Vijaya Diagnostic Centre logo

Vijaya Diagnostic Centre

VIJAYA NSE

Key Fundamentals

SmallcapHealthcare Service ProviderHealthcare Services
Market Cap
₹15,397 Cr
Volatility
Moderate
P/E Ratio
82.39
EBITDA
₹358 Cr
Return on Equity
18.07%
Debt to Equity
0.44
Book Value
₹92.93
EPS
₹12.23
52W High
₹1,578
52W Low
₹848

Tapetide Score

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Key Insights

Weaknesses

1
  • Stock is trading at 16.2 times its book value

Growth Rate

Revenue Growth
19.34% lower than 3Y
Net Income Growth
20.31% lower than 3Y
Cash Flow Change
20.55% lower than 3Y
ROE
0.44% lower than 3Y
ROCE
-2.88% higher than 3Y
EBITDA Margin (Avg.)
2.81% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Vijaya Diagnostic Centre Ltd commands a market cap of ₹15,397 Cr at a PE of 82.3x with consistent revenue growth of 21% CAGR over 3 years and profit growth of 24% CAGR over the same period. ROE has remained steady at 18% over the last year and 3-year average, while the stock has appreciated 43% in the last 1 year and 46% CAGR over 3 years.

Bull Case 7
  • Strong revenue growth with TTM sales growth at 20% and 3-year compounded sales CAGR of 21%, indicating sustained demand for diagnostic services
  • Profit growth outpacing revenue growth — compounded profit CAGR of 24% over 3 years vs sales CAGR of 21%, suggesting improving operating leverage and margins
  • Consistent return on equity at 18% over both 1-year and 3-year periods, reflecting stable capital efficiency
  • 5-year compounded sales CAGR of 17% demonstrates the company's ability to grow through different market cycles including the post-COVID normalization period
  • TTM profit growth of 24% shows the business continues to deliver accelerating earnings even on a larger base
  • Stock price CAGR of 46% over 3 years reflects strong market confidence in the company's growth trajectory and execution
  • Operating in the structurally growing Indian healthcare diagnostics sector, which benefits from rising health awareness, increasing insurance penetration, and an aging population
Bear Case 7
  • PE ratio of 82.3x is extremely elevated, pricing in significant future growth and leaving little room for execution missteps
  • Stock is trading at 16.1x book value, well above typical benchmarks for healthcare services companies, indicating a rich valuation
  • Dividend yield of just 0.13% suggests minimal cash return to shareholders relative to the stock price
  • 5-year compounded profit CAGR of 14% is notably lower than the recent 3-year CAGR of 24%, raising questions about whether the recent acceleration is sustainable or partly COVID-driven
  • At 82.3x PE, even maintaining 24% profit growth would take several years to bring the valuation to reasonable levels — any slowdown could trigger sharp de-rating
  • Stock price appreciation of 43% in 1 year has significantly outpaced the TTM profit growth of 24%, suggesting multiple expansion rather than purely earnings-driven gains
  • The diagnostics sector faces increasing competition from national chains and aggregator platforms, which could pressure pricing and margins going forward

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 2
  • Company Secretary resigns Aug 26

    Naga Vasudha Tadepalli resigned as Company Secretary effective Aug 26, citing personal reasons. While not operationally critical, it adds to recent leadership churn.

  • Independent Director tenure ends Aug 21

    Dr. Manjula Anagani ceased to be Independent Director after completing her five-year tenure on Aug 21, 2026. Board governance continuity needs monitoring.

Positives 3
  • Assam acquisition expands footprint Sep 11

    Vijaya acquired Arya Wellness Centre in Guwahati for ₹46.20 crore via slump sale, marking entry into North-East India. Target did ~₹26 crore revenue in FY26 with ₹5.6 crore IND AS EBITDA and over 85% B2C revenue mix.

  • New CIO appointed Sep 2

    Dr. Venkata Naresh Yallapragada appointed as CIO effective Sep 2, 2026, bringing 23+ years of healthcare IT and clinical practice experience to drive technology strategy.

  • ₹2 per share FY26 dividend Aug 26

    Board recommended a final dividend of ₹2 per share for FY26 with record date Sep 16 and AGM on Sep 24, 2026. Agenda also includes ESOP pool expansion.

Neutral 4
  • Investor meet in Bengaluru Sep 2

    Vijaya Diagnostic hosted an institutional investor meeting on Sep 10, 2026, arranged by Emkay Global in Bengaluru covering publicly available information.

  • AGM scheduled for Sep 24 Aug 26

    24th AGM set for Sep 24, 2026 via video conferencing. E-voting window runs Sep 21-23 with key agenda items including dividend approval and ESOP expansion.

  • FY26 annual report released Aug 26

    Vijaya Diagnostic released its FY26 annual report alongside the AGM notice on Aug 26, 2026.

  • Dividend record date Sep 16 Aug 19

    Sep 16, 2026 fixed as record date for FY26 final dividend eligibility ahead of the Sep 24 AGM.

TL;DR: Vijaya Diagnostic is in expansion mode, entering North-East India via a ₹46.20 crore Assam acquisition with a healthy B2C-heavy revenue profile. Leadership moves are mixed — a strong CIO hire offsets CS and independent director departures. The ₹2 dividend and ESOP expansion signal shareholder-friendly intent. Continued geographic expansion and successful integration of the Arya Wellness acquisition will be key catalysts to watch.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
121
139
133
155
156
183
169
173
188
202
205
219
231
Expenses
73
82
80
92
95
107
102
104
115
120
119
124
132
Operating Profit
48
57
52
63
61
76
67
69
74
82
86
96
99
OPM %
40%
41%
39%
41%
39%
42%
40%
40%
39%
41%
42%
44%
43%
Other Income
6
7
3
3
4
5
5
5
7
6
5
2
9
Interest
6
6
6
6
6
6
7
7
7
8
9
9
11
Depreciation
12
14
15
16
17
17
18
19
21
22
24
24
25
PBT
35
45
35
44
42
57
47
47
52
58
58
64
71
Tax %
26%
25%
25%
23%
25%
26%
24%
26%
26%
25%
26%
25%
25%
Net Profit
26
34
26
34
32
42
35
35
39
43
43
48
53
EPS in Rs
2.57
3.26
2.53
3.27
3.06
4.1
3.43
3.4
3.76
4.21
4.2
4.66
5.16
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
251
293
339
377
462
459
548
681
814
857
Expenses
171
184
206
211
259
277
327
408
477
495
Operating Profit
80
108
133
166
204
182
221
273
337
362
OPM %
32%
37%
39%
44%
44%
40%
40%
40%
41%
42%
Other Income
7
10
15
12
13
14
19
17
21
22
Interest
5
14
15
15
16
21
24
27
33
37
Depreciation
26
40
49
50
53
62
57
71
92
96
PBT
55
65
83
112
147
114
159
193
233
251
Tax %
37%
29%
25%
24%
25%
25%
25%
26%
26%
—
Net Profit
35
46
63
85
111
85
120
144
173
187
EPS in Rs
77.44
101
138
18.64
10.76
8.29
11.61
14.01
16.81
18.23
Div. Payout %
0%
0%
0%
0%
9%
12%
9%
14%
12%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
5
5
5
5
10
10
10
10
10
Reserves
157
203
270
354
458
535
647
789
947
Borrowings
33
146
161
141
183
248
259
320
423
Other Liabilities
39
53
46
41
62
61
66
155
127
Total Liabilities
234
406
482
541
713
853
983
1,274
1,507
Fixed Assets
119
259
272
268
370
524
742
865
1,069
CWIP
3
3
10
9
34
28
9
70
35
Investments
73
69
55
28
54
139
109
185
228
Other Assets
39
76
146
236
255
163
123
154
174
Total Assets
234
406
482
541
713
853
983
1,274
1,507
Figures in ₹ Crores

Cash Flow

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
62
91
106
130
158
165
183
224
271
Investing
-98
-90
-31
-130
-123
-110
-141
-182
-174
Financing
-8
-7
-30
-49
-31
-42
-45
-52
-69
Net Cash Flow
-44
-6
46
-49
4
13
-2
-9
27
Free Cash Flow
32
31
69
98
37
40
99
132
91
CFO/OP
103
101
98
97
97
105
98
97
96
Figures in ₹ Crores

Ratios

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
12
11
9
6
8
8
11
8
9
Inventory Days
24
20
23
17
22
13
29
21
19
Days Payable
176
196
180
142
110
172
184
143
145
Cash Conversion Cycle
-140
-165
-149
-118
-81
-152
-144
-114
-117
Working Capital Days
-41
-51
-49
-26
-34
-36
-29
-48
-37
ROCE %
—
28%
23%
27%
28%
18%
20%
21%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others0.74%Promot.52.51%Public3.49%FIIs11.66%DIIs31.61%As ofJun 2026
1.96% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Vijaya Diagnostic Centre

What does Vijaya Diagnostic Centre Ltd do?
Vijaya Diagnostics Centre limited is a leading diagnostic medicare services provider in Southern India and offers comprehensive services that include nuclear medicine, radiology, laboratory, health check-ups and medical services. The company provides its services across 13 cities through its 81 d...
Where is Vijaya Diagnostic Centre Ltd (VIJAYA) listed?
Vijaya Diagnostic Centre Ltd trades as VIJAYA on the NSE and under code 543350 on the BSE.
Which sector does Vijaya Diagnostic Centre Ltd belong to?
Vijaya Diagnostic Centre Ltd is classified under the Healthcare sector, in the Healthcare Services industry.
What is the market capitalisation of Vijaya Diagnostic Centre Ltd?
Vijaya Diagnostic Centre Ltd has a market capitalisation of ₹15,397 Cr, which places it in the Mid Cap band.
What is the PE ratio of Vijaya Diagnostic Centre Ltd?
Vijaya Diagnostic Centre Ltd trades at a PE ratio of 82.39, on earnings per share of ₹12.23, against a book value of ₹92.93 per share.
What is the 52-week high and low of Vijaya Diagnostic Centre Ltd?
Over the last 52 weeks Vijaya Diagnostic Centre Ltd has traded between ₹848 and ₹1,578.
Does Vijaya Diagnostic Centre Ltd pay dividends?
Vijaya Diagnostic Centre Ltd has a dividend yield of 0.13%.
What is the Return on Equity (ROE) of Vijaya Diagnostic Centre Ltd?
Vijaya Diagnostic Centre Ltd reported a return on equity of 18.07%. Its debt-to-equity ratio is 0.44.

Company Information

Vijaya Diagnostics Centre limited is a leading diagnostic medicare services provider in Southern India and offers comprehensive services that include nuclear medicine, radiology, laboratory, health check-ups and medical services. The company provides its services across 13 cities through its 81 diagnostic centers and 11 reference laboratories.[1]

Website vijayadiagnostic.com
Listed 2021-09-14
Face Value ₹ 1
Issued Size 10,27,24,936

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