Suraksha Diagnostic Ltd

Financial Performance

• Q1 FY27 total income INR 887 million; YoY growth 21%.
• EBITDA INR 315 million; margin 36% vs 34% in Q1 FY26.
• PAT INR 128 million; margin 14.7%; YoY growth 40%.
• Patients served 0.38 million; tests performed 2.10 million; tests per patient 5.56.
• Revenue per patient INR 2,321; EBITDA per patient Rs. 835.
• Network at 72 centres; added 1 hub and 3 spokes in Q1.
• Mature centres EBITDA margin 40.9%; centres <2 years profitable at 6.5% from -5.5% last quarter.

Operations & Genomics

• Genomics revenue Rs 13.7 million; up 136% YoY; five quarters of sequential growth.
• Genomics focus areas include prenatal, inherited diseases, pharmacogenomics, oncology panels; AI/genome testing in pipeline.
• Alzheimer’s blood test launched; AI MRI early-detection project with CSIR.
• Q1: one hub and three spokes commissioned; July–Aug adds two hubs and three spokes.
• Jharkhand hub commissioned; Tripura hub planned; throughput/utilization focus; centralized procurement for cost efficiencies.
• Genomics margins 15–20%; Genomics is 80% B2C and 20% B2B.

Guidance and Outlook

• FY27 EBITDA margin floor not below 34%.
• Genomics growth trajectory around 20% quarterly growth for FY27.
• Capex outlook around Rs 70–80 crores in FY27.
• On track to open 100 centres by FY28.

Q&A Highlights

• Margin expansion driven by volume and operating leverage; mature centers expected to sustain margins.
• Spoke vs hub expansion: capex light; ongoing center mix to support growth.
• Genomics capex spent around Rs 22 crore over 3 years; mature genomic labs turnover benchmark Rs 100–250 crore.
• Break-even: spoke centers 3–4 months; HO level 8–9 months.
• Geography: Jharkhand hub already open; Tripura slated; Greater Kolkata has nine hubs; potential to double.
• Test volume growth around 10–11% in Q1; mix improvement contributing to per-test uplift.

Meeting Details

• Date and time: 13 August 2026 at 11:30 IST.
• Type: earnings call with analysts/institutional investors.
• Mode: audio recording of the call.
• Event: earnings-related discussion for quarter ended 30 June 2026.
• Recording available on company website.

Participants

• Key company participant: Joint Managing Director & CEO.

Purpose

• Discuss unaudited standalone and consolidated results for Jun 2026 quarter.

Meeting Details

• Date and time: 13 August 2026, 11:30 a.m. IST.
• Type and mode: group earnings call; audio recording.
• Organizer: Suraksha Diagnostic Limited.

Participants

• Key company participant: Joint Managing Director & CEO.

Purpose

• Discuss unaudited Q1 FY27 results and other business discussions.

Additional Notes

• Audio recording available on the company website.

Business Overview

• Integrated diagnostic chain offering pathology and radiology across East India.
• Genomics launched July 2025; Q1 FY27 Genomics revenue ₹13.7m, up 136% YoY.
• Expanding footprint via hub-and-spoke model with new hubs/spokes added Q1 and Jul–Aug.
• Polyclinic and home-collection services broaden patient access and convenience.
• ERP, LIMS, RIS/PACS enable integrated operations and faster turnaround.

Key Operational Highlights

• Q1 FY27 total revenue ₹887.33m; YoY growth 20.7%.
• Q1 FY27 EBITDA ₹315.3m; margin 36.0%; PAT ₹128.45m; margin 14.7%.
• Network expanded: 1 hub + 3 spokes in Q1; 2 hubs + 3 spokes in Jul–Aug.
• Entered Jharkhand with Dhanbad hub; Berhampur hub launched Aug 2026.
• Mukundapur hub launched June 2026 with a 3T MRI.
• AIIR centre inaugurated June 2026 with day-care facility.
• Suraksha Genomics revenue ₹13.7m in Q1 FY27, up 136% YoY.
• Five consecutive quarters of sequential Genomics growth.
• FY27 target: 4 hubs and 7 spokes.

Financial Performance

• Q1 FY27 revenue from operations ₹876.45m; total revenue ₹887.33m; +20.7% YoY.
• Q1 FY27 EBITDA ₹315.3m; EBITDA margin 36.0%.
• FY26 consolidated: Total Revenue ₹3,135.78m; EBITDA ₹985.58m; PAT ₹314.02m.
• FY26 EBITDA margin 31.8%; PAT margin 10.1%; EPS ₹6.18.
• Total assets ₹4,481m; total equity ₹2,435m at FY26.
• Cash and cash equivalents ₹32.14m; bank balances ₹231.34m; lease liabilities ₹1,141.13m.
• Operating cash flow ₹818.29m; capex ₹673.45m; net cash increase ₹9.67m.

Capital Structure & Liquidity

• Lease liabilities form major non-current liability at ₹1,141.13m.
• Liquidity position is modest with cash ₹32.14m and bank balances ₹231.34m.
• Total assets ₹4,481m; total equity ₹2,435m indicate modest leverage.

Strategic Priorities & Outlook

• Expand footprint in Eastern and North-Eastern India via organic and inorganic growth.
• Strengthen B2B and institutional partnerships to access new customer segments.
• Increase polyclinic-driven medical consultations to lift patient footfalls.
• Invest in technology to improve diagnostic accuracy and turnaround time.
• Genomics roadmap includes whole genome, metagenomics, and AI interpretation.

Governance & Leadership

• JMD & CEO: Ritu Mittal; 29+ years in diagnostics.
• Board comprises 9 directors; independent directors include Pradip Dutta, Siddhartha Roy, Dharam Chand Dharewa, Ishani Ray.
• Chairman: Dr. Somnath Chatterjee.

Financial highlights

• Total income for Q1 FY27 was ₹887.33 million, up 20.7% YoY.
• EBITDA rose to ₹315.30 million, up 27.9% YoY.
• EBITDA margin improved to 36.0% from 34.0%.
• PAT stood at ₹128.45 million, up 40.0% YoY.
• PAT margin at 14.7% in Q1 FY27.

Operational highlights

• Total tests reached 2.10 million, up 8.9% YoY.
• Total patients rose to 0.38 million, up 12.1% YoY.
• Tests per patient declined to 5.56 from 5.72.
• Average revenue per test was ₹418, up 10.6% YoY.
• Average revenue per patient was ₹2,321, up 10.5% YoY.

Strategic developments

• Expanded network with one hub and three spoke centres commissioned in the quarter.
• Suraksha Genomics revenue grew 136% YoY in Q1 FY27.

Management commentary

• Commentary from Joint MD & CEO noted strong start with growth in volumes and realisations.

Financial results

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved.

Executive appointment

• Mr. Dinesh Gupta appointed Chief Financial Officer and Group CFO, effective 24 August 2026.

Shareholder actions

• Revised Notice for 21st AGM for FY2025-26 to be held on 22 September 2026 via VC/OAVM.
• Record date fixed at 15 September 2026 to determine dividend entitlement.
• Dividend, if approved, payable within statutory period under Companies Act 2013.

AGM Postponement

• 21st AGM postponed; revised date/time/venue to be decided and informed.