Krsnaa Diagnostics Ltd

- Currently, Krsnaa Diagnostics does not expect to raise any new debt for planned CAPEX. - CAPEX is primarily funded through internal accruals and some vendor financing (deferred payment or leasing of equipment). - Debt raising is considered only if a new tender warrants it. - There is no mention of imminent equity fundraising. - Cash on the balance sheet (~220 crores) will be utilized for working capital. - Future fundraising decisions will depend on new tender opportunities and project requirements.

- Total CAPEX guidance for FY24 and FY25 is approximately ₹120-130 crore each year, totaling around ₹240-260 crore over two years. - Rajasthan tender alone has a projected CAPEX of close to ₹200 crore, with major spending planned in H2 FY24 and Q1 FY25. - CAPEX for other projects like Odisha, Assam, and Punjab is relatively lower, estimated around ₹40-60 crore. - The company primarily plans to fund CAPEX through internal accruals and vendor financing (deferred payment or lease of equipment). - No major debt raises planned for CAPEX unless new tenders require it. - Strategic investments focus on deploying equipment and setting up infrastructure in new government PPP projects, including Rajasthan, Assam, Odisha, Maharashtra, and BMC contracts. - CAPEX is mainly for setting up collection centers, pathology labs, and radiology equipment as per government tender requirements.

- The company targets a revenue growth of 30-35% year-on-year for the next two years excluding Rajasthan. - With Rajasthan tender included, the growth rate will be significantly higher. - Rajasthan is expected to contribute close to INR 300 crores in revenue in FY25. - Total revenue including Rajasthan for FY25 is projected to approach INR 1100 crores. - New project deployments in Assam, Odisha, BMC, and Maharashtra are expected to drive growth. - Ramp-up in existing projects like Punjab and Himachal Pradesh continues to contribute to increasing revenues. - Expansion in pathology service contribution is expected to improve overall revenue mix over time. - There is headroom for increased tele-reporting and utilization of installed equipment capacity, indicating further volume growth potential.

- Krsnaa Diagnostics expects top-line growth of 30-35% year-on-year for FY24 and FY25 excluding Rajasthan. - With the addition of Rajasthan in FY25, overall growth is expected to be significantly higher, targeting revenue around INR 1100 crores by FY25. - EBITDA margins are expected to stabilize around 25-30% annually, with aspirations to reach approximately 28-30% as projects mature. - Operating cash flows for FY24 are expected to be similar to FY23, given investments in working capital and ongoing CAPEX. - CAPEX is planned at INR 120-130 crores each for FY24 and FY25, mainly funded through internal accruals and vendor financing. - Revenue ramp-up is anticipated from ongoing and pipeline projects like Rajasthan, Punjab, Assam, Odisha, and BMC contracts. - Overall, the company aims for strong growth in earnings aligned with expanding government tender projects and operational scale-up.

- Krsnaa Diagnostics has several ongoing and pipeline projects, including large state-level tenders in Assam, Odisha, Punjab, Himachal Pradesh, BMC (Brihanmumbai Municipal Corporation), and Maharashtra. - Rajasthan tender is a significant pending order, expected to contribute around ₹300 crore in revenue from FY25 onwards; pending execution of agreement due to government formalities. - The company expects 30-35% year-on-year revenue growth for FY24 and FY25 excluding Rajasthan; including Rajasthan, growth will be higher. - Projects like Assam and Odisha are yet to be fully operationalized but anticipated to ramp up. - They continue to seek and participate in new tenders, maintaining an edge due to experience and insights. - CAPEX for FY24-25 is projected around ₹120-130 crore annually, largely directed towards Rajasthan and other new projects. - Internal accruals and vendor financing mainly fund CAPEX; no major debt expected unless new tenders arise.