| Market Cap | ₹1,670.6 CrHealthcare Services |
|---|---|
| PE TTM | 17.14Sector PE 49.87 |
| Revenue TTM | ₹815.3 Cr9.89% Annual Growth |
| RSI | 36.24Neutral Zone |
| Order from | AZmed |
Key highlights
- Strategic evaluation of AZmed's Rayvolve AI suite for automated fracture and dislocation triage
- Krsnaa processes over 5 million X-ray scans annually, providing significant scale for AI deployment
- Collaboration aims to improve radiologist productivity and reporting efficiency across 19 Indian states
- AZmed brings global expertise with FDA-cleared technology used in over 2,500 healthcare facilities
- Integration intended to build capacity for future growth while maintaining clinical decision-making standards
Enhancing Efficiency for 5 Million Annual Scans
Krsnaa Diagnostics Limited has announced a strategic partnership with AZmed, a European MedTech specialist, to integrate advanced medical imaging tools into its radiology workflow. The collaboration focuses on evaluating the AZtrauma solution, part of the Rayvolve AI suite, designed to detect fractures, dislocations, and joint effusions in X-ray imagery. By leveraging AI at a scale of 5 million X-rays annually, Krsnaa aims to improve reporting accuracy and shorten turnaround times.
This initiative aligns with the company's broader strategy to enhance operational productivity and unlock operating leverage across its extensive diagnostic network, which spans urban and underserved markets.
India Largest Radiology Infrastructure
- Operates over 190 CT and MRI centers across 19 Indian states and union territories
- Manages a network of 2,000+ X-ray centers and 212 pathology laboratories
- Supports a clinical base of more than 4,700 patient collection centers nationwide
- Runs the first ACR-recognized teleradiology hub outside the United States in Pune
- Maintains a PPP-led model offering services at rates significantly below market prices
Contextual Growth and Public Private Partnerships
This partnership comes as Krsnaa continues an aggressive expansion of its public-private partnership footprint. In September 2026, the company executed a 15-year agreement with the Punjab Health Systems Corporation to develop PET-CT facilities across four government hospitals. Earlier, in July 2026, it secured a 7-year contract to manage CT scan facilities at 34 health institutions in Himachal Pradesh.
These contract wins, combined with the 2025 acquisition of a stake in Apulki Healthcare, underscore Krsnaa's shift toward high-end specialized diagnostics and AI-driven efficiency to manage growing diagnostic volumes while maintaining a high bid-to-win ratio of 75 percent.
Global Expertise from AZmed
Founded in Paris in 2018, AZmed is recognized for developing the first AI software to receive a CE marking for fracture detection on X-rays. The company has since secured multiple FDA 510(k) clearances and its technology has analyzed more than 15 million medical images globally. By partnering with Krsnaa, AZmed gains access to one of the largest diagnostic workflows in India.
The collaboration will explore the potential of globally developed technology within the Indian healthcare ecosystem, providing radiologists with AI-assisted tools that support diagnostic consistency and operational efficiency without replacing the central role of human expertise.
| Date | Announcement | Amount |
|---|---|---|
| 16 Sep 2026 | Concession agreement executed with Punjab Health Systems Corporation (PHSC) under the DBFOT PPP model for 15 years to develop, operate, and maintain PET-CT diagnostic facilities at 4 government hospitalsSource: NSE filing | – |
| 23 Jul 2026 | Public-Private Partnership agreement executed with Directorate of Health Services, Government of Himachal Pradesh to operate, manage, and maintain CT scan diagnostic facilities across 34 government health institutions for 7 yearsSource: BSE filing | – |
| 07 Jul 2025 | Partnership consortium agreement with Telecommunications Consultants India Ltd (TCIL) following fresh Letter of Award from NHM Rajasthan to implement hub-and-spoke laboratory diagnostics across RajasthanSource: bsmedia.business-standard.com | – |
| 31 Mar 2025 | Share purchase and shareholders agreements executed to acquire a 23.53% stake in Apulki Healthcare Private Limited, securing exclusive 30-year diagnostic partnership rights for its oncology and cardiology hospitalsSource: krsnaadiagnostics.com | – |
What to watch next
- Board of Directors meeting on November 3, 2026, to review Q2 FY27 financial results
- Evaluation outcomes of the AI-assisted reporting and potential regulatory approvals for full implementation
- Implementation milestones for the 15-year PET-CT diagnostic facility project in Punjab government hospitals
“By integrating advanced AI technologies into our high-volume radiology operations, we aim to unlock operating leverage, enhance productivity, expand reporting capacity and build a more scalable operating model enabling Krsnaa to serve more patients with best-in-class technology at highly affordable prices.”
“With approximately 5 million X-rays reported every year, Krsnaa has the scale and operational experience to evaluate how AI-assisted radiology can contribute to more efficient workflows.”
| Share price | ₹515 |
|---|---|
| Market capitalisation | ₹1,670.59 Cr |
| Revenue (annual) | ₹772.77 Cr |
| Net profit (annual) | ₹101.43 Cr |
| Revenue (latest quarter) | ₹235.53 Cr+22.29% vs previous quarter |
| Net profit (latest quarter) | ₹16.55 Cr-60.33% vs previous quarter |
| P/E (TTM) | 17.14×Sector 49.87× |
| Promoter holding | 27.11%0.00% QoQ |
| FII holding | 3.84%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Krsnaa Diagnostics Ltd announcing a strategic AI collaboration with AZmed. Market figures from a third-party data provider.
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