Star Imaging and Path Lab IPO Review

Star Imaging Path Lab Limited was conceptualized as the high-tech wing of Janta X-Ray Clinic, which was established in 1978. Star Imaging Path Lab Limited is the ONLY diagnostic brand in the private sector across Delhi and NCR with over three decades of expertise in the healthcare domain. The brand’s unique selling propositions are its comprehensive services—offering Radiology, Pathology, Cardiology, and Neurology all under one roof—and its ability to cater to all three segments of the healthcare value chain: Panels, Referrals, and Preventive care. 

The company is led by Promoters, MR. PAWAN GUPTA who has experience of 21 years in financial strategy and market analysis has fueled growth and sustainability through data-driven decisions and strategic partnerships’ and MS. CHHAYA GUPTA has experience of 7.5 years in Human Resource and operational activities of the Company.

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 8,378.74 Lakh, ₹ 7,997.42 Lakh and ₹ 5,868.18 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 2,888.88 Lakh, ₹ 2,364.67 Lakh and ₹ 597.07 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 1,595.54 Lakh, ₹ 1,245.38 Lakh and ₹ 58.29 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 11.8 and post-issue EPS of ₹ 9.16 for FY24. The pre-issue P/E ratio is 12.03x, while the post-issue P/E ratio is 15.50x. The company's ROCE for FY24 is 29.92%, ROE for FY24 is 41.00% and RoNW is 40.65%. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) of Star Imaging and Path Lab showing listing gains of 12.67 %.Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Star Imaging and Path Lab Limited IPO for Listing gain.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms