3B Blackbio DX Ltd (3BBLACKBIO)
🎯 Key Takeaways
- 3B BlackBio DX Ltd is in a growth phase driven by strategic expansion in diagnostics and international markets, supported by recent acquisitions and regulatory progress. The company is transitioning from a mature standalone entity to a scaled player with global ambitions, particularly in molecular diagnostics and antibiotic resistance testing.
- Revenue declined 5.5% QoQ to ₹33 in Q1FY27.
- ⚠️ 1) Revenue volatility due to reliance on international markets and project-based diagnostics sales, which may not sustain growth. 2) Margin compressio
- Market Cap
- ₹1,395
- P/E Ratio
- 24.8
- P/B Ratio
- 4.30
- ROE
- 17.1%
- ROCE
- 22.8%
- Debt/Equity
- 0.01
- Div Yield
- 0.31%
- Promoter
- 41.0%
📖 The Story
3B BlackBio DX Ltd is in a growth phase driven by strategic expansion in diagnostics and international markets, supported by recent acquisitions and regulatory progress. The company is transitioning from a mature standalone entity to a scaled player with global ambitions, particularly in molecular diagnostics and antibiotic resistance testing.
📰 What's Happening
In Q4 FY26, the company reported consolidated revenue of INR142 crores and PAT of INR60 crores, with management targeting 15-20% revenue growth for FY27. Key developments include expansion in diagnostics, regulatory progress, and a US FDA submission for AMR products. Depreciation rose due to R&D amortization from the Coris acquisition, and export revenue reached INR21.4 crores. Management expects Coris to become EBITDA positive in FY27 with 5-10% margins by FY28.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 22 | 34 | 50 | 35 | 33 |
| Operating Profit | 12 | 14 | 21 | 5 | 7 |
| OPM % | 52.0% | 41.7% | 42.4% | 13.0% | 21.4% |
| Net Profit | 13 | 15 | 22 | 10 | 9 |
| EPS | ₹14.76 | ₹17.55 | ₹26.19 | ₹11.44 | ₹10.48 |
Revenue peaked at INR50 crores in Dec 2025 but declined to INR33 crores by June 2026, reflecting seasonality and potential timing of acquisitions or project completions. However, PAT stabilized around INR9-10 crores in the last two quarters despite lower revenue, indicating improved operational efficiency. The sharp drop in OPM from 42.4% in Dec 2025 to 13% in March 2026 suggests margin pressure from integration costs or higher R&D spend, consistent with management's commentary on depreciation and amortization impacts.
🔮 Management Outlook & What's Next
Management has provided forward guidance of 15-20% revenue growth for FY27, citing expansion in diagnostics, regulatory progress, and the US FDA submission for AMR products. They also expect Coris to achieve EBITDA positivity in FY27 with improving margins to 5-10% by FY28, underscoring confidence in long-term profitability from recent acquisitions.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 |
| Reserves | 260 | 238 | 316 | 290 |
| Borrowings | 0 | 1 | 3 | 0 |
| Total Liabilities | 296 | 269 | 378 | 341 |
| Fixed Assets | 7 | 7 | 28 | 17 |
| Investments | 156 | 133 | 158 | 160 |
| Total Assets | 296 | 269 | 378 | 341 |
The balance sheet shows a strong equity base of INR9 crores with growing reserves (INR316 crores as of Mar 2026) and no borrowings, indicating a conservative capital structure. Total assets have grown steadily from INR296 crores to INR378 crores, reflecting asset accumulation likely from acquisitions like Coris BioConcept, supporting expansion without leverage.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +43 |
| Investing | -34 |
| Financing | -3 |
| Net Cash Flow | +6 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 41.3% | 41.3% | 40.9% | 41.0% |
| FII | 2.6% | 2.6% | 2.6% | 2.5% |
| DII | 1.8% | 1.9% | 2.0% | 2.1% |
| Public | 43.5% | 38.1% | 37.7% | 37.0% |
| # Shareholders | 10,709 | 10,507 | 10,616 | 11,049 |
Promoter holding has remained stable around 40.9%, while FII and DII ownership is minimal (2.5-2.6% and 1.8-2.0% respectively). Public shareholding has slightly declined, but the number of shareholders has increased, suggesting retail diversification. No significant institutional accumulation or exit signals are evident in recent quarters.
⚖️ Peer Comparison — Healthcare
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| APOLLOHOSP | 1.25 L Cr | 59.9 | 22.1% | — | 0.60 |
| MANIPALHOS | 98,509 | — | — | — | 1.25 |
| MAXHEALTH | 95,762 | 65.6 | 14.4% | — | 0.27 |
| ASTERDM | 64,094 | 119.0 | 12.9% | — | 0.17 |
| FORTIS | 61,831 | 59.0 | 13.3% | — | 0.29 |
| MEDANTA | 38,059 | 68.4 | 21.9% | — | 0.10 |
| NH | 36,850 | 44.9 | 13.7% | — | 1.07 |
| LALPATHLAB | 32,792 | 47.2 | 29.6% | — | 0.00 |
| KIMS | 32,345 | 151.0 | 9.7% | — | 1.44 |
| POLYMED | 16,633 | 52.8 | 15.1% | — | 0.06 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Revenue volatility due to reliance on international markets and project-based diagnostics sales, which may not sustain growth. 2) Margin compression from integration costs of the Coris acquisition, including R&D amortization and depreciation, which could pressure profitability in the near term. 3) Execution risk around regulatory approvals, particularly the US FDA submission for AMR products, which is critical for future growth but subject to delays.
📋 Recent Filings
- 🟡 Board Meeting2026-09-29The 54th AGM of 3B BlackBio DX Ltd was held on 29 September 2026 via video conference, where shareholders approved the adoption of audited standalone …
- Announcement2026-09-253B BlackBio DX Ltd announced the closure of its insider trading window effective October 1, 2026, covering all directors and designated persons until …
- 🔴 Financial Results2026-09-163B BlackBio Dx Ltd held a one-to-one investor meeting with Marcellus Investment Managers on September 16, 2026, discussing previously disclosed Q1-FY2…
- 🔴 Announcement2026-09-113B BlackBio DX Ltd announced a scheduled analyst and institutional investor meeting on September 16, 2026 at 11:00 hrs India time with Marcellus Inves…
- 🔴 Financial Results2026-09-113B BlackBio Dx Ltd held a one-to-one investor meeting with Capri Global Holdings on September 11, 2026, discussing previously disclosed Q1-FY27 result…
- 🟡 Board Meeting2026-09-07The 54th Annual General Meeting of 3B BlackBio DX Ltd will be held on 29 September 2026 at 11:30 AM IST via video conferencing. The meeting will adopt…
- 🔴 annual report2026-09-073B Blackbio DX Ltd reported FY 2025-26 revenue of **₹14,191.81 crores** with [amount not verified]thousand net profit** and **[amount context mismatch…
- 🟡 Board Meeting2026-09-07The company announced its 54th Annual General Meeting on 29 September 2026 at 11:30 AM IST via video conference, with record date on 22 September 2026…
- 🔴 Corporate Action2026-09-07The company announced its 54th AGM on September 29, 2026, with a record date of September 22, 2026 for dividend eligibility. Shareholders on the recor…
- 🟡 Board Meeting2026-09-073B BlackBio DX Ltd announced its 54th Annual General Meeting will be held on 29 September 2026 at 11:30 AM IST via video conference. The record date f…
🧠 Analyst's Read
The company is executing a clear expansion strategy with strong international momentum and regulatory milestones, but near-term margin pressures and revenue fluctuations pose near-term headwinds. Investors should monitor execution of the FY27 growth targets and progress toward Coris EBITDA positivity as key near-term inflection points.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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