Krsnaa Diagnostics (KRSNAA) Q1 26/27 earnings summary

Executive summary

• Revenue grew 22% year-over-year in Q1 FY27, reaching INR 2,355 million, driven by new project ramp-ups, organic growth, and strong expansion in radiology and pathology.

• Retail business expanded rapidly, with 64% year-over-year growth, over 4,000 touchpoints, and higher patient engagement.

• Major PPP project wins, including the Himachal Pradesh CT project, have strengthened long-term revenue visibility.

• Served 5.1 million patients and performed 16.1 million tests in Q1 FY27, a 2% YoY increase.

• Investments in technology, AI, and innovative offerings are positioning the company for future growth.

Financial highlights

• Q1 FY27 consolidated revenue from operations: INR 2,355.32 million, up from INR 1,929.78 million in Q1 FY26 (22% growth).

• EBITDA: INR 588 million, margin of 25% (down from 27% YoY) due to upfront costs for new projects.

• PAT: INR 166 million, margin of 7%, down 19% YoY.

• Retail revenue: INR 193 million (9% of group revenue), up 64% YoY.

• Total expenses increased to INR 1,767 million (75% of revenue), with notable rises in fees to hospitals and other expenses.

Outlook and guidance

• Rajasthan PPP revenue expected to double in coming quarters, with annualized guidance of INR 100–175 crore.

• Margins anticipated to improve as new projects mature and utilization increases, targeting double-digit margins by year-end.

• Retail business expected to reach 10–15% of group revenue by year-end.

• Continued focus on expanding retail and PPP-based diagnostic services, leveraging scale and technology for sustainable growth.

• Management expects no material impact from ongoing tax proceedings on the financial position or performance.