Thyrocare Technologies Ltd.

NSE: THYROCARE · Healthcare Service Provider

52W Range₹343 ₹1,610

Snapshot

Unlock Thyrocare Technologies Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Thyrocare Technologies Limited is an Indian diagnostic and preventive care company providing a wide range of medical testing services to patients, hospitals, and laboratories. It operates through diagnostic testing, imaging services, and other healthcare-related segments, notably leveraging its Aarogyam brand for wellness profiles.

Business Model

The company generates revenue primarily through the provision of diagnostic testing services, the sale of medical consumables, and the distribution of radiopharmaceuticals. It operates a hub-and-spoke model to provide cost-effective, high-volume testing across India.

  • Founded:1996

Growth Outlook

Growth is driven by the expansion of the Aarogyam wellness brand and the increasing demand for preventive healthcare services in India. The company continues to focus on scaling its diagnostic network and diversifying its product offerings in the medical consumables space.

Key Risks

  • Regulatory Compliance. The diagnostic industry is subject to stringent healthcare regulations and quality standards that may impact operational costs if compliance requirements change.
  • Market Competition. The company faces intense competition from both large diagnostic chains and local unorganised players, which may exert pressure on pricing and margins.
  • Technological Obsolescence. Failure to keep pace with advancements in diagnostic technology and automation could lead to a loss of market share and operational efficiency.
  • Dependency on Referral Networks. The business model relies heavily on a network of laboratories and hospitals, making it vulnerable to shifts in partnerships or referral patterns.

Price

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Key Metrics

REVENUE

₹829 Cr

TTM · consolidated

+20.6%YoY

NET PROFIT

₹163 Cr

TTM · consolidated

+45.9%YoY

EPS

₹21.21

TTM · consolidated

+22.9%YoY

RETURN ON EQUITY

29.3%

TTM · consolidated

+8.3 ppYoY

RETURN ON CAPITAL EMPLOYED

36.5%

TTM · consolidated

+9.6 ppYoY

P/E

24.9x

Q4 FY26 · consolidated

24.9 vs 30.7x5Y avg

EV/EBITDA

9.9x

Q4 FY26 · consolidated

9.9 vs 15.7x5Y avg

EBITDA MARGIN

33.7%

TTM · consolidated

+3.8 ppYoY

NET PROFIT MARGIN

21.7%

Q4 FY26 · consolidated

+10.2 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

-0.05xYoY

Peers · Healthcare Service Provider

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Thyrocare Technologies Ltd.THYROCARE
5,85724.869.8920.6%33.7%29.3%36.5%-56.0%
Vijaya Diagnostic Centre Ltd.VIJAYA
9,13083.9340.5219.5%43.9%20.7%22.6%+37.3%
Metropolis Healthcare Ltd.METROPOLIS
9,10019.7328.0423.6%25.9%13.9%17.4%-70.8%
Nephrocare Health ServicesNEPHROPLUS
5,25922.0%
Krsnaa Diagnostics Ltd.KRSNAA
1,83217.478.927.8%33.0%11.2%14.7%-34.5%
Suraksha Diagnostic Ltd.SURAKSHA
1,31841.2513.6632.1%14.7%18.4%-19.9%

As of Q4 FY26

Financials