Thyrocare Technologies Ltd.
•₹ 565.55-0.2%
2026-08-21
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 28.1%
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 34.1% YoY, showing strong momentum
- Operating margins have improved to 29.7% from 24.9%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.74x)
CONS
- Promoter holding has decreased over last 2 years: -10.2pp
- Stock is trading at 9.6x its book value
- Company has delivered a poor profit growth of 7.6% over past five years
- Valuation is stretched - P/E of 52.5 is well above its own 5-year median (34.1)
- Dividend payout exceeds earnings (136.4%) - may be unsustainable
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | APOLLOHOSP | 8799.00 | 60.55 | 126516.12 | 0.23 | 610.40 | 38.41 | 7043.50 | 20.56 | 21.73 | 15.70 |
| 2. | MANIPALHOS | 744.55 | 109.75 | 97936.41 | 0.00 | — | — | — | — | 13.93 | — |
| 3. | MAXHEALTH | 996.45 | 66.57 | 96982.14 | 0.20 | 322.96 | 4.87 | 2366.17 | 16.70 | 14.97 | 25.29 |
| 4. | ASTERDM | 800.70 | 219.01 | 69794.81 | 0.00 | 29.28 | -68.70 | 1310.68 | 21.60 | 11.46 | 19.53 |
| 5. | FORTIS | 910.80 | 65.62 | 68761.59 | 0.11 | 272.80 | 2.26 | 2545.03 | 17.46 | 14.07 | 21.28 |
| 6. | MEDANTA | 1419.05 | 68.60 | 38154.25 | 0.04 | 157.25 | -1.09 | 1304.05 | 26.50 | 20.50 | 21.99 |
| 7. | NH | 1782.70 | 44.64 | 36431.40 | 0.25 | 207.27 | 5.37 | 2683.63 | 78.05 | 16.20 | 17.43 |
| 8. | KIMS | 788.60 | 162.12 | 33121.71 | 0.00 | 37.40 | -56.00 | 1179.50 | 35.33 | 11.51 | 19.03 |
| 9. | LALPATHLAB | 1886.80 | 58.44 | 31669.72 | 1.09 | 1705.00 | 1172.39 | 7977.00 | 1090.95 | 29.56 | 31.03 |
| 10. | AGARWALEYE | 499.70 | 106.77 | 15841.80 | 0.00 | 55.02 | 44.56 | 614.02 | 25.97 | 14.32 | 27.75 |
| 11. | VIJAYA | 1489.70 | 81.84 | 15343.57 | 0.13 | 53.10 | 37.61 | 230.98 | 22.83 | 30.27 | 42.66 |
| 12. | THYROCARE | 582.00 | 52.54 | 9263.42 | 2.41 | 513.30 | 1240.56 | 2400.20 | 1143.43 | 38.30 | 32.49 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 135 | 148 | 135 | 154 | 157 | 177 | 166 | 187 | 193 | 217 | 196 | 224 | 2,400 | |
| 100 | 110 | 103 | 120 | 114 | 129 | 124 | 129 | 135 | 145 | 138 | 149 | 1,766 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 1 | 2 | 3 | 3 | 4 | 3 | 4 | 5 | 5 | 3 | 5 | 4 | 42 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | -0 | 2 | 14 |
| Depreciation | 10 | 11 | 13 | 13 | 11 | 13 | 17 | 14 | 11 | 12 | 22 | 14 | 125 |
| 25 | 28 | 20 | 23 | 34 | 37 | 28 | 48 | 50 | 62 | 35 | 64 | 683 | |
| Tax % | 30.87% | 28.45% | 26.14% | 24.74% | 28.34% | 27.95% | 31.94% | 53.58% | 24.27% | 23.71% | 20.91% | 24.64% | 24.84% |
| Net Profit | 0 | 0 | 0 | 0 | 24 | 26 | 19 | 22 | 38 | 48 | 28 | 49 | 513 |
| 3 | 4 | 3 | 4 | 5 | 5 | 1 | 1 | 7 | 9 | 2 | 3 | 3 | |
| Equity Capital | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 159 | 159 | 1,592 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 159 | 159 | 1,592 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 135
- 100
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 10
- 25
- Tax %
- 30.87%
- Net Profit
- 0
- 3
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 148
- 110
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 1
- Depreciation
- 11
- 28
- Tax %
- 28.45%
- Net Profit
- 0
- 4
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 135
- 103
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 13
- 20
- Tax %
- 26.14%
- Net Profit
- 0
- 3
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 154
- 120
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 13
- 23
- Tax %
- 24.74%
- Net Profit
- 0
- 4
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 157
- 114
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 1
- Depreciation
- 11
- 34
- Tax %
- 28.34%
- Net Profit
- 24
- 5
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 177
- 129
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 13
- 37
- Tax %
- 27.95%
- Net Profit
- 26
- 5
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 166
- 124
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 1
- Depreciation
- 17
- 28
- Tax %
- 31.94%
- Net Profit
- 19
- 1
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 187
- 129
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 1
- Depreciation
- 14
- 48
- Tax %
- 53.58%
- Net Profit
- 22
- 1
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 193
- 135
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 1
- Depreciation
- 11
- 50
- Tax %
- 24.27%
- Net Profit
- 38
- 7
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 217
- 145
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 1
- Depreciation
- 12
- 62
- Tax %
- 23.71%
- Net Profit
- 48
- 9
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 53
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 196
- 138
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- -0
- Depreciation
- 22
- 35
- Tax %
- 20.91%
- Net Profit
- 28
- 2
- Equity Capital
- 159
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 159
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 224
- 149
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 2
- Depreciation
- 14
- 64
- Tax %
- 24.64%
- Net Profit
- 49
- 3
- Equity Capital
- 159
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 159
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 2,400
- 1,766
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 14
- Depreciation
- 125
- 683
- Tax %
- 24.84%
- Net Profit
- 513
- 3
- Equity Capital
- 1,592
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 1,592
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 304 | 356 | 403 | 434 | 495 | 589 | 527 | 572 | 687 | 829 | 3,036 | |
| 189 | 212 | 249 | 261 | 323 | 353 | 404 | 433 | 497 | 583 | 2,198 | |
| Operating Profit | 128 | 168 | 164 | 180 | 184 | 265 | 131 | 148 | 206 | 280 | — |
| OPM % | 42 | 47 | 41 | 42 | 37 | 45 | 25 | 26 | 30 | 34 | — |
| Other Income | 12 | 23 | 10 | 7 | 12 | 29 | 8 | 9 | 15 | 34 | 54 |
| Interest | 0 | 0 | 1 | 2 | 1 | 3 | 5 | 6 | 4 | 4 | 16 |
| Depreciation | 18 | 20 | 26 | 32 | 30 | 34 | 39 | 47 | 55 | 59 | 172 |
| 82 | 145 | 138 | 140 | 152 | 228 | 89 | 96 | 145 | 213 | 844 | |
| Tax % | 48 | 36 | 38 | 37 | 26 | 23 | 27 | 28 | 38 | 24 | 25 |
| Net Profit | 43 | 93 | 85 | 88 | 113 | 176 | 64 | 69 | 91 | 163 | 637 |
| EPS | 8 | 17 | 16 | 17 | 21 | 33 | 12 | 13 | 17 | 10 | — |
| Dividend Payout % | 125 | 57 | 124 | 30 | 118 | 45 | 144 | 134 | 123 | 136 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | -9 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 |
| Adjusted EPS | 3 | 6 | 5 | 6 | 7 | 11 | 4 | 4 | 6 | 10 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | -9 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 |
| Adjusted EPS | 3 | 6 | 5 | 6 | 7 | 11 | 4 | 4 | 6 | 10 | — |
Mar 2017
- 304
- 189
- Operating Profit
- 128
- OPM %
- 42
- Other Income
- 12
- Interest
- 0
- Depreciation
- 18
- 82
- Tax %
- 48
- Net Profit
- 43
- EPS
- 8
- Dividend Payout %
- 125
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2018
- 356
- 212
- Operating Profit
- 168
- OPM %
- 47
- Other Income
- 23
- Interest
- 0
- Depreciation
- 20
- 145
- Tax %
- 36
- Net Profit
- 93
- EPS
- 17
- Dividend Payout %
- 57
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2019
- 403
- 249
- Operating Profit
- 164
- OPM %
- 41
- Other Income
- 10
- Interest
- 1
- Depreciation
- 26
- 138
- Tax %
- 38
- Net Profit
- 85
- EPS
- 16
- Dividend Payout %
- 124
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2020
- 434
- 261
- Operating Profit
- 180
- OPM %
- 42
- Other Income
- 7
- Interest
- 2
- Depreciation
- 32
- 140
- Tax %
- 37
- Net Profit
- 88
- EPS
- 17
- Dividend Payout %
- 30
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2021
- 495
- 323
- Operating Profit
- 184
- OPM %
- 37
- Other Income
- 12
- Interest
- 1
- Depreciation
- 30
- 152
- Tax %
- 26
- Net Profit
- 113
- EPS
- 21
- Dividend Payout %
- 118
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2022
- 589
- 353
- Operating Profit
- 265
- OPM %
- 45
- Other Income
- 29
- Interest
- 3
- Depreciation
- 34
- 228
- Tax %
- 23
- Net Profit
- 176
- EPS
- 33
- Dividend Payout %
- 45
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
Mar 2023
- 527
- 404
- Operating Profit
- 131
- OPM %
- 25
- Other Income
- 8
- Interest
- 5
- Depreciation
- 39
- 89
- Tax %
- 27
- Net Profit
- 64
- EPS
- 12
- Dividend Payout %
- 144
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2024
- 572
- 433
- Operating Profit
- 148
- OPM %
- 26
- Other Income
- 9
- Interest
- 6
- Depreciation
- 47
- 96
- Tax %
- 28
- Net Profit
- 69
- EPS
- 13
- Dividend Payout %
- 134
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2025
- 687
- 497
- Operating Profit
- 206
- OPM %
- 30
- Other Income
- 15
- Interest
- 4
- Depreciation
- 55
- 145
- Tax %
- 38
- Net Profit
- 91
- EPS
- 17
- Dividend Payout %
- 123
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2026
- 829
- 583
- Operating Profit
- 280
- OPM %
- 34
- Other Income
- 34
- Interest
- 4
- Depreciation
- 59
- 213
- Tax %
- 24
- Net Profit
- 163
- EPS
- 10
- Dividend Payout %
- 136
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 10
TTM
- 3,036
- 2,198
- Operating Profit
- —
- OPM %
- —
- Other Income
- 54
- Interest
- 16
- Depreciation
- 172
- 844
- Tax %
- 25
- Net Profit
- 637
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -9
- Share of Associates
- 8
- Adjusted EPS
- —
- Minority Interest
- -9
- Share of Associates
- 8
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 11%
- 3 Years:
- 16%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 12%
- 5 Years:
- 8%
- 3 Years:
- 35%
STOCK PRICE CAGR
- 10 Years:
- 12%
- 5 Years:
- 6%
- 3 Years:
- 48%
- 1 Year:
- 27%
RETURN ON EQUITY
- 10 Years:
- 21%
- 5 Years:
- 22%
- 3 Years:
- 20%
- Last Year:
- 29%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 54 | 54 | 53 | 53 | 53 | 53 | 53 | 53 | 53 | 159 |
| 349 | 387 | 378 | 310 | 371 | 470 | 477 | 469 | 489 | 420 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | |
| Trade Payables | 1 | 7 | 8 | 22 | 25 | 17 | 24 | 40 | 76 | 65 |
| 30 | 27 | 31 | 84 | 91 | 308 | 207 | 65 | 113 | 145 | |
| Total Liabilities | 434 | 474 | 470 | 469 | 540 | 848 | 761 | 629 | 732 | 789 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 259 | 299 | 294 | 269 | 253 | 285 | 294 | 306 | 297 | 317 | |
| Capital Work in Progress | 17 | 0 | 1 | 5 | 8 | 3 | 2 | 3 | 14 | 3 |
| 104 | 120 | 95 | 90 | 126 | 146 | 144 | 162 | 162 | 177 | |
| 14 | 17 | 18 | 21 | 23 | 25 | 28 | 48 | 47 | 48 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 43 | 73 | 74 | |
| Cash & Bank | 12 | 12 | 10 | 11 | 16 | 14 | 28 | 40 | 54 | 68 |
| 27 | 26 | 51 | 73 | 114 | 375 | 265 | 27 | 85 | 101 | |
| Total Assets | 434 | 474 | 470 | 469 | 540 | 848 | 761 | 629 | 732 | 789 |
| Total Debt | 7 | 0 | 2 | 2 | 0 | 0 | 0 | 22 | 0 | 0 |
| Net Working Capital | 132 | 122 | 97 | 39 | 105 | 206 | 196 | 188 | 216 | 262 |
| Contingent Liabilities | 47 | 50 | 41 | 54 | 51 | 2 | 2 | 1 | 2 | 2 |
| Book Value per Share | 75.02 | 81.99 | 81.69 | 68.68 | 80.26 | 98.89 | 100.09 | 98.67 | 102.36 | 36.36 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 7 | 0 | 2 | 2 | 0 | 0 | 0 | 22 | 0 | 0 |
| Net Working Capital | 132 | 122 | 97 | 39 | 105 | 206 | 196 | 188 | 216 | 262 |
| Contingent Liabilities | 47 | 50 | 41 | 54 | 51 | 2 | 2 | 1 | 2 | 2 |
| Book Value per Share | 75.02 | 81.99 | 81.69 | 68.68 | 80.26 | 98.89 | 100.09 | 98.67 | 102.36 | 36.36 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 54
- 349
- 0
- Trade Payables
- 1
- 30
- Total Liabilities
- 434
- 259
- Capital Work in Progress
- 17
- 104
- 14
- 0
- Cash & Bank
- 12
- 27
- Total Assets
- 434
- Total Debt
- 7
- Net Working Capital
- 132
- Contingent Liabilities
- 47
- Book Value per Share
- 75.02
- Face Value
- 10.00
- Total Debt
- 7
- Net Working Capital
- 132
- Contingent Liabilities
- 47
- Book Value per Share
- 75.02
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 54
- 387
- 0
- Trade Payables
- 7
- 27
- Total Liabilities
- 474
- 299
- Capital Work in Progress
- 0
- 120
- 17
- 0
- Cash & Bank
- 12
- 26
- Total Assets
- 474
- Total Debt
- 0
- Net Working Capital
- 122
- Contingent Liabilities
- 50
- Book Value per Share
- 81.99
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 122
- Contingent Liabilities
- 50
- Book Value per Share
- 81.99
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 53
- 378
- 0
- Trade Payables
- 8
- 31
- Total Liabilities
- 470
- 294
- Capital Work in Progress
- 1
- 95
- 18
- 0
- Cash & Bank
- 10
- 51
- Total Assets
- 470
- Total Debt
- 2
- Net Working Capital
- 97
- Contingent Liabilities
- 41
- Book Value per Share
- 81.69
- Face Value
- 10.00
- Total Debt
- 2
- Net Working Capital
- 97
- Contingent Liabilities
- 41
- Book Value per Share
- 81.69
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 53
- 310
- 0
- Trade Payables
- 22
- 84
- Total Liabilities
- 469
- 269
- Capital Work in Progress
- 5
- 90
- 21
- 0
- Cash & Bank
- 11
- 73
- Total Assets
- 469
- Total Debt
- 2
- Net Working Capital
- 39
- Contingent Liabilities
- 54
- Book Value per Share
- 68.68
- Face Value
- 10.00
- Total Debt
- 2
- Net Working Capital
- 39
- Contingent Liabilities
- 54
- Book Value per Share
- 68.68
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 53
- 371
- 0
- Trade Payables
- 25
- 91
- Total Liabilities
- 540
- 253
- Capital Work in Progress
- 8
- 126
- 23
- 0
- Cash & Bank
- 16
- 114
- Total Assets
- 540
- Total Debt
- 0
- Net Working Capital
- 105
- Contingent Liabilities
- 51
- Book Value per Share
- 80.26
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 105
- Contingent Liabilities
- 51
- Book Value per Share
- 80.26
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 53
- 470
- 0
- Trade Payables
- 17
- 308
- Total Liabilities
- 848
- 285
- Capital Work in Progress
- 3
- 146
- 25
- 0
- Cash & Bank
- 14
- 375
- Total Assets
- 848
- Total Debt
- 0
- Net Working Capital
- 206
- Contingent Liabilities
- 2
- Book Value per Share
- 98.89
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 206
- Contingent Liabilities
- 2
- Book Value per Share
- 98.89
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 53
- 477
- 0
- Trade Payables
- 24
- 207
- Total Liabilities
- 761
- 294
- Capital Work in Progress
- 2
- 144
- 28
- 0
- Cash & Bank
- 28
- 265
- Total Assets
- 761
- Total Debt
- 0
- Net Working Capital
- 196
- Contingent Liabilities
- 2
- Book Value per Share
- 100.09
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 196
- Contingent Liabilities
- 2
- Book Value per Share
- 100.09
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 53
- 469
- 2
- Trade Payables
- 40
- 65
- Total Liabilities
- 629
- 306
- Capital Work in Progress
- 3
- 162
- 48
- 43
- Cash & Bank
- 40
- 27
- Total Assets
- 629
- Total Debt
- 22
- Net Working Capital
- 188
- Contingent Liabilities
- 1
- Book Value per Share
- 98.67
- Face Value
- 10.00
- Total Debt
- 22
- Net Working Capital
- 188
- Contingent Liabilities
- 1
- Book Value per Share
- 98.67
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 53
- 489
- 0
- Trade Payables
- 76
- 113
- Total Liabilities
- 732
- 297
- Capital Work in Progress
- 14
- 162
- 47
- 73
- Cash & Bank
- 54
- 85
- Total Assets
- 732
- Total Debt
- 0
- Net Working Capital
- 216
- Contingent Liabilities
- 2
- Book Value per Share
- 102.36
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 216
- Contingent Liabilities
- 2
- Book Value per Share
- 102.36
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 159
- 420
- 0
- Trade Payables
- 65
- 145
- Total Liabilities
- 789
- 317
- Capital Work in Progress
- 3
- 177
- 48
- 74
- Cash & Bank
- 68
- 101
- Total Assets
- 789
- Total Debt
- 0
- Net Working Capital
- 262
- Contingent Liabilities
- 2
- Book Value per Share
- 36.36
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 262
- Contingent Liabilities
- 2
- Book Value per Share
- 36.36
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 90 | 107 | 100 | 168 | 115 | 113 | 129 | 168 | 180 | 213 | |
| Cash from Investing | -42 | -43 | -12 | 1 | -49 | -24 | -39 | -91 | -41 | -23 |
| Cash from Financing | -49 | -64 | -94 | -165 | -62 | -89 | -86 | -85 | -130 | -170 |
| -0 | -0 | -5 | 4 | 4 | 0 | 4 | -8 | 8 | 21 | |
| Free Cash Flow | 90 | 65 | 79 | 161 | 105 | 62 | 92 | 127 | 127 | 166 |
| OCF / Net Profit | 2.09 | 1.15 | 1.18 | 1.90 | 1.01 | 0.64 | 2.01 | 2.41 | 1.98 | 1.31 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 499 | 472 | 499 | 546 | 512 | 574 |
| OCF / Net Profit | 2.09 | 1.15 | 1.18 | 1.90 | 1.01 | 0.64 | 2.01 | 2.41 | 1.98 | 1.31 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 499 | 472 | 499 | 546 | 512 | 574 |
Mar 2017
- 90
- Cash from Investing
- -42
- Cash from Financing
- -49
- -0
- Free Cash Flow
- 90
- OCF / Net Profit
- 2.09
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.09
- Cumulative 5-Year FCF
- 0
Mar 2018
- 107
- Cash from Investing
- -43
- Cash from Financing
- -64
- -0
- Free Cash Flow
- 65
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- 0
Mar 2019
- 100
- Cash from Investing
- -12
- Cash from Financing
- -94
- -5
- Free Cash Flow
- 79
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 0
Mar 2020
- 168
- Cash from Investing
- 1
- Cash from Financing
- -165
- 4
- Free Cash Flow
- 161
- OCF / Net Profit
- 1.90
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.90
- Cumulative 5-Year FCF
- 0
Mar 2021
- 115
- Cash from Investing
- -49
- Cash from Financing
- -62
- 4
- Free Cash Flow
- 105
- OCF / Net Profit
- 1.01
- Cumulative 5-Year FCF
- 499
- OCF / Net Profit
- 1.01
- Cumulative 5-Year FCF
- 499
Mar 2022
- 113
- Cash from Investing
- -24
- Cash from Financing
- -89
- 0
- Free Cash Flow
- 62
- OCF / Net Profit
- 0.64
- Cumulative 5-Year FCF
- 472
- OCF / Net Profit
- 0.64
- Cumulative 5-Year FCF
- 472
Mar 2023
- 129
- Cash from Investing
- -39
- Cash from Financing
- -86
- 4
- Free Cash Flow
- 92
- OCF / Net Profit
- 2.01
- Cumulative 5-Year FCF
- 499
- OCF / Net Profit
- 2.01
- Cumulative 5-Year FCF
- 499
Mar 2024
- 168
- Cash from Investing
- -91
- Cash from Financing
- -85
- -8
- Free Cash Flow
- 127
- OCF / Net Profit
- 2.41
- Cumulative 5-Year FCF
- 546
- OCF / Net Profit
- 2.41
- Cumulative 5-Year FCF
- 546
Mar 2025
- 180
- Cash from Investing
- -41
- Cash from Financing
- -130
- 8
- Free Cash Flow
- 127
- OCF / Net Profit
- 1.98
- Cumulative 5-Year FCF
- 512
- OCF / Net Profit
- 1.98
- Cumulative 5-Year FCF
- 512
Mar 2026
- 213
- Cash from Investing
- -23
- Cash from Financing
- -170
- 21
- Free Cash Flow
- 166
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 574
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 574
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 7.99 | 17.40 | 16.15 | 16.75 | 21.14 | 33.28 | 12.47 | 13.42 | 17.12 | 10.27 |
| Book Value (₹) | 75.02 | 81.99 | 81.69 | 68.68 | 80.26 | 98.89 | 100.09 | 98.67 | 102.36 | 36.36 |
| Dividend per Share (₹) | 10.00 | 10.00 | 20.00 | 5.00 | 25.00 | 15.00 | 18.00 | 18.00 | 21.00 | 14.00 |
| Cash EPS (₹) | 3.78 | 7.04 | 7.03 | 7.59 | 9.04 | 13.23 | 6.49 | 7.33 | 9.18 | 13.91 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 41.93% | 47.07% | 40.75% | 41.51% | 37.14% | 45.00% | 24.86% | 24.26% | 27.72% | 29.66% |
| Net Margin % | 14.08% | 26.18% | 21.13% | 20.36% | 22.88% | 29.91% | 12.22% | 12.15% | 13.20% | 19.64% |
| ROE % | 11.19% | 22.12% | 19.53% | 22.26% | 28.75% | 37.18% | 12.23% | 13.21% | 17.04% | 29.05% |
| ROCE % | 21.04% | 33.89% | 31.48% | 35.27% | 38.51% | 48.42% | 17.61% | 18.75% | 27.24% | 38.30% |
| 10.19% | 20.55% | 18.05% | 18.84% | 22.43% | 25.38% | 8.00% | 10.00% | 13.33% | 21.42% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 8 | 8 | 10 | 12 | 22 | 43 | 62 | 41 | 31 | 32 |
| Inventory Days | 15 | 16 | 16 | 16 | 16 | 15 | 18 | 24 | 25 | 21 |
| Payable Days | 7 | 15 | 23 | 46 | 52 | 45 | 45 | 70 | 111 | 118 |
| 16 | 9 | 2 | -18 | -13 | 13 | 35 | -5 | -55 | -64 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.02x | 0.00x | 0.01x | 0.01x | 0.00x | 0.00x | 0.00x | 0.04x | 0.00x | 0.00x |
| Interest Coverage (x) | 177.40x | 330.52x | 227.33x | 76.90x | 176.25x | 71.94x | 19.34x | 18.36x | 39.89x | 54.76x |
| 8.49x | 7.00x | 5.69x | 1.48x | 2.10x | 1.95x | 3.54x | 3.08x | 2.77x | 3.39x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 26.32% | 17.06% | 13.08% | 7.78% | 13.90% | 19.05% | -10.56% | 8.58% | 20.19% | 20.61% |
| Operating Profit Growth % | 26.87% | 31.42% | -2.11% | 9.78% | 1.91% | 44.25% | -50.58% | 13.12% | 38.99% | 36.10% |
| Net Profit Growth % | -17.29% | 117.72% | -8.73% | 3.83% | 28.00% | 55.67% | -63.46% | 7.97% | 30.59% | 79.45% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.58% | 27.62% | -40.04% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 44.13x | 13.24x | 34.07x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.00x | 6.64x | 9.62x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.04% | 3.09% | 4.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 21.05x | 17.24x | 19.62x |
Mar 2017
- EPS (₹)
- 7.99
- Book Value (₹)
- 75.02
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 3.78
- Operating Margin %
- 41.93%
- Net Margin %
- 14.08%
- ROE %
- 11.19%
- ROCE %
- 21.04%
- 10.19%
- Debtor Days
- 8
- Inventory Days
- 15
- Payable Days
- 7
- 16
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 177.40x
- 8.49x
- Revenue Growth %
- 26.32%
- Operating Profit Growth %
- 26.87%
- Net Profit Growth %
- -17.29%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 17.40
- Book Value (₹)
- 81.99
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 7.04
- Operating Margin %
- 47.07%
- Net Margin %
- 26.18%
- ROE %
- 22.12%
- ROCE %
- 33.89%
- 20.55%
- Debtor Days
- 8
- Inventory Days
- 16
- Payable Days
- 15
- 9
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 330.52x
- 7.00x
- Revenue Growth %
- 17.06%
- Operating Profit Growth %
- 31.42%
- Net Profit Growth %
- 117.72%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 16.15
- Book Value (₹)
- 81.69
- Dividend per Share (₹)
- 20.00
- Cash EPS (₹)
- 7.03
- Operating Margin %
- 40.75%
- Net Margin %
- 21.13%
- ROE %
- 19.53%
- ROCE %
- 31.48%
- 18.05%
- Debtor Days
- 10
- Inventory Days
- 16
- Payable Days
- 23
- 2
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 227.33x
- 5.69x
- Revenue Growth %
- 13.08%
- Operating Profit Growth %
- -2.11%
- Net Profit Growth %
- -8.73%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 16.75
- Book Value (₹)
- 68.68
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 7.59
- Operating Margin %
- 41.51%
- Net Margin %
- 20.36%
- ROE %
- 22.26%
- ROCE %
- 35.27%
- 18.84%
- Debtor Days
- 12
- Inventory Days
- 16
- Payable Days
- 46
- -18
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 76.90x
- 1.48x
- Revenue Growth %
- 7.78%
- Operating Profit Growth %
- 9.78%
- Net Profit Growth %
- 3.83%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 21.14
- Book Value (₹)
- 80.26
- Dividend per Share (₹)
- 25.00
- Cash EPS (₹)
- 9.04
- Operating Margin %
- 37.14%
- Net Margin %
- 22.88%
- ROE %
- 28.75%
- ROCE %
- 38.51%
- 22.43%
- Debtor Days
- 22
- Inventory Days
- 16
- Payable Days
- 52
- -13
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 176.25x
- 2.10x
- Revenue Growth %
- 13.90%
- Operating Profit Growth %
- 1.91%
- Net Profit Growth %
- 28.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 33.28
- Book Value (₹)
- 98.89
- Dividend per Share (₹)
- 15.00
- Cash EPS (₹)
- 13.23
- Operating Margin %
- 45.00%
- Net Margin %
- 29.91%
- ROE %
- 37.18%
- ROCE %
- 48.42%
- 25.38%
- Debtor Days
- 43
- Inventory Days
- 15
- Payable Days
- 45
- 13
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 71.94x
- 1.95x
- Revenue Growth %
- 19.05%
- Operating Profit Growth %
- 44.25%
- Net Profit Growth %
- 55.67%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 12.47
- Book Value (₹)
- 100.09
- Dividend per Share (₹)
- 18.00
- Cash EPS (₹)
- 6.49
- Operating Margin %
- 24.86%
- Net Margin %
- 12.22%
- ROE %
- 12.23%
- ROCE %
- 17.61%
- 8.00%
- Debtor Days
- 62
- Inventory Days
- 18
- Payable Days
- 45
- 35
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 19.34x
- 3.54x
- Revenue Growth %
- -10.56%
- Operating Profit Growth %
- -50.58%
- Net Profit Growth %
- -63.46%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 13.42
- Book Value (₹)
- 98.67
- Dividend per Share (₹)
- 18.00
- Cash EPS (₹)
- 7.33
- Operating Margin %
- 24.26%
- Net Margin %
- 12.15%
- ROE %
- 13.21%
- ROCE %
- 18.75%
- 10.00%
- Debtor Days
- 41
- Inventory Days
- 24
- Payable Days
- 70
- -5
- Debt to Equity (x)
- 0.04x
- Interest Coverage (x)
- 18.36x
- 3.08x
- Revenue Growth %
- 8.58%
- Operating Profit Growth %
- 13.12%
- Net Profit Growth %
- 7.97%
- 7.58%
- P/E (x)
- 44.13x
- P/B (x)
- 6.00x
- Dividend Yield %
- 3.04%
- 21.05x
Mar 2025
- EPS (₹)
- 17.12
- Book Value (₹)
- 102.36
- Dividend per Share (₹)
- 21.00
- Cash EPS (₹)
- 9.18
- Operating Margin %
- 27.72%
- Net Margin %
- 13.20%
- ROE %
- 17.04%
- ROCE %
- 27.24%
- 13.33%
- Debtor Days
- 31
- Inventory Days
- 25
- Payable Days
- 111
- -55
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 39.89x
- 2.77x
- Revenue Growth %
- 20.19%
- Operating Profit Growth %
- 38.99%
- Net Profit Growth %
- 30.59%
- 27.62%
- P/E (x)
- 13.24x
- P/B (x)
- 6.64x
- Dividend Yield %
- 3.09%
- 17.24x
Mar 2026
- EPS (₹)
- 10.27
- Book Value (₹)
- 36.36
- Dividend per Share (₹)
- 14.00
- Cash EPS (₹)
- 13.91
- Operating Margin %
- 29.66%
- Net Margin %
- 19.64%
- ROE %
- 29.05%
- ROCE %
- 38.30%
- 21.42%
- Debtor Days
- 32
- Inventory Days
- 21
- Payable Days
- 118
- -64
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 54.76x
- 3.39x
- Revenue Growth %
- 20.61%
- Operating Profit Growth %
- 36.10%
- Net Profit Growth %
- 79.45%
- -40.04%
- P/E (x)
- 34.07x
- P/B (x)
- 9.62x
- Dividend Yield %
- 4.00%
- 19.62x
Documents
Announcements
- General Updates
2026-08-19 - Thyrocare Technologies Limited has informed the Exchange regarding complete discharge and release of Transaction Documents pursuant to full redemption and repayment of Non-Convertible Debentures by API Holdings Limited
- Disclosure under SEBI Takeover Regulations
2026-08-18 - Thyrocare Technologies Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jul 2026
May 2026
Feb 2026