Vijaya Diagnostic Centre LtdNSE:VIJAYA
Current view Q4 2026
South-India diagnostics chain with an excellent, honest management team that consistently beats its own targets, high margins, and volume-led growth. The only worry is the pricey stock versus its sales and assets.
Latest exchange filings last 5 · 5 after Q4 2026
- 11 Sep ’26100% acquisition of integrated diagnostic business undertaking of Arya Wellness Centre, Guwahati, Assam. ↗
- 11 Sep ’26Vijaya Diagnostic to acquire Arya Wellness Centre, Guwahati, for ~₹46 crore; closure expected in three months. ↗
- 11 Sep ’26Board approved acquisition of Arya Wellness Centre diagnostic business for ₹46.20 crore, expanding Vijaya Diagnostic into Assam. ↗
- 2 Sep ’26Analyst/institutional investor meeting scheduled for 10 September 2026 at 11:00 a.m., hosted by Emkay Global. ↗
- 2 Sep ’26Dr. Venkata Naresh Yallapragada appointed Chief Information Officer effective September 2, 2026. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +26.6% | +6.8% | +21.0% | +16.6% |
| Operating profit | ▲ +39.1% | +11.6% | +22.2% | +15.0% |
| EPS | ▲ +37.1% | +10.9% | +26.6% | −2.0% |
| PAT | ▲ +37.1% | +11.6% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +26.6%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average62/100
Growing fast — and the market has noticed. Profit per share grew 27% a year, and buyers now pay more for each rupee of it than they did a year ago. Some of the re-pricing has already happened.
₹1,501 → ₹3,003 needs the P/E at 88× — it is 89× today, and has ranged 22× to 101× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 132× — never traded above 101× in 5 years.
At ₹1,040 the price-tag on its earnings reaches the 62× it is being projected toward — the point where being cheap against that yardstick is used up.
Re-rated already, on growth that doesn't fully back it.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mid-cap at ₹14,820 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 26.6% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 37%.
How it compares with its rivals Healthcare · 6 of 17 listed
It earns 21% on its capital, third of 6, and it is the second most expensive of the 6 shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Vijaya Diagnost. | ₹1,548 | 85.0× | ₹15,944 Cr | 20.5% | +37.6% | +22.8% |
| Dr Lal Pathlabs | ₹1,922 | 57.4× | ₹32,261 Cr | 28.0% | +28.0% | +19.1% |
| Metropolis Healt | ₹594 | 59.2× | ₹12,319 Cr | 17.8% | +25.8% | +16.6% |
| Thyrocare Tech. | ₹557 | 49.0× | ₹8,862 Cr | 35.4% | +34.1% | +24.3% |
| Nephrocare Health Services | ₹742 | 87.7× | ₹7,461 Cr | 15.3% | +34.9% | +23.7% |
| Suraksha Diagno. | ₹336 | 48.9× | ₹1,750 Cr | 17.3% | +38.4% | +20.8% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — a little wider than 3 years earlier | operating margin 40% → 43% over 3 years |
|---|---|---|
| Did the profit turn into cash? | most of it arrived as cash | 96% last year, 97% over three · free cash flow ₹91 cr, positive in 5 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹423 cr — 0.44× its own equity (was 0.40×) |
| Is it being collected? | collection is steady | 9 days to collect, up 1 in a year · cash cycle −117 days |
| Who has been buying? | the promoters have held steady | promoters 52.5% (−0.1 in a year), 54.9% → 52.5% over 2.8 years · FIIs 11.7% (−7.9) · DIIs 31.6% (+7.5) · shareholders 72,795 → 67,251 |
| What does it earn on its capital? | earns a high return on the capital it employs | ROCE 20.5% · ROE 18.3% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
Against it
- Stock is trading at 16.6 times its book value
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.