Vijaya Diagnostic Centre (VIJAYA) Q4 22/23 earnings summary

Executive summary

• FY23 demand strengthened across non-COVID pathology and radiology; the 121-centre network expanded across 20 cities and exceeded its target of 15 new centres.

• Consolidated revenue and profit declined YoY, while a prospective depreciation-method change boosted FY23 profit before tax by ₹904.34 lakh.

Financial highlights

• Consolidated revenue from operations was ₹45,922.27 lakh vs ₹46,236.99 lakh in FY22, down 0.68% YoY; EBITDA was ₹18,202.73 lakh vs ₹20,369.01 lakh, down 10.64%.

• Consolidated PAT was ₹8,520.70 lakh vs ₹11,066.76 lakh; PBT was ₹11,351.00 lakh vs ₹14,738.43 lakh.

• Consolidated basic/diluted EPS was ₹8.29/₹8.26 vs ₹10.76/₹10.69 in FY22.

• Standalone revenue was ₹44,957.93 lakh, down 0.29% YoY; EBITDA was ₹17,897.01 lakh, down 10.45%, and PAT was ₹8,323.39 lakh vs ₹10,810.47 lakh.

• Management cited EBITDA of ₹1,820 Mn at 39.6% margin and PAT of ₹846 Mn at 18.4% margin.

Outlook and guidance

• Priorities include expanding into East India, consolidating core markets, and extending the hub-and-spoke network; a Kolkata hub was established, with more centres planned within two years.

• Growth plans emphasize digital transformation, advanced diagnostic technology, specialty and preventive tests, corporate wellness, and chronic disease management.

• Management expects sustainable YoY growth through market research-led expansion, centre-network improvements, and entry into underserved Tier II and Tier III locations.