Vijaya Diagnostic Centre (VIJAYA) Q3 24/25 earnings summary

Executive summary

• Achieved 27.3% year-on-year revenue growth in Q3 FY25 and 29.4% for 9M FY25, with organic growth at 20.2% and 21.0% respectively, driven by increased test volumes in Radiology and Pathology.

• Expanded network with new hubs and spokes in Pune, West Bengal, and Bengaluru, including the operationalization of the first centre in Pune post-PH acquisition.

• Investments in IT, AI-powered radiology software, and leadership talent have stabilized systems and improved operational efficiency.

• Unaudited consolidated and standalone financial results for Q3 and 9M FY25 were approved and released, with limited review reports issued without qualification.

Financial highlights

• Q3 FY25 consolidated revenue: INR 1,690 Mn (₹16,898.26 lakhs), up 27% year-on-year; 9M FY25 revenue: INR 5,081 Mn (₹50,814.76 lakhs), up 29% year-on-year.

• Q3 FY25 EBITDA: INR 671 Mn (39.7% margin), PAT: INR 352 Mn (20.8% margin); 9M FY25 EBITDA: INR 2,044 Mn (40.2% margin), PAT: INR 1,084 Mn (21.3% margin).

• Q3 FY25 consolidated net profit: ₹3,529.89 lakhs; 9M FY25 net profit: ₹10,892.88 lakhs.

• EPS for Q3 FY25: INR 3.4 (up 35.3% YoY); for 9M FY25: INR 10.6 (up 26.6% YoY).

• PH Pune Q3 revenue: INR 11 crore; YTD nine-month EBITDA margin for PH: 39%.

Outlook and guidance

• Targeting 15% CAGR over the next three years, with 13% volume growth and 2% value growth.

• Six new hubs to be commissioned in Pune, West Bengal, and Bengaluru in the next three months, totaling nine new hubs in 12 months.

• Expecting a temporary dip of 1%-2% in EBITDA margin due to simultaneous opening of multiple hubs, with normalization as new centers ramp up.

• EBITDA break-even for new hubs in Bengaluru and PH expected within one year.

• Board approved a proposed Scheme of Amalgamation for Medinova Diagnostic Services Limited to merge into the company, pending regulatory and shareholder approvals.