The company informed the exchanges Wednesday that the Covid-19 curve appears to be flattening and India seems to be very near to the peak in terms of number of new cases. The company is optimistic that it will get back to normalcy as soon as possible.
“The impact on occupancy level and revenues varies differently for respective units. In line with the scenario of other corporate hospitals – on an aggregate basis – company’s revenue for the month of April 2020 registered a 50%-80% dip in pre-Covid revenue.
However, May witnessed 20% growth from April & June numbers saw a 100% rise to that of May,” the company said.
With mounting recovery in the business and also being a net cash surplus company, it did not face any difficulty in running the business operation smoothly. Now since the restrictions on movement of people have been lifted from many parts of the country, the company anticipates an increase in patient footfall for OPD and for elective surgeries.
The company does not anticipate any risk in recoverability of receivables or any major supply chain disruption. In fact, major reduction in receivables was seen as a lot of credit work was not done in the market during the period. There is no impact either on the internal financial controls or on the existing contract due to covid-19 situation.
The lockdown and consequential restrictions imposed by Ministry of Home Affairs (MHA) affected Indian Healthcare services on elective surgeries front for a shorter duration and also affected the movement of people – which in turn impacted our staff as well as the patient flow. However, we continued to cater non-elective, critical care and emergency cases.
During the lockdown all its hospital units in India remained open for treatment of medical emergency or other medications. Tele-consultation service was made available to all those patients who can’t travel.
“Moreover, our homecare service continued to serve our patients and public at large – for supply of medicine, nursing services at home etc. As far as our resources are concerned, we have been optimizing the use of capital as well as human resources. Even during the lockdown, we never faced shortage of the medical staff – we were rather able to adjust our capacity as per the requirement at respective units. As of now, we have dedicated some of the beds for Covid-19 patients apart from non Covid patients at five units,” company said.
Shalby Ltd is currently trading at Rs71.90, down by Rs0.65 or 0.90% from its previous closing of Rs72.55 on the BSE.