Thyrocare Technologies Limited (hereinafter referred to as “Thyrocare”) (NSE: THYROCARE, BSE: 539871), one of India’s leading healthcare diagnostics companies, has announced its financial results for the quarter ended 30 September 2025.
Thyrocare’s Key Financial Highlights for Q2FY26
(Consolidated Financial Results in INR Crore)
| Revenue | Normalised EBITDA | Profit After Tax | Revenue Growth (YoY) | EBITDA Growth (YoY) | PAT Growth (YoY) |
|---|---|---|---|---|---|
| INR 216.53 Cr | INR 75.36 Cr | INR 47.90 Cr | 22% YoY | 49% YoY | 82% YoY |
Strong Financial Performance and Shareholder Rewards
Thyrocare reported consolidated revenue of ₹216.53 crore for Q2FY26, marking a 22% year-on-year rise driven by continued strength in the pathology segment, which grew by 24% YoY.
Normalised EBITDA stood at ₹75.36 crore, up 49% YoY, supported by better operating leverage, cost efficiencies, and business mix optimisation. Profit After Tax (PAT) surged 82% YoY to ₹47.90 crore, reflecting the company’s focus on profitable growth.
Gross margin remained robust at 72%, while EBITDA margin stood at 33%. The company remains debt-free on a consolidated basis, maintaining net cash and short-term investments exceeding ₹190 crore.
Recognising this strong performance, the Board of Directors has declared an interim dividend of ₹7 per equity share (face value ₹10 each, pre-bonus) with 24 October 2025 as the record date. The Board has also approved a 2:1 bonus issue, subject to statutory, regulatory, and shareholder approval.
The proposed bonus issue reflects Thyrocare’s confidence in its long-term growth trajectory and its continued commitment to shareholder value creation, stock liquidity, and expanding retail participation.
Operational Milestones
During the quarter, Thyrocare processed an all-time high of 53.3 million tests, a 21% YoY increase, reinforcing its leadership as India’s largest diagnostic test volume processor.
The Pathology business continued to gain traction with franchise revenue rising 20% and partnership revenue up 35% YoY.
In H1FY26, the company expanded its network by adding four new laboratories in Vijayawada, Bhagalpur, Roorkee, and Kashmir, enhancing regional penetration and improving access to diagnostic services across India.
“We are pleased to report a robust set of results for the quarter and the announcement of our bonus issue on the occasion of 25 years of Thyrocare coinciding with the auspicious occasion of Diwali. These numbers underscore our continued focus on operational excellence, network expansion, and value-driven diagnostics. As we deepen our presence in underserved regions and scale our franchise and partner channels, we remain committed to delivering high-quality, affordable healthcare services across India.”
– Rahul Guha, MD & CEO, Thyrocare Technologies Ltd
“We are delighted with Thyrocare’s strong Q2FY26 performance, which reflects the strength of our business fundamentals, disciplined financial management, and the unwavering commitment of our teams. As we mark 25 years of trust and innovation, the bonus share announcement underscores our commitment to our shareholders and investors, and reinforces confidence in our long-term growth journey.”
– Alok Kumar Jagnani, Group CFO
Leave a Reply