Shalby share price today

Shalby Ltd's share price was ₹122.70 at the close on 4 November 2026. It has been falling for 45 weeks. That is 23.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹113 and ₹236, and at that close it sat 8% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Shalby Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 18 weeks running.

Over the last 8.9 years the share price moved −49% while the NIFTY 500 moved +134%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 10 July 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) raised their stake for 3 quarters in a row, profit up on a year earlier for 4 quarters in a row and highest quarterly revenue in 15 quarters.

1. Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row

   From 0.2% to 0.3% of the company by the September 2026 quarter.

2. Profit up on a year earlier for 4 quarters in a row

   In the June 2026 quarter profit was ₹10 crore, +25% on a year earlier.

   Why: Profit rose because the tax treatment became more favorable.

   Next results: check whether hospital margins recover as TPA renewals and doctor productivity improve.

   From the earnings call on 13 Aug 2026.

3. Highest quarterly revenue in 15 quarters

   Revenue of ₹331 crore in the June 2026 quarter is the highest of the last 15 quarters.

   Why: Revenue hit a record because more hospital beds were occupied and patient numbers rose.

   Next results: check whether new doctors start bringing in patients and insurance tie-ups add revenue as management expects.

   From the earnings call on 13 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Shalby reported revenue of ₹331 crore, up 11.8% from ₹296 crore a year earlier, and a profit of ₹10.0 crore, up 25.0% from ₹8.00 crore.

Shalby results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Shalby's management discussed these results on a call held on 13 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Shalby closed at ₹122.70 on 4 November 2026, down 47.9% from ₹235.51 a year earlier (7 November 2025) and down 20.9% over five years. Its highest weekly close since December 2017 was ₹317.60 on 24 November 2023.

Shalby share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

469 weekly closes from 15 December 2017 to 4 November 2026.

4 Nov 2026: Shalby closed at ₹122.70, up 1.7% on the week and down 8.1% on the month. 13 Aug 2026: Shalby held its results call for April to June 2026. Management guided: Hospital operating margin up to 20% for FY27; new doctors mature after roughly one quarter, TPA renewals/tie-ups could add 5-7% revenue, and tax rate is approximately 26% under the new scheme.

Earlier

• Results for April to June 2026: Revenue up 11.8% and profit up 25.0% on a year earlier.

Shalby paid no dividend in the 12 months to 5 November 2026. The last was a dividend of ₹1.20 a share, ex-date 19 September 2024.

Shalby dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Not in its latest year. Shalby Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 6 of its last 13 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 13 August 2026, Shalby's management guided: Hospital operating margin up to 20% for FY27; new doctors mature after roughly one quarter, TPA renewals/tie-ups could add 5-7% revenue, and tax rate is approximately 26% under the new scheme.

“We are firmly confident, as per our estimate, of achieving an EBITDA margin of up to 20% on a full-year basis.”Amit Kumar, Group CFO, on the call for April to June 2026

What management guided

• Shalby International occupancy to reach 30%+ from Q3/Q4; positive profit before tax near end-Q3/Q4 and profit within 6-9 months.
• MedTech to achieve double-digit operating margin after January to March 2027 project implementation; remaining USFDA work expected over the next 6 months.
• MedTech monthly cash requirement to fall by ₹3 crore from Q1 initiatives and another ₹3 crore after January to March 2027 implementation; loss-making entities may have no tax expense for 2-3 years.
• Group ROCE to reach 11-13% within 1-2 years on minimal capital spending; net debt stable or reducing in coming quarters.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 13 August 2026.

When Shalby reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Standalone hospital margin to trend toward the full-year ceiling as TPA renewals, bunker treatments and doctor productivity mature.

Shalby is not on any of our India lists this week.

Shalby Ltd earned ₹10.0 Cr of net profit in the Jun 2026 quarter, +25.0% on the same quarter a year earlier. Full-year FY26 profit was ₹35.0 Cr. Over 10 years profit has grown −0.3% a year on average. That is 3.0% of the quarter's revenue. The same quarter a year earlier earned ₹8.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

2 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹35.0 Cr (+1,650.0% on the year before).

Shalby Ltd reported ₹331 Cr of revenue in the Jun 2026 quarter, +11.8% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 14.7% a year on average. The last full year, FY26, came in at ₹1,141 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,175 Cr.

FY26 revenue was ₹1,141 Cr, +5.0% on the year before.

Recent pace: the last four quarters grew +6.3% on average, against 14.7% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +6.3%, against +9.7% a year over the last 8 quarters (rolling over).

Shalby Ltd's operating margin was 13.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 12.0% and 25.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.4 percentage points on the year while gross margin changed −6.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 13% of Shalby Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹0.0 Cr of operating cash against ₹35.0 Cr of profit. After ₹158 Cr of spending on assets, free cash was −₹158 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Shalby Ltd's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹1,141 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹557 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Averaged over those years that is 16.3% of FY26 revenue a year.

Spending on assets: ₹557 Cr over the last 3 years, against ₹188 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹19.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Shalby Ltd's P/E is 33.6×, in the middle of its own history: higher than 40% of past readings. Its usual P/E (the middle reading) is 37.1×, over 8.9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +496.6% while the price moved −47.9%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved −4.6% a year; about −7.4% a year came from earnings growth and about +2.8 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 45% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Shalby Ltd's business is turning around. Profit growth has swung from −100.0% at its low to +25.0%, rising from a low 5 quarters ago (from single-quarter figures), with ROCE falling at 6.0%. This is based on 9 quarters of 3 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Shalby Ltd earned a ROCE of 6% in FY26. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 3.1% net margin and 0.62× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 3.1% net margin × 0.62× asset turnover × 1.84× leverage (assets divided by equity) ≈ 3.5% on equity. The margin does its share; borrowing is a big part of it.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 45% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Shalby Ltd had ₹595 Cr of borrowings against ₹1,006 Cr of equity in FY26, so its debt is 0.59× its equity. Its operating profit is 4 times its interest bill. Over 5 years borrowings went from ₹44.0 Cr to ₹595 Cr. Over the last 3 of those years it spent ₹557 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Part of the spending on assets is being paid for with borrowed money.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 45% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

No group of Shalby Ltd's owners changed its stake by a full percentage point over the last two years. Domestic institutions moved +0.2 points over the same period, to 0.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: −0.7 points over 8 quarters, to 4.7%; Domestic institutions: +0.2 points over 8 quarters, to 0.3%; Promoters: +0.1 points over 8 quarters, to 74.3%.