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.
The company derives a portion of its revenues from the sale of the company's products to the Indian central and state governments, and international aid agencies for their public healthcare programs. The company's revenue from such government and international aid agencies was 84.56%, 87.83% and 91.60% of its 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 the company's products and adversely affect its business, financial condition, results of operations and cash flows. Further, the company's revenue from the top 10 customers was 83.26%, 83.62% and 78.54% of its 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 the company's products from them could also have an adverse effect on its business, financial condition, results of operations and cash flows.
The company derives a portion of its revenues from the sale of diagnostic test kits for tuberculosis ("TB"). Its revenue from the sale of test kits for TB was 70.20%, 69.11% and 62.40% of the company's 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 the company's business, financial condition, results of operation and cash flows.
The company has invested and intend to continue to invest in research and development ("R&D") efforts to grow its menu of tests. The company cannot assure you that its R&D efforts will result in the successful development and obtaining of government approvals for new tests, which could adversely affect its business, results of operations, and cash flows.
The company's 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 its business, financial condition, results of operations and cash flows. Further, the Company (on a consolidated basis) and some of its Subsidiaries have experienced negative cash flows from operating activities in the past. Any such negative cash flows in the future could affect the company's business, results of operations, financial condition and cash flows.
The company's Promoters (certain of whom are also Directors) hold Equity Shares in the Company and may be interested in the Company's performance in addition to any remuneration and reimbursement of expenses payable to them.
If the company is unable to patent new processes and protect its proprietary information or other intellectual property, the company's business may be adversely affected.
The company's Statutory Auditors' audit reports on its 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). Its cannot assure you that auditors' reports for any future fiscal periods will not contain such emphasis of matter, modifications, qualifications and observations.
The company intends to utilize a portion of the Net Proceeds for funding its 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 its wholly-owned Subsidiary, Bigtec, and connected office space for the Company, Subsidiaries and Associate, and (ii) purchase of certain plant, machinery and other equipment for Goa Unit I, Goa Unit II and Visakhapatnam Unit. Its inability to successfully undertake such capital expenditure within the estimated cost could have a material adverse effect on the company's business, cash flows, operations, prospects or financial results.
Any product liability claims or regulatory actions or imposition of liquidated damages on account of the company's failure to meet the contractual obligations, could have an adverse effect on its business, results of operations, financial condition and cash flows.
There have been certain instances of delays in payment of statutory dues by the company in the past. Any delay in payment of statutory dues by the company in future, may result in the imposition of penalties and in turn may have an adverse effect on its business, financial condition, results of operation and cash flows.
