Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹134 Cr.
Stock P/E
8.4
P/B
1.2
Current Price
₹77
Book Value
₹ 66.4
Face Value
10
52W High
₹152
52W Low
₹ 46
Dividend Yield
0%

Star Imaging & Path Overview

Business

Star Imaging and Path Lab Ltd. is primarily engaged in providing diagnostic services. Based on its name, the company operates diagnostic centers offering a range of imaging services (such as X-rays, MRI, CT scans, ultrasound) and pathology lab services (blood tests, urine tests, specialized molecular diagnostics, etc.). Its core business model involves serving individual patients directly, as well as receiving referrals from doctors, clinics, and hospitals. The company generates revenue by charging fees for the various diagnostic tests and imaging procedures it performs.

Revenue Mix

While specific revenue breakdown is not publicly available without financial reports, the company's operations would typically be divided into two main segments:

Imaging Services (Radiology): This segment would encompass a variety of diagnostic scans and imaging procedures.

Pathology Services (Lab Diagnostics): This segment would cover the collection and analysis of biological samples for disease diagnosis and monitoring.

The contribution of each segment would depend on the company's operational focus, equipment capacity, and market demand for specific tests.

Industry

The diagnostic services industry in India is highly fragmented, comprising large national chains, regional players, hospital-attached labs, and numerous standalone centers. It is characterized by increasing competition, technological advancements, and evolving regulatory landscapes. Star Imaging and Path Lab Ltd. likely operates as a regional or city-level player, competing on factors such as location convenience, range of services, quality of equipment, turnaround time, accuracy of reports, and pricing. Its positioning would be against both larger established chains and smaller local labs, aiming to carve out market share through service differentiation and patient trust.

MOAT

For a company like Star Imaging and Path Lab, potential competitive advantages are often built on:

Regional Brand Reputation: A strong local brand built on trust, accuracy, and patient experience can create repeat business and doctor referrals.

Network Density: A well-located network of centers within a city or region can offer convenience and accessibility.

Technology & Expertise: Investment in advanced diagnostic equipment and the recruitment of skilled radiologists and pathologists can provide a quality edge for specialized tests.

Operational Efficiency: Streamlined processes leading to faster turnaround times and competitive pricing can be an advantage in a price-sensitive market.

Without specific details, its moat is likely to be a combination of a reliable local brand and service quality, rather than significant scale or unique proprietary technology.

Growth Drivers

Key factors that can drive growth for Star Imaging and Path Lab Ltd. over the next 3-5 years include:

Rising Healthcare Awareness: Increasing health consciousness and emphasis on preventive check-ups among the Indian population.

Prevalence of Chronic Diseases: A growing burden of lifestyle diseases and chronic conditions requiring continuous diagnostic monitoring.

Aging Population: The demographic shift towards an older population leads to higher demand for diagnostic services.

Medical Tourism: Growth in healthcare services can also indirectly benefit diagnostic centers.

Expansion & Technology Upgrades: Opening new collection centers or diagnostic labs, and investing in advanced equipment and specialized tests.

Digitization: Adoption of digital platforms for bookings, report delivery, and data analytics can improve efficiency and patient experience.

Risks

Intense Competition: The fragmented nature of the industry leads to price wars and pressure on margins.

Technological Obsolescence: Rapid advancements in diagnostic technology necessitate continuous, significant capital expenditure for equipment upgrades.

Regulatory Changes: Potential government interventions on pricing caps for certain tests or stricter quality accreditation standards could impact profitability.

Manpower Shortage: Scarcity of qualified radiologists, pathologists, and skilled technicians can affect service quality and expansion plans.

Reputational Risk: Misdiagnosis, delayed reports, or poor patient service can severely damage brand trust and lead to loss of business.

Capital Intensity: High upfront costs for setting up labs and acquiring advanced machinery, coupled with ongoing maintenance expenses.

Management & Ownership

As is common for many Indian companies, Star Imaging and Path Lab Ltd. is likely a promoter-led organization, where the founding family or individuals hold significant control and drive strategic decisions. Without publicly available information, details regarding specific management quality, board composition, and the precise ownership structure (e.g., promoter holding, institutional investors, public float) are not determinable.

Outlook

Star Imaging and Path Lab Ltd. operates within India's structurally growing healthcare diagnostics sector, driven by demographic shifts, increasing awareness, and rising healthcare expenditure. The company's success will depend on its ability to build and maintain a strong regional brand reputation based on accuracy, reliability, and patient service, which is crucial in a trust-based industry. However, it faces significant challenges including intense competition from both large national chains and local players, the high capital expenditure required for technological upgrades, and potential regulatory pressures. Its future trajectory will be shaped by effective execution, strategic expansion, efficient capital allocation, and the ability to differentiate its services in a competitive market.

Star Imaging & Path Share Price

Live · BSE · Inception: 2004
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Star Imaging & Path Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Star Imaging & Path Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 69 59 79 84
Other Income 0 0 1 0
Total Income 69 59 80 84
Total Expenditure 54 52 56 55
Operating Profit 15 6 24 29
Interest 2 2 2 3
Depreciation 4 3 5 5
Exceptional Income / Expenses 0 0 0 0
Profit Before Tax 9 1 16 21
Provision for Tax 3 0 4 5
Profit After Tax 6 1 12 16
Adjustments -0 -0 -0 -0
Profit After Adjustments 6 1 12 16
Adjusted Earnings Per Share 4.7 0.4 9.2 11.8

Star Imaging & Path Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 18 19 31 47
Minority's Interest 0 0 0 0
Borrowings 17 14 16 15
Other Non-Current Liabilities 2 2 2 2
Total Current Liabilities 21 26 33 34
Total Liabilities 58 61 82 98
Fixed Assets 15 13 22 21
Other Non-Current Assets 12 22 7 10
Total Current Assets 32 26 53 67
Total Assets 58 61 82 98

Star Imaging & Path Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 6 9 2 16
Cash Flow from Operating Activities 14 5 18 -6
Cash Flow from Investing Activities -4 -7 -7 -4
Cash Flow from Financing Activities -7 -5 2 -0
Net Cash Inflow / Outflow 3 -7 13 -10
Closing Cash & Cash Equivalent 9 2 16 5

Star Imaging & Path Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 4.66 0.43 9.2 11.8
CEPS(Rs) 7.27 2.91 13.11 15.49
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) 13.6 14.03 23.22 34.93
Core EBITDA Margin(%) 21.24 10.32 28.73 34.31
EBIT Margin(%) 16.4 4.87 23.59 28.72
Pre Tax Margin(%) 13.59 1.52 20.46 25.67
PAT Margin (%) 9.11 1 15.81 19.11
Cash Profit Margin (%) 14.21 6.71 22.46 25.05
ROA(%) 10.79 0.98 17.43 17.75
ROE(%) 34.28 3.13 49.53 40.65
ROCE(%) 23.64 6.1 34.58 33.81
Receivable days 85.39 105.29 116.4 182.27
Inventory Days 0.4 2.21 2.69 1.68
Payable days 130.08 364.68 504.94 547.66
PER(x) 0 0 0 0
Price/Book(x) 0 0 0 0
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 0.32 0.44 0.21 0.49
EV/Core EBITDA(x) 1.48 4.15 0.69 1.41
Net Sales Growth(%) 0 -15.28 34.6 5.99
EBIT Growth(%) 0 -74.86 552.4 29.06
PAT Growth(%) 0 -90.74 2036.52 28.12
EPS Growth(%) 0 -90.8 2045.1 28.26
Debt/Equity(x) 1.61 1.4 0.98 0.69
Current Ratio(x) 1.48 1.01 1.63 1.97
Quick Ratio(x) 1.48 0.98 1.61 1.96
Interest Cover(x) 5.83 1.45 7.54 9.4
Total Debt/Mcap(x) 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +6% +7% — —
Operating Profit CAGR +21% +25% — —
PAT CAGR +33% +39% — —
Share Price CAGR -42% — — —
ROE Average +41% +31% +32% +32%
ROCE Average +34% +25% +25% +25%

Star Imaging & Path Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 71.92 %
FII 0.61 %
DII (MF + Insurance) 5.1 %
Public (retail) 22.38 %
# Jun 2025 Aug 2025 Sep 2025 Mar 2026
Promoter 71.9271.9271.9271.92
FII 1.181.181.370.61
DII 10.7710.778.735.1
Public 16.1316.1317.9922.38
Others 0000
Total 100100100100

Star Imaging & Path Peer Comparison

Hospital & Healthcare Services Edit Columns

Star Imaging & Path Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Star Imaging & Path Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 31%
  • Company has reduced debt.

Cons

  • Debtor days have increased from 504.94 to 547.66days.
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