Molbio Diagnostics posts Rs 1,020 Cr revenue and Rs 138 Cr PAT in FY25

Goa-based molecular diagnostics firm Molbio closed FY25 with Rs 1,020 crore in revenue and Rs 138.5 crore profit, marking a sharp recovery from its post-COVID slump. The Temasek-backed unicorn, which had shot into the limelight during the pandemic, saw its revenue peak at Rs 1,272 crore in FY21 before crashing to Rs 332 crore in FY23.

According to its draft red herring prospectus (DRHP) filed with SEBI, Molbio’s scale grew 22% from Rs 836 crore in FY24 while its profits surged 66% during FY25, underlining the company’s turnaround ahead of its proposed public listing.

The growth was largely powered by its flagship Truenat platform, a portable, battery-operated molecular testing system used for tuberculosis and over 30 other infectious diseases. As per the DRHP, the compnay claims to have sold 2,180 devices with 12.24 million test kits in FY25.

Molbio’s total expenses grew 25% to Rs 820 crore in FY25. Raw material consumption accounted for more than half of the cost base at Rs 413 crore, while employee benefits rose 61% to Rs 103 crore. Advertising and marketing spend nearly doubled to Rs 22 crore.

At the same time, the company’s EBITDA margin stood at 26.17% while return on capital employed (ROCE) was at 22.06% in FY25. On a unit level, it spent Rs 0.80 to earn a rupee of revenue, compared to Rs 0.82 in FY24.

The company currently operates five manufacturing units across Goa, Bengaluru, and Visakhapatnam, with an installed capacity of 3,600 Truenat devices and 3.9 crore test kits annually. Backed by Temasek and Motilal Oswal Private Equity, Molbio has raised about Rs 970 crore to date.

Through its IPO, Molbio plans to raise Rs 200 crore via a fresh issue, while existing shareholders will offload 1.25 crore shares through an offer for sale. The proceeds will be used for a new R&D facility, expansion of manufacturing units, and general corporate purposes.

As per the DRHP, Exxora Trading LLP is the largest shareholder in Molbio with a 41.23% stake, followed by India Business Excellence Fund at 12.66%. Temasek owns 8.93%, while Gopalkrishna Mangalore Kini and Dr. Chandrasekhar Bhaskaran Nair hold 6.73% and 5.42%, respectively.

Molbio has bounced back from its pandemic boom and later slump to steady growth and profits, making it one of the few healthcare startups ready to go public. Its IPO will be watched closely to gauge investor interest in diagnostics companies after COVID-19.