Buy Shalby, target price Rs 180 : ICICI Direct

ICICI Direct has buy call on Shalby with a target price of Rs 180. The current market price of Shalby is Rs 162.3.

Shalby, incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 1757.32 Crore) operating in Hospitals & Allied Services sector.

Shalby key Products/Revenue Segments include Sale of services, Medicines and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 207.10 Crore, up .69 % from last quarter Total Income of Rs 205.67 Crore and up 12.29 % from last year same quarter Total Income of Rs 184.43 Crore. Company has reported net profit after tax of Rs 18.40 Crore in latest quarter.

The company’s top management includes Dr.Vikram Shah, Mr.Sushobhan Dasgupta, Dr.Ashok Bhatia, CA.Shyamal Joshi, Dr.Umesh Menon, Mr.Tej Malhotra, CA.Sujana Shah. Company has T R Chadha & Co. as its auditors. As on 30-09-2022, the company has a total of 11 Crore shares outstanding.

Investment Rationale
EBITDA marginsare expected to improve by 156 bps to 19.9%. Net profit is expected to increase 11.66%QoQ to Rs 21 crore.

Promoter/FII Holdings
Promoters held 74.04 per cent stake in the company as of 30-Sep-2022, while FIIs owned 3.92 per cent, DIIs 0.28 per cent.