Shares of a small-cap company providing diagnostic service centers rose 4.5% on winning new projects to run Radiology and Pathology Laboratory Services at RINPAS, Jharkhand, and Sadar Hospital, Ranchi.
Share price variations:
With a market capitalization of Rs. 2,817.12 crores, Krsnaa Diagnostics Ltd, experienced a surge to an intraday high of Rs. 901.10. This marked a new 52-week high, representing a 4.5% increase from its previous closing price of Rs. 860.50 per share.
Reason for the Rise:
According to exchange filings, Krsnaa Diagnostics Ltd has agreed with the Ranchi Institute of Neuro-Psychiatry & Allied Services (RINPAS), under the Government of Jharkhand, to supply, install, commission, operate, and maintain a radiology center (CT & MRI) and pathology laboratory services under a public-private partnership (PPP) model.
Additionally, the company has secured another contract from Sadar Hospital, Ranchi, Jharkhand, for the commissioning, installation, operation, and maintenance of Radiology Services (CT and MRI), also on a public-private partnership basis.
Recent Contracts Received:
In July company made a contract with Madhya Pradesh Public Health Services Corporation Limited, Government of MP for setting up, operating, managing & maintaining MRI Scan machines at five District Hospitals of Madhya Pradesh.
Recent Developments and Collaborations:
In September, Krsnaa Diagnostics Ltd entered into a strategic collaboration with Boston Ivy Healthcare Solutions Limited and United Imaging Healthcare for the procurement of advanced diagnostic equipment. This partnership aims to develop 30 new imaging centers across India, with a total investment of Rs. 300 crores by the parties involved.
Recently, the company also collaborated with Apulki Healthcare Private Limited, becoming the exclusive diagnostics partner for its network of 10+ hospitals across India for the next 30 years.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 22.40% to Rs. 17.92 crore compared to Rs. 14.64 crore in Q1FY24, while revenue from operations also marked an increase of 21.95% to Rs. 170.23 crore from Rs. 139.58 crore in comparison to the same period. The stock has delivered a return of nearly 39% over the past 6 months.
About the company:
Krsnaa Diagnostics Ltd is primarily engaged in providing diagnostic services across India, specializing in Radiology, Pathology, and other related diagnostic services. The company focuses on the public-private partnership (PPP) model and holds the largest presence in the diagnostic PPP segment in India.
With operations spanning 17 states and union territories, Krsnaa Diagnostics has a footprint in over 150 districts across the country. As of Q1FY25, the company operates 168 CT/MRI centers and 1,443 Tele-Reporting centers under its Radiology division, along with 120 processing labs and 2,270 collection centers in its Pathology division.
The company’s region-wise revenue mix is divided as follows: 38% from the southern regions, 28% from the western regions, 23% from the northern regions, and 11% from the eastern parts of India.
Written By: Joseph Pv
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