Chandan Healthcare Ltd - Stock Valuation and Financial Performance

Chandan Healthcare Limited was incorporated as a public limited Company under the name ‘Chandan Healthcare Limited’, under the provisions of the Companies Act, 1956 and Certificate of Incorporation was issued by the Registrar of Companies, U.P. & Uttaranchal, Kanpur on September 03, 2003.

The company run a diagnostic network in North India with pathology and radiology testing services. It has flagship laboratory, central laboratories, satellite centres, and collection centres. It provides a wide range of tests across different specialties. Its test menu includes (a) routine pathology tests, covering basic biochemistry and hematology, as well as specialized pathology tests, such as immohistopathology, and molecular pathology, and (b) radiology tests, including basic x-rays, ultrasonography (USG), computed tomography (CT), magnetic resonance imaging (MRI), and specialized CT scans. 

The company has adopted a clusters and collection points model i.e. grouping of nearby patients or laboratories or clinics into clusters and collecting samples at those designated points, then transporting them in bulk to a central laboratory for processing, this enhances its economies of scale, ensures greater consistency in testing procedures, and boosts its brand presence by reaching more customers in remote areas. Samples are collected from various locations within a cluster and transported to its laboratories for diagnostic testing. Each diagnostic centres provides integrated diagnostics services (pathology and radiology tests under one roof) with small and medium centres offering pathology tests and basic and intermediate radiology tests, and large centres offering pathology tests, basic and advanced radiology tests.

The company provides primarily provides diagnostic services; however, it also does ad hoc sale of its consumables like X-ray films, reagents for laboratory testing and other consumables necessary for healthcare operations to its group companies. Its subsidiary, Chandan Pharmacy, is engaged in the business of operating medical stores, offering a wide range of pharmaceutical products including medical consumables such as tablets, capsules, syrups, ointments, and a variety of dosage forms, including liquids, solids, and semisolids. It also provides essential items like injectables and inhalers to meet the diverse healthcare needs of its customers.

Business area of the company

Chandan Healthcare specializes in operating state-of-the-art laboratories that offer comprehensive pathological investigations. Its services encompass biochemistry, hematology, histopathology, microbiology, and immunology. Additionally, it provides an extensive array of radiology services, including CT scans, X-rays, and MRIs. 

Services of the company

• Routine pathology tests
• Specialized pathology tests
• Radiology tests
• Preventive and wellness services
• Home collection service

History and milestones

• 2003: Incorporation of the Company in the name style of ’Chandan Healthcare Limited.
• 2003: Started its first diagnostic centre in Indra Nagar Lucknow.
• 2013: Started its first diagnostic centre in Dehradun.
• 2023: Crossed turnover of Rs 75 crore.