In Tuesday’s trading session, the shares of one of the leading Healthcare companies in India almost fell by 3.5 percent day’s trade despite the acquisition of a 5.4% stake from the Nippon India mutual fund.
Price action
With a market capitalization of 2,109.53 Crores on Tuesday, the shares of Suraksha Diagnostic Ltd fell by 3.5 percent making a low of Rs 402.10 compared to its previous closing price of Rs 410.70.
What happened
According to the company filing, Nippon India mutual fund, a domestic institutional investor, has acquired a fresh stake of 28.12 lakh equity shares which is equivalent to 5.4 percent of the company.
About the company
Suraksha Diagnostics Ltd is a prominent healthcare company specializing in diagnostic services was founded with the mission to provide accessible, affordable and high-quality healthcare solutions. The company offers a wide range of services, including pathology tests, radiology imaging and preventive health checkups. With a focus on accuracy and patient care, Suraksha Diagnostics employs state-of-the-art medical equipment and a team of skilled professionals, including pathologists, radiologists, and technologists.
The company strives to make healthcare services convenient and reliable, with a strong emphasis on delivering quick results. Suraksha Diagnostics has expanded its presence across various locations, catering to both urban and rural populations, and remains committed to maintaining high standards in medical testing. The company had 283 doctors across various segments.
Financials
The company’s revenue rose by 15 percent from Rs 190.13 crore in FY22-23 to Rs 218.70 crore in FY23-24. Meanwhile, Net profit increased by 281 percent from Rs 6.06 crore to Rs 23.12 crore during the same period.
Key Financial ratios
Suraksha Diagnostics Ltd had a Return on Equity (RoE) of 14.09 percent as of FY23-24 and a Return on Capital Employed (RoCE) of 21.46 percent as of FY23-24 and a P/E ratio of 83.22. Furthermore, the company’s net debt-to-equity ratio is 0.20 as of FY23-24.
Revenue Segmentation
As of FY24, the company earned its revenue from operations from Radiology which contributed around 46.03 percent, Pathology contributed around 53.30 percent, Doctor Consultation at 0.49 percent, and Covid Tests at 0.18 percent. Suraksha contributes around 6.17 percent from the B2B segment in FY24 which is nearly more than half from 3.99 percent in FY23.
Shareholding Pattern
Suraksha Diagnostics Ltd. has a well-diversified shareholding structure. As of December 2024, The promoters hold 48.78%, while Foreign Institutional Investors (FIIs) own 15.64% and Domestic Institutional Investors (DIIs) hold 13.99%. The remaining 21.59% is owned by the public, it reflects a balanced mix of promoter control and investor confidence from both institutional and retail shareholders.
Written by Sridhar
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