Vijaya Diagnostic Centre Ltd

- No specific mention of any current or planned fundraising through debt or equity in the provided transcript. - The company has a strong cash balance of around INR 280-300 crores and plans to use this cash primarily for organic growth and potential inorganic acquisitions if suitable opportunities arise. - Capex for FY27 is estimated between INR 140-150 crores, funded through existing cash and internal accruals. - Management highlighted opportunistic inorganic expansion but emphasized value and valuation discipline, without indicating immediate capital raising. - Any changes in capex or expansion plans will be updated quarterly.

- FY'26 capex outlay was INR 169 crores, including replacement capex. - FY'27 planned capex for new centers and an automated lab estimated at INR 140-150 crores (Page 5, 12, 17). - Capex includes 4-5 hubs, 10-12 spokes, with leases executed currently; further capex guidance to be revised quarterly as new opportunities arise (Page 7, 9, 17). - Additional INR 10-15 crores allocated for maintenance capex yearly (Page 18). - Expansion focus is organic growth; no immediate inorganic acquisitions, though management remains open if valuation and value-add are right (Page 9). - Flagship hub in Bannerghatta, Bangalore with advanced equipment (PET CT, wide bore MRI) planned to be operational in next few months (Page 9). - Ongoing and planned tech investments in CRM, ERP, AI in radiology, digital marketing with increasing spend (Page 12). - Capital deployment decisions will continue to balance cash reserves (~INR 280-300 crores) with growth opportunities (Page 9).

- Expectation of strong revenue and volume growth driven by network expansion in existing and new geographies (Hyderabad, Pune, Bangalore, West Bengal, etc.). - Hyderabad to sustain double-digit growth (~20%) in near term, with additional spokes opening and market share gains. - Pune expected to double revenue in next 3-5 years, with newer hubs targeting INR 12-15 crores revenue per center. - Bangalore hubs showing promising traction with centers nearing break-even; more hubs planned. - Continued double-digit growth in Peripheral Healthcare (PH) and wellness segments. - Focus on volume-driven growth rather than premiumization, with ~1-1.5% realization price hikes. - Genomics is a long-term growth area, with gradual build-up expected but no significant near-term revenue impact. - Capacity addition and new center openings remain key drivers; 4-5 hubs and 10-12 spokes planned for FY27. - Management confident of sustaining high growth while maintaining EBITDA margins above 40%.

- Vijaya Diagnostic Centre expects continued double-digit revenue growth, particularly driven by network expansion in Pune, West Bengal, and new hubs in Bangalore. - For FY'27, capex of INR 140-150 crores is planned, focusing on 4-5 new hubs, 10-12 spokes, and a state-of-the-art automated lab to enhance operational efficiency. - EBITDA margins are expected to remain robust above 40%, with potential margin accretion due to the addition of more spokes compared to hubs. - Management is confident of sustaining and potentially exceeding the current EBITDA margin of ~41.5% for the full year despite incremental investments in technology and talent. - Operating leverage benefits and faster breakeven of new centers contribute to profitability growth. - Expansion through inorganic routes is considered selectively, focusing on value-accretive acquisitions aligning with the company's B2C-driven model. - Profit after tax margins have historically been ~21%, with growth expected to align with revenue and margin improvement.

- Vijaya Diagnostic Centre has been catering to a few large corporates for the last couple of years. - Despite the presence of many aggregators and price-sensitive corporates causing some churn, the company has continuously received orders from large corporates over the past 2-3 years. - No specific quantitative details on the order book or pipeline were shared. - The company sees ongoing continuous orders and repeat business from large corporates. - The wellness segment has strong growth, but tracking of recurring customers needs more time due to new data systems initiated 2 years ago. - For inorganic expansion or franchise models, the company is cautious and currently focuses on company-owned centers.