Business Divisions

a) IVD / MedTech Division

• Focused on rapid diagnostics and non-communicable disease management

• Portfolio includes 34+ rapid test kits, surgical consumables, and biochemicals

• Expanding into genome testing and B2C with E-smart clinics

b) Renewable Energy / LED Division

• Market leader in rooftop solar installations in UP and Bihar

• Strategic partnerships with Philips and defense projects

• 500 MW solar project target over 7 years; current order book: ₹2,000+ Cr

c) Paper Division (To Be Divested)

• Currently contributes 18% of revenue

• Planned divestment to focus on high-growth MedTech and solar verticals

Financial Highlights (FY22–FY24)

1. Revenue Growth:
Revenue surged from ₹213 Cr (FY22) to ₹555 Cr (FY24), indicating a CAGR of 28%.

2. Profitability Metrics:
EBITDA improved from ₹13.1 Cr to ₹38 Cr with a CAGR of 62%, while PAT rose from ₹4.2 Cr to ₹11.3 Cr (CAGR 93%).

3. Margin Expansion:
Gross margins increased from 8.92% to 13.33%, and OPM remained stable above 6%, reflecting operational efficiencies.

4. EPS Movement:
EPS stood at ₹1.01 in FY24, rising from ₹0.82 in FY23, despite equity dilution.

5. Strong Asset Base:
Total assets grew from ₹220 Cr to ₹357 Cr, with fixed assets rising from ₹18.8 Cr to ₹47 Cr.

6. Borrowings & Leverage:
Borrowings increased from ₹123 Cr (FY22) to ₹216 Cr (FY24), funding aggressive expansion.

7. Capital Structure:
Share capital expanded from ₹5 Cr to ₹56.2 Cr, while reserves reached ₹32.6 Cr, indicating equity infusions to support growth.