|Issue Size- 127- 128 lakh shares||Issue Open/Close – Aug 04/Aug 06, 2021|
|Price Band (Rs) 933- 954||Issue Size- 1,195- 1,213 crore|
|Face Value (Rs) 5||Lot Size (shares) 15|
Krsnaa Diagnostics Limited (“Krsnaa”) was incorporated on 22nd December, 2010 at Pune. Krsnaa is a large and differentiated diagnostic service provider. They provide a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres panIndia.
Krsnaa offers a range of diagnostics imaging services and clinical laboratory tests that include both routine and specialized tests / studies and profiles, which are used for prediction, early detection, diagnostic screening, and confirmation and/or monitoring of diseases. The Company operates one of India’s largest tele-radiology reporting hubs in Pune that is able to process large volumes of X-rays, CT scans and MRI scans round the clock and 365 days a year. Krsnaa provides quality and inclusive diagnostic services at affordable rates. Since inception, they have served more than 23 million patients. As of June 30, 2021, they had a team of 190 radiologists, 30 pathologists, 8 microbiologists and more than 2,800 qualified professionals including clinicians, technicians and operators. Krsnaa focuses on the public private partnership (“PPP”) diagnostics segment and have the largest presence in the diagnostic PPP segment. Their PPP agreements are typically long-term in nature and ensure predictability of their revenues from operations.
Krsnaa has posted net profits for FY21 on account of one-time gains as against losses in earlier years. Considering the FY21 earnings, the issue is aggressively priced at a PE of 80+. In fact, considering the average earnings of previous three fiscal, the issue is quoting at a negative PE. Thus, only cash surplus and high risk investors may Subscribe to the issue while conservative investors may strictly Avoid.
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