What’s new

• Star Imaging upgraded its Tilak Nagar centre with a Toshiba Aquilion ONE CT scanner.
• The company claims it is North India's first scanner with 1184-slice-per-second capability.
• The move fits within its guided ₹20-25 crore capex budget for FY27.

Why it matters

For a nano-cap, the upgrade is a targeted bet on clinical differentiation rather than broad capacity expansion. The scanner's speed allows single-heartbeat cardiac imaging, which can win specialist referrals in a competitive Delhi market.

What we’re watching

• Whether scan volumes and revenue per scan increase at the Tilak Nagar centre.
• How the remaining ₹20-25 crore capex budget is deployed.
• Competitor response from other diagnostic chains in Delhi.

The full read

Star Imaging has put a 1184-slice-per-second CT scanner into its Tilak Nagar centre in Delhi. The company says it is the first in North India with this speed. The upgrade is clinical: the scanner captures a full heart in one beat and covers an entire organ in a single pass. That's a technical edge in cardiology, neurology, and oncology. The spending fits within the company's guided ₹20-25 crore capex for FY27, though the specific unit cost isn't disclosed. For a nano-cap, this is a focused bet. It is less about overall capacity and more about winning specific, high-margin referrals in a competitive geography.

Primary source: BSE · NSE

What’s new

• Management targets 25-30% revenue growth for FY27 after a 6% increase in FY26.
• Capex of ₹20-25 crore is planned, including a new Dwarka facility.
• The company ended FY26 with a net cash position of ₹31 crore.

Why it matters

Star Imaging is attempting to accelerate growth significantly after a modest 6% showing in FY26. Maintaining 37.5% EBITDA margins while funding expansion from a net cash position of ₹31 crore is the central test for this nano-cap provider.

What we’re watching

• Revenue contribution from the new Dwarka center.
• Whether the company maintains its debt-free status during the capex cycle.
• Actual FY27 growth against the 25-30% target.

The full read

Star Imaging and Path Lab reported 6% revenue growth to ₹88.5 crore in FY26. Looking ahead, management targets a significant acceleration to 25% to 30% growth in FY27. To support this, the company plans ₹20-25 crore in capital expenditure, including a new diagnostic center in Dwarka that is expected to add ₹5-6 crore in annual revenue. The company is currently net cash positive at ₹31 crore and aims to remain debt-free while sustaining 37.5% EBITDA margins. While the transcript confirms no major surprises, it provides the necessary context for investors to adjust their models. The next test is whether the company can successfully scale its operations to meet these ambitious growth targets without eroding its current margin profile or exhausting its cash reserves.

Primary source: BSE · NSE

What’s new

• FY26 standalone revenue of ₹5,002.53 lakhs is flat versus ₹5,000.02 lakhs in FY25.
• Net profit increased slightly to ₹1,931.60 lakhs from ₹1,891.29 lakhs.
• Auditor issued an unmodified opinion; IPO proceeds utilization disclosed.

Why it matters

This is a public company reporting zero revenue growth over a full year. For a diagnostics player in a growing healthcare market, flat top-line signals a failure to capture new patients or tests. The slight profit uptick likely stems from cost control, not business expansion.

What we’re watching

• Consolidated figures, not yet detailed, for a broader business picture.
• Management commentary on volume drivers or new lab capacity.
• IPO proceeds utilization for signs of delayed expansion.

The full read

Star Imaging and Path Lab's FY26 results show a business standing still. Standalone revenue of ₹5,002.53 lakhs is virtually unchanged from ₹5,000.02 lakhs in FY25. Net profit inched up to ₹1,931.60 lakhs from ₹1,891.29 lakhs, but that minor gain didn't come from any expansion in the top line. The auditor's unmodified opinion is clean. The filing also covers IPO proceeds utilization, but the central question now is whether those funds are translating into any capacity at all when the core business is not growing. This is a routine earnings release with no new information, but the lack of growth is the story.

Primary source: BSE · NSE

What’s new

• FY27 revenue growth target cut to 25-30% from an earlier 30-35% due to licensing delays.
• Regulatory hurdles with PDNT and AERB have been resolved; two new centres are operational.
• FY26 revenue was ₹88.5 cr (+6% YoY), with EBITDA margin up 330 bps to 37.5%.

Why it matters

Star Imaging's entire growth thesis rests on rapid centre expansion, so a licensing hold-up that forces a guidance cut is material, even if the company calls the issue resolved. The profitability improvement in FY26 suggests the core business is healthy, but the stock's fate now hinges on whether the new centres ramp on schedule.

What we’re watching

• Whether the FY27 revenue lands at the ₹110-120 cr level implied by the FY28 guidance.
• Capex execution: ₹20-25 cr planned for FY27 across new centres and equipment.
• Timeline for achieving a debt-free balance sheet, a two-year target.

The full read

Star Imaging missed its own 30-35% FY27 growth target. The new guide is 25-30%. The reason: licensing delays under the Pre-natal Diagnostic Techniques Act and with the Atomic Energy Regulatory Board held up expansion. The company says both are cleared. Two new centres are running; a third in Dwarka, New Delhi, opens in two months. The business itself posted ₹88.5 crore in FY26 revenue, up just 6% year-on-year, but the profitability story is stronger: EBITDA margin gained 330 bps to 37.5%. The plan now is ₹20-25 crore in FY27 capex for more centres and equipment, with a two-year path to a debt-free balance sheet. For a company with a market cap of ₹127 crore, the gap between the old guidance and the new one matters, because the valuation assumes execution.

Primary source: BSE · NSE

What’s new

• Revenue for FY26 reached ₹5,002 lakhs, showing no material growth year-over-year.
• Net profit saw a slight lift to ₹1,931 lakhs, up from ₹1,891 lakhs in FY25.
• Auditors issued an unmodified opinion on the annual accounts.

Why it matters

Star Imaging is a nano-cap operator with limited scale. The flat revenue suggests a period of stasis rather than expansion for the business.

What we’re watching

• Whether the company identifies new growth drivers to break its current revenue ceiling.
• Management commentary on capacity utilization across its diagnostic centers.
• Utilization updates regarding IPO proceeds in upcoming quarterly filings.

The full read

Star Imaging and Path Lab ended the fiscal year in a holding pattern. Revenue for FY26 landed at ₹5,002 lakhs, effectively unchanged from the ₹5,000 lakhs recorded a year prior. Profitability saw a minor improvement, climbing to ₹1,931 lakhs from ₹1,891 lakhs, though this marginal gain does little to alter the company's financial profile.

Stagnant.

With a market capitalization of just ₹131 crore, the firm remains a micro-scale player in the diagnostic space that struggles to move the needle on its top-line performance. The auditor confirmed the results with an unmodified opinion, and the disclosure of IPO proceeds followed standard procedural requirements. There were no surprises in the release. The next test for the company is showing it can do more than keep pace with last year’s figures.

Primary source: BSE · NSE