Financial results for the half year and year ended 31 March, 2026
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Modern Diagnostic reported FY26 revenue of Rs 8,311.06 Lacs, up 6.6% from Rs 7,794.54 Lacs in FY25. However, profit after tax dropped sharply to Rs 525.33 Lacs from Rs 900.79 Lacs in FY25, a decline of about 42%. The company completed its IPO in January 2026, raising Rs 36.89 Crores, with Rs 1,422.67 Lacs still unutilized for medical equipment purchase and Rs 307.99 Lacs for working capital. Total assets nearly doubled to Rs 11,859.82 Lacs from Rs 6,457.43 Lacs, driven by IPO proceeds and increased borrowings. Finance costs rose 31.5% to Rs 244 Lacs, while depreciation increased 23.8% to Rs 518.61 Lacs. The auditor issued an unmodified opinion with no concerns raised.
The sharp drop in profitability despite revenue growth signals margin compression and higher interest/depreciation costs from expansion. While the IPO provides growth capital, shareholders face lower earnings in the near term as the company invests IPO proceeds. The stock may see muted reaction given the profit decline offset by healthy cash reserves and new listing status.