Molbio Diagnostics Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Molbio Diagnostics Ltd filed with BSE on 12 Sept 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
Molbio Diagnostics reported consolidated Q1 FY27 revenue from operations of ₹408 crores, EBITDA of ₹104 crores at a 25% margin, and profit after tax of ₹52.7 crores. Management said the company sold 164 devices and 62.4 lakh kits during the quarter, with export revenue of around ₹67 crores including a catch-up of deferrals from Q4 FY26 due to the situation in the Gulf. Management also discussed R&D investment, capacity utilization, the OptraScan and Prognosys subsidiaries, and provided full-year revenue and EBITDA guidance for FY27.
Numbers mentioned
Revenue from operations: ₹408 crores (Q1 FY27)
p. 9
“we delivered a revenue from operations of ₹408 crores in Q1”
Manan Khokhani, page 9 of the filed PDF · View the filing
Devices sold: 164 (Q1 FY27)
p. 9
“We sold 164 devices and 62.4 lakh kits in Q1 FY27.”
Manan Khokhani, page 9 of the filed PDF · View the filing
Export revenue: ₹67 crores, 16% of total revenue (Q1 FY27)
p. 9
“Export revenue was around ₹67 crores or 16% of our total revenue from operations in Q1 FY27, which included a catch-up of some of the deferrals which happened in Q4 FY26 due to the situation in Gulf.”
Manan Khokhani, page 9 of the filed PDF · View the filing
EBITDA: ₹104 crores, 25% margin (Q1 FY27)
p. 9
“Our EBITDA was ₹104 crores, which represents a margin of 25% of our revenues.”
Manan Khokhani, page 9 of the filed PDF · View the filing
Profit after tax: ₹52.7 crores, ~13% of revenue (Q1 FY27)
p. 9
“Our profit after tax was ₹52.7 crores, which is roughly 13% of our revenue from operations.”
Manan Khokhani, page 9 of the filed PDF · View the filing
Trailing 12-month receivable days: 87 days (June 2026)
p. 9
“Our trailing 12-month receivable days are 87 days in June versus 86 days in March, and our trailing 12-month inventory days are 230 days in June versus 280 days in March.”
Manan Khokhani, page 9 of the filed PDF · View the filing
R&D investment: ₹2.16 billion (last 3 years)
p. 4
“the annual R&D investment has increased from ₹598 million in FY24 to more than ₹2.16 billion over the last 3 years”
Chandrasekhar Nair, page 4 of the filed PDF · View the filing
Truenat machines installed globally: 12,500+
p. 4
“globally, we have about 12,500 machines in 90-plus countries”
Sriram Natarajan, page 4 of the filed PDF · View the filing
Capacity utilization - test kits: 58%
p. 6
“currently we are operating at about 58% on test kits and about 42% for devices”
Indraneil Borkakoty, page 6 of the filed PDF · View the filing
Prognosys revenue: ₹154 crores (FY26)
p. 14
“last year, Prognosys delivered ₹154 crores revenue and roughly 12 crores of PAT”
Manan Khokhani, page 14 of the filed PDF · View the filing
OptraScan loss: ₹9-odd crores (Q1 FY27)
p. 14
“this year first quarter as well as last year, they were there for five months, it's close to ₹9-odd crores loss for the business”
Manan Khokhani, page 14 of the filed PDF · View the filing
Molbio standalone revenue: ₹399 crores (Q1 FY27)
p. 14
“For the current quarter, ₹399 crores is coming from Molbio, around ₹11-odd crores coming from Prognosys, OptraScan is minuscule.”
Manan Khokhani, page 14 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.
Revenue growth (top line) — roughly 25% · FY27
stated firmly by Indraneil Borkakoty
p. 10
“we are looking to grow this year in terms of our top line at roughly about 25%, and we're looking to deliver an EBITDA of about 24% to 25%”
Indraneil Borkakoty, page 10 of the filed PDF · View the filing
EBITDA margin — 24% to 25% · FY27
stated firmly by Indraneil Borkakoty
p. 10
“we're looking to deliver an EBITDA of about 24% to 25%”
Indraneil Borkakoty, page 10 of the filed PDF · View the filing
OptraScan profitability — not profitable · FY27
stated firmly by Indraneil Borkakoty
p. 14
“OptraScan would not be profitable for FY27.”
Indraneil Borkakoty, page 14 of the filed PDF · View the filing
OptraScan contribution — meaningful contribution · FY28 and FY29
stated as an aspiration by Indraneil Borkakoty
p. 12
“going forward, '28 and '29 onwards, we should see meaningful contribution coming in from OptraScan”
Indraneil Borkakoty, page 12 of the filed PDF · View the filing
Device sales range — 2,200 to 2,600 devices · current year
stated conditionally by Indraneil Borkakoty
p. 14
“we see historically, they've always ranged between the 2,200 to 2,600 kind of a level, which is what we also expect for the current year”
Indraneil Borkakoty, page 14 of the filed PDF · View the filing
R&D spend as % of revenue — 5% to 6% of revenue
stated firmly by Manan Khokhani
p. 13
“we generally spend 5% to 6% of our revenue on R&D, and we'll continue to do the same”
Manan Khokhani, page 13 of the filed PDF · View the filing
Prognosys EBITDA margin — closer to about 19% EBITDA · FY27
stated conditionally by Indraneil Borkakoty
p. 14
“we expect that while Prognosys would deliver similar margins as full year last year, closer to about 19% EBITDA, OptraScan would not be profitable for FY27”
Indraneil Borkakoty, page 14 of the filed PDF · View the filing
TB rate contract — two-year rate contract · next two years
stated firmly by Sriram Natarajan
p. 19
“Right now, we have a two-year rate contract. This happened only last month. So, this contract is valid for two years now.”
Sriram Natarajan, page 19 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 said Truenat HPV validation was led by AIIMS and recommended to the government, with introduction expected soon but specific volumes still unclear.
Answered by Shiva Sriram
Asked by Tushar Manudhane: What is the progress on HPV tender/test kit off-take and expected volumes?
p. 10
“we should expect introduction into the program soon”
Shiva Sriram, page 10 of the filed PDF · View the filing
Management said conversations have started with large US laboratory chains and OptraScan is not expected to be profitable until FY28/29.
Answered by Sriram Natarajan
Asked by Tushar Manudhane: What is the status and commercialization timeline of OptraScan post US FDA approval?
p. 11
“conversations have already started with big chains of laboratories, and many demonstrations are happening”
Sriram Natarajan, page 11 of the filed PDF · View the filing
Management said devices have run for 6-7 years without replacement and consumables are proprietary to the Truenat device.
Answered by Shiva Sriram
Asked by Damayanti Kerai: What is the device life cycle and whether third-party consumables can be used?
p. 12
“we've not had to replace a single device yet”
Shiva Sriram, page 12 of the filed PDF · View the filing
Management gave quarter and full-year revenue breakdowns showing Prognosys contributing over 10% last year and OptraScan minuscule this quarter.
Answered by Manan Khokhani
Asked by Nikhil Mathur: What is the revenue split between Molbio, Prognosys, and OptraScan?
p. 14
“For the current quarter, ₹399 crores is coming from Molbio, around ₹11-odd crores coming from Prognosys, OptraScan is minuscule.”
Manan Khokhani, page 14 of the filed PDF · View the filing
Management said TB still has significant room to grow domestically and internationally, while other diseases like HPV and hepatitis will contribute meaningfully over 2-3 years.
Answered by Shiva Sriram
Asked by Nikhil Mathur: How will the test mix shift between public TB, other diseases, and exports?
p. 15
“there is still a very long pathway for growing the TB business itself”
Shiva Sriram, page 15 of the filed PDF · View the filing
Management said Truenat has penetrated only 8,000-9,000 of about 25,000-30,000 TB centers, leaving room for expansion by replacing microscopy.
Answered by Shiva Sriram
Asked by Anandha Padmanabhan: What is the visibility on government TB program funding and penetration?
p. 16
“today there are a total of about 25,000 to 30,000 TB diagnostic centers in the country. So far, there are we have reached only about 8,000 to 9,000 of those centers”
Shiva Sriram, page 16 of the filed PDF · View the filing
Management confirmed a two-year rate contract was recently signed.
Answered by Sriram Natarajan
Asked by Dhawal Khut: What is the current TB tendering cycle length and timing of next negotiation?
p. 19
“Right now, we have a two-year rate contract. This happened only last month. So, this contract is valid for two years now.”
Sriram Natarajan, page 19 of the filed PDF · View the filing
Risks flagged
Export revenue has been volatile due to deferrals and uneven country-level ramp-up
p. 18
“while in the past you've seen that there has been ups and downs, it's fundamentally because few countries started and then they picked up a little faster, and some countries were still dragging”
Sriram Natarajan, page 18 of the filed PDF · View the filing
OptraScan expected to remain unprofitable this year
p. 11
“We don't expect the company to turn profitable in FY ‘27.”
Indraneil Borkakoty, page 11 of the filed PDF · View the filing
Business is non-linear across quarters due to public health program dependency
p. 10
“It's not a quarter-on-quarter business because of the fact that we operate in public health, so no quarter is going to be linear, whether sequentially or year on year.”
Indraneil Borkakoty, page 10 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.