Chandan Healthcare Limited, established on September 03, 2003, specializes in operating state-of-the-art laboratories that offer comprehensive pathological investigations. The Company commenced business by starting its first diagnostic centre in Indra Nagar, Lucknow in 2003. Over two decades of operations, the company has evolved into a comprehensive healthcare service provider with a strong presence across Northern India.
Chandan Group stands as a pillar of excellence in the healthcare sector, offering a diverse portfolio of services, including Diagnostics, Pharmacies, Hospitals, Pharmaceuticals, and Medical Education. Since its inception in 1991, Chandan has earned the trust of over 30 million patients, serving more than 3 million annually. Driven by a commitment to quality, innovation, and integrity, the group continues to expand its reach and enhance healthcare accessibility across India.
The company operates as a multi-faceted healthcare organization with 3,000+ dedicated workforce, making it one of the prominent healthcare service providers in the region.
Chandan Healthcare has established itself as a significant player in the North Indian diagnostic services market. The company's integrated approach, combining diagnostics, pharmacies, hospitals, and medical education under one umbrella, provides it with a competitive advantage in delivering comprehensive healthcare solutions. It offers comprehensive diagnostic services, including Radiology, Pathology, Cardiology, Respiratory, Gastroenterology, Oncology, Nephrology, and Neurology, all under one roof.
The company's commitment to quality and innovation is reflected in its commitment to accuracy and reliability, supporting healthcare professionals and patients by delivering essential diagnostic services. With its expanding network and diversified healthcare portfolio, Chandan Healthcare continues to strengthen its position as a leading healthcare service provider in Northern India.
As of July 10, 2025, the market capitalization of Chandan Healthcare Ltd stood at ₹523.27 Cr. The company has demonstrated consistent financial growth over the years. For the year ended 2024, Chandan Healthcare Ltd posted a profit of ₹16.36 crore on a total income of ₹176.59 crore.
- Market Capitalization: ₹523.27 Cr (as of July 2025)
- Promoter Holding: 49.43% (as of Mar 2025)
- Recent Financial Highlights:
- Revenue: ₹230 Cr
- Profit: ₹23.5 Cr
- Q1 FY26 revenue up 25.74%
- Key Financial Ratios (as of July 2025):
- PE Ratio: 23.35
- PB Ratio: 0.24
- ROCE: 28.1%
- ROE: 27.1%
- 52-Week Range: Low ₹140, High ₹224.6
Chandan Healthcare operates an extensive diagnostic network across North India, offering comprehensive pathology and radiology testing services. Their services encompass biochemistry, hematology, histopathology, microbiology, and immunology. Additionally, they provide an extensive array of radiology services, including CT scans, X-rays, and MRIs.
The company's diagnostic capabilities are extensive, providing nearly 1118 tests across different specialties. The test menu includes 169 routine pathology tests (basic biochemistry and hematology), 713 specialized pathology tests (immohistopathology, molecular pathology), and 236 radiology tests (basic x-rays, ultrasonography (USG), computed tomography (CT), magnetic resonance imaging (MRI), and specialized CT scans). The radiology infrastructure includes 11 CT scanners and 4 MRI machines.
As of December 31, 2024, the company operates one flagship laboratory, seven central laboratories, and twenty-six satellite centres, with over three hundred collection centres in more than 23 cities across Uttar Pradesh and over 19 in Uttarakhand. The company has expanded its reach to multiple states, including 50+ diagnostic centers and 500 collection centers across Uttar Pradesh, Uttarakhand, Rajasthan, Delhi, Madhya Pradesh, Bihar, and Jharkhand.
Beyond diagnostic services, Chandan Healthcare has established a chain of Retail Pharmacies in Uttar Pradesh, Uttarakhand, and Delhi, along with wholesale distribution to its retail outlets and hospitals. The company also operates Chandan Hospital Limited, a 300-bed tertiary care Multi-Super-specialty Hospital that has quickly gained recognition as one of the leading hospitals in the region since its opening in October 2018.
Chandan Healthcare's IPO was a SME IPO comprising 6,752,000 equity shares of face value ₹10, aggregating up to ₹107.36 Crores. The issue was priced at ₹159 per share. The IPO opened on February 10, 2025, and closed on February 12, 2025. The shares were listed on NSE SME on February 17, 2025.
The IPO consisted of a fresh issue of 4,452,000 shares aggregating to ₹70.79 crores and an offer for sale of 2,300,000 shares aggregating to ₹36.57 crores. Chandan Healthcare's IPO was subscribed 6.62 times.
The company has outlined ambitious expansion plans utilizing IPO proceeds. The company proposes to utilize the Net Proceeds from the Offer towards the following:
- Setting up a new Flagship Diagnostic Centre in Jankipuram, Lucknow, Uttar Pradesh.
- Setting up a new Central Reference laboratory at Ayodhya, Uttar Pradesh.
- Setting up a new Central Reference laboratory at Ashiyana, Lucknow, Uttar Pradesh.
Recent developments include the Launch of Chandan Medical Centres offering affordable healthcare in Tier II/III cities across multiple states. The company has also made strategic acquisitions, including acquiring X Life Diagnostics, Patna.
The Company's Promoters are Amaranita Holdings (India) Private Limited, Amar Singh, Asmita Singh, Alok Singh, Shaleen Solanki, Vijay Singh, and Vinay Lamba. Promoter holding in Chandan Healthcare Ltd has decreased to 49.43% as of March 2025 from 69.93% as of February 2025.
