Company Disclosure

Financial Highlights - Consolidated FY 2025-26

Revenue from Operations: ₹3,543.41 lakh (includes CORIS sales of ₹779.57 lakh for Q4 and ₹3,591.19 lakh for FY)

  • Comparison: Increased from ₹2,249.51 lakh in FY 2024-25 (57.5% growth)

Profit Before Tax: ₹1,464.62 lakh (includes CORIS profit of ₹207.06 lakh for Q4 and ₹876.17 lakh for FY)

  • Comparison: Increased from ₹1,253.91 lakh in FY 2024-25

Profit After Tax: ₹980.48 lakh

  • Comparison: Increased from ₹803.55 lakh in FY 2024-25

Earnings Per Share (Rs.): 11.44

  • Comparison: Increased from 9.38 in FY 2024-25

Paid-Up Equity Share Capital: ₹856.84 lakh (unchanged from previous year)

Reserves: ₹26,243.65 lakh

  • Comparison: Increased from ₹21,690.58 lakh in FY 2024-25

Other Expenses: Includes one-time expenses of ₹174.08 lakh for M&A Advisory and Due Diligence related to acquisition of Coris Bioconcept SRL, Belgium

Division-wise Performance

Agrochemicals Division

Export Sales: ₹277.74 lakh in FY 2025-26

  • Comparison: Decreased from ₹356.75 lakh in FY 2024-25 (22% de-growth)
  • Reason: Geopolitical tensions in Bangladesh resulting in less demand in Q4

Product Portfolio: 128 products across various categories including Insecticides (70), Fungicides (15), Herbicides (11), Public Health (11), Bio-products (11), and others

Business Model: Focus on government procurement through GeM platform and exports to Bangladesh

Debt Status: Minimal debt

Molecular Diagnostics (MDx) Division

Founded: November 2010 (15 years in molecular diagnostics)

Core Focus: Design, Development & Manufacture of Molecular Diagnostic Kits

  • qPCR Assays (TRUPCR®)
  • Lateral Flow Assays (TRURAPID®)
  • NGS Assays (TRUNGS®)
  • Digital PCR Assays (TRUdPCR®)

Product Portfolio: 120+ Molecular Diagnostic Assays Developed

Certifications:

  • ISO 13485:2016 (BSI, UK)
  • Licensed by CDSCO, Govt. of India
  • IVDR compliant (EU 2017/746)

FY 2025-26 Revenue: ₹13,111.81 lakh (includes TRUPCR Europe: ₹2,067.19 lakh and Coris BioConcept: ₹3,591.19 lakh)

  • Comparison: Increased from ₹8,428.25 lakh in FY 2024-25

Exports: ₹2,140.94 lakh

  • Comparison: Increased from ₹1,703.52 lakh in FY 2024-25 (25.7% growth)

Standalone Growth: 10.4% (affected by absence of seasonal flu/dengue sales spike of ₹420 lakh and Middle East geopolitical tensions causing export order cancellations)

Strategic Acquisitions and Subsidiaries

Coris BioConcept SRL, Belgium

Acquisition Date: August 29, 2025

Performance Review:

  • HAT Sales: EUR 1.35M in 2025 vs EUR 2.1M in 2024 (decrease due to disturbance in Congo)
  • Expected HAT Sales for 2026-27: EUR 1.35M - 1.50M
  • HAT Contract: Belgium Govt. Order of EUR 6.0M received February 2024 (4-year supply)
  • Excluding HAT and R&D, sales growth of 9% with 30% growth in AMR segment (69% of sales)

Future Outlook:

  • Expected AMR products growth: 15-20% for 2026-27
  • Overall expected sales growth: 10-15% with slight positive EBITDA
  • US FDA registration for RESIST-5 AMR in progress (1-2 years completion timeline)
  • IVDR certification obtained for two main AMR products

TRUPCR Europe Limited - Manchester Site

FY 2025-26 Performance: 36% sales growth vs FY 2024-25

4-year CAGR: 40.4%

Certification: ISO 13485:2016 from BSI (UK)

Market Position and Growth Strategy

Indian MDx Market:

  • Total Addressable Market (TAM): ₹500-600 Cr
  • Company Market Share: ~15% (among market leaders)
  • Industry Growth Projection: 8-10% CAGR
  • Company Growth Target: 15-20% for FY 2026-27

Sales Models in India:

  • Tender Sales: 5-7% of total sales
  • Contractual/Reagent Rental Model: 20-25% of total sales (15+ long-term contracts)
  • Other Supplies: 65-70% of total sales

Credit Policy: Liberal credit policy resulting in higher debtor levels to sustain competition

Global Presence: 70+ countries across Europe, Middle East, APAC, LATAM, and North America

  • Export Distribution: Europe (45%), Middle East (25%), APAC (25%), RoW (5%)

Regulatory Progress

IVDR Certification:

  • Regulation (EU) 2017/746 effective from May 26, 2017
  • Transition period until December 31, 2028 for legacy devices
  • BSI Group appointed as Notified Body
  • Successfully passed IVDR-aligned QMS audits in November 2025
  • Technical evaluation of product groups underway

Product Development and Launches

New Product Launches:

  • TRURAPID® RESIST-5 OKNVI Rapid Test (AMR)
  • TRURAPID® RESIST ACINETO Rapid Test (AMR)
  • TRURAPID® RESIST CTX-M Rapid Test (AMR)
  • TRUNGS® Solid Tumor Panel
  • TRUNGS® BRCA Plus Kit (forthcoming)
  • TRUNGS® MTB - MDR NGS Kit (forthcoming)

Digital PCR:

  • dPCR technology assays commercially launched in Q3 FY 2025-26
  • Currently nominal sales

Automated Extraction System:

  • Planning to supply on reagent-rental basis to retain customers long-term

R&D Strengths

  • Team of scientific professionals including Ph.Ds. and M.Scs.
  • Continuous pipeline expansion with several products in development for next 2 years
  • Focus on assay sensitivity, specificity, and workflow efficiency improvements

Utilization of Funds and M&A Strategy

  • Actively seeking M&A opportunities in EU and USA IVD segment
  • Focusing on manufacturers or distributors in molecular, microbiology, immunology
  • Funds deployment planned for Manchester joint venture as needed

Capacity Utilization

  • Current operation: ~65% of installed capacity
  • Full potential achievable during seasonal demand spikes
  • Lean season utilization: ~50%

CSR Activities

Company supported multiple organizations including:

  • Army Wives Welfare Association (AWWA)
  • ARUSHI (upgrading Occupational Therapy Centre)
  • Sightsavers (Netra Vasant - Rural Eye Health Programme)
  • Friends of Tribals Society (Ekal Vidyalaya)
  • Prerna Sewa Trust, Bhopal
  • Sahara Saksharta
  • Cachar Cancer Hospital & Research Centre

CSR Policy Focus: Health, Education & Employment, Community Responsibility

Awards and Recognition

  • National MSME Award 2018 (Presented by Hon'ble President of India)
  • Outstanding Achievement Award (2017 & 2022) by MP Chambers of Commerce & Industries
  • Featured in FORBES INDIA DGEMS 2023 Top 200 Global Potential Companies
  • Selected as part of "Select 200 Companies" at DGEMS2023