VIJAYA

Vijaya Diagnostic Centre share price & financials

Price
₹1,341.3
Market cap
₹14.7k Cr
Sector
Healthcare
Calls analysed
6
Latest concall · Q1 FY27 · call held 07 Aug 2026

Vijaya Diagnostic Centre Limited Q1 FY27

Revenue ₹231 cr +23%EBITDA ₹98 cr +34%EBITDA Margin 42.7% PAT ₹53 cr +38%

What went well

  • Consolidated revenue grew 22.8% YoY to ₹231 crores.
  • EBITDA increased 34% YoY to ₹98 crores.
  • EBITDA margin expanded by 360 basis points to 42.7%.
Read the full call →

What Vijaya Diagnostic Centre Limited does

Vijaya Diagnostic Centre operates an integrated network of diagnostic centres offering both pathology (lab testing) and radiology (imaging) services under one roof, primarily serving walk-in retail (B2C) patients. The company runs on a hub-and-spoke model, with larger flagship hubs supported by smaller satellite spoke centres, and also offers online booking and home sample collection. It has grown from a single Hyderabad centre founded in 1981 into a multi-city chain, expanding organically and via acquisitions (PH Diagnostic Centre in Pune, co-branded Vijaya PH; merger of Medinova Diagnostic Services in Kolkata) into West and East India.

Segments

  • Pathology
  • Radiology
Diagnostic centres
162
Cities and towns covered
27
NABL-accredited labs
17
Radiologists, lab doctors & physicians
350+
MRI machines
43
CT machines
40
Founded 1981Headquarters Hyderabad, Telangana Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 5 delivered 0 missed 10 open
  • Revenue Growth CAGR delivered said Q4 FY25 Promised: 15% plus CAGR over the next 2-3 years Q1 FY27: The first year (FY26) of the 2-3 year promise was achieved with 19.5% growth. The promise is considered fulfilled for its initial leg.
  • FY27 Capex revised up said Q2 FY26 Promised: Rs.100 to Rs.120 crores Q1 FY27: Guidance revised up again to INR 190-195 crores for FY27 to accommodate accelerated expansion, including 9 hubs and a flagship Bangalore facility.
  • New Hub Breakeven Timeline on track said Q4 FY25 Promised: 1 year from opening Q1 FY27: 2 new hubs commissioned in Q1 (Bengaluru, Gachibowli). While too early to assess breakeven, the company has a consistent track record of achieving this well within the 1-year target.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 22.9%, net profit up 35.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue183 169 173 188 202 +10%205 +21%219 +27%231 +23%
EBITDA76 67 69 74 82 +8%86 +28%96 +39%99 +34%
Net profit42 35 35 39 43 +2%43 +23%48 +37%53 +36%
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 +42.8% 1Y

₹1.0k₹1.2k₹1.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 13 Feb 2026Q4 FY26 — 8 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹1,051.5 on 10 Sept 2025 → ₹1,502. High ₹1,518.4 (31 Aug 2026), low ₹861.4 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−1.4%
7 Aug
Q4 FY26
+5.9%
8 May
Q3 FY26
−0.7%
13 Feb
Q2 FY26
+0.5%
4 Nov

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.

Financials, as filed

Revenue grew 21.0% a year over 3 years, FY23 to FY26. Operating margin widened to 41.5%.

Year endingFY23FY24FY25FY26
Revenue₹459 Cr₹548 Cr₹681 Cr₹814 Cr
Operating profit₹182 Cr₹220 Cr₹273 Cr₹338 Cr
Operating margin39.7%40.1%40.1%41.5%
Interest₹22 Cr₹24 Cr₹26 Cr₹33 Cr
Depreciation₹61 Cr₹57 Cr₹71 Cr₹91 Cr
Net profit₹85 Cr₹120 Cr₹144 Cr₹173 Cr
Net margin18.5%21.9%21.1%21.3%
Cash from operations₹165 Cr₹183 Cr₹224 Cr₹271 Cr
Free cash flow₹40 Cr₹99 Cr₹132 Cr₹91 Cr
ROCE18.0%20.0%21.0%21.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹5 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr
Reserves₹354 Cr₹458 Cr₹535 Cr₹647 Cr₹855 Cr₹947 Cr
Borrowings₹141 Cr₹183 Cr₹248 Cr₹259 Cr₹365 Cr₹423 Cr
Other liabilities₹41 Cr₹62 Cr₹61 Cr₹66 Cr₹160 Cr₹127 Cr
Total liabilities₹541 Cr₹713 Cr₹853 Cr₹983 Cr₹1.4k Cr₹1.5k Cr
Fixed assets₹268 Cr₹370 Cr₹524 Cr₹742 Cr₹984 Cr₹1.1k Cr
Capital work in progress₹9 Cr₹34 Cr₹28 Cr₹9 Cr₹45 Cr₹34 Cr
Investments₹28 Cr₹54 Cr₹139 Cr₹109 Cr₹229 Cr₹228 Cr
Other assets₹236 Cr₹255 Cr₹163 Cr₹123 Cr₹133 Cr₹174 Cr
Total assets₹541 Cr₹713 Cr₹853 Cr₹983 Cr₹1.4k Cr₹1.5k 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 Jun 2026

Since Jun 2025, FIIs trimmed −7.91 pp while DIIs added +7.54 pp. The shareholder count grew 8% to 67,251.

Promoters
52.5%
FIIs
11.7%
DIIs
31.6%
Public
4.2%

Since Jun 2025

  • FIIs −7.91 pp
  • DIIs +7.54 pp
  • Public +0.49 pp

How it drifted, 12 quarters

Over this window DIIs went from 18.6% to 31.6% — +13.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 54.9%, FIIs 20.7%, DIIs 18.6%, Public 5.8%.Dec '23: Promoters 54.9%, FIIs 19.9%, DIIs 19.8%, Public 5.4%.Mar '24: Promoters 54.1%, FIIs 20.1%, DIIs 20.8%, Public 5.0%.Jun '24: Promoters 53.9%, FIIs 20.1%, DIIs 21.5%, Public 4.5%.Sep '24: Promoters 53.9%, FIIs 18.1%, DIIs 23.4%, Public 4.5%.Dec '24: Promoters 53.9%, FIIs 17.5%, DIIs 24.6%, Public 3.9%.Mar '25: Promoters 53.0%, FIIs 19.4%, DIIs 23.7%, Public 3.9%.Jun '25: Promoters 52.6%, FIIs 19.6%, DIIs 24.1%, Public 3.7%.Sep '25: Promoters 52.6%, FIIs 18.3%, DIIs 25.3%, Public 3.8%.Dec '25: Promoters 52.6%, FIIs 15.1%, DIIs 28.6%, Public 3.7%.Mar '26: Promoters 52.5%, FIIs 13.4%, DIIs 29.9%, Public 4.2%.Jun '26: Promoters 52.5%, FIIs 11.7%, DIIs 31.6%, Public 4.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Vijaya Diagnostic Centre Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Surendranath Reddy Sura 32.23%unchanged
Suprita Sura Reddy 8.72%unchanged
Sunil Chandra Kondapally 7.56%unchanged
Kotak Small Cap Fund Mutual fund6.59%−0.40 pp
Nippon Life India Trustee Ltd-A/C Nippon India Pharma Fund Mutual fund5.64%−1.28 pp
Geetha Reddy Sura 3.94%unchanged
Axis Mutual Fund Trustee Limited A/C Axis Mutual F Mutual fund3.51%−0.10 pp
HDFC Mutual Fund - HDFC Nifty Smallcap 250 Index F Mutual fund3.34%newly disclosed
ICICI Prudential Quality Fund Mutual fund2.95%newly disclosed
HSBC Mutual Fund - HSBC Aggressive Hybrid Fund Mutual fund2.69%+1.03 pp
Motilal Oswal Nifty Smallcap 250 Index Fund Mutual fund1.61%+0.08 pp
Verdipapirfondet Odin Emerging Markets Global fund house1.02%newly disclosed

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.

Mutual funds in VIJAYA

Filings to Aug 2026

1 new, 5 added, 2 trimmed, 0 sold out — net +14.86 L shares (+17.6%).

Held by funds
₹1.4k Cr
10 schemes
Biggest holder
HDFC Small Cap Fund
₹607 Cr · 1.5% of that fund
SchemeHoldingLast month
HDFC Small Cap Fund HDFC Mutual Fund₹607 Cr+13.49 L
Nippon India Multi Cap Fund Nippon India Mutual Fund₹442 Cr−0.87 L
Nippon India Pharma Fund Nippon India Mutual Fund₹254 Crheld
HDFC Pharma and Healthcare Fund HDFC Mutual Fund₹66 Crheld
HDFC Children's Fund HDFC Mutual Fund₹30 Crnew
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹12 Cr+0.01 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹6 Cr+0.00 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 2 trimmed — net +14.86 L shares (+17.6%)

Funds are sitting on
+40%
vs est. average cost
Held by funds
₹1.4k Cr
10 schemes · ≈ 9.1% of the company
Biggest holder
HDFC Small Cap Fund
₹607 Cr · 1.5% of that fund
Longest holder
Nippon India Pharma Fund
5y · since Sep '21

Shares held by these funds +39%

Aug '23 1.00 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹1502, this stock must grow earnings at 41% every year for 7 years. Our analysis caps realistic growth at ~27%. At that growth it is worth ₹748 — downside of 50%.

Growth the price implies
41.2% a year
for 7 years, fading to 4%
It has actually compounded at
26.7% a year
net profit, FY23–FY26 · EPS 26.6%
The gap
0.1 pp
-50% downside if it only repeats history
Price today ₹1,502 Value at the reference growth ₹747.51

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Vijaya Diagnostic Centre Limited

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