Thyrocare Technologies Limited , a leading diagnostics company, has reported strong financial results for the second quarter of fiscal year 2026, along with announcing significant corporate actions to reward shareholders.

Financial Performance

Thyrocare posted a consolidated revenue of INR 217.00 crores for Q2 FY26, marking a robust 22% year-on-year growth. The company's core pathology business grew by 24% year-on-year, while its partnerships business expanded by 35%.

Key operational highlights for the quarter include:

• Processed 53.3 million tests, up 21% year-on-year
• Served 5 million patients, a 12% increase
• Standalone normalized EBITDA margin improved to 36%, up 470 basis points year-on-year

Corporate Actions

In a move to reward shareholders, Thyrocare's Board of Directors has approved two significant actions:

1. A 2:1 bonus share issue, subject to regulatory approvals
2. Declaration of an interim dividend of INR 7.00 per equity share

The record date for the interim dividend payout is set for October 24, 2025.

Business Expansion and Quality Improvements

Thyrocare reported significant growth in its franchise network:

• Active quarterly franchisees increased to 10,100 from 8,446 in the same quarter last year
• The company now operates 37 labs in India and 1 in Tanzania
• The Tanzania business grew 30% quarter-on-quarter

The company has also made strides in improving its service quality:

• Achieved Six Sigma quality levels, reducing complaints from 11.8% to 3.8%
• Improved turnaround time to an average of 3.52 hours after samples reach the lab

Segment Performance

• Aarogyam, Thyrocare's flagship preventive healthcare brand, grew by 19% year-on-year
• Jaanch, catering to lifestyle and chronic health needs, saw a 31% year-on-year growth

Management Commentary

Rahul Guha, MD and CEO of Thyrocare, stated, "Our consistent performance over the years is underscored by this bonus issue. It's important to note that our non-COVID growth over the last 4 years has been 19% CAGR. This reflects our confidence in the company's future growth strategy and reaffirms our commitment to reward our shareholders and investors."

Future Outlook

While the company has shown strong growth, management remains cautious about providing specific guidance for the upcoming quarters due to seasonal variations and potential market dynamics. However, the expansion of franchisees, improvements in quality standards, and growth in key segments suggest a positive trajectory for Thyrocare Technologies.

Investors and analysts will be closely watching how Thyrocare capitalizes on its current momentum and navigates the evolving diagnostics landscape in India and its international operations.

Note: All financial figures are in Indian Rupees (INR).

Thyrocare Technologies Limited , a leading diagnostics company, has announced a significant corporate action that includes a bonus share issue and an increase in authorized share capital. The company's board has approved these measures, which are now subject to shareholder approval through a postal ballot.

Key Highlights

• Bonus Share Issue: Thyrocare proposes a 2:1 bonus share issue, where shareholders will receive two new fully paid-up equity shares for every one existing share held.
• Increase in Authorized Share Capital: The company plans to increase its authorized share capital from Rs. 100 crores to Rs. 300 crores.
• Capitalization of Reserves: Approximately Rs. 106.11 crores will be capitalized from the company's reserves for the bonus issue.
• Articles of Association: The company seeks approval to alter its Articles of Association to accommodate these changes.

Bonus Share Issue Details

Thyrocare's board has recommended a bonus issue in the ratio of 2:1, subject to shareholder approval. This means that for every one existing fully paid-up equity share of Rs. 10 each, shareholders will receive two new fully paid-up equity shares of Rs. 10 each. This move is described as a gesture of appreciation to shareholders during the company's Silver Jubilee year and coincides with Diwali celebrations.

Increase in Authorized Share Capital

To facilitate the bonus issue and future requirements, Thyrocare proposes to increase its authorized share capital as follows:

This increase will be achieved by creating an additional 20 crore equity shares of Rs. 10 each.

Postal Ballot and E-voting Details

Shareholders will vote on these proposals through a postal ballot. The key dates for the e-voting process are:

• E-voting Start Date: October 18, 2025
• E-voting End Date: November 16, 2025
• Results Declaration: By November 18, 2025

Impact on Employee Stock Options

The company has stated that appropriate adjustments will be made to the exercise price and/or the number of shares to be issued against employee stock options. This is to ensure that the total value of the employee stock options remains unchanged after the bonus issuance.

Conclusion

Thyrocare Technologies' proposed bonus issue and capital increase reflect the company's financial position and its commitment to rewarding shareholders. These corporate actions, if approved, may enhance the liquidity of the company's shares in the stock market and potentially benefit long-term shareholders.

Investors and shareholders are advised to carefully review the postal ballot notice and cast their votes accordingly. The implementation of these proposals is subject to obtaining necessary regulatory approvals and shareholder consent.