Sterling Accuris’ revenue surpasses Rs 200 Cr in FY25, turns EBITDA positive

Diagnostic and pathology services chain Sterling Accuris Diagnostics managed 22% year-on-year growth in its operating scale during the fiscal year ending March 2025. Significantly, the Ahmedabad-based firm also narrowed its losses and turned EBITDA positive during the last fiscal year.

The company’s revenue from operations grew to Rs 198 crore in FY25 from Rs 162 crore in FY24, its consolidated financial statements sourced from the Registrar of Companies (RoC) show.

Founded in 2014, Sterling Accuris Diagnostics offers over 2,000 tests through around 150 labs and collection centers across four states, with testing services as its sole source of revenue.

The firm made additional Rs 4 crore from non-operating sources which drove its total income to Rs 202 crore in FY25 from Rs 169 crore in FY24.

When it comes to spending, employee benefits were the largest expense at Rs 52 crore, increasing 18% from Rs 44 crore in FY24, followed by material costs at Rs 45 crore and doctor and pathologist fees at Rs 40 crore. Depreciation charges stood at Rs 19 crore, while finance cost was Rs 6 crore in the last fiscal year. Overall, Sterling Accuris Diagnostics’  total expense increased by 14% to Rs 221 crore in FY25 from Rs 194 crore in FY24. 

For a more detailed expense breakup, refer to TheKredible.

With revenue outpacing expense growth, the firm controlled its loss by 15% to Rs 23 crore in FY25 from Rs 27 crore in FY24. Importantly, it posted a positive EBITDA of Rs 5.5 crore in FY25 with EBITDA margin improving to 2.72% from -0.59%. Sterling Accuris Diagnostics’ ROCE stood at -7.07%.

On a unit basis, Sterling Accuris spent Rs 1.12 to earn a rupee in FY25, an improvement from Rs 1.20 in FY24. As of March 2025, the company recorded current assets worth Rs 52 crore in FY25 including Rs 22 crore in cash and bank balances.

According to TheKredible, Sterling Accuris has raised a total of $33 million of funding till date. Its lead investors are Morgan Stanley, holding a 35.64% stake, and Udhay Vi Realty, with a 17%.