NSEAnalysts/Institutional Investor Meet/Con. Call Updates2d ago · 7 Nov 2026, 07:16 pm
Analysts/Institutional Investor Meet/Con. Call Updates
Krsnaa Diagnostics Limited · KRSNAA
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Krsnaa Diagnostics Limited has announced its Q2 & H1 FY27 Earnings Conference Call, with the company crossing INR500 crores in revenue for the first time. The company achieved a 27% year-on-year growth, with a potential 37% growth had certain contracts continued. The management team discussed the key operating and financial highlights for the quarter and half year ended September 30, 2026.
Analysis Scores
Earnings Impact8/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk4/10
Liquidity Impact9/10
Market Sentiment8/10
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Krsnaa Diagnostics Limited has informed the Exchange about Transcript
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Date: November 07, 2026
Ref. No.: KDL/SE/069/2026-27
To, To,
BSE Limited National Stock Exchange of India Limited
Corporate Relationship Department Exchange Plaza, Plot No. C-1, Block G,
25th Floor, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (East)
Dalal Street, Mumbai- 400001 Mumbai – 400051
Scrip Code: 543328 NSE Symbol: KRSNAA
Dear Sir/Madam,
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements)
Regulations, 2015 for Transcript of Earnings Call for quarter and half year ended September 30, 2026.
Pursuant to the Regulation 30 and 46 read with clause 15 of Para A of Part A of Schedule III of the
Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations,
2015, please find enclosed the transcript of the earnings conference call held with the analysts and
investors on Tuesday, November 03, 2026 at 12:30 Hrs. (IST) to discuss the Unaudited (Standalone and
Consolidated) Financial Results for the quarter and half year ended September 30, 2026.
The above information will also be made available on the website of the Company at
https://krsnaadiagnostics.com/investors.
Request you to take the same on your records.
Thanking you,
Yours sincerely,
For Krsnaa Diagnostics Limited
Sujoy Sudipta Bose
Company Secretary & Compliance Officer
Encl: as above
“Krsnaa Diagnostics Limited
Q2 & H1 FY27 Earnings Conference Call”
November 03, 2026
MANAGEMENT: MR. RAJENDRA MUTHA – CHAIRMAN AND WHOLE
TIME DIRECTOR – KRSNAA DIAGNOSTICS LIMITED
MR. YASH MUTHA – MANAGING DIRECTOR - KRSNAA
DIAGNOSTICS LIMITED
MR. MITESH DAVE – GROUP CHIEF EXECUTIVE
OFFICER – KRSNAA DIAGNOSTICS LIMITED
MR. CHANDRA PRAKASH – INTERIM CHIEF FINANCIAL
OFFICER – KRSNAA DIAGNOSTICS LIMITED
MR. SUJOY BOSE – HEAD SECRETARIAL LEGAL AND
COMPLIANCE – KRSNAA DIAGNOSTICS LIMITED
MODERATOR: MS. SHRUTI VASANI – STELLAR INVESTOR RELATIONS
Page 1 of 14
Krsnaa Diagnostics Limited
November 03, 2026
Moderator: Ladies and gentlemen, good day and welcome to Q2 and H1 FY27 Earnings Conference Call of
Krsnaa Diagnostics. As a reminder, all participant lines will be in the listen-only mode and there
will be an opportunity for you to ask questions after the presentation concludes. Should you need
assistance during the conference call, please signal an operator by pressing star then zero on
your touchtone phone. Please note that this conference is being recorded. I now hand the
conference over to Ms. Shruti from Stellar Investor Relations. Thank you, and over to you, Ms.
Shruti.
Shruti Vasani: Thank you. Good afternoon, everyone and thank you for joining us today for the Q2 and H1
FY27 Earnings call. We have with us the senior management team of Krsnaa Diagnostics
Limited represented by Mr. Rajendra Mutha, Chairman and Whole-Time Director; Mr. Yash
Mutha, Managing Director; Mr. Mitesh Dave, Group Chief Executive Officer; Mr. Chandra
Prakash, Interim Chief Financial Officer and Mr. Sujoy Bose, Head, Secretarial, Legal and
Compliance.
The management will be sharing the key operating and financial highlights for the quarter and
half year ended September 30, 2026, followed by a question-and-answer session. Before we
proceed with this call, I would like to mention that some of the statements made in today's call
may be forward-looking in nature and may involve risks and uncertainties.
The company also undertakes no obligation to update any forward-looking statements to reflect
developments that occur after the statement is made. Documents relating to the company's
financial performance, including the investor presentation have been uploaded on the stock
exchanges and the company's website. Trust you have been able to go through the same. With
this, I now hand over the call to Mr. Yash. Thank you, and over to you, sir.
Yash Mutha: Thank you, Shruti. Good afternoon, everyone, and thank you for joining us today. I would like
to begin with an important milestone in Krsnaa's journey. For the first time, Krsnaa Diagnostics
has crossed INR500 crores in revenue in the last 6 months, achieving INR507 crores in H1 FY
'27.
Despite the natural completion of certain contracts, Krsnaa has delivered an impressive 27%
year-on-year growth. Had some of these contracts continued, our year growth would have been
around 37%. This demonstrates the strength of our execution and more importantly, our ability
to consistently create new growth opportunities that more than compensate for contracts
completing their tenure.
For me, this milestone is not simply about crossing a financial number. It reflects the journey
we have undertaken, the business we have built and the conviction with which we continue to
move forward. Since our listing in 2021, in the last 5 years, Krsnaa has grown continuously,
expanded its presence and strengthened its position in India's diagnostic sector.
And we have achieved this despite the natural life cycle of our business wherein certain
government contracts complete their tenure, projects transition and new opportunities emerge.
Page 2 of 14
Krsnaa Diagnostics Limited
November 03, 2026
We've always believed that individual tenders do not define Krsnaa's growth. What defines us
is our ability to continue grow beyond the life cycle of any single contract.
Contracts will come in, mature and eventually conclude and new opportunities will emerge. That
is the nature of our PPP business, but the infrastructure that we have built, the experience we
have gained, the technology we have developed and the trust we have earned do not disappear
with the completion of a particular contract.
They became the foundation for our next opportunity. And I believe our performance over the
years is a reflection of precisely that. We have been among the pioneers in successfully scaling
diagnostic services through the public-private partnership model in India. We've established
statewide diagnostic networks within government hospitals, including in some of the remotest
part of the country, where operating healthcare infrastructure is challenging and access to
specialized diagnostics has traditionally been limited.
And we have done this while offering services at substantially affordable prices, which are
significantly lower than the prevailing market rates. Think about this, what it means. We are
making advanced diagnostic services available to the patients who might otherwise have to
travel long distances, incur significantly lower than prevailing market rates -- sorry, incur
significantly out-of-pocket expenses or delay essential investigations.
We are bringing together 3 things that are often difficult to achieve simultaneously, accessibility,
affordability and internationally benchmarked quality. I believe very few companies in India
have built such an integrated platform at our scale. That is our differentiation, and that is what
gives me confidence in Krsnaa's long-term prospects.
Moving on, as I mentioned in our previous earnings call, the implementation of large projects,
particularly Rajasthan, could lead to some moderation in our EBITDA margins. However, I'm
pleased to mention that whilst we have seen this moderation, encouraged by the operating
efficiencies that our teams have achieved, we have helped contain the impact even as our revenue
base has expanded significantly.
During the first half alone, we have generated livelihood opportunities for approximately 5,000
local people to support our expanding operations, particularly in Rajasthan. This naturally had
an impact on our operating costs and our margins as the newly established networks continue to
ramp up.
What is encouraging is that despite the significant expansion in manpower and operations, we
have been able to maintain healthy EBITDA margins through better resource utilization, cost
discipline and operational efficiencies across our existing business. As the patient volume
increases and newer projects mature, we expect to drive greater operating leverage from this
expanded network.
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