I think the correct way in modelling Krsnaa’s B2G side is similar to an EPC business in terms of orders in – orders out.
| Order | Type | Value |
|---|---|---|
| FY22 Revenues | 455 Cr. | |
| Loss of 2022 Rajasthan Contract & Covid | -70 Cr. | |
| Punjab + Himachal IPO Project | X | |
| Tenders won in 2022 | ||
| Himachal Pradesh | Pathology | A |
| Chandigarh | Radiology | B |
| Uttar Pradesh | Radiology | C |
| Maharashtra | Radiology | D |
| Rajasthan | Radiology | E |
| New Delhi | Radiology | F |
| Tenders won in 2023 | ||
| Odisha | Pathology | G |
| Maharashtra BMC | Pathology | H |
| Rajasthan | Pathology | I |
| Tenders currently being evaluated | ||
| Rajasthan | Radiology | |
| Andhra Pradesh | Teleradiology | |
| Punjab | Teleradiology | |
| West Bengal | Radiology | |
| Madhya Pradesh | Radiology | |
| Assam | Pathology | |
| Haryana | Radiology | |
| Expiry of other tenders | Z |
I am biased, so I leave it to the reader to think about the value of these tenders from your own scuttlebutt and estimates, which tenders are likely to be more successful to ramp up/execute than others, and when each is expected to go onstream.
In my opinion, Krsnaa can do 700-800 Cr. of revenues without the Rajasthan tender, and without winning any additional tenders going forward.
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