3B BlackBio Dx Ltd Q2FY26: DNA, Diagnostics & Drama – The PCR Powerhouse That Turned a ₹2-Crore Agro Shop into a ₹1,100-Crore Biotech Beast

1. At a Glance

From a fertilizer tender trader to a molecular diagnostics disruptor — 3B BlackBio Dx Ltd is the kind of glow-up Bollywood dreams are made of. Born out of an Indo-Spanish joint venture and a successful amalgamation with Kilpest India Ltd, the company now straddles two bizarrely different worlds: PCR-based molecular testing kits and biofertilizers. Imagine a company that makes COVID test kits on weekdays and larvicides on weekends — that’s 3B for you.

At amarket cap of ₹1,125 crore, trading at ₹1,311 per share (as of Nov 20, 2025), this biotech baby packs a mean punch withROCE of 25.8%andROE of 19.4%. Quarterly sales stand at ₹33.9 crore withPAT of ₹14.7 crore, maintaining margins so fat even Big Pharma would blush — anOPM of 47.6%to be precise. Despite a 22.8% fall over the past year, its DNA still screams resilience.

And as the Bhagavad Gita reminds us,“Karmanye vadhikaraste ma phaleshu kadachana”— focus on your duty, not the results. 3B BlackBio seems to have taken that literally: focus on PCR, ignore the price chart.

2. Introduction

You know a company’s serious when it can decode your genes and also kill your mosquitoes. 3B BlackBio Dx Ltd, formerly Kilpest India Ltd, pulled off one of the most radical makeovers in Indian smallcap history — from a sleepy agro-chemical business to a diagnostics powerhouse with international reach. The rebranding wasn’t cosmetic; it was cellular — quite literally.

While the diagnostic biggies like Dr Lal Pathlabs and Metropolis were busy sponsoring health checkup packages, 3B quietly builtPCR kitsandNGS-based diagnostic solutionsexported to 40+ countries. Their signature brandTRUPCR®is now a recognizable name in molecular testing circles, making them a quiet but credible contender in India’s biotech scene.

Their latest headline grabber? The acquisition ofCoris Holding SRL, a Belgian diagnostics firm, for about ₹30.87 crore — a deal that added an entire antimicrobial resistance diagnostics business to their already geeky portfolio. That’s the biotech equivalent of upgrading from a Maruti 800 to a Tesla.

And yet, this same company still sellsTemephos 50% EC— a humble larvicide. It’s like watching a scientist moonlight as a pest-control technician. A multiverse no one asked for, but here we are.

3. Business Model – WTF Do They Even Do?

If you tried explaining 3B BlackBio’s business model to your dadi, she’d probably say, “Beta, yeh company dawai bhi banati hai aur keede maarne ka chemical bhi?” Exactly.

Segment 1 – Diagnostics (81% of revenue)The star child. This segment handles PCR-based Molecular Diagnostic Kits, PCR Enzymes, Reagents, and even NGS (Next Generation Sequencing) test kits. Their brands —TRUPCR,TRUNGS, andTRURAPID— sound like a Marvel trilogy but actually detect infections, cancers, and genetic disorders. They’ve got products acrossOncology, Hematology, Antimicrobial Resistance, Infectious Diseases, and Human Genetics.

And they’re ISO 13485:2016 and GMP certified, meaning this isn’t your average jugaadu lab operation — it’s high-precision biotech, audited and approved.

Segment 2 – Agrochemicals (19% of revenue)This is the legacy arm — supplying micro-fertilizers, bio-fungicides, and insecticides (like the recent ₹1.59 crore export order for larvicideKilothus). Most of this happens viaGovernment e-tenders (GeM). It’s the steady but less glamorous cash cow, now overshadowed by the biotech big brother.

So yes, 3B BlackBio is a curious hybrid — a mad scientist who also tends to plants. But the numbers suggest that duality works: Diagnostics grow fast, agro keeps the lights on.

4. Financials Overview

Commentary:EPS annualized is ₹68.4, giving aP/E of ~19.1x, comfortably below the healthcare industry