Shalby Ltd. (IN:SHALBY)
:SHALBY
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Shalby Ltd.
(SHALBY)
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Rating:50Neutral
Price Target:
₹127.00
▼(-37.38% Downside)
Action:Reiterated
Date:03/05/26
The score is held back primarily by weak cash flow and a sharp profitability decline, alongside bearish technicals with the stock trading below key moving averages. Strong revenue growth and a relatively solid equity base provide partial support, but valuation is challenging due to an extremely high P/E and only a modest dividend yield.
Positive Factors
Consistent Revenue Growth
Sustained top-line expansion indicates growing patient volumes and increased service uptake across the hospital network. Over 2-6 months this supports capacity utilization, improves bargaining leverage with payors and suppliers, and provides a foundation for reinvestment and scale-driven efficiencies.
Negative Factors
Margin Compression
Sharp contraction in gross and net margins signals rising cost pressures or weaker pricing power. Sustained margin erosion reduces retained earnings available for reinvestment, hurts return on equity, and impairs the company's capacity to fund growth from operating profits over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained top-line expansion indicates growing patient volumes and increased service uptake across the hospital network. Over 2-6 months this supports capacity utilization, improves bargaining leverage with payors and suppliers, and provides a foundation for reinvestment and scale-driven efficiencies.
Read all positive factors
Shalby Ltd. (SHALBY) vs. iShares MSCI India ETF (INDA)
Market Cap
₹18.59B
Dividend Yield0.59%
Average Volume (3M)71.31K
Price to Earnings (P/E)48.4
Beta (1Y)1.28
Revenue Growth5.01%
EPS Growth618.23%
CountryIN
Employees2,853
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.19
Shares Outstanding108,009,766
10 Day Avg. Volume22,132
30 Day Avg. Volume71,313
Financial Highlights & Ratios
PEG Ratio-3.76
Price to Book (P/B)2.18
Price to Sales (P/S)1.99
P/FCF Ratio-21.06
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4
Revenue Forecast (FY)₹11.94B
Shalby Ltd. Business Overview & Revenue Model
Company Description
Shalby Limited operates multi-specialty hospitals primarily in India. The company offers arthroscopy, arthroplasty, cardiology, cardiothoracic and vascular surgery, cosmetic and aesthetic, dental cosmetic and implant ology, emergency medicine, end...
How the Company Makes Money
Shalby primarily makes money by delivering hospital services to patients through its network of hospitals. Its revenue model is centered on (1) inpatient services such as admissions, surgeries (including orthopaedic/joint replacement procedures), ...
Shalby Ltd. Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.22B | 10.87B | 9.34B | 8.05B | 6.99B | 4.31B |
| Gross Profit | 4.00B | 2.02B | 2.50B | 3.70B | 3.05B | 1.81B |
| EBITDA | 1.60B | 1.60B | 1.90B | 1.61B | 1.30B | 947.61M |
| Net Income | 44.77M | 62.22M | 840.77M | 677.01M | 541.25M | 423.96M |
Balance Sheet | ||||||
| Total Assets | 17.82B | 17.04B | 16.08B | 12.81B | 11.94B | 9.97B |
| Cash, Cash Equivalents and Short-Term Investments | 1.31B | 1.29B | 1.08B | 2.16B | 2.02B | 1.29B |
| Total Debt | 5.35B | 4.76B | 3.78B | 1.81B | 1.74B | 541.27M |
| Total Liabilities | 7.80B | 7.08B | 6.00B | 3.54B | 3.17B | 1.62B |
| Stockholders Equity | 10.02B | 9.92B | 10.00B | 9.28B | 8.76B | 8.35B |
Cash Flow | ||||||
| Free Cash Flow | -671.45M | -1.03B | -275.11M | 492.90M | -564.77M | 577.89M |
| Operating Cash Flow | 138.47M | -313.01M | 195.96M | 677.73M | 189.17M | 843.49M |
| Investing Cash Flow | -692.97M | -433.53M | 380.73M | -610.59M | -602.82M | -569.70M |
| Financing Cash Flow | 396.33M | 822.58M | -1.51B | -500.24M | 904.59M | -293.57M |
Shalby Ltd. Technical Analysis
Positive
202.80
Price Trends
154.91
Positive
162.71
Positive
192.46
Negative
Market Momentum
4.00
Negative
62.28
Neutral
74.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHALBY, the sentiment is Positive. The current price of 202.8 is above the 20-day moving average (MA) of 165.19, above the 50-day MA of 154.91, and above the 200-day MA of 192.46, indicating a neutral trend. The MACD of 4.00 indicates Negative momentum. The RSI at 62.28 is Neutral, neither overbought nor oversold. The STOCH value of 74.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SHALBY.
Shalby Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹1.19T | 61.30 | ― | 0.27% | 15.76% | 34.29% | |
67 Neutral | ₹725.29B | 69.74 | ― | 0.11% | 17.28% | 34.55% | |
66 Neutral | ₹325.10B | 58.51 | ― | 0.04% | 19.44% | 15.55% | |
63 Neutral | ₹383.95B | 98.38 | ― | 0.84% | 12.20% | -93.03% | |
61 Neutral | ₹968.52B | 67.09 | ― | 0.14% | 19.14% | 34.04% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | ₹18.59B | 48.42 | ― | 0.59% | 5.01% | 618.23% |
* Healthcare Sector Average
IN:SHALBY
Shalby Ltd.
172.10
-24.35
-12.40%
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Shalby Ltd. Corporate Events
Shalby Subsidiary Hospital in Gurugram Secures NABH 6th Edition Accreditation
Mar 3, 2026
Shalby Limited has announced that its subsidiary PK Healthcare Private Limited, which operates Shalby International Hospitals in Gurugram, has received accreditation under the 6th Edition standards of the National Accreditation Board for Hospitals...
Shalby Files SEBI Regulation 74(5) Compliance Certificate for December Quarter
Jan 6, 2026
Shalby Limited has filed a confirmation certificate for the quarter ended December 31, 2025, in compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, confirming that details of securities dematerialised an...
Shalby Reports Nil Physical Share Transfer Re‑lodgement Requests for December 2025
Jan 6, 2026
Shalby Limited has reported to the NSE and BSE that, under SEBI’s special window for re-lodgement of transfer requests of physical shares for December 2025, it did not receive, process, approve or reject any such requests, with the data tabl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.