- POSITIVE
Annual Revenue Invicta Diagnostic Mar-2026 Annual Revenue is Rs 21 Cr which is growth of 20.7% YoY.
- POSITIVE
Annual Net Profit Invicta Diagnostic Mar-2026 Annual Net Profit is Rs 6 Cr which is growth of 2.7% YoY.
Invicta Diagnostic was incorporated on January 22, 2021. The company is a diagnostic chain in the Mumbai Metropolitan Region offering radiology and pathology services under the “PC Diagnostics” brand. It operates 7 diagnostic centres and 1 central laboratory, providing imaging, pathology, and teleradiology solutions
| Bidding Dates |
|---|
| 01 Dec 2025 - 03 Dec 2025 |
| Subscription |
|---|
| 4.05x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹256,000 | 2 | 2 | 1600 | 3.3 M | ₹80 - ₹85 | 66.7 % | ₹264.7 M - ₹281.2 M | RHP DOC |
Invicta Diagnostic IPO SUBSCRIPTION STATUS
03 Dec '25Total4.05x
Retail Individual Investor4.96x
HNI (NII) Investors10.47x
Qualified Institutional Buyers1.49x
Invicta Diagnostic IPO overall subscription rate was 4.05 times the total available shares
Invicta Diagnostic IPO retail subscription rate was 4.96 times in the retail segment
Invicta Diagnostic IPO non-institutional investor subscription rate was 10.47 times in the non-institutional investor category
Invicta Diagnostic IPO Qualified Institutional Bidder subscription rate was 1.49 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Dec 2025 (Day 3) | 4.96x | 10.47x | 1.49x |
02 Dec 2025 (Day 2) | 1.13x | 1.5x | 0.66x |
01 Dec 2025 (Day 1) | 0.41x | 0.97x | 0.43x |
Invicta Diagnostic FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 16.9 | 4.1 | 5.0 | -2.4 | 39.9% |
| FY25 | 30.1 | 4.9 | 6.6 | 6.2 | 30.6% |
| FY24 | 15.8 | 3.8 | 6.4 | 13.9 | 44.8% |
Invicta Diagnostic IPO SUBSCRIPTION STATUS DETAILS
Invicta Diagnostic had 3.3 M shares on offer
Invicta Diagnostic IPO offer price was in the range ₹80 - ₹85
Invicta Diagnostic IPO minimum Investment was ₹256000
Invicta Diagnostic IPO issue size was ₹ 264.7 M - ₹ 281.2 M
Invicta Diagnostic had a minimum lot size of 1600 Shares per application
Invicta Diagnostic NUMBER OF SHARES ON OFFER
Total3.3 M
Fresh Issue3.3 M
Offer for Sale0
Post Issue Promoter Holding %66.7 %
Invicta Diagnostic IPO IMPORTANT DATES
| Issue Open Date | 01 Dec 2025 |
| Issue close Date | 03 Dec 2025 |
| Allotment Date | 04 Dec 2025 |
| Refund Date | 05 Dec 2025 |
| Demat Account Credit Date | 05 Dec 2025 |
| Listing Date | 08 Dec 2025 |
| Listing on Exchange(s) | NSE |
| Invicta Diagnostic Allotment Status | Exchange/ Registrar |
Invicta Diagnostic IPO subscription opened on 01 Dec 2025, and closed on 03 Dec 2025
IPO allotment for Invicta Diagnostic was finalized on Thursday, 04 Dec 2025
IPO listing for Invicta Diagnostic was on NSE on Monday, 08 Dec 2025
Invicta Diagnostic IPO LISTING GAINS
| Issue Price (adjusted) | 85.0 |
| Listing Open Price | 100.0 |
| Listing Close Price | 96.7 |
| Listing Gain% | 17.6% |
| Current Gain% | -20.6% |
Invicta Diagnostic Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invicta Diagnostic Ltd. | 67.5 | 84.9 | 17.3 | 3.2 | 2.6 | 9.8 | 8.1 | 33 | 7.8 | 4.9 | 5.4 | 3.9 | 5.4 |
| Dr. Lal Pathlabs Ltd. | 1987 | 33351.6 | 61.5 | 11 | 11.5 | 20.1 | 16 | 2864.2 | 12.1 | 504.8 | 3.6 | 32.3 | 5.6 |
| Inventurus Knowledge Solutions Ltd. | 1747.5 | 29982.4 | 39.3 | 1 | 9 | 25.8 | 16.9 | 3209.5 | 18.7 | 721.6 | 48.4 | 44.5 | 40.9 |
| Sagility Ltd. | 42.6 | 19933.1 | 20.1 | 0.4 | 2.6 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| Molbio Diagnostics Ltd. | 1308.9 | 15083.8 | 14.2 | 7.8 | 1455.2 | 41.6 | 166.6 | 14.8 | |||||
| Vijaya Diagnostic Centre Ltd. | 1437.7 | 14808 | 79 | 3.2 | 17.3 | 18.1 | 11.5 | 835 | 19.3 | 173 | 20.9 | 18.2 | 24.9 |
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Invicta Diagnostic annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | CAGR 3 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 | Mar '22 |
|---|---|---|---|---|---|---|---|
45.8% | 21.4 | 17.7 | 4.9 | 6.9 | 3.1 | ||
Operating Exp. Ann. | 35.2% | 12.6 | 9.9 | 2 | 5.1 | 2.6 | |
Operating Profit Ann. | 65.5% | 7.7 | 6.4 | 1.9 | 1.7 | 0.3 | |
OPM Ann. % | 12.9% | 35.73% | 35.82% | 37.86% | 24.80% | 8.65% | |
29.8% | 14.2 | 10.9 | 2.4 | 6.5 | 4.1 | ||
EBITDA Ann. | 73% | 8.8 | 7.8 | 3 | 1.7 | 0.5 | |
EBITDA Ann. margin % | 18% | 41.02% | 44.08% | 60.33% | 24.96% | 15.61% | |
Interest Ann. | - | 0 | 0 | 0 | 0 | ||
Depr. | 2.3% | 1.5 | 1 | 0.4 | 1.4 | 1.5 | |
PBT Ann. | 189.8% | 7.3 | 6.9 | 2.6 | 0.3 | -1 | |
Tax Ann. | 157.1% | 1.7 | 1.5 | 0.4 | 0.1 | -0.3 | |
201.8% | 5.5 | 5.4 | 2.2 | 0.2 | -0.8 | ||
Net Profit Ann. | 201.8% | 5.5 | 5.4 | 2.2 | 0.2 | -0.8 | |
NPM Ann. % | 99.2% | 27.26% | 33.08% | 57.74% | 3.45% | -25.84% | |
EPS Adj. latest Ann. | 180.2% | 4.4 | 4.3 | 1.8 | 0.2 | -0.6 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
20.9%
2Y CAGR
109%
3Y CAGR
45.8%
Net Profit Ann.
1Y CHG
1.9%
2Y CAGR
58.1%
3Y CAGR
201.8%
Operating Exp. Ann.
1Y CHG
27.3%
2Y CAGR
151%
3Y CAGR
35.2%
Invicta Diagnostic INFORMATION ON IPO ISSUE
About Invicta Diagnostic
Invicta Diagnostic was incorporated on January 22, 2021. The company is a diagnostic chain in the Mumbai Metropolitan Region offering radiology and pathology services under the “PC Diagnostics” brand. It operates 7 diagnostic centres and 1 central laboratory, providing imaging, pathology, and teleradiology solutions
Object of the Issue
- Funding capital expenditure for the purchase of medical equipment towards the establishment of five new diagnostic centres in Maharashtra
- General corporate purposes
Invicta Diagnostic Strengths
One-stop solution at affordable prices
The company provides a comprehensive one-stop diagnostic solution at affordable prices, offering advanced tests and imaging services under a single roof. This model enhances patient convenience, reduces costs, improves care coordination, and gives the company a strong competitive advantage in the healthcare market
Strength
Technical capability
The company’s strong technical capabilities and adoption of advanced diagnostic technologies enable it to deliver high-quality and reliable services. With a fleet of modern radiology equipment, including 4 CT scanners (16–32 slice), 4 imported 1.5 Tesla MRI machines, one state-of-the-art PET CT scanner, and 3D-capable ultrasound systems supported by a team of 20 radiologists, the company maintains long-term diagnostic efficiency and stays ahead in clinical imaging advancements
Strength
Implementation of hub & spoke model
The company operates a hub-and-spoke model across MMR, collecting specimens from multiple spoke centres located within 2–3 km of each hub and routing them to central facilities for testing. This integrated setup enhances efficiency, delivers consistent results, and offers patients convenient access to both basic and advanced diagnostic services while optimising resource utilisation and strengthening patient flow to hub centres
Strength
Invicta Diagnostic Risks
Competition
Their competitiveness may be affected by rapid technological advancements and innovations in diagnostic testing. In a crowded market with strong established players and new entrants, failing to keep pace with technology or differentiate effectively could lead to loss of market share and profitability
Risk
Quality standards
Failure to meet required quality standards in imaging, testing, and diagnostic services could expose the company to litigation, malpractice claims, and reputational damage. Although no material issues have occurred so far, future errors—such as misreads, sample contamination, or equipment faults—could lead to patient harm and adversely impact operations
Risk
Capital intensive
The company operates a capital-intensive business that requires substantial fixed and working capital, especially for setting up diagnostic centres and equipment. If cash flows are insufficient or borrowing becomes difficult, its ability to meet operational and expansion needs may be adversely affected
Risk
IPO FAQs
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 80.0 - 85.0.
The IPO application opens on Dec 01, 2025 and closes on Dec 03, 2025.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 256,000.0, the maximum value for this IPO is Rs 272,000.0.
This IPO will be allotted on Dec 04, 2025.
The refund will be credited to your account on Dec 05, 2025.
The allotted shares will be credited to your demat on Dec 05, 2025.
Invicta Diagnostic Ltd.’s shares listed on the stock exchanges on Dec 08, 2025.