Krsnaa Diagnostics Limited

Rs. 295

rsnaa Diagnostics Financial- At a Glance Krsnaa Diagnostics H1 FY24 Financial- Accelerated Growth Rs. 295 cr H1 FY24 Revenue Rs. 74 cr | 25%* H1 FY24 EBITDA and EBITDA Margin Rs. 49 cr | 16%** H1 FY24 EB

Rs. 74

At a Glance Krsnaa Diagnostics H1 FY24 Financial- Accelerated Growth Rs. 295 cr H1 FY24 Revenue Rs. 74 cr | 25%* H1 FY24 EBITDA and EBITDA Margin Rs. 49 cr | 16%** H1 FY24 EBIT and EBIT Margin Rs. 35

25%

Krsnaa Diagnostics H1 FY24 Financial- Accelerated Growth Rs. 295 cr H1 FY24 Revenue Rs. 74 cr | 25%* H1 FY24 EBITDA and EBITDA Margin Rs. 49 cr | 16%** H1 FY24 EBIT and EBIT Margin Rs. 35 cr | 12%

Rs. 49

Accelerated Growth Rs. 295 cr H1 FY24 Revenue Rs. 74 cr | 25%* H1 FY24 EBITDA and EBITDA Margin Rs. 49 cr | 16%** H1 FY24 EBIT and EBIT Margin Rs. 35 cr | 12%** H1 FY24 PAT and PAT Margin 25% Revenue

16%

Growth Rs. 295 cr H1 FY24 Revenue Rs. 74 cr | 25%* H1 FY24 EBITDA and EBITDA Margin Rs. 49 cr | 16%** H1 FY24 EBIT and EBIT Margin Rs. 35 cr | 12%** H1 FY24 PAT and PAT Margin 25% Revenue YoY Gr

Rs. 35

Rs. 74 cr | 25%* H1 FY24 EBITDA and EBITDA Margin Rs. 49 cr | 16%** H1 FY24 EBIT and EBIT Margin Rs. 35 cr | 12%** H1 FY24 PAT and PAT Margin 25% Revenue YoY Growth A (Stable) ICRA Rating 18% Norma

12%

25%* H1 FY24 EBITDA and EBITDA Margin Rs. 49 cr | 16%** H1 FY24 EBIT and EBIT Margin Rs. 35 cr | 12%** H1 FY24 PAT and PAT Margin 25% Revenue YoY Growth A (Stable) ICRA Rating 18% Normalized P

18%

Rs. 35 cr | 12%** H1 FY24 PAT and PAT Margin 25% Revenue YoY Growth A (Stable) ICRA Rating 18% Normalized PAT** YoY Growth 100% Technical Bid Win Ratio 25% Normalized EBITDA* YoY Growth

100%

d PAT Margin 25% Revenue YoY Growth A (Stable) ICRA Rating 18% Normalized PAT** YoY Growth 100% Technical Bid Win Ratio 25% Normalized EBITDA* YoY Growth Rs. 236 cr Cash and Cash Equivalent

Rs. 236

Normalized PAT** YoY Growth 100% Technical Bid Win Ratio 25% Normalized EBITDA* YoY Growth Rs. 236 cr Cash and Cash Equivalent 97 Receivable Days H1FY24 (H1FY23: 87 days) Test Prices Lower by 6

60%

cr Cash and Cash Equivalent 97 Receivable Days H1FY24 (H1FY23: 87 days) Test Prices Lower by 60% to 80% Krsnaa continues to maintain steady growth in EBITDA margins Notes: *Normalised EBITDA is

80%

h and Cash Equivalent 97 Receivable Days H1FY24 (H1FY23: 87 days) Test Prices Lower by 60% to 80% Krsnaa continues to maintain steady growth in EBITDA margins Notes: *Normalised EBITDA is excludi

“The diagnostic market is projected to reach approximately Rs.1,200 billion by FY28 with a compelling compound growth rate of 8%-10% anticipated in the years ahead is with great pleasure that It I announce our successful execution of an agreement for the Assam Pathology tender, a significant opportunity that encompasses 10 Labs and 1,256 collection centers.”

“We anticipate a positive trajectory in margins as these centers mature over the upcoming quarters.”

“Bn) Budgetary Allocation 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% • From FY18 to FY24BE, the budgetary allocation for healthcare has grown at a CAGR of 9%.”

“The overall industry is expected to reach a market size of Rs.1,200 billion, logging a CAGR of 8-10%.”

“bn 6% decline due to covid 5.6% decline due to covid 313 FY18 466 FY22 437 FY23 640-710 FY28E 224 FY18 357 FY22 337 FY23 510-540 FY28E Indian Pathology Market • Indian Pathology diagnostic segment expanded at a CAGR of 10.5% over FY18-22 to Rs.466 bn.”

“Revenue from covid-19 and allied tests is expected to moderate further in FY24E, whereas core business growth shall pick up, resulting in a CAGR of 8–10% over FY23–28E..”

“Indian Radiology Market • The Indian radiology segment turned in a CAGR of 12.3% over FY18–22; however, it declined 5.6% in FY23 due to covid.”

“• Over FY23–28E, the segment is poised to expand at a CAGR of 9–11%.”

“• The overall market for wellness and preventive diagnostics — which was ~8% of the total pathology diagnostics segment as of FY18 — is expected to grow at a healthy rate of 13.5-15.5% between FY23 and FY28, led by major factors which include rising disposable incomes, increase in urbanization and increasing awareness about prevention and wellness following Covid-19.”

“Maturity is on the basis of the project start date 3.”

Notes

6

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1

Notes

*Normalised EBITDA is excluding CSR, ESOP and operational expenses incurred due to ongoing implementation of newly won 2 projects across geographies aggregating Rs 9.7 crs wherein revenue is not proportionate to these expenses ** Normalised EBIT is excluding above mentioned expenses, IND AS Impact on long term lease for the above-mentioned projects aggregating to Rs. 2.5 crs and including Other Income. Normalized PAT is excluding above mentioned expenses. Financial results of the Company are best monitored on an annualized basis due to the seasonal nature of our business and ongoing expansion activities as a result of which specific quarter performance may be impacted by specific events in that quarter 3 Krsnaa Diagnostics Financial- At a Glance Krsnaa Diagnostics Q2 FY24 Financial- At a Glance Rs. 155 cr Q2 FY24 Revenue Rs. 39 cr | 25%* Q2 FY24 EBITDA* and EBITDA Margin* Rs. 26 cr | 16%** Q2 FY24 EBIT** and EBIT Margin Rs. 18 cr | 12%** Q2 FY24 PAT** and PAT Margin 26% Revenue YoY Gro

Notes

*Normalised EBITDA is excluding CSR, ESOP and operational expenses incurred due to ongoing implementation of newly won 2 projects across geographies aggregating Rs 7 crs wherein revenue is not proportionate to these expenses ** Normalised EBIT is excluding above mentioned expenses, IND AS Impact on long term lease for the above-mentioned projects aggregating to Rs. 2.5 crs and including Other Income. Normalized PAT is excluding above mentioned expenses. Financial results of the Company are best monitored on an annualized basis due to the seasonal nature of our business and ongoing expansion activities as a result of which specific quarter performance may be impacted by specific events in that quarter 4 Krsnaa Diagnostics Operations- At a Glance Krsnaa Diagnostics H1 FY24 Operations- At a Glance 1,377 Tele-reporting Centres 134 CT/MRI Centres 112 Pathology Processing Lab 1,429 Pathology Collection Centres 240+ Doctors 3,052 Total Centres and Labs 125+ District Locations 17+ States & Uni

Notes

1.*Normalised EBITDA is excluding CSR, ESOP and operational expenses incurred due to ongoing implementation of newly won 2 projects across geographies aggregating Rs 9.7 crs wherein revenue is not proportionate to these expenses 2. ** Normalised EBIT is excluding above mentioned expenses, IND AS Impact on long term lease for the above-mentioned projects aggregating to Rs. 2.5 crs and including Other Income. Normalized PAT is excluding above mentioned expenses. 6 Financial results of the Company are best monitored on an annualized basis due to the seasonal nature of our business and ongoing expansion activities as a result of which specific quarter performance may be impacted by specific events in that quarter Core Business Continues to Grow Core Business Continues to Grow Delivering Excellence: Achieving 26% YoY Revenue Growth and 27% EBITDA Strengthening, with a Promising Future through New Center Initiatives Total Revenue Core Business Revenue Rs. mn 26% YoY 1,396 1,229 1,555 1,226 2

Notes

1 *Normalised EBITDA is excluding CSR, ESOP and operational expenses incurred due to ongoing implementation of newly won 2 projects across geographies aggregating Rs 7 crs wherein revenue is not proportionate to these expenses 2 ** Normalised EBIT is excluding above mentioned expenses, IND AS Impact on long term lease for the above-mentioned projects aggregating to Rs. 2.5 crs and including Other Income. Normalized PAT is excluding above mentioned expenses. 7 Financial results of the Company are best monitored on an annualized basis due to the seasonal nature of our business and ongoing expansion activities as a result of which specific quarter performance may be impacted by specific events in that quarter Core Business Continues to Grow Well Capitalized Balance Sheet to Fund the Growth (Rs. mn) Long Term Debt Short Term Debt Total Debt Cash & Cash Equivalents Net Debt / (Net Cash) Total Equity FY19 FY20 FY21 FY22 FY23 H1FY23 H1FY24 937 772 1,709 1,281 428 1,890 1,400 1,112 2,512 1,379

Notes

1. 2. Maturity is on the basis of the project start date 3. Return on Capital Employed calculated as (EBIT including Other Income / Gross Block) 26 B2C Pathology Strategy for FY2024 B2C Pathology Strategy Expanding test menus by adding more specialized tests at competitive prices Core strategy is to set up and operationalize Home Collection Hub and Preventive Health check up promotion in Two Phases Molecular Diagnostics Flow Cytometry Histopathology & IHC Markers Genetics (NGS) Digital Pathology & AI Specialised Test Phase I – Maharashtra, Punjab Phase II – Odisha, Assam, Rajasthan Map of India is not to scale and for representation purposes only 27 Retail Market Expansion Strategy Leveraging Digital Initiatives Retail Market Expansion Strategy Leveraging Digital Initiatives R&A – Customer Review Social Media Customer Call Centre Hub Dedicated Website Customer Engagement Strategy WhatsApp Business Tool Mobile Application 28 Enhancing Visibility and Awareness Enhancing Visibility and Aw

Notes

1. EBITDA is excluding CSR & ESOP. EBIT is including Other Income 2 Normalized EBITDA is excluding CSR, ESOP and operational expenses incurred due to ongoing implementation of newly won 2 projects across geographies aggregating Rs.7 crs in Q2 and Rs.2.7 crs in Q1. wherein revenue is not proportionate to these expenses. Normalized EBIT is excluding above mentioned expenses, IND AS Impact on long term lease for the above-mentioned projects aggregating to Rs. 2.5 crs and including Other Income. Normalized PAT is excluding above mentioned expenses. Financial results of the Company are best monitored on an annualized basis due to the seasonal nature of our business and ongoing expansion activities as a result of which specific quarter performance may be impacted by specific events in that quarter 37 Quarterly Financial Performance Balance Sheet Assets (Rs. mn) H1FY23 H1FY24 Equity and Liabilities (Rs. mn) H1FY23 H1FY24 Non-Current Assets Property, plant and equipment Capital work-in-progres