Krsnaa Diagnostics Ltd Share Price – NSE  /  BSE

Healthcare, Small Cap

Krsnaa Diagnostics has incorporated a wholly owned subsidiary in the name of Krsnaa Retail on 04 April 2024. The new company will carry out business in the field of diagnostic services.

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The agency has also affirmed the company’s short term rating at ‘ICRA] A1’.

ICRA stated that the reaffirmation of ratings considers Krsnaa Diagnostic Limited’s (KDL/ the company) established market position in the public-private partnership (PPP) diagnostic services segment and extensive experience of the promoter in the healthcare industry.

The ratings also factor in KDL’s healthy bid-win ratio for Government tenders. Coupled with the long contract tenor of 3-12 years (including renewal clauses) and captive patient footfalls (from the partnered hospitals), this ensures strong revenue visibility for the company.

Further, ICRA notes thatthe company is expanding its geographical presence with new contract wins in Assam, Uttar Pradesh, Maharashtra, Odisha, Rajasthan and Delhi.

The ratings consider KDL’s strong financial risk profile characterised by healthy operating profit margins coupled with negative net debt position.

Krsnaa Diagnostics is a differentiated diagnostic service provider in India. It provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres across India.

The diagnostics services provider had reported a 4.91% decrease in consolidated net profit to Rs 12.97 crore in Q3 FY24 from Rs 13.64 crore in Q3 FY23. Revenue from operations jumped by 34.06% year-on-year (YoY) to Rs 158.32 crore in the quarter ended 30 September 2023.

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Net profit of Krsnaa Diagnostics declined 4.91% to Rs 12.97 crore in the quarter ended December 2023 as against Rs 13.64 crore during the previous quarter ended December 2022. Sales rose 34.06% to Rs 158.32 crore in the quarter ended December 2023 as against Rs 118.10 crore during the previous quarter ended December 2022.

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The Board of Krsnaa Diagnostics at its meeting held on 12 February 2024 has approved the incorporation of a wholly owned subsidiary of the company. The proposed company shall carry out business in the field of diagnostics services.

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