Thyrocare Technologies Ltd (THYROCARE) AI Stock Analysis

• Market Cap: ₹67.55B
• Dividend Yield: 1.69%
• Average Volume (3M): 31.27K
• Price to Earnings (P/E): 52.9
• Beta (1Y): 0.46
• Revenue Growth: 22.36%
• EPS Growth: 52.01%
• Country: IN
• Employees: 1,693
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): 9.10
• Shares Outstanding: 52,994,446
• 10 Day Avg. Volume: 78,946
• 30 Day Avg. Volume: 31,266
• PEG Ratio: 1.46
• Price to Book (P/B): 7.05
• Price to Sales (P/S): 5.61
• P/FCF Ratio: 26.33
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,391.50
• Price Target Upside: 11.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 69 Neutral
• Price Target: ₹1,323.00 ▲(6.33% Upside)

Thyrocare Technologies Ltd demonstrates strong financial performance, which is the most significant factor contributing to its overall score. However, the technical analysis indicates some short-term market weakness, and the high P/E ratio suggests potential overvaluation. These factors collectively result in a moderate overall stock score.

Thyrocare Technologies Ltd Business Overview & Revenue Model

Company Description

Thyrocare Technologies Limited provides diagnostic testing services to patients, laboratories, and hospitals in India. It operates in three segments: Diagnostic Testing Services, Imaging Services, and Others. The company conducts various medical diagnostic tests and profiles of tests that focuses on early detection and management of disorders and diseases, including thyroid, growth, metabolism, auto-immunity, diabetes, anaemia, cardiovascular, infertility, COVID, and various infectious diseases. Its profiles of tests include 34 profiles of tests administered under its Aarogyam brand, which offers patients a suite of wellness and preventive health care tests. The company also sells glucometer and glucostrips under the brand name Sugarscan; consumables; and radiopharmaceutical. Thyrocare Technologies Limited was founded in 1996 and is based in Navi Mumbai, India. Thyrocare Technologies Limited is a subsidiary of Docon Technologies Private Limited.

How the Company Makes Money

Thyrocare Technologies Ltd generates revenue primarily through its diagnostic and testing services. The company operates on a B2B2C model, catering to individual customers through its network of collection centers and also serving hospitals, clinics, and other healthcare providers. Key revenue streams include pathology and radiology testing services, wellness packages, and preventive healthcare screenings. Thyrocare has established partnerships with various healthcare providers to expand its reach and offers competitive pricing to attract and retain customers. These collaborations, along with its focus on high-volume, low-cost testing, enable Thyrocare to maintain a steady flow of income.

Thyrocare Technologies Ltd Financial Statement Overview

Summary

Thyrocare Technologies Ltd exhibits strong financial health with consistent revenue growth, solid profitability margins, and a stable balance sheet. The company effectively manages its cash flows, ensuring operational efficiency and strategic investments. While there are areas for improvement, such as optimizing operational costs and managing capital expenditures, the overall financial outlook is positive, supporting future growth and stability.

Income Statement

Thyrocare Technologies Ltd has demonstrated strong revenue growth with a significant increase from 2024 to 2025, indicating robust market positioning. The gross profit margin has improved, reflecting efficient cost management. However, the net profit margin has seen a slight decrease, suggesting increased operational costs or financial expenses. Overall, the income statement shows a healthy trajectory with some areas for cost optimization.

Balance Sheet

The company maintains a solid equity base with an improving equity ratio, indicating financial stability. The debt-to-equity ratio is low, which minimizes financial risk, although there is a small increase in total debt. Return on equity remains strong, highlighting effective use of shareholder funds. The balance sheet reflects a stable financial structure with room for leveraging growth opportunities.

Cash Flow

Operating cash flow has increased, supporting operational sustainability. The free cash flow growth rate is positive, indicating effective capital management. The operating cash flow to net income ratio suggests high-quality earnings. However, capital expenditure remains significant, which may impact future liquidity if not managed carefully. Overall, cash flow statements show a healthy cash position with strategic investments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.23B	6.87B	5.72B	5.27B	5.89B	4.95B
Gross Profit	5.62B	4.96B	1.81B	3.63B	4.19B	3.31B
EBITDA	2.21B	2.05B	1.48B	1.31B	2.64B	1.84B
Net Income	1.06B	915.10M	707.60M	644.90M	1.76B	1.13B
Balance Sheet
Total Assets	0.00	6.93B	6.44B	6.33B	6.08B	5.46B
Cash, Cash Equivalents and Short-Term Investments	1.55B	1.92B	1.77B	1.51B	1.39B	1.18B
Total Debt	0.00	246.80M	423.40M	233.10M	207.00M	84.90M
Total Liabilities	-5.47B	1.46B	1.16B	975.00M	810.90M	1.19B
Stockholders Equity	5.47B	5.47B	5.27B	5.34B	5.27B	4.27B
Cash Flow
Free Cash Flow	0.00	1.46B	1.06B	856.60M	755.80M	877.70M
Operating Cash Flow	0.00	1.91B	1.68B	1.29B	1.13B	1.16B
Investing Cash Flow	0.00	-525.20M	-912.80M	-389.90M	-235.70M	-502.30M
Financing Cash Flow	0.00	-1.30B	-848.00M	-861.80M	-894.10M	-615.70M

Thyrocare Technologies Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1244.20
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:THYROCARE, the sentiment is Positive. The current price of 1244.2 is above the 20-day moving average (MA) of 1212.04, below the 50-day MA of 1265.62, and above the 200-day MA of 982.94, indicating a neutral trend. The MACD of 4.41 indicates Negative momentum. The RSI at 51.93 is Neutral, neither overbought nor oversold. The STOCH value of 28.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:THYROCARE.

Thyrocare Technologies Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
THYROCARE	69 Neutral	₹67.55B	52.88	―	1.69%	22.36%	52.01%
VIJAYA	67 Neutral	₹102.99B	68.56	―	0.20%	22.34%	20.71%
MOREPENLAB	67 Neutral	₹26.58B	28.47	―	0.42%	2.12%	-25.99%
KRSNAA	62 Neutral	₹26.45B	32.84	―	0.33%	13.78%	32.21%
METROPOLIS	61 Neutral	₹100.75B	65.79	―	0.71%	12.86%	10.42%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%