Vijaya Diagnostic Centre Limited has informed the Exchange regarding Board meeting held on November 04, 2025.
VIJAYA · price
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On the reaction day the stock moved 0.2 pts more than Nifty Smallcap 250 and 0.2 pts more than its Healthcare Service Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Vijaya Diagnostic Centre reported Q2 FY26 standalone revenue of ₹18,935 lakhs (up ~11% YoY) and PAT of ₹4,270 lakhs (up ~7% YoY); H1 FY26 standalone revenue grew ~16% to ₹36,608 lakhs with PAT up ~18% to ₹8,145 lakhs. Consolidated Q2 revenue was ₹20,156 lakhs and H1 consolidated PAT was ₹8,187 lakhs (~11% YoY). The Board noted the NCLT-sanctioned amalgamation of its subsidiary Medinova Diagnostic Services Limited becoming effective November 4, 2025, with appointed date April 1, 2024. The company will issue 171,792 new shares to non-controlling shareholders of Medinova at a ratio of 1 Vijaya share for every 22 Medinova shares; record date is November 25, 2025. All prior period comparatives have been restated to reflect the merger as a pooling-of-interests (common control) transaction. Statutory auditor B S R and Co issued an unmodified limited review report.
The Medinova merger adds modest scale with only ~0.17% equity dilution to existing shareholders, while making the Kolkata-based Medinova Millennium MRI Services LLP a wholly owned subsidiary. Q2 results show steady top-line growth, though standalone PAT growth (7%) has lagged revenue growth (11%) due to higher depreciation and finance costs. Restated comparatives require careful YoY interpretation, but the underlying diagnostic services business continues to grow at a healthy double-digit pace.