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

Executive summary

• Doubled centers from 81 to 162 and expanded from two to six states over five years, focusing on quality, technology, and talent investment.

• Achieved 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.

• PAT for FY26 reached INR 1,730 Mn (21.2% margin), up 20.3% YoY; Q4 FY26 PAT was INR 479 Mn (21.8% margin), up 37.5% YoY.

• Amalgamation of Medinova Diagnostic Services Limited completed, with comparatives restated from the previous year.

Financial highlights

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

• FY26 EBITDA at INR 3,369 Mn (41.4% margin), up 23.3% YoY; Q4 EBITDA at INR 955 Mn (43.5% margin), up 38.7% YoY.

• FY26 PAT at INR 1,730 Mn (21.2% margin), up 20.3% YoY; Q4 PAT at INR 479 Mn (21.8% margin), up 37.5% YoY.

• Basic EPS (consolidated) for FY26 was INR 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 add 4-5 hubs and 10-12 spokes in FY27, with a new automated lab in Hyderabad and advanced genomic testing.

• CapEx guidance for FY27 is INR 140-150 crore, including new centers and lab automation.

• EBITDA margin guidance remains at 40%+, with management confident of exceeding this.

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

• Focus for next two years on center addition and volume-driven growth, with 1-1.5% realization growth.