Vijaya Diagnostic Centre Limited (VIJAYA)

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Vijaya Diagnostic Centre Limited (VIJAYA) · mywealthgrid

About

Vijaya Diagnostic Centre Limited is a healthcare diagnostics services provider with market cap of ₹15,168 Cr and quarterly revenue around ₹200–230 Cr. The company maintains operating margins of 41.38% and ROE of 19.74%, positioning it as a profitable player in the Indian diagnostic services sector.

Face value: ₹1

Market cap

₹14,694 Cr

P/E

78.4×

P/B

15.4×

Dividend yield

0.1%

ROE

19.7%

ROCE

21.3%

Debt / equity

OPM

41.4%

EPS (TTM)

₹18.2

Book value

₹93.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE of 80.9x against ROE of 19.74% implies market pricing earnings growth well above recent profitability; verify visibility and trajectory of earnings expansion
Operating margins at 41.38% are high; test pricing power and cost structure defensibility against inflation and competitive pressure
Quarterly revenue between ₹189–₹230 Cr shows limited growth visibility; verify demand drivers and growth runway
Public shareholding of 4.22% limits float and may constrain liquidity; verify capital-raising flexibility

Generated analysis · source review pending

Growth drivers

Zero debt (D/E = 0) combined with ROE of 19.74% provides balance-sheet capacity to fund expansion capex; verify capex roadmap
Operating margin of 41.38% sustained across quarters means incremental revenue scales to profit at high rate; verify quarterly revenue growth trajectory
Consistent quarterly EPS of ₹4.15–₹5.17 with OPM of 40–44% indicates room for earnings expansion if revenue grows beyond current ₹189–₹230 Cr band; verify demand drivers
Annual dividends paid since 2022 signal cash generation; verify payout ratio to assess retained-earnings capacity for growth investment

Generated analysis · source review pending

1,245 historical price candles were omitted because the exchange source has not been verified.

₹1,428.0-3.2%1Y

Quick read

rule-based

Pros

+Strong return on equity of 19.7% (3-yr avg)
+High return on capital employed of 21.7%
+Healthy operating margin of 41.4%
+Profit CAGR of 15.2% over the last 5 years
+Revenue CAGR of 16.7% over the last 5 years
+Almost debt-free (debt/equity 0)

Cons

−Expensive at 78.4× trailing earnings
−Trading at 15.4× book value
−Low dividend payout of 11% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

55/100

Business quality: 73
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	377	462	459	548	681	814
COGS	57	72	59	65	85	95
Gross profit	320	391	400	482	597	720
	154	187	218	261	323	383
	166	204	182	221	273	337
OPM %	44.1%	44.1%	39.6%	40.3%	40.1%	41.4%
Depreciation	50	53	62	57	71	92
Interest	15	16	21	24	27	33
	12	13	14	19	17	21
Profit before tax	112	147	114	159	193	233
Tax	27	37	28	39	49	60
Tax %	24.1%	24.9%	24.9%	24.6%	25.6%	25.7%
	85	111	85	120	144	173
PAT margin %	22.6%	23.9%	18.6%	21.8%	21.1%	21.3%
EPS (₹)	8.3	10.8	8.3	11.6	14	16.8
EPS adjusted (₹)	18.8	10.8	8.3	11.6	14	16.8
	0%	9.3%	12.1%	8.6%	14.3%	11.9%
Annual report	—	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	5	5	10	10	10	10	10
Reserves	—	354	458	535	647	785	947
Minority interest	—	0	1	2	3	3	—
	—	4	1	0	0	0	0
	—	178	243	307	323	474	550
Total equity & liabilities	—	541	713	853	983	1,274	1,507
	141	142	203	302	742	865	1,069
CWIP	—	134	201	249	8	70	34
Investments	—	28	54	139	109	185	228
	—	238	255	163	123	154	175
Total assets	—	541	713	853	983	1,274	1,507

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	84.8%	84.5%	87.2%	88.1%	87.6%	88.4%
EBITDA margin %	44.1%	44.1%	39.6%	40.3%	40.1%	41.4%
EBIT margin %	30.7%	32.7%	26.2%	29.9%	29.7%	30.1%
PAT margin %	22.6%	23.9%	18.6%	21.8%	21.1%	21.3%
Working capital
Receivable days	6	8	8	11	8	9
Inventory days	17	22	13	29	21	19
Payable days	142	110	172	184	143	145
NWC days	-118	-81	-152	-144	-114	-117
Leverage
Current ratio	5.4	4.08	4.17	2.9	1.89	2.6
Debt to EBITDA	0.03	0	0	0	0	0
Debt to equity	0.01	0	0	0	0	0
Interest coverage	8.4	10	6.4	7.7	8.3	8
Asset turnover	0.7	0.65	0.54	0.56	0.54	0.54
Return ratios
Return on assets %	15.7%	15.5%	10%	12.2%	11.3%	11.5%
Return on capital employed %	25.6%	28.6%	18.7%	21.8%	21.9%	21.3%
Return on equity %	23.7%	23.6%	15.6%	18.2%	18.1%	18.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.9%	54.87%	54.06%	53.93%	53.91%	53.91%	53.05%	52.63%	52.6%	52.6%	52.51%	52.51%
	20.68%	19.95%	20.09%	20.08%	18.14%	17.54%	19.36%	19.56%	18.27%	15.1%	13.38%	11.66%
	18.64%	19.83%	20.8%	21.49%	23.46%	24.63%	23.72%	24.07%	25.34%	28.59%	29.93%	31.61%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	5.78%	5.35%	5.05%	4.5%	4.49%	3.92%	3.87%	3.74%	3.79%	3.71%	4.18%	4.22%
No. of shareholders	—	—	—	—	—	—	—	—	58,994	57,784	62,946	67,251

Promoter holding down 2.39 percentage points since Sep 2023.

40 deals · 14 Oct 2021 – 8 Apr 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
8 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	11,70,344	₹983.69	₹115.13 Cr
8 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	11,70,344	₹983.51	₹115.10 Cr
4 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	11,80,400	₹1,029.06	₹121.47 Cr
4 Mar 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	11,80,400	₹1,029.53	₹121.53 Cr
4 Mar 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	8,14,594	₹1,019.30	₹83.03 Cr
4 Mar 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	7,69,580	₹1,020.52	₹78.54 Cr
4 Mar 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	5,23,967	₹1,024.35	₹53.67 Cr
4 Mar 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	5,23,967	₹1,023.88	₹53.65 Cr
27 Feb 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	5,98,243	₹977.10	₹58.45 Cr
27 Feb 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	5,98,243	₹975.72	₹58.37 Cr

1–10 of 40

1 / 4

Mr. Sura Surendranath ReddyExecutive Director-Chairperson
Mr. Sunil Chandra KondapallyExecutive Director
Mrs. Sura Geeta ReddyNon-Executive - Non Independent Director
Ms. Sura Suprita ReddyExecutive Director-CEO-MD
Ms. Manjula AnaganiNon-Executive - Independent Director
Mr. Ravi ShankararamiahNon-Executive - Independent Director
Mrs. Sasikala Paruchuri KolaNon-Executive - Nominee Director
Mr. Satyanaryana Murthy ChavaliNon-Executive - Independent Director
Mr. Dipinder Singh SekhonNon-Executive - Independent Director
Mr. Narasimha Raju K. A.Chief Financial Officer
Ms. Naga Vasudha TadepalliCompany Secretary & Compliance Officer

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 12 fund houses

Held by these funds

19.85%

of the company's equity

All mutual funds

30.66%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

52 schemes · 12 fund houses

		Shares
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	54.55 L	828.24	4.21%	5.301%	-0
Multi Cap FundNEW	Nippon India Mutual Fund	29.14 L	442.41	0.79%	2.832%	—
Small Cap Fund	Axis Mutual Fund	20.62 L	313.03	1%	2.003%	-0
PHARMA FUND	Nippon India Mutual Fund	16.72 L	253.82	2.68%	1.625%	-0
Flexi Cap FundNEW	ICICI Prudential Mutual Fund	12.9 L	195.82	0.76%	1.253%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	12.37 L	187.84	2.3%	1.202%	-98,001
Innovation Fund	ICICI Prudential Mutual Fund	9.87 L	149.91	1.87%	0.959%	-70,294
Portfolio of Kotak Business Cycle Fund	Kotak Mahindra Mutual Fund	7.38 L	112.02	3.19%	0.717%	-0

1–8 of 52

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

5

Final dividend16 Sept 2026 · ex-date₹2
Final dividend29 Aug 2025 · ex-date₹2
Final dividend30 Aug 2024 · ex-date₹1
Dividend dividend13 Sept 2023 · ex-date₹1
Final dividend20 Sept 2022 · ex-date₹1

1

Board meeting to consider results6 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

6 announcementsExport CSV

28 Sept 2026, 4:50 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	84.8%	84.5%	87.2%	88.1%	87.6%	88.4%
EBITDA margin %	44.1%	44.1%	39.6%	40.3%	40.1%	41.4%
EBIT margin %	30.7%	32.7%	26.2%	29.9%	29.7%	30.1%
PAT margin %	22.6%	23.9%	18.6%	21.8%	21.1%	21.3%
Working capital
Receivable days	6	8	8	11	8	9
Inventory days	17	22	13	29	21	19
Payable days	142	110	172	184	143	145
NWC days	-118	-81	-152	-144	-114	-117
Leverage
Current ratio	5.4	4.08	4.17	2.9	1.89	2.6
Debt to EBITDA	0.03	0	0	0	0	0
Debt to equity	0.01	0	0	0	0	0
Interest coverage	8.4	10	6.4	7.7	8.3	8
Asset turnover	0.7	0.65	0.54	0.56	0.54	0.54
Return ratios
Return on assets %	15.7%	15.5%	10%	12.2%	11.3%	11.5%
Return on capital employed %	25.6%	28.6%	18.7%	21.8%	21.9%	21.3%
Return on equity %	23.7%	23.6%	15.6%	18.2%	18.1%	18.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Dr. Lal Path Labs Ltd.LALPATHLABLALPATHLAB	₹33,605 Cr	₹33,605 Cr	₹2,891 Cr	₹838 Cr	28.3%	₹542 Cr	18.5%	28.8%	21.6%	-79
Vijaya Diagnostic Centre LimitedVIJAYAVIJAYA	₹14,694 Cr	₹14,694 Cr	₹857 Cr	₹362 Cr	41.4%	₹187 Cr	21.3%	21.3%	19.7%	-117
Metropolis Healthcare LimitedMETROPOLISMETROPOLIS	₹11,151 Cr	₹11,169 Cr	₹1,710 Cr	₹422 Cr	24.4%	₹202 Cr	11.6%	17.3%	13.4%	-57
Thyrocare Technologies LimitedTHYROCARETHYROCARE	₹8,495 Cr	₹8,495 Cr	₹876 Cr	₹282 Cr	31.6%	₹176 Cr	19.6%	36.5%	28.8%	4
Nephrocare Health Services LimitedNEPHROPLUSNEPHROPLUS	₹6,509 Cr	₹6,589 Cr	₹999 Cr	₹227 Cr	22.7%	₹77 Cr	7.7%	17.1%	9.1%	-61
Suraksha Diagnostic LimitedSURAKSHASURAKSHA	₹1,824 Cr	₹1,826 Cr	₹325 Cr	₹102 Cr	30.7%	₹36 Cr	10.1%	16.8%	14.1%	-101
Krsnaa Diagnostics LimitedKRSNAAKRSNAA	₹1,798 Cr	₹2,332 Cr	₹815 Cr	₹218 Cr	27.4%	₹97 Cr	13.1%	13.1%	10.9%	65
3b Blackbio Dx Limited3BBLACKBIO3BBLACKBIO	₹1,416 Cr	₹1,417 Cr	₹96 Cr	₹50 Cr	52%	₹163 Cr	49.4%	25.3%	19.4%	235
One Global Service Provider LtdONEGLOBALONEGLOBAL	₹1,025 Cr	₹1,025 Cr	₹6 Cr	₹1 Cr	22.2%	₹1 Cr	17.3%	17.6%	19.5%	—
Health X Platform LimitedHEALTHXHEALTHX	₹868 Cr	₹890 Cr	₹1,468 Cr	₹-67 Cr	-4%	₹-20 Cr	-0.1%	—	0.2%	—
Gaudium Ivf And Women Health LimitedGAUDIUMIVFGAUDIUMIVF	₹797 Cr	₹820 Cr	₹104 Cr	₹38 Cr	36.1%	₹24 Cr	23.4%	23.1%	16.1%	92
Aspira Pathlab & Diagnostics LtdASPIRAASPIRA	₹135 Cr	₹136 Cr	₹22 Cr	₹4 Cr	16%	₹2 Cr	9.2%	17.5%	18.1%	16

Date	Category	Subject	Filing
28 Sept 2026, 4:50 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
11 Sept 2026, 9:01 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
11 Sept 2026, 8:40 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
11 Sept 2026, 7:46 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of The Board Meeting - Acquisition	PDF
2 Sept 2026, 6:56 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
2 Sept 2026, 5:49 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	130	158	165	183	224	271
	-130	-123	-110	-142	-182	-174
	-49	-31	-42	-45	-52	-69
Net cash flow	-49	4	13	-4	-9	27
Free cash flow	98	36	40	95	129	88
CFO / Operating profit %	78.1%	77.6%	90.4%	83%	82.2%	80.3%

Vijaya Diagnostic Centre Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

5

1

Announcements

Not in the F&O segment

5

1

Announcements

Annual reports

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Vijaya Diagnostic Centre Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends5

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Dividends5

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

5

1

5

1