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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹50.35 Cr
verified against source
Revenue YoY
11.8%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
3B Blackbio reported 9-month revenue of ₹99.06 crore, up 11.8% YoY (or ~20% excluding seasonal flu spikes). Excluding a one-off HAT contract of ~₹8.8 crore, core growth was modest. Management guided full-year top-line growth of 10-15% and export growth of 15-20%, with EBITDA margin likely compressed due to one-time M&A expenses. The company maintains a 12-15% market share in the Indian open-system molecular diagnostics market (TAM ₹400-500 crore). Key growth drivers include the Chorus acquisition (lateral flow/AMR), UK subsidiary expansion, and upcoming US FDA filings for Chorus products. Risks include intensifying competition from players entering high-margin molecular diagnostics, lumpy HAT contract sunsetting in 2 years, and slow NGS adoption. The company is actively scouting for acquisitions with ~₹130-140 crore earmarked.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects overall top-line growth of 10-15% for FY26, excluding one-off items.
- Exports are expected to grow 15-20% in FY26, driven by UK subsidiary and new registrations.
- Chorus is targeted to become EBITDA positive at 2-4% of revenue in the next fiscal year.
- A new sample-to-answer system (OEM) is expected to be launched in the next quarter, targeting infection and oncology segments.
Risks flagged
- New entrants from biochemistry/ELISA are entering molecular diagnostics due to high margins, pressuring pricing and market share.
- The WHO HAT contract (~$1.5M/year) will end in ~2 years; replacement revenue from US FDA is uncertain.
- NGS segment has low margins and slow traction; management views it as a technology hedge rather than a growth driver.
- Industry credit periods have extended to 3-5 months, matching competitors, which could pressure working capital.
Key quotes
- We are already doing a sample to answer machine... So once we have this sample to answer machine probably in the next quarter, this will have a different segment to be added.
- US is a must to have.
- We are very actively looking... we have appointed two consultants, we ourselves dedicate almost one hour or two hours searching for company that is the top of the agenda to acquire a company.
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