Krsnaa Diagnostics Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Krsnaa Diagnostics Ltd filed with BSE on 19 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Krsnaa Diagnostics reported Q1 FY27 revenue of INR2,355 million, up 22% year-on-year, with EBITDA margin at 25% compared to 27% in the prior-year quarter. Management attributed the margin compression to upfront manpower and logistics costs in the Rajasthan project ahead of full revenue realization, while stating the like-to-like business maintained stable margins. Retail business revenue grew 64% year-on-year to INR193 million, and the company was awarded a new Himachal Pradesh CT scan project covering 34 centers.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue from operations: INR2,355 million (Q1 FY27)
p. 8
“If I talk about revenue from operations for Q1 FY27, it stood at INR2,355 million against Q1 FY26 revenue of INR1,930 million, representing a year-on-year growth of 22%.”
Chandra Singh, page 8 of the filed PDF · View the filing
EBITDA: INR588 million (Q1 FY27)
p. 8
“EBITDA for the quarter stood at INR588 million with an EBITDA margin of 25% against 27% in Q1 FY26.”
Chandra Singh, page 8 of the filed PDF · View the filing
PAT: INR166 million (Q1 FY27)
p. 8
“PAT for the quarter stood at INR166 million, translating to a margin of 7%.”
Chandra Singh, page 8 of the filed PDF · View the filing
Retail revenue: INR193 million (Q1 FY27)
p. 8
“our retail revenue for the Q1 FY27 stood at INR193 million against revenue of INR118 million in quarter 1 FY'26, growing at impressive year-on-year growth rate of 64% and contributed approximately 9% of overall group revenue.”
Chandra Singh, page 8 of the filed PDF · View the filing
Revenue growth: 22% year-on-year (Q1 FY27)
p. 3
“Our revenue grew approximately 22% year-on-year in Q1.”
Yash Mutha, page 3 of the filed PDF · View the filing
Like-to-like project growth: approximately 12% (Q1 FY27)
p. 3
“More importantly, our like-to-like projects grew approximately 12%.”
Yash Mutha, page 3 of the filed PDF · View the filing
Retail business growth: approximately 64% year-on-year (Q1 FY27)
p. 4
“Our retail business grew approximately 64% year-on-year.”
Yash Mutha, page 4 of the filed PDF · View the filing
Rajasthan revenue: INR26 crores (Q1 FY27)
p. 9
“Rajasthan revenue, I think we have reported around INR26 crores.”
Yash Mutha, page 9 of the filed PDF · View the filing
Rajasthan network infrastructure: 31 Mother labs, 62 hub labs, 1,228 collection centers (Q1 FY27)
p. 6
“As of end of quarter 1 FY27, Rajasthan had 31 Mother labs, 62 hub labs and 1,228 collection centers are being operational and this significant milestone considering the sustainable future growth.”
Mitesh Dave, page 6 of the filed PDF · View the filing
NABH accreditations added: 12 new accreditations, total 124 (Q1 FY27)
p. 6
“in Q1, we added 12 new NABH Accreditations, taking our overall accreditation counts, including NABL, CAP and ACR to 124.”
Mitesh Dave, page 6 of the filed PDF · View the filing
Radiology-pathology revenue split: 41%, 59% (Q1 FY27)
p. 12
“It's 41, 59, sorry.”
Yash Mutha, page 12 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Rajasthan PPP full-year revenue — INR100 crores to INR150 crores · FY27
stated firmly by Yash Mutha
p. 9
“And from an annualized basis, I think even if you just multiply this by 4, what number we are expecting is about INR100 crores to INR150 crores of Rajasthan for the full year.”
Yash Mutha, page 9 of the filed PDF · View the filing
Rajasthan PPP steady-state revenue — 150 to 175 crores
stated as an aspiration by Mitesh Dave
p. 9
“And on a steady state, when we are looking at it, it would be somewhere closer to 150, 175.”
Mitesh Dave, page 9 of the filed PDF · View the filing
RPL EBITDA — EBITDA positive · Q2
stated firmly by Chandra Singh
p. 8
“we are confident of becoming EBITDA positive by Q2.”
Chandra Singh, page 8 of the filed PDF · View the filing
Overall company margins — double digits · end of the year
stated firmly by Yash Mutha
p. 16
“we expect the margins to come back to double digits at the end of the year as a whole.”
Yash Mutha, page 16 of the filed PDF · View the filing
Retail contribution to overall revenue — 10% to 15% · this financial year
stated as an aspiration by Mitesh Dave
p. 18
“Our contribution what we are looking to target this financial year is to be in the range of 10% to 15%.”
Mitesh Dave, page 18 of the filed PDF · View the filing
Karnataka receivables recovery — Q2
stated conditionally by Yash Mutha
p. 17
“we expect money to be collected by Q2.”
Yash Mutha, page 17 of the filed PDF · View the filing
MRI centers in Maharashtra go-live — balance centers operational · end of quarter 3
stated firmly by Mitesh Dave
p. 6
“Work on balance centers is in progress, and these are expected to go live by end of quarter 3.”
Mitesh Dave, page 6 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management explained the increase relates to revenue-sharing payments to local partners supporting the Rajasthan project operations.
Answered by Yash Mutha
Asked by Raman: Why did fees to hospital expense increase significantly this quarter?
p. 9
“the actual increase is on account of Rajasthan project. So for a project like Rajasthan or even other PPP projects, we have certain partners that we work in these remote locations.”
Yash Mutha, page 9 of the filed PDF · View the filing
Management clarified the lower figure is the conservative guidance, while the higher number remains an aspiration.
Answered by Yash Mutha
Asked by Raman: Is the earlier guidance of INR200-250 crores from Rajasthan PPP in FY27 still intact given the new lower figure of INR150 crores was mentioned?
p. 9
“As an aspiration, of course, we want to achieve the numbers that we stated earlier. But if I have to give a guidance, this is something that we have a clear visibility in terms of the revenues that I quoted earlier.”
Yash Mutha, page 9 of the filed PDF · View the filing
Management confirmed RPL remains at negative EBITDA in Q1 due to manpower deployment costs but expects it to reach breakeven by Q2.
Answered by Yash Mutha
Asked by Surya Narayan Patra: Is RPL still at negative EBITDA, and by how much has it improved?
p. 11
“RPL, it's currently in the quarter 1, it's at negative EBITDA level for reasons because we have deployed manpower.”
Yash Mutha, page 11 of the filed PDF · View the filing
Management attributed this to newly operationalized MRI centers not yet contributing full revenue and to some radiology projects completing their tenure.
Answered by Yash Mutha
Asked by Lokesh: Why has radiology revenue remained flat despite the expansion from 148 to 180 centers?
p. 12
“So we've not seen the full utilization or full revenue contribution from the MRI projects.”
Yash Mutha, page 12 of the filed PDF · View the filing
Management said Himachal Pradesh funds had started flowing while Karnataka recovery remained slower with ongoing government follow-up.
Answered by Yash Mutha
Asked by Pooja Sanghvi: What is the status of receivables from Himachal Pradesh and Karnataka?
p. 13
“on Karnataka, we have received -- the money has started flowing in. There's also approval that we sighted where the state government has approved certain funds and money has started flowing in. Karnataka, it's still not to the expectation that we have.”
Yash Mutha, page 13 of the filed PDF · View the filing
Risks flagged
Margin compression from front-loaded capital expenditure and fixed costs on new projects before full utilization
p. 4
“due to the project implementations, they also carry their full fixed cost base from the very first day in laboratory equipment, the manpower and the logistics, while still operating below mature utilization levels”
Yash Mutha, page 4 of the filed PDF · View the filing
Upfront manpower costs in Rajasthan ahead of full revenue realization
p. 8
“this quarter did carry an element of upfront cost, largely around 4,000 manpower onboarded in Rajasthan logistics across collection center ahead of full revenue realization from the project.”
Chandra Singh, page 8 of the filed PDF · View the filing
Delayed receivables collection from Himachal Pradesh, Karnataka and Maharashtra state governments
p. 17
“apart from if you see HP, Karnataka and a bit of Maharashtra, all other projects are on track in terms of receiving except for these 3 states where the teams are working ferociously to recover the money that is due from the government.”
Yash Mutha, page 17 of the filed PDF · View the filing
RPL retail business operating at negative EBITDA due to ground fleet deployment costs
p. 11
“we have to deploy the ground fleet and that is some of the costs.”
Yash Mutha, page 11 of the filed PDF · View the filing
Loss of some radiology projects that completed their tenure impacting revenue
p. 12
“There was also the overall, if you see some of the radiology projects that we lost in the last quarter, they completed their tenure.”
Yash Mutha, page 12 of the filed PDF · View the filing
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