Suraksha Diagnostic IPO: The Good and the Bad

Published: 28th Nov 2024

By: Value Research

The company

Suraksha Diagnostic is a diagnostic service provider, primarily operating in East India with 49 centers. In FY24, the company generated 53 per cent of its revenue from pathology tests and 46 per cent from radiology. It makes around 94 per cent of its revenue from retail customers (B2C) and the rest from corporate users (B2B).

IPO details

Post-IPO

Financial history

Key ratios

The good

The company’s diagnostic centers house polyclinics (small medical clinics), which provide medical consultations to patients. This value addition helped Suraksha realise the highest revenue per patient in the industry at Rs 1,922 in FY24.

The bad

The industry’s competitive intensity and a massive number of company and promoter shares that have been pledged are key concerns. To read how these factors are a threat, head on to our story from the link below:

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