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SURAKSHA - Suraksha Diagno.

📊 NSE: SURAKSHA 🏢 Healthcare 📅 Last Updated: 12/14/2025 13:56

📢 Recent Corporate Announcements

Suraksha Diagnostic to Attend Investec India Promoter & Founder Conference on March 9, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Mar 2026, 01:22 PM

Suraksha Diagnostic Limited has announced its participation in the Investec India Promoter & Founder Conference 2026 scheduled for March 9, 2026. The company will engage with institutional investors and fund managers through one-on-one and group meetings in Mumbai starting at 10:00 AM IST. Management has clarified that discussions will be strictly based on publicly available information and no unpublished price-sensitive information will be shared. This event provides an opportunity for institutional players to gain deeper insights into the company's operational trajectory.

Meeting scheduled for Monday, March 9, 2026, at 10:00 AM IST in Mumbai.
Participation in the Investec India Promoter & Founder Conference 2026.
Interaction format includes both one-on-one and group meetings with fund managers.
Compliance confirmed with SEBI regulations regarding the use of publicly available information only.

💡 Investors should monitor for any investor presentations or transcripts released after the conference for insights into management's outlook. No immediate trading action is required as this is a routine investor relations activity.

Suraksha Diagnostic Group CFO K S Ravindra Resigns Effective May 31, 2026

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 02 Mar 2026, 12:22 PM

Suraksha Diagnostic Limited has announced the resignation of Mr. K S Ravindra from the post of Group Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The resignation was tendered on March 2, 2026, citing personal reasons, with his tenure concluding on May 31, 2026. The company has initiated a three-month notice period to ensure a smooth transition of financial responsibilities. No material reasons other than personal ones were cited for the departure.

Mr. K S Ravindra resigned as Group CFO and KMP on March 2, 2026
The resignation is effective from the close of business hours on May 31, 2026
A 3-month notice period is being served to facilitate a smooth leadership transition
The outgoing CFO confirmed there are no material reasons for resignation other than personal ones

💡 Investors should monitor the company's upcoming announcements regarding the appointment of a new CFO to ensure continuity in financial management. The three-month notice period provides a reasonable window for a stable transition.

Suraksha Diagnostic Q3 Revenue Jumps 30% YoY to ₹78.3 Cr; EBITDA Margins at 30.6%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 05:10 PM

Suraksha Diagnostic reported a strong 30.3% YoY increase in Q3 FY26 revenue to INR 783.09 million, driven by volume expansion and a shift towards high-value genomic testing. While EBITDA grew 26.1% to INR 237.82 million, margins saw a temporary compression to 30.6% due to pre-operative costs associated with 24 new centers. The company served 0.36 million patients in Q3, a 23% increase, while the total number of tests performed rose by 30.7% to 2.06 million. Management revised EBITDA margin guidance slightly downward to approximately 32% for the full year, citing aggressive network expansion and seasonal weakness.

Q3 FY26 revenue grew 30.3% YoY to INR 783.09 million, with 9M FY26 revenue up 21.86% to INR 2,313.81 million
EBITDA margin for Q3 stood at 30.6%, impacted by 24 new centers, while 42 mature centers maintain robust profiles
The new genomics vertical Suraksha Sutra is generating a monthly revenue run rate of approximately INR 2.1-2.2 million
The company remains net debt positive with a cash position of approximately INR 29 crores as of the reporting date
Expansion continues with 12 centers commissioned in 9 months and 6 more facilities currently in the execution phase

💡 Investors should focus on the successful ramp-up of new centers and the high-margin genomics vertical, which act as long-term growth drivers despite short-term margin compression. Monitor the stabilization of EBITDA margins as the 24 new centers reach maturity over the next 12-18 months.

Suraksha Diagnostic Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 06 Feb 2026, 05:51 PM

Suraksha Diagnostic Limited has officially released the audio recording of its earnings conference call held on February 6, 2026. The call addressed the company's unaudited standalone and consolidated financial results for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a mandatory regulatory requirement under SEBI's Listing Obligations and Disclosure Requirements. Investors can now access the management's detailed commentary on the company's operational performance and strategic outlook via the provided web link.

Earnings call conducted on February 6, 2026, following the Q3 FY26 results.
Covers financial performance for the quarter and nine months ended December 31, 2025.
Audio recording made available on the company's official website as per SEBI regulations.
Interaction involved company representatives discussing financial results with analysts and investors.

💡 Investors should listen to the recording to understand management's views on margin sustainability and expansion plans. This information is crucial for evaluating the company's performance relative to its peers in the diagnostic sector.

Suraksha Diagnostic Q3 Revenue Jumps 30% to ₹783 Mn; Mature Center Margins Hit 36.2%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 08:38 PM

Suraksha Diagnostic reported a robust 30.3% YoY revenue growth in Q3 FY26, reaching ₹783.09 million, driven by aggressive network expansion. While overall EBITDA margins compressed slightly to 30.6% due to pre-operative costs of 24 new centers, mature centers (over 2 years old) continue to deliver strong margins of 36.2%. The company is diversifying into high-value segments like Genomics and Fetal medicine to increase revenue per patient, which rose to ₹2,140. Management remains focused on 'Investing for Scale,' with 6 more centers planned for launch in Q4 FY26.

Q3 FY26 Revenue increased 30.3% YoY to ₹783.09 million, while PAT grew 21% to ₹72.41 million.
Mature centers (42 units) operate at a 36.2% EBITDA margin, while 24 new centers are currently at -12.5% during their gestation period.
Total network reached 66 diagnostic centers and 173 collection centers as of December 31, 2025.
Revenue per patient improved to ₹2,140 in 9M FY26, supported by the launch of the high-margin Suraksha Genomics vertical.
EBITDA for 9M FY26 stood at ₹734.04 million, representing a 12.8% YoY growth despite heavy investment in expansion.

💡 Investors should monitor the margin trajectory as the 24 recently opened centers mature; their shift toward the 36% margin profile of established centers will be the primary driver for future earnings upgrades. The successful scaling of the specialized Genomics vertical remains a key long-term catalyst for valuation re-rating.

Suraksha Diagnostic Q3 FY26 Income Up 30.3% to ₹783M; Test Volumes Surge 30.7%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 05:22 PM

Suraksha Diagnostic Limited reported robust Q3 FY26 results with total income rising 30.3% YoY to ₹783.09 million. Net profit increased by 21% to ₹72.41 million, while EBITDA grew 26.1% to ₹237.82 million. The company witnessed significant volume growth with total tests increasing by 30.7% YoY to 2.06 million. Although EBITDA margins compressed slightly to 30.6% due to aggressive expansion, mature centers continue to deliver strong 37% margins.

Total Income grew 30.3% YoY to ₹783.09 million in Q3 FY26.
EBITDA increased by 26.1% YoY to ₹237.82 million with a 30.6% margin.
Total test volume rose 30.7% YoY to 2.06 million; patients served grew 23% to 0.36 million.
Average Revenue per Patient (ARPP) increased 6.1% YoY to ₹2,181.
Added 12 new centers in 9M FY26 with 6 more currently under development.

💡 The stock remains attractive due to strong volume growth and the high-margin potential of mature centers (37%). Investors should watch for margin recovery as the 12 newly added centers scale up over the next 12-18 months.

Suraksha Diagnostic Q3 FY26 Standalone PAT Rises to ₹9.75 Crore, Income Up 20% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 04:47 PM

Suraksha Diagnostic Limited reported a steady growth in its standalone operations for the quarter ended December 31, 2025. Total standalone income reached ₹58.30 crore, representing a 20.7% increase compared to the ₹48.29 crore reported in the same quarter last year. Standalone Net Profit for the quarter stood at ₹9.75 crore, while consolidated performance was slightly impacted by losses in subsidiaries totaling ₹0.91 crore. The company is also managing a legal dispute in Meghalaya involving ₹4.35 crore in receivables and investments.

Standalone Total Income grew 20.7% YoY to ₹58.30 crore from ₹48.29 crore in Q3 FY25.
Standalone Profit After Tax (PAT) for Q3 FY26 stood at ₹9.75 crore with an EPS of ₹1.25.
Consolidated subsidiaries contributed ₹2.83 crore in revenue but reported a net loss of ₹0.91 crore for the quarter.
Nine-month (9M FY26) standalone total income reached ₹163.30 crore compared to ₹143.30 crore in the previous year.
Management is monitoring a ₹4.35 crore dispute regarding a step-down subsidiary's operations in Meghalaya.

💡 The core standalone diagnostic business shows robust double-digit growth and healthy profitability. Investors should monitor the turnaround of loss-making subsidiaries and the resolution of the Meghalaya legal dispute which involves significant receivables.

Suraksha Diagnostic to Host Q3 & 9M FY26 Earnings Call on February 6, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 29 Jan 2026, 05:04 PM

Suraksha Diagnostic Limited has scheduled an earnings conference call for Friday, February 6, 2026, at 2:30 PM IST. The management will discuss the company's financial performance for the third quarter and nine months ended December 31, 2025. Key participants include the Chairman, Jt. Managing Director, CEO, and Group CFO. This routine disclosure allows investors to gain insights into the company's recent operational and financial trajectory.

Earnings call scheduled for February 6, 2026, at 2:30 PM IST to discuss Q3 & 9M FY26 results.
Management team including Dr. Somnath Chatterjee (Chairman) and Ms. Ritu Mittal (CEO) will be present.
Universal dial-in numbers for the call are +91 22 6280 1550 and +91 22 7115 8378.
Investor presentation for the period ended December 31, 2025, will be made available on the company website.
The call will be conducted through digital means and is open to analysts and institutional investors.

💡 Investors should monitor the call for management's commentary on volume growth and margin sustainability in the diagnostic sector. Review the Q3 FY26 financial results and investor presentation once released to assess the company's performance against peers.

Suraksha Diagnostic Announces Name Change of Statutory Auditor to M S K A & Associates LLP

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 16 Jan 2026, 05:10 PM

Suraksha Diagnostic Limited has notified the stock exchanges regarding a change in the name of its Statutory Auditor. The audit firm, M S K A & Associates, has converted into a Limited Liability Partnership (LLP) under the LLP Act, 2008. This change became effective on January 13, 2026, and the firm will now be known as M S K A & Associates LLP. The company has confirmed that this conversion will not affect the continuity or the scope of the ongoing audit assignment.

Statutory Auditor M S K A & Associates converted to M S K A & Associates LLP effective January 13, 2026
New ICAI Firm Registration Number is 105047W/W101187
The company confirms no impact on the continuity or scope of the audit assignment
The change is purely administrative due to the auditor's conversion into a Limited Liability Partnership

💡 No action is required from investors as this is a routine administrative update regarding the legal structure of the company's auditor.

Suraksha Diagnostic Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 10:53 AM

Suraksha Diagnostic Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, covers the period from October 1, 2025, to December 31, 2025. It confirms that no security certificates were received for dematerialization or rematerialization during this quarter. This is a standard administrative filing required to ensure the integrity of the company's shareholding records.

Compliance certificate submitted for the quarter and nine months ended December 31, 2025.
Registrar and Transfer Agent, KFin Technologies, confirmed zero dematerialization requests.
The filing was officially recorded with BSE and NSE on January 12, 2026.

💡 No action is required as this is a routine procedural filing with no impact on the company's financial performance or operations.

Suraksha Diagnostic: Analyst/Institutional Investor Meet on Dec 8 & 9, 2025

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 02 Dec 2025, 03:40 PM

Suraksha Diagnostic Limited has scheduled meetings with analysts and institutional investors. Investec Capital Services (India) Private Limited & Nuvama Wealth Management Limited will have a group/one-on-one meeting in Mumbai on December 8, 2025, from 11:30 am onwards. Further meetings are scheduled on December 9, 2025, from 08.45 am onwards. The discussions will be based on publicly available information, and no unpublished price-sensitive information will be shared. The schedule is subject to change due to exigencies.

Meeting with Investec Capital Services & Nuvama Wealth on December 8, 2025, from 11:30 am onwards
Meetings in Mumbai
Discussions based on publicly available information

💡 Investors can monitor the company's website for any updates on these meetings. Review publicly available information to understand the context of these discussions.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 15% YoY to INR 251.28 Cr in FY25 from INR 218.52 Cr in FY24. H1 FY26 revenue reached INR 151.43 Cr, an 18.5% increase over H1 FY25 revenue of INR 127.74 Cr, driven by pathology and radiology services.

Geographic Revenue Split

Revenue is highly concentrated in Eastern India, specifically West Bengal and neighboring states, which accounts for nearly 100% of total turnover.

Profitability Margins

EBITDA margin stood at 33.8% in FY25, slightly up from 33.7% in FY24. PAT margin was 12.3% in FY25 (INR 30.98 Cr) compared to 10.6% in FY24 (INR 23.13 Cr). H1 FY26 PAT margin was 11.9% (INR 18.00 Cr).

EBITDA Margin

EBITDA margin was 33.8% in FY25. For H1 FY26, the margin was 33.7%, a decrease from 36.3% in H1 FY25 due to new center expansion costs and a INR 4 Cr revenue impact from floods.

Capital Expenditure

Property, Plant and Equipment (PPE) stood at INR 147.14 Cr in FY25, up from INR 135.05 Cr in FY24. Capital work-in-progress was INR 10.10 Cr as of March 31, 2025.

Credit Rating & Borrowing

The company maintains a healthy financial risk profile with a gearing of 0.03 times and an interest coverage ratio of 9.34 times in fiscal 2025. Total debt was minimal at INR 5.83 Cr.

⚙️ Operational Drivers

Raw Materials

Reagents and consumables represent the primary raw material cost, totaling INR 28.95 Cr in FY25, which is 11.6% of total revenue.

Capacity Expansion

The company is on track to add 12 to 15 centers in FY26, representing a ~30% increase in store count. Currently, 33% of centers are immature, including 15 centers less than one year old.

Raw Material Costs

Cost of materials consumed was INR 28.95 Cr in FY25, up 6.7% from INR 27.13 Cr in FY24. Procurement is managed to support the Hub-and-Spoke model.

Manufacturing Efficiency

Operating leverage is expected to improve as 33% of currently immature centers scale toward optimal utilization.

Logistics & Distribution

Distribution involves sample collection and transport from spokes to hubs; majority of sales are on a cash basis, reducing credit risk.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth will be achieved by adding 12-15 new centers annually, scaling 15 existing centers that are less than one year old to reach maturity, and expanding into high-margin segments like Suraksha Genomics and prenatal care via the Fetomat acquisition.

Products & Services

Pathology tests, Radiology services (CT scans, MRI), Genomics, Molecular testing, and Prenatal care.

Brand Portfolio

Suraksha Diagnostic, Suraksha Genomics, Fetomat.

New Products/Services

Launched Suraksha Genomics in Q2 FY26 to provide advanced genetic and molecular testing services.

Market Expansion

Targeting 12-15 new centers in FY26 to deepen dominance in the Eastern India market.

Market Share & Ranking

Established market leader in Eastern India, particularly West Bengal.

Strategic Alliances

Recent acquisition of Fetomat to strengthen the Genomics and prenatal care division.

🌍 External Factors

Industry Trends

The diagnostic industry is shifting toward organized players and specialized testing like Genomics. Suraksha is positioning itself for this shift by launching a dedicated Genomics division.

Competitive Landscape

Intense competition from large pan-India players and several smaller regional players in West Bengal.

Competitive Moat

Moat is built on the Hub-and-Spoke model efficiency and deep regional brand equity in West Bengal, which are sustainable due to high entry barriers in radiology and specialized pathology.

Macro Economic Sensitivity

Sensitive to regional weather patterns (floods) and the timing of festivities which can shift demand by 3-4% in a quarter.

Consumer Behavior

Increasing consumer demand for advanced genetic testing and home collection services.

Geopolitical Risks

Low risk as a domestic service provider, though equipment imports may be subject to trade policies.

⚖️ Regulatory & Governance

Industry Regulations

Subject to Companies Act 2013 and diagnostic standards. Auditors noted that the audit trail (edit log) facility was not enabled throughout FY25, a regulatory non-compliance.

Taxation Policy Impact

Effective tax rate was approximately 23.7% in FY25, with a total tax expense of INR 10.42 Cr on PBT of INR 43.86 Cr.

Legal Contingencies

The company has disclosed the impact of pending litigations in Note 39 of its financial statements; specific INR values for these contingencies were not provided in the snippets.