Q-Line BiotechShare price, financial results, shareholding and management
- Market cap
- ₹1,194 cr
- Stock P/E
- 21.4peers 23.6
- Book value
- ₹106
- Price to book
- 4.85
- EV / operating profit
- 13.7
- Market cap to sales
- 3.49
- ROCE · FY26
- 22.2%
- ROE · FY26
- 25.5%
- ROE, 3-year average
- 21.6%
- Operating margin · FY26
- 28.7%peers 14.9%
- Sales growth, 3 years
- 23.1%
- Profit growth, 3 years
- 20.3%
- Debt to equity
- 0.92peers 0.22
- Borrowings
- ₹225 cr
- Interest cover
- 4.7×
- Cash from business / op. profit
- 17%
- Debtor days
- 134
- Pledged
- 0.00%
- Promoter holding
- 67.51%
- Change in promoter holding
- -
- Shareholders
- 3,497
- High / low since listing
- ₹735 / ₹431
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Q-Line Biotech share price chart
Close on 6 Nov 2026 · -4.60% on the day · Vol 48,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -25.2%
- 3 months
- -5.0%
- Since IPO
- +49.2%
- Traded a day, 20 days
- ₹5.01 cr
- Taken for delivery
- 66%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +9% | +99% |
| 3 years, a year | +23% | +20% |
| Latest half, H2 FY26 | -9% | +282% |
About Q-Line Biotech: business, products and customers
Q-Line Biotech makes and sells blood testing machines and the chemicals those machines use, for hospitals, labs and government health centres, mostly in Uttar Pradesh and nearby states. Its shares trade on NSE Emerge.
Q-Line Biotech makes diagnostic reagents and test kits, the analysers that run them, and lab consumables, covering clinical chemistry, haematology, immunology, molecular and rapid tests. Reagents brought in 69.8% of FY26 revenue, instruments 24.3%, consumables 5.1% and service contracts 0.8%.
It sells to hospitals, diagnostic labs and medical colleges through more than 75 distributors in 26 states and 2 union territories. About 65% of the business is with government, and Uttar Pradesh accounts for about 77% of revenue because billing runs through one large distributor there, a promoter entity that runs government labs. Exports were ₹1.2 cr in FY26.
Read more about the business
It has four plants, three in Lucknow and one in Delhi, and builds the Selectra Pro M chemistry analyser and haematology analysers under technology transfer deals with Vital Scientific and Boule Medical of Sweden. The shares listed on NSE Emerge on 29 May 2026 after a fresh issue of ₹214.5 cr.
What is new: the largest plant, Unit 4 in Lucknow, began in February 2026 with licences for five products; an electrolyte analyser has been launched and a Microlab 300 analyser is due; and the company is negotiating to make analysers for export under contract (CDMO).
From the FY26 annual report, the June 2026 investor presentation and earnings call, the August 2026 CARE rating letter and the September 2026 Boule announcement. No offer document was available to read.
Read the deeper study ↓In its favour
- Sales have grown fast: 23% a year over three years.
- It earns a high return on the money it uses: ROCE 22% in FY26.
- The promoters own a large part of the company: 67.51%.
To watch
- Commercial output of chemistry reagents at Unit 4, Lucknow, expected by Q2 FY27 subject to clearances (Investor presentation, June 2026, p.6).
- The aim to bring receivables within 90 to 120 days (Earnings call, June 2026, p.13).
- Closing of corporate guarantees given for related parties, which the CFO said is under way with no timeline (Earnings call, June 2026, p.14).
- The company's FY27 target of about 30% to 35% revenue growth (Investor presentation, June 2026, p.5).
- Customers take longer to pay than before: 134 days in FY26, against 66 in FY23.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Q-Line Biotech revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew faster than sales.
Q-Line Biotech half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H2FY26 | |
|---|---|---|
| Sales | 217 | 197.94 |
| Expenses | 172 | 135.86 |
| Operating profit | 45 | 62.08 |
| OPM | 21.0% | 31.4% |
| Interest | 8 | 11.11 |
| Depreciation | 3 | 6.70 |
| Profit before tax | 22 | 46.30 |
| Net profit | 9 | 34.41 |
Q-Line Biotech profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 183 | 203 | 314 | 341.74 |
| Expenses | 149 | 165 | 239 | 243.69 |
| Operating profit | 34 | 38 | 75 | 98.05 |
| OPM | 18.0% | 19.0% | 24.0% | 28.7% |
| Other income | 2 | 3 | -8 | 5.70 |
| Interest | 4 | 6 | 15 | 19.42 |
| Depreciation | 2 | 4 | 7 | 10.79 |
| Profit before tax | 30 | 31 | 44 | 72.55 |
| Tax rate | -6.7% | -9.7% | 36.4% | 23.2% |
| Net profit | 32 | 34 | 28 | 55.72 |
| EPS ₹ | 203.81 | 218.67 | 178.60 | 34.79 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
A tax rate above 60% or below zero (FY23, FY24) comes from tax charged on a small or negative profit, as reported.
Q-Line Biotech profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 18.0% | 19.0% | 24.0% | 28.7% |
| Tax rate | -6.7% | -9.7% | 36.4% | 23.2% |
| ROCE | · | 16.1% | 19.2% | 22.2% |
| ROE | · | 23.4% | 15.9% | 25.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Q-Line Biotech debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Q-Line Biotech balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 16.27 |
| Reserves | 126 | 160 | 188 | 229.92 |
| Net worth | 128 | 162 | 190 | 246.19 |
| Borrowings | 74 | 97 | 166 | 225.48 |
| Other liabilities | 50 | 80 | 99 | 87.02 |
| Total liabilities | 252 | 339 | 455 | 558.69 |
| Fixed assets | 23 | 60 | 92 | 141.58 |
| Capital work in progress | 12 | 19 | 63 | 15 |
| Investments | 16 | 29 | 0 | 16.67 |
| Other assets | 201 | 231 | 300 | 385.44 |
| Receivables | · | · | · | 125.82 |
| Inventory | · | · | · | 94.96 |
| Cash | · | · | · | 76.44 |
| Trade payables | · | · | · | 52.04 |
Q-Line Biotech cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 25 | -24 | -1 | 16.38 |
| Cash from investing | -26 | -45 | -59 | -29.42 |
| Cash from financing | 26 | 17 | 53 | 41.64 |
| Net cash flow | 25 | -52 | -7 | 28.60 |
| Capital spending | · | · | · | 35.91 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 66 | 47 | 96 | 134 |
| Inventory days | 180 | 413 | 226 | 258 |
| Days payable | 164 | 232 | 139 | 142 |
| Cash conversion cycle | 82 | 228 | 183 | 251 |
| Working capital days | -44 | 51 | 45 | 62 |
Q-Line Biotech peers and competitors
Listed SME companies in the same industryBy sales, Q-Line Biotech is number 1 of the 15 listed SME companies in healthcare equipment & supplies.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Q-Line Biotech | 1,194 | 21.4 | 342 | 55.7 | 28.7% | 0.92 |
| Osel Devices | 647 | 22.2 | 293 | 29.2 | 18.2% | 0.47 |
| Vasa Denticity | 805 | 78.6 | 279 | 10.2 | 3.9% | 0.00 |
| Hemant Surgical Industries | 875 | 48.6 | 232 | 18 | 10.0% | 0.36 |
| Mohini Health & Hygiene | 57 | - | 144 | -16.7 | -1.8% | 0.39 |
| Vaidya Sane Ayurved Laboratories | 177 | 19.7 | 107 | 9 | 14.4% | 0.04 |
| Royal Sense | 39 | 5.5 | 103 | 7 | 11.0% | 0.33 |
| Prevest Denpro | 472 | 23.6 | 72 | 20 | 35.0% | 0.00 |
| Aprameya Engineering | 187 | 36.6 | 55.1 | 5.1 | 19.1% | 0.10 |
| Earkart | 172 | 35.0 | 54 | 4.9 | 15.4% | 0.00 |
| Avience Biomedicals | 149 | 17.0 | 52.5 | 8.8 | 28.4% | 0.92 |
| Median of the 10 others | 182 | 23.6 | 105 | 8.9 | 14.9% | 0.22 |
Q-Line Biotech shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share.
Q-Line Biotech shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| May 26 | |
|---|---|
| Promoters | 67.51% |
| Foreign investors (FIIs) | 1.67% |
| Indian institutions (DIIs) | 10.14% |
| HNIs (over ₹2 lakh each) | 4.20% |
| Small holders (up to ₹2 lakh) | 11.77% |
| Companies and others | 4.71% |
| Number of shareholders | 3,497 |
The named holders are at 28 May 2026, each under the group the pattern files them in.
Q-Line Biotech study: the business from its own documents
Read from 7 of the company's own documentsQ-Line Biotech so far
From the company's own record
- 29 May 2026Listed on NSE Emerge at ₹343
- 31 May 2026Promoters at 67.51%
- 11 Sept 2026Highest close since listing, ₹726.20
Q-Line Biotech key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹341.7 cr
- Consolidated revenue from operations in FY26, up 9% on FY25; profit after tax was ₹55.7 cr.Investor presentation, June 2026, p.8; Earnings call, June 2026, p.5
- Reagents
- 69.8% of revenue
- Share of FY26 revenue from reagents, the chemicals used in each test; reagent revenue grew 35% in the year.Investor presentation, June 2026, p.6 and p.10
- EBITDA margin
- 22.5% → 28.7%
- Margin from FY25 to FY26, as more of the reagents sold were made in house rather than bought in.Investor presentation, June 2026, p.6 and p.8
- Analysers added
- About 2,500
- Analysers placed in the last two years (about 1,550 Selectra Pro M and 1,053 haematology units), each expected to use reagents for eight to ten years.Earnings call, June 2026, p.7 and p.10
- Closed system
- 75% to 80%
- Share of the business where the company's analysers run only its own reagents, per the June 2026 call.Earnings call, June 2026, p.16
Show 5 more facts
- Uttar Pradesh
- About 77% of revenue
- Share billed in Uttar Pradesh, through the largest distributor, a promoter entity that also supplies government labs in other states.Investor presentation, June 2026, p.15; Earnings call, June 2026, p.13 to 14
- IPO
- ₹214.5 cr
- Fresh issue of 62,53,000 shares; the shares listed on NSE Emerge on 29 May 2026. Most of the money is for working capital.Investor presentation, June 2026, p.29
- Royalty to Boule
- 25% lower
- Cut in the licence and royalty payable to Boule Medical from 1 July 2026, under a new five year agreement.Exchange announcement, 2 September 2026, p.1 to 2
- Unit 4, Lucknow
- Five product licences
- Licences held at the new plant commissioned in February 2026; commercial output of chemistry reagents is expected by Q2 FY27, subject to clearances.Investor presentation, June 2026, p.6
- Credit rating
- CARE A-/Stable
- First rating, assigned in August 2026 on ₹221.3 cr of bank facilities, with CARE A2+ on the short term part.Credit rating letter, CARE, August 2026, p.1 to 2; our arithmetic
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it is targeting revenue growth of about 30% to 35% in FY27, with reagent revenue growing at a similar pace. It expects commercial output of chemistry reagents at Unit 4 by Q2 FY27, subject to clearances, the Microlab 300 analyser launch by Q2 FY27, exports about five times FY26 levels and about ₹10 cr from contract manufacturing in FY27. The CFO said it aims to keep receivables within 90 to 120 days.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Q-Line Biotech places testing machines with labs and then earns for years on the chemicals those machines use, more and more of which it now makes itself.
Its weak spots are heavy reliance on government business through one promoter linked distributor, and slow payment from customers.
AverageCan it set its own prices?Reagents made in house earn good margins, but much of the business comes through government buying, where price matters a great deal.
AverageHow strong is it against rivals?Making both machines and reagents in India, with licensed European designs, sets it apart, but large global makers compete and often place machines free.
WatchWho are its customers?Government labs and hospitals give most of the business, and the largest distributor is a promoter entity.
WatchDoes it need a lot of money?Yes. Customers take months to pay and the company sells machines on credit, so a lot of cash is tied up; it has also guaranteed loans of related parties.
StrongCan it keep finding new work?Each analyser placed brings years of reagent orders, and many new machines went out in the last two years.
AverageDo good and bad years swing a lot?Reagent sales are steady, but machine sales come in bursts, and most of each year's sales land in the second half.
Who runs Q-Line Biotech?
Promoters, directors and officers; tap a name for the background
SGSaurabh GargPromoter, Chairman and Managing Director · holds 43.69%
Associated with the company since its incorporation; holds a Diploma in Electronics Engineering from Lucknow Polytechnic and has over 31 years in healthcare and diagnostics, including setting up diagnostic labs as turnkey projects. Responsible for business development, strategic guidance and performance. Received the Jan Swasthya Sewa Award in 2018.
Annual report FY26, p.27; Investor presentation, June 2026, p.18AGAmita GargPromoter and Non-Executive Director · holds 16.88%
Associated with the company since its incorporation; holds a doctorate from Social Awareness and Peace University and arts degrees from Dr. Ram Manohar Lohia Avadh University, with over 15 years in financial oversight, budgeting and administration.
Annual report FY26, p.27AKAjay Kumar MahantyPromoter, Whole Time Director and CEO · holds 3.21%
On the board since 2015; holds an MBA from Berhampur University and a science diploma from Utkal University, with over 20 years in sales, marketing and strategy in diagnostics. Leads sales and marketing, oversees manufacturing and heads research and development.
Annual report FY26, p.28; Investor presentation, June 2026, p.18AAAbhay AgrawalPromoter and Non-Executive Director · holds 3.24%
On the board since 2015; holds a master's degree in science from Banaras Hindu University, with over 17 years in business development, strategic planning, HR and administration.
Annual report FY26, p.27AGAyush GargPromoter and Non-Executive Director
On the board since 2023; holds a Bachelor of Science from Dr. Ram Manohar Lohia Avadh University, with over 5 years of experience. Leads finance, technology, corporate planning and market expansion.
Annual report FY26, p.28KCKuldeep ChowdhryWhole Time Director
On the board since 2015; holds an MBA from Sikkim Manipal University and a Bachelor of Science from Kanpur University, with over 29 years in biotechnology. Oversees operations across research, production and quality control.
Annual report FY26, p.28YSYethadka Subraya PrabhakaraWhole Time Director
On the board since May 2025; holds science degrees from the University of Agricultural Sciences, Bangalore, and a Post Graduate Diploma in Management (Agriculture) from IIM Ahmedabad, with about 31 years in general management. Responsible for overall strategy and operations.
Annual report FY26, p.29MGMeenal GuptaChief Financial Officer
A Chartered Accountant with more than 18 years of experience.
Investor presentation, June 2026, p.18; Annual report FY26, p.6PKPravir KumarIndependent Director
A retired IAS officer (1982 batch, Uttar Pradesh cadre) with a B.Tech in Electrical Engineering from IIT Kanpur; over 38 years in government, including as Secretary, Inter-State Council Secretariat. On the board since May 2025; chairs the audit committee.
Annual report FY26, p.29 and p.31RNRohit NandanIndependent Director
A retired IAS officer (1982 batch, Uttar Pradesh cadre) with over 41 years in public administration; has served as Chairman and Managing Director of Air India and Secretary, Ministry of Skill Development. On the board since May 2025.
Annual report FY26, p.29Q-Line Biotech latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹198 cr (-9%), net profit ₹34.4 cr (+282%) on H2 FY25.
Q-Line Biotech announcements
30 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Shareholders meetingvoting results of Annual General Meeting held on September 30, 2026 and Scrutinizer ReportPDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 30, 2026PDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 30, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Updates'The dispatch of the Notice of the Annual General Meeting scheduled to be held on September 30, 2026, to the shareholders whose registered email addresses couldPDF ↗
- Updates'Corrigendum to the Intimations dated 07.09.2026 Correction in the Number of the Annual General Meeting and Notice of Annual General Meeting as mentioned in thPDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Updates'Q-Line Biotech Limited has informed the Exchange about the Annual Report_2025-26 along with Notice of 37th Annual General Meeting along with and other informatPDF ↗
- General UpdatesAnnual Report_2025-26 along with Notice of 37th Annual General Meeting along with and other information/communication to Shareholders, pursuant to Regulation 30PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 30, 2026PDF ↗
- Outcome of Board MeetingHeld on September 05, 2026PDF ↗
Q-Line Biotech annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Q-Line Biotech share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Q-Line Biotech's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 96 days in the past year, so the price, its range and the returns here rest on few trades.
- iNet profit is above profit before tax in FY24: a tax credit or a share of associates' profit, as reported.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,33,28,199 shares).
- !The FY26 results imply 1,62,70,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY25 (₹178.60) and FY26 (₹34.79) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Q-Line Biotech
What does Q-Line Biotech do?
Q-Line Biotech makes and sells blood testing machines and the chemicals those machines use, for hospitals, labs and government health centres, mostly in Uttar Pradesh and nearby states. Its shares trade on NSE Emerge.
What is the share price of Q-Line Biotech?
₹512 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Q-Line Biotech?
₹1,194 cr at the close on 6 Nov 2026, on 2,33,28,199 shares.
What is the P/E of Q-Line Biotech?
21.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Q-Line Biotech's revenue and profit?
Revenue ₹342 cr and profit after tax ₹56 cr in FY26.
Who are the promoters of Q-Line Biotech?
Saurabh Garg, Amita Garg, Ajay Kumar Mahanty, Abhay Agrawal, Ayush Garg; promoters held 67.51% at 31 May 2026.
What was the IPO price of Q-Line Biotech?
₹343 a share; it listed on 29 May 2026.
What is Q-Line Biotech's website?
www.qlinebiotech.com
More SME companies like Q-Line Biotech
Other listed SME companies in healthcare equipment & supplies, the closest in size first, each read from its own documents.
- Hemant Surgical IndustriesHSIL · BSE SME · Healthcare Equipment & SuppliesMarket cap ₹914 cr
- Vasa DenticityDENTALKART · NSE Emerge · Healthcare Equipment & Supplies · listed 2023Market cap ₹775 cr
- Osel DevicesOSELDEVICE · NSE Emerge · Healthcare Equipment & Supplies · listed 2024Market cap ₹658 cr
- Prevest DenproPREVEST · BSE SME · Healthcare Equipment & SuppliesMarket cap ₹478 cr
- Aprameya EngineeringAPRAMEYA · NSE Emerge · Healthcare Equipment & Supplies · listed 2024Market cap ₹248 cr
- EarkartEARKART · BSE SME · Healthcare Equipment & SuppliesMarket cap ₹153 cr
Every listed SME company in Healthcare Equipment & Supplies → · SME companies listed in 2026 →
Built from 2 annual reports, 2 credit rating notes, 1 result filing, 1 earnings call transcript, 1 investor presentation, 30 exchange announcements, 1 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.