Thyrocare Technologies Ltd
Thyrocare Technologies is engaged in the business of healthcare industry and is involved in providing quality diagnostic services at affordable costs to patients, laboratories and hospitals in India.
- Market Cap ₹ 6,890 Cr.
- Current Price ₹ 1,300
- High / Low ₹ 1,358 / 658
- Stock P/E 65.5
- Book Value ₹ 103
- Dividend Yield 1.60 %
- ROCE 24.8 %
- ROE 16.0 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 135%
- Company's working capital requirements have reduced from 24.3 days to 16.9 days
Cons
- Stock is trading at 13.0 times its book value
- The company has delivered a poor sales growth of 9.62% over past five years.
- Company has a low return on equity of 13.8% over last 3 years.
- Promoters have pledged or encumbered 100% of their holding.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Healthcare Healthcare Healthcare Services Healthcare Service Provider
Part of BSE Healthcare BSE SmallCap BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
183 | 241 | 304 | 356 | 403 | 434 | 495 | 589 | 527 | 572 | 687 | 723 | |
110 | 147 | 189 | 212 | 249 | 261 | 323 | 353 | 403 | 432 | 498 | 519 | |
Operating Profit | 73 | 94 | 115 | 145 | 154 | 174 | 171 | 236 | 123 | 140 | 190 | 204 |
OPM % | 40% | 39% | 38% | 41% | 38% | 40% | 35% | 40% | 23% | 24% | 28% | 28% |
8 | 7 | -15 | 21 | 11 | 1 | 12 | 29 | 9 | 9 | 15 | 16 | |
Interest | 0 | 1 | 0 | 0 | 1 | 2 | 1 | 3 | 5 | 6 | 4 | 3 |
Depreciation | 13 | 18 | 18 | 20 | 26 | 32 | 30 | 34 | 39 | 47 | 55 | 55 |
Profit before tax | 68 | 82 | 82 | 145 | 138 | 140 | 152 | 228 | 89 | 96 | 145 | 162 |
Tax % | 35% | 37% | 48% | 36% | 38% | 37% | 26% | 23% | 27% | 28% | 38% | |
44 | 52 | 43 | 93 | 85 | 88 | 113 | 176 | 64 | 69 | 91 | 105 | |
EPS in Rs | 8.95 | 9.64 | 7.98 | 17.36 | 16.13 | 16.73 | 21.40 | 33.29 | 12.18 | 13.36 | 17.27 | 20.09 |
Dividend Payout % | 171% | 104% | 125% | 58% | 124% | 30% | 117% | 45% | 148% | 135% | 122% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | 10% |
3 Years: | 5% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | 7% |
5 Years: | -1% |
3 Years: | -18% |
TTM: | 38% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 17% |
3 Years: | 29% |
1 Year: | 73% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 20% |
3 Years: | 14% |
Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 51 | 54 | 54 | 54 | 53 | 53 | 53 | 53 | 53 | 53 | 53 |
Reserves | 226 | 312 | 354 | 390 | 382 | 314 | 374 | 474 | 481 | 474 | 494 |
-0 | -0 | -0 | -0 | 2 | 12 | 8 | 21 | 23 | 42 | 25 | |
53 | 44 | 30 | 36 | 37 | 90 | 106 | 60 | 74 | 75 | 121 | |
Total Liabilities | 329 | 410 | 438 | 479 | 475 | 469 | 541 | 607 | 632 | 644 | 693 |
196 | 259 | 259 | 299 | 294 | 269 | 253 | 285 | 294 | 306 | 297 | |
CWIP | 6 | 1 | 17 | -0 | 1 | 5 | 8 | 3 | 2 | 3 | 14 |
Investments | 86 | 93 | 104 | 120 | 95 | 90 | 126 | 146 | 144 | 162 | 162 |
42 | 56 | 58 | 60 | 84 | 105 | 154 | 173 | 192 | 173 | 220 | |
Total Assets | 329 | 410 | 438 | 479 | 475 | 469 | 541 | 607 | 632 | 644 | 693 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|
34 | 68 | 90 | 107 | 100 | 168 | 115 | 113 | 129 | 168 | 191 | |
-18 | -18 | -42 | -43 | -12 | 1 | -49 | -24 | -39 | -91 | -53 | |
-23 | -45 | -49 | -64 | -94 | -165 | -62 | -89 | -86 | -85 | -130 | |
Net Cash Flow | -6 | 5 | -0 | -0 | -5 | 4 | 4 | 0 | 4 | -8 | 8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 10 | 11 | 8 | 10 | 11 | 14 | 33 | 58 | 59 | 28 | 39 |
Inventory Days | 48 | 56 | 65 | 66 | 60 | 64 | 52 | 53 | 62 | 104 | 89 |
Days Payable | 5 | 10 | 6 | 25 | 25 | 68 | 56 | 36 | 54 | 88 | 146 |
Cash Conversion Cycle | 53 | 57 | 67 | 50 | 46 | 10 | 29 | 75 | 67 | 44 | -18 |
Working Capital Days | 28 | 2 | 19 | 10 | 28 | -5 | 21 | 44 | 36 | 20 | 17 |
ROCE % | 24% | 28% | 33% | 30% | 35% | 36% | 42% | 17% | 18% | 25% |
Documents
Announcements
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General Update
9h - Re-filing earnings call audio due to missing digital signature, no content change.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
12h - Newspaper Advertisement on unaudited financial results for Quarter ended June 30, 2025.
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Audio Recordings Of Earnings Conference Call For The Quarter Ended June 30, 2025.
1d - Audio recording of Q1 FY26 earnings call available on company website.
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Announcement under Regulation 30 (LODR)-Change in Management
1d - Q1 FY2026 results approved; CFO Alok Jagnani resigns, appointed Non-Exec Director; Vikram Gupta new CFO from July 24, 2025.
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Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
1d - Q1 FY2026 results approved; CFO Alok Jagnani resigns, Vikram Gupta appointed CFO; director resignations and management updates.
Annual reports
Concalls
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Business Segments
1) Diagnostic Testing Services (92% in FY25 vs 94% in FY22): [1] [2] The company is one of the leading Pan-India diagnostic chains, offering a range of tests focused on early disease detection and health management. It provides 929 tests and 288 profiles, including 43 wellness packages under the “Aarogyam” brand. It processes 3 Bn investigations annually and can process 10 Bn annually. [3] [4]