Sterling Accuris Diagnostics Revenue Growth Slows to 16%
Sterling Accuris Diagnostics has reported a revenue growth of 16% year-on-year for the fiscal year ending March 2026, showing a deceleration compared to FY25. The firm, based in Ahmedabad, also experienced a 38% increase in losses during this period.
According to consolidated financial statements filed with the Registrar of Companies (RoC), Sterling Accuris’ operational revenue grew to Rs 230.7 crore in FY26, up from Rs 198.3 crore in FY25. Established in 2014, Sterling Accuris Diagnostics provides a diverse array of diagnostic and pathology testing services throughout India. The company offers over 2,000 tests via a network exceeding 250 laboratories and collection centres across more than 50 cities. The record indicates that the firm has conducted over 10 million tests to date, with testing services being its exclusive revenue source.
The company added Rs 2.9 crore from non-operating sources, raising its total income to Rs 233.6 crore in FY26 from Rs 201.8 crore in FY25. Employee benefits represented the largest expense for Sterling Accuris, amounting to Rs 59 crore, which reflected a 14% rise compared to the previous year. Materials needed for testing and diagnostics saw an increase of 16%, reaching Rs 52.2 crore, while fees allocated to doctors and pathologists totalled Rs 42.8 crore.
Depreciation and amortisation costs were reported at Rs 20.66 crore, and advertising and promotional expenditure surged by 84% to reach Rs 10.5 crore. Overall, Sterling Accuris experienced a 17.5% growth in total expenses, which climbed to Rs 259.5 crore in FY26, up from Rs 220.9 crore in FY25.
With expenses outpacing revenue, the profitability of Sterling Accuris Diagnostics faced challenges in FY26. The company’s net loss expanded by 38% to Rs 32 crore in FY26, compared to Rs 23.2 crore in FY25. Nonetheless, it remained EBITDA positive at Rs 2.8 crore during FY26, with an EBITDA margin of 1.2%. The return on capital employed (ROCE) was recorded at -7.9% for the year.
On a unit basis, Sterling Accuris had a spending of Rs 1.12 to generate one rupee of operating revenue in FY26. By March 2026, the company held current assets worth Rs 57 crore, which included Rs 23 crore in cash and bank reserves.
In the competitive landscape, Sterling Accuris faces rivalry from various players, such as Y Combinator-backed Orange Health, which attained Rs 139 crore in revenue in FY26. PharmEasy’s Thyrocare reported Rs 829 crore in revenue alongside Rs 163 crore in profit during the same fiscal period. Meanwhile, Redcliffe Labs recorded Rs 419 crore in revenue in FY25, and Healthians reached Rs 263 crore while narrowing its loss to Rs 5 crore. The FY26 financial reports for Redcliffe Labs and Healthians are still pending submission.
To date, Sterling Accuris has secured a total of $33 million in funding, with Morgan Stanley being the principal investor, holding a 35.64% stake, and Udhay Vi Realty owning 17%.