We are well placed to address unmet demand in a large and growing molecular diagnostic market with gaining credence of point-of-care testing.
Innovative, R&D focussed business.
We have developed and commercialized a novel portable multi-disease point-of-care molecular diagnostics platform.
We have a scalable business model with strong entry barriers, high proportion of recurring revenues and a growing suite of tests.
Our strategic collaborations and acquisitions enhance our capabilities and offerings.
We have a management team with deep domain expertise and track record of delivering strong financial performance.
We derive a portion of our revenues from the sale of our products to the Indian central and state governments, and international aid agencies for their public healthcare programs. Our revenue from such government and international aid agencies was 84.56%, 87.83% and 91.60% of our revenue from contracts with customers - sale of products - finished goods in Fiscals 2026, 2025 and 2024, respectively. Any unfavourable policy changes by these agencies or a decrease in funding for public healthcare programs may impact the sale of our products and adversely affect our business, financial condition, results of operations and cash flows. Further, our revenue from the top 10 customers was 83.26%, 83.62% and 78.54% of our revenue from contracts with customers - sale of products - finished goods in Fiscals 2026, 2025 and 2024, respectively. The loss of any of these customers or a decline in demand for our products from them could also have an adverse effect on our business, financial condition, results of operations and cash flows.
We derive a portion of our revenues from the sale of diagnostic test kits for tuberculosis ("TB"). Our revenue from the sale of test kits for TB was 70.20%, 69.11% and 62.40% of our revenue from contracts with customers - sale of products - finished goods in the Fiscals 2026, 2025 and 2024, respectively. Any decline in the demand for such test kits may have an adverse effect on our business, financial condition, results of operation and cash flows.
We have invested and intend to continue to invest in research and development ("R&D") efforts to grow our menu of tests. We cannot assure you that our R&D efforts will result in the successful development and obtaining of government approvals for new tests, which could adversely affect our business, results of operations, and cash flows.
Our Subsidiaries, Prognosys Medical Systems Private Limited, Prognosys Healthcare (India) Private Limited and OptraScan INC, have incurred losses in the past and may incur losses in the future which could have an adverse effect on our business, financial condition, results of operations and cash flows. Further, our Company (on a consolidated basis) and some of our Subsidiaries have experienced negative cash flows from operating activities in the past. Any such negative cash flows in the future could affect our business, results of operations, financial condition and cash flows.
Our Promoters (certain of whom are also Directors) hold Equity Shares in our Company and may be interested in our Company's performance in addition to any remuneration and reimbursement of expenses payable to them.
If we are unable to patent new processes and protect our proprietary information or other intellectual property, our business may be adversely affected.
Our Statutory Auditors' audit reports on our audited consolidated financial statements for Fiscals 2026, 2025 and 2024 includes emphasis of matter paragraph, modifications for certain matters specified in the report on other legal and regulatory requirements and certain qualifications under the reporting requirements under the Companies (Auditor's Report) Order, 2020 and Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (as amended). We cannot assure you that auditors' reports for any future fiscal periods will not contain such emphasis of matter, modifications, qualifications and observations.
We intend to utilize a portion of the Net Proceeds for funding our capital expenditure requirements towards (i) the setting up of infrastructure for a research and development facility and Center of Excellence which will be operated by our wholly-owned Subsidiary, Bigtec, and connected office space for our Company, Subsidiaries and Associate, and (ii) purchase of certain plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit. Our inability to successfully undertake such capital expenditure within the estimated cost could have a material adverse effect on our business, cash flows, operations, prospects or financial results.
Any product liability claims or regulatory actions or imposition of liquidated damages on account of our failure to meet the contractual obligations, could have an adverse effect on our business, results of operations, financial condition and cash flows.
There have been certain instances of delays in payment of statutory dues by us in the past. Any delay in payment of statutory dues by us in future, may result in the imposition of penalties and in turn may have an adverse effect on our business, financial condition, results of operation and cash flows.
