Thyrocare Technologies Ltd reported a strong financial performance in Q2 FY27, with consolidated revenue increasing 25.1 per cent year-on-year (YoY) to Rs 270.8 crore, driven by sustained growth in its Pathology business. The company also reported a 24.9 per cent rise in EBITDA to Rs 89.3 crore and a 25.7 per cent increase in profit after tax (PAT) before exceptional items to Rs 60.2 crore.
Commenting on the performance, Rahul Guha, Managing Director and CEO, Thyrocare Technologies Ltd, said, “Thyrocare reported a strong performance this quarter, driven by continued focus on operational efficiency, network expansion, and value-driven diagnostics. During the period, we also strengthened our specialty portfolio with the addition of allergy testing and entry into genomics through the launch of NIPT, with a phased expansion of the test menu underway.”
During the quarter, Thyrocare processed 61.6 million diagnostic tests, registering 27.4 per cent YoY growth. Its Pathology segment grew 26.7 per cent, with franchise revenue increasing 26.9 per cent and partnership revenue rising 27.9 per cent.
The company continued to focus on quality and operational efficiency, reporting Six Sigma-level performance. Customer complaints declined 24 per cent YoY to 2.9 per million, while the average turnaround time (ATAT) stood at 3.49 hours from sample receipt.
Thyrocare also continued to expand its specialty diagnostics portfolio, building on its offerings in allergy testing and genomics. The company recently entered the genomics segment with the launch of non-invasive prenatal testing (NIPT) and is progressively expanding its specialty test menu, with an emphasis on scientific rigour, quality and turnaround times.
In the consumer diagnostics segment, Thyrocare launched a Pregnancy Test Kit, a rapid home-testing solution that provides results in five minutes. The company said it is the first kit in India backed by a confirmatory laboratory test. Actress Yami Gautam has been onboarded as brand ambassador to support consumer awareness and outreach. The product has been launched with the support of API Holdings group company Ascent and is available at more than 10,000 chemists.
The company also reported a strategic move to divest its Nuclear Imaging business. Thyrocare has issued a postal ballot seeking shareholders’ approval for the proposed divestment. In connection with the definitive term sheet for the proposed sale of the NHL business, it recognised a one-time, non-cash impairment charge of Rs 45 crore as an exceptional item in its consolidated financial statements. The company clarified that the charge does not affect its operational performance.
The proposed divestment is intended to enable Thyrocare to sharpen its focus and allocate capital towards its Pathology business, which the company views as offering stronger growth prospects, higher margins and better return on capital employed.
Guha added that Thyrocare is expanding its presence in underserved regions and scaling its franchise and partner network while continuing to provide affordable diagnostic services. He also highlighted the company's planned foray into point-of-care devices, expressing the ambition to establish a presence across major chemist outlets.
