Pramodini Medicare IPO

SME • NSE SME • Fresh capital cum OFS

LISTEDSMENSE SME

Pramodini Medicare

Price band

₹110 – ₹118

Lot size

1200 shares

Min investment

₹1,41,600

Issue size

₹69.04 Cr

About the company

Pramodini Medicare Limited was started in 2000. It is a diagnostic services company. It runs radiology services such as MRI, CT scan, X-ray, ultrasound with colour doppler, mammography and Dexa scan, clinical laboratory services such as pathology, microbiology, immunology and biochemistry, and nuclear medicine services such as PET-CT, SPECT and nuclear therapy. The company works through four models. Under the public private partnership model it runs diagnostic centres inside government hospitals and medical colleges on long term agreements. Under the private private model it runs centres inside private hospitals. It also works with central government PSUs, and it runs some of its own standalone centres and labs. It has a 24x7 teleradiology unit and a processing laboratory at Vijayawada. As on 4 August 2026 the company ran 16 diagnostic centres across seven states, serving government hospitals, private hospitals, PSUs, medical colleges and individual patients in Tier I, Tier II and Tier III cities. As on 31 March 2026 it had 161 permanent employees.

Pramodini Medicare Limited is a diagnostic services company offering radiology, clinical laboratory and nuclear medicine services. It runs 16 diagnostic centres across seven states, mostly inside government and private hospitals under long term partnership agreements.

IPO details

Issue price: ₹118
Price band: ₹110 – ₹118
Face value: ₹10
Lot size: 1200
Min investment: ₹1,41,600
Issue size: ₹69.04 Cr
Sale type: Fresh capital cum OFS
Listing on: NSE SME
BSE scrip code: PRAMODINI
NSE symbol: PRAMODINI-SM.NS

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	1,200	₹1,41,600
Retail (Max)	1	1,200	₹1,41,600
HNI (Min)	2	2,400	₹2,83,200

Investor reservation

CATEGORY	RESERVED
QIB	25,32,000 shares (45.91% of the Offer)
NII	9,60,000 shares (17.41% of the Offer)
Retail	20,23,200 shares (36.68% of the Offer)

Objects of the issue

1Funding of capital expenditure for purchase of Medical Equipments towards Existing and Proposed Diagnostic Centres45.15

2General corporate purposes and unidentified inorganic acquisition

Financials

Rs. Crore • restated

METRIC	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	93.62	56.45	48.78
Total Income	63.38	38.55	35.79
Profit After Tax	17.38	11.14	7.14
EBITDA	30.90	20.97	15.53
NET Worth	53.15	35.77	24.75
Reserves and Surplus	36.46	34.49	23.46
Total Borrowing	17.85	10.81	11.96

Key performance indicators

P/E Ratio

14.97

EPS (₹)

7.88

RoCE

34.66%

RoNW

32.69%

PAT Margin

27.90%

✓ Strengths

• FY2026 was a strong year. Total income grew 64% from Rs 38.55 crore to Rs 63.38 crore and profit after tax grew 56% from Rs 11.14 crore to Rs 17.38 crore.

• Operating margin is high. EBITDA was Rs 30.90 crore on total income of Rs 63.38 crore in FY2026, which is close to half of the income.

• Profit has grown every year, from Rs 7.14 crore in FY2024 to Rs 11.14 crore in FY2025 and Rs 17.38 crore in FY2026.

• The PPP model with government hospitals gives long term contracts and a steady flow of patients without spending on marketing.

• The business is spread over 16 centres in seven states, so it does not depend on one city or one hospital.

• It offers radiology, laboratory and nuclear medicine together, which is a wider range than most small diagnostic chains.

• Rs 45.15 crore of the issue money is for buying medical equipment for existing and new centres, which will add earning capacity.

• Net worth improved from Rs 24.75 crore in FY2024 to Rs 53.15 crore in FY2026.

⚠ Risks

• Borrowing went up 65% in one year, from Rs 10.81 crore to Rs 17.85 crore.

• A part of the money is kept for general corporate purposes and an unidentified acquisition. The company has not named the target, so investors do not know where that money will go.

• The PPP and hospital contracts run on MOUs that come up for renewal. If a government hospital does not renew or gives the contract to another operator, that centre income stops.

• Diagnostics needs heavy spending on machines. MRI, CT and PET-CT equipment is costly and becomes outdated, so capital spending never really stops.

• A large part of the business comes from government hospitals and PSUs, where payments can be delayed and rates are fixed by tender.

• The company is small, with 161 employees and 16 centres, and competes with large national diagnostic chains that have better brand pull and lower cost per test.

• Promoter holding will come down from 85.71% to 62.64% after the issue.

• This is an SME issue. One lot is 1,200 shares, which is about Rs 1.41 lakh at the upper band of Rs 118, and SME shares usually trade in low volume after listing.

Promoters & holding

Chalasani Kuldeep Kumar, Chalasani Kavitha, Chalasani Durga Aashritha, Chalasani Lalithakumar and Sri Ram Medicare Pvt.Ltd

Pre-issue promoter holding

85.71%

Post-issue promoter holding

62.64%

Data refreshed 07 Nov 2026, 05:06 pm IST. GMP is unofficial market sentiment, not investment advice.