Runs a nationwide diagnostic services network under public-private partnership (PPP) contracts with state governments, alongside a growing retail diagnostics brand. Operates 190+ CT/MRI centers, 147 pathology labs and 4,700+ patient collection centers across 18 states, processing 59 million tests and serving 20 million patients in FY26. The PPP arm — including a Rajasthan project with 27 mother labs and 800+ collection centers, and a new 7-year Himachal Pradesh contract covering CT scans at 34 government health institutions — supplies the bulk of revenue, with FY27 capex of ₹500 crore earmarked for further expansion (₹300+ crore Rajasthan, ₹150+ crore MRI). The retail arm operates 3,500+ touchpoints across 5 states with 54 NABL-accredited labs and 54 NABH-accredited radiology centers, contributing ~8% of FY26 revenue at ~₹60 crore. Costs split as materials (23.2% of revenue), employees (18.2%), other opex (31.2%) and depreciation (11.7%); FY26 capex ran at 28.4% of revenue. Days sales outstanding stood at 139 days at year-end versus 155 days earlier, with a sub-120 day FY27 target. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. PPP/government diagnostic services, Retail diagnostics (RPL brand) (8%). Asset-heavy diagnostic infrastructure (FY26 capex 28.4% of revenue) with government-counterparty-heavy receivables and long collection cycles (DSO 139 days).
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 455 | 487 | 620 | 717 | 773 |
| EBITDA (ex other income) | 131 | 122 | 144 | 190 | 212 |
| margin % | 28.9 | 25.1 | 23.3 | 26.5 | 27.4 |
| Owners' profit | 68 | 62 | 57 | 78 | 101 |
| EPS, as reported (₹) | 22.89 | 19.78 | 17.90 | 24.04 | 31.30 |
| ROE % · ROCE % | 10.0 · 14.4 | 8.4 · 10.8 | 7.0 · 9.7 | 8.8 · 13.0 | 10.3 · 10.6 |
| Debt / equity (x) | 0.06 | 0.04 | 0.20 | 0.23 | 0.55 |
| Cash from operations | 128 | 76 | 24 | 87 | 143 |
| Capex | (132) | (141) | (194) | (127) | (219) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 186 | 175 | 186 | 193 | 206 | 181 | 193 | 236 |
| Profit before tax | 25 | 25 | 29 | 27 | 32 | 20 | 52 | 22 |
| Net profit | 20 | 19 | 21 | 21 | 24 | 15 | 42 | 17 |
| EPS (₹) | 6.07 | 6.01 | 6.40 | 6.35 | 7.38 | 4.72 | 12.86 | 5.10 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DR. LAL PATH LABS LTD. | 31,794 | 45.7 | 12.51 | 37.0 | 20.1 | 24.8 | 11.8 | 35.0 |
| VIJAYA DIAGNOSTIC CEN LTD | 15,456 | 82.4 | 16.15 | 43.1 | 18.1 | 16.8 | — | 46.4 |
| METROPOLIS HEALTHCARE LTD | 12,088 | 25.0 | 7.93 | 28.9 | 12.5 | 14.4 | 10.5 | 25.8 |
| THYROCARE TECH LTD | 8,797 | 32.3 | 15.01 | 32.1 | 27.8 | 33.2 | 10.9 | 33.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · AGM notice dispatched to shareholders without registered email | compliance | minimal | — | — |
| 9 Sept 2026 · Tax appeal orders for 7 assessment years, company to approach ITAT | regulatory legal | high | — | — |
| 6 Sept 2026 · Newspaper publication of 16th AGM notice | compliance | minimal | — | — |
| 5 Sept 2026 · AGM notice on September 28, 2026; FY26 annual report submitted | board shareholder meetings | medium | — | — |
| 2 Sept 2026 · Krsnaa Diagnostics publishes 16th AGM notice in newspapers | compliance | minimal | — | — |
| 29 Aug 2026 · Newspaper publication of corrigendum to Postal Ballot notice | compliance | minimal | — | — |
| 28 Aug 2026 · Krsnaa Diagnostics issues corrigendum to postal ballot on preferential warrants | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · Tax rectification order raises additional demand of Rs 12.10 crore; company to appeal | regulatory legal | high | — | — |
| 20 Aug 2026 · Preferential issue of 16.21 lakh warrants worth Rs 91.75 cr to promoters | business updates | medium | — | — |
| 19 Aug 2026 · Krsnaa Diagnostics Q1 FY27 earnings call transcript; revenue up 22%, EBITDA margin 25% | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| NEPHROCARE HEALTH SERV L | 7,678 | 79.3 | 6.88 | 30.4 | 6.9 | 8.6 | — | 25.3 |
| KRSNAA DIAGNOSTICS LTD ◆ | 1,794 | 18.4 | 1.83 | 9.0 | 10.3 | 8.4 | — | 27.7 |
| SURAKSHA DIAGNOSTIC LTD | 1,693 | 47.2 | 6.95 | 17.2 | 12.9 | 11.5 | — | 36.0 |
| 3B BLACKBIO DX LTD. | 1,217 | 20.3 | 3.67 | 14.3 | 18.1 | 22.5 | (8.9) | 52.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 18.4 | 23.2 | 11 of 29 | 64% |
| P/B | 1.8 | 2.3 | 11 of 24 | 57% |
| ROCE | 8.4 | 6.1 | 12 of 29 | 61% |
| ROE | 10.3 | 7.3 | 11 of 26 | 60% |
| Debt / Equity | 0.6 | 0.0 | 22 of 26 | 16% |
| EBITDA margin | 27.7 | 25.6 | 11 of 24 | 57% |
| Revenue growth | 22.1 | 20.8 | 11 of 25 | 58% |
| Profit growth | (19.3) | 22.0 | 19 of 25 | 25% |
| Market cap | 1794 | 38 | 6 of 30 | 83% |
| 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 |
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