Conference Call with Vijaya Diagnostic Centre Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Healthcare services company Vijaya Diagnostic Centre announced Q3FY23 results: Q3FY23: Revenue from operations increased by 2.1% YoY to Rs. 1,131 million, non-covid revenues grew by 9.8% YoY During Q3FY23, the non-covid business comprised 99% of the total revenue share as against 92% revenue share in Q3FY22 Wellness share in Q3FY23 was up at 12.9% as against 8.5% in Q3FY22 Revenue composition from B2C segment stood at 95% EBITDA stood at Rs. 443 million. EBITDA margin for the quarter was 39.1% Healthy non-covid revenue coupled with operating leverage assisted margin performance despite costs on account of new centres PAT stood at Rs 164 million, translating into a PAT margin of 14.5% 9MFY23: Revenue from operations decreased by 2.3% YoY to Rs 3,382 million, non-covid revenues grew by 12.2% YoY Wellness share in 9MFY23 was up at 11.7% as against 6.3% in 9MFY22 Revenue composition from B2C segment continued to stay strong at 95% EBITDA stood at Rs 1,329 million. EBITDA margin was 39.3% PAT stood at Rs 571 million, translating into a PAT margin of 16.9% Commenting on the performance, Suprita Reddy, CEO, said, “We are pleased to report steady performance during a seasonally soft quarter for the industry. The volume trends that were slow in the months of October and November, saw a significant improvement in December and we hope to carry this momentum into the upcoming quarter. Our ongoing efforts to expand the network through the addition of new hubs and spokes has been progressing well. During this quarter, we opened 5 centres, including a one-of-its-kind facility at Punjagutta. Our newly opened state-of-the-art facilities in Punjagutta and Rajahmundry have received an overwhelmingly positive response from our customers. Additionally, our efforts to improve digital operations are proceeding smoothly, and we anticipate that these initiatives will considerably improve operational efficiency and enhance the customer experience across all of our centres. Looking ahead, the outlook for the diagnostics industry remains positive, with increasing demand for advanced medical services and a growing emphasis on preventive healthcare. We remain confident that our integrated diagnostics offerings, well-established brand and our robust B2C network will enable us to capitalize on the huge market opportunity." Result PDF
Healthcare service Vijaya Diagnostic Centre announced Q2FY23 results: Q2FY23 vs Q2FY22: Revenue from operations increased 7.1% YoY to Rs 1,207 million; non-Covid revenues grew by 15.1% YoY During Q2FY23, the company witnessed MoM improvement in businesses across all segments that assisted revenue performance and registered QoQ growth of 15.7% Wellness share in Q2FY23 was up at 12.4%, as against 6.7% in Q2FY22 Revenue composition from the B2C segment stood at 95% EBITDA stood at Rs 487 million. EBITDA margin for the quarter was 40.4% PAT stood at Rs 233 million, translating into a PAT margin of 19.3% H1FY23 vs H1FY22: Revenue from operations decreased by 4.4% YoY to Rs 2,251 million; non-Covid revenues grew by 13.4% YoY Wellness share in H1FY23 was up at 11.1% as against 5.3% in H1FY22 Revenue composition from the B2C segment continued to stay strong at 95% EBITDA stood at Rs 886 million; EBITDA margin for the quarter was 39.4% PAT stood at Rs 408 million, translating into a PAT margin of 18.1% Suprita Reddy, CEO, said, “We have delivered an encouraging performance in Q2FY23 with our revenues increasing by 15.7% and EBITDA increasing 22.2% QoQ. Despite considerably expanding our centres, our teams have made dedicated efforts to drive efficiencies leading to industry-leading EBITDA margins of 40.4% during the quarter. We recently operationalised one of our largest 16,000 sqft state-of-the-art Punjagutta centre in Hyderabad. Along with the commissioning of major hubs in the past few months, we have made healthy progress on expanding our mid- and small-sized spokes in our focused markets during the quarter. Furthermore, various steps to enhance the overall digitisation aspect in our operations are progressing well and we expect these digital initiatives to considerably enhance the overall operational efficiency at all our centres. The key pillars of our business are integrated diagnostic services, substantial presence in high-margin B2C business, and strong brand salience. This coupled with our other inherent strengths should assist the company to deliver sustainable growth, going forward.” Result PDF
Healthcare Services firm Vijaya Diagnostic Centre announced Q1FY23 Result : Non-COVID Revenues grew by 12% YoY to Rs. 1,012 Mn Q1FY23 Radiology share stood higher at 36% as against 32% in Q1FY22 Wellness share in Q1FY23 up at 9.6% as against 4.0% in Q1FY22 Successfully establishes its 100th Diagnostic Centre Revenue from Operations decreased by 14.9% YoY to Rs. 1,044 Mn, Non-COVID Revenues grew by 12% YoY Decline in revenue largely on account of decrease in COVID business. Q1FY23 witnessed a transition in the revenue mix profile from COVID to Non-COVID. This resulted in the Non-COVID business revenues registering a growth of 12% YoY and COVID revenues declining by 90% YoY Radiology business stood higher at 36% as against 32% in Q1FY22 – positively contributing to the Company’s non-covid business Wellness share in Q1FY23 was up at 9.6% as against 4.0% in Q1FY22 Witnessed positive business momentum in Wellness segment – achieving Pre COVID levels Revenue composition from B2C segment continued to stay strong at 95.0% EBITDA stood at Rs. 398.9 Mn. EBITDA margin for the quarter was 38.2% Lower revenues and incremental expenses for upcoming facilities impacted margin performance As new facilities start contributing to performance, the Company anticipates improvement in operating margins PAT stood at Rs. 175 Mn. translating into a PAT margin of 16.7% Commenting on the performance Ms. Suprita Reddy, CEO said, “I am pleased to share that we have commenced the fiscal on a positive note. During Q1FY23, Vijaya was able to capitalize on the healthy recovery in demand from its customers for non-covid, radiology and wellness businesses. A notable month-on-month improvement across our key business parameters was witnessed during this period and we expect this trend to continue in the upcoming quarters as well. Vijaya has achieved an important milestone of successfully establishing its 100th centre by opening five new centres during Q1FY23. The Company remains excited for its upcoming 10,000 sq.ft facility at Rajahmundry which is expected to be inaugurated soon. Additionally, we made considerable progress on our upcoming 16,000 sq.ft. Punjagutta centre which is scheduled to be launched in the coming months. We remain excited about these state-of-the-art facilities that are well equipped with advanced radiology and will offer a wide range of integrated diagnostics services to our consumers. Overall, our expansion and other growth initiatives are progressing as per plan. Our endeavor remains on strengthening our leadership position in key markets as we move into the pre-pandemic environment. Looking ahead, we believe that our integrated diagnostics offerings, B2C business model, robust financial position, and strong brand salience in our core markets, should assist us to withstand any near-term challenges. Additionally, we are confident that these inherent strengths would go a long way in creating sustainable value for all our stakeholders.” Result PDF
Conference Call with Vijaya Diagnostic Centre Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Vijaya Diagnostic Centre declares Q4FY22 result: Vijaya Diagnostic Centre Limited posts strong performance with 23% growth in Revenues and 30% growth in PAT for FY22 Revenue from Operations increased by 4% YoY to Rs. 1,162 Mn COVID & COVID allied revenue (RT-PCR, Antibody tests and COVID allied tests like IL-6 and DDimer) increased 54% YoY to Rs. 179 Mn due to COVID third wave, which impacted Non-COVID business. Non-COVID revenue declined marginally by 2% YoY to Rs. 983 Mn EBITDA stood at Rs. 479 Mn and EBITDA margin for the quarter was 41.2% PAT stood at Rs. 237 Mn and PAT margin for the quarter was 20.4% Commenting on the performance Ms. Suprita Reddy, CEO said, “I am happy to say that the company has been able to battle headwinds caused by multiple covid waves and was able to sustain business performance this year. The last financial year was one of great achievements for the company, marked by fulfilment of many crucial milestones – Opening up of 15 centres, which is by far the maximum number of centres we opened in a single year, serviced over 3.6 Mn customers, achieving an EBIDTA of over Rs. 200 crore and a PAT of over Rs. 100 Crore. Though the last quarter was challenging due to the onslaught of the third covid wave which significantly impacted our non-covid business from the beginning of the January till the first half of February, we moved forward with positivity and confidence to expand our footprint by 6 new and fully equipped centres. Vijaya has risen to stand out as the largest and most trusted provider of integrated diagnostic services, offering the whole gamut of high quality pathology and radiology all under one roof. We have always been particular about adopting the latest and the most advanced medical technology, procuring sophisticated equipment and building a brand of trust for our customers. Our business was always driven by a B2C strategy, way ahead of our competitors in the diagnostic space. With these being our inherent strengths, we are convinced that we will be able to successfully withstand the test of time and emerge as a brand of choice for our customers.” Result PDF
Conference Call with Vijaya Diagnostic Centre Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.