News: Revenues grew 12% YoY to | 163 crore. EBITDA margins declined 661 bps YoY to 14.8% mainly due to increase in raw material and employee expenditure. Subsequently, EBITDA declined 23% YoY to | 24 crore. Adjusted profit grew 4% YoY to | 10 crore. Delta vis-à-vis EBITDA was mainly due to lower tax expense and higher other income
Views: Q4 results are below estimates and largely reflect the severity of impact due to Omicron wave on hospital business. Shalby continues to maintain leadership position in Arthroplasty but it has also transformed itself as a multispecialty hospital with diversified revenue mix. We will get more insights and clarity post discussion with management
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