Vijaya Diagnostic Centre has finalized the distribution of proceeds from the sale of fractional entitlements generated during its scheme of amalgamation with Medinova Diagnostic Services Limited. The company’s Audit Committee and Independent Directors certified on August 6, 2026, that net sale proceeds totaling ₹51,84,902.83 have been disbursed to eligible shareholders or held in escrow in compliance with Securities and Exchange Board of India (SEBI) regulations.

The certification addresses the resolution of fractional shares that emerged from the 22:1 share exchange ratio approved by the National Company Law Tribunal (NCLT), Hyderabad Bench. Under the scheme, Medinova shareholders received one Vijaya Diagnostic Centre equity share for every 22 Medinova shares held as of the record date on November 25, 2025. Allotments were issued on January 8, 2026. Fractional entitlements aggregating to 3,914 equity shares were consolidated and allotted to Catalyst Trusteeship Limited, the corporate trustee appointed by the Board, to hold in trust for eligible shareholders.

Vijaya Diagnostic Centre sold the 3,914 fractional shares on June 22, 2026, generating gross proceeds of ₹51,97,897.68 at an average price of ₹1,328.027 per share. After deducting expenses and applicable taxes amounting to ₹12,994.85, the net sale proceeds stood at ₹51,84,902.83. These funds were transferred to a separate account with HDFC Bank titled "Vijaya Diagnostic Centre Ltd-Fractional shares" specifically for distribution purposes.

Distribution was executed via banking mode on August 5, 2026. However, a significant portion of the funds could not be immediately disbursed due to incomplete or unavailable bank account details for certain eligible shareholders. Consequently, ₹36,85,326.84 has been maintained in an escrow account (account number 50200118300305) with HDFC Bank. Only ₹14,99,575.99 was directly credited to shareholders who provided valid banking information.

The company has undertaken to use its best efforts to trace the missing bank details and remit the outstanding amounts. If the details remain untraceable after seven years despite these efforts, the unpaid amounts will be transferred to the Investor Education and Protection Fund (IEPF) as per statutory rules. This process ensures compliance with Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated June 20, 2023, which mandates the disposal of fractional entitlements and proportional distribution of proceeds to shareholders.

Vijaya Diagnostic Centre Limited reported a 22.8% year-on-year increase in consolidated revenue from operations to ₹2,310 million for the quarter ended June 30, 2026, driven by strong volume growth and the commissioning of advanced diagnostic hubs in Hyderabad and Bengaluru. Profit after tax (PAT) surged 38.6% to ₹531 million, while earnings before interest, tax, depreciation, and amortization (EBITDA) rose 34.0% to ₹985 million, reflecting improved operating leverage. The results, disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlight the company's ability to scale organically in core geographies while expanding its footprint in newer markets.

The financial performance was underpinned by a 16.5% increase in total tests performed to 4.59 million and a 12.7% rise in footfalls to 1.24 million. Average realization per test grew 5.5% to ₹503, indicating that growth is supported by both volume expansion and moderate price realization improvements. The company's integrated business model, characterized by a high B2C concentration, continues to drive industry-leading margins and cash generation.

Financial Performance

The key financial metrics for Q1FY27 demonstrate consistent growth across top-line and bottom-line parameters compared to the corresponding period in FY26. The EBITDA margin expanded to 42.66%, while the PAT margin widened to 23.0%.

Operational Highlights

Operational metrics reflect increased patient engagement and efficient utilization of infrastructure. The number of tests per footfall rose to 3.70 from 3.58 in Q1FY26, suggesting deeper penetration of diagnostic services per patient visit. The wellness segment continued to show sustained momentum, with its share contributing 14.8% to the revenue mix, up from 14.2% in the previous year.

Strategic Expansion and Technology

Vijaya Diagnostic Centre Limited inaugurated several new facilities in Q1FY27, reinforcing its densification strategy. Key developments include:

• Bengaluru: Launched a state-of-the-art flagship hub in JP Nagar in July 2026, featuring a digital PET-CT with an in-built cardiac CT and a wide-bore 75cm 3T Omega MRI, noted as the first of its kind in Karnataka.
• Hyderabad: Opened a hub centre in Gachibowli in April 2026, equipped with a 160-slice cardiac CT, and two spokes in Ramanthapur and Chintalmet in June 2026.
• Andhra Pradesh & Pune: Commissioned four additional spokes across Hyderabad, Andhra Pradesh, and Pune during the quarter.

What the Numbers Show

The divergence between revenue growth (22.8%) and EBITDA growth (34.0%) indicates significant operating leverage as the company scales. With the average realization per test rising alongside volume growth, the company is successfully balancing accessibility with premium service offerings. The expansion into high-end imaging technologies, such as the wide-bore MRI in Bengaluru, positions the company to capture higher-margin radiology revenues, further supporting margin expansion trends observed in the quarter.