Suraksha Diagnostic Ltd. (SURAKSHA) AI Stock Analysis

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Suraksha Diagnostic Ltd.

(NSE:SURAKSHA)

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Rating:63Neutral

Price Target:INR 307.00▼(-3.28% Downside)

Action:reiterated

Date:08/23/26

The score is driven primarily by solid but not flawless financial performance: improved growth/profitability versus FY23, but with FY26 margin volatility, rising leverage, and weak free-cash-flow conversion. Technicals are supportive with price above major moving averages and positive MACD, though momentum looks stretched (high RSI/Stoch). Valuation is the main headwind due to a high P/E and no dividend yield provided.

Positive Factors

Sustained Revenue GrowthMulti-year revenue growth indicates expanding demand for Suraksha Diagnostic’s pathology and imaging services. The rebound from FY23 and continued double-digit growth provide a durable foundation for operating leverage, broader customer reach, and sustained earnings expansion over the next several quarters.

Negative Factors

Margin VolatilityThe sharp gross-margin decline and lower net margin indicate that profitability has not been consistently sustained despite revenue growth. Potential pricing, cost, or mix pressure could limit earnings scalability and make future profit growth less predictable across reporting periods.

Suraksha Diagnostic Ltd. (SURAKSHA) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 16.48B
Dividend Yield: 0.31%
Average Volume (3M): 9,006
Price to Earnings (P/E): 46.0
Beta (1Y): 0.90
Revenue Growth: 23.31%
EPS Growth: 7.56%
Country: India
Employees: 1,600
Sector: General
Sector Strength: 55
Industry: Medical - Care Facilities

Suraksha Diagnostic Ltd. Business Overview & Revenue Model

Company Description

Suraksha Diagnostic Limited operates a chain of diagnostic centers in India. It offers pathology testing services, such as microbiology, serology, molecular biology, histopathology, cytopathology, clinical pathology, and haematology; genomics testing...

How the Company Makes Money

Suraksha Diagnostic Ltd. primarily makes money by charging fees for diagnostic services. Its key revenue streams generally include: (1) Pathology/laboratory testing revenue: income from routine and specialized clinical lab tests (e.g., biochemistry,...

Suraksha Diagnostic Ltd. Financial Statement Overview

Summary

Growth and profitability have improved versus FY23, with healthy FY26 operating margin (~17.5%) and EBITDA margin (~30.9%). Offsetting this, FY26 showed notable margin volatility (sharp gross margin drop and net margin compression to ~10.4%), leverage has drifted higher since FY25 (debt-to-equity ~0.53), and free cash flow conversion is weak and choppy (FCF ~0.20x net income in FY26).

Income Statement

72Positive

Balance Sheet

64Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	3.25B	3.10B	2.52B	2.19B	1.90B	2.23B
Gross Profit	1.90B	1.79B	2.23B	1.91B	762.56M	862.85M
EBITDA	1.04B	958.61M	850.88M	728.39M	474.79M	652.53M
Net Income	357.98M	321.87M	318.24M	236.26M	65.16M	208.24M
Balance Sheet
Total Assets	0	4.48B	3.34B	3.00B	2.81B	2.76B
Cash, Cash Equivalents and Short-Term Investments	263.48M	263.48M	226.36M	515.96M	522.79M	412.89M
Total Debt	0	1.30B	888.86M	904.76M	968.74M	997.95M
Total Liabilities	-2.43B	2.05B	1.23B	1.21B	1.26B	1.30B
Stockholders Equity	2.43B	2.45B	2.11B	1.79B	1.56B	1.46B
Cash Flow
Free Cash Flow	132.32M	168.14M	213.35M	157.90M	309.29M	385.74M
Operating Cash Flow	366.93M	841.59M	633.59M	604.84M	440.96M	578.23M
Investing Cash Flow	-218.05M	-547.84M	-395.84M	-349.96M	-207.95M	-432.81M
Financing Cash Flow	-150.27M	-284.07M	-240.48M	-251.30M	-243.28M	-142.85M

Suraksha Diagnostic Ltd. Technical Analysis

Technical Analysis SentimentPositive

Last Price317.40

Price Trends

50DMA326.58Negative

100DMA296.38Positive

200DMA285.62Positive

Market Momentum

MACD-4.34Negative

RSI51.02Neutral

STOCH83.31Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SURAKSHA, the sentiment is Positive. The current price of 317.40 is above the 20-day moving average (MA) of 312.80, below the 50-day MA of 326.58, and above the 200-day MA of 285.62, indicating a neutral trend. The MACD of -4.34 indicates Negative momentum. The RSI at 51.02 is Neutral, neither overbought nor oversold. The STOCH value of 83.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SURAKSHA.

Suraksha Diagnostic Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SURAKSHA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:LALPATHLAB	74Outperform	INR 319.97B	58.77	―	0.84%	14.29%	5.55%
IN:VIMTALABS	69Neutral	INR 21.67B	27.15	―	0.41%	14.22%	7.17%
IN:THYROCARE	65Neutral	INR 72.74B	50.42	―	2.04%	21.99%	12.77%
IN:SURAKSHA	63Neutral	INR 16.53B	45.98	―	0.31%	23.31%	7.56%
IN:KRSNAA	61Neutral	INR 16.35B	16.77	―	0.40%	10.19%	20.99%
IN:METROPOLIS	59Neutral	INR 113.09B	56.06	―	0.37%	21.80%	31.84%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:SURAKSHA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SURAKSHA	Suraksha Diagnostic Ltd.	317.40	1.74	0.55%
IN:KRSNAA	Krsnaa Diagnostics Limited	504.10	-281.30	-35.82%
IN:LALPATHLAB	Dr. Lal PathLabs Limited	1906.30	296.36	18.41%
IN:METROPOLIS	Metropolis Healthcare Ltd.	545.15	46.06	9.23%
IN:THYROCARE	Thyrocare Technologies Ltd	457.00	2.20	0.48%
IN:VIMTALABS	Vimta Labs Limited	484.85	-194.79	-28.66%

Suraksha Diagnostic Ltd. Corporate Events

Suraksha Diagnostic Board Addresses NSE Non-Compliance Over Delayed Shareholding Filing

Oct 14, 2026

Suraksha Diagnostic Limited disclosed that it was found non-compliant with Regulation 31 of SEBI’s Listing Obligations and Disclosure Requirements due to a one-day delay in filing its shareholding pattern for the quarter ended June 30, 2026 wit...

Suraksha Diagnostic shuts trading window ahead of half-year results

Sep 28, 2026

Suraksha Diagnostic Limited has announced that its trading window for dealing in the company’s securities will be closed for all designated persons and their immediate relatives from 1 October 2026 until 48 hours after the announcement of its u...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 23, 2026

Suraksha Diagnostic Ltd. AI Stock Analysis

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