Author: Nishtha Mehrotra | EQMint

 

Shares of Lords Mark Industries hit the 5% upper circuit on Monday, trading at ₹93.45, up ₹4.45 on the day, according to live market data at 10:33 a.m. IST.

 

The sharp move comes as investors track the company’s expanding MedTech and healthcare portfolio, which spans in-vitro diagnostics (IVD), dialysis technology and specialised diagnostic solutions.

 

Lords Mark Targets ₹825 Crore Healthcare Revenue in FY27

During its September investor call, management outlined a target of approximately ₹825 crore in FY27 revenue from its combined IVD, MedTech and dialysis businesses.

 

The figure represents management guidance rather than realised revenue. However, it highlights the growing importance of healthcare within Lords Mark’s broader business strategy.

 

At the group level, Lords Mark reported consolidated revenue of ₹307.68 crore and PAT of ₹33.18 crore for the quarter ended June 2026. These are consolidated figures and do not separately represent the performance of the MedTech vertical.

 

Diagnostics Business: Focus on Recurring Consumables

A key part of the company’s MedTech strategy is its combination of diagnostic equipment and recurring consumables.

 

Management has highlighted its installed analyser base, where instruments placed with customers can generate continuing demand for the company’s biochemistry products.

This creates a business model that can potentially generate recurring revenue beyond the initial sale of diagnostic equipment, provided the company continues expanding its installed base and retaining customers.

 

Renalyx Drives Dialysis Expansion

Renalyx is another major component of Lords Mark’s healthcare strategy. The company has positioned its AI-enabled dialysis technology as part of a broader expansion into renal care.

 

During the September investor call, management said confirmed orders had crossed 500 dialysis machines and outlined a target of operating 50 dialysis centres by March 2027.

The combination of machine orders and planned dialysis centres provides investors with specific operational milestones to monitor as the company executes its expansion plans.

 

IIT Bombay-Licensed Sickle-Cell Diagnostic Technology

Lords Mark’s healthcare portfolio also includes a specialised sickle-cell diagnostic platform developed with technology from IIT Bombay.

 

IIT Bombay has stated that technology developed by Professor Debjani Paul and her team has been exclusively licensed to Lords Mark for field testing and commercialisation.

The microscopy-based point-of-care technology is designed to distinguish between healthy blood samples, sickle-cell trait and sickle-cell anaemia.

 

 

Successful field testing and subsequent commercialisation could add another specialised diagnostic product to Lords Mark’s healthcare portfolio.

 

Three Key MedTech Growth Engines

Lords Mark’s healthcare strategy currently spans three broad areas:

 

 

• • IVD and diagnostics: Expanding the installed base of diagnostic equipment while generating recurring consumables demand.

• • Dialysis and Renalyx: Combining dialysis technology with plans to expand into dialysis-centre operations.

• • Specialised diagnostics: Developing and commercialising licensed technology such as the sickle-cell diagnostic platform.

The performance of these segments will depend on the company’s ability to convert orders and technology initiatives into commercial revenue and sustainable earnings.

 

Key Milestones Investors Will Track

While the company’s healthcare ambitions are significant, execution remains an important factor.

 

Investors will be watching the conversion of the reported dialysis-machine orders into actual installations, progress toward the 50-centre target by March 2027, and developments surrounding the field testing and commercialisation of the sickle-cell technology.

 

Greater segment-level financial disclosure could also provide clearer visibility into the standalone contribution of the MedTech business.

 

Ultimately, the ₹825 crore FY27 healthcare revenue target remains a management projection, and its achievement will depend on execution across diagnostics, dialysis and specialised healthcare technologies.

 

Sources: Lords Mark Industries investor communications; IIT Bombay; company disclosures; market data.

 

Disclaimer: This article is for information purposes only and is not investment advice.

 

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