Krsnaa Diagnostics Share Price

Conference Call with Krsnaa Diagnostics Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.

• Trendlyne
• 3 months 2 weeks ago

Healthcare Services company Krsnaa Diagnostics announced Q3FY26 results Revenue: Rs 1,812 million against Rs 1,745 million during Q3FY25, change 4%. EBITDA: Rs 474 million against Rs 466 million during Q3FY25, change 2%. EBITDA Margin: 26% for Q3FY26. PAT: Rs 152 million against Rs 194 million during Q3FY25, change -22%. PAT Margin: 8% for Q3FY26. EPS: Rs 4.66 for Q3FY26. Yash Mutha, Managing Director, said: “Q3 is traditionally a seasonally softer quarter for the diagnostics industry, and this year followed a similar pattern. However, what stands out this quarter is the strength of execution beneath the numbers. During the quarter, we undertook focused and disciplined actions to improve working capital efficiency and accelerate recovery of long-pending government receivables. These measures resulted in cash recoveries of over Rs 130 crore during Q3. Importantly, cash recovered during the quarter was over Rs 100 crore higher on a YoY basis compared to the corresponding quarter last year, reflecting a structurally stronger collections framework and improved maturity of our operating model. EBITDA margins during the quarter reflect deliberate, front-loaded investments to support the next phase of growth, particularly the rollout of India’s largest pathology PPP initiative — the Rajasthan Pathology Project. While certain manpower and readiness costs have been incurred ahead of revenue generation, the project is progressing fully as planned, with meaningful revenue commensuration expected from the next financial year. Encouragingly, our B2C segment continues to build strong momentum, recording multi-fold growth during the quarter. We are seeing steadily rising acceptance of the Krsnaa brand in the consumer market, driven by our focus on high-quality diagnostics, round-the-clock service availability, and pricing that remains meaningfully more affordable than regional alternatives. As brand trust deepens and our specialty portfolio expands, this segment is emerging as a meaningful contributor to sustainable growth, profitability, and long-term shareholder value. Krsnaa operates a uniquely differentiated diagnostics platform that is difficult to replicate. Anchored in a PPP framework and a radiology-led model, our business entails upfront equipment investments that are nearly 2.5x higher than those of traditional, pathology-led diagnostics players. A significant portion of this capital has been deployed over the past few years to build the country’s largest pan-India radiology network, creating a high-entry-barrier platform with a durable, long-term competitive advantage. Despite operating within a highly regulated government ecosystem, Krsnaa has remained EBITDA- and PAT-positive since inception, even while delivering services at price points approximately 50–70% lower than prevailing market rates. While return ratios may appear moderated during this investment phase, our non-radiology business already delivers returns comparable to industry benchmarks, and our radiology segment continues to demonstrate industry-leading returns supported by scale, utilization, and operating efficiency—factors that are inherently difficult to replicate. Backed by long-term PPP contracts, a wide geographic footprint, predictable revenue visibility, and structurally lower customer acquisition costs, Krsnaa has built a resilient healthcare infrastructure platform. As these investments mature and operating leverage strengthens, we believe the full economic potential of this platform will increasingly come into view, positioning Krsnaa for sustained long-term value creation.” Pallavi Bhatevara, Executive Director, said: “At Krsnaa Diagnostics, we remain deeply committed to delivering high-quality, accessible, and patient-centric diagnostic services, underpinned by strong governance, integrity, and operational excellence. Through our differentiated Public-Private Partnership (PPP) model, we have successfully built one of India’s largest platforms for providing free and affordable diagnostic services, enabling millions of patients across the country to access essential healthcare. Our expanding pan-India footprint and long-standing collaborations with multiple state governments have firmly positioned Krsnaa Diagnostics as a trusted, preferred, and scalable partner in India’s public healthcare ecosystem, with strong execution credibility and longterm growth visibility. We are pleased to announce the launch of the first hospital under Apulki Healthcare, marking a significant strategic milestone as we extend our capabilities beyond diagnostics into integrated tertiary care. Apulki’s flagship project in Pune, developed in partnership with the Pune Municipal Corporation, is India’s first PPP-based cancer and cardiac hospital, reinforcing our leadership in executing complex, high-impact public healthcare infrastructure projects. The 150-bed facility was completed within approximately two and a half years, reflecting strong project management, disciplined capital deployment, and execution efficiency. The hospital operates under a long-term concession structure of 30 years, extendable by a further 30 years, providing durable revenue visibility and alignment with public healthcare objectives. Designed as a comprehensive care facility, it offers end-to-end cancer treatment under one roof and is equipped with advanced medical infrastructure, including LINAC, PET-CT, a 160-slice cardiac CT scanner, intensive care units, mammography, fluoroscopy, a full diagnostics suite, and multiple ward categories, enabling the delivery of high-quality care across patient segments. Looking ahead, Apulki Healthcare is supported by a clearly articulated and scalable growth roadmap aimed at building a pan-India super-specialty hospital network. The Company plans to develop approximately ten hospitals with an aggregate capacity exceeding 2,000 beds, alongside the installation of more than 15 PET-CT units across the network. This expansion strategy is expected to meaningfully enhance clinical depth, strengthen diagnostic integration, and unlock operating leverage over time. Backed by Krsnaa Diagnostics’ proven PPP expertise, strong government relationships, and disciplined execution capabilities, these initiatives are well-positioned to drive sustainable growth, improved asset utilization, and long-term value creation, while addressing India’s growing need for affordable, specialized healthcare.” Result PDF

• Trendlyne
• 3 months 2 weeks ago

Healthcare Services company Krsnaa Diagnostics announced Q2FY26 results Revenue from Operations: Rs 2,060 million compared to Rs 1,863 million during Q2FY25, change 11%. EBITDA: Rs 602 million compared to Rs 509 million during Q2FY25, change 18%. EBITDA Margin: 29% for Q2FY26. PAT: Rs 239 million compared to Rs 196 million during Q2FY25, change 22%. PAT Margin: 12% for Q2FY26. EPS: Rs 7.25 for Q2FY26. Yash Mutha, Managing Director, said: “Krsnaa Diagnostics has delivered its highest-ever quarterly profit, reinforcing the strength and resilience of our business model. Revenue grew 12% YoY in H1FY26, driven by expanding patient volumes and the growing confidence in our diagnostic network across India. EBITDA increased 18% YoY to Rs 1,126 million, with margins improving to 28%, reflecting disciplined execution and strong operating leverage. Net profit rose 19% to Rs 445 million, underscoring our focus on profitable and sustainable growth. Over the years, we have built one of India’s most efficient and inclusive diagnostic platforms, with a presence across Tier-II and Tier-III markets through our Public-Private Partnership model. This structure not only supports volume growth but also provides stability through long-term contracts and broad geographic diversification. On the working capital side, our receivable cycle currently stands around 150+ days, reflecting a temporary transition linked to new central government payment norms under which states are aligning to RBI-linked disbursement mechanisms. Furthermore, Krsnaa has not recorded any bad debts since inception, underscoring the quality of our receivables and the credibility of our government partnerships. Our focus remains on accelerating collections, optimizing cash flows, and reinvesting into high-impact growth initiatives such as the Rajasthan PPP — India’s largest diagnostic project — which is progressing well and on schedule. With multiple labs going live in the coming months, we anticipate meaningful revenue contribution starting Q4FY26 and a full-year impact in FY27. With strong fundamentals, disciplined execution, and a clear growth roadmap, Krsnaa is well-positioned to deliver sustainable value and reinforce its leadership in India’s diagnostics landscape.” Pallavi Bhatevara, Executive Director, said: “At Krsnaa Diagnostics, we remain steadfast in our commitment to quality, integrity, and patient-centric care. Leveraging our Public-Private Partnership (PPP) model, we provide free and high-quality diagnostic services across India, enabling millions to access essential healthcare. Our pan-India network and close collaboration with state governments have firmly established Krsnaa as a trusted and preferred partner in public healthcare delivery. We are delighted to announce that for the first time in India, our company has received accreditation from the American College of Radiology (ACR) — a prestigious milestone marking the first-ever ACR recognition outside the United States. This global distinction stands as a testament to Krsnaa’s unwavering pursuit of excellence and adherence to international standards in imaging and radiology. Additionally, we are also proud to continue holding the CAP (College of American Pathologists) accreditation, the only such recognition granted to a government diagnostic location in India. These dual international accreditations underscore our relentless focus on quality, precision, and patient safety. They reaffirm Krsnaa’s position as a benchmark for globally recognized diagnostic standards in India, strengthening our reputation among clinicians, government partners, and patients alike. Importantly, these achievements also contribute to higher patient trust, improved volumes, and stronger institutional credibility, supporting long-term growth. Recently, we were honoured with the title of “India’s Most Trusted Integrated Diagnostic Brand” at the Big FM – Big Impact Awards held in Vietnam, a testament to our unwavering commitment to quality, accessibility, and patient trust With a foundation built on internationally accredited quality, a scalable nationwide platform, and a clear mission to make advanced diagnostics accessible to all, Krsnaa Diagnostics is well-positioned to capitalize on India’s expanding healthcare landscape, drive sustainable growth, and enhance value for all stakeholders.” Result PDF

• Trendlyne
• 6 months 1 week ago