 SAT ind ovine ives. Put. Ltd
Slide 26: Shalby's Company Structure of Implant Business
Shalby’s Company Structure of Implant Business SHALBY LIMITED INDIA Shalby MedTech Limited (SMTL)* INDIA Shalby Advanced Shalby Global Technologies Technologies Pte Inc.(SAT) Ltd (SGT) USA SINGAPORE Shalby Advanced Technologies (India) Pvt. Ltd. INDIA 25 * Shalby MedTech Limited (SMTL) formerly know
Slide 27: Shalby MedTech Limited (Consolidated)
Shalby MedTech Limited (Consolidated) TOTAL REVENUE (in ₹mn) EBITDA (in ₹mn) 308.25 275.92 Q1'FY25 Q4'FY25 Q1'FY26 -7.48 174.64 -27.13 Q1'FY25 Q4'FY25 Q1'FY26 -93.35 Up 74.2% Implant Components Sold 14076 12860 8509 Q1'FY25 Q4'FY25 Q1'FY26 Up 65.4% 26
Slide 28: Shalby Advanced Technologies Inc. (Standalone)
Shalby Advanced Technologies Inc. (Standalone) TOTAL REVENUE (in ₹mn) EBITDA (in ₹mn) 302.06 276.77 Q1'FY25 Q4'FY25 Q1'FY26 -6.57 258.54 -18.12 Q1'FY25 Q4'FY25 Q1'FY26 -71.5 Up 20.6% Implant Components Sold 18792 15630 15303 Q1'FY25 Q4'FY25 Q1'FY26 Down 2.1% 27
Slide 29: Shalby MedTech Limited (Standalone)
Shalby MedTech Limited (Standalone) TOTAL REVENUE (in ₹mn) EBITDA (in ₹mn) 182.44 12.79 117.43 46.63 Q1'FY25 Q4'FY25 Q1'FY26 -15.7 Q1'FY25 Q4'FY25 Q1'FY26 Up 271.3% -26.05 Implant Components Purchased Implant Components Sold 12594 9317 9958 10544 6662 2837 Q1'FY25 Q4'FY25 Q1'FY26 Q1'FY25 Q4'FY25 Q1'
Slide 30: Shalby Global Technologies Pte. Ltd. (Standalone)
Shalby Global Technologies Pte. Ltd. (Standalone) TOTAL REVENUE (in ₹mn) EBITDA (in ₹mn) 26.47 4.19 2.34 9.92 3.64 Q1'FY25 Q4'FY25 Q1'FY26 Q1'FY25 Q4'FY25 Q1'FY26 Down 62.4% -2.27 Implant Components Purchased Implant Components Sold 3543 3543 189 176 189 176 Q1'FY25 Q4'FY25 Q1'FY26 Q1'FY25 Q4'FY25 Q
Slide 31: Vision Mission Key Value Proposition
Vision Restoring Mobility Improving Lives Mission We will exceed the expectations of our customers and employees through successful patient outcomes by providing surgeons with the highest quality products and services Key Value Proposition Reliability Integrity Teamwork • Quick, Nimble and Simple pr
Slide 32: Core Strategic Pillar
Core Strategic Pillar ▪ Recruitment, retention & Portfolio & ▪ Continual training of Innovation training of sales and employees, HCPs and corporate teams Channel Partners ▪ Strong employee ▪ Solid Partner Relationship engagement, involvement and Supply People Customer ▪ Achieve industry-best Chain ❖
Slide 33: Implant Business Roadmap
Implant Business Roadmap Shalby Advanced Technologies plans to become a Global player in a phased manner Existing Phase 1 Phase 2 Phase 3 Market Latin America Middle East Countries East Africa North America • Argentina • UAE • Kenya • Columbia • Saudi Arabia • Ethiopia Japan South-East and North • O
Slide 34: About Shalby
ABOUT SHALBY 33
Slide 35: Shalby At A Glance
Shalby At A Glance OPD clinics Presence 15 60 23 Orthopedic Implant Hospitals1 Domestic International2 Manufacturing in USA 30 Strength 2,300+ 4,600+ 1,150+ Years of Legacy Bed Capacity Total Employees3 Doctors4 Team Clinical Excellence #1 30+ ~3.4 million+ 175,000+ Global Ranking in Specialties Pat
Slide 36: 30 Years of ELITE Legacy
30 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 37: 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) • Lucknow SOCE, 40 beds 27 beds • Krishna Shalby, Ahmedabad (220 • Zynova1 Shalby, Mumbai (100 beds) • Gwali
Slide 38: Hospitals Portfolio
Hospitals Portfolio Multispecialty Units (Owned and Operate) SG Shalby Vapi Shalby Indore Shalby Jaipur Shalby Krishna Shalby Mohali Shalby Naroda Shalby Jabalpur Shalby Surat Shalby Sanar Shalby 37
Slide 39: Franchise Hospital Portfolio
Franchise Hospital Portfolio Shalby Orthopedics Centre of Excellence (SOCE) Vijay Shalby Lucknow Shalby Multispecialty Zynova Shalby (Mumbai) (Shalby Operated) (Shalby Operated) Rajkot Shalby Gwalior Shalby (Shalby Managed) (Shalby Operated) (Shalby Managed) 38
Slide 40: Biggest Healthcare Corporate Group in Western and Central India
Biggest Healthcare Corporate Group in Western and Central India Domestic Presence…... PUNJAB ▪ Mohali – 145 beds Uttar Pradesh ▪ Lucknow – 40 beds DELHI ▪ Gurugram – 130 beds RAJASTHAN ▪ Jaipur – 237 beds GUJARAT ▪ Ahmedabad o SG – 201 beds o Krishna – 220 beds o Naroda – 267 beds Gujarat Rajkot – 3
Slide 41: Shalby Limited Shareholding Pattern (as on 30th June 2025)
Shalby Limited Shareholding Pattern (as on 30th June,25) Employee Benefit Trust 0.69% Public 19.65% DIIs 0.19% FIIs 5.21% Promoters 74.27% Promoters FIIs DIIs Public Employee Benefit Trust 40
Slide 42: Sustainability Initiatives
Sustainability Initiatives ESG Mindset “We at Shalby are embracing sustainability to drive new values to our business” Community Connect 330+ Healthcare Camps Trainings Healthcare Awareness Programs Workplace Wellness 7400+ Life impacted 7,600+ and 5,800+ Man Hours Clinical and Non-Clinical training
Slide 43: 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 44: 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