Vijaya Diagnostic Centre Limited concluded its 24th Annual General Meeting on September 24, 2026, where shareholders adopted the audited standalone and consolidated financial statements for FY26. The meeting, conducted via Video Conferencing and Other Audio Visual Means, also approved a final dividend of ₹2 per equity share.

The company’s Board of Directors reported no qualifications, observations, or adverse comments in the Statutory Auditors’ report on the financial statements for the year ended March 31, 2026. Similarly, the Secretarial Audit Report contained no adverse remarks. The meeting was attended by 65 members through virtual means, with e-voting facilities provided by KFin Technologies Limited.

Key resolutions passed

Shareholders transacted both ordinary and special business items as outlined in the notice:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Declaration of a final dividend of ₹2 (200%) per equity share of face value ₹1 each.
• Re-appointment of Sura Geeta Reddy as Director, retiring by rotation.
• Ratification of Cost Auditor remuneration for FY27.
• Amendments to the Employee Stock Option Plan 2018 and approval of Scheme 7 grants.

Leadership and attendance

Dr. Sura Surendranath Reddy served as Executive Director and Chairman of the meeting. S Suprita Reddy, Managing Director and CEO, briefed shareholders on the company’s performance and strategic outlook. Narasimha Raju K A, Chief Financial Officer, detailed the financial and operational metrics.

Other directors present included K. Sunil Chandra (Whole-time Director), S Geeta Reddy (Non-Executive Director), and independent directors C Satyanarayana Murthy, S. Ravi, K. Sasikala Paruchuri, and Dipinder Singh Seekhon. B S R and Co served as Statutory Auditors, while D. Balarama Krishna acted as Secretarial Auditor and Scrutinizer.

Vijaya Diagnostic Centre board approved the acquisition of Arya Wellness Centre's diagnostic operations in Assam for ₹46.20 crore through a slump sale on September 11, 2026. The deal marks the company's strategic entry into the North-East India diagnostics market.

Acquisition details

The transaction involves the purchase of Arya Wellness Centre's diagnostic business in Assam as a going concern through a slump sale structure from NEMRIL HRPL JV (North Eastern Medical Research Institute Limited – Hexagon Research Private Limited JV). The deal is subject to customary closing working capital adjustments and requisite statutory approvals.

A slump sale involves the transfer of a business undertaking as a whole, including all its assets and liabilities, for a lump sum consideration without assigning individual values to each component. This structure is commonly used in corporate acquisitions of operational business units.

Target financials

The target entity operates within the Healthcare and Diagnostics industry, providing comprehensive pathology and radiology services on a B2C basis. The following table outlines the historical turnover of the acquired business:

In FY26, the business recorded revenue from operations of ~₹26 cr. with IND AS EBITDA of ₹5.6 cr. and IND AS Adjusted PAT of ₹2.5 cr. The business mix comprises 56% pathology and 44% radiology. Over 85% of revenues are generated from the B2C segment.

The proposed transaction does not constitute a related party transaction. The promoter, promoter group, and group companies of Vijaya Diagnostic Centre do not hold any interest in the seller entity.

Strategic context

The acquisition extends Vijaya Diagnostic Centre's presence into Assam, adding an established diagnostic network in the northeastern region to its portfolio. The deal was sanctioned at the board level, underscoring the company's commitment to geographic expansion through inorganic growth. The transaction is tentatively expected to be completed within 90 days, or such extended period as may be mutually agreed upon by the parties, subject to the fulfilment of customary conditions precedent specified in the Business Transfer Agreement.

What the Numbers Show

The acquisition price of ₹46.20 crore implies a valuation multiple of approximately 8.2x on the target's FY26 IND AS EBITDA of ₹5.6 crore. This aligns with management's stated valuation range of ~8–9x EBITDA. With an adjusted PAT of ₹2.5 crore, the transaction is expected to be EPS accretive from the outset.