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Vijaya Diagnostic Centre Ltd (VIJAYA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543350 NSE: VIJAYA Hospital & Healthcare Services | Small Cap | Vijaya Diagnostic Share Price
₹1,513.20 15.95 (1.07%)
As on 02-Sep'26 10:21
Vijaya Diagnostic Centre Ltd (VIJAYA)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543350 NSE: VIJAYA Hospital & Healthcare Services | Small Cap | Vijaya Diagnostic Share Price
₹1,513.20 15.95 (1.07%)
As on 02-Sep'26 10:21
Key Metrics
Valuation Multiples
Market Cap
₹15,421 Cr.
Current Price
₹1,513.2
52-Week Low / High
₹848 / 1,546
TTM EPS
₹18.2
TTM Sales
₹857 Cr.
Book Value per Share
₹97.8
P/E Ratio
82.25
Higher than its 5-year historical median
Industry PE
100.3
Price to Book (P/B)
15.31
Higher than its 5-year historical median
Price to Sales (P/S)
17.99
Higher than its 5-year historical median
EV/EBITDA
40.00
Higher than its 5-year historical median
Dividend Yield
0.13%
Profitability Efficiency
Return on Equity (ROE)
19.91%
Outperforms industry median
Return on Capital Employed (ROCE)
30.28%
Outperforms industry median
Return on Assets (ROA)
12.44%
Operating Profit Margin
41.4%
Net Profit Margin
21.24%
Gross Profit Margin
39.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
19.49%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
23.32%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
20.3%
Asset Quality
Promoter Holding
52.51%
Pledged shares (%) of Promoter's holding (%)
1.96%
Reserves
₹997 Cr.
Equity
₹10.3 Cr.
Face Value
₹1
All Time Low / High
₹292.00 / 1545.55
Check Before You Invest
Quality
Very GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Strong
Is Vijaya Diagnostic Centre Ltd a good quality company?
Vijaya Diagnostic Centre Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Vijaya Diagnostic Centre Ltd performance compare with that of its Peers?
Revenue growth of Vijaya Diagnostic Centre Ltd vs industry peers?
Vijaya Diagnostic Centre Ltd revenue CAGR is 16.66%, compared to the industry median CAGR of 3.54%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Vijaya Diagnostic Centre Ltd?
Promoters hold 52.51% of the Vijaya Diagnostic Centre Ltd, with 1.96% of their stake pledged, indicating low pledge risk.
Stock return of Vijaya Diagnostic Centre Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 43.77% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Vijaya Diagnostic Centre Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0% | 0% | 31.6% | 35.5% | 38% | 39.4% | 26.5% | 30.4% | 30.2% | 30.3% | - |
| Value Creation Index ⓘ | NA | NA | 1.3 | 1.6 | 1.8 | 1.8 | 0.9 | 1.3 | 1.2 | 1.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 0 | 0 | 293 | 339 | 377 | 462 | 459 | 548 | 681 | 814 | 857 |
| Sales YoY Gr. | - | NA | NA | 15.8% | 11.2% | 22.7% | -0.7% | 19.3% | 24.4% | 19.5% | - |
| Adj EPS ⓘ | 0 | 0 | 4.5 | 6 | 8.3 | 10.7 | 8.3 | 11.8 | 14.1 | 16.6 | 18.2 |
| YoY Gr. | - | NA | NA | 34.2% | 37.6% | 29.5% | -22.6% | 42.7% | 18.9% | 18.2% | - |
| BVPS (₹) ⓘ | 0 | 0 | 20.1 | 26.9 | 35.1 | 45.7 | 53.2 | 64.1 | 76.3 | 92.7 | 97.8 |
| Adj Net Profit ⓘ | 0 | 0 | 45.6 | 61.3 | 84.4 | 109 | 84.6 | 121 | 144 | 171 | 187 |
| Cash Flow from Ops. ⓘ | 0 | 0 | 90.5 | 106 | 130 | 158 | 165 | 183 | 224 | 271 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0.5 | 0.3 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 16.7% | 21% | 19.5% | ||||
| Adj EPS ⓘ | NA | 15% | 26.1% | 18.2% | ||||
| BVPSⓘ | NA | 21.4% | 20.4% | 21.6% | ||||
| Share Price | - | - | 44.2% | 46.7% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0 | 0 | 22 | 25.4 | 26.6 | 26.4 | 16.7 | 20.2 | 19.8 | 19.5 | 19.1 |
| Op. Profit Mgn % ⓘ | 0 | 0 | 37 | 39.1 | 44.1 | 44.1 | 39.6 | 40.3 | 40.1 | 41.4 | 42.2 |
| Net Profit Mgn % ⓘ | 0 | 0 | 15.7 | 18.1 | 22.6 | 23.8 | 18.5 | 22.3 | 21.2 | 21 | 21.9 |
| Debt to Equity ⓘ | 0 | 0 | 0.2 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 0 | 0 | 26 | 30 | 35 | 36 | 28 | 41 | 51 | 69 |
| Cash Conv. Cycle ⓘ | 0 | 0 | 0 | -32 | -31 | -25 | -27 | -30 | -26 | -23 | 38 |
Valuation of Vijaya Diagnostic - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.48 | 1.48 | 1.96 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|
| Sales | 293 | 339 | 377 | 462 | 459 | 548 | 681 | 814 |
| Operating Expenses ⓘ + | 184 | 206 | 211 | 259 | 277 | 330 | 408 | 477 |
| Operating Profit ⓘ | 108 | 133 | 166 | 204 | 182 | 218 | 273 | 337 |
| Operating Profit Margin (%) | 37.0% | 39.1% | 44.1% | 44.1% | 39.6% | 39.7% | 40.1% | 41.4% |
| Other Income ⓘ + | 10 | 15 | 12 | 13 | 14 | 24 | 18 | 21 |
| Interest ⓘ | 14 | 15 | 15 | 16 | 21 | 24 | 27 | 33 |
| Depreciation ⓘ | 40 | 49 | 50 | 53 | 62 | 57 | 71 | 92 |
| Profit Before Tax ⓘ | 65 | 83 | 112 | 147 | 114 | 159 | 193 | 233 |
| Tax ⓘ | 19 | 21 | 27 | 37 | 28 | 39 | 49 | 60 |
| Profit After Tax | 46 | 63 | 85 | 111 | 85 | 120 | 144 | 173 |
| PAT Margin (%) | 15.8% | 18.5% | 22.6% | 23.9% | 18.6% | 21.8% | 21.1% | 21.2% |
| Adjusted EPS (₹) | 4.5 | 6.1 | 8.3 | 10.8 | 8.3 | 11.6 | 14.0 | 16.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 9.30% | 12.10% | 8.60% | 14.30% | 11.90% |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 207 | 275 | 358 | 466 | 543 | 656 | 783 | 954 | |||
| Debt + | 33 | 23 | 4 | 1 | 0 | 0 | 0 | 0 | |||
| Minority Interest | -0 | -0 | 0 | 1 | 2 | 3 | 0 | 0 | |||
| Trade Payables | 22 | 22 | 22 | 22 | 28 | 33 | 33 | 38 | |||
| Others Liabilities ⓘ | 143 | 161 | 150 | 215 | 273 | 288 | 457 | 515 | |||
| Total Liabilities ⓘ | 405 | 481 | 535 | 705 | 845 | 980 | 1,274 | 1,507 | |||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 259 | 272 | 268 | 370 | 524 | 742 | 865 | 1,069 | |||
| CWIP ⓘ | 3 | 10 | 9 | 34 | 28 | 9 | 70 | 35 | |||
| Investments ⓘ | 69 | 55 | 28 | 54 | 139 | 109 | 185 | 228 | |||
| Inventories | 2 | 3 | 3 | 4 | 2 | 5 | 5 | 5 | |||
| Trade Receivables | 9 | 8 | 7 | 10 | 9 | 16 | 15 | 21 | |||
| Cash Equivalents | 53 | 118 | 194 | 192 | 116 | 73 | 49 | 53 | |||
| Others Assets ⓘ | 10 | 16 | 27 | 39 | 27 | 25 | 85 | 96 | |||
| Total Assets ⓘ | 405 | 481 | 535 | 705 | 845 | 980 | 1,274 | 1,507 | |||
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 91 | 106 | 130 | 158 | 165 | 183 | 224 | 271 |
| Cash Flow From Investing Activity ⓘ + | -90 | -31 | -130 | -123 | -110 | -142 | -182 | -174 |
| Cash Flow From Financing Activity ⓘ + | -7 | -30 | -49 | -31 | -42 | -45 | -52 | -69 |
| Net Cash Flow ⓘ | -6 | 46 | -49 | 4 | 13 | -4 | -9 | 27 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 22.58 | 26.07 | 26.91 | 26.85 | 16.89 | 19.96 | 19.99 | 19.91 | ||
| ROCE (%) | 31.56 | 35.47 | 37.97 | 39.37 | 26.53 | 30.4 | 30.2 | 30.28 | ||
| Asset Turnover Ratio | 0.72 | 0.76 | 0.74 | 0.75 | 0.59 | 0.6 | 0.6 | 0.59 | ||
| PAT to CFO Conversion(x) | 1.98 | 1.68 | 1.53 | 1.42 | 1.94 | 1.53 | 1.56 | 1.57 | ||
| Working Capital Days | ||||||||||
| Receivable Days | 11.40 | 9.20 | 7.10 | 6.50 | 7.70 | 8.60 | 8.30 | 8 | ||
| Inventory Days | 2.70 | 2.70 | 2.60 | 2.70 | 2.50 | 2.40 | 2.70 | 2.20 | ||
| Payable Days | 196.20 | 180.60 | 140.20 | 111.80 | 153 | 169.20 | 142.30 | 136.30 | ||
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Vijaya Diagnostic Centre Ltd FAQs
The current trading price of Vijaya Diagnostic on 02-Sep-2026 10:21 is ₹1,513.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Sep-2026 the market cap of Vijaya Diagnostic stood at ₹15,421.3 Cr
The latest P/E ratio of Vijaya Diagnostic as of 01-Sep-2026 is 80.02.
The latest P/B ratio of Vijaya Diagnostic as of 01-Sep-2026 is 15.52.
The 52-week high of Vijaya Diagnostic is ₹1,545.6 and the 52-week low is ₹847.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vijaya Diagnostic is ₹807 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Vijaya Diagnostic Centre Ltd is a good quality company.
The key valuation ratios of Vijaya Diagnostic Centre Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Vijaya Diagnostic Centre Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Vijaya Diagnostic Centre Ltd
Vijaya Diagnostic Centre is India’s largest B2C-focused integrated diagnostic chain. Headquartered in Hyderabad and established in 1981, the company plays a central role in enabling better health outcomes through quality-led diagnostic services. It brings together radiology and pathology under a single platform, offering patients and clinicians a seamless diagnostic experience across all major testing categories.
The company operates on a hub-and-spoke model that supports both scale and service depth. Its presence spans many cities across Andhra Pradesh, Telangana, West Bengal, Maharashtra, Karnataka and the National Capital Region. The network continues to grow, with increasing reach in large metro markets such as Bengaluru and Pune, alongside continued density in its core Southern base. This integrated approach allows the company to offer a consistent service experience across locations, backed by centralised processing and quality assurance.
The company has consistently invested in advanced diagnostic infrastructure, digital tools and trained professionals to improve accuracy and turnaround times. With a strong emphasis on clinical excellence and patient convenience, the company continues to serve as a trusted diagnostics partner to both individuals and clinicians across India.
Business area of the company
Vijaya Diagnostic Centre is India’s largest B2C-focused integrated diagnostic chain, providing a comprehensive range of radiology and pathology tests with a focus on delivering high-quality services at affordable prices. It in-houses best-in-class equipment, along with specialized and superspecialized radiologists and pathologists to ensure high-quality reporting with quick turnaround times across tests, enabling clinicians in providing efficient and accurate treatment.
Services
- Clinical Pathology
- Microbiology
- Hematology
- Serology
- Histopathology
- Cytogenetics
- Biochemistry diagnostic testing
- Molecular diagnostics
- CT scan
- Magnetic Resonance Imaging (MRI)
- Ultrasound scan
- X-rays
- Cardiology
- Gastroenterology
- Nuclear medicine
- Positron Emission Tomography (PET) scan
- 3 Tesla MRI
Awards, accreditations and recognitions
- 2012: The company was recognised as one of the Best Imaging Centres in Hyderabad the Week- Hansa Research national survey 2012.
- 2018: The company was awarded the Healthcare Leadership Award at the Telangana Healthcare Leadership Award 2018.
- 2018: The Company was awarded the Fastest Growing Brand (Pride of the Nation) 2018-2019 by United Research Services.
- 2018: The company’s centre at Gurgaon received the ISO 15189:2012 “Medical Laboratories - Requirements for quality and competence” for its facilities in the field of medical testing by NABL.
- 2019: The company was awarded the Best Diagnostic Centre of the Year, India - 2019 by the Times Healthcare Achievers, The Times of India.
- 2019: The company was awarded the Best Diagnostic Service Provider of the Year - 2019 at the Six Sigma Healthcare Excellence Awards, 2019.
- 2019: The company’s centre at Hanamkonda received the ISO 15189:2012 “Medical Laboratories - Requirements for quality and competence” for its facilities in the field of medical testing by NABL.
- 2019: The company’s centre at Kukatpally received scope of accreditation from NABH.
- 2020: The Company was awarded the Most Trusted and Best Quality Diagnostic Services in India - 2020 at the COVID Warriors Awards, 2020 by Topgallant Media.
- 2020: The company’s centre at Himayatnagar received the ISO 15189:2012 “Medical Laboratories - Requirements for quality and competence” for its facilities in the field of medical testing by NABL.
- 2020: The company’s centre at Sarojini Devi Road received scope of accreditation from NABH.
- 2020: The company’s centre at Habsiguda received the ISO 15189:2012 by NABL.
- 2021: The company has received the ‘Award of Excellence’ as the leading Imaging Centre (Multiple City) at the Radiology and Imaging Excellence Awards, 2021.
- 2021: The company was awarded the Award of Excellence for leading from the front during the pandemic under the Leading Diagnostic Chain of the Year by Elets Technomedia.
- 2021: The company received the certificate of recognition from the Economic Times as one of the Best Healthcare Brands -2021.
- 2022: Best Healthcare Brands’ awarded by Economic Times - 2022.
- 2023: Best Healthcare Brands’ awarded by Economic Times - 2023.
- 2024: Fastest Growing Leaders 2023- 24 awarded at Asian business & Social Forum 2024, Dubai.
- 2024: Fastest Growing Brands 2023- 24 awarded at Asian business & Social Forum 2024, Dubai.
- 2024: Icon in Integrated Diagnostic Services by Times Health Excellence 2024 - Telangana & Andhra Pradesh.
- 2025: Most Preferred Workplace for Women 2024 - 25 recognized by Marksmen Daily.
- 2025: Most Trusted Brand of India 2024-25 awarded by Marksmen Daily - 4th edition.
- 2025: Best Heathcare Brand 2025 - ET Now.
Major events and milestones
- 1981: Establishment of Vijaya Diagnostic Centre in Hyderabad.
- 1986: Introduction of Ultrasound & Echocardiography.
- 1986: Pioneering advanced diagnostic technologies in South India.
- 1993: Implementation of Fourth Generation CT Scan.
- 1994: Introduction of Mammography.
- 1999: Addition of Bone Densitometry.
- 2000: Introduction of Real Time RT-PCR Assays & Flow Cytometry.
- 2003: Implementation of Automated Microbiology Culture.
- 2006: Introduction of Hawkeye Gamma Camera with SPECT.
- 2007: Addition of Cardiac CT & 3.0 Tesla MRI.
- 2008: First independent diagnostic centre in South India to offer PET CT.
- 2009: Introduction of HPV-DNA HC2 test in South India.
- 2011: First to offer Automated TB identification & Sensitivity in South India.
- 2012: Introduction of Liquid Based Cytology (Thin Prep) in Andhra Pradesh.
- 2013: Implementation of Iris iQ200 Automated Urine Analyzer with Microscopy.
- 2016: First independent centre in Telangana to get Revolution ACT 50 slice CT.
- 2017: Introduction of Droplet Digital PCR (ddPCR) & Advanced PET CT.
- 2019: Implementation of USG-ECHO for Cardiology & Advanced CBCT.
- 2019: Introduction of 3D Mammography with Advanced Technology.
- 2020: Commencement of COVID testing by RT-PCR in Telangana & AP.
- 2021: Implementation of Philips DS Achieva with Ambient Experience.
- 2022: Introduction of ‘Walk-in Walk-out Dual source CT’ and ‘BioMatrix 3T’.
- 2023: Acquisition of PH Diagnostic Centre Private Limited, marking entry into Western India.
- 2024: Inauguration of first Vijaya-branded hub in North Kolkata, expanding footprint in Eastern India.
- 2025: Vijaya took a significant step by launching two centres in Bengaluru, marking its entry into the high-potential Karnataka market.
- 2025: Received exchange approvals to proceed with the merger of Medinova Diagnostic Services, a move that will further strengthen its back-end capacity and network efficiency.
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