Krsnaa Diagnostics – what is the diagnosis?

Q1 FY25 Concall Highlights

• Revenue increased 22% from 129 cr to 170 cr

• EBITDA margins increased from 23% to 26%

• PAT increased from 14 cr to 18 cr

• Bid win ratio is 75%+

• Tender duration- Maharashtra (15 years), Odisha (12 years), Madhya Pradesh (12 years) and Assam (5 years)

• Mature centres- 3 to 5 years, New centres- 0 to 3 years

• Receivables- Absolute receivables was around 190 cr in Q1 and the receivable days was around 100 days. The company has seen a good recovery on receivables post elections. Krsnaa has also received 35-40 cr of receivables from Himachal Pradesh in July thus reducing the receivables by that amount

• Company aims to achieve 25% growth in FY25 (30% aspirational)