How much did Krsnaa cut its Rajasthan revenue target?

Management slashed its FY27 aspiration to ₹100-150 crores, down from a prior expectation of ₹200-250 crores. The revision follows a slower-than-expected rollout of its labs and collection centres.

Why was the Rajasthan guidance cut?

The rollout of 27 mother labs and 800 collection centres is now expected to complete only by the second quarter of FY27, delaying revenue recognition from the state.

What is happening in the retail business?

Retail diagnostics revenue jumped sixfold to ₹60 crores, now contributing about 8% of the company's overall revenue, showing early signs of scale.

Has the company improved its cash collection?

Days sales outstanding improved to 139 days in Q4, down from 155 days in Q3. Management is targeting a further reduction to sub-120 days in FY27.

How did overall profitability look?

Q4 profit after tax surged 101% year-on-year to ₹417 million. For the full year, the company reported ₹7,728 million in revenue and a 28% EBITDA margin.

Earnings · Diagnostics · Small cap

Krsnaa cuts Rajasthan PPP target by half, to ₹100-150 cr for FY27

The public-private partnership rollout is behind schedule, forcing a sharp downward revision to a growth pillar the company had been selling.

— 6 earlier stories on Krsnaa Diagnostics Ltd. →

KRSNAA By Tipsheet Editorial 29 May 2026 · 7:06 PM IST Verify on BSE · NSE

Mkt cap₹1,782 cr

P/E17.57×

ROE8.79%

Debt / eq.0.23

Div yld0.36%

₹100-150 cr New FY27 revenue guidance for the Rajasthan PPP project.

What's new

Rajasthan PPP revenue guidance for FY27 cut to ₹100-150 cr from a prior aspiration of ₹200-250 cr.
The rollout of 27 mother labs and 800 collection centres is now expected to complete only by Q2.
Retail diagnostics revenue jumped 6x to ₹60 cr, while DSO improved to 139 days from 155 days in Q3.

Why this matters

The Rajasthan PPP was a core growth catalyst Krsnaa has been pitching. Halving the target signals execution is significantly slower than promised. The retail segment is scaling, but not fast enough to mask the shortfall.

What we're watching

Whether the Q2 completion deadline for the Rajasthan rollout holds.
If retail can sustain 6x growth after the initial scale-up.
DSO trending toward the sub-120-day target in FY27.

The full read

Krsnaa Diagnostics has halved its revenue aspiration for the Rajasthan PPP project. Management now expects the state business to generate ₹100-150 crore in FY27, down from a prior target of ₹200-250 crore. The reason is a delayed rollout. The 27 mother labs and 800 collection centres will not be fully operational until the second quarter. This was a key growth catalyst the company had been pitching to the market. The retail segment is scaling fast, jumping 6x to ₹60 crore, but it is still just 8% of total revenue. For the full year, the company posted ₹7,728 million in revenue and 28% EBITDA margins. Q4 PAT surged 101% year-on-year to ₹417 million. The balance sheet is improving too, with DSO contracting to 139 days from 155 days in Q3. Not fast enough. The open question is whether retail growth can offset the Rajasthan delay.

Questions answered

How much did Krsnaa cut its Rajasthan revenue target?: Management slashed its FY27 aspiration to ₹100-150 crores, down from a prior expectation of ₹200-250 crores. The revision follows a slower-than-expected rollout of its labs and collection centres.
Why was the Rajasthan guidance cut?: The rollout of 27 mother labs and 800 collection centres is now expected to complete only by the second quarter of FY27, delaying revenue recognition from the state.
What is happening in the retail business?: Retail diagnostics revenue jumped sixfold to ₹60 crores, now contributing about 8% of the company's overall revenue, showing early signs of scale.
Has the company improved its cash collection?: Days sales outstanding improved to 139 days in Q4, down from 155 days in Q3. Management is targeting a further reduction to sub-120 days in FY27.
How did overall profitability look?: Q4 profit after tax surged 101% year-on-year to ₹417 million. For the full year, the company reported ₹7,728 million in revenue and a 28% EBITDA margin.

Mentioned: Krsnaa Diagnostics · Rajasthan PPP project · ₹100-150 cr FY27 guidance

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Story so far

All notes on KRSNAA →

29 May 2026 · 7:06 PM IST Krsnaa cuts Rajasthan PPP target by half, to ₹100-150 cr for FY27
4d ago Krsnaa Diagnostics cuts Rajasthan revenue guidance by 50%
5d ago Krsnaa Diagnostics releases Q4 and FY26 management commentary
5d ago Krsnaa Diagnostics reports FY26 results with no new surprises
5d ago Krsnaa Diagnostics reports FY26 profit of ₹101.4 crore