Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Vijaya Diagnostic Centre Ltd

VIJAYA
Diagnostics

Vijaya Diagnostic Centre Ltd is strength at full price. The numbers are improving — and a P/E at the 92nd percentile of its own range says the market knows.

The sharpest disagreement: the engine is strong, but at the 92nd percentile of its own range you are paying full price for it.

The price is in a confirmed uptrend (12 weeks in) while the P/E sits at the 92nd percentile of its own 5-year range. Underneath, the last four quarters read improving — profit +37.1% year on year, and 155% of the last 3 years' profit arrived as cash. What settles it: whether the earnings grow into the multiple.

Stage
Consistent
fundamental trajectory, 12 quarters
Price
₹1,344
+24.1% 1Y
P/E
80.0×
92nd pctile
of its own 5-year range
Revenue (Mar 26)
₹219 Cr
+26.6% YoY
Profit (Mar 26)
₹48.0 Cr
+37.1% YoY
Operating margin
44.0%
+4.0 pp YoY
ROCE
21%
FY26
ROIC
18.0%
vs WACC 12.0% → +6.0 pp
Cash conversion
155%
of profit, last 3 FY
01 · Price story

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.

Vijaya Diagnostic Centre Ltd trades at ₹1,344, in a confirmed uptrend and 12 weeks into that stage. That is +17.3% against its own 200-day average. It sits at 91% of a 52-week range of ₹870 to ₹1,389. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (3 weeks and counting).

Today the stock is in a confirmed uptrend — week 12 of stage 2, confirmed. At ₹1,344 it trades +17.3% versus its 200-day average and sits at 91% of its 52-week range (₹870–₹1,389).

Jul 26: ₹1,344 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+17.3% versus the 200-day line, week 12 of stage 2
Price50-day avg200-day avg
S2S2S3S4S2₹1,467₹1,186₹904₹623₹342₹1,344₹1,146Jul 23May 24Feb 25Nov 25Jul 26
S2S2S3S4S2₹1,467₹1,186₹904₹623₹342₹1,344₹1,146Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2021 Each cell is one week from 2021 to now (261 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Sep 21Jul 26

Against the market, two honest reads. Cumulative: over the last 4.9 years the stock moved +114% while the NIFTY 500 moved +57% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (3 weeks and counting; last ahead the week of 2026-07-10) — 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.

02 · Valuation

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.

Vijaya Diagnostic Centre Ltd trades at 80.0× P/E, at the pricey end of its own range (92nd percentile). Its long-run median P/E is 61.9×, measured across 4.9 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 80.0× is at the pricey end of its own range (92nd percentile), against a long-run median of 61.9× measured over 4.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 80.0× vs a 61.9× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 4.9-year window; loss-period spikes above 86× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (92nd percentile)
P/EMedianEPS (TTM) (quarterly)
90.6×₹20.172.1×₹15.153.5×₹10.034.9×₹5.016.4×₹0.0×80.00×₹17Sep 21Dec 22Mar 24Jun 25Jul 26
90.6×₹20.172.1×₹15.153.5×₹10.034.9×₹5.016.4×₹0.0×80.00×₹17Sep 21Mar 24Jul 26
PEG 2.13 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Last 18 quarters.
above 1.0, the multiple already banks the growth
PEGPEG = 1.0
3.6×2.9×2.2×1.5×0.8××2.13×Q3 FY22Q3 FY23Q3 FY24Q3 FY25Q4 FY26
3.6×2.9×2.2×1.5×0.8××2.13×Q3 FY22Q3 FY24Q4 FY26
P/E
80.0×
92nd percentile of 5y
PEG
2.88
as reported

Why the multiple sits where it does: over the past year annual EPS moved +20.6% against a +24.1% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +16.5%/yr price move, ~−2.0%/yr came from earnings growth and ~+18.5 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

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

03 · Stage: Consistent

Stage: Consistent 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).

Vijaya Diagnostic Centre Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 21.3% and holding. The read is built from 12 quarters across 4 curves, on full evidence.

Growth, year by year: revenue +19.5% in FY26, profit +20.1% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
26%51%19%14%12%−23%4.6%−60%−2.6%−97%%%19.5%20.1%FY18FY22FY26
26%51%19%14%12%−23%4.6%−60%−2.6%−97%%%19.5%20.1%FY18FY22FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit stabilising
RevenueProfitEPS
31%46%24%34%18%21%12%8.1%5.5%−4.6%%%19.5%20.1%20.3%Jun 23Sep 24Mar 26
31%46%24%34%18%21%12%8.1%5.5%−4.6%%%19.5%20.1%20.3%Jun 23Sep 24Mar 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
24%22%21%20%19%%21.3%Jun 23Dec 23Sep 24Jun 25Mar 26
24%22%21%20%19%%21.3%Jun 23Sep 24Mar 26
Revenue growth
Steady high
latest +19.5% · span +7.2% to +29.0%
Profit growth
Steady high
latest +20.1% · span −1.1% to +42.9%
EPS growth
Steady high
latest +20.3% · span −1.0% to +40.3%
ROCE
Steady high
latest 21.3% · span 19.1%–23.2%

Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+19.5%+21.0%+16.6%
Profit+20.1%+26.7%+15.3%
EPS+20.6%+26.6%−2.0%
Share price+24.1%+43.7%+16.5%
Revenue YoY (Mar 26)
+26.6%
latest quarter vs a year ago
Profit YoY (Mar 26)
+37.1%
latest quarter vs a year ago
Revenue 10y
15.8%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

58.8/100 — rank 5 of 9 in Diagnostics · 96% evidence confidence

Vijaya Diagnostic Centre Ltd scores 58.8 out of 100 against the 9 companies it is compared with in Diagnostics, ranking 5. Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.

The four contributions add to the total exactly: 20.1 + 18.5 + 6.4 + 13.8 = 58.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

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

Vijaya Diagnostic Centre Ltd reported ₹219 Cr of revenue in the Mar 26 quarter, +26.6% year on year. That is the 12th straight quarter of year-on-year growth. Over 8 years it has compounded at 15.8% a year. The last full year, FY26, came in at ₹814 Cr. The last four reported quarters add to ₹814 Cr.

FY26 revenue came in at ₹814 Cr (+19.5% on the year), capping 8 years at 15.8% compound. The latest quarter (Mar 26) printed ₹219 Cr, +26.6% year on year — the 12th consecutive quarter of year-over-year growth.

FY26 revenue ₹814 Cr (+19.5% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 9-year window. A bar is red when it is lower than the year before.
15.8% a year over 8 years
RevenueYoY growth
87926%65919%44012%2204.6%0−2.6%₹ Cr%₹81419.5%FY18FY22FY26
87926%65919%44012%2204.6%0−2.6%₹ Cr%₹81419.5%FY18FY22FY26
Mar 26: ₹219 Cr (+26.6% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
12th straight quarter of growth
Revenue (quarterly)YoY growth
23733%17727%11821%5915%08.7%₹ Cr%₹21926.6%Jun 23Sep 24Mar 26
23733%17727%11821%5915%08.7%₹ Cr%₹21926.6%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +19.7% growth against the decade's 15.8% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +19.5% over the last 4 quarters against +21.9%/yr over the last 8 — stabilising; TTM profit +20.1% vs +20.1%/yr — stabilising.

06 · Operating margin

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.

Vijaya Diagnostic Centre Ltd's operating margin is 44.0% in the Mar 26 quarter, +4.0 percentage points against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 32.0% to 44.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 44.0%, +4.0 pp against the same quarter a year ago. Across 9 fiscal years the operating margin has ranged 32.0%–44.0%.

Why the margin moved: operating margin went +3.8 pp year on year while gross margin went +1.4 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 41.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 9-year window.
within a 32.0–44.0% band over 9 years
operating marginYoY change (pp)
45%5.7%41%3.1%38%0.5%35%−2.1%31%−4.7%%%41%1%FY18FY22FY26
45%5.7%41%3.1%38%0.5%35%−2.1%31%−4.7%%%41%1%FY18FY22FY26
Mar 26: 44.0% operating margin (+4.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
44%4.4%43%3.0%42%1.5%40%0.0%39%−1.4%%%44%4%Jun 23Sep 24Mar 26
44%4.4%43%3.0%42%1.5%40%0.0%39%−1.4%%%44%4%Jun 23Sep 24Mar 26
07 · Net profit

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

Vijaya Diagnostic Centre Ltd earned ₹48.0 Cr of net profit in the Mar 26 quarter, +37.1% year on year. It is the 12th consecutive quarter of growth. Full-year FY26 profit was ₹173 Cr. The 8-year compound rate is 22.1%. That is 21.9% of the quarter's revenue. The same quarter a year earlier earned ₹35.0 Cr.

Mar 26 profit was ₹48.0 Cr, +37.1% year on year — the 12th consecutive quarter of growth. On the full year, FY26 printed ₹173 Cr (+20.1%), and the 8-year compound rate is 22.1%.

FY26 profit ₹173 Cr (+20.1% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 9-year window. A bar is red when it is lower than the year before.
22.1% a year over 8 years
Net profitYoY growth
18746%14028%938.9%47−9.8%0−29%₹ Cr%₹17320.1%FY18FY22FY26
18746%14028%938.9%47−9.8%0−29%₹ Cr%₹17320.1%FY18FY22FY26
Mar 26: ₹48.0 Cr (+37.1% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
12th straight quarter of growth
Net profit (quarterly)YoY growth
5267%3950%2632%1315%0−2.4%₹ Cr%₹4837.1%Jun 23Sep 24Mar 26
5267%3950%2632%1315%0−2.4%₹ Cr%₹4837.1%Jun 23Sep 24Mar 26

Why profit moved: revenue contributed +26.6% and the margin +4.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +21.1% vs revenue +19.7%. Profit and revenue are moving roughly in step.

08 · Cash flow — the router

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 155% of Vijaya Diagnostic Centre Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹271 Cr of operating cash against ₹173 Cr of profit. After ₹261 Cr of capital spending, ₹10.0 Cr was left as free cash.

FY26: operating cash of ₹271 Cr against reported profit of ₹173 Cr, leaving free cash of ₹10.0 Cr after ₹261 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 155% of profit.

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

FY26: CFO ₹271 Cr vs profit ₹173 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 9-year window, annual resolution.
155% of 3-year profit arrived as cash
Operating cashNet profitFree cash
30019591−13−118₹ Cr₹271₹173₹10FY18FY22FY26
30019591−13−118₹ Cr₹271₹173₹10FY18FY22FY26
FY26: CFO = 157% of profit (three-year rate 155%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
206%177%149%121%92%%157%FY18FY22FY26
206%177%149%121%92%%157%FY18FY22FY26

Why conversion sits at 155%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.

Router verdict: the bigger cash user is investment — capital spending ran 3.5× depreciation over three years, so the next section's job is to check what that build-out is buying.

09 · Where the cash goes

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).

Vijaya Diagnostic Centre Ltd's cash conversion cycle runs −117 days in FY26, up from −118 days in FY21. Capital spending ran ₹772 Cr over the last 3 years. At FY26 sales of ₹814 Cr each day of that cycle holds about ₹2.2 Cr, so roughly ₹−261 Cr sits inside the business at any moment.

FY26: debtors at 9 days, inventory at 19 days — roughly 0.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −117 days, looser than FY21's −118.

The full loop: cash goes out to suppliers and production on day 0; stock waits 19 days to sell; customers pay about 9 days after that; and suppliers themselves are paid at 145 days — netting out to the −117-day cycle.

In money terms: at FY26 sales of ₹814 Cr, each day of the cycle holds about ₹2.2 Cr — so the −117-day loop keeps roughly ₹−261 Cr sitting inside the business at any moment.

FY26: a −117-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 9-year window.
+1 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
22512016−89−194days−117d19d9d145dFY18FY20FY22FY24FY26
22512016−89−194days−117d19d9d145dFY18FY22FY26

On the investment side: capital spending of ₹772 Cr over the last 3 fiscal years against ₹220 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹34.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹261 Cr, work-in-progress ₹34.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
282211141700₹ Cr₹261₹34FY19FY20FY22FY24FY26
282211141700₹ Cr₹261₹34FY19FY22FY26

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

10 · Return on capital

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.

Vijaya Diagnostic Centre Ltd earns a ROCE of 21% in FY26. That is up from a trough of 18% in FY23. Return on invested capital clears the cost of that capital by +6.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 21.3% net margin on 0.54× asset turns.

FY26 ROCE is 21%, recovered from a FY23 trough of 18% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 21.3% net margin × 0.54× asset turns × 1.57× balance-sheet leverage ≈ 18.1% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 18.0% − 12.0% = a +6.0 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.

FY26: ROCE 21% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 8-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY23's 18%
ROCEROIC (annual)WACC
34%28%22%16%10%%21%18.9%FY19FY22FY26
34%28%22%16%10%%21%18.9%FY19FY22FY26
Q4 FY26: ROCE 17.7% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
22%20%17%14%11%%17.7%18.8%Q1 FY24Q2 FY25Q4 FY26
22%20%17%14%11%%17.7%18.8%Q1 FY24Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Vijaya Diagnostic Centre Ltd carries total debt of ₹423 Cr against shareholder equity of ₹957 Cr as of Mar 26, a debt-to-equity of 0.44. On the annual view that ratio went from 0.39 in FY22 to 0.44 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹423 Cr against shareholder equity of ₹957 Cr — a debt-to-equity of 0.44. On the annual view, debt-to-equity went from 0.39 (FY22) to 0.44 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹423 Cr at 0.44× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
4570.45×3430.44×2280.42×1140.40×00.39×₹ Cr×₹4230.44×FY22FY24FY26
4570.45×3430.44×2280.42×1140.40×00.39×₹ Cr×₹4230.44×FY22FY24FY26
Mar 26: debt ₹423 Cr, debt-to-equity 0.44 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
4570.45×3430.44×2280.42×1140.40×00.39×₹ Cr×₹4230.44×Jun 23Sep 24Mar 26
4570.45×3430.44×2280.42×1140.40×00.39×₹ Cr×₹4230.44×Jun 23Sep 24Mar 26
12 · Ownership

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.

Domestic institutions added 10.1 points of Vijaya Diagnostic Centre Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 31.6% of the company. Foreign institutions moved −8.4 points over the same window, to 11.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: +10.1 points over 8 quarters to 31.6%; Foreign institutions: −8.4 points over 8 quarters to 11.7%; Promoters: −1.4 points over 8 quarters to 52.5%.

Why the register moved: rotation — foreign institutions −8.4 points against domestic institutions +10.1 points over 8 quarters, with promoters −1.4 points — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

Fiscal-year ends: promoters −1.6 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
58%44%29%14%0.0%%52.5%13.4%29.9%4.2%Mar 24Mar 25Mar 26
58%44%29%14%0.0%%52.5%13.4%29.9%4.2%Mar 24Mar 25Mar 26
Domestic institutions added 10.1 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
59%44%29%14%0.0%%52.5%11.7%31.6%4.2%Jun 23Dec 24Jun 26
59%44%29%14%0.0%%52.5%11.7%31.6%4.2%Jun 23Dec 24Jun 26
13 · Safety line

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.

Vijaya Diagnostic Centre 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.

14 · Related companies · Diagnostics
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Thyrocare Technologies LtdTHYROCARE 77.4/100Favorable setup100% evidence LEADER 27.9/35 Revenue 21.3% · PAT 67.6% · OPM change 2 pp 100% evidence 18.1/25 ROCE 35.4% · OPM 32% 100% evidence 12.0/20 P/E 51× · PEG 1.1 100% evidence 19.4/20 RS sector 16.8% · RS bench 27.8% · 1Y 32.4%12 of 12 weeks ahead 100% evidence
Exact sum: 27.9 + 18.1 + 12 + 19.4 = 77.4 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Dr Lal Pathlabs LtdLALPATHLAB 63.3/100Mixed-positive evidence100% evidence LEADER 14.6/35 Revenue 14.3% · PAT 5% · OPM change 2 pp 100% evidence 16.8/25 ROCE 28% · OPM 31% 100% evidence 13.0/20 P/E 56.8× · PEG 1.29 100% evidence 18.9/20 RS sector 11.6% · RS bench 22.5% · 1Y 23.8%12 of 12 weeks ahead 100% evidence
Exact sum: 14.6 + 16.8 + 13 + 18.9 = 63.3 · Decision use: Price leads the evidence: RS versus the benchmark is 22.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
3Metropolis Healthcare LtdMETROPOLIS 60.1/100Mixed-positive evidence96% evidence LEADER 27.2/35 Revenue 23.7% · PAT 31.7% · OPM change 7 pp 88% evidence 11.7/25 ROCE 17.8% · OPM 25% 100% evidence 6.3/20 P/E 62.3× · PEG 2.4 100% evidence 14.9/20 RS sector 4.3% · RS bench 14.4% · 1Y 18.3%12 of 12 weeks ahead 100% evidence
Exact sum: 27.2 + 11.7 + 6.3 + 14.9 = 60.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4One Global Service Provider Ltd514330 59.8/100Mixed-positive evidence78% evidence TURNING 24.9/35 Revenue 100% · PAT 100% · OPM change -8 pp 83% evidence 16.5/25 ROCE 87% · OPM 18% 76% evidence 10.1/20 P/E 15.9× · PEG — 50% evidence 8.3/20 RS sector 1.3% · RS bench 10.9% · 1Y 121.4%2 of 12 weeks ahead 100% evidence
Exact sum: 24.9 + 16.5 + 10.1 + 8.3 = 59.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Vijaya Diagnostic Centre Ltdthis pageVIJAYA 58.8/100Mixed-positive evidence96% evidence LEADER 20.1/35 Revenue 19.5% · PAT 20.1% · OPM change 4 pp 88% evidence 18.5/25 ROCE 21.3% · OPM 44% 100% evidence 6.4/20 P/E 80× · PEG 1.46 100% evidence 13.8/20 RS sector 11.3% · RS bench 21.8% · 1Y 25.6%12 of 12 weeks ahead 100% evidence
Exact sum: 20.1 + 18.5 + 6.4 + 13.8 = 58.8 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
63B Blackbio DX Ltd3BBLACKBIO 48.6/100Mixed-negative evidence83% evidence TURNING 15.2/35 Revenue 47.1% · PAT 25.7% · OPM change -11.2 pp 83% evidence 15.8/25 ROCE 25.5% · OPM 24% 95% evidence 11.8/20 P/E 18.3× · PEG — 50% evidence 5.8/20 RS sector -17.6% · RS bench -9.3% · 1Y -13.2%0 of 12 weeks ahead 100% evidence
Exact sum: 15.2 + 15.8 + 11.8 + 5.8 = 48.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Krsnaa Diagnostics LtdKRSNAA 43.0/100Mixed-negative evidence77% evidence ASLEEP 13.4/35 Revenue 7.8% · PAT 30.8% · OPM change 0 pp 83% evidence 10.5/25 ROCE 12.7% · OPM 28% 95% evidence 14.6/20 P/E 16.9× · PEG — 50% evidence 4.5/20 RS sector -18.5% · RS bench -23.4% · 1Y -38.1%0 of 10 weeks ahead 70% evidence
Exact sum: 13.4 + 10.5 + 14.6 + 4.5 = 43 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
8Suraksha Diagnostic LtdSURAKSHA 39.0/100Mixed-negative evidence76% evidence ASLEEP 13.8/35 Revenue 23.1% · PAT 1.4% · OPM change 0.5 pp 83% evidence 13.0/25 ROCE 17% · OPM 29.9% 95% evidence 10.4/20 P/E 40.8× · PEG — 15% evidence 1.8/20 RS sector -20.4% · RS bench -12.3% · 1Y -17.8%4 of 12 weeks ahead 100% evidence
Exact sum: 13.8 + 13 + 10.4 + 1.8 = 39 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Vimta Labs LtdVIMTALABS 44.4/100Thin evidence · provisional45% evidence TURNING 17.5/35 Revenue 7.8% · PAT 48.8% · OPM change 5 pp 18% evidence 13.5/25 ROCE 17.6% · OPM 37% 57% evidence 7.5/20 P/E 44.8× · PEG — 50% evidence 5.9/20 RS sector -21.9% · RS bench 4.8% · 1Y 4.1%7 of 10 weeks ahead 70% evidence
Exact sum: 17.5 + 13.5 + 7.5 + 5.9 = 44.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Vijaya Diagnostic Centre Ltd's share price today?

Vijaya Diagnostic Centre Ltd trades at ₹1,344, +24.1% over the past year. The company is valued at ₹13,847 Cr. The stock sits at 91% of its 52-week range of ₹870–₹1,389, +17.3% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 12 weeks in. — as of 31 July 2026.

What were Vijaya Diagnostic Centre Ltd's latest quarterly results?

Vijaya Diagnostic Centre Ltd reported revenue of ₹219 Cr and net profit of ₹48.0 Cr for the Mar 26 quarter. Revenue rose 26.6% and profit rose 37.1% year on year. Earnings per share were ₹4.66. The operating margin was 44.0%, 4.0 pp higher than a year earlier. — as of 31 July 2026.

What is Vijaya Diagnostic Centre Ltd's revenue?

Vijaya Diagnostic Centre Ltd reported revenue of ₹219 Cr in the Mar 26 quarter, +26.6% year on year. For the full FY26 fiscal year, revenue was ₹814 Cr (+19.5%). Over the last 8 years revenue compounded at 15.8% a year. — as of 31 July 2026.

What is Vijaya Diagnostic Centre Ltd's profit?

Vijaya Diagnostic Centre Ltd earned ₹48.0 Cr of net profit in the Mar 26 quarter, +37.1% year on year — the 12th straight quarter of growth. Full-year FY26 profit was ₹173 Cr. The operating margin ran 44.0% in the latest quarter. — as of 31 July 2026.

What is Vijaya Diagnostic Centre Ltd's market cap?

Vijaya Diagnostic Centre Ltd's market capitalisation is ₹13,847 Cr at a share price of ₹1,344. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Vijaya Diagnostic Centre Ltd's P/E ratio?

Vijaya Diagnostic Centre Ltd trades at a P/E of 80.0×, at the 92nd percentile of its own 5-year range, against a long-run median of 61.9×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Vijaya Diagnostic Centre Ltd pay a dividend?

Yes — Vijaya Diagnostic Centre Ltd's dividend payout was 12% of profit in FY26, and it recorded a payout in 5 of its last 9 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Vijaya Diagnostic Centre Ltd overvalued?

On its own history, Vijaya Diagnostic Centre Ltd looks expensive against its own history: its P/E of 80.0× sits at the 92nd percentile of its 5-year range (long-run median 61.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

Is Vijaya Diagnostic Centre Ltd growing?

Yes — Vijaya Diagnostic Centre Ltd is growing: latest-quarter revenue +26.6% year on year, profit +37.1%, and the margin +4.0 pp at 44.0%. The 8-year compound rates are 15.8% (revenue) and 22.1% (profit). The earnings engine currently reads: improving — as of 31 July 2026.

How is Vijaya Diagnostic Centre Ltd performing?

Vijaya Diagnostic Centre Ltd is in a confirmed uptrend, 12 weeks in. Its latest quarter's revenue rose 26.6% and profit rose 37.1% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Vijaya Diagnostic Centre Ltd in?

Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 21.3% and holding. The read comes from the last 12 quarters of growth (revenue growth +19.5% latest, profit growth +20.1% latest, eps growth +20.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Vijaya Diagnostic Centre Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 12 of stage 2), trading +17.3% versus its 200-day average and at 91% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Vijaya Diagnostic Centre Ltd beating the market?

Not lately — on a trailing-13-week view Vijaya Diagnostic Centre Ltd is currently behind the NIFTY 500 (3 weeks and counting; last ahead the week of 2026-07-10), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4.9 years the stock moved +114% against the NIFTY 500's +57% — ahead of the index over the full window. — as of 31 July 2026.

Will Vijaya Diagnostic Centre Ltd's share price go up?

This page publishes no price forecast for Vijaya Diagnostic Centre Ltd. What it measures instead: the share price is ₹1,344, the price is in a confirmed uptrend 12 weeks in. Its P/E of 80.0× sits at the 92nd percentile of its own 5-year range. — as of 31 July 2026.

Who owns Vijaya Diagnostic Centre Ltd?

Promoters hold 52.5% of Vijaya Diagnostic Centre Ltd, foreign institutions 11.7%, domestic institutions 31.6% and the public 4.2% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 10.1 points over 8 quarters. — as of 31 July 2026.

Does Vijaya Diagnostic Centre Ltd have too much debt?

It is moderate — Vijaya Diagnostic Centre Ltd's debt-to-equity is 0.44, and operating profit covers the interest bill 10×. FY26 borrowings were ₹423 Cr against equity of ₹957 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.

What is Vijaya Diagnostic Centre Ltd's capex?

Vijaya Diagnostic Centre Ltd spent ₹772 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹261 Cr, with ₹34.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Vijaya Diagnostic Centre Ltd's cash flow?

Vijaya Diagnostic Centre Ltd generated ₹271 Cr of operating cash flow in FY26 and ₹10.0 Cr of free cash flow after ₹261 Cr of capital spending. Reported profit that year was ₹173 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Vijaya Diagnostic Centre Ltd's profit real cash?

Yes — over the last 3 fiscal years, 155% of Vijaya Diagnostic Centre Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹271 Cr against reported profit of ₹173 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Vijaya Diagnostic Centre Ltd in its business cycle?

Vijaya Diagnostic Centre Ltd's FY26 operating margin was 41.0%, against a 9-year band of 32.0%–44.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 44.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Vijaya Diagnostic Centre Ltd story?

The sharpest disagreement: the engine is strong, but at the 92nd percentile of its own range you are paying full price for it. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Vijaya Diagnostic Centre Ltd a stock worth studying right now?

This is not investment advice. The machine read: Vijaya Diagnostic Centre Ltd is strength at full price. The numbers are improving — and a P/E at the 92nd percentile of its own range says the market knows. The sharpest open question: whether the earnings grow into the multiple. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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