Results on 12 Oct 2020

Shalby Ltd
Good set of results
Sales down 8%, ebidta up 5% but profit surges 90%
PAT boosted due to tax expenses
Record high EBITDA and PAT margins of 28.0% and 21.6% respectively
Bed occupancy at 41% in Q2 FY21 Vs 39% yoy, vs 17% qoq
Average Revenue Per Occupied bed at 24,837 vs 29,521 yoy, vs 21,848 qoq
m-cap 1078 cr, trades at 1.4x p/b with roce 7.5%
stock down 20% from 52-week high

GNA Axles
Stable set of numbers
Sales down 13%, pat up 3%
Cost of Material Consumed down to 122.4 cr vs 167 cr
Net cash flow from operation stable
Trades at 18x p/e & 1.1 p/b with 14% roce

Varinder Bansal

Managing Partner, Pantomath Asset Management. Ex-Corporate Editor & Head of Research, CNBC-TV18

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