Shalby Ltd. · NSE:SHALBY
Shalby — Q3 FY2024 Earnings Presentation
45 slides from Shalby's earnings presentation, Feb 10, 2024
Slide 1: Covering letter to stock exchanges
Shalby/SE/2023-24/108 February 10, 2024 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.c
Slide 2: Investor Presentation Q3 FY2024
Investor Presentation Q3 FY2024
Slide 3: Agenda
AGENDA 01 SHALBY GROUP QUARTERLY PERFORMANCE 02 HOSPITAL BUSINESS QUARTERLY PERFORMANCE 03 HOMECARE BUSINESS QUARTERLY PERFORMANCE 04 FRANCHISE BUSINESS QUARTERLY PERFORMANCE 05 SHALBY ACADEMY QUARTERLY PERFORMANCE 06 IMPLANT BUSINESS QUARTERLY PERFORMANCE 2
Slide 4: Financials Snapshot Q3 FY24
Financials Snapshot Q3 FY24 Consolidated Revenue at Rs. 2,206 mn in Q3 FY24 grew by 6.8% YoY Consolidated EBITDA at Rs.468 mn in Q3 FY24 grew by 23.3% YoY Consolidated Consolidated PBT at Rs.308 mn in Q3 FY24 grew by 30.9% YoY Financial Highlights Consolidated PAT at Rs.191 mn in Q3 FY24 grew by 24.
Slide 5: Consolidated Performance Highlights – Q3 FY24
Consolidated Performance Highlights – Q3 FY24 Revenue (INR MN) EBITDA1 & Margin (INR MN) 2,206 468 2,065 380 EBITDA Margin 18.4% 21.2% Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Up 6.8% Up 23.3% PBT & Margin (INR MN) ROCE (%) 17.3% 308 13.2% 11.4% 235 PBT Margin 11.4% 14.0% Q3 FY23 Q3 FY24 FY 22 FY 23 9M FY24
Slide 6: Consolidated Performance Highlights – 9M FY24
Consolidated Performance Highlights – 9M FY24 Revenue (INR MN) EBITDA1 and Margin (INR MN) 1,526 7,040 6,193 1,244 EBITDA Margin 20.1% 21.7% 9M FY23 9M FY24 9M FY23 9M FY24 Up 13.7% Up 22.7% PBT & Margin (INR MN) PAT & Margin (INR MN) 1,064 675 829 538 PBT Margin 13.4% 15.1% PAT Margin 8.7% 9.6% 9M
Slide 7: Consolidated P/L & B/S – Q3 FY24
Consolidated P/L & B/S – Q3 FY24 Profit & Loss (INR Mn) Balance Sheet (INR Mn) Q3 Q3 Y-o-Y Gross 1,443 Particulars (Rs. Millions) Borrowings FY24 FY23 Growth Cash & Cash 2,053 Revenue 2,206 2,065 6.8% Equivalents EBITDA 468 380 23.3% Net Cash/(Debt) 611 EBITDA Margin % 21.2% 18.4% PBT 308 235 30.9%
Slide 8: Diversification in Revenue Mix
High Growth Business Verticals Healthcare Conglomerate Building An Integrated Orthopedic Solutions Ecosystem Multi-Specialty Franchise Implant 10 Hospitals across western, northern 6 Hospital network USA based Knee & Hip and central India Manufacturing facility Synergistic Sustainable Business Model
Slide 9: 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 10: Standalone Performance (Hospital Business)
STANDALONE PERFORMANCE (Hospital Business) 9
Slide 11: Hospital Business Highlights Q3 FY24
Hospital Business Highlights Q3 FY24 Global leader in Joint replacements with more than 1,50,000 surgeries Surgery Count and YoY Growth Operational Performance Q3 Q3 YoY Particulars FY24 FY23 Growth Arthroplasty Nephro & Urology In-Patient1 (Nos.) 20,737 18,000 15.2% 2,850+ 13% 600+ 24% Out Patient2
Slide 12: Standalone Business Highlights – Q3 FY24
Standalone Business Highlights – Q3 FY24 Financial Performance Revenue1 (INR Mn) EBITDA & Margin (INR Mn) 484 2,004 1,798 386 EBITDA Margin 21.5% 24.2% Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Up 11.5% Up 25.6% PBT & Margin (INR Mn) ROCE 385 20% 16% 286 14% PBT Margin 15.9% 19.2% Q3 FY23 Q3 FY24 FY 22 FY 23
Slide 13: Standalone Performance Highlights – 9M FY24
Standalone Performance Highlights – 9M FY24 Revenue (INR MN) EBITDA1 and Margin (INR MN) 1,556 6,397 5,436 1,251 EBITDA Margin 23.0% 24.3% 9M FY23 9M FY24 9M FY23 9M FY24 Up 17.7% Up 24.5% PBT & Margin (INR MN) PAT & Margin (INR MN) 813 1,258 625 949 PBT Margin 17.5% 19.7% PAT Margin 11.5% 12.7% 9M
Slide 14: Standalone P&L and B/S – Q3 FY24
Standalone P&L and B/S – Q3 FY24 Profit & Loss (INR Mn) Total Revenue to EBITDA Q3 Q3 EBITDA Particulars (Rs Mn) FY24 FY23 YoY Growth 21.5% 24.2% Materials and Consumables Total Revenue 2,004 1,798 11.5% 25.8% 23.2% Fees to Doctors and Consultants EBITDA 484 386 25.6% Employee Benefit Expenses 24.7%
Slide 15: Hospital Business Highlights: Specialty Revenue Mix
Hospital Business Highlights Specialty Revenue Mix Q3 FY2023 Q3 FY2024 Others, 11% Others, 12% Nephrology, Arthroplasty, 4% 43% Nephrology, 5% Arthroplasty, 38% Neurology, 5% Neurology, 6% Orthopaedic, 8% Orthopaedic, 7% Oncology, 10% Critical Care & Oncology, 10% General Critical Care & Medicine, 9
Slide 16: Hospital Business Highlights: Payor Mix
Hospital Business Highlights Payor Mix Q3 FY2023 Q3 FY2024 Government, 24% Government, Self Pay, Self Pay, 24% 35% 33% Insurance, 41% Insurance, 43% 15
Slide 17: Standalone Business CAGR Growth
Standalone Business CAGR Growth Shalby Continued to deliver high double-digit growth over the last 2 decades Revenue (INR Mn) EBITDA (INR Mn) 7,274 1,615 6,598 1,426 778 3,284 439 1,685 194 22 FY 2007 FY 2012 FY 2017 FY 2022 FY 2023 FY 2007 FY 2012 FY 2017 FY 2022 FY 2023 16
Slide 18: Homecare Business Highlights Q3 FY 2024
Homecare Business Highlights Q3 FY 2024 Q3 FY2024 Highlights Patients Served (Nos) Patients Served 6,840 in Q3 FY24 v/s 7,176 patients in Q3 FY23 22,405 19,862 Revenue booked Rs.34 mn during Q3 FY24 v/s Rs.26 mn during Q3 FY23, grew by 30% YoY 9M FY23 9M FY24 Physio, Diagnostics and Pharmacy are the
Slide 19: Clinical Update And Research Across Units during Q3 FY24
Clinical Update And Research Across Units during Q3 FY24 Successful 1st liver transplant done at Indore Shalby 1st Endoscopic Coblation assisted Adenoidectomy at Indore Shalby B/L TKR was done to a patient with 8 months old fracture due to arthritis for a complete cure at Indore Live surgery
Slide 20: 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 21: Franchise Business
q SHALBY 5. cormorenes, />> CI FRANCHISE BUSINESS Build Health & Wealth $0ce}, SHALBY 2 20
Slide 22: Leveraging Expertise Through Franchise Asset Light Model
Leveraging Expertise Through Franchise Asset Light Model Franchise model will leverage Shalby expertise and enable to penetrate faster across pan-India Business models SOCE Performance in Q3 FY24 in MNs Franchise Owned – Shalby Operated (FOSO) Revenue FOSO FOSM Total Q3-24 14.1 7.4 21.4 1. The franc
Slide 23: Shalby Academy
SHALBY ACADEMY 22
Slide 24: Shalby Academy
Shalby Academy Q3 FY24 highlights Students Enrolled (In Nos) 1. More than 410+ students registered in Q3 FY24 in various disciplines 2,062 like Physiotherapy, Nursing, Lab Technician Nutrition & dietetics, Clinical, Paramedics, Hospital Management, and Pharmacy as part of 1,454 their academic outrea
Slide 25: Implant Business
CO IMPLANT BUSINESS i 3 = in ole Shalby Advanced “e\ fe). Technologies Inc.
Slide 26: Diversified into Knee and Hip Implant Manufacturing In California, USA
Diversified into Knee and Hip Implant Manufacturing In California, USA Backward integration in Orthopedics with Inhouse capacity to consume in India 80,000+ Vertically integrated In- Components High Quality US FDA house manufacturing Manufacturing Approved Implants Facility capacity Surgeon’s Traini
Slide 27: Implant Business Performance Q3 FY24
Implant Business Performance Q3 FY24 Total Constructs EBITDA Revenue Sold Rs. 215 mn Rs. 1.9 mn 2,630+ Geographical Sales Mix USA Customer Sales Mix Product Sales Mix USA, Wholesale, 43% 41% Hip, 29% Q3 FY24 Q3 FY24 Q3 FY24 Knee, India, Retail,59% 71% 57% 26
Slide 28: 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 29: About Shalby
SHALBY CO ABOUT SHALBY 28
Slide 30: Shalby At A Glance
Shalby At A Glance OPD clinics Presence 16 60 16 Orthopedic Implant Hospitals1 Domestic International2 Manufacturing in USA 30 Strength 2,150+ 4,300+ 1,100+ Years of Legacy Bed Capacity Total Employees3 Doctors4 Team Clinical Excellence #1 30+ ~3.2 million+ 150,000+ Global Ranking in Specialties Pat
Slide 31: 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 32: 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 • Sanar, Gurugram 27 beds • Krishna Shalby, Ahmedabad (220 • Zynova1 Shalby, Mumbai
Slide 33: 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 32
Slide 34: Franchise Hospital Portfolio
Franchise Hospital Portfolio Shalby Orthopedics Centre of Excellence Multispecialty Vijay Shalby Lucknow Shalby Zynova Shalby (Mumbai) (Shalby Operated) (Shalby Operated) (Shalby Managed) Udaipur Shalby Gwalior Shalby Ranchi Shalby (Shalby Managed) (Shalby Managed) (Shalby Managed) SOCE- Shalby Orth
Slide 35: 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 Jharkhand GUJARAT Ranchi – 60 beds Ahmedabad o SG – 201 beds o Krishna – 220 beds o Naroda –
Slide 36: Shalby Sanar International Hospital, Gurugram: Synopsys
Shalby Sanar International Hospital, Gurugram: Synopsys 35
Slide 37: Shalby Sanar International Hospital, Gurugram: Synopsys
Shalby Sanar International Hospital, Gurugram: Synopsys • Invested Rs 102 crs (appx) by way of Primary and Secondary Equity shares acquisition with a control of 87.26% stake on 25th Jan 2024. • Shalby’s strategy to accelerate its presence in the Delhi/NCR region with the vision to scale up internati
Slide 38: Shalby Sanar International Hospital, Gurugram: State of Art Facility
Shalby Sanar International Hospital, Gurugram: State of Art Facility • 130 Beds (With 47 ICU Beds) • 7 Beds Dialysis Unit • 14 Dedicated BMT Rooms • 4 Customized Modular OT’s (Including Transplant OT’s) • 1 Cath Lab • 7 Beds Dedicated Emergency Facility with 1 OT. • Endoscopy Suite • Dedicated Non-I
Slide 39: Shalby Sanar International Hospital, Gurugram: International Centers
Shalby Sanar International Hospital, Gurugram: International Centers List of Countires having Sanar Centers • Ethiopia • Iraq • Kenya • Kyrgyzstan • Sulemania • Tajikistan • Uzbekistan 38
Slide 40: Shalby Sanar International Hospital, Gurugram: Business Highlights
Shalby Sanar International Hospital, Gurugram: Business Highlights FY-24 CURRENT REVENUE STREAMS Particulars FY-23 (Dec-23 YTD) Registration Nos 13585 17814 43% 32% 15% OPD’s Nos. 14603 13718 Middle East India Africa Admission Nos. 3298 2915 OT Procedure Nos. 964 983 8% 1% 1% CIS SAARC Others Cathla
Slide 41: Healthcare Awareness Programs
Sustainability Initiatives ESG Mindset “We at Shalby are embracing sustainability to drive new values to our business” Community Connect 315+ Healthcare Camps Trainings Healthcare Awareness Programs Workplace Wellness 15000+ Life impacted 8,960+ and 3,590+ Man Hours Clinical and Non-Clinical trainin
Slide 42: Experienced Board Of Directors
Experienced Board Of Directors Dr. Ashok Bhatia Mr. Tej Malhotra Ms. Sujana Shah Independent Independent Independent Director Director Director Dr. Ashok Bhatia, a senior pharma professional has Mr. Malhotra boasts four decades of international and Mrs. Sujana Shah, a practicing Chartered Accountant
Slide 43: Shalby Awards and Accolades
Shalby Awards and Accolades Healthcare personality of the year 2023 Entrepreneur of the year, 15th FICCI Healthcare Excellence Award Hurun, UK Mr. Shanay shah, shalby's president, awarded by Medgate Today Healthcare Award 2023 for business world healthcare Single Specialty of the Year in Orthopedics
Slide 44: Shalby In News
Shalby In News . - : i SHALBY We emphasise on giving accurate sr] bs taser ee sinner treatment at the right time: Docs tonto es arevent metlicalattent Diabetes rising among the young wee cstmesrecncom (GUJARAT: AN NCD SNAPSHOT ammeana: mas nas | QOGgmme |mnsounsmanostee been eeorttipretsaclenin 05er
Slide 45: Disclaimer and Contact Details
DISCLAIMER and CONTACT DETAILS No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as