Suraksha Diagnostic Stock: A Comprehensive Analysis
Company Overview
One of the premier diagnostic firms in East and Northeast India, Surakksha Diagnostic Ltd. is located in Kolkata. Formed with the vision of providing high-quality diagnostic services, it stands alone as the only player in the region accredited by the College of American Pathologists. The company runs a very robust network of diagnostic centers with modern radiology and pathology facilities, offering more than 2,300 tests in various disciplines.
Business Model
Suraksha Diagnostic earns income through highly-comprehensive services in diagnostic investigations which include both pathology and radiology tests. It caters to individual clients and healthcare facilities. It is a company with a distinct regional presence supported by advanced technology, with 24 CT and 13 MRI machines. The year 2024 saw Suraksha conduct around 5.98 million tests for 1.14 million patients, testifying to an impressive operational scale.
Financial Performance
- Revenue Growth: The company's revenue increased by 15% in FY24, reaching ₹218.7 crore compared to ₹190.1 crore in FY23.
- Profitability: Net profit surged nearly fourfold to ₹23.1 crore in FY24 from ₹6 crore in FY23, reflecting its improved operational efficiency and cost management.
- Future Potential: The Indian diagnostics market is projected to grow at a CAGR of 10-12%, with significant opportunities in East India.
IPO Details
Suraksha Diagnostic is set to launch its Initial Public Offering (IPO) with an Offer for Sale (OFS) of up to 19.19 million shares. This IPO is aimed at increasing the company's visibility and enhancing its capital base for further expansion.
- IPO Size: The total issue size is approximately 700 crore.
- Issue Price: The price band for the IPO has been set between 270 and 280 per share.
- Retail Quota: Retail investors are eligible to apply for up to 35% of the total offer size, making it accessible to individual investors.
The IPO will be listed on both the NSE and BSE, with KFin Technologies Ltd. serving as the registrar.
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- Promoters: Dr. Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma are among the key stakeholders.
- Investors: OrbiMed Asia II Mauritius Ltd., a prominent healthcare-focused investor, holds a significant stake.
Growth Prospects
Suraksha Diagnostic's emphasis on advanced diagnostics, coupled with a growing market in East India, positions it well for future growth. With the Indian diagnostics market set to reach ₹1,375 billion by FY28, Suraksha aims to expand its network and invest in technology, capturing a larger market share.
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How to Check IPO Allotment
After the IPO subscription closes, retail investors can check their allotment status through the following steps:
- Visit the official KFin Technologies website: KFin IPO Allotment.
- Alternatively, you can also check your allotment status through the BSE or NSE websites.
Conclusion
Based on regional presence and a developing portfolio of advanced diagnostic services, Suraksha Diagnostic Ltd. has garnered much admiration across the medical field in India. Its strong financials and strategic positioning in the market will offer some real promise for long-term growth, making this a stock to keep an eye on after its IPO.