Key metrics
Price as of 2026-10-16
Stock price
₹128.95
Market cap
1,387 Cr
Stock P/E
35.3
P/B
1.38
Dividend yield
0.9%
ROE (FY26)
3.7%
ROCE (FY26)
6.4%
Operating margin (FY26)
6.4%
Debt / equity (FY26)
0.54
OCF / EBITDA (FY26)
-0.0%
OCF / EBITDA (3Y)
3.4%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Shalby runs multi-specialty hospitals in India, best known for joint replacement, and makes and sells orthopedic implants through its Shalby MedTech arm in India, North America, Japan and Indonesia.
Company snapshot
21stBy market cap
Ranked among 24 companies in Hospital.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 90.3% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Healthcare Services | 90.3% | 249 Cr | 20 Cr | 1,404 Cr |
| Manufacturing of Implants | 9.7% | 27 Cr | -8 Cr | 387 Cr |
What we see
Concerns
- ✗Only 3% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 238 Cr | 216 Cr | 244 Cr | 279 Cr | 268 Cr | 276 Cr | 265 Cr | 296 Cr | 285 Cr | 272 Cr | 287 Cr | 331 Cr |
| Operating expenses (approx.) | 185 Cr | 174 Cr | 205 Cr | 234 Cr | 235 Cr | 242 Cr | 244 Cr | 255 Cr | 244 Cr | 242 Cr | 258 Cr | 290 Cr |
| EBITDA | 53 Cr | 42 Cr | 39 Cr | 45 Cr | 33 Cr | 34 Cr | 21 Cr | 42 Cr | 42 Cr | 30 Cr | 29 Cr | 42 Cr |
| OPM % | 22.2% | 19.6% | 15.9% | 16.2% | 12.2% | 12.3% | 7.9% | 14.0% | 14.6% | 11.1% | 10.2% | 12.6% |
| Other income | 5 Cr | 5 Cr | 5 Cr | 10 Cr | 7 Cr | 5 Cr | 5 Cr | 7 Cr | 4 Cr | 7 Cr | 8 Cr | 7 Cr |
| Interest | 3 Cr | 4 Cr | 6 Cr | 8 Cr | 9 Cr | 11 Cr | 11 Cr | 9 Cr | 10 Cr | 11 Cr | 9 Cr | 11 Cr |
| Depreciation | 12 Cr | 12 Cr | 16 Cr | 16 Cr | 17 Cr | 16 Cr | 16 Cr | 17 Cr | 17 Cr | 18 Cr | 18 Cr | 19 Cr |
| Profit before tax | 43 Cr | 31 Cr | 22 Cr | 30 Cr | 14 Cr | 12 Cr | -0.74 Cr | 23 Cr | 19 Cr | 9 Cr | 10 Cr | 20 Cr |
| Tax % | 35.3% | 38.1% | 26.4% | 51.5% | 82.8% | 124.2% | -1549.3% | 66.1% | 61.8% | 86.2% | -92.1% | 46.7% |
| Net profit | 28 Cr | 19 Cr | 16 Cr | 15 Cr | 2 Cr | -3 Cr | -12 Cr | 8 Cr | 7 Cr | 1 Cr | 18 Cr | 10 Cr |
| EPS (₹) | ₹2.57 | ₹1.78 | ₹1.49 | ₹1.37 | ₹0.22 | ₹-0.28 | ₹-1.13 | ₹0.71 | ₹0.68 | ₹0.12 | ₹1.72 | ₹0.98 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 324 Cr | 383 Cr | 461 Cr | 487 Cr | 431 Cr | 699 Cr | 805 Cr | 934 Cr | 1,087 Cr | 1,141 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 253 Cr | 300 Cr | 380 Cr | 405 Cr | 344 Cr | 579 Cr | 668 Cr | 757 Cr | 954 Cr | 999 Cr | Sign in free for the trailing twelve months |
| EBITDA | 71 Cr | 83 Cr | 81 Cr | 82 Cr | 86 Cr | 120 Cr | 137 Cr | 177 Cr | 133 Cr | 143 Cr | Sign in free for the trailing twelve months |
| OPM % | 21.9% | 21.8% | 17.6% | 16.8% | 20.1% | 17.2% | 17.0% | 19.0% | 12.2% | 12.5% | Sign in free for the trailing twelve months |
| Other income | 7 Cr | 9 Cr | 10 Cr | 17 Cr | 9 Cr | 12 Cr | 23 Cr | 19 Cr | 28 Cr | 27 Cr | Sign in free for the trailing twelve months |
| Interest | 11 Cr | 12 Cr | 7 Cr | 6 Cr | 4 Cr | 6 Cr | 9 Cr | 16 Cr | 39 Cr | 39 Cr | Sign in free for the trailing twelve months |
| Depreciation | 17 Cr | 23 Cr | 33 Cr | 36 Cr | 37 Cr | 43 Cr | 48 Cr | 52 Cr | 66 Cr | 70 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 50 Cr | 57 Cr | 50 Cr | 57 Cr | 55 Cr | 79 Cr | 102 Cr | 128 Cr | 56 Cr | 61 Cr | Sign in free for the trailing twelve months |
| Tax % | 43.2% | 25.4% | 37.2% | 51.4% | 23.1% | 31.8% | 33.7% | 34.9% | 96.6% | 42.7% | Sign in free for the trailing twelve months |
| Net profit | 29 Cr | 43 Cr | 32 Cr | 28 Cr | 42 Cr | 54 Cr | 68 Cr | 83 Cr | 2 Cr | 35 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹3.40 | ₹2.85 | ₹2.93 | ₹2.55 | ₹3.92 | ₹5.00 | ₹6.31 | ₹7.78 | ₹0.18 | ₹3.23 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 12.7% | 20.0% | 16.0% | 15.5% | 675.1% | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 87 Cr | 108 Cr | 108 Cr | 108 Cr | 108 Cr | 108 Cr | 107 Cr | 107 Cr | 107 Cr | 108 Cr |
| Reserves | 164 Cr | 653 Cr | 672 Cr | 691 Cr | 727 Cr | 768 Cr | 820 Cr | 893 Cr | 885 Cr | 898 Cr |
| Borrowings | 311 Cr | 91 Cr | 57 Cr | 49 Cr | 36 Cr | 174 Cr | 181 Cr | 314 Cr | 427 Cr | 540 Cr |
| Other liabilities | 116 Cr | 118 Cr | 102 Cr | 119 Cr | 126 Cr | 143 Cr | 173 Cr | 286 Cr | 282 Cr | 294 Cr |
| Total liabilities | 679 Cr | 970 Cr | 939 Cr | 967 Cr | 997 Cr | 1,194 Cr | 1,281 Cr | 1,608 Cr | 1,704 Cr | 1,839 Cr |
| Fixed assets (net) | 321 Cr | 640 Cr | 681 Cr | 662 Cr | 646 Cr | 656 Cr | 668 Cr | 840 Cr | 848 Cr | 922 Cr |
| CWIP | 221 Cr | 46 Cr | 2 Cr | 3 Cr | 4 Cr | 5 Cr | 6 Cr | 15 Cr | 8 Cr | 0.39 Cr |
| Investments | 0.11 Cr | 0.11 Cr | 11 Cr | 28 Cr | 16 Cr | 25 Cr | 146 Cr | 81 Cr | 95 Cr | 62 Cr |
| Loans & advances | — | — | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 11 Cr | 0 Cr | 0 Cr |
| Inventories | 8 Cr | 12 Cr | 13 Cr | 15 Cr | 23 Cr | 121 Cr | 185 Cr | 235 Cr | 319 Cr | 376 Cr |
| Trade receivables | 34 Cr | 61 Cr | 81 Cr | 95 Cr | 88 Cr | 101 Cr | 106 Cr | 145 Cr | 175 Cr | 228 Cr |
| Cash & bank | 12 Cr | 12 Cr | 5 Cr | 8 Cr | 6 Cr | 56 Cr | 12 Cr | 27 Cr | 35 Cr | 22 Cr |
| Other assets | 84 Cr | 199 Cr | 146 Cr | 155 Cr | 214 Cr | 231 Cr | 157 Cr | 254 Cr | 224 Cr | 227 Cr |
| Total assets | 679 Cr | 970 Cr | 939 Cr | 967 Cr | 997 Cr | 1,194 Cr | 1,281 Cr | 1,608 Cr | 1,704 Cr | 1,839 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 60 Cr | 14 Cr | 43 Cr | 55 Cr | 84 Cr | 19 Cr | 68 Cr | 20 Cr | -4 Cr | -0.0080 Cr |
| Cash from investing | -153 Cr | -237 Cr | 1 Cr | -31 Cr | -57 Cr | -60 Cr | -61 Cr | 38 Cr | -36 Cr | -97 Cr |
| Cash from financing | 96 Cr | 222 Cr | -51 Cr | -21 Cr | -29 Cr | 90 Cr | -50 Cr | -151 Cr | 48 Cr | 84 Cr |
| Net cash flow | 3 Cr | -0.35 Cr | -6 Cr | 3 Cr | -2 Cr | 49 Cr | -43 Cr | -93 Cr | 8 Cr | -13 Cr |
| Free cash flow (OCF − Capex) | -98 Cr | -124 Cr | 12 Cr | 36 Cr | 58 Cr | -56 Cr | 49 Cr | -28 Cr | -76 Cr | -149 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 10.9% | 8.2% | 6.9% | 7.4% | 6.7% | 8.1% | 10.0% | 10.9% | 6.6% | 6.4% |
| ROE % | 11.8% | 5.6% | 4.1% | 3.5% | 5.1% | 6.2% | 7.3% | 8.3% | 0.6% | 3.7% |
| Debtor days | 38 | 58 | 64 | 71 | 74 | 53 | 48 | 57 | 59 | 73 |
| Inventory days | 9 | 11 | 66 | 77 | 122 | 332 | 397 | 2685 | 1254 | 2114 |
| Days payable | 44 | 45 | 288 | 305 | 304 | 194 | 188 | 1479 | 465 | 722 |
| Cash conversion cycle | 2 | 24 | -158 | -156 | -108 | 191 | 257 | 1262 | 847 | 1465 |
| OCF / EBITDA % | 85.1% | 16.7% | 53.5% | 67.7% | 97.6% | 15.8% | 49.6% | 11.1% | -3.3% | -0.0% |
| OCF / EBITDA % (3 years) | — | — | 50.0% | 45.8% | 73.5% | 55.1% | 49.8% | 24.5% | 18.6% | 3.4% |
| Debt / equity | 1.24 | 0.12 | 0.07 | 0.06 | 0.04 | 0.20 | 0.19 | 0.31 | 0.43 | 0.54 |
| Current ratio | 0.69 | 2.02 | 2.21 | 2.73 | 3.24 | 2.58 | 2.80 | 1.71 | 1.45 | 1.25 |
| Net debt / EBITDA | 4.22 | — | 0.64 | 0.49 | 0.34 | 0.99 | 1.23 | 1.62 | 2.96 | 3.63 |