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Can Molbio Diagnostics IPO deliver long-term growth for high risk investors?

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Can Molbio Diagnostics IPO deliver long-term growth for high risk investors?
ET Intelligence Group: Molbio Diagnostics, a molecular diagnostics manufacturer, plans to raise ₹200 crore through a fresh issue for capital expenditure. It will also raise ₹740 crore through an offer for sale. The promoter group’s stake will fall to 43% after the IPO from 46.6%. The company operates six manufacturing facilities across India and serves customers in over 90 countries, including government health programmes, diagnostic laboratories, hospitals, and international healthcare organisations. Its top clients contribute over half of the revenue, signalling customer concentration. Given these factors, investors with high-risk appetite may consider the IPO for long-term.
Unique Tech, Robust Growth Make Molbio Worth a ScreeningAgencies

Long-term Bet Its Truenat platform and rising global reach offer room for sustained growth

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Incorporated in 2000, Molbio is engaged in research, development and manufacturing of diagnostic solutions for infectious and non-communicable diseases. Government and international aid agencies account for over four-fifth of its revenue.

It has developed ‘Truenat’ platform, a portable diagnostics system designed for resource-limited settings, offering accurate test results within an hour. It offers molecular testing solutions for over 30 diseases through 43 diagnostic assays and provides radiology, digital pathology, and breast health screening solutions through its subsidiaries and strategic collaborations.

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Nearly 74% of the revenue comes from sale of test kits, out of which 70% comes from diagnostic test kits for Tuberculosis.
Read more: Molbio Diagnostics collects Rs 281 cr from anchor investors ahead of IPO
Financials
Revenue from operations rose 31.5% annually to ₹1,445.7 crore and net profit grew 40.2% annually to ₹164.1 crore between FY24 and FY26. Operating profit before interest, tax, depreciation and amortisation (Ebitda) rose 33.2% to ₹328.2 crore during the period. Ebitda margin grew to 22.6% in FY26 from 22% in FY24. In FY26, on a year-on-year basis, revenue jumped 41.7%, Ebitda rose 27.9% while net profit grew 18.4%.

Valuation

Considering the post-IPO equity and net profit for FY26, the company demands a price-earnings (P/E) multiple of upto 57. While it has no directly comparable listed peer in India, other healthcare diagnostics and medical device companies, including Poly Medicure, Dr. Lal PathLabs, Metropolis Healthcare, and Vijaya Diagnostic Centre, trade at P/E multiples between 54 and 81.

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‘Outstanding’ year for Manchester’s creative and digital firms as MPA Inspiration Awards 2026 shortlist is revealed

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Awards will honour big names and future talent

The winners of the MPA Inspiration Awards 2025

Last year’s winners of the MPA Inspiration Awards(Image: Carl Sukonik | The Vain Photography)

The judges of the MPA Inspiration Awards have announced their 2026 shortlist – and say Manchester’s creative and digital sector has enjoyed another “outstanding” year.

The awards, now in their 14th year, aim to celebrate the best work done by Manchester’s media, digital and creative agencies and their teams. They also aim to support young and upcoming talent in the media, creative and digital worlds.

Nominees this year include EssenceMediacom, McCann Manchester, Wavemaker and Transport for Greater Manchester.

The awards are run by the MPA, the not-for-profit association originally known as the Manchester Publicity Association, and will be held at the Midland Hotel in Manchester in October.

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The judging panel this year was chaired by Jade Prady, business growth lead for City Studios at City Football Group.

She said: “It’s been a privilege to be chair of judges this year and to see the outstanding work being produced across both agencies and new emerging talent coming through into the media landscape.

“We’ve had another fantastic year of entries, setting an exceptionally high standard, with inspiring and innovative work across all categories.

“The judging room was filled with energy and passion, and while some decisions were challenging, I’m confident and proud of the winners we’ve chosen collectively.”

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Cindy Simmons, managing director of the MPA, added, “I was very proud to see that the community we represent has once again embraced our awards and has pushed the boundaries in terms of quality and content.

“In particular our ‘People’ categories, recognising young future talent, were extremely well supported again this year; This reflects how embracing and helping to nurture future talent is an intrinsic part of the MPA and fits with our mantra of helping anyone working in or with Manchester’s Media, Digital and Creative businesses to thrive.

“The ‘Collaboration’ category was also well represented which stands as testimony to the open and collaborative nature of the MPA and its members.”

MPA Inspiration Awards 2026: The shortlist

Best Digital Campaign

  • Mobsta, Wavemaker and Triple Dry: Driving Sales of Deodorant? No Sweat
  • Mobsta, Republic of Media, and TfGM: TfGM – Have You Got Your Ticket?
  • EssenceMediacom, a WPP Media Brand: Recipe for Absolute Collagen’s AI Win
  • McCann Manchester: Importance Of Flipping Industry Norms
  • Crimtan, Fusion Unlimited & University of Leeds: UoL Applications: Powered by Data
  • EssenceMediacom, a WPP Media Brand: Making 180 Stores Feel Truly Local
  • Edison Media: Sandcastle Waterpark: A Record Year
  • PHD Manchester & Grupo Bimbo (Takis): Can’t Hide Your Intensity
  • Wavemaker, a WPP Media Brand: We’re Going Places
  • Wavemaker, a WPP Media Brand: When the House Is Invisible, Change Odds
  • Carat, Greggs, Blis: From Insight to Impact: Greggs Xmas Wins

Best Creative Campaign

  • EssenceMediacom, a WPP Media Brand: From Fine Lines To Laughter Lines
  • EssenceMediacom, a WPP Media Brand: Understanding Greatness Needs No Service
  • Seventy7: Making Proper Good Things Happen
  • Dentsu & News UK: Newsstands to Catwalks: Next A/W

Best Media Campaign

  • Leasing Options & Reigning Media: From Sceptic to Sky Sports Sponsor
  • The Guardian: From Play to Purpose with Co-op & Carat
  • Notorious Communications: Butchers x Chanel 5’s Country Living
  • Mail Metro Media, Carat, VisitScotland: Good for the Soul
  • McCann Manchester: Importance Of Flipping Industry Norms
  • Republic of Media: A ‘Powerfully Simple’ Venture into TV
  • EssenceMediacom, a WPP Media Brand: From Media Interruptions to Healthcare
  • EssenceMediacom, a WPP Media Brand: Turning Tyres Into a Performance Story
  • EssenceMediacom, a WPP Media Brand: How an Unofficial Sponsor Beat 50:1
  • EssenceMediacom, a WPP Media Brand: Tetley Chose Rituals Over Reach
  • TBWA\MCR: Dodge The Finger
  • Edison Media: We Run This City with JD Sports x Nike
  • Wavemaker, a WPP Media brand: Out of Your Head and Into Your Home
  • News UK: No Parental Guidance
  • PHD Manchester & Grupo Bimbo (Takis): Can’t Hide Your Intensity
  • Wavemaker, a WPP Media Brand: Nothing Beats Playing the Long Game
  • Carat, Co-op Funeralcare: “From Behind to Front of Mind”

Best Sales Team Campaign

  • Mobsta, Wavemaker, and Triple Dry: Driving Sales of Deodorant? No Sweat
  • Channel 4 Sales & Wavemaker for Wayfair: Filtered Interiors
  • Mail Metro Media, Carat, VisitScotland: Good for the Soul
  • Immediate, Crown Paints & Notorious Communications: Colour your Senses

Best Integrated Campaign

  • Channel 4 Sales & Carat for VisitScotland: Where to Next?
  • McCann Manchester: Schär: Better Media for Better Health
  • EssenceMediacom, a WPP Media Brand: From Media Interruptions to Healthcare
  • Wavemaker, a WPP Media brand: Clarkson’s Farm, Sponsored by Morrisons
  • Wavemaker, a WPP Media brand: Dr Oetker’s Book Club Hit the Aisle
  • Edison Media: We Run This City with JD Sports x Nike
  • Wavemaker, a WPP Media brand: Reigniting Passion for Teaching
  • Mail Metro Media, Havas, Matalan: Your Tribe
  • News UK & Specsavers: Grab a Grant – Specsavers x The Sun
  • Wavemaker, a WPP Media Brand: Original Source x HYROX
  • Carat, Nerds, Global: ‘Make it a NERDS Summer’
  • WPP Media: Search It & Weep

Best PR/Social Campaign

  • Smoking Gun: Fry & Mighty
  • Channel 4 Sales, Vega & Propaganda for Cloud 9: GRWM: Roots & Resilience
  • EssenceMediacom, a WPP Media Brand: From Fine Lines to Laughter Lines
  • Wavemaker, a WPP Media brand: From Hardship to Hope
  • Mail Metro Media, Havas, Matalan: Your Tribe

Specialist Categories

Best Animation

  • Flow Creative: Releasing Hope
  • TBWA\MCR: Dodge The Finger

Best Video

  • TBWA\MCR: That Time Of The Month
  • Edison Media: This Is Blackpool: The Two Day Stay

Best Podcast

  • Roland Dransfield: We Built This City
  • JCDecaux UK: Digital Changemakers

Best Audio

  • TBWA\MCR: Gardaland 50th Anniversary
  • EssenceMediacom, a WPP Media Brand: Making Results Day Sound Different
  • Wavemaker, a WPP Media brand: From Missed Flights to Must-Book Nights

Unique Categories

Big Bang Award

  • Reigning Media x Bruntwood: Turning David into Goliath
  • Nano Interactive x Republic of Media for ScotRail: The Scenic Route to CTR
  • Hoopla Digital & Dentsu: Galderma Acnecide
  • TBWA\MCR: That Time Of The Month
  • TBWA\MCR: Dodge The Finger

Collaboration Award

  • Whistl, HH Global, Co-op: Co-operative Christmas Growth
  • Peachy and Screen Manchester: Peachy and Screen Manchester Outreach
  • Immediate Media North and Wavemaker North: Dr Oetker Ristorante Book Club
  • Wavemaker, a WPP Media brand: Making Wayfair Feel Like Home
  • Cash for Kids: Bringing Back the Magic of Christmas
  • Wavemaker, a WPP Media Brand: TRU x Reach – On Track to Better

Martyn Hett Inspiring Manchester Award

  • Ocean Outdoor: The Corinthians: We Were The Champions
  • Roland Dransfield: We Built This City

Innovation Award

  • PHD Manchester: Establish MCR as a Gaming Powerhouse
  • WPP Media: OMA PagePal Beats Google’s Crackdown

People categories

Apprentice Award

  • Olivia Darbyshire: One Agency Media
  • Aarti Schwob: Wavemaker, a WPP Media brand
  • Mia Cunningham: Republic of Media

Rising Star Award

  • Joshua Dagger: Bauer Media Outdoor
  • Grace Noakes: One Agency Media
  • Luis Rogers: Republic of Media

University Student Award

  • Amy Louise Mead: Manchester Metropolitan University
  • Nikola Gonczar: Manchester Metropolitan University
  • Shannon Fahey: Manchester Metropolitan University
  • Queenie Quayson: Manchester Metropolitan University

Freelance Hero Award

  • Jude Hodges
  • Oliver Hardingham
  • Roxanne Parker
  • Natalie Meziani

Agency of the Year

  • I-COM
  • Wavemaker, a WPP Media brand
  • Edison Media
  • Republic of Media
  • Roland Dransfield

Media Sales Team of the Year

  • Mobsta
  • Transport for Greater Manchester
  • JCDecaux UK
  • News UK
  • Channel 4

Grand Prix Categories

Best Place to Work

  • JCDecaux UK
  • Bauer Media Outdoor

Best of the Best

  • To be announced on the night

Business of the Year

  • To be announced on the night

MPA Award

  • To be announced on the night
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S&P record high after jobs data eases rate worries

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Wall St dips as investors monitor Iran talks, earnings

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Major bank sees drop off in housing loans after budget

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Major bank sees drop off in housing loans after budget

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Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

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Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

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If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

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  • Consultants and professionals staying across sectors relevant to their clients
  • Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

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The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

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Centurion Properties hope fifth time's the charm for Karratha hotel build

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Centurion Properties hope fifth time's the charm for Karratha hotel build

A Singaporean investment trust’s rapid ascension in the Pilbara has led it to a hotel project in Karratha which has stumped four previous proponents.

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Treasury Wine shares soar as US supply overhaul eases inventory concerns

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Treasury Wine shares soar as US supply overhaul eases inventory concerns

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Dollar near two-month trough as US inflation data awaited

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Dollar near two-month trough as US inflation data awaited
The U.S. dollar hovered near a two-month low against major currencies on Monday as investors awaited this week’s inflation data for clues on the Federal Reserve’s rate path.

The euro ​edged higher to $1.1558, hovering near its strongest level since mid-June, while sterling was steady at $1.3490, near a five-week peak.

The yen held firm at 157.90 per dollar, having given back some intervention-driven gains but remaining well off the ‌roughly 164 multi-decade ⁠low hit ⁠late last month.

The dollar index, which tracks the currency against six major peers, was little changed at 99.6, hovering ​near its lowest level since June 2.

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Data on Friday showed the U.S. economy unexpectedly shed jobs in July ​and job gains for the prior two months were revised sharply lower, cooling expectations for a Fed rate hike next month.


U.S. Treasury yields fell as the jobs report dashed hike bets, with those on benchmark U.S. 10-year notes last at 4.637%. The futures ⁠market has ‌scaled back the chance of a September move to around 44%, from 67% a week ago.
“The weaker U.S. labor-market signal has pulled down real-rate expectations, extended the ⁠dollar decline… but not yet a clean easing story,” Geoff Yu, ​senior EMEA market strategist at BNY, wrote in a note, adding ​that perceptions around U.S. inflation data will likely be the biggest factor for currencies this week.A consensus estimate calls for the core CPI to rise 0.2% month-on-month in July, lifting the annual rate to 2.5% and extending a gradual moderation in inflation. The annual rate was 2.6% in June.

Producer price data on Thursday and retail sales figures on Friday will further inform the outlook for ‌inflation.

“Although there’s a lot of inflation dynamics, the Fed will for now stay on the sidelines and wait to see how things play out,” Rodrigo Catril, ​senior FX strategist ​at NAB, said in ⁠a podcast.

Oil prices rose on Monday, with Brent oil futures last up 1.4% at roughly $85 per barrel amid continued uncertainty over the reopening of the Strait of Hormuz. Iran said a deal with ​Oman defining new shipping lanes was in its final stages but it added that the U.S. must still meet other conditions.

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In Asia, the New Zealand dollar and Australian dollar each slipped 0.1% to $0.7062 and $0.5889 respectively.

Market participants await the Reserve Bank of Australia’s rate decision on Tuesday. The central bank is expected to hold its key rate at 4.35% for the rest of the year.

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Earnings call transcript: Globe Telecom posts record H1 2026 revenue, stock rises 0.99%

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Earnings call transcript: Globe Telecom posts record H1 2026 revenue, stock rises 0.99%

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BHP, unions target talks to break Port Hedland deadlock

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BHP, unions target talks to break Port Hedland deadlock

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
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Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

  • Unlimited access to WA’s most trusted business journalism
  • Data & Insights — detailed profiles of WA companies, people, projects and deals
  • MyBN — a personalised feed based on the companies, people and sectors you follow
  • Special publications and industry reports
  • Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

  • Look up detailed profiles of WA companies, including financials, directors and ownership
  • Find decision-makers and track their career movements
  • Research live and completed projects across WA industries
  • Monitor deals, appointments and market activity
  • Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

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MyBN
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Only subscribers have full access to all content on the Business News website.

Advertisement

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

  • Executives and directors tracking competitors, clients and market movements
  • Investors and advisers researching companies, deals and industry trends
  • Consultants and professionals staying across sectors relevant to their clients
  • Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

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The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

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Japan’s Recruit shares surge, hit daily limit on guidance hike

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Japan’s Recruit shares surge, hit daily limit on guidance hike

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Thailand Reiterates Backing for Myanmar’s Full Participation in ASEAN

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Managing Risks and Seizing Opportunities: ASEAN's Approach

Thailand and Myanmar reaffirmed cooperation for Myanmar’s ASEAN reintegration during Min Aung Hlaing’s controversial Bangkok visit. Thailand pursues “calibrated re-engagement,” rejecting legitimacy accusations while citing border realities. Agreements on labor, trade, environment were signed, though ASEAN remains divided over Myanmar’s 5PC implementation amid ongoing conflict.

Key Points

  • Thailand pledged continued support for Myanmar’s reintegration into ASEAN, hosting Min Aung Hlaing’s first visit as president; both signed deals on labor, trade, and environmental cooperation despite ongoing sanctions and conflict.
  • FM Sihasak defended engagement as pragmatic “calibrated re-engagement,” not legitimization, urging reduced hostilities while acknowledging no military solution exists to Myanmar’s civil war.
  • Analysts note Thailand prioritizes border stability over pressuring Myanmar to implement ASEAN’s Five-Point Consensus, revealing regional divisions on handling the junta.

Thailand’s Diplomatic Balancing Act

Thailand has reaffirmed its commitment to “supporting and continuing to work closely” with Myanmar for its full ASEAN reintegration, following Myanmar President Min Aung Hlaing’s controversial two-day visit—his first since stepping down as military chief. Foreign Minister Sihasak Phuangketkeow defended the visit, stating “it’s not about legitimacy, it’s about reality,” citing shared border challenges.

Thailand’s approach, termed “calibrated re-engagement,” proceeds independently of ASEAN consensus, though Sihasak emphasized that Myanmar’s return to ASEAN summits requires collective agreement, calling it “a two-way street.”

ASEAN’s Fractured Consensus on Myanmar

Since the 2021 coup, ASEAN has barred Myanmar’s leadership from summits, insisting on implementation of the Five-Point Consensus (5PC)—a peace plan Min Aung Hlaing claims lacks full endorsement. Five years later, divisions within ASEAN have deepened, with Thailand appearing to soften its stance while others maintain pressure.

Sihasak acknowledged “there is no military victory” in Myanmar’s conflict, urging reduced hostilities. However, analyst Wai Yan Phyo Naing suggested Thailand’s motivations center on mitigating spillover effects from Myanmar’s crisis rather than genuinely pressuring political reform, noting minimal pressure applied regarding 5PC implementation or domestic political improvements.

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Economic Cooperation Amid Ongoing Conflict

Despite Myanmar’s continued sanctions and internal strife, the two nations signed three agreements covering labor cooperation and environmental protection along shared rivers. At a business forum with 700 participants, PM Anutin Charnvirakul emphasized that economic disruption must be avoided regardless of political circumstances, prioritizing employment and stability for citizens.

Min Aung Hlaing, avoiding discussion of ongoing violence, promoted investment opportunities, describing Myanmar as “a peaceful country blessed with abundant natural resources.” This contrasts sharply with reality: his administration lacks full territorial control, with resistance forces holding significant regions. The World Bank recently downgraded Myanmar’s growth forecast to 2%, reflecting the conflict’s ongoing economic toll amid the humanitarian crisis that has claimed over 100,000 lives.

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