INVICTA
Invicta Diagnostic financials
- Market cap
- ₹87 Cr
- Sector
- Healthcare
- Calls analysed
- 1
INVICTA H2 FY26
What went well
- Full year FY26 total income grew 9.48% YoY to INR33.04 crores.
- Full year FY26 EBITDA grew 12.48% YoY to INR10.45 crores, with margins improving to 31.63%.
- Net profit for the full year FY26 stood at INR4.87 crores, with a net profit margin of 14.74%.
What to watch
- H2 FY26 net profit was INR0.79 crores, significantly lower than H1, attributed to seasonal sales dip, year-end bonuses (INR1.4 crores), and increased depreciation (INR0.65 crores).
- Revenue growth moderated despite ongoing expansion, with management citing seasonality (H1 typically 55% of sales, H2 45%).
What Invicta Diagnostic Ltd does
Invicta Diagnostic Limited operates an integrated network of diagnostic centres across the Mumbai Metropolitan Region under the consumer brand PC Diagnostics, offering both radiology and pathology services. It runs a hub-and-spoke model: spoke centres handle basic radiology and pathology sample collection, hub centres perform advanced imaging such as MRI and CT, and a flagship centre in Thane provides full-suite diagnostics including PET-CT. Radiology — X-ray, ultrasound, CT, MRI and PET-CT — is the core of the business, with pathology (routine biochemistry and haematology tested in-house, specialised tests routed to outsourced reference laboratories) as a complementary service. Patients include individual walk-in and home-sample-collection customers as well as institutional clients such as hospitals, clinics and corporates.
Segments
- Radiology
- Pathology
- Diagnostic centres
- 8 (FY26, across MMR)
- Patients served
- 98,867 (FY26)
- Tests performed
- 1,54,675 (FY26)
- Radiology test menu
- 220+ tests (~96 basic + ~130 advanced)
- Pathology test menu
- 540+ tests (~60 routine + ~487 specialised)
- Tests per patient visit
- 1.56 (FY26)
Guidance record · Q4 FY26
what the last two calls moved 6 tracked 0 delivered 0 missed 6 open- Number of centers open said Q4 FY26 Promised: Increase the number of centers by around three times over the next 3 years. Q4 FY26: Announced a target to triple the number of centers over the next 3 years.
All 6 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
| Line item | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 11 | 10 |
| EBITDA | 5 | 3 |
| Net profit | 4 | 2 |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −12.1% YTD
YTD: ₹77.4 on 1 Jan 2026 → ₹68. High ₹102.75 (29 Apr 2026), low ₹59.05 (4 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −5.0%
- 23 May
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Equity capital | ₹0 Cr | ₹8 Cr | ₹13 Cr |
| Reserves | ₹9 Cr | ₹4 Cr | ₹37 Cr |
| Borrowings | ₹0 Cr | ₹2 Cr | ₹0 Cr |
| Other liabilities | ₹2 Cr | ₹3 Cr | ₹4 Cr |
| Total liabilities | ₹11 Cr | ₹17 Cr | ₹53 Cr |
| Fixed assets | ₹5 Cr | ₹4 Cr | ₹7 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹4 Cr | ₹8 Cr | ₹17 Cr |
| Other assets | ₹2 Cr | ₹6 Cr | ₹29 Cr |
| Total assets | ₹11 Cr | ₹17 Cr | ₹53 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Dec 2025, DIIs trimmed −5.92 pp while FIIs added +3.26 pp. The shareholder count shrank 25% to 411.
- Promoters
- 66.7%
- FIIs
- 4.2%
- DIIs
- 4.3%
- Public
- 24.8%
Since Dec 2025
- DIIs −5.92 pp
- FIIs +3.26 pp
- Public +2.66 pp
Who bought this quarter
since Dec 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Pine Oak Global Fund FPI fund newly disclosed 2.72% held
- Nihar Amit Dave newly disclosed 2.38% held
- Rgsl Investment Fund - Rgsl Investment Lvf 1 AIF newly disclosed 1.64% held
- Avora Sme Fund 1 AIF newly disclosed 1.16% held
- Investi Global Opportunity Fund Pcc - Cell 1 FPI fund newly disclosed 1.02% held
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Invicta Diagnostic Ltd above SEBI's 1% disclosure line, and what changed since Dec 2025.
| Holder | Stake | Change |
|---|---|---|
| Badal Kailash Naredi | 11.07% | unchanged |
| Rohit Prakash Srivastava | 11.07% | unchanged |
| Sanket Vinod Jain | 10.47% | unchanged |
| Jayesh Prakash Jain | 7.93% | unchanged |
| Monal Ketan Jain | 7.17% | unchanged |
| Dipika Jayantilal Jain | 4.76% | unchanged |
| Amol Purushottam Khandelwal | 4.03% | unchanged |
| Shine Star Build Cap Pvt Ltd NBFC / DFI | 3.22% | unchanged |
| Pine Oak Global Fund FPI fund | 2.72% | newly disclosed |
| Nihar Amit Dave | 2.38% | newly disclosed |
| Kushal Wayunandan Koli | 2.15% | unchanged |
| Kunal Anil Jain | 1.69% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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