Vijaya Diagnostic Centre Ltd
VIJAYA NSE
Vijaya Diagnostic Centre Ltd
HealthcareNSE: VIJAYA BSE: 543350 Healthcare Services
Key Fundamentals
SmallcapHealthcare Service ProviderHealthcare ServicesMarket Cap
₹15,528 Cr
Volatility
Moderate
P/E Ratio
82.25
EBITDA
₹337 Cr
Return on Equity
17.99%
Debt to Equity
0.44
Book Value
₹92.93
EPS
₹12.23
52W High
₹1,573
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 16.2 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 17h agoAI opinion · based on fundamentals
Risk high
Vijaya Diagnostic Centre Ltd is a mid-cap diagnostics chain with a market cap of ~₹15,342 crore, trading at a PE of 81x and 15.87x book value. The company delivered FY25 revenue of ₹681 crore (up 24.4% YoY) with EBITDA margins of ~40% and has expanded its network to over 160 centres across 6 states, though its valuation remains significantly above sector averages.
Bull Case 8
- Strong revenue growth trajectory — FY25 revenue grew 24.4% YoY to ₹681 crore, with a 3-year sales CAGR of 21%
- Healthy profitability with FY25 EBITDA margin of 40.1% and PAT of ₹1,431 Mn (21% PAT margin), reflecting operating leverage
- Consistent profit compounding — 3-year profit CAGR of 27% and TTM profit growth of 24%
- Aggressive network expansion — centres doubled from 81 to ~162 over five years, now present across 6 states and 25+ cities with over 200 centres currently
- Steady return ratios with 3-year average ROE of 19% and last year ROE of 20%, indicating efficient capital deployment
- Geographic diversification underway with new hubs in Pune, Bengaluru, Kolkata, and West Bengal reducing dependence on Telangana/AP home markets
- Stock CAGR of 40% over 1 year and 47% over 3 years reflects strong market confidence in the growth runway
- Q1 FY27 showed continued momentum with 22.8% revenue growth and margin expansion, indicating no near-term slowdown
Bear Case 8
- Extremely expensive valuation at PE of 81x — significantly above the diagnostics sector median, leaving little room for execution misses
- Price-to-book ratio of 15.87x is very elevated, indicating the stock prices in substantial future growth that may not materialise
- Working capital days deteriorated sharply from -3.87 days to 65.1 days, suggesting cash conversion efficiency has weakened considerably
- Dividend yield of just 0.14% offers negligible income return to shareholders at current prices
- New centre expansion (Pune, Bengaluru, West Bengal) carries execution risk — these are competitive markets with established incumbents like Metropolis and SRL
- Q4 FY25 organic revenue growth slowed to ~13% vs 28.3% in Q4 FY24, indicating potential deceleration in the base business
- Planned CapEx of ₹190-195 crore for 9 new hubs and 10-12 spokes will pressure free cash flow in the near term
- Heavy concentration in South India (Telangana and AP) means regional disruptions or competitive intensity could disproportionately impact revenues
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 17h 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.
- Q1FY27 revenue and network expansion Aug 6
Q1FY27 revenue at ₹2,037 Mn with EBITDA of ₹850 Mn. Network expanded to 166 centres and AI diagnostics launched.
Neutral 4
- Fractional merger claims settled Aug 7
Vijaya Diagnostic distributed ₹51.84 lakh from sale of fractional shares arising from amalgamation with Medinova Diagnostic Services.
- 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.
- Q1FY27 earnings call scheduled Jul 28
Earnings conference call hosted on August 7, 2026 at 10:30 AM IST, moderated by JM Financial, discussing quarter ended June 30, 2026.
- Postal ballot for two directors Jul 20
Shareholder approval sought for appointment of two Independent Directors via e-voting from July 21 to August 20, 2026.
TL;DR: Vijaya Diagnostic is delivering strong growth with 36% profit increase in Q1FY26 and continued momentum into Q1FY27 backed by network expansion to 166 centres and AI diagnostics. No material headwinds are visible in recent news flow. The company is actively engaging investors and strengthening board governance. The trend is clearly improving with healthy revenue growth and margin expansion.
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
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.
2
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.
3
Announcement under Regulation 30 (LODR)-Newspaper Publication
8 May - Newspaper Advertisement Of Audited Financial Results Of The Quarter and Year Ended March 31, 2026 8 May - Newspaper Advertisement Of Audited Financial Results Of The Quarter and Year Ended March 31, 2026
4
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
8 May - Audio recording of Q4 FY2026 earnings conference call posted after audited results. 8 May - Audio recording of Q4 FY2026 earnings conference call posted after audited results.
5
Announcement under Regulation 30 (LODR)-Change in Management
7h - Board approved FY26 audited results, ₹2 final dividend, 1,79,500 ESOPs, and acquisition of MRI/EEG/NCV business for ~₹4.2 crore. 7h - Board approved FY26 audited results, ₹2 final dividend, 1,79,500 ESOPs, and acquisition of MRI/EEG/NCV business for ~₹4.2 crore.
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 ₹15528.15 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 82.25. 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 ₹1,573. 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 0.13%. 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]