Vijaya Diagnostic FY26 Revenue Rises 26.6%
Vijaya Diagnostic Centre Limited reported strong financial results for the year ended March 31, 2026, with consolidated revenue rising 19.5% to INR 814 crores and net profit reaching INR 173 crores. For Q4 FY26, revenue grew 26.6% YoY to INR 219 crores, driven by an 18.5% increase in test volumes, while EBITDA margin expanded to 43.5%. The Board recommended a final dividend of INR 2 per share and approved an ESOP grant. Management announced FY27 expansion plans, including the commissioning of 4 to 5 hubs and 10 to 12 spokes, with a capex outlay of INR 140-150 crores.
*this image is generated using AI for illustrative purposes only.
Vijaya Diagnostic Centre Limited's Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026. The statutory auditors issued an unmodified opinion on the annual financial results. Alongside the results, the board approved an ESOP grant, a business acquisition, and a dividend recommendation. Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published the audited financial results in Financial Express (English) and Nava Telangana (Telugu) newspapers on May 08, 2026. Additionally, the management has made available the audio recording of the earnings conference call organised on May 08, 2026, accessible on the company's investor relations website.
Standalone Financial Performance
Vijaya Diagnostic Centre delivered a significant improvement in its standalone financial performance for the year ended 31 March 2026. Revenue from operations grew to Rs. 76,542.88 lakhs from Rs. 63,400.30 lakhs in the previous year, while total income rose to Rs. 79,058.69 lakhs from Rs. 65,252.39 lakhs. Standalone net profit for the year stood at Rs. 17,831.03 lakhs, compared to Rs. 13,592.97 lakhs in the prior year. For the quarter ended 31 March 2026, standalone revenue from operations was Rs. 20,626.71 lakhs, up from Rs. 16,163.85 lakhs in the corresponding quarter of the previous year.
The table below presents the key standalone financial metrics across periods:
| Metric: | Q4 FY26 | Q3 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|---|
| Revenue from Operations (Rs. lakhs): | 20,626.71 | 19,308.31 | 16,163.85 | 76,542.88 | 63,400.30 |
| Other Income (Rs. lakhs): | 722.75 | 554.51 | 548.91 | 2,515.81 | 1,852.09 |
| Total Income (Rs. lakhs): | 21,349.46 | 19,862.82 | 16,712.76 | 79,058.69 | 65,252.39 |
| Total Expenses (Rs. lakhs): | 14,523.51 | 13,960.04 | 12,056.39 | 55,419.85 | 46,897.00 |
| Profit Before Tax (Rs. lakhs): | 6,825.95 | 5,902.78 | 4,553.41 | 23,638.84 | 18,252.43 |
| Net Profit (Rs. lakhs): | 5,265.14 | 4,421.24 | 3,342.48 | 17,831.03 | 13,592.97 |
| Basic EPS (Rs.): | 5.12 | 4.30 | 3.25 | 17.33 | 13.23 |
| Diluted EPS (Rs.): | 5.11 | 4.29 | 3.24 | 17.31 | 13.20 |
Consolidated Financial Performance
On a consolidated basis, the Group recorded strong growth for the year ended 31 March 2026. Consolidated revenue from operations increased to Rs. 81,420.19 lakhs from Rs. 68,139.01 lakhs in the previous year. Total consolidated income for the year stood at Rs. 83,500.11 lakhs, compared to Rs. 69,970.96 lakhs. Consolidated net profit for the year was Rs. 17,297.66 lakhs, against Rs. 14,379.35 lakhs in the prior year. For the quarter ended 31 March 2026, consolidated revenue from operations was Rs. 21,937.67 lakhs, compared to Rs. 17,324.25 lakhs in the corresponding quarter of the previous year. On an operational efficiency basis, Q4 consolidated EBITDA rose to 955M rupees from 689M rupees in the same quarter of the previous year, with the EBITDA margin expanding to 43.54% from 39.75% year-on-year.
The table below presents the key consolidated financial metrics across periods:
| Metric: | Q4 FY26 | Q3 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|---|
| Revenue from Operations (Rs. lakhs): | 21,937.67 | 20,521.03 | 17,324.25 | 81,420.19 | 68,139.01 |
| Other Income (Rs. lakhs): | 240.03 | 510.19 | 554.86 | 2,079.92 | 1,831.95 |
| Total Income (Rs. lakhs): | 22,177.70 | 21,031.22 | 17,879.11 | 83,500.11 | 69,970.96 |
| Total Expenses (Rs. lakhs): | 15,750.88 | 15,208.94 | 13,039.09 | 60,232.22 | 50,551.59 |
| Profit Before Tax (Rs. lakhs): | 6,426.82 | 5,822.28 | 4,737.06 | 23,267.89 | 19,316.41 |
| Net Profit (Rs. lakhs): | 4,792.93 | 4,317.53 | 3,486.47 | 17,297.66 | 14,379.35 |
| Basic EPS (Rs.): | 4.66 | 4.20 | 3.39 | 16.81 | 13.99 |
| Diluted EPS (Rs.): | 4.65 | 4.19 | 3.38 | 16.79 | 13.97 |
Corporate Actions and Dividend
The Board recommended a final dividend of ₹2/- per equity share of Re. 1 each, i.e., 200% for the financial year 2025-26, subject to approval of members. The Board approved the grant of 1,79,500 ESOPs under the VDCL Employee Stock Option Plan 2018 at ₹784/- per option. Additionally, the board approved the acquisition of the MRI, EEG and NCV Services Business from Medinova Millennium MRI Services LLP for approximately ₹4.20 Crore. The company also noted the cessation of Independent Director Dr. D Nageshwar Reddy effective May 25, 2026.
Operational Highlights and Outlook
During the earnings conference call, management highlighted that the consolidated revenue for Q4 FY26 stood at INR 219 crores, reflecting a year-on-year growth of 26.6%, driven by a test volume growth of 18.5%. The EBITDA for the quarter was INR 95.5 crores, a growth of 38.7%, with a margin of 43.5%. For the full year FY26, consolidated revenue was INR 814 crores, a growth of 19.5%, with a net profit of INR 173 crores.
Management provided an outlook for FY27, announcing plans to commission 4 to 5 hubs and 10 to 12 spokes across the network. The capital expenditure for FY27 is estimated to be between INR 140 crores and INR 150 crores, which includes investment in a new automated lab in Panjagutta, Hyderabad. The company also plans to introduce advanced Genomic Testing. Geography-wise, Hyderabad contributed 67% of the revenue in Q4 FY26, while the rest of AP and Telangana contributed 20%, Pune 6%, West Bengal 4%, and other geographies 3%.
Historical Stock Returns for Vijaya Diagnostic Centre
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.73% | +2.89% | +17.67% | +29.69% | +36.99% | +111.01% |
How quickly can Vijaya Diagnostic's new fully automated lab in Panjagutta scale operations, and what measurable impact on turnaround times and margins could it deliver by end of FY27?
With Hyderabad still contributing 67% of revenue, what is management's timeline and strategy to meaningfully rebalance geographic concentration toward newer markets like Bangalore, West Bengal, and NCR?
Given that the Medinova acquisition covers only MRI, EEG, and NCV services for ₹4.20 crore, does this signal a broader inorganic strategy targeting specialty diagnostic assets in new geographies?
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