MarketFriction

Shalby Ltd

NSE SHALBY · BSE 540797 · Hospital
₹133.55 -3.68%
NSE close2026-10-01
52 week range125.82 - 273.00
Market cap₹1,532 Cr.
P/E39.0
IPO 2017 · -46% since Price band 20% Delivery 52.9%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales238216244279268276265296285272287331
Expenses185174205234235242244255244242258290
Operating Profit534239453334214242302942
OPM %22%20%16%16%12%12%8%14%15%11%10%13%
Other Income5551075574787
Interest34689111191011911
Depreciation121216161716161717181819
Profit before tax433122301412-1231991020
Tax %35%38%26%52%83%124%1,547%66%62%86%-92%47%
Net Profit281916152-3-128711810
EPS in Rs2.551.771.541.450.31-0.17-1.020.830.780.161.701.00
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2903243784624874316998059341,0871,1411,176
Expenses2352522993794043425776677559529961,033
Operating Profit567179838389122138179135145143
OPM %19%22%21%18%17%21%17%17%19%12%13%12%
Other Income2710917882219282727
Interest10111297581118414140
Depreciation111723333637434852667072
Profit before tax36505450575579102128566158
Tax %-1%43%27%37%51%23%32%34%35%97%43%
Net Profit36293932284254688423538
EPS in Rs4.303.403.652.932.553.935.016.277.780.583.463.64
Dividend Payout %0%0%0%17%20%25%20%19%15%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth15%22%12%7%
Compounded Profit Growth-4%-11%-28%7663%
Stock Price CAGR%-4%-16%-43%
Return on Equity5%5%3%2%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital358787108108108108108107107107108
Reserves133117164643672691727768820893885898
Borrowings98224328114716244155180378476595
Other Liabilities8575999689105118162173231241248
Total Liabilities3515046799619399679971,1941,2811,6091,7091,848
Fixed Assets1753193236506926726606756859669551,046
CWIP918222147368611152219
Investments000011281625146819562
Other Assets85102134264233260314488440547637721
Total Assets3515046799619399679971,1941,2811,6091,7091,848
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6014435579196820-4-0
Cash from Investing Activity-153-2361-31-51-60-61146-36-97
Cash from Financing Activity96222-51-22-3090-50-1514884
Net Cash Flow30-63-249-43158-13
Free Cash Flow-98-1241224458-5650-26-74-145
CFO/OP99%34%63%91%99%34%70%22%7%27%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days294038496471805348575973
Inventory Days771131191052421,0631,1521,3611,033928
Days Payable395462522415606621546744377310
Cash Conversion Cycle2940-280-299-339-239-283495654673715692
Working Capital Days-46-26-64-185770777575482622
ROCE %22%13%12%9%7%7%7%10%10%11%6%6%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.12%74.12%74.24%74.25%74.25%74.27%74.27%74.27%74.33%74.33%74.33%74.33%
FIIs4.11%4.62%4.88%5.35%5.37%4.65%4.54%5.21%4.63%4.47%4.36%4.47%
DIIs0.00%0.00%0.00%0.06%0.09%0.14%0.18%0.19%0.19%0.19%0.25%0.30%
Public20.90%20.42%20.13%19.65%19.59%20.26%20.33%19.65%20.18%20.36%20.41%20.26%
Others0.87%0.83%0.76%0.70%0.69%0.69%0.69%0.69%0.66%0.66%0.66%0.65%
No. of Shareholders50,22549,49549,85849,31551,47952,32852,89553,43753,78452,49551,41550,770

Fundamentals

Market Cap₹ 1,532 Cr.
Current Price₹ 142
Stock P/E39.0
Book Value₹ 93.1
ROCE6.12 %
ROE2.45 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)7%
Compounded Profit Growth (TTM)7663%
Consolidated figures.
Valuation
Market capRs 1,436 Cr
Enterprise valueRs 2,009 Cr
P/E (TTM)36.51x
Price to book1.43x
Price to sales1.22x
EV / EBITDA11.81x
EV / EBIT20.54x
EV / sales1.71x
Earnings yield2.74%
P/E, 3-year average135.85x
P/B, 3-year average2.02x
P/E, 5-year average90.44x
P/B, 5-year average1.81x
Profitability
Operating margin (excl. other income)12.71%
Operating margin (incl. other income)15.06%
EBITDA margin14.45%
Pre-tax margin4.90%
Net profit margin3.34%
Net margin, latest quarter3.28%
ROE3.74%
ROCE6.64%
ROA2.10%
ROE, 3-year average4.36%
ROCE, 3-year average8.39%
ROA, 3-year average2.76%
ROE, 5-year average5.38%
ROCE, 5-year average8.95%
ROA, 5-year average3.74%
ROIC (approx.)3.55%
Tax rate42.72%
Other income / net worth2.67%
Growth
Sales growth (latest year)5.01%
Profit growth (latest year)501.13%
Sales CAGR, 3 years12.35%
Sales CAGR, 5 years21.51%
Profit CAGR, 3 years-17.95%
Profit CAGR, 5 years-2.48%
Sales growth QoQ15.23%
Profit growth QoQ-40.78%
Sales growth YoY (latest quarter)11.74%
Profit growth YoY (latest quarter)21.64%
Per share
EPS (TTM)Rs 3.66
EPS (latest year)Rs 3.48
EPS (latest quarter)Rs 1.01
EPS, 3-year averageRs 3.96
EPS, 5-year averageRs 4.64
Book value per shareRs 93.49
Sales per shareRs 109.40
Cash flow per shareRs -0.00
Free cash flow per shareRs -13.49
Dividend per share, 3-year averageRs 1.20
Dividend per share, 5-year averageRs 1.13
Dividends
Dividend payout, 3-year average15.33%
Dividend payout, 5-year average18.10%
Efficiency
Asset turnover0.62x
Fixed asset turnover1.09x
Inventory turnover1.83x
Inventory days199 days
Debtor days73 days
Debtors turnover5.00x
Creditor days310 days
Cash conversion cycle692 days
Working capital days22 days
Leverage
Total debtRs 595 Cr
Cash and bankRs 22 Cr
Net debtRs 573 Cr
Debt to equity0.59x
Net debt / EBITDA3.37x
Interest coverage2.43x
Current ratio (filing 2026-03-31)1.25x
Quick ratio (filing 2026-03-31)0.60x
Trade payables (filing 2026-03-31)Rs 128 Cr
Owners' fund to total sources54.41%
Debt to assets32.18%
Cash flow
Cash from Operating Activity (latest year)Rs -0 Cr
Cash from Investing Activity (latest year)Rs -97 Cr
Cash from Financing Activity (latest year)Rs 84 Cr
Net Cash Flow (latest year)Rs -13 Cr
Free cash flow (latest year)Rs -145 Cr
FCFE (approx.: FCF + change in debt)Rs -26 Cr
Cash from ops / profit, 5 years0.42x
Statement figures
Net sales (TTM)Rs 1,176 Cr
Net sales (latest year)Rs 1,141 Cr
Sales (latest quarter)Rs 331 Cr
Operating profit excl. other income (latest year)Rs 145 Cr
Operating profit (latest quarter)Rs 42 Cr
Other income (TTM)Rs 27 Cr
EBITDA (TTM)Rs 170 Cr
PBDT (TTM)Rs 130 Cr
Profit before tax (TTM)Rs 58 Cr
Tax (latest year)Rs 26 Cr
Net profit (TTM)Rs 39 Cr
Net profit (latest year)Rs 37 Cr
Net profit (latest quarter)Rs 11 Cr
Depreciation (TTM)Rs 72 Cr
Depreciation (latest quarter)Rs 19 Cr
Interest (TTM)Rs 40 Cr
Cost of goods sold (latest year)Rs 706 Cr
Total expenditure (latest year)Rs 996 Cr
Total income (latest year)Rs 1,168 Cr
Share capitalRs 108 Cr
ReservesRs 898 Cr
Shareholders' fundsRs 1,005 Cr
Total assetsRs 1,848 Cr
Net blockRs 1,046 Cr
Capital work in progressRs 19 Cr
InvestmentsRs 62 Cr
ReceivablesRs 228 Cr
InventoryRs 385 Cr
Other liabilitiesRs 248 Cr
Shares outstanding (crore)10.75
Ownership
Promoter holding74.33% (+0.06 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 36.5 is at the 47th percentile of its own 8.4-year range (median 36.7, low 15.7, high 362.4).
P/B 1.43 is at the 17th percentile (median 1.87).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodSHALBYNifty 50Difference
1 week-7.1%-2.8% -4.3 pts
1 month-13.1%-6.8% -6.3 pts
3 months-22.5%-7.6% -14.8 pts
6 months+5.3%+0.4% +4.9 pts
1 year-46.8%-9.9% -36.9 pts
2 years-52.5%-13.6% -38.9 pts
3 years-43.9%+14.2% -58.0 pts
5 years-23.4%+27.9% -51.3 pts
2 mutual fund schemes hold about ₹0 Cr. Over three months 1 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Bandhan BSE Healthcare Index Fund0.03%0 +8%
Motilal Oswal BSE 1000 Index Fund0.00%0

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was 12% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 30% vs sales +5% in 2026
lookProfit leans on other income Other income was 44% of pre-tax profit in 2026
lookRegulator order or action Regulator order or action 2026-06-27: Shalby Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹331 Cr +11.8% vs Jun 2025. Net profit ₹10 Cr +25.0%.
Against our estimate for Jun 2026: sales +8.1%, profit +26.6% in line. Our estimate for Sep 2026: sales Rs 314 Cr, profit Rs 9 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-19Annual General Meeting/Dividend - Rs 1.20 Per Share
2023-08-08Annual General Meeting/Dividend - Rs 1.20 Per Share
2022-09-19Annual General Meeting/Dividend - Re 1 Per Share
2021-09-17 Annual General Meeting/Dividend - Re 1 Per Share
2020-09-04 Annual General Meeting/Dividend - Rs 0.50 Per Share
2019-08-16 Annual General Meeting/Dividend - Rs 0.50 Per Share
2018-09-07 Annual General Meeting
DateTypeWhat it says
2026-09-12CessationCessation of Mr. Shanay Vikram Shah as Additional Director designated as Whole-time Director of the company w.e.f. September 10, 2026
2026-09-11Shareholder meetingVoting results.
2026-09-10Shareholder meetingOutcome and Proceeding of 22nd Annual General Meeting held on 10th September 2026
2026-08-20UpdatesWeblink letter to Shareholders whose email IDs are not registered intimating exact path of Annual Report FY 2025-26 and Notice of 22nd AGM.
2026-08-19Concall / analyst meetTranscript
2026-08-18ResignationResignation of Director/KMP/SMP
2026-08-18ResignationResignation of Mr Deepak Anand as Chief Executive Officer of Shalby Medtech Limited (a wholly-owned subsidiary) w.e.f. September 04, 2026.
2026-08-13Concall / analyst meetLink of Recording
2026-08-12Investor PresentationInvestor Presentation
2026-08-12General UpdatesGrant of ESOP under Shalby Limited Emlpoyee Stock Options Scheme-2021
2026-08-12AppointmentAppointment of Mr Shanay Vikram Shah (DIN: 02726541) as Additional Director designated as Whole-time Director of the company w.e.f. August 12, 2026.
2026-08-12Board meeting outcomeShalby Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-10UpdatesExercise of ESOP.
2026-07-30General UpdatesAvailing of working capital facilities from Kotak Mahindra Bank Limited
2026-07-29Concall / analyst meetReschedule of Q1 FY 2027 Earnings Conference Call which was earlier scheduled to be held on Friday, August 7, 2026, at 4:00 PM IST, now to be held on ...
2026-07-27Credit Rating- NewCredit Rating- New
2026-07-20UpdatesExercise of stock option under Shalby Limited Employee Welfare Scheme - 2021.
2026-07-16Concall / analyst meetSchedule of Earnings Conferece Call on 7-Aug-2026 to discuss Q1FY2027 results
2026-07-13UpdatesExercise of 20,500 Stock Options under Shalby Limited Employees Stock Options Scheme-2021.
2026-06-27Regulatory actionAction(s) taken or orders passed
2026-06-25Reply to Clarification- FinaThe Exchange had sought clarification from Shalby Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligat...
2026-06-05Concall / analyst meetSchedule of meet
2026-06-03Disclosure under SEBI TakeovShalby Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Ac...
2026-06-02Concall / analyst meetTranscript
2026-05-29Concall / analyst meetLink of Recording
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Shalby Ltd?

Shalby Ltd (SHALBY) has a market capitalisation of Rs 1,532 Cr. at the 2026-10-01 close.

What is the P/E ratio of Shalby Ltd?

Shalby Ltd trades at a P/E of 39.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Shalby Ltd's latest quarterly results?

In the Jun 2026 quarter, Shalby Ltd sales was Rs 331 Cr (+11.8% vs Jun 2025) and net profit was Rs 10 Cr.

What is the 52-week high and low of Shalby Ltd?

The 52-week high is Rs 273.00 and the 52-week low is Rs 125.82.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03