Rajendra Mutha, is the Executive Chairman of the Board of Directors and Whole-time Director of the Company. He is a registered pharmacist certified by the Maharashtra State Pharmacy Council. He has been associated with the Company since incorporation and has over 10yearsof experience in the field of pharmacy and diagnostics. He is currently responsible for the overall management of the Company. Pallavi Bhatevara, is the Managing Director of the Company. She has passed the higher secondary exams from the Maharashtra State Board of Secondary and Higher Secondary Education. She has been associated with the Company since January 29, 2013, and has 8 years of experience in the field of diagnostic services. She is currently responsible for the expansion and growth of the Company and is involved in the tendering process and implementation and execution of projects. Yash Mutha, is the Whole-time Director of the Company. He holds a bachelor’s degree in commerce from the University of Pune and has been admitted to the Institute of Chartered Accountants of India as an associate member. He is also a certified fraud examiner and has been accredited by the Association of Certified Fraud Examiners, USA, and a Certified Information Systems Auditor (“CISA”) accredited by the CISA Certification Committee, USA. He has been associated with the Company since October 17, 2018. He has over 12years of experience in the field of audit and risk management. He is currently responsible for internal audits, risk reviews, and the development of business processes. Prem Pradeep, is the Non-Executive Nominee Director of the Company(nominee of Phi Capital). He holds a bachelor’s degree in mechanical engineering from the Indian Institute of Technology and a master’s degree in management from the Indian Institute of Management. He has been associated with the Company since October 8, 2020

 

Particulars (in Cr.)	Mar-21	Mar-20	Mar-19	Mar-18
Sales	396	258	209	107
Gain on fair value movement	252
Cost of Material Consumed	83	27	17	10
Fees to hospitals and others	108	75	62	17
Loss on fair value movement of CCPS	0	177	95	89
Employee Benefits Expense	29	23	18	16
Other Expenses	81	69	53	35
Operating Profit	95	-114.20	-37.59	-61.64
OPM %	24%	-44.19%	-17.97%	-57.30%
Other Income	12	13	5	3
Interest	25	24	19	8
Depreciation	37	32	25	17
Profit before tax	295	-158	-77	-84
Total Tax Exps.	110	-46	-19	-24
Net Profit	184	-111	-58	-60
NPM %	46%	-43.32%	-27.75%	-55.93%
No. of shares	3.1	3.1	3.1	3.1
EPS in Rs	15	-35	-18	-19

 

Review and Recommendation of Krsnaa Diagnostic IPO from InvestorZone is 3/10 1. The company is continuously in loss in the last 3 years. They have an exceptional gain of 252 Crores in FY21 due to which the company has shown 184 Crores of profit else there is hardly any profit. 2. They have close to 45 Crores of Profit after excluding the one time gain, and with outstanding shares of 3.1 Crores, the EPS would be 15. 3. P/E on Issue price of 954 would be ~64x. This looks very high. 4. Asking MCAP of ~3000 Crores while Dr.Lal and Metropolis are trading at Mcap of 30000 Crores and 14000 Crores respectively. However, comparison is difficult, as Dr.Lal and Metropolis are well established brand with profitable business. 5. This IPO looks very risky. Balance sheet is very weak. In 2019, their Net-worth was completely eroded.

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