Geographical Expansion
Expected: FY26HIGH confidence
What: Export Growth: 15% to 20%
“Exports we are doing pretty well. We are exporting now to 70 countries. TRUPCR Europe is doing pretty well... Made in UK is giving them a very good response.”
3B Blackbio DX Ltd: Is It a Deep Value Opportunity?
Average
As of , 3B Blackbio DX Ltd (Diagnostics) has a deep value score of 55/100 (rated Average). 1Y return vs Nifty 500: -29%.
3B Blackbio DX Ltd Key Facts
- PE Ratio
- 19.3x
- Market Cap
- ₹1,111 Cr
- Value Score
- 55/100
- PAT Growth YoY
- +69%
- Revenue Growth YoY
- +100%
- OPM
- 43.0%
PE: Mid ContractionStrong Opportunity
What's Happening
💎PE falling while earnings hold — value emerging
🌐FII stake decreased 0.6% this quarter
Earnings Acceleration Triggers
1. Geographical Expansion
FY26HIGH
2. Regulatory Approval Or License Win
FY27-28HIGH
3. New Product Or Brand Launch
OngoingMEDIUM
Key Risks
1. Transition to IVDR in Europe is expensive and could turn existing products into
MEDIUM2. War in Congo has delayed/lowered supplies for the HAT contract
MEDIUM3. High manpower costs in Belgium (Coris) are currently leading to EBITDA losses
LOWSector-Specific Signals
Total Addressable Market (India)₹400-500 Cr
Market Share (India)12%-15%Stable
Export Geographies70 countries
Coris One-off Revenue (HAT Contract)₹8.8 Cr
Key Numbers
PAT Growth YoY
+69%
Inflection Up
Revenue YoY
+100%
Inflection Up
Operating Margin
43.0%
-1600 bps YoY
PE Ratio
19.3
PEG Ratio
0.00
Current Price
₹1,294
Dividend Yield
0.31%
3Y PAT CAGR
+14%
Market Cap
1.1K Cr
Valuation
N/AWhy Are 3B Blackbio DX Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 18, 2026
Regulatory Approval Or License Win
Expected: FY27-28HIGH confidence
What: US FDA Approval: 1.5 years
“In parallel we have already started the US FDA work. So most probably in one or maybe less than 1.5 years we should have the US FDA approval.”
New Product Or Brand Launch
Expected: OngoingMEDIUM confidence
What: Product Pipeline: 5 to 7 products/year
“We are adding almost 5 to 7 products every year into our own this thing. So there is enough to do in our industry to actually maintain that growth rate”
Consolidated Revenue growth of 52.9%
MEDIUM confidence
What: Consolidated Revenue growth of 52.9%
“we have closed nine months with a number which is INR99.06 crores versus INR64.80 crores... so there is a huge growth.”
What Are the Key Risks for 3B Blackbio DX Ltd?
Earnings deceleration risks from management commentary
Transition to IVDR in Europe is expensive and could turn existing products into
MEDIUMTrigger: New European regulations require rigorous notified body audits for diagnostic products.
Management view: The company has already started the audit process for 35-40 core products that contribute 95% of revenue.
Monitor: regulatory
War in Congo has delayed/lowered supplies for the HAT contract
MEDIUMTrigger: Regional conflicts disrupt logistics and government procurement cycles.
Impact: PAT impact: ₹8.8 Cr one-off revenue risk
Management view: Focusing on US FDA and other geographies to diversify away from lumpy government contracts.
Monitor: geopolitical
High manpower costs in Belgium (Coris) are currently leading to EBITDA losses
LOWTrigger: Belgium is cited as one of the highest-paid countries for manpower, particularly for R&D teams.
Impact: PAT impact: EBITDA loss of 325k (Euro/GBP implied)
Management view: Planning to increase sales to absorb fixed manpower costs and move toward 2-4% EBITDA margins.
Monitor: labor
What Is 3B Blackbio DX Ltd's Management Saying?
Key quotes from recent conference calls
“While this growth is attracting increased competition, we are hoping to grow at 15%–20% for FY 2025–26 [Previous Revenue Growth guidance]”
“US is a must to have... US is a dominant market for molecular diagnostic. So Coris already has started the process of US FDA. [Initiative: US FDA Approval for Coris]”
“The moment we have this IVDR during next six to nine months, then the IVDR because distributors, labs, now the question is your kit IVDR? [Initiative: IVDR Compliance]”
“if you are not IVDR compliant, then after May 26 whichever products you have not put in an application... that products will become research use. [Risk (regulatory): MEDIUM]”
What Did 3B Blackbio DX Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹99.06 Cr
YoY +52.9%
Why: Growth was primarily driven by the consolidation of Coris Bioconcept numbers following its acquisition in August 2025.
Standalone growth for 3B was lower at 11.8% due to a high base from seasonal spikes in the previous year.
Other Highlights
• Coris acquisition completed on 29th August 2025.
• Exports now reach over 70 countries.
• One-off HAT contract revenue of ₹8.8 Cr included in Coris numbers.
What Sector Metrics Matter for 3B Blackbio DX Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Total Addressable Market (India)
₹400-500 Cr
Market Share (India)
12%-15%
YoY Stable
Why: Management notes it is challenging to grow further given the current market share and nascent stage of molecular diagnostics.
Export Geographies
70 countries
Why: Expansion through the UK subsidiary and new channel partners.
Coris One-off Revenue (HAT Contract)
₹8.8 Cr
Why: Lumpy government contract for African sleeping sickness (HAT).
Post-Deal Cash Position
₹190 Cr
Why: Reflects reserves after the Coris acquisition.
Capacity Utilisation
65%
Why: Operating at 65% currently, dropping to 50% in lean seasons.
Molecular Diagnostic Assays Developed
120+
Why: Continuous R&D efforts.
Average Credit Period
3-4 months
YoY Increasing
Why: Liberal credit policy adopted to sustain competition and manage government supply cycles.
What Is 3B Blackbio DX Ltd's Management Guidance?
Forward-looking targets from management for FY26 Full Year
Revenue Growth Target
10%
OPM Guidance
2–4%
Capex Plan
₹140 Cr
Revenue Outlook
10% to 15%
Capex Plan
₹130-140 Cr
Future Acquisitions
Management Tone: CAUTIOUS
Guidance Changes
LOWERED
Full Year Revenue Growth: 15%-20% → 10%-15%
How Fast Is 3B Blackbio DX Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +100% | +6% | Inflection Up |
| PAT (Net Profit) | +69% | +14% | Inflection Up |
| OPM | 43.0% | -1600 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Frequently Asked Questions: 3B Blackbio DX Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What is 3B Blackbio DX Ltd's deep value score?
3B Blackbio DX Ltd has a deep value score of 55/100 (rated Average). This score is calculated from three components
- Earnings Score: 21/40 — measures PAT growth momentum across quarters
- Underperformance Score: 14/35 — how much the stock trails Nifty 500 (deeper underperformance = higher contrarian signal)
- Quality Score: 12/25 — operational quality (margins, revenue growth, valuation)
Is 3B Blackbio DX Ltd fundamentally improving?
3B Blackbio DX Ltd's quarterly profit (PAT) growth trajectory
- Latest Quarter PAT Growth (QoQ): +49%
- Previous Quarter PAT Growth (QoQ): +19%
- 2 Quarters Ago PAT Growth (QoQ): +57%
- PAT Acceleration: -4.0pp (profits are decelerating)
- 3 consecutive quarters of positive PAT growth
Why is 3B Blackbio DX Ltd underperforming despite good earnings?
3B Blackbio DX Ltd is underperforming the market despite improving earnings — this is the core deep value thesis
- 1-Year Return vs Nifty 500: -29%
- 6-Month Return vs Nifty 500: -1%
- 3-Month Return vs Nifty 500: -19%
- Yet average quarterly PAT growth is +42% — earnings are improving
- The market often takes time to re-rate stocks with improving fundamentals. This gap between price performance and earnings improvement is what deep value research seeks to identify.
What is the earnings momentum for 3B Blackbio DX Ltd?
3B Blackbio DX Ltd's earnings momentum is Decelerating — growth rate is slowing.
- PAT QoQ progression: +57% → +19% → +49% (2Q ago → 1Q ago → latest)
- Acceleration: -4.0pp
- PAT YoY Growth: +69%
Is 3B Blackbio DX Ltd undervalued?
3B Blackbio DX Ltd's valuation metrics
- Price-to-Earnings (PE): 19.1x
- Price-to-Book (PB): 3.7x
- PEG Ratio: 0.0x
What are the revenue and margin trends for 3B Blackbio DX Ltd?
3B Blackbio DX Ltd's revenue and margin trends
- Latest Quarter Revenue Growth (QoQ): +49%
- Average Quarterly Revenue Growth: +33%
- Revenue Acceleration: +24.9pp
- Latest OPM Change: -0.3pp (margins contracting)
- Average OPM Change: +2.6pp
- Revenue YoY: +100%
What is 3B Blackbio DX Ltd's trailing twelve month (TTM) performance?
3B Blackbio DX Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹58 Cr
- TTM PAT Growth: +20.8% YoY
- TTM Revenue: ₹128 Cr
- TTM Revenue Growth: +33.3% YoY
- TTM Operating Margin: 43.3%
What sector does 3B Blackbio DX Ltd belong to?
3B Blackbio DX Ltd key facts
- Sector: Diagnostics
- Market Cap: ₹1.1K Cr
- Rank in Diagnostics: #1 by value score
- Overall rank among all deep value stocks: #34
Is 3B Blackbio DX Ltd a good deep value opportunity to study?
3B Blackbio DX Ltd shows limited deep value signals currently — score is 55/100 (Average). Monitor for improvement.
- Value Score: 55/100 (Average)
- Earnings: Not accelerating
- 1Y Underperformance: -29% vs Nifty 500
What is the bull and bear case for 3B Blackbio DX Ltd?
Research Signals (Bull Case)
- 3 consecutive quarters of positive PAT growth
- Revenue growth also accelerating
- Operating margins expanding
Risk Factors (Bear Case)
- Earnings growth decelerating
- Margin pressure warning
How does the Diagnostics sector look for deep value?
Diagnostics deep value sector overview
- 1 deep value stocks in this sector
- Average value score: 55/100
- Avg PAT acceleration: -4.0pp
- Top pick: 3B Blackbio DX Ltd
What is deep value investing?
Deep value investing studies stocks that are underperforming the market despite showing improving fundamentals. The thesis is that the market has not yet recognized the earnings recovery, creating a potential valuation gap. It requires patience — recovery can take several quarters.
How is the deep value score calculated?
The deep value score (0-100) combines three factors:
- Earnings (0-40 pts): PAT growth across last 3 quarters, acceleration, and consecutive growth - Underperformance (0-35 pts): How much the stock trails Nifty 500 over 1Y, 6M, 3M (deeper underperformance = higher score) - Quality (0-25 pts): Revenue growth, margin trends, and valuation metrics (PEG, P/B)
Higher score indicates a stronger contrarian research signal.
What are the growth catalysts for 3B Blackbio DX Ltd?
3B Blackbio DX Ltd has 4 key growth catalysts identified from recent earnings analysis
- Geographical Expansion
- Regulatory Approval Or License Win
- New Product Or Brand Launch
- Consolidated Revenue growth of 52.9%
What are the key risks in 3B Blackbio DX Ltd?
3B Blackbio DX Ltd has 3 key risks worth monitoring
- Transition to IVDR in Europe is expensive and could turn existing products into
- War in Congo has delayed/lowered supplies for the HAT contract
- High manpower costs in Belgium (Coris) are currently leading to EBITDA losses
What did 3B Blackbio DX Ltd's management say in the latest earnings call?
In Q3 FY26, 3B Blackbio DX Ltd's management highlighted
- "While this growth is attracting increased competition, we are hoping to grow at 15%–20% for FY 2025–26 [Previous Revenue Growth guidance]"
- "US is a must to have... US is a dominant market for molecular diagnostic. So Coris already has started the process of US FDA. [Initiative: US FDA App..."
- "The moment we have this IVDR during next six to nine months, then the IVDR because distributors, labs, now the question is your kit IVDR? [Initiative..."
The above FAQs are generated from publicly available earnings data. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.