NSE: 3BBLACKBIO · BSE: 532067
3B BLACKBIO DX LTD.
Makes and sells molecular diagnostic PCR kits and reagents under the TRUPCR brand for infectious diseases, alongside a smaller agrochemicals line. The diagnostics business runs as open-kit/reagent kits (not closed systems, sample-to-answer, or point-of-care platforms) and sells through distributors across 70+ countries to over 1,000 customers. Two international subsidiaries anchor the export push: TRUPCR Europe (UK), with FY26 sales of GBP 1.75M (INR 20.67 crore) at roughly 40% CAGR over four years, and Coris BioConcept (Belgium), acquired in August 2025 and consolidated for seven months in FY26 with sales of INR 35.91 crore and PAT of INR 8.76 crore helped by a one-time HAT order. India remains the home market, where the company holds about 15% share of a molecular diagnostics market sized at INR 500–600 crore and growing 8–10% annually. Inputs are dominated by materials (25.2% of FY26 revenue) and employees (16.9%), with depreciation at 3.6% and capex at 18% of revenue; the FY26 consolidated EBITDA margin was 58.0% with PAT of INR 59.93 crore on revenue of INR 141.92 crore. A US FDA submission is underway for the Resist-5 AMR product targeting FY28 launch, IVDR transition for European SKUs is in progress ahead of the May 2026 EU deadline, and roughly INR 230–250 crore of cash is earmarked for further M&A with 2–3 targets under discussion. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Diagnostic Kits (Molecular Diagnostics / TRUPCR PCR kits and reagents), Agrochemicals, TRUPCR Europe (UK subsidiary), Coris BioConcept (Belgium subsidiary, consolidated from Aug 2025). Asset-light molecular diagnostics with growing international footprint built partly via acquisitions
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 81 | 62 | 74 | 96 | 142 |
| EBITDA (ex other income) | 37 | 29 | 33 | 50 | 57 |
| margin % | 46.0 | 47.1 | 44.5 | 51.9 | 40.0 |
| Owners' profit | 28 | 23 | 33 | 48 | 59 |
| EPS, as reported (₹) | 42.89 | 34.55 | 37.46 | 55.66 | 69.94 |
| ROE % · ROCE % | 18.7 · 24.7 | 13.2 · 17.8 | 14.2 · 19.3 | 17.6 · 23.1 | 18.1 · 22.6 |
| Debt / equity (x) | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 |
| Cash from operations | 37 | 23 | 27 | 43 | 52 |
| Capex | (2) | 0 | 0 | (1) | (26) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 19 | 29 | 25 | 22 | 22 | 34 | 50 | 35 |
| Profit before tax | 14 | 19 | 18 | 13 | 16 | 20 | 27 | 15 |
| Net profit | 11 | 15 | 13 | 8 | 13 | 15 | 22 | 10 |
| EPS (₹) | 13.19 | 17.35 | 15.75 | 9.38 | 14.76 | 17.55 | 26.19 | 11.44 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Agrochemicals | 11 | 7.6 |
| Diagnostic Kits | 131 | 92.4 |
| Total, before eliminations | 142 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DR. LAL PATH LABS LTD. | 32,213 | 46.3 | 12.68 | 37.5 | 20.1 | 24.8 | 11.8 | 35.0 |
| VIJAYA DIAGNOSTIC CEN LTD | 14,838 | 79.1 | 15.50 | 41.4 | 18.1 | 16.8 | — | 46.4 |
| METROPOLIS HEALTHCARE LTD | 11,341 | 23.4 | 7.44 | 27.1 | 12.5 | 14.4 | 10.5 | 25.8 |
| THYROCARE TECH LTD | 7,871 | 28.9 | 13.43 | 28.7 | 27.8 | 33.2 | 10.9 | 33.9 |
| NEPHROCARE HEALTH SERV L | 6,301 | 65.1 | 5.64 | 24.9 | 6.9 | 8.6 | — | 25.3 |
| KRSNAA DIAGNOSTICS LTD | 1,628 | 16.7 | 1.66 | 8.3 | 10.3 | 8.4 | — | 27.7 |
| SURAKSHA DIAGNOSTIC LTD | 1,621 | 45.3 | 6.66 | 16.4 | 12.9 | 11.5 | — | 36.0 |
| 3B BLACKBIO DX LTD. ◆ | 1,170 | 19.5 | 3.53 | 13.8 | 18.1 | 22.5 | (8.9) | 52.6 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.5 | 23.4 | 10 of 25 | 63% |
| P/B | 3.5 | 2.0 | 15 of 24 | 39% |
| ROCE | 22.5 | 6.1 | 4 of 29 | 89% |
| ROE | 18.1 | 6.0 | 5 of 24 | 83% |
| Debt / Equity | 0.0 | 0.1 | 9 of 23 | 64% |
| EBITDA margin | 52.6 | 25.6 | 1 of 24 | 100% |
| Revenue growth | 57.5 | 20.8 | 5 of 25 | 83% |
| Profit growth | 22.0 | 22.0 | 13 of 25 | 50% |
| Market cap | 1170 | 34 | 8 of 30 | 76% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · RTA submits quarterly demat certificate under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 30 Sept 2026 · Re-appointment of promoter director Mrs. Mithla Dubey approved at AGM | management changes | medium | — | — |
| 30 Sept 2026 · 3B BlackBio Dx: All 5 AGM resolutions passed; Rs 5 dividend declared | compliance | minimal | — | — |
| 29 Sept 2026 · 54th AGM of 3B BlackBio Dx held; dividend of Rs.5 per share approved | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 till Q2 FY27 results announcement | compliance | minimal | — | — |
| 18 Sept 2026 · Special Window for Re-lodging Physical Share Transfer Requests | compliance | minimal | — | — |
| 16 Sept 2026 · Investor meeting outcome with Marcellus Investment Managers | investor communications | low | — | — |
| 11 Sept 2026 · 3B BlackBio to meet Marcellus Investment Managers on Sep 16 | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Investor meet with Capri Global; no new info shared | investor communications | low | — | — |
| 8 Sept 2026 · Newspaper advertisement published for 54th Annual General Meeting | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.