Medinova Diagnostic Service Limited (Medinova) has taken a significant step towards consolidation in the diagnostic services sector. The company's Board of Directors has approved the unaudited standalone and consolidated financial results for the second quarter and half-year ended September 30, 2025, alongside a major corporate restructuring move.

Merger Approval and Terms

The company received sanction from the National Company Law Tribunal (NCLT), Hyderabad, on October 13, 2025, for its amalgamation scheme with Vijaya Diagnostic Centre Limited. Under the terms of the merger:

• Shareholders of Medinova will receive 1 equity share of INR 1 face value in Vijaya Diagnostic Centre for every 22 equity shares of INR 10 face value held in Medinova Diagnostics.
• The appointed date for the merger is set as April 1, 2024.
• The record date to determine eligible shareholders is November 25, 2025.

Financial Performance

Medinova's financial results for Q2 and H1 FY2026 showcase a robust performance:

Consolidated Results (H1 FY2026)

Key Highlights

• The company witnessed a significant improvement in profitability, with net profit increasing by 27.78% year-over-year.
• Operating revenue grew by 3.30%, indicating steady business performance.
• Earnings per share (EPS) for the half-year stood at INR 1.18, up from INR 0.92 in the same period last year.

Balance Sheet Strength

As of September 30, 2025, Medinova's consolidated balance sheet reflects:

• Total assets of INR 761.97 lakhs
• A notable improvement in the equity position, with the negative equity reduced to INR 8.33 lakhs from INR 124.79 lakhs as of March 31, 2025

Merger Implications

The amalgamation with Vijaya Diagnostic Centre is expected to create synergies in the diagnostic services sector. This strategic move may lead to:

• Enhanced market presence
• Operational efficiencies
• Expanded service offerings

The merger will be effective upon filing the certified copy of NCLT's order with the Registrar of Companies, Hyderabad.

Looking Ahead

As Medinova Diagnostic Services prepares for this transition, the focus will likely be on integration and leveraging combined strengths. Stakeholders will be watching closely how this merger impacts the competitive landscape in the diagnostic services industry.

The company's improved financial performance, coupled with the strategic merger, positions Medinova for potential growth in the evolving healthcare diagnostics market.

Medinova Diagnostic Service Limited (MDSL) has taken a significant step towards its merger with Vijaya Diagnostic Centre Limited (VDCL), as announced in a recent corporate filing. The company has received the certified true copy of the National Company Law Tribunal (NCLT) order dated October 13, 2025, approving the amalgamation between the two diagnostic service providers.

Key Details of the Merger

Merger Process and Next Steps

The merger process is now in its final stages, with both companies required to take crucial steps to complete the amalgamation:

1. Filing with Registrar of Companies: Both MDSL and VDCL must file the certified true copy of the NCLT order along with the amalgamation scheme with the Registrar of Companies in Hyderabad.

2. Effective Date: The merger will become effective on the date when both companies complete the filing process mentioned above.

3. Public Announcement: Once the scheme becomes operational, the effective date will be communicated to the stock exchanges for public dissemination.

Implications and Outlook

This merger represents a significant development in the diagnostic services sector. The amalgamation of Medinova Diagnostic Services with Vijaya Diagnostic Centre is expected to combine the strengths and resources of both entities, potentially leading to enhanced service offerings and operational efficiencies.

Investors and stakeholders of both companies should keep a close watch on further announcements regarding the completion of the merger process and its potential impact on the companies' operations and market position.

As the diagnostic services industry continues to evolve, consolidation moves like this merger may play a crucial role in shaping the competitive landscape and service quality in the sector.