Suraksha Diagnostic Ltd.

•

surakshanet.comBSE: 544293NSE: SURAKSHA

Market Cap₹ 1,763 Cr.

Current Price

High / Low₹ 349 / 224

Stock P/E47.9

Book Value₹ 50

Price to Book6.27

Dividend Yield0.15 %

ROCE25.8 %

ROE17.0 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Company is almost debt free
Operating margins have improved to 33.4% from 22.6%
Latest quarter profit grew 27.7% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.60x)
Working capital cycle has improved - days down from 53 to 9
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -13.9pp
Equity base is being diluted - shares outstanding up 51.0%
Stock is trading at 6.3x its book value
Expensive relative to growth - PEG of 4.0

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcareHospital & Healthcare Services

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	APOLLOHOSP	8784.00	60.45	126300.44	0.23	610.40	38.41	7043.50	20.56	21.73	15.70
2.	MAXHEALTH	994.20	66.42	96763.15	0.20	322.96	4.87	2366.17	16.70	14.97	25.29
3.	MANIPALHOS	726.00	107.02	95496.38	0.00	2434.30	—	30906.30	—	13.93	23.83
4.	FORTIS	912.65	65.75	68901.26	0.11	272.80	2.26	2545.03	17.46	14.07	21.28
5.	ASTERDM	786.90	215.24	68591.90	0.00	29.28	-68.70	1310.68	21.60	11.46	19.53
6.	NH	1880.95	47.10	38439.25	0.24	207.27	5.37	2683.63	78.05	16.20	17.43
7.	MEDANTA	1418.85	68.59	38148.87	0.04	157.25	-1.09	1304.05	26.50	19.38	21.99
8.	LALPATHLAB	1921.90	59.53	32258.86	1.07	1705.00	1172.39	7977.00	1090.95	29.56	31.03
9.	KIMS	767.40	157.76	32231.30	0.00	37.40	-56.00	1179.50	35.33	11.51	19.03
10.	AGARWALEYE	512.55	109.52	16249.18	0.00	550.20	1345.61	6140.20	1159.73	16.14	27.75
11.	VIJAYA	1505.95	82.73	15510.94	0.13	53.10	37.61	230.98	22.83	30.28	42.66
12.	SURAKSHA	338.45	49.24	1762.67	0.15	12.84	40.00	87.65	20.74	24.92	34.73

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60	51	55	60	66	59	64	70	76	76	79	84
	39	36	35	39	42	40	44	46	52	52	55	69
Operating Profit	21	16	20	21	24	18	20	24	24	23	24	15
OPM %	35.07%	30.26%	35.98%	34.92%	35.75%	30.89%	30.91%	33.92%	31.43%	30.68%	30.31%	17.42%
	1	1	0	1	1	1	1	1	1	1	1	2
Interest	2	2	2	2	2	2	2	3	3	3	4	4
Depreciation	8	8	8	9	9	9	9	9	10	10	11	11
Profit before Tax	11	7	10	11	14	8	10	13	13	11	11	16
Tax %	24.04%	24.27%	29.85%	25.76%	24.19%	24.47%	20.22%	24.92%	25.54%	25.80%	36.46%	22.39%
Net Profit	9	5	7	8	11	6	8	10	9	8	7	13
	1.62	0.92	1.28	1.56	2.02	1.22	1.54	1.89	1.80	1.56	1.29	2.42

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	99	124	132	151	157	140	223	190	219	249	314
	77	101	105	116	123	117	175	145	147	166	229
Operating Profit	22	23	27	35	34	23	48	45	72	83	86
OPM %	22.25%	18.29%	20.49%	23.11%	21.65%	16.18%	21.54%	23.94%	32.93%	33.42%	27.22%
	1	1	1	1	2	1	2	4	3	4	5
Interest	4	5	4	3	2	2	2	10	10	9	13
Depreciation	9	11	12	12	13	16	15	32	33	35	41
Profit before Tax	10	8	12	21	21	6	33	8	33	44	50
Tax %	45.03%	42.90%	28.98%	18.39%	27.61%	-0.96%	28.45%	8.67%	25.44%	23.76%	26.87%
Net Profit	6	4	8	17	15	6	24	7	24	33	37
EPS	0.00	0.00	0.00	0.00	178.00	76.00	278.49	1.35	353.39	6.42	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 10%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: 16%
5 Years:: 17%
3 Years:: 12%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 10%

RETURN ON EQUITY

10 Years:: 12%
5 Years:: 12%
3 Years:: 12%
Last Year:: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	7	7	7	7	7	7	7	7	7	10
	47	71	79	96	111	118	141	148	172	204
	33	31	12	20	8	16	19	86	75	74
Trade Payables	10	8	12	11	13	13	14	14	14	14
	32	31	35	28	34	17	19	27	33	31
Total Liabilities	128	148	145	162	173	171	201	282	302	333
	91	99	96	127	128	119	119	195	211	215
Capital Work in Progress	0	4	6	0	0	0	1	2	1	5
	3	18	10	2	5	6	0	0	1	3
	4	4	4	6	5	4	6	6	7	8
	0	0	0	0	0	0	0	0	9	15
Cash & Bank	9	6	8	3	4	4	3	55	53	16
	21	16	21	24	30	38	71	23	20	71
Total Assets	128	148	145	162	173	171	201	282	302	333

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	16	24	23	42	38	25	47	52	61	63
Cash from Investing	-26	-38	-2	-30	-20	-28	-44	-22	-35	-39
Cash from Financing	10	12	-17	-7	-10	3	1	-24	-26	-24
	-3	-3	2	-1	1	-1	-0	-1	0	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	79.76	64.59	121.85	247.31	220.48	93.83	344.22	104.19	353.39	6.42
Book Value (₹)	775.67	1122.82	1244.67	1491.98	1712.46	1806.30	2150.51	2246.32	2597.63	41.11
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	212.79	227.52	292.89	427.49	403.02	321.54	562.93	562.65	825.38	13.09
PROFITABILITY
Operating Margin %	23.45%	19.16%	21.32%	24.01%	22.63%	17.16%	22.58%	25.82%	32.93%	33.42%
Net Margin %	5.55%	3.61%	6.37%	11.30%	9.66%	4.62%	10.64%	3.78%	11.16%	13.42%
ROE %	10.84%	6.80%	10.29%	18.07%	13.76%	5.33%	17.40%	4.74%	14.59%	17.00%
ROCE %	16.12%	11.59%	13.71%	20.08%	17.99%	6.07%	22.65%	10.26%	23.48%	25.83%
	4.69%	3.23%	5.74%	11.13%	9.10%	3.76%	12.78%	2.98%	8.35%	10.53%
EFFICIENCY
Debtor Days	13	12	12	14	14	16	11	12	12	18
Inventory Days	11	12	12	12	13	13	9	12	11	11
Payable Days	291	193	215	214	209	182	80	185	189	178
	-266	-170	-191	-188	-181	-153	-60	-161	-167	-150
FINANCIAL HEALTH
Debt to Equity (x)	0.77x	0.49x	0.29x	0.19x	0.10x	0.13x	0.13x	0.09x	0.05x	0.03x
Interest Coverage (x)	3.46x	2.69x	4.01x	8.16x	11.33x	4.37x	16.78x	1.82x	4.42x	5.85x
	0.73x	1.20x	1.01x	0.79x	0.83x	1.09x	0.78x	1.78x	1.80x	1.16x
GROWTH
Revenue Growth %	41.20%	24.60%	6.83%	14.45%	4.28%	-11.11%	59.42%	-14.88%	15.02%	13.99%
Operating Profit Growth %	24.39%	1.81%	18.85%	28.91%	-1.71%	-32.59%	109.71%	-2.63%	54.12%	15.90%
Net Profit Growth %	-27.64%	-19.02%	88.65%	102.97%	-10.85%	-57.44%	266.84%	-69.73%	239.18%	37.14%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	239.18%	-98.18%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	40.15x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.27x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-0.47x	15.21x

Shareholding Pattern

Numbers in percentages

	Mar 2022	Mar 2023	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.96	62.96	48.78	48.78	48.88	48.98	49.00	49.10	49.10
	0.00	0.00	15.39	14.46	13.95	13.73	13.46	13.46	13.47
	0.00	0.00	20.43	22.05	22.37	21.98	22.57	23.14	23.22
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	37.04	37.04	15.39	14.70	14.80	15.31	14.98	14.31	14.21

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-31

Copy of Newspaper Publication

2026-08-31 - Suraksha Diagnostic Limited has informed the Exchange about Copy of Newspaper Publication published today, i.e. on Monday, 31 August, 2026 with respect to the Notice of the 21st Annual General Meeting of the Company scheduled to be held on Tuesday, 22 September, 2026 and e-voting information.

2026-08-27

General Updates

2026-08-27 - Pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, a letter to those Members whose e-mail addresses are not registered with the Company/Registrar and Share Transfer Agent (RTA), i.e. KFin Technologies Limited/Depository Participants (DPs)/Depositories is being dispatched by the Company.

2026-08-27

Shareholders meeting

2026-08-27 - Notice of 21st Annual General Meeting to be held on September 22, 2026.

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Suraksha Diagnostic Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Suraksha Diagnostic Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Suraksha Diagnostic Limited has informed the Exchange about Transcript

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - Suraksha Diagnostic Limited has informed the Exchange about Transcript

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Suraksha Diagnostic Limited has informed the Exchange about Link of Recording

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Suraksha Diagnostic Limited has informed the Exchange about Link of Recording

News

Recent coverage and analyst commentary for SURAKSHA

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Suraksha Diagnostic Ltd.

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Name

APOLLOHOSP

8784.00

60.45

126300.44

0.23

610.40

38.41

7043.50

20.56

21.73

15.70

MAXHEALTH

994.20

66.42

96763.15

0.20

322.96

4.87

2366.17

16.70

14.97

25.29

MANIPALHOS

726.00

107.02

95496.38

0.00

2434.30

—

30906.30

—

13.93

23.83

FORTIS

912.65

65.75

68901.26

0.11

272.80

2.26

2545.03

17.46

14.07

21.28

ASTERDM

786.90

215.24

68591.90

0.00

29.28

-68.70

1310.68

21.60

11.46

19.53

1880.95

47.10

38439.25

0.24

207.27

5.37

2683.63

78.05

16.20

17.43

MEDANTA

1418.85

68.59

38148.87

0.04

157.25

-1.09

1304.05

26.50

19.38

21.99

LALPATHLAB

1921.90

59.53

32258.86

1.07

1705.00

1172.39

7977.00

1090.95

29.56

31.03

KIMS

767.40

157.76

32231.30

0.00

37.40

-56.00

1179.50

35.33

11.51

19.03

AGARWALEYE

512.55

109.52

16249.18

0.00

550.20

1345.61

6140.20

1159.73

16.14

27.75

VIJAYA

1505.95

82.73

15510.94

0.13

53.10

37.61

230.98

22.83

30.28

42.66

SURAKSHA

338.45

49.24

1762.67

0.15

12.84

40.00

87.65

20.74

24.92

34.73

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

OPM %

35.07%

30.26%

35.98%

34.92%

35.75%

30.89%

30.91%

33.92%

31.43%

30.68%

30.31%

17.42%

Interest

Depreciation

Profit before Tax

Tax %

24.04%

24.27%

29.85%

25.76%

24.19%

24.47%

20.22%

24.92%

25.54%

25.80%

36.46%

22.39%

Net Profit

1.62

0.92

1.28

1.56

2.02

1.22

1.54

1.89

1.80

1.56

1.29

2.42

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

124

132

151

157

140

223

190

219

249

314

101

105

116

123

117

175

145

147

166

229

Operating Profit

OPM %

22.25%

18.29%

20.49%

23.11%

21.65%

16.18%

21.54%

23.94%

32.93%

33.42%

27.22%

Interest

Depreciation

Profit before Tax

Tax %

45.03%

42.90%

28.98%

18.39%

27.61%

-0.96%

28.45%

8.67%

25.44%

23.76%

26.87%

Net Profit

EPS

0.00

178.00

76.00

278.49

1.35

353.39

6.42

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

111

118

141

148

172

204

Trade Payables

Total Liabilities

128

148

145

162

173

171

201

282

302

333

127

128

119

195

211

215

Capital Work in Progress

Cash & Bank

Total Assets

128

148

145

162

173

171

201

282

302

333

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cash from Investing

-26

-38

-2

-30

-20

-28

-44

-22

-35

-39

Cash from Financing

-17

-7

-10

-24

-26

-24

-3

-1

-0

-1

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

79.76

64.59

121.85

247.31

220.48

93.83

344.22

104.19

353.39

6.42

Book Value (₹)

775.67

1122.82

1244.67

1491.98

1712.46

1806.30

2150.51

2246.32

2597.63

41.11

Dividend per Share (₹)

0.00

Cash EPS (₹)

212.79

227.52

292.89

427.49

403.02

321.54

562.93

562.65

825.38

13.09

PROFITABILITY

Operating Margin %

23.45%

19.16%

21.32%

24.01%

22.63%

17.16%

22.58%

25.82%

32.93%

33.42%

Net Margin %

5.55%

3.61%

6.37%

11.30%

9.66%

4.62%

10.64%

3.78%

11.16%

13.42%

ROE %

10.84%

6.80%

10.29%

18.07%

13.76%

5.33%

17.40%

4.74%

14.59%

17.00%

ROCE %

16.12%

11.59%

13.71%

20.08%

17.99%

6.07%

22.65%

10.26%

23.48%

25.83%

4.69%

3.23%

5.74%

11.13%

9.10%

3.76%

12.78%

2.98%

8.35%

10.53%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

291

193

215

214

209

182

185

189

178

-266

-170

-191

-188

-181

-153

-60

-161

-167

-150

FINANCIAL HEALTH

Debt to Equity (x)

0.77x

0.49x

0.29x

0.19x

0.10x

0.13x

0.09x

0.05x

0.03x

Interest Coverage (x)

3.46x

2.69x

4.01x

8.16x

11.33x

4.37x

16.78x

1.82x

4.42x

5.85x

0.73x

1.20x

1.01x

0.79x

0.83x

1.09x

0.78x

1.78x

1.80x

1.16x

GROWTH

Revenue Growth %

41.20%

24.60%

6.83%

14.45%

4.28%

-11.11%

59.42%

-14.88%

15.02%

13.99%

Operating Profit Growth %

24.39%

1.81%

18.85%

28.91%

-1.71%

-32.59%

109.71%

-2.63%

54.12%

15.90%

Net Profit Growth %

-27.64%

-19.02%

88.65%

102.97%

-10.85%

-57.44%

266.84%

-69.73%

239.18%

37.14%

0.00%

239.18%

-98.18%

VALUATION

P/E (x)

0.00x

40.15x

P/B (x)

0.00x

6.27x

Dividend Yield %

0.00%

0.00x

-0.47x

15.21x

Mar 2022

Mar 2023

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

62.96

48.78

48.88

48.98

49.00

49.10

0.00

15.39

14.46

13.95

13.73

13.46

13.47

0.00

20.43

22.05

22.37

21.98

22.57

23.14

23.22

Government

0.00

37.04

15.39

14.70

14.80

15.31

14.98

14.31

14.21

Suraksha Diagnostic Ltd.

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Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Suraksha Diagnostic Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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