Vijaya Diagnostic Centre (VIJAYA) Q4 25/26 earnings summary

Executive summary

• Achieved significant milestones over five years, doubling centers from 81 to 162, expanding from two to six states, and acquiring PH Diagnostic Centre in Pune.

• Workforce expanded from 2,000 to over 3,500 employees, with continued focus on talent and technology investments.

• Record consolidated revenue of INR 8,142 Mn (₹81,420.19 lakhs) in FY26, up 19.5% YoY, with Q4 FY26 revenue at INR 2,194 Mn, up 26.6% YoY.

• EBITDA margin improved to 41.4% for FY26 and 43.5% for Q4 FY26, reflecting operational efficiency.

• The amalgamation of Medinova Diagnostic Services Limited was completed, with comparatives restated from the beginning of the previous year.

Financial highlights

• FY26 consolidated revenue at INR 814 crore (₹81,420.19 lakhs), up 19.5% YoY; Q4 FY26 revenue at INR 219 crore (₹2,194 Mn), up 26.6% YoY.

• FY26 EBITDA at INR 337 crore (₹3,369 Mn, margin 41.4%); Q4 FY26 EBITDA at INR 95.5 crore (₹955 Mn, margin 43.5%).

• FY26 PAT at INR 173 crore (₹1,730 Mn, margin 21.2%); Q4 FY26 PAT at INR 47.9 crore (₹479 Mn, margin 21.8%).

• Basic EPS (consolidated) for FY26 was INR 16.8 (₹16.81), up from INR 13.99 in FY25.

• Gross profit margin for FY26 was 88.4%, up 81 bps YoY.

Outlook and guidance

• Plans to commission 4-5 hubs and 10-12 spokes in FY27, with a capital outlay of INR 140-150 crore.

• Automated lab in Hyderabad and advanced genomic testing to be introduced.

• EBITDA margin guidance remains at 40%+, with continued investment in technology and talent.

• Final dividend of ₹2 per equity share (200%) for FY26 recommended, subject to shareholder approval.

• Focus on organic growth in existing geographies; inorganic expansion considered only if value and ethos align.