Shalby announced that its consolidated net profit jumped 15.41% to Rs 16.04 crore on 22.74% increase in revenue from opertaions to Rs 244.23 crore in Q4 FY24 over Q4 FY23.
Profit before tax stood at Rs 21.78 crore in Q4 FY24, up 13.50% YoY and down 29.31% QoQ.EBITDA jumped 26.1% YoY to Rs 43.9 crore during the quarter.
During the quarter, the company's revenue from healthcare services segment grew by 20.54% YoY to Rs 218.42 crore while its revenue from its business of manufacturing implants surged 45.08% YoY to Rs 25.81 crore.
In Q4 FY24, occupied beds were 637, up 10.0% YoY. In patient count (including Day Care) stood at 21,313, registering the growth of 14.9% YoY. Average revenue per occupied bed (ARPOB) was 39,101, growth of 12.1% YoY.
On full year basis, the company's consolidated net profit jumped 23.37% to Rs 834.97 crore on 16% increase in revenue from operations to Rs 933.74 crore in FY24 over FY23.
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Shanay Shah, President, Shalby, said: I'm pleased to announce that our hospital business has maintained consistent performance across key operational and financial metrics, witnessing a 10.0% increase in occupancy and a 14.9% rise in in-patient count (including day care) year-on-year in Q4 FY24.
Additionally, hospital revenue and EBITDA grew by 14.8% and 16.8% respectively, with a robust EBITDA margin of 20.2% in the same period. Notably, ARPOB and ALOS stood at Rs.39,101 and 3.75 respectively in Q4 FY24, compared to Rs. 34,867 and 4.01 in the corresponding quarter of the previous year. Our core specialties, including Arthroplasty, Oncology, Cardiac Science, Orthopedic, Critical Care & General Medicine, and Neurology, collectively contributed 82% to the revenues in Q4 FY24.
We are pleased to announce our strategic foray into northern India through the acquisition of 100% stake in Healers Hospital (Land & Building of Sanar). Sanar International hospital, with an operational capacity of 130 Beds, offers advanced surgical care across specialties such as Oncology, Cardiology, Bone Marrow Transplant, Kidney & Liver Transplant, Bone & Joint, and Neurosciences, with 70% business from international markets serving over 60 countries.
As of the quarter's close, our net debt balance at the group level amounted to Rs. 1,557 million, with a net cash balance of Rs. 220 million at the standalone level, reinforcing our ability to support strategic growth initiatives.
Deepak Ananthakrishnan, global chief business officer, Shalby, said: During the fourth quarter of this financial year, our implant business made significant progress, generating revenues of Rs 25.8 crore, with contributions from the USA and India at 41% and 59% respectively. In Q4 FY24, our US customer sales mix from retail and wholesale remained at 55% and 45% respectively.
We are actively focused on bolstering our team with skilled professionals, transitioning our sales mix to retail customers from wholesale, enhancing operational capacity and efficiency, expanding our product pipeline through extensive research and development efforts, and significantly reducing procurement costs.
Meanwhile, the companys board has declared a final dividend of Rs 1.20 per share for the financial year ending 31 March 2024.
Further, the companys board has approved to operationalize the B2B supply chain business Hosply, through the offline as well as online platform. The business will involve surgical supplies to hospitals.
Furthermore, the company has approved to make operationalize Bone Bank & Tissue Bank business through its subsidiary for preservation and supplying bones and tissues to the patients.
Shalby is the largest chain of multi-specialty hospitals in Western and Central India. It was founded by arthroplasty specialist, Dr. Vikram Shah. It performs more than 14,000 joint replacement surgeries a year and in the last 29 years has performed more than 1,45,000 joint replacements. It operates under three main verticals, namely, hospital business, Shalby Orthopedics Centre of Excellence (SOCE) franchise and implant business.
Shares of Shalby slipped 3.57% to Rs 269.85 on the BSE.
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