Vijaya Diagnostic Centre Limited (VDCL) has announced the completion of its amalgamation with Medinova Diagnostic Services Limited following NCLT approval on October 13, 2025. The scheme became effective on November 4, 2025, resulting in the automatic dissolution of Medinova Diagnostic Services without winding-up.

Key Details of the Share Allotment

• Record Date: November 25, 2025
• Share Exchange Ratio: 1:22 (1 share of VDCL for every 22 shares of Medinova)
• Face Value: VDCL shares have a face value of INR 1.00 each

Merger Highlights

• Effective Date: November 4, 2025
• NCLT Approval: Order dated October 13, 2025

Impact on Shareholding

Following the merger's effectiveness, the shareholding structure will undergo the following changes:

• Vijaya Diagnostic cancelled its investment of 62.02 lakh equity shares (62.14% stake) in Medinova.
• New shares will be issued to eligible Medinova shareholders as per the share exchange ratio.

Corporate Structure Changes

• Medinova Millennium MRI Services LLP, previously a wholly-owned subsidiary of Medinova, has become a wholly-owned subsidiary of Vijaya Diagnostic. The MRI services entity operates in Kolkata with a turnover of approximately INR 2.36 crores in FY2024-25.
• The authorized share capital of VDCL has increased to INR 230.50 crores divided into 230.50 crore equity shares of INR 1.00 each.

This corporate action represents a strategic move by Vijaya Diagnostic Centre to strengthen its market position and potentially enhance shareholder value through operational synergies. Shareholders of Medinova are advised to take note of the record date to ensure their eligibility for the share allotment in VDCL.

Vijaya Diagnostic Centre , a prominent player in the healthcare diagnostics sector, has reported a consolidated net profit of 433.00 million rupees for the second quarter. This marks a 3.3% increase from the 419.00 million rupees reported in the same period last year, indicating a steady growth trajectory for the company.

Financial Performance

The company's financial results demonstrate resilience in a competitive healthcare market. Here's a breakdown of the key figures:

Vijaya Diagnostic Centre reported Q2 revenue of 2.02 billion rupees, up from 1.83 billion rupees in the same period last year, representing a 10.4% increase. The company's Q2 EBITDA also saw growth, increasing to 818.00 million rupees from 760.00 million rupees year-over-year. However, the EBITDA margin declined to 40.60% compared to 41.54% in the previous year.

Corporate Developments

In addition to the financial results, Vijaya Diagnostic Centre has made significant corporate moves:

1. Merger Approval: The company has received approval from the National Company Law Tribunal (NCLT) for the amalgamation of Medinova Diagnostic Services Limited with Vijaya Diagnostic Centre Limited.

2. Effective Date: The merger scheme became effective on November 4, following the filing of the NCLT order with the Registrar of Companies, Hyderabad.

3. Share Exchange Ratio: As part of the merger, shareholders of Medinova Diagnostic Services will receive 1 equity share of Vijaya Diagnostic Centre for every 22 shares held in Medinova.

4. Record Date: November 25 has been set as the record date for determining the shareholders of Medinova who will be eligible for shares in Vijaya Diagnostic Centre.

5. Capital Structure Changes: Post-merger, Vijaya Diagnostic Centre's authorized share capital has increased to ₹230.50 million, divided into 230.50 million equity shares of ₹1 each.

6. Subsidiary Acquisition: As a result of the merger, Medinova Millennium MRI Services LLP, previously a wholly-owned subsidiary of Medinova Diagnostic Services, has now become a wholly-owned subsidiary of Vijaya Diagnostic Centre.

Market Implications

The increase in revenue and net profit, coupled with the strategic merger, positions Vijaya Diagnostic Centre for potential growth in the diagnostic services market. The company's ability to grow its top line and maintain profitability, despite a slight decline in EBITDA margin, demonstrates its resilience in a competitive landscape.

The integration of Medinova Diagnostic Services and the resulting expansion of Vijaya's subsidiary portfolio could potentially lead to enhanced market reach and operational efficiencies.

As the healthcare diagnostics sector continues to evolve, Vijaya Diagnostic Centre's latest financial results and corporate restructuring may signal its readiness to capitalize on emerging opportunities in the industry.