Shalby Limited reported a strong Q4 FY26 with consolidated revenue up 9.4% and a turnaround to a profit of ₹18.5 crore from a loss. The MedTech division achieved EBITDA positive status, marking a significant operational improvement.
Shalby Ltd Reports Robust Q4 FY26 with Profitability Turnaround and MedTech Success
Consolidated Revenue Q4 FY26: ₹295.5 crore Consolidated PAT Q4 FY26: ₹18.5 crore (Turnaround from loss) Reader Takeaway: Profitability turnaround and positive MedTech EBITDA are key positives, while geopolitical risks and margin pressures are watch points. ## What just happened Shalby Limited announced its financial results for the fourth quarter and full year of FY2026. The company achieved a consolidated revenue of ₹295.5 crore in Q4 FY26, a 9.4% increase year-on-year. Significantly, Shalby reported a consolidated Profit After Tax (PAT) of ₹18.5 crore for the quarter, marking a turnaround from a loss of ₹12.2 crore in Q4 FY25. The company's MedTech division also showed strong performance, turning EBITDA positive with over ₹3.7 crore in Q4 FY26, a notable improvement from a loss of ₹9.3 crore in the prior year. ## Why this matters This financial update signals a successful operational turnaround for Shalby. The return to profitability and the positive EBITDA from the MedTech segment validate the company's strategic investments and operational discipline. For shareholders, this indicates a potential shift from a growth and investment phase to a phase of sustained profitability and scaling. ## The backstory Shalby Limited has been focused on scaling its MedTech business and optimizing its hospital operations. In previous periods, the company navigated challenges including geopolitical impacts on its international business and investments in new doctor recruitment and oncology. The transition to a lower tax regime of 25% is also expected to benefit profitability. ## What changes now The company's focus will likely shift to sustaining this profitability, expanding the MedTech segment's reach, and managing costs effectively. The positive EBITDA from MedTech and revenue growth across segments provide a foundation for future performance. ## Risks to watch Potential risks include the ongoing impact of geopolitical tensions on international patient flow, particularly at the Gurugram unit. Additionally, increased costs associated with new doctor recruitment and investments in oncology may continue to pressure gross margins in the short term. ## Peer comparison While direct peer comparisons for the MedTech division's EBITDA turnaround are not provided in the filing, the overall revenue growth of 9.4% is a healthy indicator in the healthcare services sector. ## Context metrics (time-bound) * Consolidated Revenue Q4 FY26: ₹295.5 crore (up 9.4% YoY) * Consolidated PAT Q4 FY26: ₹18.5 crore (vs. ₹-12.2 crore in Q4 FY25) * MedTech Revenue Q4 FY26: ~₹40 crore (up 45% YoY) * MedTech EBITDA Q4 FY26: >₹3.7 crore (vs. ₹-9.3 crore in Q4 FY25) * Tax Rate: Shifted to 25% ## What to track next Investors should monitor the continued growth and profitability of the MedTech division, the company's ability to maintain its positive consolidated PAT, and the impact of diversification efforts on its international business segment. Tracking the gross margin trends in the upcoming quarters will also be crucial.
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