Vijaya Diagnostic Centre Ltd
VIJAYA NSE
Vijaya Diagnostic Centre Ltd
HealthcareNSE: VIJAYA BSE: 543350 Healthcare Services
Key Fundamentals
MicrocapHealthcare Service ProviderHealthcare ServicesMarket Cap
₹14,518 Cr
Volatility
Moderate
P/E Ratio
74.11
EBITDA
₹337 Cr
Return on Equity
17.99%
Debt to Equity
0.44
Book Value
₹92.93
EPS
₹12.23
52W High
₹1,440
52W Low
₹848
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Vijaya Diagnostic Centre Ltd insights
43 extracted metrics + investor summaries across FY18–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
2- Stock is trading at 14.5 times its book value
- Working capital days have increased from -3.87 days to 65.1 days
Growth Rate
Revenue Growth
16.36% ↗
Net Income Growth
26.56% ↗
Cash Flow Change
22.46% ↗
ROE
-0.77% ↘
ROCE
-1.44% ↘
EBITDA Margin (Avg.)
-3.17% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk medium
Vijaya Diagnostic Centre Ltd is a mid-cap diagnostics chain trading at a market cap of ~₹13,980 crore with a PE of 79.9x and P/B of 14.4x. The company delivered FY25 consolidated revenue of ₹681 crore (up 24.4% YoY) with EBITDA margin of 40.1% and PAT margin of 21%, while expanding its network from 81 to 162 centres across six states over five years.
Bull Case 8
- Strong revenue growth trajectory — FY25 revenue grew 24.4% YoY to ₹681 crore, with 3-year compounded sales CAGR of 21%
- Healthy profitability — FY25 EBITDA margin at 40.1% and PAT margin at 21%, indicating strong operating leverage in the diagnostics model
- Consistent profit compounding — 3-year compounded profit CAGR of 27% and TTM profit growth of 25%
- Steady ROE of ~19-20% over 3 and 5 year periods, reflecting efficient capital allocation
- Aggressive network expansion — doubled centres from 81 to 162 and expanded from 2 to 6 states in five years, with 10 new hubs planned for FY26
- Volume-driven growth model — management guides 15%+ revenue CAGR over next three years, backed by 13% volume growth and 1.5-2% price/mix
- EPS grew from ₹11.62 in FY24 to ₹13.95 in FY25, a 20% increase, demonstrating earnings per share accretion despite network investments
- New centres achieving early break-even (e.g., Yelahanka Hub, Bengaluru), suggesting scalable unit economics in newer geographies
Bear Case 8
- Expensive valuation — PE of 79.9x is significantly above the broader market and most healthcare peers, leaving limited margin of safety
- Trading at 14.4x book value, indicating the stock prices in substantial future growth that must be delivered consistently
- Working capital days deteriorated sharply from -3.87 days to 65.1 days, signalling potential cash conversion challenges as the network scales
- Negligible dividend yield of 0.15% (₹2 per share on FY25), offering minimal income return to shareholders at current prices
- EBITDA margin expected to dip 1-2% for a few quarters due to ramp-up costs of new centres, pressuring near-term profitability
- Q4 FY25 revenue growth moderated to 11.6% YoY versus 24.4% full-year growth, indicating potential slowdown in mature markets
- Capex intensity rising with ₹140-150 crore planned for FY26 expansion, which could strain free cash flows in the medium term
- Geographic concentration risk — despite expansion to 6 states, the company remains heavily weighted toward Telangana/Andhra Pradesh markets
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Positives 2
- Q1FY26 profit surges 36% YoY Aug 6
Consolidated net profit rose 36% YoY to ₹531.01 lakh for Q1FY26 on 22.8% revenue growth. Board recommended a 200% dividend.
- Experienced CFO reappointed Jul 9
Narasimha Raju K.A. appointed CFO effective July 09, 2026, bringing 20+ years of experience and prior tenure as company CFO from 2021 to 2025.
Neutral 4
- Q1FY27 earnings call recorded Aug 7
Vijaya Diagnostic released the audio recording of its Q1FY27 earnings call conducted on August 07, 2026, filed with NSE and BSE.
- Fractional share proceeds distributed Aug 7
Distributed ₹51.84 lakh from sale of 3,914 fractional shares post-Medinova merger, with ₹36.85 lakh placed in escrow for unlocated shareholders.
- EMKAY Confluence 2026 attendance Jul 29
Company officials will attend the EMKAY Confluence 2026 investor conference in Mumbai on August 12, 2026, for analyst and institutional investor meetings.
- Postal ballot for two directors Jul 20
Shareholder approval sought for two Independent Directors via e-voting open from July 21 to August 20, 2026.
TL;DR: Vijaya Diagnostic is delivering strong financial performance with 36% profit growth and robust revenue expansion, supported by a generous 200% dividend and stable leadership with a seasoned CFO returning. No material headwinds emerged in the recent news cycle. Active investor engagement and board strengthening signal confidence. The trend is clearly positive with growth momentum intact heading into FY27.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 121 | 139 | 133 | 155 | 156 | 183 | 169 | 173 | 188 | 202 | 205 | 219 | 231 |
| Expenses | 73 | 82 | 80 | 92 | 95 | 107 | 102 | 104 | 115 | 120 | 119 | 124 | 132 |
| Operating Profit | 48 | 57 | 52 | 63 | 61 | 76 | 67 | 69 | 74 | 82 | 86 | 96 | 99 |
| OPM % | 40% | 41% | 39% | 41% | 39% | 42% | 40% | 40% | 39% | 41% | 42% | 44% | 43% |
| Other Income | 6 | 7 | 3 | 3 | 4 | 5 | 5 | 5 | 7 | 6 | 5 | 2 | 9 |
| Interest | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 8 | 9 | 9 | 11 |
| Depreciation | 12 | 14 | 15 | 16 | 17 | 17 | 18 | 19 | 21 | 22 | 24 | 24 | 25 |
| PBT | 35 | 45 | 35 | 44 | 42 | 57 | 47 | 47 | 52 | 58 | 58 | 64 | 71 |
| Tax % | 26% | 25% | 25% | 23% | 25% | 26% | 24% | 26% | 26% | 25% | 26% | 25% | 25% |
| Net Profit | 26 | 34 | 26 | 34 | 32 | 42 | 35 | 35 | 39 | 43 | 43 | 48 | 53 |
| EPS in Rs | 2.57 | 3.26 | 2.53 | 3.27 | 3.06 | 4.1 | 3.43 | 3.4 | 3.76 | 4.21 | 4.2 | 4.66 | 5.16 |
Profit & Loss
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 251 | 293 | 339 | 377 | 462 | 459 | 548 | 681 | 814 | 857 |
| Expenses | 171 | 184 | 206 | 211 | 259 | 277 | 327 | 408 | 477 | 495 |
| Operating Profit | 80 | 108 | 133 | 166 | 204 | 182 | 221 | 273 | 337 | 362 |
| OPM % | 32% | 37% | 39% | 44% | 44% | 40% | 40% | 40% | 41% | 42% |
| Other Income | 7 | 10 | 15 | 12 | 13 | 14 | 19 | 17 | 21 | 22 |
| Interest | 5 | 14 | 15 | 15 | 16 | 21 | 24 | 27 | 33 | 37 |
| Depreciation | 26 | 40 | 49 | 50 | 53 | 62 | 57 | 71 | 92 | 96 |
| PBT | 55 | 65 | 83 | 112 | 147 | 114 | 159 | 193 | 233 | 251 |
| Tax % | 37% | 29% | 25% | 24% | 25% | 25% | 25% | 26% | 26% | — |
| Net Profit | 35 | 46 | 63 | 85 | 111 | 85 | 120 | 144 | 173 | 187 |
| EPS in Rs | 77.44 | 101 | 138 | 18.64 | 10.76 | 8.29 | 11.61 | 13.94 | 16.81 | 18.23 |
| Div. Payout % | 0% | 0% | 0% | 0% | 9% | 12% | 9% | 14% | 12% | — |
Balance Sheet
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 10 | 10 | 10 | 10 | 10 |
| Reserves | 157 | 203 | 270 | 354 | 458 | 535 | 647 | 785 | 947 |
| Borrowings | 33 | 146 | 161 | 141 | 183 | 248 | 259 | 320 | 423 |
| Other Liabilities | 39 | 53 | 46 | 41 | 62 | 61 | 66 | 158 | 127 |
| Total Liabilities | 234 | 406 | 482 | 541 | 713 | 853 | 983 | 1,274 | 1,507 |
| Fixed Assets | 119 | 259 | 272 | 268 | 370 | 524 | 742 | 865 | 1,070 |
| CWIP | 3 | 3 | 10 | 9 | 34 | 28 | 9 | 70 | 34 |
| Investments | 73 | 69 | 55 | 28 | 54 | 139 | 109 | 185 | 228 |
| Other Assets | 39 | 76 | 146 | 236 | 255 | 163 | 123 | 154 | 174 |
| Total Assets | 234 | 406 | 482 | 541 | 713 | 853 | 983 | 1,274 | 1,507 |
Cash Flow
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 62 | 91 | 106 | 130 | 158 | 165 | 183 | 224 | 271 |
| Investing | -98 | -90 | -31 | -130 | -123 | -110 | -141 | -182 | -174 |
| Financing | -8 | -7 | -30 | -49 | -31 | -42 | -45 | -52 | -69 |
| Net Cash Flow | -44 | -6 | 46 | -49 | 4 | 13 | -2 | -9 | 27 |
| Free Cash Flow | 32 | 31 | 69 | 98 | 37 | 40 | 99 | 132 | 91 |
| CFO/OP | 103 | 101 | 98 | 97 | 97 | 105 | 98 | 97 | 96 |
Ratios
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 12 | 11 | 9 | 6 | 8 | 8 | 11 | 8 | 9 |
| Inventory Days | 24 | 20 | 23 | 17 | 22 | 13 | 29 | 21 | 19 |
| Days Payable | 176 | 196 | 180 | 142 | 110 | 172 | 184 | 143 | 145 |
| Cash Conversion Cycle | -140 | -165 | -149 | -118 | -81 | -152 | -144 | -114 | -117 |
| Working Capital Days | -41 | -51 | -49 | -26 | -34 | -36 | -29 | -48 | 65 |
| ROCE % | — | 28% | 23% | 27% | 28% | 18% | 20% | 21% | 21% |
Documents
1
Announcement under Regulation 30 (LODR)-Newspaper Publication
8 Aug - Copy of News paper publication for Q1 results 8 Aug - Copy of News paper publication for Q1 results
2
Audit Committee And Independent Director Report Certifying The Distribution Of Proceeds To Shareholders Of Medinova Diagnostic Services Limited For Fractional Entitlements Under Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93 Dated June 20, 2023
7 Aug - Audit and independent director reports certify Rs 51.85 lakh fractional entitlement proceeds distributed on August 5, 2026. 7 Aug - Audit and independent director reports certify Rs 51.85 lakh fractional entitlement proceeds distributed on August 5, 2026.
3
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
7 Aug - Audio recording of Q1 FY2027 earnings conference call shared on August 7, 2026. 7 Aug - Audio recording of Q1 FY2027 earnings conference call shared on August 7, 2026.
4
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
13h - Postal ballot passed on May 9, 2026; Ravi Shankararamiah and Sasikala Paruchuri Kola appointed independent directors. 13h - Postal ballot passed on May 9, 2026; Ravi Shankararamiah and Sasikala Paruchuri Kola appointed independent directors.
5
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
12h - Postal ballot approved appointments of Ravi Shankararamiah and Dr. Sasikala Paruchuri Kola as independent directors. 12h - Postal ballot approved appointments of Ravi Shankararamiah and Dr. Sasikala Paruchuri Kola as independent directors.
Frequently Asked Questions about Vijaya Diagnostic Centre Ltd
What does Vijaya Diagnostic Centre Ltd do?
Vijaya Diagnostics Centre limited is a leading diagnostic medicare services provider in Southern India and offers comprehensive services that include nuclear medicine, radiology, laboratory, health check-ups and medical services. The company provides its services across 13 cities through its 81 d...
Where is Vijaya Diagnostic Centre Ltd (VIJAYA) listed?
Vijaya Diagnostic Centre Ltd is listed on the Indian stock exchanges. It is listed on NSE: VIJAYA and BSE: 543350. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Vijaya Diagnostic Centre Ltd belong to?
Vijaya Diagnostic Centre Ltd operates in the Healthcare sector within the Healthcare Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Vijaya Diagnostic Centre Ltd?
Vijaya Diagnostic Centre Ltd has a market capitalisation of approximately ₹14517.70 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Vijaya Diagnostic Centre Ltd?
The Price-to-Earnings (PE) ratio of Vijaya Diagnostic Centre Ltd is 74.11. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Vijaya Diagnostic Centre Ltd?
Over the past 52 weeks, Vijaya Diagnostic Centre Ltd has traded between a low of ₹848 and a high of ₹1,440. This range helps investors understand the stock's price volatility and recent trading levels.
Does Vijaya Diagnostic Centre Ltd pay dividends?
Yes, Vijaya Diagnostic Centre Ltd has a dividend yield of 0.15%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Vijaya Diagnostic Centre Ltd?
Vijaya Diagnostic Centre Ltd has a Return on Equity (ROE) of 17.99%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Vijaya Diagnostic Centre Ltd on Tapetide?
On Tapetide, you can view Vijaya Diagnostic Centre Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Vijaya Diagnostics Centre limited is a leading diagnostic medicare services provider in Southern India and offers comprehensive services that include nuclear medicine, radiology, laboratory, health check-ups and medical services. The company provides its services across 13 cities through its 81 diagnostic centers and 11 reference laboratories.[1]