Modern Diagnostic & Research Centre Ltd
Incorporated in 1985, Modern Diagnostic & Research Centre Limited (MDRC) is a diagnostic chain in India, offering a comprehensive range of pathology and radiology services.[1]
- Market Cap ₹ 86.6 Cr.
- Current Price ₹ 57.4
- High / Low ₹ 100 / 52.9
- Stock P/E 16.5
- Book Value ₹ 38.8
- Dividend Yield 0.00 %
- ROCE 12.2 %
- ROE 13.2 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.0%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -27.2%
- Tax rate seems low
* 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
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 60.21 | 56.28 | 67.13 | 77.95 | 83.11 | |
| 54.19 | 57.26 | 55.99 | 59.99 | 70.52 | |
| Operating Profit | 6.02 | -0.98 | 11.14 | 17.96 | 12.59 |
| OPM % | 10.00% | -1.74% | 16.59% | 23.04% | 15.15% |
| 0.35 | 0.32 | 1.46 | 0.86 | 1.03 | |
| Interest | 1.57 | 1.41 | 1.81 | 1.91 | 2.44 |
| Depreciation | 3.66 | 3.87 | 3.92 | 4.19 | 5.19 |
| Profit before tax | 1.14 | -5.94 | 6.87 | 12.72 | 5.99 |
| Tax % | 227.19% | -3.54% | 15.57% | 29.48% | 12.19% |
| -1.45 | -5.73 | 5.79 | 8.97 | 5.25 | |
| EPS in Rs | -14.50 | -57.30 | 57.90 | 8.15 | 3.48 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 14% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 43% |
| TTM: | -41% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 31% |
| Last Year: | 13% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 1.00 | 1.00 | 1.00 | 11.00 | 15.10 |
| Reserves | 10.70 | 4.96 | 10.76 | 9.73 | 43.45 |
| 20.40 | 15.31 | 20.46 | 22.09 | 37.10 | |
| 16.60 | 15.27 | 17.26 | 21.76 | 22.95 | |
| Total Liabilities | 48.70 | 36.54 | 49.48 | 64.58 | 118.60 |
| 24.31 | 23.67 | 27.04 | 30.65 | 48.10 | |
| CWIP | 0.75 | 0.00 | 3.60 | 8.95 | 10.18 |
| Investments | 5.29 | 0.11 | 0.21 | 0.23 | 16.97 |
| 18.35 | 12.76 | 18.63 | 24.75 | 43.35 | |
| Total Assets | 48.70 | 36.54 | 49.48 | 64.58 | 118.60 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 3.64 | -0.12 | 7.93 | 13.73 | ||
| -5.20 | 2.11 | -11.03 | -13.14 | ||
| 4.50 | -6.47 | 3.36 | -0.22 | ||
| Net Cash Flow | 2.94 | -4.48 | 0.26 | 0.37 | |
| Free Cash Flow | -1.49 | -3.27 | -3.04 | 0.58 | |
| CFO/OP | 52% | 12% | 60% | 98% |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 54.56 | 52.27 | 56.28 | 59.75 | 69.30 |
| Inventory Days | 25.90 | 40.62 | 61.45 | 95.47 | 119.58 |
| Days Payable | 172.38 | 170.83 | 177.12 | 160.28 | 196.43 |
| Cash Conversion Cycle | -91.92 | -77.94 | -59.39 | -5.06 | -7.55 |
| Working Capital Days | -43.95 | -58.82 | -34.74 | -41.53 | -43.87 |
| ROCE % | -17.24% | 32.75% | 38.99% | 12.18% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| B2B Revenue Share % |
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| Number of Patients Served Number |
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| Number of Tests Number |
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| Pathology Revenue Share % |
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| Total Workforce Number |
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Extracted by Screener AI
Documents
Announcements
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Financial Results For The Half Year And Year Ended 31.03.2026
12h - Board approved audited FY2025-26 results on 29 May 2026; auditors issued unmodified opinion.
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Board Meeting Outcome for Outcome Of Board Meeting Under Regulation 30 & 33 Of The SEBI (LODR) Regulations 2015
12h - Board approved FY26 audited results; net profit rose to 525.33 lakh, IPO proceeds partly utilized.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
1d - Company states Regulation 24A annual secretarial compliance report is not applicable.
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Board Meeting Intimation for Intimation Of Board Meeting Under Regulation 29 Of SEBI (LODR) Regulations 2015
21 May - Board meets on 29 May 2026 to approve FY26 results and auditors’ report.
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Disclosure Under Regulation 31(4) Of SEBI (Substantial Acquisition Of Shares And Takeover) Regulations 2011 For The Year Ended 31St March 2026
21 May - Promoters disclosed 72.85% holding and no encumbrance for FY ended 31 March 2026.
Business Profile[1]
Modern Diagnostic & Research Centre Limited is an integrated diagnostic services provider offering pathology and radiology services across India. The company operates a one-stop diagnostic model covering routine, high-end, and specialized tests for patients, hospitals, corporates, and healthcare providers.