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.
Conference Call with Vijaya Diagnostic Centre Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Highlights: H1FY22: Vijaya Diagnostic Centre Limited posts strong performance in H1FY22 with Revenue growth of 43% YoY and PAT growth of 114% YoY Revenue from Operations increased by 43% YoY to Rs. 2,354 Mn Non-COVID revenue grew by 56% YoY from Rs. 1,326 Mn in H1FY21 to Rs. 2,064 Mn in H1FY22 while COVID revenue (RT-PCR & Antibody tests) declined by 10% YoY to Rs. 290 Mn Revenue from B2C segment stood at 93% EBITDA stood at Rs. 1,080 Mn, an increase of 66% over corresponding previous period; EBITDA margin for the first half was 45.9% PAT increased by 114% YoY to Rs. 607 Mn vs. Rs. 283 Mn in the corresponding previous period 5 new diagnostic centres opened during the first half of FY22. The total number of diagnostic centres stands at 85 as on 30° September 2021. Highlights Q2FY22: Revenue from Operations came-in at Rs. 1,127 Mn vs. Rs. 1,131 Mn in Q2FY21 Non-COVID revenue up by 22% YoY to Rs. 1,043 Mn and COVID revenue (RT-PCR & Antibody tests) declined 70% YoY to Rs. 84 Mn EBITDA stood at Rs. 511 Mn vs. Rs. 513 Mn in the corresponding previous quarter. EBITDA margin for the quarter was 45.4% PAT increased by 5% YoY to Rs. 277 Mn Commenting on the performance Ms. Suprita Reddy, CEO said, “We would like to thank the Investors for their great support in making our IPO successful. It has been a long and humble journey to see Vijaya grow as the most trusted and reputed integrated diagnostic chain. Vijaya’s hub and spoke model itself is a unique and tested model creating more meaningful presence & offerings to its customers. Our core value is to provide reliable and accurate diagnostic services to our customers, at affordable prices, in a customer-centric manner. Our approach along with brand’s recognition for quality diagnostic services, results in high brand recall leading to over 90% of revenue from walk-in customers. We continue to deliver superior patient experience by introducing new patient centric, technology-enabled initiatives. In the first half of current fiscal, we have opened 5 new centres to service our customers. Our operating revenue stood at Rs. 2,354 Mn in H1FY22; a growth of 43% YoY and EBITDA at Rs. 1,080 Mn with a growth of 66% YoY. We have seen a strong growth in our non-COVID business during this period. Our strategy is to deepen our presence in core geographies and focus on under-penetrated markets by opening diagnostic centres through owned & franchisee model. We continue our endeavor to service the customers by enhancing laboratory capacity and tests by adding latest technologies. For this we continuously invest in technology, manpower and centre expansions which helps us accelerate our growth further in the coming years.” Result PDF