February 13, 2023

To, To,
Listing Department The Corporate Relations Department
National Stock Exchange Of India Limited, BSE Limited,
Exchange Plaza, Phiroz Jeejeebhoy Towers,
Bandra Kurla Complex, 25th floor, Dalal Street,
Bandra (East), Mumbai- 400 051 Mumbai - 400 001
NSE Symbol. VIJAYA BSE Scrip Code. 543350

Dear Sir/Madam,

Sub: Investor Presentation.

Pursuant to Regulation 30(2) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, we are enclosing herewith the presentation that would be used in the
Investors / Analysts earnings conference call scheduled to be held on February 14, 2023 at 11:30
a.m. IST.

Please take the information on record.

Thanking you,
For Vijaya Diagnostic Centre Limited
Digitally signed by SUPRITA SURA REDDY

SUPRITA
DN: c=IN, o=PERSONAL, title=8913,
pseudonym=56fe28a97d9943a183577de997c5a0d6,
2.5.4.20=aa258bc0eddad165e7d7b0d2e49b6e12df4fc
34973ad0cae3aaf2080fd4ec376, postalCode=500033,

SURA REDDY
st=Telangana,
serialNumber=315074dfa1901f6701923f5b5a0f21556
b5e59ba771f420f4c8e9a31d3d3589e, cn=SUPRITA
SURA REDDY
Date: 2023.02.13 15:01:43 +05'30'

S Suprita Reddy
Chief Executive Officer

Encl.: As Above
 Vijaya Diagnostic Centre Limited

Q3 & 9MFY23 Earnings Presentation

February 13, 2023
Safe Harbour

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vijaya Diagnostic Centre Limited (the ‘Company’), have
been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and
shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be
made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no
representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness
of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any
liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are
individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known
and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of
the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the
Company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and
advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The
Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this
Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements
and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party
statements and projections.

All Maps used in the Presentation are not to scale. All data, information and maps are provided "as is" without warranty or any representation of accuracy,
timeliness or completeness.

2
Q3 & 9MFY23 Financial Performance
Q3 FY23 – Performance Snapshot

Operational & Financial Highlights – Q3 FY23

COVID
2.49 Mn INR 9.2 Mn (1%)
Tests
INR 1,131.2 Mn 9.8% 89.2%
Revenue (YoY) (YoY)
0.77 Mn
Footfalls INR 1,121.9 Mn (99%)
Non-COVID

INR 442.9 Mn
117 EBIDTA
Centres
(opened 5 39.1%
closed 1) EBIDTA Margin

INR 163.6 Mn INR 183.5 Mn

95% Profit After Tax Normalised Profit After Tax
B2C Revenue
14.5% 16.2%
PAT Margin Normalised PAT1 Margin

Note 1: Normalised PAT is excluding the Notional interest & Depreciation as per IND AS 116, Leases.
4
Management comment

Commenting on the Q3FY23 results performance, Ms. Suprita Reddy, CEO at Vijaya
Diagnostic Centre Ltd. said:
“We are pleased to report steady performance during a seasonally soft quarter for the industry. The
volume trends that were slow in the months of October and November, saw a significant improvement in
December and we hope to carry this momentum into the upcoming quarter.

Our ongoing efforts to expand the network through the addition of new hubs and spokes has been
progressing well. During this quarter, we opened 5 centers including one of its kind facility at Punjagutta.
Our newly opened state-of-the-art facilities in Punjagutta and Rajahmundry have received an
overwhelmingly positive response from our customers. Additionally, our efforts to improve digital
operations are proceeding smoothly, and we anticipate that these initiatives will considerably improve
operational efficiency and enhance customer experience across all of our centers.

Looking ahead, the outlook for the diagnostics industry remains positive, with increasing demand for
advanced medical services and a growing emphasis on preventive healthcare. We remain confident that
our integrated diagnostics offerings, well-established brand and our robust B2C network will enable us to
capitalize on the huge market opportunity.”

5
 Key Financial Highlights – Q3 & 9M FY23
(INR Mn)

Revenue from Operations EBITDA & EBITDA Margin (%)

3,462 43.2% 40.4% 39.1% 45.0% 39.3%

3,382

1,558
1,329
1,108 1,207 1,131
478 487 443

Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23

Shift YoY (%) 2.1% -2.3% -7.4% -14.7%

PAT & PAT Margin (%) Normalised PAT & PAT Margin (%)
22.8% 19.3% 14.5% 24.8% 16.9% 24.2% 20.8% 16.2% 26.2% 18.5%

860 905
571 625

253 233 268 251 184

164

Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23

Shift YoY (%) -35.3% -33.5% -31.6% -31.0%

6
 Revenue Mix – Q3 & 9MFY23
(In %)

Radiology vs. Pathology Breakdown Non-COVID & COVID Allied Breakdown

Radiology Pathology Non Covid Covid

8% 3% 1%
66% 67% 64% 67% 65%
92% 97% 99%
34% 33% 36% 33% 35%
Q3 FY22 Q2 FY23 Q3 FY23 9MFY22 9MFY23 Q3 FY22 Q2 FY23 Q3 FY23

Non-COVID YoY (%) 9.8%

COVID YoY (%) -89.2%

B2C Contribution – Q3 FY23 & 9MFY23 Non Covid Covid

2%
B2B
15%
5%
85% 98%

9MFY22 9MFY23

Non-COVID YoY (%) 12.2%

B2C
95% COVID YoY (%) -85.2%
7
Q3 & 9MFY23 – Key Developments

Non-COVID Test Volumes (# in Million)

Recorded its highest ever December monthly volumes in a 0.87 0.90 0.88
0.76 0.79 0.80 0.80
seasonally soft quarter 0.68 0.73

• The Company experienced lower volumes during the month of

October and November due to the festive season. However, the
Company registered a strong uptick in its operational
performance during the month of December
Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22

VDCL to launch state of the art facility in Tirupathi, Andhra Pradesh

• The 10,000 + sq.ft. facility at Tirupathi, Andhra Pradesh is expected to be inaugurated in February 2023
o The center will be equipped with advanced radiology modalities and equipment, including a 3T MRI, CT scan, Gamma
Camera, basic radiology and an automated lab

8
Q3 & 9MFY23 - Financial and Operational Discussions (Y-o-Y)

• Revenue from Operations increased by 2.1% YoY to Rs. 1,131 Mn, Non-Covid Revenues grew by 9.8% YoY
• During Q3FY23, the Non-COVID business comprised 99% of total revenue share as against 92% revenue
share in Q3FY22
Financial • Wellness share in Q3FY23 was up at 12.9% as against 8.5% in Q3FY22
Performance • Revenue composition from B2C segment stood at 95%
Q3FY23
• EBITDA stood at Rs. 443 Mn. EBITDA margin for the quarter was 39.1% as against 43.2% in Q3FY22
o Healthy non covid revenue coupled with operating leverage assisted margin performance despite costs
on account of new centres
• PAT stood at Rs. 164 Mn. translating into a PAT margin of 14.5%
• Normalised PAT stood at Rs. 184 Mn. translating into a PAT margin of 16.2%

• Revenue from Operations decreased by 2.3% YoY to Rs. 3,382 Mn, Non-Covid Revenues grew by 12.2% YoY

Financial • Wellness share in 9MFY23 was up at 11.7% as against 6.3% in 9MFY22

Performance • Revenue composition from B2C segment continued to stay strong at 95%
9MFY23 • EBITDA stood at Rs. 1,329 Mn. EBITDA margin for 9MFY23 was 39.3%
• PAT stood at Rs. 571 Mn. translating into a PAT margin of 16.9% in 9MFY23
• Normalised PAT stood at Rs. 625 Mn. translating into a PAT margin of 18.5% in 9MFY23
9
Indian Diagnostics Market expected to Grow at a Healthy Trajectory

Indian Diagnostics Market Segment-wise breakup of Indian Diagnostic Market

(INR Bn)
Radiology Pathology

980 980

+13% +13% FY23E

CAGR CAGR 275 - 285 43% - 44%
684 684

FY20 +13% - 14%

190 - 195 CAGR
43%
472 472 +14%
CAGR
South India 41%
27% - 29%
56% - 57%

+12% 57% +12% - 13%

FY20 59% CAGR CAGR

FY17 FY20 FY23E 71%-73% FY17 FY20 FY23E

Rest of India

Source: CRISIL Report

10
 Key Financial Highlights

Cash flow from Operations / EBITDA (%) Cash & Cash Equivalents (INR Mn)

95.9% 2,349 2,493 2,425 2,349 2,425

89.5%
75.8% 74.2% 77.1%

Q3FY22 Q2FY23 Q3FY23 9MFY22 9MFY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23

Working Capital Days1

• Cash flow from Operations stood at Rs. 1,190 mn.
Q3FY22 Q2FY23 Q3FY23 9MFY22 9MFY23 for 9M ended Dec. 31, 2022
• Cash and Cash Equivalents stood at Rs. 2,425 mn.
as on Dec. 31, 2022
-10
-12
-10 -10 -10 • Working Capital Days continues to remain
negative at -10 in Q3FY23

Note 1: Quarterly Revenue figures are annualized

11
Key Operational Highlights

Tests Performed (# in Million) Footfalls (# in Million) Tests / Footfalls (# in Million)

6.87 7.35 2.67

2.37 3.09 3.22 3.10
2.73 2.58

2.32 2.63 2.49 0.85 0.85 0.77

Q3 FY22 Q2 FY23 Q3 FY23 9MFY22 9MFY23 Q3 FY22 Q2 FY23 Q3 FY23 9MFY22 9MFY23 Q3 FY22 Q2 FY23 Q3 FY23 9MFY22 9MFY23

Revenue per Test (INR) Revenue per Footfall (INR)

504 1,464
1,418 1,426
477
459 460
454 1,303 1,299

Q3 FY22 Q2 FY23 Q3 FY23 9MFY22 9MFY23 Q3 FY22 Q2 FY23 Q3 FY23 9MFY22 9MFY23

• Company recorded steady growth in No. of tests on YoY basis led by Non-COVID customers in 9MFY23

12
 Consolidated Profit & Loss Account – Q3 & 9M FY23
(INR Mn)
Particulars Q3 FY23 Q3 FY22 Y-o-Y Q2 FY23 Q-o-Q 9M FY23 9M FY22 Y-o-Y
Revenue from operations 1,131.2 1,107.8 2.1% 1,207.5 -6.3% 3,382.3 3,461.7 -2.3%
Cost of materials consumed 136.7 163.0 -16.2% 166.5 -17.9% 433.5 536.2 -19.2%
Employee benefits expense 197.3 182.2 8.3% 197.4 0.0% 589.5 514.6 14.6%
Other expenses 354.3 284.3 24.7% 356.1 -0.5% 1,030.1 852.5 20.8%
EBITDA 442.9 478.3 -7.4% 487.4 -9.1% 1,329.2 1,558.3 -14.7%
EBITDA Margin (%) 39.1% 43.2% -410 bps 40.4% -130 bps 39.3% 45.0% -570 bps
Other income 35.6 32.0 11.1% 33.0 7.7% 96.3 96.4 -0.1%
Depreciation and amortization
202.8 130.1 56.0% 159.0 27.6% 503.6 374.1 34.6%
expense
EBIT 275.6 380.2 -27.5% 361.4 -23.8% 921.9 1,280.7 -28.0%
Finance costs 55.4 41.8 32.7% 48.7 13.7% 151.8 121.2 25.3%
Profit before Tax 220.2 338.5 -34.9% 312.7 -29.6% 770.1 1,159.5 -33.6%
Tax expenses 55.6 83.9 -33.7% 78.0 -28.7% 195.3 291.7 -33.0%
Profit before Minority Interest 164.6 254.6 -35.4% 234.7 -29.9% 574.8 867.8 -33.8%
Minority Interest 0.9 1.7 -48.4% 1.4 -36.6% 3.4 8.2 -58.1%
Profit after Tax (PAT) 163.6 252.9 -35.3% 233.3 -29.9% 571.4 859.7 -33.5%
PAT Margin (%) 14.5% 22.8% -830 bps 19.3% -480 bps 16.9% 24.8% -790 bps
EPS – Basic (INR) * 1.6 2.5 -35.9% 2.3 -28.1% 5.6 8.4 -33.3% *Not annualized

Normalised PBT 246.8 359.1 -31.3% 335.8 -26.5% 841.8 1,220.7 -31.0%
Normalised PBT/PAT is excluding
Normalised PBT Margin (%) 21.8% 32.4% -1,060 bps 27.8% -600 bps 24.9% 35.3% -1,040 bps the Notional interest &
Depreciation as per IND AS 116,
Normalised PAT 183.5 268.4 -31.6% 250.6 -26.8% 624.9 905.4 -31.0% Leases.
Normalised PAT Margin (%) 16.2% 24.2% -800 bps 20.8% -460 bps 18.5% 26.2% -770 bps

13
Company Overview
 Vijaya at a Glance

Vijaya Diagnostic Centre Limited is the largest integrated diagnostic chain in South India with 117 state-of-the-art centres spread across 19 cities

40+ 117
Mission Years of Experience Centres Quality

Experience in delivering Quality

Diagnostic Service State-of-the-art Facilities with
Our Mission is to make the patient’s medical at affordable prices Best-in-class Technology
journey faster, more transparent and more
accurate. We are committed to deliver
exceptional diagnostic solutions to every
patient and physician
19 200+ Reliable &
Cities across India Doctors
Accurate
Vision Diagnostics
Largest integrated player in South Radiologists, Pathologists &
India Microbiologists

Our Vision is to provide reliable and accurate

diagnostic services to our customers, at
affordable prices, in a customer-centric
manner. We strive to provide the best service
possible. We are continually raising our own ~3.6 Mn ~9.3 Mn
bar through the latest technology, continuous Footfalls Tests at Affordable
improvement and recruitment of high calibre Prices
technicians and professional Trusted by every Age group Most preferred Diagnostic Centre
Footfalls & Tests for 12 months ending Mar 2022
15
Our Journey

Awarded one of the Best Healthcare

Brands 2022 by The Economic Times
Awarded Brand of the Won the Healthcare Leadership
One of the earliest
year in diagnostic Awards 2022
private diagnostic
Vijaya Diagnostic Centre Recognized as one of the services by The CEO
service providers to be Awarded Pride of India Brands Award
incorporated in Best Imaging centres in Magazine and Telangana
approved for COVID RT- – The Best of South Awards 2022
Hyderabad Hyderabad by The Week Healthcare Leadership
PCR testing by ICMR*
award

1981 2012 2018 2020 2022

2008 2016 2019 2021

First independent Investment by Successfully listed on Indian

Awarded Best Diagnostic
diagnostic centre in Karakoram Limited and Stock Exchanges (NSE & BSE)
Centre – India by Times
South India to offer PET Kedaara Capital
Healthcare Achievers
CT from Wipro GE Alternative Investment First independent diagnostic
Group
Healthcare Pvt. Ltd. Fund – Kedaara Capital centre in Telangana to get
AIF1 Revolution ACT 50 slice CT
from Wipro GE Healthcare Pvt.
Ltd

*ICMR: Indian Council of Medical Research; NSE: National Stock Exchange, BSE: Bombay Stock Exchange
16
At the Forefront of Introducing New Technologies

Ultrasound & Nuclear Medicine Fourth Generation

1981 Echocardiography 1986 1993 CT Scan 1994 Offer Mammography
facility

Hawkeye Gamma Automated Microbiology Real Time RT-PCR Assays

2006 2003 Culture 2000 1999 Bone Densitometry
Camera with SPECT & Flow Cytometry

Automated TB Liquid Based Cytology

Cardiac CT & HPV-DNA HC2 test 2011 identification & Sensitivity 2012 (Thin Prep) in Andhra
2007 3.0 Tesla MRI 2009 in South India in South India Pradesh (AP)

Droplet Digital PCR Iris iQ200 Automated

3D Mammography with USG-ECHO for Cardiology
2019 Urine Analyzer with
Advanced Technology 2019 & Advanced CBCT 2017 (ddPCR) & Adv. PET CT 2013 Microscopy & Siemen’s
in South India in South India
Accuson Elastography

Integrated modular
DNA fragmentation COVID testing by RT-PCR Philips DS Achieva with
2019 2020 solution for Immunoassay 2020 2021 Ambient Experience
Index test in semen in Telangana & AP
& Chemistry assays

‘Walk-in Walk-out Dual

2022 source CT’ and
‘BioMatrix 3T’

17
Our Pillars of Strength

1 One of the leading players in India’s high growth diagnostics market

2 Integrated diagnostics provider offering one-stop solution

3 High brand recall driving customer stickiness

4 Robust technical capabilities and state-of-the-art technology

5 Experienced Board and strong management team

18
One of the leading players in India’s high growth diagnostics market

Telangana and Andhra Pradesh Market Size Vijaya’s Core Geographies

Telangana and Andhra (INR Bn)

Dominant Position in
Pradesh (44 - 46% of South Telangana &
India) Andhra Pradesh
+14% 120 -130 Karimnagar
CAGR Mancherial
Nizamabad
87 Hanamkonda
Kazipet
59 Warangal
Sangareddy
Shamshabad
Shadnagar Hyderabad &
Secunderabad Vishakhapatnam
FY17 FY20 FY23E Wanaparthy

Growth Drivers: Rajahmundry

Kurnool

• Rising NCDs in the states Nandyal

• Increasing share of aged population

• Rising health awareness Nellore

• Increasing health insurance penetration

• Conducive government healthcare schemes

NCD: Non Communicable diseases Source: CRISIL Report

19
Integrated Diagnostic service provider with extensive network…
National
Reference Lab
Vijaya Diagnostic Centre

Flagship
Centre
#1 #1

Reference Lab
Customers
Hubs
#26
Samples
#15

Customer (Walk-in)
Home Collection
B2B Hospitals & Labs
Sample Flow
Patient Flow

Spokes
#90

Flagship Centre = Lab Sample Collection + Basic Radiology + Complete Advanced Radiology (MRI, CT Scan, SPECT & PET CT)
Hubs = Lab Samples Collection + Basic Radiology + Advanced Radiology (MRI / CT Scan / SPECT)
Spokes = Lab Samples Collection + Basic Radiology
Basic Radiology = ECG / X-ray / USG / Mammography / BMD / TMT / 2D Echo / EEG / ENMG / Endoscopy, etc.
20
…offering One-Stop Solutions for Pathology & Radiology

Complete Range of Diagnostic Services under One Roof

Comprehensive and high quality integrated diagnostic services through our
operational network

21
High brand recall driving customer stickiness

Customer Centric Approach Quality Diagnostic Services B2C Revenue

90% 93% 92% 94%

Higher brand recall

FY19 FY20 FY21 FY22

High share of walk-in customers

Operational Metrics

(INR)
Sticky individual customer
1,431
1,228 1,214 1,276

“For excellence in Quality and

“One of the Best Healthcare Accuracy” 631
562
under the category Leading Diagnostics 454 475
Brands 2021”
company with Excellence in Quality and
by The Economic Times in 2021
Safety at the Diagnostics Leadership
Summit in 2021
FY19 FY20 FY21 FY22
Revenue per footfall EBITDA per footfall
22
Robust Technical Capabilities with State-of-the-art IT Infrastructure

8 Advanced Software to Manage Clinical Data

21

CT Machines PET CT / Gamma machines

23 200+
Fully Integrated Radiology
Advance Laboratory
MRI Machines Radiologists, Lab Doctors & Information Systems (RIS) and
Information Management
Physicians Picture Archive and
System (LIMS)
Communication Systems (PACS)

5 11
Front end IT infrastructure enabling…
NABH Accreditations NABL Accreditations

Key Suppliers Standardization across

our operations
Closely track key performance
metrics and maintain the Turn-
Around Time (TAT)
Reduce incidence of
errors due to Low
• Long standing relationship with medical technology vendors Human Intervention

• At the forefront of introducing new tests by adopting the latest medical Provide Uniform Experience to
technologies customers from booking
appointments to accessing
• Among the first diagnostic service provider in South India to offer PET-CT scan reports online
Monitor Technical
in 2008
Operations

23
Experienced Board of Directors

Dr. S Surendranath Reddy - Executive Chairman Dr. D Nageshwar Reddy - Non-executive, Independent Director
▪ Founder of Vijaya with 40+ years of experience in building Vijaya as South
India’s largest integrated diagnostic chain ▪ Chairman of Asian Institute of Gastroenterology (AIG), Hyderabad
▪ Holds Bachelor’s degree in Medicine and Provisional degree of Doctor of ▪ Awarded Padma Shri and Padma Bhushan by Government of India
Medicine in Radiology ▪ D.M in Gastroenterology from PGIMER Chandigarh

Shekhar Prasad Singh - Non-executive, Independent Director

▪ Ex-Chief Secretary to Government of Telangana
▪ Retired IAS officer of 1983 batch
S Geeta Reddy - Non-Executive Director

▪ Enrolled as advocate with Andhra Pradesh High Court in 1986

▪ Holds a Bachelor’s degree in Law from Osmania University
Satyanaryana Murthy Chavali - Non-executive, Independent Director

▪ Ex-CEO of Aurigene Discovery Technologies Ltd.

▪ Holds BTech from IIT, Madras and MBA from IIM, Bangalore

Sunil Chandra Kondapally - Executive Director

▪ Been with Vijaya since 2002 and 17+ years of experience in healthcare
▪ Holds Bachelor’s degree in Electrical Engineering from Florida State Dr. Manjula Anagani - Non-executive, Independent Director
University
▪ Clinical Director and Head of Department of centre of women and childcare at
Care hospitals
▪ Awarded Padma Shri by Government of India
▪ MD in Obstetrics and Gynecology from N.T.R. University of Health Sciences

24
Strong Management Team

Dr. S. Surendranath Reddy Mr. Sunil Chandra Kondapally Ms. Suprita Reddy Mr. Narasimha Raju K.A

Executive Chairman Executive Director Chief Executive Officer Chief Financial Officer

▪ 40+ years of experience in ▪ With Vijaya since incorporation ▪ With Vijaya since 2003 and ▪ Associated with Vijaya from
building Vijaya as South India’s and experienced in operations, heads overall strategy, clinical June 2017 to Nov 2020 and
largest integrated diagnostic quality accreditation, finance, excellence, operations and rejoined in March 2021
chain marketing and network expansion of the company ▪ 14+ years of experience in
▪ Holds Bachelor’s degree in expansion departments ▪ Awarded Women Leadership audit, financial reporting,
Medicine and Provisional ▪ 17+ Years of experience in Award in Healthcare by ABP in regulatory compliance and
degree of Doctor of Medicine healthcare industry & founded 2019 accounting advisory
in Radiology Trikona Pharmaceuticals Pvt. ▪ Holds bachelors degree in ▪ Previously worked with SR
▪ He is a life member of the Ltd. (2016) and QPS Bioserve commerce from Osmania Baltliboi & Co., NSL Renewable
Indian Radiological and India Pvt. Ltd. (2004) University Power Pvt. Ltd. etc
Imaging Association. ▪ Holds bachelor’s degree in ▪ Holds bachelor’s degree of
electrical engineering from commerce from Osmania
Florida State University University and member of the
Institute of Chartered
Accountants of India

25
Awards & Accolades

Healthcare Leadership Awards Pride of India Brands Award One of the Best Healthcare Indo Global Award for Company of the Year -
Best Healthcare Brands 2022
2022 2022 Brands 2021 Healthcare Excellence Healthcare

2022 2021 2021 2021

2022 2022
Presented by Presented by Presented by Presented by
Presented by Presented by
The Economic The Economic Indian Economic TV9 Network
eHealth The Best of
Times Times Development & and SAP
Magazine South Awards Research
Association

Leading Diagnostic Chain of India’s Greatest Brands 2020- India’s Greatest Brands 2020- Leading Diagnostics with Most Trusted and Best Quality Healthcare Entrepreneur of
the Year 21 Pride of Nation 21 Pride of Nation Excellence in Quality & Safety Diagnostic services in India the Year – Dr. Surendra Reddy

2021 2021 2021 2021 2020 2019

Presented by Presented by Presented by Presented by Presented by Presented by
Diagnostic United Research United Research Diagnostic Times Six Sigma
Leadership Summit Services Services Leadership Healthcare Healthcare
Summit Achievers

Fastest Growing Brands Best Diagnostic Centre of the Leading Chain of Diagnostics & Best Diagnostic Service Most Trusted Diagnostic Telangana Healthcare
(Pride of the Nation) Year Imaging Provider of the Year Centre of the Year Leadership Awards

2019 2019 2019

Presented by 2019 2019 Presented by 2018
Presented by
United Presented by Presented by Indo-Arab Presented by
Indian Medical
Research Times Six Sigma Leaders Telangana
Association,
Services Healthcare Healthcare Summit & Government
Telangana state
Achievers Awards
and Messe India

26
Shareholding Pattern as of 31st Dec 2022

Others

FII’s
6.5% Marquee Institutional Investors

Wasatch Advisors
24.3%
Nippon Life India
Promoter &
Promoter
group
Aberdeen Standard Investments
55.0%
Axis Mutual Fund
14.2%
Fidelity Group

DSP Healthcare Fund

Abu Dhabi Investment Authority

DIIs
Goldman Sachs

As on 31st December 2022

DII’s: Mutual Funds, AIF’s and QIB’s
Others: Retail, Bodies Corporate and others

27
Strategy Going Forward
Deepen Footprint in our Core Markets - Telangana & Andhra Pradesh

Leveraging Existing Presence

Given under-penetration of diagnostic market, we will continue to focus on

Opening additional diagnostic centres through owned model

Mancherial
Nizamabad
Karimnagar Expanding network through setting up spokes and hubs in existing catchment areas
Hanamkonda
Sangareddy Kazipet
Warangal Adding reference laboratories in our existing core geographies
Shamshabad
Shadnagar Hyderabad &
Secunderabad Vishakhapatnam
Wanaparthy
Kurnool Rajahmundry Consolidate Leading Position
Nandyal
Given our significant presence and operational experience in Telangana and Andhra Pradesh, we
Nellore intend to deepen our penetration and increase customer base by

Enhancing laboratory capacity and test menu by adding latest technologies

Offering value added services

Physician engagements (by conducting continuous medical education programs)

29
 Expand in Adjacent Geographies & East India

Network (FY22)

East India Strategy

◼ Expand presence in East India given

growing demand

◼ Replicate our successful hub and spokes

model in East India

◼ Established a hub in Kolkata and plan is to

set up additional diagnostic centres
South India Strategy around it

◼ Expand in concentric circles given our ◼ Hence, Kolkata to be our focus area for
hub and spoke model medium to long term growth

◼ Establish presence in adjacent

geographies
◼ Identified key cities and towns which are
underserved and our brand is well- 89
regarded
◼ Wider geographic reach will expand our
customer base leading to better
profitability by leveraging our 26
infrastructure 2

Hyderabad Rest of Telangana Others

and AP

AP: Andhra Pradesh

30
Continued Focus on Providing Customer Centric Services and Offerings

Preventive and Wellness Testing to Boost Demand for Diagnostics

FY20E Industry Size FY23P

CAGR: ~20% 101-108

61-68
Rest of the Wellness & Rest of the
Wellness &
market Preventive market
Preventive
90% 9% - 10% 89%
11%

FY20 FY23

Key Drivers Our Strategy

◼ Increasing chronic and lifestyle diseases ◼ Increase diagnostic services by offering additional preventive and wellness services through adoption of
new cutting-edge diagnostic testing technology
◼ Corporate tie-ups ◼ Providing home collection services and point-of-contact testing to complement walk-in
◼ Increasing disposable income ◼ Expand specialty tests, disease specific profiles and provide customized packages

◼ Increasing service offerings ◼ Grow our corporate customer base by catering to their needs
◼ Expansion of chronic disease management and wellness programs

Source: CRISIL Report

31
Financial & Operational Highlights
Robust Operational Metrics

Diagnostic Centre (Nos) Footfalls (Mn) Tests Performed (Mn)

95 3.62 9.32
80 7.91
73 2.79 6.99 7.09
61 2.63
2.38

FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22

Test per Footfall (Nos) Revenue per Test (INR) Revenue per Footfall (INR)

Impact of COVID-19

531
496 1,431
2.93 2.83
2.69 419 428 1,276
2.57 1,228 1,214

FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22

33
 Consistent Financial Performance
(INR Mn)

Revenue EBIDTA PAT

CAGR:16%
4,624 CAGR:24% 1,097
2,037
CAGR:34%
3,767
3,388 1,660 845
2,926
1,326 625
1,081
459

FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22

EBIDTA Margin (%) PAT Margin (%)

710 bps 800 bps

22.4% 23.7%
44.1% 44.1%
18.5%
15.7%
39.1%
37.0%

FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22

34
Sustainable Cash Generation & Increasing Return Ratios

Cash & Cash Equivalents CFO / EBIDTA (%)

(INR Mn)

2,467 84% 80%

2,277 78% 77%

1,729
1,215

FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22

RoCE Pre-Cash (%) RoE (%)

43% 23%
38% 23% 23%
33% 22%
30%

FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22

ROCE (Pre-cash): PBIT ex Other income / (Total Assets – Cash – Current Liabilities) CFO = Cash flow from Operations
35
Annexure
 Consolidated Profit & Loss Account
(INR Mn)

Particulars FY22 FY21 FY20 FY19

Revenue from operations 4,624 3,767 3,388 2,926
Cost of materials consumed 715 571 439 405
Employee benefits expense 707 574 624 539
Other expenses 1,165 962 999 901
EBITDA 2,037 1,660 1,326 1,081
EBITDA % 44.1% 44.1% 39.1% 37.0%
Other income 128 118 154 104
Depreciation and amortization expense 527 505 492 396
EBIT 1,638 1,274 988 789
Finance costs 165 152 154 135
Profit before Tax 1,474 1,121 834 653
Tax expenses 367 270 209 190
Profit after Tax before Minority Interest 1,107 851 625 463
Minority Interest 10 6 0 4
Profit after Tax 1,097 845 625 459
PAT % 23.7% 22.4% 18.5% 15.7%
EPS – Basic (INR) 10.76 8.28 6.13 4.50

37
 Consolidated Balance Sheet
(INR Mn)
Assets Mar-22 Mar-21 Mar-20 Mar-19 EQUITY AND LIABILITIES Mar-22 Mar-21 Mar-20 Mar-19

NON-CURRENT ASSETS 4,436 3,022 2,959 2,689

EQUITY 4,695 3,592 2,741 2,069
Property, plant and equipment 1,966 1,358 1,398 1,437
Equity share capital 102 45 45 45
Capital work-in-progress 341 82 93 27
Instruments entirely equity in nature - - - 24
Goodwill 53 53 53 69
Other intangible assets 14 6 10 7 Other equity 4,593 3,547 2,696 2,000
Right of use asset 1,672 1,260 1,254 1,079
Intangible assets under development 1 12 4 - NON-CURRENT LIABILITIES 1,778 1,377 1,494 1,422
Financial assets Financial liabilities
- Investments 0 0 0 0 - Borrowings 0 33 221 315
- Other financial assets 75 122 55 43 - Lease liabilities 1,703 1,265 1,196 1,034
Deferred tax assets 89 61 16 12 - Other financial liabilities 0 2 9 19
Income tax assets 2 6 9 8 Provisions 74 77 67 53
Other assets 223 61 67 7 Other liabilities 1 1 1 1

CURRENT ASSETS 2,699 2,388 1,865 1,374

CURRENT LIABILITIES 661 440 589 572
Inventories 43 26 28 22
Financial liabilities
Financial assets
- Borrowings 6 12 13 20
- Investments 542 276 547 688
- Trade receivables 98 64 80 91 - Lease liabilities 126 101 88 73
- Cash and cash equivalents 110 67 556 96 - Trade payables 216 222 217 218
- Bank balances other than Cash and cash - Other financial liabilities 248 61 224 204
1,813 1,876 626 430
equivalents Income tax liabilities 9 16 15 15
- Loans 0 0 1 4 Provisions 21 7 11 11
- Other financial assets 51 52 5 26 Other liabilities 35 20 21 31
Other current assets 41 27 22 17

TOTAL EQUITY AND LIABILITIES 7,135 5,409 4,824 4,063

TOTAL ASSETS 7,135 5,409 4,824 4,063
38
 Consolidated Cash Flow Statement
(INR Mn)

Particulars Mar-22 Mar-21 Mar-20 Mar-19

Cash Flow from Operating Activities
Profit before Tax 1,474 1,121 834 653
Adjustment for Non-Operating Items 572 534 492 431
Operating Profit before Working Capital Changes 2,046 1,655 1,326 1,084
Changes in Working Capital -67 -46 -32 8
Cash Generated from Operations 1,975 1,609 1,294 1,092
Less: Direct Taxes paid -399 -312 -233 -187
Net Cash from Operating Activities 1,580 1,297 1,061 905
Purchase and construction of property, plant and building (net) -1,223 -312 -375 -591
Investments (net) -127 -1,033 11 -314
Others 120 47 57 6
Cash Flow from Investing Activities -1,226 -1,298 -306 -898
Cash Flow from Financing Activities -306 -488 -295 -72
Net increase/ (decrease) in Cash & Cash equivalent 44 -489 460 -65
Cash & Cash Equivalents at the beginning of the period 67 556 96 161
Cash & Cash equivalents at the end of the period 110 67 556 96

Cash and Cash Equivalents

Particulars Mar-22 Mar-21 Mar-20 Mar-19
Investments* 543 335 547 688
Cash and cash equivalents 110 67 556 96
Bank balances other than Cash and cash equivalents 1,813 1,876 626 430
Total 2,467 2,277 1,729 1,215

*Current investments + investments with maturity more than 12 months (part of other non-current financial assets) 39
 THANK YOU

Company Investor Relations Advisors

Vijaya Diagnostic Centre Limited (VDCL) Citigate Dewe Rogerson (CDR India)

Mr. Anoop Poojari /

Mr. Siva Rama Raju – Head of Strategy
Mr. Devrishi Singh
+91 90597 00749 / +91 99485 95555

[email protected] Tel: +91 98330 90434 /

[email protected] +91 98205 30918

www.vijayadiagnostic.com [email protected]
[email protected]

#6-3-883/F, Ground Floor, FPAI Building, Punjagutta, Officers Colony, Near Topaz Building, Hyderabad-500082, Telangana, India.