India contributes 97% of its total revenue, and the company is targeting atleast 10% revenue from international markets by entering markets like Africa, besides having the largest network in existing markets like Srilanka, Nepal, and long-term presence in Dubai
SRL Diagnostics has set up an ambitious target to expand its presence in the Indian market, its largest in terms of revenue and growth amongst its existing presence in the international markets like Srilanka, Nepal, and Dubai. The company has set aside a budget of 100 crore to set up 100 labs across India by 2016-end.
The expansion plans include setting up more labs in addition to the 12 reference labs, four centres of excellence and close to 300 network laboratories with a footprint spanning over 6,400 collection points, the company currently holds in India. The company is also planning to create lab capacity in Africa, in countries such as Nigeria and Congo, to increase their revenue share to atleast 10% from international markets. At present, India holds the maximum revenue share of 97% for SRL Diagnostics.
For setting up our labs “we usually rent the properties on a long-term lease and follow an asset light model,” SRL Diagnostics Managing Director Sanjeev K Chaudhry told PTI.
On being asked the business model the company plans to follow for future growth internationally, Chaudhry said: “We are going to expand lab capacity in Africa by following an asset light model.”
Apart from lab presence overseas, SRL also has about 50 collection centres outside India.
When asked about the timeline for the company’s IPO, Chaudhry said: “We are IPO-ready since 2011 and can take a call anytime.”
At present, SRL Diagnostics offers over 3,500 types of tests and conducts more than 107,000 tests in a day, ranging from simple to high-end ones.