1. At a Glance
Medinova Diagnostics, a microcap diagnostic chain, posted Q1 FY26 revenue of ₹2.72 Cr (YoY +9%), PAT ₹0.66 Cr (YoY +57%). Operating margins? A sizzling 38.6%. Stock at ₹42 is moving like a lazy ECG wave. Oh, and they’re merging with Vijaya Diagnostics—because scale is the new stethoscope.
2. Introduction with Hook
Imagine a clinic that’s been around since 1985, surviving everything from floppy disks to AI scans. Medinova is that underdog diagnostic center that doesn’t have Dr. Lal’s swag but still runs profitable tests. Two headlines:
- Merger with Vijaya Diagnostics approved in 2025.
- ROCE at 107%—yes, you read that right, it’s absurdly high.
3. Business Model (WTF Do They Even Do?)
Medinova does diagnostics:
- Blood tests to MRIs, they’ve got it.
- Four centers (Hyderabad, Pune, Kolkata).
- Special services: corporate tie-ups, home visits, health camps.
Punchline: “They do what Apollo does—just without the Apollo prices or marketing budget.”
4. Financials Overview
Q1 FY26 Snapshot:
- Revenue: ₹2.72 Cr (+9% YoY)
- PAT: ₹0.66
