Krsnaa Diagnostics Reports Strong Q2 FY26 Results, Plans Major Rajasthan PPP Expansion
Krsnaa Diagnostics reported strong Q2 FY26 results with 11% revenue growth and 18% EBITDA growth. The company is rapidly expanding its Rajasthan PPP project and retail business, expecting significant future revenue accretion.
The announcement includes strong financial performance for Q2 FY26, significant progress on India's largest diagnostic PPP project in Rajasthan with clear operationalization timelines, and aggressive growth targets for the retail segment, all of which are material to the company's future revenue and profitability.
The company reported robust financial growth with increased revenue, EBITDA, and PAT, alongside improved margins. Management expressed confidence in future growth from large-scale projects like Rajasthan PPP and strong retail segment expansion.
Krsnaa Diagnostics Limited announced its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, and released the transcript of its earnings conference call held on November 10, 2025. Financial Highlights (Q2 FY26): * Revenue stood at ₹206 crore (₹2,060 million), an 11% year-on-year growth. * EBITDA was ₹60.2 crore (₹602 million), growing 18% year-on-year, with a healthy 29% margin (221 basis point expansion). * Profit after tax (PAT) increased by 22% year-on-year to ₹24 crore (₹239 million), translating to a 12% margin. * Earnings per share (EPS) was ₹7.25, up 24% year-on-year from ₹5.9 in Q2 FY25. Operational Highlights: * The company operates one of India's largest integrated diagnostics networks across 18 states and union territories, with over 200 CT and MRI centers. * It conducts radiology scans for more than 10 million patients annually. * Accreditations include India's first 36 NABH accredited radiology centers, 57 NABL accredited labs, India's first CAP accredited pathology lab in a government facility, and India's first ACR accreditation for a teleradiology hub. * The company maintains its leadership in government partnerships, offering services at prices 40% to 60% lower than market rates. * The retail (direct-to-consumer) business surged by an impressive 60% quarter-on-quarter in Q2 FY26, contributing approximately 8% of H1 FY26 revenues. The company expects retail to account for 8% to 10% of FY26 revenue and accelerate to 15% to 20% in FY27. * Expanded to more than 2,800 touch points across the country in just one year through an asset-light, partnership-driven strategy. Future Outlook & Management Commentary: * The Rajasthan PPP project, India's largest diagnostic PPP, is progressing on schedule: * 10 labs are set to operationalize in November 2025. * 25 labs and over 500 collection centers by December 2025. * The balance 152 labs and 1,100 collection centers by the end of Q4 FY26 (March 2026). * These projects are expected to add significant growth, with meaningful revenue accretion from Q4 FY25 onwards and a full-year contribution in FY27. * The company aims to bring down receivables from around 150 days to 100 days by year-end, which will help cushion capital requirements for CAPEX. * Management highlighted sustained improvement in EBITDA margins, profit margins, and return on capital employed (ROCE now trending towards 15%). * The company is focused on deepening its leadership in integrated diagnostics, continuously improving operational efficiency and margin profile, and driving diversified growth across both retail and PPP. * No plans for equity expansion as of now; borrowings are primarily for working capital and are managed to minimize financial impact.
What to do with a filing like this
Krsnaa Diagnostics Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Krsnaa Diagnostics Limited. Read the original for the full detail.