Molbio Diagnostics Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Molbio Diagnostics Ltd trades at ₹1,513, between stages. That is +38.5% against its own 200-day average. It sits at 100% of a 52-week range of ₹1,037 to ₹1,513. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.

Today the stock is between stages. At ₹1,513 it trades +38.5% versus its 200-day average and sits at 100% of its 52-week range (₹1,037–₹1,513).

Against the market, two honest reads. Cumulative: over the last 1 months the stock moved +45% while the NIFTY 500 moved −7% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Molbio Diagnostics Ltd trades at 69.8× P/E, against too little history to rank. Its long-run median P/E is 82.8×, measured across 0.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 69.8× is against too little history to rank, against a long-run median of 82.8× measured over 0.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

The PEG ratio, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Molbio Diagnostics Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Molbio Diagnostics Ltd reported ₹408 Cr of revenue in the Jun 26 quarter, +308.0% year on year. Over 5 years it has compounded at 2.6% a year. The last full year, FY26, came in at ₹1,446 Cr.

FY26 revenue came in at ₹1,446 Cr (+41.8% on the year), capping 5 years at 2.6% compound. The latest quarter (Jun 26) printed ₹408 Cr, +308.0% year on year.

Pace check: the last four quarters averaged +308.0% growth against the decade's 2.6% — the current year is running faster than its own long-run rate.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Molbio Diagnostics Ltd's operating margin is 25.0% in the Jun 26 quarter, +41.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 12.0% to 47.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 25.0%, +41.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 12.0%–47.0%.

Why: the numbers show the operating margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Molbio Diagnostics Ltd earned ₹53.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹164 Cr. The 5-year compound rate is −16.7%. That is 13.0% of the quarter's revenue.

Jun 26 profit was ₹53.0 Cr, null year on year. On the full year, FY26 printed ₹164 Cr (+18.0%), and the 5-year compound rate is −16.7%.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 90% of Molbio Diagnostics Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹50.0 Cr of operating cash against ₹164 Cr of profit. After ₹294 Cr of capital spending, ₹−244 Cr was left as free cash.

FY26: operating cash of ₹50.0 Cr against reported profit of ₹164 Cr, leaving free cash of ₹−244 Cr after ₹294 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 90% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 90%: the cash cycle stretched 63 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 3.4× depreciation over three years, so the next section's job is to check what that build-out is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Molbio Diagnostics Ltd's cash conversion cycle runs 261 days in FY26, up from 198 days in FY21. Capital spending ran ₹508 Cr over the last 3 years. At FY26 sales of ₹1,446 Cr each day of that cycle holds about ₹4.0 Cr, so roughly ₹1,034 Cr sits inside the business at any moment.

FY26: debtors at 103 days, inventory at 285 days — roughly 9.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 261 days, looser than FY21's 198.

The full loop: cash goes out to suppliers and production on day 0; stock waits 285 days to sell; customers pay about 103 days after that; and suppliers themselves are paid at 126 days — netting out to the 261-day cycle.

In money terms: at FY26 sales of ₹1,446 Cr, each day of the cycle holds about ₹4.0 Cr — so the 261-day loop keeps roughly ₹1,034 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹508 Cr over the last 3 fiscal years against ₹150 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹11.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Molbio Diagnostics Ltd earns a ROCE of 18% in FY26. That is up from a trough of 4% in FY23. Return on invested capital clears the cost of that capital by +7.4 percentage points, so growth here adds value rather than only size. The wiring behind it is 11.3% net margin on 0.68× asset turns.

FY26 ROCE is 18%, recovered from a FY23 trough of 4% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 11.3% net margin × 0.68× asset turns × 1.81× balance-sheet leverage ≈ 13.9% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 19.4% − 12.0% = a +7.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Molbio Diagnostics Ltd carries ₹450 Cr of borrowings against ₹1,169 Cr of equity in FY26, a debt-to-equity of 0.38. Operating profit covers the interest bill 10×. Over 5 years borrowings went from ₹257 Cr to ₹450 Cr. Capital spending ran ₹508 Cr across the last 3 of those years.

FY26: borrowings of ₹450 Cr against equity of ₹1,169 Cr — a debt-to-equity of 0.38. Operating profit covers the interest bill 10×. Over 5 years borrowings went from ₹257 Cr to ₹450 Cr while capital spending ran ₹508 Cr in just the last 3 — part of the build-out is riding on borrowed money.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Molbio Diagnostics Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Molbio Diagnostics Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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