Krsnaa Diagnostics (KRSNAA) Q4 25/26 earnings summary

Executive summary

• Achieved FY 2026 consolidated revenue of INR 7,728 million, EBITDA of INR 2,149 million (28% margin), and PAT of INR 1,014 million, with Q4 PAT up 101% year-over-year to INR 417 million.

• Served 20 million patients and processed 59 million tests in FY 2026, with a network of 190+ CT/MRI centers, 147 pathology labs, and 4,700+ collection centers across 18 states.

• Retail business grew six-fold to INR 600 million, now 8% of revenue, with 3,500+ touchpoints and plans to reach 25-30% of group revenue in 3-5 years.

• Major PPP expansion in Rajasthan underway, with full revenue contribution expected from Q2 FY 2027.

• Audited standalone and consolidated financial results for FY 2026 were approved with unmodified audit opinions; final dividend of INR 2 per share recommended.

Financial highlights

• FY 2026 consolidated revenue: INR 7,728 million (vs. INR 7,171 million prior year); standalone revenue: INR 6,909.47 million.

• EBITDA: INR 2,149 million (28% margin), up 10% year-over-year; PAT: INR 1,014 million (vs. INR 776 million prior year).

• Q4 FY26 revenue: INR 1,926 million, up 4% year-over-year; Q4 EBITDA margin at 29%, PAT doubled to INR 417 million.

• EPS grew to 31.3 (consolidated) and 31.69 (standalone) in FY 2026.

• PAT includes a one-time fair valuation gain from Apulki Healthcare investment.

Outlook and guidance

• Rajasthan project to contribute INR 1,000-1,500 million revenue in FY 2027, with upside as ramp-up completes.

• Retail expected to reach double-digit revenue share in FY 2027, with long-term target of 25-30%.

• EBITDA margins expected to be maintained at current levels, with some Q1 pressure due to upfront hiring.

• Management expects no material impact from ongoing tax proceedings and appeals.

• Receivables targeted to reduce to 120 days in FY 2027.