Healthcare Services company Krsnaa Diagnostics announced Q1FY25 results: Financial Highlights: Revenue from Operations: Rs 1,702 million in Q1FY25, a 22% increase compared to Rs 1,396 million in Q1FY24 and a 2% increase from Rs 1,663 million in Q4FY24. Other Income: Rs 73 million in Q1FY25, showing a 43% increase compared to Rs 42 million in Q1FY24. Total Income: Rs 1,775 million in Q1FY25, a 23% increase from Rs 1,438 million in Q1FY24 and a 4% increase from Rs 1,706 million in Q4FY24. EBITDA: Rs 442 million in Q1FY25, a 39% increase from Rs 319 million in Q1FY24, and virtually unchanged from Rs 445 million in Q4FY24. EBITDA Margin: 26% in Q1FY25, up from 23% in Q1FY24 but down from 27% in Q4FY24. EBIT: Rs 285 million in Q1FY25, a 44% increase compared to Rs 199 million in Q1FY24, and a 4% decrease from Rs 299 million in Q4FY24. EBIT Margin: 16% in Q1FY25, improved from 14% in Q1FY24 but down from 18% in Q4FY24. Profit After Tax (PAT): Rs 179 million in Q1FY25, representing a 24% increase from Rs 146 million in Q1FY24 and a 4% decrease from Rs 187 million in Q4FY24. PAT Margin: 11% in Q1FY25, consistent with the margin in Q1FY24 and Q4FY24. Reported Diluted EPS: Rs 5.46 in Q1FY25, compared to Rs 4.52 in Q1FY24 and Rs 5.70 in Q4FY24. Operational Highlights: Krsnaa has bagged the contract for Tele-Radiology from BARC Krsnaa has signed an agreement for 5 MRIs to be installed in 5 districts of Madhya Pradesh Krsnaa has Launched Krsnaa Retail Pvt. Ltd to focus on increasing their retail presence beginning with 5 states i.e. Maharashtra, Punjab, Odisha, Assam & Himachal Pradesh. Krsnaa expanded its presence by establishing 395 new centers across the nation. Commenting on the results, Yash Mutha, Joint Managing Director, said: “Krsnaa's exceptional service offerings, characterized by competitive pricing, have played a pivotal role in driving patient and test counts. We are committed to enhancing the customer experience by offering exceptional healthcare solutions customized to individual needs. Krsnaa has established itself as a prominent player in the PPP sector and is one of the largest in the industry. Given the industry's growth and the next phase for our organization, we believe it is the right time to venture into the retail space. Our strategy is to offer a wide range of services to the general population, starting with states where we already have wellestablished lab and radiology centers through our PPP contracts. This approach will help us increase our margins and shorten our working capital cycle. During the initial quarter of FY2025, Krsnaa accomplished a notable 22% increase compared to the previous year, leading to revenues totalling Rs. 1,702 million. Our EBIDTA reached Rs. 442 million with a 26% margin, and the net profit was Rs. 179 million with an 11% margin. This progress can be credited to our status as the government's preferred partner, heightened recognition of Krsnaa as a brand, maintaining high-quality services, and the successful and punctual execution of our projects. We are also working on various other PAN India tenders, which will be announced once there is more clarity from the respective departments. At the gateway of boundless potential, we are unwavering in our commitment to adjust, create, and thrive. We have developed ambitious strategies to discover chances for progress and development, guaranteeing that we persist in positively influencing lives and contributing to the advancement of the healthcare sector.” Commenting on the Business, Pallavi Bhatevara, Executive Director said: “Our company is well positioned to take advantage of the changes in the diagnostic industry, especially with the government's emphasis on delivering high-quality healthcare to all citizens. The budget for the National Health Mission (NHM) for 2024-25 is set at Rs 38,183 crores, marking a significant rise from the revised allocation of Rs 33,886 crores in 2023-24. Krsnaa diagnostics limited continues to play a major role in providing high-quality and affordable diagnostic services. The provision of high-quality and affordable diagnostic services stands as a fundamental pillar within the healthcare industry. It is with great pleasure that I announce our successful execution of an agreement for the Madhya Pradesh Radiology tender, a significant opportunity that encompasses 5 MRI centre, along with these we have also bagged a contract for Tele-radiology from BARC. These showcase our capabilities and strength to grow in diagnostic industry. Currently, Krsnaa Diagnostics is well-equipped to deploy 28 CT scan machines, 24 MRI machines, establish 153 labs, and set up 2,291 collection centers, all under various contractual agreements. The recent contract wins highlight the exceptional capabilities of our in-house teams. It reflects their proficiency in navigating the intricate bidding process, meeting all necessary requirements, and ultimately securing these contracts. As we begin these projects, Krsnaa Diagnostics is actively expanding its presence into new geographical regions, laying a strong foundation for sustainable, long-term growth.” Result PDF
Healthcare Services company Krsnaa Diagnostics announced FY24 results: Revenue from Operations: Rs 6,196 million, up 27% YoY EBITDA: Rs 1,461 million, representing an 18% YoY growth with a 24% margin Profit After Tax: Rs 568 million Commenting on the business, Yash Mutha, Joint Managing Director, said: “I am pleased to announce the outstanding results for the quarter and financial year 2024 which align with our strategic growth plans. Krsnaa Diagnostics is uniquely positioned to capitalize on the burgeoning growth trends in diagnostics Industry. We are thrilled to announce a historic milestone in India: Krsnaa Diagnostics is the first ever lab operating in a government location to receive the prestigious CAP accreditation, setting a new benchmark for excellence in the industry. The CAP accreditation is a testament to our commitment to quality and excellence in diagnostic services. We have recently secured a significant agreement with the Maharashtra Government for the installation and operation of 17 MRI and 17 CT machines, which is India’s one of the largest MRI tenders and further cements our leadership in the industry. We are excited to welcome Mr. Mitesh Dave as Group CEO, with him at helm we are poised to accelerate our penetration into the B2C market. We are confident that under Mitesh’s leadership, Krsnaa Diagnostics will continue to set new benchmarks in the diagnostics industry, delivering exceptional value to our stakeholders and enhancing our market position.” Commenting on the business, Pallavi Bhatevara, Executive Director, said: “Indian Healthcare ecosystem stands to benefit from structural tailwinds like increased consumer awareness, favorable demographics, rise in lifestyle related diseases, and strong thrust towards infrastructure from the public sector. India’s healthcare expenditure - only 3% of GDP has historically remained suppressed vs. global peers owing to higher ‘out of pocket’ expenses and lower health insurance penetration. Krsnaa Diagnostics continues to play a major role in providing high-quality and affordable diagnostic services. The provision of high-quality and affordable diagnostic services stands as a fundamental pillar within the healthcare industry. At present, Krsnaa Diagnostics is well-positioned to deploy 67 CT Scan machine, 23 MRI machine, establish 162 labs and set up 3,153 collection centers, all under various contractual agreements. These recent contract wins underscore the exceptional capabilities of our in-house teams, reflecting their proficiency in navigating the intricate bidding process, meeting all necessary requirements, and ultimately securing these contracts. As we embark on these projects, Krsnaa Diagnostics is actively expanding its footprint into new geographical regions, establishing a solid foundation for sustainable, long-term growth.” Result PDF
Healthcare Services company Krsnaa Diagnostics announced Q3FY24 & 9MFY24 results: Q3FY24 Financial Highlights: In Q3FY24, the core business generated a revenue of Rs 1,583 million, marking a significant 34% year-on-year growth from Rs 1,180 million in Q3FY23. Revenue from operations for the core business in Q3FY24 stood at Rs 1,583 million, compared to Rs 1,181 million in Q3FY23. Other income in Q3FY24 was Rs 41 million, slightly lower than the Rs 45 million reported in Q3FY23. Total income in Q3FY24 reached Rs 1,624 million, compared to Rs 1,226 million in Q3FY23. EBITDA for the core business in Q3FY24 was Rs 378 million, showing a substantial 27% increase from Rs 298 million in Q3FY23. The EBITDA margin for the core business was 24% in Q3FY24, slightly lower than the 25% reported in Q3FY23. EBIT for the core business in Q3FY24 amounted to Rs 202 million, similar to the Rs 200 million reported in Q3FY23. The EBIT margin for the core business was 13% in Q3FY24, lower than the 17% reported in Q3FY23. Profit after tax (PAT) for the core business in Q3FY24 was Rs 130 million, representing a 5% decrease from Rs 136 million in Q3FY23. The PAT margin for the core business was 8% in Q3FY24, lower than the 12% reported in Q3FY23. The reported diluted earnings per share (EPS) for the core business in Q3FY24 was Rs 3.97, compared to Rs 4.24 in Q3FY23. 9MFY24 Financial Highlights: Core business revenue amounted to Rs 4,533 million, reflecting a robust 28% year-on-year growth from Rs 3,532 million in 9MFY23. Revenue from operations totaled Rs 4,533 million, up from Rs 3,539 million in 9MFY23. Other income amounted to Rs 125 million, down from Rs 135 million in 9MFY23. Total income was Rs 4,658 million, up from Rs 3,674 million in 9MFY23. EBITDA stood at Rs 1,020 million, compared to Rs 891 million in 9MFY23. EBITDA margin was 23%, consistent with the margin in 9MFY23. EBIT totaled Rs 566 million, down from Rs 621 million in 9MFY23. EBIT margin was 12%, consistent with the margin in 9MFY23. PAT amounted to Rs 381 million, down from Rs 432 million in 9MFY23. PAT margin was 8%, down from 12% in 9MFY23. Over the nine months of FY24, the reported diluted EPS was Rs 11.71, down from Rs 13.42 in 9MFY23. Operational Highlights for Q3FY24: Krsnaa has been short-listed to provide 17 MRI and 17 CT scan services in Maharashtra. Krsnaa has been shortlisted to provide MRI services in 5 Districts in Madhya Pradesh. Bagged contract to provide HPLC test at 21 districts in Maharashtra. Krsnaa has operationalized the pathology project in Assam. Krsnaa expanded its presence by establishing 195 new centers across the nation. Commenting on the Business, Pallavi Bhatevara, Managing Director, said: "We are one of the leaders benefiting from the transformation in the diagnostic industry, with the government's focus on providing the best healthcare facilities to all. In the Interim budget, there has been a focus on increasing the number of medical colleges pan India and including ASHA workers and Anganwadi Workers and helpers in the Ayushman Bharat Scheme. These policy measures would bring more people under the fold of public healthcare. Krsnaa Diagnostics Limited continues to play a major role in providing high-quality and affordable diagnostic services. The provision of high-quality and affordable diagnostic services stands as a fundamental pillar within the healthcare industry. It is with great pleasure that I announce our successful execution of an agreement for the Assam Pathology tender, a significant opportunity that encompasses 10 Labs and 1,256 collection centers. This development significantly enhances our presence, covering all districts of Assam. At present, Krsnaa Diagnostics is well-positioned to deploy 54 CT Scan machines, and 24 MRI machines, establish 156 labs, and set up 2,768 collection centers, all under various contractual agreements. These recent contract wins underscore the exceptional capabilities of our in-house teams, reflecting their proficiency in navigating the intricate bidding process, meeting all requirements, and ultimately securing these contracts. As we embark on these projects, Krsnaa Diagnostics is actively expanding its footprint into new geographical regions, establishing a solid foundation for sustainable, long-term growth." Result PDF