SHALBY.NS(SHALBY.NS)

$160.36—Earnings · Aug 5

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SHALBY.NS(SHALBY.NS)

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$160.36—Earnings · Aug 5

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SHALBY.NS(SHALBY.NS)

SHALBY.NS

Overview Notebook Intelligence Chart History Fundmntls TTM Earnings Analysts News Financials Segments Insiders Institl.DCF Peers

7/24/26

SHALBY (SHALBY.NS)

Friday

1:05 AM

Thesis: Shalby: the story is balanced — Bed occupancy rates across the hospital network - target 65-70% for mature hospitals versus current portfolio average

Revenue Outlook

Metric	FY2026	FY2027E	FY2028E
Revenue	$11.4B	$12.1B	$13.5B
Rev. Growth	+5.0%	+6.1%	+11.3%
EPS	$3.23	$2.40	$4.10
EPS Growth	+457%	-25.7%	+70.8%
P/E (fwd)	49.9×	67.1×	39.3×

★ Analysts see FY2028 revenue reaching $13.5B — +11.3% growth in a single year.

What Moves the Stock

1Bed occupancy rates across the hospital network - target 65-70% for mature hospitals versus current portfolio average
2ARPOB (Average Revenue Per Occupied Bed) growth driven by case mix shift toward higher-margin procedures like cardiac surgeries and oncology
3New hospital openings and brownfield expansions - capex intensity and time-to-breakeven (typically 36-48 months)
4Insurance penetration and government scheme enrollment (Ayushman Bharat) affecting payor mix and realization rates
5Regulatory changes affecting hospital licensing, drug pricing, or medical device costs
6Inpatient services (estimated 65-70% of revenue) - surgeries, procedures, room charges across orthopedics, cardiology, oncology
7Outpatient services (estimated 20-25%) - consultations, diagnostics, day-care procedures
8Pharmacy and ancillary services (estimated 5-10%) - in-house pharmacy sales, diagnostic imaging

FY2026 Snapshot

Revenue: $11.4B
Rev. Growth: +5.0%
Gross Margin: 18.3%
Op. Margin: 6.4%
Net Margin: 3.3%
Net Income: $374M
NI Growth: +501%
EPS: $3.23
1Y Return: -16.1%

My Notes

growth - Investors are attracted to India's structural healthcare demand story (underpenetrated market, rising incomes…
Rising interest rates negatively impact Shalby through two channels: (1) higher financing costs on the 0.53x debt/equity used to fund…
Watch on earnings: India GDP growth rate as proxy for middle-class expansion and healthcare affordability, Ayushman Bharat enrollment numbers and per-procedure reimbursement rates, Medical device import costs (knee/hip implants largely imported) tied to USD/INR exchange rate.

One Sentence Summary:

Shalby: the story is balanced — bed occupancy rates across the hospital network - target 65-70% for mature hospitals versus current portfolio average.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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Metric

FY2026

FY2027E

FY2028E

P/E (fwd)

49.9×

67.1×

39.3×

What Moves the Stock

1Bed occupancy rates across the hospital network - target 65-70% for mature hospitals versus current portfolio average

2ARPOB (Average Revenue Per Occupied Bed) growth driven by case mix shift toward higher-margin procedures like cardiac surgeries and oncology

3New hospital openings and brownfield expansions - capex intensity and time-to-breakeven (typically 36-48 months)

4Insurance penetration and government scheme enrollment (Ayushman Bharat) affecting payor mix and realization rates

5Regulatory changes affecting hospital licensing, drug pricing, or medical device costs

6Inpatient services (estimated 65-70% of revenue) - surgeries, procedures, room charges across orthopedics, cardiology, oncology

7Outpatient services (estimated 20-25%) - consultations, diagnostics, day-care procedures

8Pharmacy and ancillary services (estimated 5-10%) - in-house pharmacy sales, diagnostic imaging

My Notes

growth - Investors are attracted to India's structural healthcare demand story (underpenetrated market, rising incomes…

Rising interest rates negatively impact Shalby through two channels: (1) higher financing costs on the 0.53x debt/equity used to fund…

Watch on earnings: India GDP growth rate as proxy for middle-class expansion and healthcare affordability, Ayushman Bharat enrollment numbers and per-procedure reimbursement rates, Medical device import costs (knee/hip implants largely imported) tied to USD/INR exchange rate.

SHALBY (SHALBY.NS)

Revenue Outlook

What Moves the Stock

SHALBY.NS Chart

My Notes

One Sentence Summary:

Explore More

SHALBY (SHALBY.NS)

Revenue Outlook

What Moves the Stock

SHALBY.NS Chart

My Notes

One Sentence Summary: