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Vijaya Diagnostic Sets Sep 16, 2026 Record Date for ₹2/Share Final Dividend
Vijaya Diagnostic Centre Limited has fixed Wednesday, September 16, 2026, as the record date for determining shareholder eligibility for its final dividend of ₹2 per equity share (face value ₹1, or 200%) for FY 2025-26. The 24th Annual General Meeting (AGM) will be held via video conferencing on Thursday, September 24, 2026. Remote e-voting runs from September 21 to September 23, 2026. If approved at the AGM, the dividend will be disbursed within 30 days of the meeting.
Confidence: HIGH
What changedFormalized the record date (Sep 16, 2026) and AGM date (Sep 24, 2026) for payout of the previously recommended FY26 final dividend of ₹2 per share.
Why it mattersProvides payout certainty and scheduling for shareholders awaiting the ₹2 per share cash distribution from FY26 profits.
Final dividend per share: ₹ 2Face value: ₹ 1Dividend percentage: 200%Record date: 16-Sep-2026AGM date: 24-Sep-2026
📅 Short termShares will trade ex-dividend around mid-September 2026 with price adjusting accordingly on the ex-date.
📈 Long termLimited; reflects standard annual profit distribution and capital return to shareholders.
Key Highlights
Recommended Final Dividend: ₹2 per equity share of face value ₹1 (200%) for FY 2025-26
Record Date & E-voting Cut-off: Wednesday, September 16, 2026
24th AGM scheduled for Thursday, September 24, 2026, at 11:00 AM IST
Remote e-voting window: September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
Payment timeline: Within 30 days from AGM approval
👀 What to Watch
Track the ex-dividend date (likely September 15 or 16, 2026) to ensure eligibility, and look out for AGM voting resolutions on September 24, 2026.
22.8% Revenue Growth in Q1 FY27; Vijaya Plans Rs 195 Cr Capex for 9 New Hubs
Vijaya Diagnostic reported a strong Q1 FY27 with consolidated revenue growing 22.8% YoY to Rs 231 Cr, led by a 16.5% increase in test volumes. EBITDA margins expanded significantly by 360 bps to 42.7%, driven by a high B2C mix (92%) and an integrated radiology-pathology model. The company announced an aggressive expansion plan with a capex of Rs 190-195 Cr (approx. 24% of TTM revenue) to add 9 hubs and 10-12 spokes. Management maintains a long-term growth guidance of 15% CAGR, supported by deepening penetration in Bengaluru and Pune.
Confidence: HIGH
What changedThe company has transitioned from a period of consolidation to aggressive expansion, committing ~24% of its TTM revenue toward new capacity in FY27.
Why it mattersThe integrated 'Pathology + Radiology' model allows for higher realization per patient (Rs 1,860) and superior margins compared to standalone pathology labs. Successful expansion into Bengaluru and Pune will reduce geographic concentration risk.
Q1 FY27 Revenue Growth: 22.8%EBITDA Margin: 42.7%Planned FY27 Capex: Rs 195 CrCapex vs TTM Revenue: 24.3%Cash Balance: Rs 330 CrB2C Revenue Share: 92%
📅 Short termPositive sentiment expected due to strong volume growth and margin expansion that outperformed management's own expectations.
📈 Long termStructural growth is tied to the successful replication of the Hyderabad hub-and-spoke model in Bengaluru and Pune; the high-capex radiology moat remains a key differentiator.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Geographic concentration (67% revenue from Hyderabad)
- Execution risk in new competitive markets
- Gestation period of new hubs potentially impacting short-term margins
Key Highlights
Revenue grew 22.8% YoY to Rs 231 Cr in Q1 FY27, driven by 16.5% volume growth.
EBITDA margins improved to 42.7%, a 360 bps increase YoY, with PAT growing 37.6% to Rs 53 Cr.
Planned capex of Rs 190-195 Cr for FY27 to commission 9 hubs and 10-12 spokes.
Revenue per footfall stood at Rs 1,860, significantly higher than pure pathology peers due to radiology integration.
Strong balance sheet maintained with a surplus cash position of approximately Rs 330 Cr.
👀 What to Watch
Monitor the execution timeline and break-even periods for the 9 new hubs, particularly the flagship Bengaluru facility. Watch if the company can maintain its 40%+ EBITDA margins as it scales outside its core Hyderabad market, which currently contributes 67% of revenue.
22.8% Revenue Growth in Q1 FY27; 9 New Hubs Planned for Next 12 Months
Vijaya Diagnostic reported a strong Q1 FY27 with revenue growing 22.8% YoY to ₹231 Cr and PAT increasing 37.6% to ₹53.1 Cr. The company achieved a robust EBITDA margin of 42.7%, up 356 bps YoY, driven by a 16.5% increase in test volumes and a 12.7% rise in footfalls. Management has guided for aggressive expansion, planning 9 new hub centers and 10-12 spokes over the next 12 months. The flagship JP Nagar hub in Bengaluru was commissioned in July 2026, marking a key step in geographical diversification.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and announced an accelerated expansion plan for the next 12 months.
Why it mattersThe strong volume growth and margin expansion demonstrate high operational leverage; the aggressive hub expansion targets geographical diversification to reduce the current 67% revenue concentration in Hyderabad.
Q1 FY27 Revenue: ₹231.0 CrQ1 Revenue vs TTM Revenue: 28.8%EBITDA Margin: 42.7%YoY PAT Growth: 37.6%Planned Hub Expansion: 9 unitsTest Volume Growth: 16.5%
📅 Short termPositive sentiment is expected as the company exceeded its historical 15% growth guidance with 22.8% revenue growth and significant margin improvement.
📈 Long termThe successful rollout of the hub-and-spoke model in Bengaluru and Pune could structurally re-rate the business by proving its scalability beyond its home territory.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High geographic concentration (67% revenue from Hyderabad)
- Execution risk in new markets
- High valuation with P/E at 80.9
Key Highlights
Revenue from operations grew 22.8% YoY to ₹231.0 Cr in Q1 FY27
EBITDA margin expanded to 42.7% from 39.1% in the same quarter last year
Test volumes increased by 16.5% YoY to 4.59 million tests
Planned expansion of 9 hub centers and 10-12 spoke centers in the next 12 months
Revenue per footfall increased to ₹1,860, up from ₹1,707 in Q1 FY26
👀 What to Watch
Monitor the execution timeline and break-even performance of the 9 planned hub centers, particularly the new flagship JP Nagar hub, to assess the company's success in scaling outside its core Hyderabad market.
22.8% Revenue Growth in Q1 FY27; EBITDA Margins Expand to 42.7% on Strong Volumes
Vijaya Diagnostic reported a robust Q1 FY27 with consolidated revenue growing 22.8% YoY to ₹230.98 Cr, notably surpassing the previous quarter (Q4 FY26) despite Q1 being a seasonally moderate period. Profitability outperformed revenue growth, with PAT rising 37.6% YoY to ₹53.10 Cr and EBITDA margins expanding by 356 bps to 42.7%. Growth was driven by a 16.5% increase in test volumes and a 9.0% improvement in average realization per footfall, supported by the commissioning of new hubs in Hyderabad and Bengaluru.
Confidence: HIGH
What changedThe company has delivered a strong earnings beat, exceeding its typical 15% growth guidance with 22.8% revenue growth and significant margin expansion in a seasonally moderate quarter.
Why it mattersThe results validate the scalability of Vijaya's integrated 'Pathology + Radiology' model and its ability to drive higher realizations through advanced imaging and wellness packages (14.8% share).
Q1 Revenue: ₹230.98 CrQ1 PAT: ₹53.10 CrEBITDA Margin: 42.7%Revenue vs TTM Revenue: 28.8%Test Volume Growth: 16.5%Avg Realization per Footfall: ₹1,860
📅 Short termThe stock is likely to react positively to the margin expansion and strong volume growth, which indicates robust operational efficiency.
📈 Long termStructural growth remains supported by the hub-and-spoke expansion strategy; successful penetration into Bengaluru and Pune is critical for maintaining the current high valuation multiples.
⚠ Risk flags
- High P/E valuation (80.9) leaves limited room for execution errors
- Intense competition in new geographies like Bengaluru and Pune
Key Highlights
Revenue from operations increased 22.8% YoY to ₹2,309.8 Mn in Q1 FY27.
EBITDA margins expanded significantly to 42.7% from 39.1% in the previous year.
Total test volumes grew 16.5% YoY to 4.59 million, while footfalls rose 12.7% to 1.24 million.
Average realization per footfall improved by 9.0% YoY to ₹1,860.
Commissioned a flagship hub in JP Nagar, Bengaluru, featuring Karnataka's first 75cm wide-bore 3T Omega MRI.
👀 What to Watch
Monitor the ramp-up and break-even timeline of the new flagship Bengaluru hub and the four new spokes commissioned in Q1. Investors should watch if the company can maintain these industry-leading 40%+ EBITDA margins as it scales in competitive non-core markets like Pune and Bengaluru.
Vijaya Diagnostic Q1 FY27: Net Profit Surges 36% YoY to ₹53.15 Cr; Revenue Up 23%
Vijaya Diagnostic Centre reported a strong performance for Q1 FY27, with standalone revenue from operations growing 23.2% YoY to ₹218.54 Cr. Net profit for the quarter rose 36.1% YoY to ₹53.15 Cr, significantly outpacing revenue growth. Operational efficiency improved as EBITDA margins reached approximately 47.4%, up from 43.9% in the same quarter last year. The company also integrated the business of Medinova Millennium MRI Services LLP via a slump sale during this period.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results, showing significant YoY growth in both revenue and profitability, alongside the accounting integration of its 100% owned subsidiary Medinova Millennium MRI Services LLP.
Why it mattersThe results demonstrate the company's ability to scale its integrated pathology and radiology model effectively, maintaining high margins despite expansion into new competitive geographies like Bengaluru and Pune.
Q1 Revenue: ₹218.54 CrQ1 Net Profit: ₹53.15 CrYoY Revenue Growth: 23.2%EBITDA Margin: 47.4%ESOPs Granted: 179,500 units
📅 Short termThe stock is likely to react positively in the short term due to the strong double-digit growth in net profit and significant margin expansion compared to historical averages.
📈 Long termThe company's structural growth remains supported by its high-barrier radiology services and successful hub-and-spoke expansion, though long-term performance depends on maintaining market share in new cities.
⚠ Risk flags
- Potential equity dilution from the grant of 179,500 ESOPs
- High competitive intensity in expansion markets like Pune
Key Highlights
Revenue from operations increased 23.2% YoY to ₹218.54 Cr from ₹177.37 Cr.
Net profit grew 36.1% YoY to ₹53.15 Cr, compared to ₹39.05 Cr in Q1 FY26.
EBITDA margin expanded to 47.4% for the quarter, higher than the TTM average of 41.6%.
Basic EPS improved to ₹5.17 from ₹3.80 in the corresponding previous year quarter.
Granted 179,500 employee stock options (ESOPs) during the quarter under the 2018 plan.
👀 What to Watch
Investors should monitor the sustainability of the 47%+ EBITDA margins and the volume growth contribution from new hubs in Pune and Bengaluru. Watch for the upcoming Annual General Meeting for the final approval of the recommended ₹2 per share dividend.
36% YoY PAT Growth in Q1 FY27; Revenue up 23% to ₹218.5 Cr
Vijaya Diagnostic reported a strong performance for Q1 FY27, with standalone revenue from operations growing 23.2% YoY to ₹218.54 Cr. Net profit for the quarter surged 36.1% YoY to ₹53.15 Cr, significantly outperforming the previous year's Q1 profit of ₹39.05 Cr. The company maintained its operational momentum with an EPS of ₹5.17, up from ₹3.80 YoY. The results reflect the integration of Medinova Millennium MRI Services LLP, which was acquired via a slump sale approved in May 2026.
Confidence: HIGH
What changedThe company has reported a significant acceleration in both top-line and bottom-line growth for the first quarter of FY27 compared to the same period last year, alongside the formal accounting integration of the Medinova slump sale.
Why it mattersThe strong double-digit growth validates the company's 'Pathology + Radiology' integrated model and suggests successful execution of its expansion strategy in new geographies, which typically carry higher margins due to radiology's high entry barriers.
Revenue (Q1 FY27): ₹218.54 CrNet Profit (Q1 FY27): ₹53.15 CrYoY Revenue Growth: 23.2%YoY PAT Growth: 36.1%Proposed Dividend: ₹2.00 per shareQ1 Revenue vs TTM Revenue: 27.2%
📅 Short termThe stock is likely to react positively in the short term due to the strong earnings beat and robust YoY growth figures.
📈 Long termThe structural growth story remains strong as the company successfully replicates its Hyderabad hub-and-spoke model in other metro cities, maintaining high EBITDA margins.
⚠ Risk flags
- Integration risks of the Medinova slump sale
- Increased competition in the Pune and Bengaluru markets
Key Highlights
Revenue from operations increased by 23.2% YoY to ₹218.54 Cr in Q1 FY27.
Net profit grew by 36.1% YoY to ₹53.15 Cr, compared to ₹39.05 Cr in Q1 FY26.
Standalone Basic EPS rose to ₹5.17 from ₹3.80 in the corresponding quarter of the previous year.
The Board proposed a dividend of ₹2 per equity share (200% of face value) for FY26.
Granted 179,500 employee stock options under the 2018 ESOP plan during the quarter.
👀 What to Watch
Investors should monitor the sustainability of the 23% revenue growth rate against the management's long-term guidance of 15%, and track the break-even progress of new hubs in Pune and Bengaluru.
Vijaya Diagnostic Appoints Narasimha Raju K.A. as CFO, Effective July 09, 2026
Vijaya Diagnostic Centre has appointed Mr. Narasimha Raju K.A. as its Chief Financial Officer, effective July 09, 2026. Mr. Raju is a returning executive who previously served as the company's CFO from March 2021 to March 2025, a period that included the company's successful IPO. With over 20 years of experience in healthcare and diagnostics finance, his return provides leadership continuity as the company targets a 15% CAGR and integrates the Medinova merger. The appointment is significant given the company's high operating margins of 41.6% and ongoing expansion in Pune and Bengaluru.
Confidence: HIGH
What changedThe company has re-hired its former CFO, Narasimha Raju K.A., to lead the finance function, replacing the interim or previous leadership.
Why it mattersLeadership continuity is vital for a high-growth healthcare firm (22% ROCE). His familiarity with Vijaya's 'Pathology + Radiology' model and previous IPO experience reduces transition risks during the current expansion phase.
Professional Experience: 20+ yearsPrevious Tenure at Vijaya: March 2021 to March 2025TTM Revenue: Rs 802 CrOperating Profit Margin: 41.6%
📅 Short termThe market is likely to view the return of a known and experienced CFO as a stabilizing move, supporting the current positive price momentum.
📈 Long termHis expertise in M&A and capital markets is structurally significant as the company integrates Medinova and pursues inorganic growth to maintain its 15% CAGR target.
Key Highlights
Mr. Narasimha Raju K.A. appointed as CFO effective July 09, 2026, bringing 20+ years of experience.
Previously served as the company's CFO for 4 years between March 15, 2021, and March 26, 2025.
Led the company's IPO process and strengthened governance frameworks during his previous tenure.
Joins from Yashoda Group of Hospitals, where he served as CFO after his first stint at Vijaya.
Experience includes Big Four audit background with S R Batliboi & Co (EY affiliate).
👀 What to Watch
Investors should watch for continued stability in financial reporting and the execution of the 15% top-line growth guidance under the returning CFO's leadership.
Vijaya Diagnostic Re-appoints Former CFO Narasimha Raju K.A. with 20+ Years Experience
Vijaya Diagnostic Centre has appointed Mr. Narasimha Raju K.A. as Chief Financial Officer effective July 09, 2026. Mr. Raju is a returning leader who previously served as the company's CFO from March 2021 to March 2025, a period that included the company's IPO. He brings over 20 years of experience in finance and corporate governance, most recently serving as CFO of Yashoda Group of Hospitals. This appointment provides leadership continuity as the company targets a 15% CAGR and integrates the Medinova merger.
Confidence: HIGH
What changedThe company has re-hired its former CFO, Mr. Narasimha Raju K.A., to lead its financial operations, replacing the interim or previous incumbent.
Why it mattersCFO continuity is vital for a high-margin (41.6% OPM) business. His familiarity with Vijaya's specific 'Pathology + Radiology' model and previous experience with their IPO and capital market transactions reduces operational transition risks.
Professional Experience: 20+ yearsPrevious Tenure at Vijaya: March 2021 to March 2025TTM Revenue: ₹802 CrTTM Operating Profit Margin: 41.6%Market Capitalization: ₹14,044 Cr
📅 Short termThe market is likely to view the return of a proven CFO positively, as it suggests stability and institutional memory during a period of geographic expansion.
📈 Long termHis expertise in M&A and capital markets will be critical as the company integrates Medinova and pursues further inorganic growth to sustain its 15% CAGR target.
Key Highlights
Appointment of Mr. Narasimha Raju K.A. as CFO effective July 09, 2026
Mr. Raju previously served as the company's CFO for 4 years between March 15, 2021, and March 26, 2025
Candidate brings over 20 years of experience across healthcare, diagnostics, and renewable energy sectors
Successfully led the company's IPO and DRHP process during his previous tenure
Company maintains a high TTM Operating Profit Margin of 41.6% and a 15% growth guidance
👀 What to Watch
Investors should monitor the company's execution on its 15% CAGR guidance and the speed of break-even for new hubs in Pune and Bengaluru under the returning financial leadership.
Vijaya Diagnostic Centre CTO Sai Siva Prasad Resigns; Last Working Day August 08, 2026
Vijaya Diagnostic Centre Limited has announced the resignation of its Chief Technology Officer (CTO), Mr. Sai Siva Prasad, citing personal reasons. The resignation was tendered on June 09, 2026, and he will continue in his role until August 08, 2026, to facilitate a smooth transition. This follows a separate notification regarding the resignation of the CFO, Mr. Ankit Shah, effective July 24, 2026, indicating a period of significant leadership transition within the company's senior management.
Key Highlights
Mr. Sai Siva Prasad resigned as Chief Technology Officer (CTO) effective from the close of business on August 08, 2026.
The resignation was officially submitted on June 09, 2026, citing personal reasons for the departure.
This management change coincides with the upcoming departure of the company's CFO in July 2026.
The company is currently managing the handover process to ensure operational and technological continuity.
👀 What to Watch
Investors should monitor the company's ability to recruit qualified successors for both the CTO and CFO positions to ensure that financial and technological strategies remain uninterrupted.
Vijaya Diagnostic Appoints Two Independent Directors with Pharma and AI Expertise
Vijaya Diagnostic Centre has appointed Mr. Satyanaryana Murthy Chavali and Mr. Dipinder Singh Sekhon as Additional Independent Directors effective May 26, 2026. Mr. Chavali, appointed for a 5-year term, brings deep pharmaceutical leadership experience from his time as CEO of Aurigene Discovery Technologies and senior roles at Dr. Reddy's. Mr. Sekhon, appointed for a 2-year term, is an AI and medical imaging specialist who founded iKITES.ai and Ophthal.ai. These appointments are intended to bolster the board's strategic oversight in healthcare technology and large-scale operations.
Key Highlights
Mr. Satyanaryana Murthy Chavali appointed as Independent Director for a 5-year term starting May 26, 2026.
Mr. Dipinder Singh Sekhon appointed as Independent Director for a 2-year term starting May 26, 2026.
New directors bring specialized expertise in pharmaceutical R&D, AI-driven medical imaging, and technology entrepreneurship.
Appointments are subject to shareholder approval and comply with SEBI Listing Regulations.
👀 What to Watch
Investors should view these appointments as a positive move to strengthen board-level expertise in AI and pharma, which could drive future diagnostic innovations. No immediate portfolio action is required.
Vijaya Diagnostic Appoints Pharma and AI Experts as Independent Directors
Vijaya Diagnostic Centre has appointed Mr. Satyanaryana Murthy Chavali and Mr. Dipinder Singh Sekhon as Independent Directors for terms of 5 and 2 years respectively, effective May 26, 2026. Mr. Chavali brings extensive pharmaceutical leadership experience from Dr. Reddy's and Aurigene, while Mr. Sekhon is an AI strategist specializing in medical imaging. These appointments are intended to strengthen the board's expertise in strategic leadership and technology-driven healthcare innovation. The move reflects a commitment to corporate governance and leveraging advanced technology in the diagnostic sector.
Key Highlights
Mr. Satyanaryana Murthy Chavali appointed as Independent Director for a 5-year term starting May 26, 2026
Mr. Dipinder Singh Sekhon appointed as Independent Director for a 2-year term starting May 26, 2026
New directors bring specialized expertise in pharmaceutical R&D, AI-powered medical imaging, and strategic business operations
Appointments are subject to shareholder approval as per SEBI Listing Regulations
👀 What to Watch
Investors should view these appointments as a positive enhancement of board quality, particularly the addition of AI and pharma expertise. No immediate action is required, but it signals a focus on technological integration in diagnostics.
Vijaya Diagnostic Q4 FY26 Revenue Jumps 26.6% YoY; FY26 Revenue Crosses ₹800 Cr Milestone
Vijaya Diagnostic reported a strong Q4 FY26 with revenue growing 26.6% YoY to ₹219 crores, driven by an 18.5% increase in test volumes. The company achieved a significant milestone as full-year FY26 revenue crossed ₹800 crores, reaching ₹814 crores with a robust EBITDA margin of 41.4%. Profitability improved significantly with Q4 PAT rising 37.5% YoY to ₹47.9 crores. Management plans to continue aggressive expansion in FY27 with 4-5 new hubs and a state-of-the-art automated lab in Hyderabad.
Key Highlights
Q4 FY26 Revenue grew 26.6% YoY to ₹219 crores, supported by 18.5% volume growth
EBITDA margins expanded by 379 bps YoY to 43.5% in Q4 FY26
Full-year FY26 revenue reached ₹814 crores, delivering a 5-year CAGR of 17%
Planned FY27 capex of ₹140-₹150 crores for 4-5 hubs and 10-12 spokes
B2C segment remains dominant, contributing 92% of total revenue
👀 What to Watch
Investors should view the strong volume growth and margin expansion as a sign of high operational efficiency and brand strength. The stock remains a solid pick in the diagnostic space given its B2C focus and disciplined expansion strategy.
Vijaya Diagnostic Q4 PAT Surges 37.5% YoY to ₹47.9 Cr; FY26 Revenue Crosses ₹800 Cr
Vijaya Diagnostic reported a robust Q4 FY26 with revenue growing 26.6% YoY to ₹219.4 crore, driven by strong 18.5% volume growth in tests. The company achieved its highest-ever quarterly revenue and maintained a superior EBITDA margin of 43.5%, up from 39.8% in the previous year. For the full year FY26, revenue reached ₹814.2 crore, marking a 19.5% growth, while PAT rose 20.3% to ₹173 crore. The company continues to maintain a high B2C revenue share of 92% and is aggressively expanding its footprint in Bengaluru and West Bengal.
Key Highlights
Q4 FY26 Revenue grew 26.6% YoY to ₹2,194 Mn with EBITDA margins expanding 379 bps to 43.5%.
Full-year FY26 PAT increased by 20.3% to ₹1,730 Mn, surpassing the company's long-term growth guidance.
B2C segment remains the core strength, contributing 92% of total revenue with footfalls rising 15.8% in Q4.
Wellness segment showed significant momentum, growing 32.2% YoY in Q4 FY26.
Expansion plans for FY27 include adding 4-5 new hubs and 10-12 spokes to deepen presence in non-core markets.
👀 What to Watch
Vijaya Diagnostic demonstrates industry-leading margins and strong cash flow generation from its B2C-heavy model. Investors should view the consistent volume growth and successful break-even of new hubs as positive indicators for long-term scalability.
Vijaya Diagnostic Q4 FY26 PAT Surges 37.5% YoY to ₹47.9 Cr; Revenue Up 26.6%
Vijaya Diagnostic reported a strong Q4 FY26 with revenue growing 26.6% YoY to ₹219.4 crore, driven by an 18.5% increase in total tests. EBITDA margins expanded significantly by 379 bps to 43.5%, leading to a 37.5% growth in Profit After Tax (PAT) to ₹47.9 crore. For the full year FY26, revenue crossed the ₹800 crore mark, representing a 19.5% growth over FY25. The company plans to continue its expansion in FY27 by adding 4-5 hubs and 10-12 spokes while investing in automation and genomics.
Key Highlights
Q4 FY26 Revenue grew 26.6% YoY to ₹2,193.8 Mn, marking the highest-ever quarterly revenue for the company.
EBITDA margins improved significantly to 43.5% in Q4 FY26 from 39.8% in Q4 FY25, a jump of 379 basis points.
Operational metrics showed strength with total tests increasing 18.5% YoY to 4.49 million and footfalls up 15.8%.
Full-year FY26 PAT stood at ₹1,729.8 Mn, reflecting a 20.3% growth compared to the previous fiscal year.
Expansion strategy remains robust with plans to add 4-5 hubs and 10-12 spokes in FY27 alongside a new automated lab in Hyderabad.
👀 What to Watch
Investors should view the strong margin expansion and volume growth as positive indicators of operational efficiency and market penetration. The quick break-even of new hubs suggests a scalable and profitable expansion model that warrants a positive outlook.
Vijaya Diagnostic Recommends ₹2 Dividend and Acquires Subsidiary Business for ₹4.20 Cr
Vijaya Diagnostic Centre has recommended a final dividend of ₹2 per share (200% of face value) for FY 2025-26. The company is consolidating its operations by acquiring the MRI, EEG, and NCV services business from its wholly-owned subsidiary, Medinova Millennium MRI Services LLP, for approximately ₹4.20 crore. Additionally, the board approved the grant of 1,79,500 ESOPs at an exercise price of ₹784 per share to eligible employees. Independent Director Dr. D Nageshwar Reddy will step down effective May 25, 2026, following the completion of his five-year term.
Key Highlights
Recommended a final dividend of ₹2 per equity share (200% on face value of ₹1) for FY26.
Acquisition of diagnostic services business from subsidiary Medinova Millennium for ~₹4.20 crore.
Grant of 1,79,500 ESOPs at ₹784 per share, representing a 20% discount to the 3-month average price.
Medinova Millennium MRI Services LLP reported a turnover of ₹2.36 crore for the financial year 2025-26.
Independent Director Dr. D Nageshwar Reddy to cease office on May 25, 2026, due to professional commitments.
👀 What to Watch
Investors should benefit from the ₹2 per share dividend and the operational streamlining through the subsidiary business acquisition. The ESOP grant at a discount suggests a focus on long-term employee alignment with company growth.
Vijaya Diagnostic: ₹2 Dividend, 1.79L ESOP Grant, and ₹4.2Cr Internal Acquisition
Vijaya Diagnostic Centre has recommended a final dividend of ₹2 per share (200% of face value) for the financial year ended March 31, 2026. The board approved the grant of 179,500 ESOPs at an exercise price of ₹784, which includes a 20% discount to the recent average market price. Additionally, the company is consolidating its operations by acquiring the MRI and EEG services business from its wholly-owned subsidiary, Medinova Millennium MRI Services LLP, for approximately ₹4.20 crore. Independent Director Dr. D Nageshwar Reddy will retire on May 25, 2026, following the completion of his first term.
Key Highlights
Recommended a final dividend of ₹2 per equity share (200% of face value ₹1) for FY 2025-26.
Granted 179,500 ESOPs at an exercise price of ₹784 per share with a 10-year exercise period.
Acquiring MRI, EEG, and NCV services business from subsidiary Medinova Millennium for ~₹4.20 crore.
Independent Director Dr. D Nageshwar Reddy to step down on May 25, 2026, due to professional commitments.
The internal acquisition is expected to be completed within 3 months to streamline healthcare service delivery.
👀 What to Watch
Investors should benefit from the ₹2 dividend and the operational streamlining through the internal acquisition. Monitor the company's growth trajectory following the consolidation of its subsidiary's diagnostic services.
Vijaya Diagnostic Recommends ₹2 Dividend; Acquires Subsidiary Business for ₹4.20 Cr
Vijaya Diagnostic Centre has recommended a final dividend of ₹2 per share (200% of face value) for FY26. The company is consolidating its operations by acquiring the MRI, EEG, and NCV services business from its wholly-owned subsidiary, Medinova Millennium MRI Services LLP, for a cash consideration of ₹4.20 crore. Furthermore, the board approved the grant of 1,79,500 ESOPs at an exercise price of ₹784 per share to align employee interests. Independent Director Dr. D Nageshwar Reddy will conclude his tenure on May 25, 2026, opting not to seek a second term due to professional commitments.
Key Highlights
Recommended a final dividend of ₹2 per equity share (200% on face value of ₹1) for the year ended March 31, 2026.
Internal acquisition of diagnostic services business from subsidiary for ~₹4.20 crore to be completed within 3 months.
Grant of 1,79,500 ESOPs at an exercise price of ₹784 per share, representing a 20% discount to the 3-month average price.
The acquired subsidiary business reported a turnover of approximately ₹2.36 crore for FY 2025-26.
Independent Director Dr. D Nageshwar Reddy to step down effective May 25, 2026, upon completion of his first term.
👀 What to Watch
Investors should welcome the dividend payout and the internal restructuring aimed at streamlining operations. Monitor the upcoming full financial results for deeper insights into organic growth and margin performance.
Vijaya Diagnostic Recommends ₹2 Final Dividend and Acquires Subsidiary Business for ₹4.20 Cr
Vijaya Diagnostic Centre has recommended a final dividend of ₹2 per share (200% of face value) for the financial year ended March 31, 2026. The company is also consolidating its operations by acquiring the MRI, EEG, and NCV services business from its wholly-owned subsidiary, Medinova Millennium MRI Services LLP, for approximately ₹4.20 crore. Additionally, the board approved the grant of 1,79,500 ESOPs at an exercise price of ₹784 per share. Independent Director Dr. D Nageshwar Reddy will step down on May 25, 2026, following the completion of his five-year term.
Key Highlights
Recommended final dividend of ₹2 per equity share (200% on face value of ₹1) for FY26
Acquisition of diagnostic business from subsidiary Medinova Millennium for ~₹4.20 crore
Grant of 1,79,500 ESOPs at an exercise price of ₹784, representing a 20% discount to the 3-month average
Subsidiary business being acquired reported a turnover of ₹2.36 crore in FY 2025-26
👀 What to Watch
Investors should benefit from the dividend payout and the operational streamlining through subsidiary consolidation. Monitor the upcoming AGM for dividend approval and the long-term impact of ESOP dilution on earnings.
Vijaya Diagnostic Recommends ₹2 Dividend and Acquires Subsidiary Business for ₹4.20 Cr
Vijaya Diagnostic Centre has recommended a final dividend of ₹2 per share (200% of face value) for the financial year ended March 31, 2026. The company is consolidating its operations by acquiring the MRI, EEG, and NCV services business from its wholly-owned subsidiary, Medinova Millennium MRI Services LLP, for approximately ₹4.20 crore. Additionally, the board approved the grant of 1,79,500 ESOPs at an exercise price of ₹784 per share, which includes a 20% discount. Independent Director Dr. D Nageshwar Reddy will step down on May 25, 2026, upon completion of his term.
Key Highlights
Recommended a final dividend of ₹2 per equity share (200% on face value of ₹1) for FY26.
Acquisition of MRI, EEG, and NCV services business from subsidiary for ~₹4.20 crore in cash.
Grant of 1,79,500 ESOPs at an exercise price of ₹784 per share, a 20% discount to the 3-month average.
Target subsidiary Medinova Millennium MRI Services LLP reported a turnover of ₹2.36 crore for FY 2025-26.
Independent Director Dr. D Nageshwar Reddy to retire effective May 25, 2026, due to professional commitments.
👀 What to Watch
Investors should view the dividend and internal business consolidation as positive steps toward operational efficiency and shareholder rewards. The ESOP grant price of ₹784 provides a useful reference point for the company's internal valuation benchmarks.
Vijaya Diagnostic Q3 FY26: Record Revenue of ₹205 Cr, EBITDA Margins Expand to 41.9%
Vijaya Diagnostic reported its highest-ever quarterly revenue of ₹205 crores in Q3 FY26, marking a robust 21.4% YoY growth driven by a 14.7% increase in test volumes. Profitability showed significant improvement with EBITDA rising 28.2% YoY to ₹86 crores, while EBITDA margins expanded by 221 basis points to reach 41.9%. The company successfully expanded its footprint with four new hubs during the quarter, including two in West Bengal where early launches have already achieved breakeven within three quarters. Management maintains a strong balance sheet with a net surplus cash of ₹260 crores and has planned a capex of ₹100-120 crores for FY27 to fuel further expansion.
Key Highlights
Highest ever quarterly revenue of ₹205 crores, up 21.4% YoY with 14.7% volume growth
EBITDA margins expanded by 221 bps YoY to 41.9%, with PAT growing 22.3% to ₹43 crores
Core Hyderabad market grew 15% YoY, while West Bengal expansion showed early success with 3-quarter breakevens
Strong liquidity position with net surplus cash of ₹260 crores as of December 31, 2025
Planned FY27 capex of ₹100-120 crores focusing on 4-5 new hubs and 10-12 spokes
👀 What to Watch
Investors should view the strong margin performance and rapid breakeven in new territories as a sign of efficient scaling. The stock remains attractive given its robust B2C mix and significant cash reserves for future growth.
