Founder Stack

Diagnostic and pathology services chain Sterling Accuris’ revenue growth slowed to 16% year-on-year during the fiscal year ending March 2026, compared with in FY25. Meanwhile, the Ahmedabad-based firm also saw its losses widened by 38% during the year. Sterling Accuris’ revenue from operations grew to Rs 230.7 crore in FY26 from Rs 198.3 crore in FY25, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. Founded in 2014, Sterling Accuris Diagnostics provides a range of diagnostic and pathology testing services across India. The company offers more than 2,000 tests through a network of over 250 laboratories and collection centres spanning 50+ cities. It claims to have conducted more than 10 million tests to date. Testing services remain the company’s sole source of revenue. The firm earned an additional Rs 2.9 crore from non-operating sources, taking its total income to Rs 233.6 crore in FY26 from Rs 201.8 crore in FY25. For the diagnostics firm,  employee benefits remained its largest expense at Rs 59 crore, rising 14% year-on-year. Materials used for testing and diagnostics increased 16% to Rs 52.2 crore, while fees paid to doctors and pathologists stood at Rs 42.8 crore. Depreciation and amortisation expenses stood at Rs 20.66 crore, while advertising and promotional expenses surged 84% to Rs 10.5 crore. Overall, the company’s total expenses increased 17.5% to Rs 259.5 crore in FY26 from Rs 220.9 crore in FY25. With expenses growing faster than revenue, Sterling Accuris Diagnostics’ profitability weakened in FY26. The company’s net loss widened 38% to Rs 32 crore in FY26, compared to Rs 23.2 crore in FY25. However, the firm remained EBITDA positive at Rs 2.8 crore during FY26, with an EBITDA margin of 1.2%. Its ROCE stood at -7.9% during the year. On a unit basis, Sterling Accuris spent Rs 1.12 to earn a rupee of operating revenue in FY26. As of March 2026, the company had current assets worth Rs 57 crore, including Rs 23 crore held in cash and bank balances. Sterling Accuris competes with players such as Y Combinator-backed Orange Health, which clockedRs 139 crorein revenue in FY26. PharmEasy-owned Thyrocare reported Rs 829 crore in revenue and Rs 163 crore in profit during the same fiscal year. Redcliffe Labs postedRs 419 crorein revenue in FY25, while Healthians reportedRs 263 croreand narrowed its loss to Rs 5 crore. The FY26 financials of Redcliffe Labs and Healthians are yet to be filed. Sterling Accuris has raised a total of $33 million in funding to date. Its lead investors are Morgan Stanley, holding a 35.64% stake, and Udhay Vi Realty, with a 17%. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.