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Molbio Diagnostics

MOLBIO NSE
₹1,350.80 +36.70 (+2.79%)
P/E
120.61
View as Markdown
MCP
Close 3 Nov 2026 ₹1,350.80 +309.10 +29.7% since 17 Aug 2026
Start ₹1,041.70

Key Fundamentals

SmallcapMedical Equipment & SuppliesHealthcare

Price-based figures as of · TTM

ROCE
18.00%
Debt to Equity
0.31
EPS (TTM)
₹11.20
Book Value
₹118.84
Market Cap
—
P/E (TTM)
120.61
P/B
11.37
ROE
13.80%
Dividend Yield
0.00%
EBITDA
₹331 Cr
52W High
₹1,686.80
52W Low
₹926.35
Day Range
₹1,305.00 – ₹1,364.40
Volume
5,96,682

Peer Comparison

Healthcare › Healthcare Equipment & Supplies › Medical Equipment & Supplies

Molbio Diagnostics peer comparison
Poly Medicure
₹1,496.2048.12₹15,151 Cr4.880.24%9.02%12.50%₹1,997 Cr₹313 Cr
Molbio Diagnostics (this company)
₹1,350.80120.61₹15,109 Cr11.370.00%13.80%18.00%₹1,077 Cr₹125 Cr
Fischer Medical Ventures
₹24.6364.82₹1,626 Cr3.520.20%8.91%11.40%₹367 Cr₹24 Cr
Tarsons Products
₹297.55142.37₹1,567 Cr2.490.69%2.44%4.59%₹441 Cr₹11 Cr
Q-Line Biotech
₹521.8524.73₹1,223 Cr2.490.00%26.00%22.40%₹201 Cr₹34 Cr
Laxmi Dental
₹181.5132.35₹1,008 Cr4.100.00%14.80%15.00%₹287 Cr₹31 Cr
Hemant Surgical Industries
₹597.35—₹850 Cr5.540.00%16.90%18.90%——
Median 7 companies₹521.8556.47₹1,567 Cr4.100.00%13.80%15.00%₹404 Cr₹33 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Key Insights

Strengths

1
  • Company's working capital requirements have reduced from 179 days to 143 days

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish397
OscillatorsNeutral252
Moving AveragesBullish145

Key readings

RSI (14)
51.62
Neutral
MACD (12,26,9)
−4.35
Bearish
SMA (50)
1,300.65
Bullish
SMA (200)
—
Neutral

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.

Revenue

Revenue growth by window
5Y+0.65%
3Y+58.94%
1Y+35.22%

Net profit

Net profit growth by window
5Y−18.77%
3Y+108.49%
1Y+3.57%

Operating cash flow

Operating cash flow growth by window
5YTurned negative
3YTurned negative
1YTurned negative

Operating margin· change in pp

Operating margin growth by window
5Y−27.62 pp
3Y+6.96 pp
1Y−4.08 pp

Trailing twelve months: Results are not reported for each of the last eight quarters, so there is no trailing-twelve-month figure.

Revenue by year

Revenue by year, ₹ crore
Mar 2021₹1,271 Cr
Mar 2022₹776 Cr
Mar 2023₹327 Cr
Mar 2024₹756 Cr
Mar 2025₹971 Cr
Mar 2026₹1,313 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2021₹410 Cr
Mar 2022₹187 Cr
Mar 2023₹16.00 Cr
Mar 2024₹111 Cr
Mar 2025₹140 Cr
Mar 2026₹145 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹478 Cr +44.6% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 28 Oct 2026
AI opinion · based on fundamentals
Risk high

Molbio Diagnostics trades at ₹1,312.7 per share as of 2026-10-28 with a market cap of ₹15,127.55 Cr. The company shows strong TTM sales growth of 35% but carries a PE of 117.21x, reflecting premium valuation. Its debt-to-equity ratio stands at a conservative 0.31, while ROE at 12.54% and ROCE at 16.63% indicate moderate capital efficiency.

Bull Case 8
  • TTM compounded sales growth of 35% indicates strong recent revenue momentum, suggesting robust demand for the company's diagnostic products
  • Low debt-to-equity ratio of 0.31 as of 2026-10-28 reflects a conservatively leveraged balance sheet, reducing financial risk
  • ROCE of 16.63% is healthy and exceeds the cost of capital for most Indian companies, indicating productive deployment of total capital
  • 3-year compounded sales CAGR of 59% demonstrates a strong medium-term revenue expansion track record
  • Working capital cycle has improved from 179 days to 143 days, freeing up cash and improving operational efficiency
  • 3-year ROE average of 15% and 5-year ROE average of 16% show consistent ability to generate returns on shareholder equity over time
  • The stock is trading at ₹1,312.7 versus its 52-week low of ₹926.35, representing a recovery of approximately 42% from the bottom, reflecting renewed investor interest
  • 3-year compounded profit CAGR of 111% shows very strong earnings growth over the medium term, albeit from a potentially low base
Bear Case 7
  • Price-to-book ratio of 11.05x implies the stock trades at a steep premium to its book value, making valuation demanding
  • TTM compounded profit growth of only 1% versus TTM sales growth of 35% suggests significant margin compression or rising costs eroding profitability
  • 5-year compounded profit CAGR of -19% indicates that over a longer horizon, earnings have actually declined, raising concerns about sustainable profitability
  • Dividend yield of 0% as of 2026-10-28 means shareholders receive no income return, relying entirely on capital appreciation
  • Current ROE of 12.54% has declined from the 5-year average of 16%, suggesting a deteriorating trend in return on equity
  • The stock trades approximately 22% below its 52-week high of ₹1,686.8, indicating the stock has faced notable selling pressure from its peak
  • 5-year compounded sales CAGR of just 1% raises questions about the durability of the recent 35% TTM sales growth and whether it is a one-off rebound rather than a structural trend

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

11h ago

TL;DR: Molbio Diagnostics is delivering strong growth with FY26 revenue up 41.7% and a dramatic Q1FY27 turnaround, powered by its Truenat platform's expanding installed base and shift to recurring consumable revenue. Key risks centre on heavy concentration in TB testing (70% of revenue) and top-10 customers (83% of revenue), dependence on government tenders, and a stretched valuation near 90x earnings. The trend is clearly improving operationally with volume acceleration and margin expansion, but the stock needs to grow into its valuation — execution on private-sector penetration and assay menu expansion over FY27-29 will be the critical test.

Headwinds 6
  • Heavy customer concentration risk Oct 5

    Top 10 customers account for ~83% of FY26 revenue and TB test kits alone represent 70.2% of FY26 revenue and 96% of test-kit volumes, creating significant concentration risk.

  • Government order dependence Oct 5

    Reliance on government healthcare tenders and institutional procurement leads to uneven quarterly results due to tender awards, approvals, and shipment schedules.

  • Stock fell 7.86% in a day Oct 22

    Shares traded at ₹1,322 on Oct 21, down 7.86% from the previous close of ₹1,434.80, indicating near-term selling pressure.

Positives 6
  • Strong FY26 revenue and profit Oct 22

    FY26 revenue grew 41.7% YoY to ₹1,446 crore and net profit rose 14.9% to ₹164 crore, with test-kit volumes doubling from 8.8M to 17.6M units at a 41% CAGR over FY24-26.

  • Q1FY27 revenue surged 4x Oct 22

    Q1FY27 revenue jumped to ₹408.4 crore from ₹99.7 crore YoY, with EBITDA swinging to ₹103.7 crore from a loss of ₹14.5 crore and test-kit volumes reaching 6.2M units vs 0.8M.

  • Massive recurring revenue moat Oct 22

    Consumables accounted for 74-75% of product revenue with 12,500+ Truenat devices installed across 90+ countries and 40M+ tests conducted, creating a durable annuity stream.

Neutral 1
  • Kotak MF crosses 5% stake Oct 13

    Kotak Mahindra Mutual Fund acquired 570,000 shares, raising its holding to 5.4834% under SAST regulations, signalling institutional interest in the recently listed stock.

Quarterly Results

₹ Cr
MOLBIO quarterly results, ₹ crore
Particulars Jun 2025Mar 2026Jun 2026
Sales
95
439
399
Expenses
105
332
308
Operating Profit
−10
107
92
OPM %
−10%
24%
23%
Other Income
1
3
1
Interest
2
9
9
Depreciation
7
10
8
PBT
−17
91
76
Tax %
−23%
28%
25%
Net Profit
−13
66
57
EPS (₹)
−5.95
5.83
5.02

Profit & Loss

₹ Cr
MOLBIO profit and loss, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
1,271
776
327
756
971
1,313
Expenses
676
457
286
552
746
1,061
Operating Profit
595
319
40
204
226
252
OPM %
47%
41%
12%
27%
23%
19%
Other Income
1
5
8
−21
−2
4
Interest
35
25
6
8
9
23
Depreciation
12
42
19
24
26
36
PBT
549
258
23
152
188
198
Tax %
25%
27%
32%
27%
26%
27%
Net Profit
410
187
16
111
140
145
EPS (₹)
2,027
833
69
493
62
12.83
Div. Payout %
0%
0%
0%
0%
0%
0%

Balance Sheet

₹ Cr
MOLBIO balance sheet, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
2
2
2
2
2
11
Reserves
333
681
737
848
988
1,123
Borrowings
257
105
57
70
26
346
Other Liabilities
215
85
123
157
291
260
Total Liabilities
806
874
920
1,077
1,307
1,741
Fixed Assets
55
182
189
209
215
257
CWIP
100
0
0
2
18
6
Investments
9
9
54
54
95
317
Other Assets
643
683
676
813
980
1,160
Total Assets
806
874
920
1,077
1,307
1,741

Cash Flow

₹ Cr
MOLBIO cash flow, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
344
98
68
38
249
−38
Investing
−142
−87
−51
−31
−98
−256
Financing
−192
−20
31
−24
−17
292
Net Cash Flow
10
−9
48
−18
133
−2
Free Cash Flow
212
35
55
24
206
−74
CFO/OP
78
53
251
39
139
6

Ratios

MOLBIO financial ratios, annual
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
61
113
194
174
86
100
Inventory Days
261
402
885
393
395
286
Days Payable
124
64
201
129
226
130
Cash Conversion Cycle
198
450
877
438
254
256
Working Capital Days
75
206
479
239
155
143
ROCE %
—
41%
4%
22%
21%
18%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Molbio Diagnostics insights

33 extracted metrics across FY21–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 41.29%
  • Public 25.00%
  • DIIs 19.08%
  • Others 13.04%
  • FIIs 1.59%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

A trend needs at least two reported periods.

Documents

Frequently Asked Questions about Molbio Diagnostics

What does Molbio Diagnostics Ltd do?
Molbio Diagnostics is an innovative point- of-care (POC) diagnostics company that develops affordable, rapid, and accurate diagnostic solutions for infectious and non-communicable diseases.
Where is Molbio Diagnostics Ltd (MOLBIO) listed?
Molbio Diagnostics Ltd trades as MOLBIO on the NSE and under code 544866 on the BSE.
Which sector does Molbio Diagnostics Ltd belong to?
Molbio Diagnostics Ltd is classified under the Healthcare sector, in the Healthcare Equipment & Supplies industry.
What is the PE ratio of Molbio Diagnostics Ltd?
Molbio Diagnostics Ltd trades at a PE ratio of 120.61 as of 3 Nov 2026, on earnings per share of ₹11.2, against a book value of ₹118.84 per share.
What is the 52-week high and low of Molbio Diagnostics Ltd?
Over the last 52 weeks Molbio Diagnostics Ltd has traded between ₹926.35 and ₹1,686.8 as of 3 Nov 2026.
What is the Return on Equity (ROE) of Molbio Diagnostics Ltd?
Molbio Diagnostics Ltd reported a return on equity of 13.80%. Its debt-to-equity ratio is 0.31.

Company Information

Molbio Diagnostics is an innovative point- of-care (POC) diagnostics company that develops affordable, rapid, and accurate diagnostic solutions for infectious and non-communicable diseases. Its flagship product, Truenat, is a portable, battery-powered PCR testing platform that delivers results within an hour. Designed for use in resource-limited settings, it enables quick and decentralised disease diagnosis at the point of care. Through its wholly owned subsidiary, Bigtec Labs, Molbio has strong research and development capabilities focused on creating diagnostic platforms for point-of- care (POC) testing. From product development to large-scale deployment, the company aims to improve access to reliable and affordable healthcare for everyone.

Website molbiodiagnostics.com
Listed 17 Aug 2026
Face Value ₹1

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