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
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
75%Questions answered2Evaded / deflected12Questions auditedMixedNumbers vs filing
Answered
High priority
Capex required per franchisee for diagnostic centers
Asked by Priu Jane, Growth X Infinity
Answered directly with specific capex details for labs and franchise model.
Read the exchange
Question
can you tell us the capex which is required for per franchisee?
Management (unidentified speaker)
for franchisee we don't need to invest anything. ... we are planning to invest nearly 100 cr in 3 years
Answered
High priority
Differentiators vs competitors like Dr. Lal
Asked by Priu Jane, Growth X Infinity
Provided clear differentiators: comprehensive centers, branding, and pricing.
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Question
what is the differentiator which we are offering to our customers or like on the price point
Management (unidentified speaker)
our main business belongs to our comprehensive centers ... we give all type of facilities under one roof
Partial answer
High priority
Sustainability of EBITDA margins
Asked by Priu Jane, Growth X Infinity
Acknowledged improvement but did not quantify sustainable margin level.
no specific margin guidanceattributed to one-time expense
Read the exchange
Question
these are the sustainable ITA margins going forward.
Management (unidentified speaker)
definitely ITA margin will improve ... it is affected by our code basically graduity ... one-time expense
Answered
Medium priority
Revenue mix target between B2C, B2B, B2G
Asked by Priu Jane, Growth X Infinity
Provided clear target revenue mix.
Read the exchange
Question
what are like is our target going forward like government corporates and B2C.
Management (unidentified speaker)
our aim is to keep all these three at a equal level 33 33 33
Answered
High priority
EBITDA margin bifurcation by segment
Asked by Priu Jane, Growth X Infinity
Provided specific margin ranges for each segment.
Read the exchange
Question
give us the bifurcation on the AITA margin side like what we are getting in B2G, B2B and B2C?
Management (unidentified speaker)
B2C we have nearly if the center is matured then we get EVITA 45 plus ... B2G between 30 to 40% ... B2B it is nearly 35%
Evasive
High priority
Expectation of >30% topline growth next year
Asked by Priu Jane, Growth X Infinity
Did not provide a specific growth figure, only said it would be higher.
no number givenvague promise
Read the exchange
Question
can we assume like for the next financial year we will able to grow more than 30% on the topline basis.
Management (unidentified speaker)
This is much less what we are going to give it is much less ... It will be much much higher.
Answered
Medium priority
Explanation of exceptional loss of 2.2 CR
Asked by Taher Hyderabad Wala, Group Buy Fund
Clearly explained the one-time nature and reason.
Read the exchange
Question
we have seen a exceptional loss of 2.2 CR ... can you explain what was this loss for?
Management (Rajiv, CFO)
because of provisioning of employee graduity cost ... revision in wages as per new labor cost ... one time provision
Answered
Medium priority
Number of labs opened and plans for Q4
Asked by Taher Hyderabad Wala, Group Buy Fund
Provided specific numbers and plans.
Read the exchange
Question
how many we have opened till now in end of quarter 3 and what are plans for quarter four?
Management (unidentified speaker)
up to quarter 4 we will be present in 13 states ... in this year we have already started six comprehensive centers ... 18 labs we have started
Partial answer
Medium priority
Revenue mix between diagnostic and pharmacy
Asked by Taher Hyderabad Wala, Group Buy Fund
Gave a ratio but unclear which segment corresponds to 60%.
unclear ratiodid not specify which is 60
Read the exchange
Question
share the revenue mix for quarter 3 between diagnostic and pharmacy.
Management (unidentified speaker)
the ratio ... it is 6040 60 and in the diagnostic
Answered
Medium priority
Employee cost increase to 18% of revenue
Asked by Abiji Jane, AJ Capital
Explained the increase as temporary due to expansion.
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Question
employee cost is increasing at a rapid pace ... will this be on an ongoing basis?
Management (unidentified speaker)
it is because of organic expansion ... we had started 18 labs ... employee cost will definitely increase ... as soon as we will start getting the business it will come down.
Answered
High priority
Sustainability of 35-40% B2C EBITDA margins
Asked by Abiji Jane, AJ Capital
Confirmed sustainability and provided blended margin expectation.
Read the exchange
Question
do you think that this 35 40% level that you're seeing across your three lines of businesses that is sustainable
Management (unidentified speaker)
if it is B2C business then it is 35 to 40 ... we expect around 30 to 35% EIA everywhere ... it is sustainable
Evasive
High priority
Timeline for EBITDA margins to reach 30-32%
Asked by Kushi Jane, Nan Capital
Did not commit to a specific quarter or year for margin recovery.
no specific timelinevague
Read the exchange
Question
When do we expect that to be done like in next year FI27 or when do we expect the ITA margins to get back to 40 32%.
Management (unidentified speaker)
with every quarter you will see the change ... by the end of upward change you will see.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Q3 revenue 65.77 cr, 20% YoY growth | ₹65.77 cr | ₹65.01 cr | Matches filing |
| PAT for Q3 was 4.54 cr | ₹4.54 cr | ₹4.54 cr | Matches filing |
| EBITDA margin 19.17%, up 263 bps | 19.17% | 18.21% | Overstated vs filing |
| Diagnostic B2C sales grew 34% YoY | 34% | 20% | Overstated vs filing |
| EBITDA grew 39% YoY | 39% | 12.61% | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.