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Healthcare Facilities company Shalby announced Q4FY24 results:

• Consolidated Revenue at Rs 2,492 million in Q4 FY24 grew by 19.7% YoY
• Consolidated EBITDA at Rs 439 million in Q4 FY24 grew by 26.1% YoY
• Consolidated PAT at Rs 168 million in Q4 FY24 grew by 42% YoY
• Basic EPS of Rs 1.49 during the quarter, growth of 15.5% YoY
• Occupied Bed during the quarter were 637, growth of 10.0% YoY
• In patient count (incl. Day Care) of 21,313, growth of 14.9% YoY
• ARPOB during the quarter was 39,101, growth of 12.1% YoY

Shanay Shah, President said: It has been a landmark here for the company, we have completed 30 years of operations in this year. The company continued to show a steady performance in FY 24 with a revenue of 953 crores and an EBITDA of 197 crores which is a growth of 15% and 23% respectively from the last financial year.

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 Pvt. Ltd. (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.

Our Homecare business exhibited robust growth, increasing by 36% year-on-year in Q4 FY24 compared to Q4 FY23. Additionally, our Shalby Academy vertical witnessed an encouraging response, with over 395 students enrolled in various healthcare programs during Q4 FY24.

Furthermore, our Realized Return on Capital Employed from the hospital business stood at 18% in FY24 on an annualized basis. 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.

Shalby has continued to achieve numerous milestones driven by clinical excellence and patient satisfaction, and we take pride in making a positive impact on people's lives.

Deepak Ananthakrishnan, Global Chief Business Officer said: During the fourth quarter of this financial year, our implant business made significant progress, generating revenues of Rs 258 million, 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. The reception of our Shalby-Consensus implants in our hospitals has been highly positive, and we have received additional orders from the Indonesian market.

With our key strategies firmly in place, our team is fully dedicated to executing these plans flawlessly. Shalby is well-positioned to achieve double-digit growth in the hospital business with sustainable profitability, while also expanding and deepening our presence by adding Orthopedic units under SOCE. These efforts will ultimately drive the creation of sustainable value for all stakeholders at Shalby.

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