Thyrocare Technologies , a leading diagnostic company, saw its shares surge 16% to Rs 1,470 on Tuesday, reaching a fresh 52-week high following the announcement of robust Q2 results. The company's performance was marked by significant growth across key financial metrics and strategic initiatives.

Financial Highlights

Thyrocare reported an impressive 82% year-on-year growth in profit after tax, which stood at Rs 47.90 crore for the quarter. The company's revenue increased by 22% to Rs 216.53 crore, while normalized EBITDA rose 49% to Rs 75.36 crore.

Key financial metrics for Q2:

The company maintained steady margins, with EBITDA margin at 35% and gross margin at 72%.

Operational Performance

Thyrocare's growth was primarily driven by a 24% increase in the Pathology segment. The company's franchise revenue grew by 20%, while partnership revenue surged by 35% year-on-year. During the quarter, Thyrocare processed 53.3 million tests, marking a substantial 21% increase compared to the same period last year.

Network Expansion

As part of its growth strategy, Thyrocare expanded its network by adding four new laboratories in Vijayawada, Bhagalpur, Roorkee, and Kashmir during H1. This expansion is expected to enhance the company's regional presence and improve service accessibility.

Bonus Share Issue and Dividend

In a move to reward shareholders, Thyrocare's Board of Directors has approved and recommended a bonus issue of shares in the ratio of 2:1, subject to shareholder and regulatory approvals. This means shareholders will receive two new fully paid-up equity shares for every one share held.

Additionally, the Board declared an interim dividend of Rs 7 per equity share (face value Rs 10). The record date for determining shareholder eligibility for the interim dividend is set for October 24.

Management Commentary

Rahul Guha, Managing Director of Thyrocare Technologies, commented on the results: "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."

Financial Position

Thyrocare continues to maintain a strong balance sheet, remaining debt-free on a consolidated basis. The company reported net cash and short-term investments exceeding Rs 190 crore as of September 30.

Outlook

With its strong financial performance, network expansion, and shareholder-friendly initiatives, Thyrocare Technologies appears well-positioned for continued growth in the diagnostic services sector. The company's focus on deepening its presence in underserved regions and scaling its franchise and partner channels is likely to drive future growth.

Investors and analysts will be watching closely to see if Thyrocare can maintain this growth momentum in the coming quarters, especially given the competitive landscape in the diagnostic services industry.

Thyrocare Technologies Limited has reported robust financial results for the second quarter, accompanied by announcements of a bonus share issue and interim dividend.

Financial Performance

The diagnostic services provider posted a consolidated revenue of Rs 216.53 crore for Q2, marking a 22% year-on-year growth. The company's normalized EBITDA surged by 49% to Rs 75.36 crore, while profit after tax (PAT) jumped 82% to Rs 47.90 crore compared to the same quarter last year.

Key financial highlights for Q2:

The pathology segment, which forms the core of Thyrocare's business, grew by 24% year-on-year. Within this, franchise revenue increased by 20%, while partnership revenue saw a robust 35% growth.

Operational Highlights

Thyrocare processed 53.3 million tests during the quarter, up 21% from the previous year, reinforcing its position as India's largest diagnostic test volume processor. The company's active franchisee count stood at over 10,100, representing a 20% increase year-on-year.

Bonus Shares and Dividend

Celebrating its silver jubilee, Thyrocare's Board of Directors has approved and recommended a bonus issue of shares in the ratio of 2:1. This means shareholders will receive two new fully paid-up equity shares for every one share held.

Additionally, the Board declared an interim dividend of Rs 7 per equity share (70% of face value). The record date for dividend eligibility is set for October 24.

Management Commentary

Rahul Guha, Managing Director of Thyrocare Technologies, stated, "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."

Future Outlook

Thyrocare continues to expand its presence across India, having added four new laboratories in Vijayawada, Bhagalpur, Roorkee, and Kashmir during the first half. The company remains committed to deepening its presence in underserved regions and scaling its franchise and partner channels.

With a strong balance sheet, including net cash and short-term investments exceeding Rs 190 crore, Thyrocare is well-positioned for future growth and expansion in the competitive diagnostics market.

Investors and analysts will be keenly watching how Thyrocare leverages its strong Q2 performance and strategic initiatives to drive sustained growth in the coming quarters.