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CHANDANHEALTHCARE Healthcare 31 Dec 2025

Chandan Healthcare Ltd — Q3 FY26

Chandan Healthcare delivered a solid Q3 FY26 with revenue of ₹65.77 Cr (+20% YoY) and EBITDA of ₹12.61 Cr (+39% YoY), driven by 34% growth in B2C diagnostics.

bullish high
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Revenue ₹65 Cr +20%
EBITDA ₹13 Cr +39%
PAT ₹5 Cr +7.97%
EBITDA Margin 18.21% +263bps
Duration 65 min
Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

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Chandan Healthcare delivered a solid Q3 FY26 with revenue of ₹65.77 Cr (+20% YoY) and EBITDA of ₹12.61 Cr (+39% YoY), driven by 34% growth in B2C diagnostics. EBITDA margin expanded 263 bps to 19.17%, despite a one-time gratuity provision of ₹2.2 Cr. PAT grew 8% to ₹4.54 Cr. The company is aggressively expanding: 6 comprehensive centers and 18 labs opened YTD, with 9 more labs launching next month. A landmark 10-year government contract for radiology services in Punjab and Assam (₹55 Cr annual revenue) will commence over the next six months. Management guided for significantly higher growth in FY27, with EBITDA margins expected to improve to 30-35% as new centers mature. Key risk: rapid expansion could strain working capital and employee costs, which rose to 18% of revenue this quarter.

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Claim Ledger 75% answered

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12 analyst questions audited, 2 evaded or deflected.

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!Risks 4 risks

Risk Intelligence

Employee Cost Inflation

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Quarter Snapshot

B2C Diagnostic Sales Growth 34%
+34% YoY

B2C diagnostic sales grew 34% YoY, the major contributor to overall revenue growth.

Comprehensive Centers Opened YTD 6
+6 vs prior year

Six new comprehensive diagnostic centers started this financial year, offering pathology and radiology under one roof.

Franchisee Locations Enrolled 100
+100 vs prior year

Franchisee network expanded to over 100 locations, with results expected from Q4.

Government Contract Annual Revenue ₹55 Cr
New contract

10-year contract for radiology services in 8 Punjab districts and 1 Assam railway hospital, worth ₹55 Cr per year.

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Guidance and risk preview

Top guidance FY27 Revenue Growth Significantly Higher Than 30%

Management indicated that FY27 revenue growth will be 'much much higher' than 30%, driven by new centers and the government contract.

Top risk Employee Cost Inflation

Employee costs rose to 18% of revenue due to expansion-related hiring and one-time gratuity provisioning; may pressure margins if revenue ramp-up l...

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