Star Imaging and Path Lab Ltd
Incorporated in 2004, Star Imaging and Path Lab Limited is a healthcare company providing diagnostic services across a wide range of medical tests.[1]
- Market Cap ₹ 240 Cr.
- Current Price ₹ 138
- High / Low ₹ 152 / 123
- Stock P/E 12.2
- Book Value ₹ 61.4
- Dividend Yield 0.00 %
- ROCE 34.7 %
- ROE 40.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.9%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 222 days.
- Working capital days have increased from 43.5 days to 121 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Healthcare Healthcare Healthcare Services Healthcare Service Provider
Part of BSE SME IPO
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 69 | 58 | 79 | 84 | |
| 54 | 52 | 55 | 54 | |
| Operating Profit | 15 | 6 | 23 | 29 |
| OPM % | 21% | 10% | 30% | 35% |
| 0 | 0 | 1 | 0 | |
| Interest | 2 | 2 | 3 | 3 |
| Depreciation | 4 | 3 | 5 | 5 |
| Profit before tax | 9 | 1 | 16 | 21 |
| Tax % | 33% | 35% | 23% | 26% |
| 6 | 1 | 12 | 16 | |
| EPS in Rs | 41.93 | 3.87 | 82.80 | 11.80 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 36% |
| TTM: | 37% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 34% |
| Last Year: | 41% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 14 | 17 |
| Reserves | 17 | 17 | 30 | 34 | 89 |
| 30 | 27 | 31 | 33 | 20 | |
| 10 | 16 | 20 | 18 | 23 | |
| Total Liabilities | 58 | 61 | 82 | 98 | 150 |
| 15 | 19 | 22 | 21 | 26 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 43 | 42 | 60 | 77 | 124 | |
| Total Assets | 58 | 61 | 82 | 98 | 150 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 14 | 5 | 18 | -6 | |
| -4 | -7 | -7 | -4 | |
| -7 | -5 | 2 | -0 | |
| Net Cash Flow | 3 | -7 | 13 | -10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 85 | 110 | 152 | 222 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 85 | 110 | 152 | 222 |
| Working Capital Days | 6 | -13 | 23 | 121 |
| ROCE % | 6% | 34% | 35% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
2d - Infomerics report: Rs55.66 crore IPO; net proceeds Rs49.67 crore; Rs17.38 crore utilized by Sep 30, 2025.
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Unaudited (Standalone And Consolidated) Financial Results Of The Company For Half Year Ended 30Th September 2025
2d - Unaudited H1 ended Sep 30, 2025: Revenue ₹4,556.40L, profit ₹1,003.35L; IPO proceeds ₹5,566.40L.
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Board Meeting Outcome for Unaudited Financial Result (Standalone And Consolidated) For Half Year Ended 30Th September 2025
2d - Board approved H1 results (Sep 30, 2025): revenue Rs.4,556.40L, profit ~Rs.1,002.5L; IPO proceeds Rs.5,566.40L.
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
12 Nov - Entered MOUs: CT scan (Rs.2.00 Cr capex) operational by Jan 2026; three more locations and nursing-home ultrasound/pathology.
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015.
11 Nov - 11 Nov 2025: Added CT and 3T MRI at Vikaspuri; empanelled under CGHS for government beneficiaries.
Business Profile[1]
Star Imaging and Path Lab Limited (originally Janta X-Ray Clinic) is a Delhi-based diagnostic healthcare service provider offering pathology, radiology, cardiology, and neurology services. The company operates through B2C, B2B, and B2G models, with NABL-accredited facilities.