Krsnaa Diagnostics fell 6.43% to Rs 750.15 after the company's net profit declined 44.56% to Rs 12.54 crore on 27.9% decline in net sales to Rs 108.26 crore in Q2 September 2021 over Q2 September 2020.
In April-September 2021 period (H1 FY22), the company's revenue from operations stood at Rs 241 crore, up 19% year-on-year (y-o-y). Profit after tax without CCPS of Rs 34 crore, up by 167% with margins of 13.8%.In H1 FY22, EBITDA (excluding CSR and ESOP expense) was reported at Rs 74 crore, up 76% y-o-y. EBITDA margin increased to 30.9% in H1 FY22 compared with 20.9% in H1 FY21. The company's net cash position stood at Rs 326 crore at the end of September 2021.
During the first half of the current fiscal, the company said its core business (radiology and pathology) registered a revenue increase of 143% y-o-y, which was partially offset by a decline of 75% during Covid-19. Core business contribution was 89% whereas Covid-19 business contributed 11% to the total revenues in H1 FY22.
Yash Mutha, executive director, said: In the last 3 years (FY18-21), our total centre count has increased at a CAGR of 39% from 682 in FY18 to 1,803 in FY21, and during the same period our revenues grew at a CAGR of 64%. From a balance sheet perspective, the company continues to strengthen its capital structure and has repaid a total debt of Rs 178 crore in H1 FY22. We have utilized Rs 143 crore out of the total IPO proceeds of Rs 146 crore in line with our stated objective, and remaining amount is funded by internal accruals. In the last six months, we have won 5 PPP and private contracts to commission 29 CT scanners and 8 MRI machines in the states of Punjab, Himachal Pradesh, Karnataka and Maharashtra.
Looking ahead, Krsnaa Diagnostics remains confident to further expand its geographical footprint and penetrate deeper into the tier II and II cities under the PPP business model by offering competitive prices while maintaining quality diagnostic services. Furthermore, our hub and spoke model radiology facility in Pune is fully capable to process large volumes and will continue to allow us to maintain strong margins and profitability."
Krsnaa Diagnostics is India's fastest growing differentiated diagnostic services provider, both in radiology and pathology.
Shares of Krsnaa Diagnostics entered the bourses on 16 August 2021. The scrip was listed at Rs 1025 per share, at a premium of 7.44% to the initial public offer (IPO) price of Rs 954 per share. The issue opened for bidding on 4 August 2021 and closed on 6 August 2021. The price band of the IPO was set at Rs 933-954 per share. The issue was subscribed 64.40 times.
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