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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
₹65.01 Cr
verified against source
Revenue YoY
20%
reported change
EBITDA
₹12.61 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
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.
Colored figures show movement against the previous available record.
Guidance to track
- Management indicated that FY27 revenue growth will be 'much much higher' than 30%, driven by new centers and the government contract.
- Management expects consolidated EBITDA margins to improve to 30-35% as new centers mature and the one-time gratuity impact fades.
- Target to enroll 1,000 franchisee collection centers over the next three years, with 100 already enrolled.
- Planned investment of approximately ₹100 Cr over three years for setting up new laboratories, funded via preferential shares.
Risks flagged
- Employee costs rose to 18% of revenue due to expansion-related hiring and one-time gratuity provisioning; may pressure margins if revenue ramp-up lags.
- Although the Punjab project is cash-based, other government contracts may have delayed payments; management acknowledged B2G receivables take 3-4 months.
- Opening 18 labs and 7 comprehensive centers in one year, plus a large government project, could strain operational bandwidth and quality control.
- Franchise model faces direct competition from Dr. Lal, Thyrocare, and Metropolis; management expects franchise to be only 10% of total business.
Key quotes
- Our aim is to keep B2C at the highest level, B2B at the second level and B2G at the last level just because of receivable amount and that takes nearly 3 to four months in case of B2G.
- This is much less what we are going to give it is much less what you are talking it is much less. It will be much much higher.
- In next 2 three years definitely we can go amongst first four or five but not two to three just because there are three four big players. But as far as growth is concerned definitely we can compete anyone.
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