Conference Call with Shalby Ltd. Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Healthcare Facilities company Shalby announced Q1FY24 results: Consolidated Q1FY24: Revenues of Rs 2,400 million, growth of 15% QoQ and 17% YoY EBITDA of Rs 477 million, growth of 37% QoQ and 8% YoY PBT of Rs 330 million, growth of 72% QoQ and 8% YoY Basic EPS of Rs 1.94 during the quarter, growth of 50% QoQ Standalone Q1FY24: Revenues of Rs 2,164 million, growth of 18% QoQ and 20% YoY EBITDA of Rs 497 million, growth of 36% QoQ and 16% YoY PBT of Rs 400 million, growth of 51% QoQ and 22% YoY EBITDA margin of 23% in Q1FY24 v/s 20% in Q4FY23 and 23.6% in Q1FY23 In-patient count (incl. Day Care) of 20,661, growth of 11% QoQ and 24% YoY Total Surgery count of 8,183, growth of 25% QoQ and 14% YoY Occupancy rate at 50% in Q1FY24 v/s 46% in Q4FY23 and 45% in Q1FY23 ARPOB during the quarter was 38,000, a growth of 9% QoQ and 8% YoY Shanay Shah, President, Shalby, said: “I am very happy to report that this quarter reflected our best hospital business performance so far, across most financial and operating parameters, recording significant growth year-on-year and quarter-on-quarter. I am also proud to say that Shalby has achieved a landmark of 150,000 joint replacement surgeries (since inception) in Q1FY24 and with this we continue to maintain the leadership position in global volumes in the Orthopedics segment. Our hospital business continued to grow high double-digit in the key metrics of In-Patient counts and surgery counts, growing by 24% and 14% respectively YoY in Q1FY24. Our hospital occupancy levels improved by 12% YoY and 8% QoQ and recorded a 50% occupancy rate in Q1FY24. ARPOB and ALOS were recorded at Rs 38,000 and 3.97 respectively in Q1FY24 vis-à-vis Rs 35,304 and 4.08 in the same quarter of the previous year. Hospital revenue and EBITDA also grew by 18% and 36% QoQ respectively and 20% and 16% YoY respectively with a robust EBITDA margin of 23% in Q1FY24 v/s 20% in Q4 FY23. Our core specialties like Arthroplasty, Oncology, Cardiac Science, Orthopedic, Critical care & General Medicine, and Neurology contributed 85% to the revenues in Q1FY24. Our Homecare business demonstrated a strong performance in Q1FY24, growing by 70% YoY and 30% QoQ. International revenue continued to grow in Q1FY24 from Q1FY23 whereby the majority of the patients came from East African countries. Shalby also takes pride in nurturing young talent through our Shalby Academy vertical with 290+ students registered in the various healthcare programs during Q1FY24. Realized Return on Capital Employed from hospital business recorded at 20% in Q1FY24 on an annualized basis. We have closed the quarter with a net cash balance of Rs 806 million at the group level and are well-positioned to fund our strategic growth plans. Shalby continued to add many milestones backed by clinical excellence and patient care. We remain committed to making a positive difference in people's lives." Result PDF
Healthcare Facilities company Shalby announced Q4FY23 & FY23 results: Consolidated Q4FY23: Revenues of Rs 2,082 million, growth of 25% YoY EBITDA of Rs 348 million, growth of 23% YoY Profit After Tax was Rs 139 million, growth of 37% YoY Occupied Bed during the quarter were 579, growth of 16% YoY In patient count (incl. Day Care) of 18,551, growth of 24% YoY Total Surgery count of 6,553, growth of 18% YoY Consolidated FY23: Consolidated Revenues of Rs 8,274 million, growth of 16% YoY Consolidated EBITDA of Rs 1,593 million, growth of 20% YoY Consolidated Profit After Tax was Rs 677 million, growth of 25% YoY In patient count (incl. Day Care) of 71,893, growth of 18% YoY Total Surgery count of 27,352, growth of 35% YoY ARPOB for full year was 34,842, growth of 11% YoY Net cash (after deducting debt) at group level stood at Rs 712 million in FY23 v/s Rs 475 mn in FY22 Board has declared dividend of Rs 1.20 per share (12% of face value) Mr. Shanay Shah, President said: “I am happy to report that our hospital business continued to deliver consistent performance in all key operational and financial parameters with surgery count and In-patient count (Incl day care) grew by 35% and 18% YoY respectively in full year FY23. Hospital revenue (Rs.7,274 mn) and EBITDA (Rs.1615 mn) grew by 11% and 13% YoY with robust EBITDA margin of 22% in full year FY23. ARPOB and ALOS were recorded at Rs.34,842 and 3.92 respectively in FY23 vis-à-vis Rs 31,347 and 4.55 in the previous year. Our core specialties such as Arthroplasty, Oncology, Cardiac Science, Orthopedic, Critical care & General Medicine, Neurology and Nephrology contributed 88% to the revenues respectively in FY23. International revenue of Rs. 104 million in FY23 grew by 144% YoY from FY22 whereby majority of the patients came from East African countries. Our homecare business also showed a strong performance with revenue grew by 38% YoY in FY23 at Rs.9.8 million, from FY22. The Shalby Academy vertical also showed an encouraging response with 2000+ students enrolled for various healthcare programs during FY23. Our Realized Return on Capital Employed from hospital business recorded at 16% in FY23 on an annualized basis v/s 14% in FY22. We have closed the quarter with a net cash balance of Rs. 712 million at the group level and are well positioned to fund our strategic growth plans. Shalby continued to add many milestones backed by clinical excellence and patient satisfaction and we feel proud to make a positive difference in people’s lives." Result PDF