Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo


Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!

Hold Shalby; target of Rs 130: ICICI Direct

ICICI Direct recommended hold rating on Shalby with a target price of Rs 130 in its research report dated January 12, 2021.

January 14, 2021 / 09:03 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Shalby

Shalby reported decent Q3FY21 numbers with revenues growing 9.1% YoY to Rs 132 crore amid continued sequential recovery in elective surgeries and higher Covid treatments. EBITDA margins improved 525 bps YoY to 23.3% due to lower employee and other expenditure stemming from cost rationalisation measures. EBITDA grew 40.7% YoY to Rs 31 crore. PAT grew 106.4% YoY to Rs 17 crore. Delta vis-a-vis EBITDA was due to lower tax rate.


We maintain HOLD and arrive at a target price of Rs 130 (vs. Rs 100 earlier) based on SOTP by valuing hospitals (above six years) at 12x FY23E EV/EBITDA and hospitals (below six years) at 1x FY23E EV/sales.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 12, 2021 01:06 pm

stay updated

Get Daily News on your Browser