Invicta diagnostics shares jump 8.6% in today’s session; Here’s why

Synopsis: The recently listed company- Invicta Diagnostic Ltd,had expanded its core business by acquiring another company in the same space and setting up 3 new subsidiaries to expand its operations.

Invicta diagnostics is a microcap company in the business of providing radiology and pathology solutions announced its acquisition along with introducing 3 new LLP. Soon after this news the stock rose by upto 9 percent on 6th January, 2026.

With a market cap of Rs 103 Cr, Invicta Diagnostic Ltd saw its stock hit an intraday high of Rs 84 which is 8.6 percent higher than the previous close of Rs 77.3.  From 8th December 2025 i.e the listing day of the stock,  Invicta Diagnostic Ltd has witnessed a 17 percent drop.

The Reason

Invicta Diagnostic Limited has approved the incorporation of three subsidiary LLPs in Maharashtra- Shegaon Diagnostic LLP, with 51 percent owned by the listed company, Invicta Diagnostic Healthplus LLP with 99 percent owned, and also Invicta Diagnostic Lifecare LLP with 99 percent owned.

These entities will focus on radiology and pathology diagnostic services, enabling geographical expansion of the company’s core healthcare business. All three LLPs are expected to be incorporated within approximately three months, with a minimal initial capital outlay of Rs 51,000 to Rs 99,000.

Additionally, the company has approved the acquisition of up to 95 percent stake in Vinchurkar Diagnostics Private Limited, Nashik, which is a well-established diagnostic firm that was founded in 1993. The company is known for being the first provider of CT & Mammography service in Nasik, and has also been providing MRI and Superconducting MRI services since 1999 and 2004, respectively. 

The acquisition will be executed in two tranches 51 percent by June 30, 2026, followed by up to an additional 44 percent within three months at a total cash consideration of Rs 7.6 Crore, that is to be completed within 12 months. Vinchurkar Diagnostics has demonstrated stable revenues growth, with FY25’s being at Rs. 4.45Crore which is 8.5 percent higher than FY23’s and 0.2 percent higher than FY24’s. The acquisition will strengthen Invicta’s presence in Nashik while also adding proven revenue-generating assets to the group. 

These announcements align well with the company’s expansion plan of pushing beyond MMR and deepening its footprint in Maharashtra. In FY25 the Revenue was largely driven by radiology (90.5 percent), with pathology contributing 9.5 percent. The company had individual consumers accounted for 86.75 percent of the revenue in the previous fiscal year, while institutional customers were only 13.25 percent.  

Business Overview

Invicta Diagnostic Limited is based out of Mumbai and offers radiology and pathology solutions. The company was incorporated in January 2021. As of FY25, Invicta served 1,03,602 patients and conducted 1,76,248 tests with an ARPT of Rs 1,707.55. 

In FY25 the company saw a YoY revenue growth of 275 percent, going from Rs 8 Cr in FY24 to Rs 30 Cr in FY25. The YoY Net Profits growth for the previous fiscal year were at 74 percent, going from Rs 2.7 Cr in FY24 to Rs 4.7 Cr in FY25. Moreover, the company has a ROCE of 46 percent and a ROE of 32 percent.

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