🧠 At a glance:

Suraksha Diagnostic Ltd (CMP ₹336.55) reported a 34% jump in PAT for FY25, driven by a 15% revenue increase and stable EBITDA margins at 34%. But the real story? Their post-IPO debut year included an aggressive genomics entry via Fetomat acquisition, new center expansions, and resilience despite doctor strikes and international hiccups. Is this Kolkata-based diagnostic juggernaut quietly gearing up for a national-level play?

🔖 Title Tag:

Suraksha Diagnostic FY25 Results: 34% PAT Jump, Fetomat Genomic Push, Expansion Plan FY26

🧾 Meta Description:

Suraksha Diagnostic posted 34% PAT growth in FY25 with strong EBITDA. Read about their genomic medicine entry, expansion plans, and if this East India giant is ready to go national.

🧬 About the Company:

• Name: Suraksha Diagnostic Limited
• Headquarters: Kolkata, West Bengal
• Sector: Healthcare – Diagnostics (Pathology, Radiology, Consultations)
• Presence: West Bengal, Bihar, Assam, Meghalaya
• Network: NABL & NABH accredited labs, 7 new centers added in FY25
• Recent IPO: FY24
• New Business Angle: Genomic diagnostics via acquisition of Fetomat Wellness Pvt Ltd

🧑‍⚕️ Key Managerial Personnel (KMP):

• Ms. Ritu Mittal – Joint Managing Director & CEO
• Mamta Jain – Company Secretary & Compliance Officer

💰 Financials Snapshot (FY25 vs FY24):

📊 Q4 FY25 vs Q4 FY24:

🔬 Forward-Looking Fair Value (FV) Estimate

Using industry-average P/E of 45 (diagnostic sector), on FY25 EPS:

• FY25 EPS (approx): ₹8.62
• Fair Value Estimate: ₹8.62 x 45 = ₹388
• CMP: ₹336.55
• Potential Upside: ~15%

🚨 Conservative because valuation doesn’t yet include revenue/margin impact of Fetomat or FY26 expansion.

📈 Expansion & Strategy Outlook

🧪 Fetomat Acquisition:

• Acquired 63% in Fetomat, a genomic pregnancy care diagnostics startup.
• Entry into prenatal testing, therapy, and genetic counseling.
• Synergistic potential: complements Suraksha’s radiology and consultation arms.

🏥 FY26 Expansion Plan:

• Planned 15–18 new centers, nearly 2.5x of FY25’s 7 additions.
• Majority of approvals already secured.
• Focus: improved operating leverage and mature center profitability.

🧠 EduInvesting Take

Okay, let’s decode:

• A diagnostic company from Kolkata is now into DNA.
• They’re expanding faster than people in Delhi book preventive checkups before winter.
• And their margins are already at 34%, which is better than many FMCGs.

So what’s the catch?

• Slight dip in Q4 EBITDA, probably due to IPO + acquisition chaos.
• Doctor strikes + Bangladesh market disruption didn’t help either.
• But if they’re still pushing 34% PAT growth in this mess, you gotta ask:

What happens when things actually go right?

🚩 Risks & Red Flags

• Genomic medicine is a high-risk, high-burn sector if not managed well.
• Doctor strikes, regulatory shifts in healthtech can whiplash performance.
• Geographical concentration (East India) limits diversification.

🧪 Verdict

Suraksha Diagnostic is now more than just a test lab — it’s a full-blown healthcare platform-in-the-making.

With rising profitability, a moat in Eastern India, IPO cash, and now a Fetomat-fueled science push, this looks like a quiet compounding story hiding in a sector obsessed with flashy PAN-India brands.

If they keep margins tight and expansion disciplined, ₹388+ is very achievable — and that’s not even factoring in any diagnostic sector rerating post-2024 elections.

📌 Tags: Suraksha Diagnostic FY25 Results, Diagnostic Sector India, Genomic Medicine India, Fetomat Acquisition, Kolkata Healthcare Stocks, Multibagger Diagnostic Stocks, Suraksha IPO, East India Stocks, Healthcare Expansion, FY25 PAT Growth

✍️ By: Prashant Marathe
📅 Date: May 28, 2025