According to reports, L&T Semiconductor Technologies and Hon Young Semiconductor, a subsidiary of contract maker Foxconn, inked a long-term agreement on 14 October to collaborate on the development of high-voltage semiconductor wafers. According to the Economic Times, the two businesses would create wafers for industrial and automotive applications with voltage ranges between 650V and 3,300V.
The two will also “cooperate” to guarantee “wafer performance, quality, and scalability,” according to the article. According to a statement from the firm, the collaboration makes use of LTSCT’s integration skills and domain knowledge of automotive and industrial power solutions, as well as HYS’s extensive experience in wafer fabrication.
According to reports, the collaboration will also make it possible for L&T Semiconductor to design and manufacture wafers specifically for power components using Hon Young Semiconductor’s facilities in Taiwan.
L&T Semiconductor Technologies and its Operations
L&T Semiconductor Technologies is a fully-owned subsidiary of Larsen & Toubro (L&T), an engineering, procurement, and construction (EPC) firm. The company that manufactures fabless semiconductors creates and supplies smart gadgets to clients worldwide. It seeks to develop a semiconductor portfolio for automotive, industrial, energy, and telecommunications sectors that includes power, analogue, mixed signal, and radio frequency products.
This latest venture is L&T’s most recent attempt to establish a presence in the rapidly expanding Indian semiconductor market. In June, the domestic company partnered with Kaynes Semicon to pay INR 118.32 Cr to acquire the power modules division of Fujitsu General Electronics, a Japanese company.
In order to design cutting-edge CPUs, L&T Semiconductor Technologies also inked a research and development (R&D) agreement with tech giant IBM in September of last year. The company had previously announced in July 2024 that it will pay INR 183 Cr to acquire a 100% share in semiconductor design startup SiliConch Systems.
Foxconn Aggressively Expanding its Network in India
Foxconn has been rapidly expanding its business in India. The business and HCL stated earlier this year that they would form a joint venture (JV) to establish an OSAT plant in Noida, Uttar Pradesh, to produce chips for computers, mobile phones, and cars. In the meantime, Foxconn’s primary business is the production of smartphones.
The Taiwanese corporation has committed INR 15,000 Cr to expand its activities in the state, according to a statement made by Tamil Nadu Industries Minister TRB Rajaa just one day ago. This came after Foxconn’s plan to invest $2.2 billion in the US and India was approved by Taiwan’s Ministry of Economic Affairs.
Nevertheless, Foxconn is among India’s biggest contract iPhone makers. The business shipped $3.2 billion worth of iPhones from India to the US between March and May. In 2025, it intends to produce 25–30 million iPhones in India.
Quick
Shots
•L&T Semiconductor Technologies partners with
Hon Young Semiconductor (Foxconn subsidiary).
•Develop high-voltage semiconductor wafers for
industrial and automotive applications.
•Ensuring wafer performance, quality, and
scalability.
•Combines L&T’s automotive and industrial power
expertise with Hon Young’s wafer fabrication experience.
PhysicsWallah (PW), the education platform founded by Alakh Pandey and Prateek Maheshwari, has signed a Memorandum of Understanding (MoU) with IDP Education India (“IDP”), co-owner of IELTS and India’s sole provider of the test, to bring global opportunities closer to students.
Under this collaboration, PW students will gain access to the IELTS curriculum along with awareness sessions, seminars, boot camps, and expert masterclasses. Both organisations will provide preparation tools and learning resources to help students build confidence for the IELTS test. From classroom seminars to large-scale auditorium events, the initiative aims to make guidance and practice accessible where students study.
This initiative is part of PW’s broader effort to help learners achieve their best IELTS scores and access global opportunities through informed guidance and comprehensive test preparation.
As part of the collaboration, IDP will provide free IELTS preparation tools, discounted learning resources via its partners, and establish dedicated IELTS Corners within PW campuses. These initiatives aim to strengthen students’ readiness and confidence while expanding IELTS accessibility across India.
Commenting on the partnership, Atul Kumar, CEO, Online, PhysicsWallah, said:
“Our thought has always been student-first, and all our efforts are to try to aim towards their betterment and success. Our partnership with IDP is an effort to make available the right guidance and tools to get closer to their dreams. Along with IDP, we are trying to ensure that students don’t just prepare for the IELTS test but prepare for a future without limits.”
Piyush Kumar, Regional Director, South Asia, Canada and Latin America (LATAM), IDP Education, added:
“At IDP Education, our mission has always been to help individuals unlock global opportunities, including through IELTS. This collaboration with PhysicsWallah marks a step towards expanding access to quality IELTS preparation across India. By combining IDP’s expertise with PhysicsWallah’s strong student connect, we aim to empower more test takers to achieve their best IELTS scores and move closer to their international aspirations.”
Through this partnership, PhysicsWallah and IDP reaffirm their shared commitment to empowering India’s youth by improving access to IELTS preparation and guidance.
Consuma, an AI startup redefining traditional research methods such as surveys and focus groups, has raised $1.3 million (INR 11.16 Crore) in seed funding, led by Equirus InnovateX Fund. The round also saw participation from prominent angel investors, including Abhishek Goyal (Tracxn), Mekin Maheshwari (Flipkart), Bhavik Dholakia (Swatantra Wealth), Harsh Shah (Fynd), Arnav Kumar (Leap Finance), Shiv Kapoor (Titan Capital), Biswa Kalyan Rath (Comedian) and several others.
The funds will be deployed to further develop technology and expand market presence both domestically and internationally.
Founded in 2021 by Abhilash Madabhushi during his second year at PES University, Consuma is transforming the consumer research landscape by enabling brands to derive faster, deeper insights from digital behaviour data at scale. In under six months since its public launch, the company already partners with over 35 global brands, including Godrej and Britannia.
Speaking on the development, Abhilash Madabhushi, Founder of Consuma, said:
“Consumers are changing faster than ever before, and brands need research methods that keep up with this rate of change. Unfortunately, traditional research methods have become sluggish and outdated. Relying on surveys in 2025 is like relying on smoke signals in the era of satellites. At Consuma, we are building technology to bring consumer research into the age of AI — driving differential insights in minutes, not months. We already see this with our customers, but in the not-too-distant future it will be clear that brands that use Consuma will outperform their competitors that do not. With this round, we can accelerate our journey towards that mission.”
Sadhika Agarwal, Principal Officer at Equirus InnovateX Fund, added:
“In a world of quick commerce where consumer expectations evolve in real time, shelf life of insights is low. Brands can no longer rely on million-dollar research projects that run into months. Consuma AI’s exceptional team and platform brings that decision intelligence into the moment. This investment round will help scale faster, deepen the tech, and enable delivery of insights from source to strategy, in minutes, not weeks.”
Consuma’s AI Engine allows brands to conduct research in 30 minutes instead of 2-3 months, at one-tenth of the cost, while analysing 1,000 times more data.
Amazon is preparing for a significant wave of layoffs once more. According to reports, the firm is planning to lay off up to 15% of the employees in its human resources department, which is internally referred to as the People eXperience and Technology (PXT) team.
The HR department will be the most severely impacted, according to many individuals Fortune cited, though job losses may also occur in other areas of Amazon’s sizable consumer business. As Amazon invests billions in its cloud and AI activities, the cutbacks are made.
Building next-generation data centres to support AI infrastructure for internal usage and business clients will account for a large portion of the company’s over $100 billion in capital investments this year.
Amazon Relying More on AI than Humans
AI will characterise this new era, and not all employees will make the shift, according to CEO Andy Jassy, who took over from Jeff Bezos in 2021. Jassy encouraged employees to support Amazon’s AI initiative in a June company-wide memo, stating that those who do so, learn about AI, assist Amazon in developing and enhancing its AI capabilities internally, and provide for customers will be in a strong position to make a significant contribution and assist in the company’s transformation.
However, he cautioned that the corporation anticipates a reduction in its overall staff as a result of the efficiency gains from the widespread use of AI throughout the organisation.
Amazon Changing its Hiring Strategies
Amazon has already experienced the biggest layoffs in its history under Jassy’s direction, eliminating almost 27,000 corporate positions between 2022 and 2023. The latest round of cuts is more strategic and linked to a long-term change towards AI-driven operations, whereas those cuts were primarily motivated by post-pandemic overexpansion and shifting consumer habits.
The irony is not lost on anyone: Amazon is increasing its holiday hiring binge while also getting ready to fire white-collar employees. In order to meet holiday demand, the company recently revealed intentions to hire 250,000 seasonal workers across its logistics network and facilities in the United States. Jassy has established a reputation as a cost-discipline enforcer within the organisation.
He is renowned for encouraging teams to reach a particular level of “unregretted attrition”, or workers the business is at ease losing through managed exits or resignations. However, according to sources, these upcoming layoffs are not like the usual attrition cycles, suggesting a more extensive structural reorganisation. Amazon’s people operations could be one of the biggest victims of its own transition as it strives to become more effective and AI-focused. The writing may already be on the (data-centre) wall for many people in the PXT division.
Quick Shots
•Amazon plans major layoffs,
potentially affecting up to 15% of HR (PXT) staff.
•Human Resources (People
eXperience & Technology) most affected; other areas of consumer business
may also see cuts.
•Amazon’s strategic shift towards
AI-driven operations and efficiency gains.
•Over $100 billion invested this
year in AI infrastructure and next-gen data centres.
In 2025, Larry Ellison, co-founder and chairman of Oracle Corporation, has emerged as the biggest winner from the ongoing AI revolution. As companies worldwide expand their artificial intelligence capabilities, Oracle has become a key provider of the cloud and computing infrastructure powering these AI systems. Thanks to a series of high-value AI deals, Ellison’s net worth has surged, outpacing other tech leaders and highlighting the enormous value of AI infrastructure in today’s technology sector
A meteoric rise in net worth
Recent reports show Ellison has added roughly $140 billion to his net worth over the past year, more than any other tech figure closely tied to AI infrastructure.
For a time recently, Ellison even overtook Elon Musk to become the world’s richest person, albeit briefly. His wealth is now estimated to be in the $340-400 billion range, depending on market movements and the valuation of Oracle’s shares.
Ellison’s stake in Oracle is substantial, he owns about 40-41% of the firm. Thus, every significant rise in Oracle’s share price counts heavily in expanding his fortune.
Why Oracle is at the heart of the AI infrastructure boom
Ellison’s gains are closely tied to Oracle’s rising importance in the AI ecosystem — not for developing AI models, but by providing the backbone: data centres, cloud infrastructure, and computing power.
One headline contract is the $30 billion per year deal in which OpenAI agreed to lease about 4.5 gigawatts of computing power from Oracle. That deal has been seen as a major vote of confidence in Oracle’s capacity and an example of how AI developers are diversifying beyond the usual cloud providers.
Oracle’s “remaining performance obligations”, like commitments for future delivery of services, have ballooned. The figure now hovers near $455 billion, reflecting how many clients are locking in long-term AI infrastructure deals.
Still, the strategy is not without risk. Oracle faces high infrastructure costs, heavy capital expenditure, and concerns over whether all clients’ AI ambitions will be sustainable. Some analysts warn of overreliance on major bets — for instance, if OpenAI or other large customers falter, Oracle could feel the ripple effects.
What this means for the tech world
Ellison’s rise underscores a broader shift: in the AI arms race, the real money may lie not in creating chatbots or models, but in supplying the infrastructure behind them. Oracle has positioned itself as a significant “picks-and-shovels” player in the AI era.
Still, the spotlight now turns to execution. Can Oracle sustain growth, manage costs, and avoid overexposure to individual clients? And how will rivals respond?
One thing is clear: in 2025, Larry Ellison didn’t just ride the AI wave, he’s become one of its most visible and most successful beneficiaries.
At SpaceX’s Starbase facility in Texas, Nvidia founder and CEO Jensen Huang personally delivered the company’s recently released DGX Spark AI supercomputer to Elon Musk. The meeting occurred as SpaceX got ready for the eleventh test of its Starship rocket, according to a blog post the chipmaker posted. Huang described the occasion as “delivering the smallest supercomputer next to the biggest rocket.” In the interview with the CEO of SpaceX, Huang described how Spark advances that goal and related the tale of delivering the first DGX machine to OpenAI.
Meeting Between Musk and Huang
Before meeting Tesla CEO Elon Musk in the cafeteria, Jensen Huang arrived at the SpaceX location surrounded by engineers and employees. The blog claims that the two had a brief conversation regarding Nvidia’s early partnership with OpenAI and how the new DGX Spark carries on that goal. The system can execute models with up to 200 billion parameters locally, marking a significant advancement in portable AI processing capacity.
Nvidia’s DGX Spark and its Features
With a performance of up to one petaflop, the DGX Spark is a small AI supercomputer. Developers, academics, and artists who require powerful processing outside of conventional data centres are the target audience. Approximately 1.2 kg in weight, it combines portability with cutting-edge hardware, including the Nvidia GB10 Grace Blackwell Superchip for high-speed AI processing, 128 GB of unified memory for seamless model training and inference, Nvidia ConnectX networking and NVLink-C2C for quick data transfer, NVMe storage, and HDMI output for direct visualisation.
It comes preloaded with Nvidia’s entire AI software stack, which includes frameworks, libraries, pretrained models, and NIM microservices, allowing users to create chatbots, vision agents, and creative AI tools locally.
In order to introduce DGX Spark systems to the market and transform desktop computers into AI-ready workstations, Nvidia has teamed with companies such as Acer, ASUS, Dell Technologies, HP, Lenovo, GIGABYTE, and MSI. Ollama in Palo Alto, NYU Global Frontier Lab, Zipline, Arizona State University, and the studio of artist Refik Anadol are examples of early adopters. According to the company’s announcement, DGX Spark systems will be accessible worldwide via partner channels and Nvidia.com as of October 15.
Quick Shots
•Nvidia CEO Jensen Huang
personally delivered the DGX Spark AI supercomputer to Elon Musk at SpaceX
Starbase, Texas.
•Delivery coincided with SpaceX’s
11th Starship rocket test.
•Huang called it “delivering the
smallest supercomputer next to the biggest rocket.”
Microsoft has launched its first homegrown AI image generator, MAI-Image-1, marking a major step in reducing its reliance on OpenAI. The new model is already making waves, debuting among the top 10 models on LMArena, a global AI benchmark platform where users compare image outputs and vote for the best ones.
A Focus on Realism, Not Style
Unlike many AI image tools that focus on artistic or cartoon-style visuals, MAI-Image-1 aims for photorealism. Microsoft says it worked closely with professional artists and photographers to ensure the model avoids “repetitive and generically stylized outputs.”
The model specializes in natural lighting, reflections, and landscapes, offering fast and lifelike image generation. Microsoft claims it delivers results faster than “larger, slower models” in the market. The company didn’t name specific rivals, but the image generation field is currently led by OpenAI and Google.
Integration with Copilot and Bing Image Creator Coming Soon
Right now, MAI-Image-1 is available for testing on LMArena. Microsoft plans to integrate it soon into Copilot and Bing Image Creator, making the tool accessible to millions of users across its ecosystem.
The company stated that MAI-Image-1 is part of its effort to add real value for creators and ensure outputs look natural and professional. It also mentioned that its data selection and evaluation process focused on real-world creative tasks, guided by feedback from design professionals.
Part of Microsoft’s Independent AI Push
MAI-Image-1 joins MAI-Voice-1 (a voice generator) and MAI-1-preview (a chatbot) as part of Microsoft’s growing suite of in-house AI models. Mustafa Suleyman, Microsoft’s AI division chief, called this expansion part of an “enormous five-year roadmap.”
This move also reflects a shift in Microsoft’s broader strategy. The company is building its own AI infrastructure and diversifying beyond OpenAI, even bringing Anthropic’s Claude models into some Microsoft 365 Copilot features.
Tension Grows Between Microsoft and OpenAI
The $13 billion partnership between Microsoft and OpenAI appears to be under strain. The two firms are reportedly negotiating over equity stakes, revenue splits, and an ‘AGI clause’ that could limit Microsoft’s access once OpenAI achieves artificial general intelligence.
Meanwhile, OpenAI is pursuing independence, working with Oracle, Google Cloud, and Broadcom to build its own chips and infrastructure. Microsoft, on the other hand, is doubling down on internal AI projects like MAI-Image-1 to ensure self-reliance and flexibility.
In short, MAI-Image-1 is more than just an image generator, it’s a signal of Microsoft’s next chapter in AI innovation, one focused on realism, creativity, and independence.
India’s startup and corporate ecosystem continues to witness dynamic growth with significant funding rounds and key business developments on 14th October 2025. From real estate and edtech to agritech and pet food, startups are raising capital to scale operations, enhance technology, and expand market reach. In parallel, major corporate news highlights include Infosys initiating its annual performance review cycle and NASA’s Jet Propulsion Laboratory announcing workforce restructuring. This roundup captures the latest investments, strategic initiatives, and emerging trends shaping India’s innovation landscape.
Daily Indian Funding Roundup – 14th October 2025
Company
Amount Raised
Round
Lead Investor(s)
Sector
HouseEazy
INR 150 Cr
Series B
Accel, Chiratae Ventures, Antler
Real Estate / PropTech
SpeakX
$16 Mn
Series B
WestBridge Capital, Elevation Capital
EdTech / AI-based Learning
Two Brothers Organic Farms
INR 110 Cr
Series B
360 One Asset, Rainmatter Investments
Agritech / Organic Foods
Airbound
$8.65 Mn
Seed
Lachy Groom, Humba Ventures, Lightspeed
Drone Logistics / MedTech
Orange Sugar
INR 4 Cr
Pre-seed
Consumer Collective by Atrium, Ramakant Sharma
Kidswear / D2C Apparel
Airoclip
$2.75 Mn
Seed
T-Accelerate Capital, BITKRAFT Ventures
Gaming / AI-driven Personalization
Currently
$1 Mn
Seed
Aarvi Family Office
Social Networking / App
Reia Diamonds
INR 2 Cr
Pre-seed
Dinesh Talera and Venture Catalysts
Jewelry / Lab-grown Diamonds
Artha India Ventures II
INR 250 Cr
Fundraise
Not disclosed
Micro VC / Early-stage Fund
Fablestreet (parent company)
INR 50 Cr
Growth
Colossa Ventures and Rahul Garg
Fashion Tech / Offline Expansion
Cimcon Software
INR 52 Cr
Funding Round
Niveshaay
Software / Smart City Solutions
Muttley Crew
$425,000
Seed
Not disclosed
Pet Food / Health-focused D2C
HouseEazy launches Series B funding to expand real estate tech platform
HouseEazy, a full-stack property platform, raised INR 150 crore in a Series B round led by Accel. The startup will use the funds to scale its AI-powered home resale and rental platform, improve property listing accuracy, expand into new cities, and enhance customer support. The investment will accelerate its technology adoption, helping homeowners and buyers complete transactions faster with better transparency and efficiency.
SpeakX secures $16 Mn to grow AI-based English learning platform
Edtech startup SpeakX has raised $16 million in Series B funding led by WestBridge Capital. The startup will expand its AI-based language learning app, introducing voice-driven lessons, gamified learning, and adaptive exercises. Funds will help recruit talent, enhance platform features, and broaden access to students across India, making English learning more personalized, engaging, and effective for learners of all levels in schools and at home.
Two Brothers Organic Farms raises INR 110 Cr to expand organic food offerings
Two Brothers Organic Farms raised INR 110 crore in a Series B round. The funds will scale farm-to-consumer operations, increase organic product variety including ghee, rice, and spices, and strengthen supply chain logistics. The startup will also invest in technology for farm management and quality assurance. The round supports the mission of providing healthy, chemical-free food products directly from farmers to households across India.
Airbound raises $8.65 Mn to advance autonomous delivery drones
Drone startup Airbound raised $8.65 million in a seed round to develop autonomous delivery aircraft. The funds will expand its fleet, improve drone technology, and enhance delivery efficiency for healthcare, e-commerce, and logistics sectors. Airbound plans to scale operations, integrate advanced AI for navigation, and reduce delivery costs, aiming to make rapid, reliable, and safe drone deliveries an accessible solution for businesses and consumers nationwide.
Orange Sugar raises pre-seed funding to grow kidswear brand
Kidswear brand Orange Sugar secured INR 4 crore in pre-seed funding. The investment will help scale production, launch new clothing collections, and enhance brand marketing. The startup focuses on comfortable, safe, and stylish apparel for children up to 10 years old. Funds will also be used to strengthen online and offline sales channels, improve customer experience, and establish Orange Sugar as a leading premium kidswear brand in the Indian market.
Airoclip secures $2.75 Mn in seed round to scale AI-powered gaming
Airoclip raised $2.75 million in a seed round led by T-Accelerate Capital. The funding will help develop AI-driven personalized gaming experiences, expand game offerings, and grow the user base globally. The startup plans to enhance content generation, improve in-game engagement, and integrate adaptive gaming features to provide a more immersive experience. Funds will also be used to hire talent, improve analytics, and scale marketing efforts worldwide.
Currently app raises $1 Mn seed funding to expand social network platform
Social app Currently raised $1 million in seed funding led by Aarvi Family Office. The funds will enhance app features, expand the user base, and improve social engagement tools. The platform aims to connect users with relevant content, allow sharing of updates, and foster online communities. Investment will be used to strengthen development, optimize platform performance, and launch marketing initiatives to grow adoption across India and international markets.
Reia Diamonds raises pre-seed funding to grow lab-grown jewelry brand
Reia Diamonds, a lab-grown diamond jewelry brand, raised pre-seed funding to expand its sustainable luxury offerings. Funds will scale production, launch new collections, and strengthen D2C sales. The brand emphasizes ethical sourcing, eco-friendly processes, and affordable pricing while maintaining high-quality design. Investment will also support marketing initiatives and increase visibility, aiming to make lab-grown diamonds a preferred choice for conscious consumers looking for elegant, responsible jewelry.
Artha India Ventures II raises INR 250 Cr for micro VC investments
Artha India Ventures II raised INR 250 crore for its second micro VC fund. The fund will invest in early-stage startups across technology, consumer, and SaaS sectors. The investment will help founders access mentorship, growth support, and funding. The fund targets promising ideas in India’s expanding startup ecosystem, helping build scalable businesses, accelerate innovation, and strengthen entrepreneurship. Artha aims to be a key partner in creating India’s next generation of successful startups.
Fablestreet parent raises INR 50 Cr for offline expansion
Fablestreet’s parent company raised INR 50 crore to expand offline retail presence. The funds will be used to open new stores, enhance in-store experiences, and increase product availability. The startup focuses on stylish, comfortable clothing for urban customers. Expansion plans include tier-1 and tier-2 cities, marketing campaigns, and strengthening the supply chain. The investment aims to improve accessibility and brand visibility while supporting customer engagement and growth in offline channels.
Cimcon Software raises INR 52 Cr to grow smart city solutions
Cimcon Software raised INR 52 crore in a funding round led by Niveshaay. The capital will scale its smart city solutions, enhance urban infrastructure services, and deploy technology for traffic management, waste management, and public safety. Funds will be used to develop software, hire talent, and expand operations. The startup aims to make cities more efficient, sustainable, and safe, supporting urban governance and improving citizen experiences through technology-enabled solutions.
Muttley Crew secures $425,000 seed funding to expand pet food brand across India
Health-focused pet food brand Muttley Crew has raised $425,000 in a seed funding round to grow its footprint across India. The funds will be used to scale production, introduce new nutritious product lines for dogs and cats, strengthen distribution networks, and enhance marketing initiatives. The startup aims to provide high-quality, natural, and health-oriented pet food options for pet owners nationwide, focusing on wellness, safety, and taste.
Infosys has commenced its annual performance appraisal process, requesting employees to submit self-assessments by October 17, 2025. This review cycle, spanning from October to September, is crucial for determining potential salary increases for 2026. Employees are hopeful for more substantial raises following previous years of modest or delayed adjustments. The final ratings are expected by January, with salary revisions anticipated around June next year.
NASA’s Jet Propulsion Laboratory to Lay Off Approximately 550 Employees in Restructuring Effort
NASA’s Jet Propulsion Laboratory (JPL) announced plans to lay off about 550 employees, representing approximately 10% of its workforce. This restructuring, initiated in July 2025, aims to streamline operations and focus on core technical capabilities. The layoffs will affect staff across technical, business, and support departments. Director Dave Gallagher emphasized that these changes are essential for maintaining JPL’s long-term sustainability and competitiveness in the evolving space ecosystem.
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
In a regulatory statement on October 14, IT giant Infosys declared that it has won a £1.2 billion (about INR 14,137 crore) contract from the NHS Business Services Authority (NHSBSA) to provide a new workforce management system. The current Electronic Staff Record (ESR) system will be replaced with the data-driven personnel management platform called Future NHS Personnel Solution, which Infosys will construct under the terms of the 15-year agreement.
With approximately £55 billion in yearly payments, the new system will continue to handle payroll for 1.9 million NHS workers in England and Wales. “The NHS is a cornerstone of life in the UK, providing vital services that touch millions every day,” said Salil Parekh, chief executive officer and managing director of Infosys. It is an honour for NHSBSA to select Infosys to implement the Future Workforce Solution and bring about generational change.
Infosys Selected After Rounds of Procurement Processes
According to Infosys, it was chosen following a thorough procurement process because of its track record of successfully implementing significant digital transformations, its dedication to operational excellence, and its user-centric design methodology. Parekh said that Infosys will develop a solution that not only boosts productivity now but also equips the NHS for the future thanks to its vast experience in digital transformation and its artificial intelligence (AI) platform, Infosys Topaz.
In line with the NHS 10-Year Health Plan, the Future NHS Workforce Solution seeks to create a workforce that is up to date and prepared for the future by investing in digital infrastructure that increases productivity and frees up medical staff to concentrate on patient care.
Details of NHS 10-Year Health Plan
The company said that the new platform, which is driven by AI and cutting-edge technologies, will support every stage of the employee lifecycle, from hiring and onboarding to payroll, career advancement, and retirement. It will improve the user experience for NHS employees by providing simple, AI-powered tools for workforce planning and decision-making. According to NHSBSA CEO Michael Brodie, implementing the new management system is essential to advancing the goals of the 10-Year Health Plan.
The solution will be a strategic facilitator for creating a workforce that is prepared for the future, going far beyond simply replacing ESR. The company said that the new platform, which is driven by AI and cutting-edge technologies, will support every stage of the employee lifecycle, from hiring and onboarding to payroll, career advancement, and retirement. It will improve the user experience for NHS employees by providing simple, AI-powered tools for workforce planning and decision-making.
Additionally, the solution will guarantee smooth connection with other NHS systems, improve operational efficiency throughout the company, and enable staff to handle their personal data more effectively.
Quick Shots
•Infosys
will build Future NHS Personnel Solution, a data-driven workforce management
system.
•The
new project will replace the existing Electronic Staff Record (ESR) system.
•Infosys
will manage payroll for 1.9 million NHS employees in England and Wales (~£55 billion annual payments).
