India's Most Valuable Companies 2021 edition · Source: Hurun India
Rank#480- Valuation
- ₹6,052 Cr
Market Cap
₹7,734 Cr
THYROCARE · NSE
Share Price
₹485.30
-2.74% today
Revenue
₹829 Cr
FY 2025-26 · +20.6% YoY
EBITDA
₹257 Cr
Margin 31.0%
Net Profit
₹161 Cr
FY 2025-26 · +85.5% YoY
P/E (TTM)
45.4x
P/B 14.4x
ROE
28.8%
ROCE 35.4%
Debt / Equity
0.07
Interest cover 2.0x
About Thyrocare Technologies Limited
Data last updated:
Thyrocare Technologies Limited is a public limited company based in Navi Mumbai, Maharashtra, India, a subsidiary of Docon Technologies Private Limited. It operates in the diagnostic centers and pathology labs segment of the healthcare sector. It was incorporated on 28 January 2000 and has been in existence for over 26 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L85110MH2000PLC123882. Its GSTIN is 27AABCT2577P1ZP (Maharashtra). The company holds 20 GST registrations, all of them active. It is a listed company as per MCA records. Its shares are listed on BSE: 539871 and NSE: THYROCARE.
The company has an authorised share capital of ₹300 Cr and a paid-up capital of ₹159.17 Cr. It is led by directors including Rahul Franklin Guha (Managing Director) and Indumati Gopinathan.
Its last annual general meeting (AGM) was held on 31 July 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at D37/1 Ttc Industrial Area MIDC Turbhe, Navi Mumbai, Maharashtra, India – 400703.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹829.04 Cr, a growth of 20.6% compared to the previous year. For the same year it recorded a net profit of ₹160.8 Cr (net margin 19.4%) and EBITDA of ₹257.04 Cr (EBITDA margin 31%). The net worth stands at ₹585.5 Cr (up 7.1% YoY). Total assets are valued at ₹648.82 Cr (up 12.1% YoY).
The company has about 1,758 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 3 brands: HealthcareOnTime, Thyrocare and Nueclear. As per MCA filings, the company has satisfied charges of ₹45.05 Cr on record. Court records list 60 cases involving the company, including 42 filed by the company and 18 filed against it; 5 cases are pending. The company has 30 deals on record (17 secondary share transfers, 6 funding rounds, 6 market trades), with disclosed funding of ₹193.74 Cr; the latest was in August 2026. Its 5 peer companies in the Healthcare industry (Diagnostics and Pathology Labs), with the same principal business activity (human health activities) are compared by revenue, 3 larger and 2 smaller; the largest is Agilus Diagnostics Limited with revenue of ₹1,432.43 Cr. The company has 11 MSME Form 1 returns on record between 2019 and 2024, listing 23 overdue payments to 15 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website thyrocare.com.
Company details
CIN L85110MH2000PLC123882
Registration Number 123882
Incorporation Date 28 January 2000
ROC Mumbai
Listing Status Listed - Listed on NSE (THYROCARE); Listed on BSE (539871)
Company Status Active
Date of Last AGM 31 July 2025
Date of Balance Sheet 31 March 2026
Parent Company Docon Technologies Private Limited
Compliance Status Active Compliant
CIN history
Thyrocare Technologies has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L85110MH2000PLC123882, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L85110MH2000PLC123882 | Current |
| U85110MH2000PLC123882 | Previous |
| L86905MH2000PLC123882 | Previous |
Key People
Rahul Franklin Guha Managing Director Indumati Gopinathan Director Nishant Amilal Shah Director Recognitions & Rankings of Thyrocare Technologies
Contact details
Thyrocare Technologies Limited's registered office is in Navi Mumbai, Maharashtra. Its website is thyrocare.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered AddressD37/1 Ttc Industrial Area MIDC Turbhe, Navi Mumbai, Maharashtra, India – 400703
- IndustryHealthcare, Diagnostic Centers & Pathology Labs
To see the full contact details of Thyrocare Technologies Limited, buy the company report.
Comprehensive company report
Thyrocare Technologies Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Thyrocare Technologies operates multiple associated brands including HealthcareOnTime, Thyrocare, and Nueclear. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Diagnostic testing centers for pathology and health screenings are operated. | thyrocare.com | |
| Network of PET-CT and CT scan centers providing cancer diagnostic services | nueclear.com | |
| HealthcareOnTime provides online diagnostic and at-home health testing services in India. | healthcareontime.com |
Business activity
The main business activity of Thyrocare Technologies is human health and social work activities. In detail, this covers human health activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| Q | Human health and social work activities | 86 | Human health activities |
To see the full business activity and turnover split of Thyrocare Technologies Limited, buy the company report.
Financials of Thyrocare Technologies Limited
FY 2025-26 filings availableThyrocare Technologies Limited reported revenue of ₹829.04 Cr (up 20.6% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹829 Cr
+20.6% YoY
EBITDA
₹257 Cr
+35.6% YoY
Profit After Tax
₹161 Cr
+85.5% YoY
Net Worth
₹586 Cr
+7.1% YoY
Total Assets
₹649 Cr
+12.1% YoY
Total Debt
₹50.69 Cr
+105.4% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 829 | 687 | 572 | 527 | 589 | 495 | 434 |
| Revenue growth | +20.6% | +20.2% | +8.6% | -10.6% | +19.1% | +13.9% | - |
| EBITDA | 257 | 190 | 139 | 123 | 236 | 171 | 167 |
| EBITDA margin | +31.0% | +27.6% | +24.3% | +23.3% | +40.0% | +34.6% | +38.5% |
| Profit before tax | 213 | 145 | 95.98 | 88.59 | 228 | 152 | 140 |
| Net profit | 161 | 86.69 | 71.39 | 64.21 | 158 | 108 | 89.53 |
| Net profit margin | +19.4% | +12.6% | +12.5% | +12.2% | +26.8% | +21.8% | +20.6% |
| EPS (₹) | 10.24 | 17.27 | 13.36 | 12.18 | 33.30 | 21.40 | 16.73 |
| Balance sheet | |||||||
| Total assets | 649 | 579 | 573 | 562 | 548 | 449 | 387 |
| Net worth | 586 | 547 | 527 | 534 | 527 | 427 | 367 |
| Total debt | 50.69 | 24.68 | 42.34 | 23.31 | 20.70 | 8.49 | 12.44 |
| Cash & bank | 68.16 | 54.48 | 39.89 | 28.47 | 13.91 | 15.73 | 11.07 |
| Net working capital | 122 | 86.28 | 70.91 | 80.73 | 85.29 | 43.89 | 5.52 |
| Cash flow | |||||||
| Cash from operations | 213 | 191 | 168 | 129 | 113 | 115 | 168 |
| Cash from investing | (23.00) | (52.52) | (91.29) | (38.99) | (23.57) | (48.66) | 0.95 |
| Cash from financing | (170) | (130) | (84.81) | (86.18) | (89.41) | (61.58) | (165) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 271 | 240 | 224 | 196 | 217 | 193 | 187 | 166 |
| Revenue growth (YoY) | +25.1% | +24.3% | +19.7% | +17.9% | +22.1% | +23.0% | - | - |
| Other income | 4.43 | 4.86 | 4.89 | 5.26 | 3.33 | 4.90 | 4.59 | 4.01 |
| EBITDA | 44.31 | 77.27 | 75.09 | 51.67 | 71.35 | 57.77 | 57.07 | 41.57 |
| EBITDA margin | +16.4% | +32.2% | +33.5% | +26.4% | +33.0% | +29.9% | +30.5% | +25.1% |
| Depreciation | 13.52 | 12.49 | 14.03 | 21.63 | 11.51 | 11.41 | 13.77 | 17.06 |
| Interest | 1.57 | 1.35 | 1.52 | (0.09) | 0.59 | 0.78 | 0.70 | 0.60 |
| Profit before tax | 33.65 | 68.29 | 64.43 | 35.39 | 62.58 | 50.48 | 47.19 | 27.92 |
| Tax | 18.43 | 16.96 | 15.73 | 7.34 | 14.77 | 12.19 | 25.62 | 8.97 |
| Net profit | 15.22 | 51.33 | 48.70 | 28.05 | 47.81 | 38.29 | 21.57 | 18.95 |
| EPS (₹) | 0.95 | 3.21 | 2.98 | 1.81 | 9.03 | 7.33 | 4.17 | 3.56 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 774 | 633 | 524 | 486 | 562 | 474 | 401 |
| Revenue growth | +22.3% | +20.8% | +7.7% | -13.4% | +18.4% | +18.3% | - |
| EBITDA | 251 | 188 | 135 | 114 | 232 | 171 | 123 |
| EBITDA margin | +32.5% | +29.6% | +25.8% | +23.5% | +41.2% | +36.0% | +30.8% |
| Profit before tax | 210 | 151 | 98.22 | 81.07 | 207 | 161 | 112 |
| Net profit | 147 | 91.42 | 68.84 | 55.24 | 149 | 114 | 104 |
| Net profit margin | +19.0% | +14.4% | +13.1% | +11.4% | +26.5% | +24.1% | +25.9% |
| EPS (₹) | 9.35 | 18.08 | 13.44 | 10.76 | 28.74 | 22.65 | 15.01 |
| Balance sheet | |||||||
| Total assets | 626 | 572 | 560 | 547 | 542 | 469 | 395 |
| Net worth | 561 | 537 | 514 | 521 | 521 | 445 | 378 |
| Total debt | 48.18 | 23.21 | 38.82 | 21.17 | 21.43 | 9.63 | 9.20 |
| Cash & bank | 62.63 | 51.98 | 34.10 | 16.39 | 12.00 | 7.67 | 7.30 |
| Net working capital | 123 | 90.14 | 70.62 | 68.84 | 87.10 | 19.77 | (2.46) |
| Cash flow | |||||||
| Cash from operations | 206 | 179 | 155 | 120 | 106 | 111 | 136 |
| Cash from investing | (20.92) | (42.58) | (80.29) | (31.65) | (12.32) | (53.09) | 26.84 |
| Cash from financing | (167) | (124) | (83.71) | (87.50) | (86.91) | (57.81) | (163) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 256 | 226 | 211 | 182 | 202 | 179 | 174 | 153 |
| Revenue growth (YoY) | +26.7% | +26.1% | +21.2% | +19.6% | +24.0% | +24.6% | - | - |
| Other income | 2.94 | 3.51 | 3.72 | 3.43 | 2.28 | 3.96 | 4.54 | 3.51 |
| Total expenses | 179 | 150 | 138 | 130 | 133 | 122 | 118 | 112 |
| EBITDA | 76.87 | 75.61 | 72.63 | 52.30 | 68.91 | 56.52 | 55.64 | 40.25 |
| EBITDA margin | +30.0% | +33.5% | +34.5% | +28.7% | +34.1% | +31.6% | +32.0% | +26.4% |
| Depreciation | 12.50 | 11.23 | 12.94 | 19.58 | 9.70 | 8.95 | 11.78 | 15.34 |
| Interest | 1.48 | 1.26 | 1.43 | (0.47) | 0.60 | 0.62 | 0.60 | 0.48 |
| Profit before tax | 65.83 | 66.63 | 61.98 | 36.62 | 60.89 | 50.91 | 47.80 | 27.94 |
| Tax | 17.70 | 16.46 | 18.40 | 10.47 | 17.86 | 14.86 | 25.85 | 8.84 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 10 Nov 2026
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 271 | 240 | 224 | 196 | 217 | 193 | 187 | 166 |
| Revenue growth (YoY) | +25.1% | +24.3% | +19.7% | +17.9% | +22.1% | +23.0% | - | - |
| Other income | 4.43 | 4.86 | 4.89 | 5.26 | 3.33 | 4.90 | 4.59 | 4.01 |
| EBITDA | 44.31 | 77.27 | 75.09 | 51.67 | 71.35 | 57.77 | 57.07 | 41.57 |
| EBITDA margin | +16.4% | +32.2% | +33.5% | +26.4% | +33.0% | +29.9% | +30.5% | +25.1% |
| Depreciation | 13.52 | 12.49 | 14.03 | 21.63 | 11.51 | 11.41 | 13.77 | 17.06 |
| Interest | 1.57 | 1.35 | 1.52 | (0.09) | 0.59 | 0.78 | 0.70 | 0.60 |
| Profit before tax | 33.65 | 68.29 | 64.43 | 35.39 | 62.58 | 50.48 | 47.19 | 27.92 |
| Tax | 18.43 | 16.96 | 15.73 | 7.34 | 14.77 | 12.19 | 25.62 | 8.97 |
| Net profit | 15.22 | 51.33 | 48.70 | 28.05 | 47.81 | 38.29 | 21.57 | 18.95 |
| EPS (₹) | 0.95 | 3.21 | 2.98 | 1.81 | 9.03 | 7.33 | 4.17 | 3.56 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 829 | 687 | 572 | 527 | 589 | 495 | 434 |
| Revenue growth | +20.6% | +20.2% | +8.6% | -10.6% | +19.1% | +13.9% | - |
| Other income | 18.38 | 14.83 | 9.76 | 9.60 | 29.25 | 12.43 | 7.18 |
| Total expenses | 572 | 498 | 433 | 404 | 353 | 323 | 267 |
| Employee cost | 138 | 127 | 108 | 106 | 61.13 | 58.07 | 48.92 |
| EBITDA | 257 | 190 | 139 | 123 | 236 | 171 | 167 |
| EBITDA margin | +31.0% | +27.6% | +24.3% | +23.3% | +40.0% | +34.6% | +38.5% |
| Depreciation | 58.58 | 55.26 | 47.01 | 38.71 | 33.87 | 30.28 | 31.91 |
| Interest | 3.96 | 3.74 | 5.53 | 4.83 | 3.21 | 0.87 | 1.85 |
| Profit before tax | 213 | 145 | 95.98 | 88.59 | 228 | 152 | 140 |
| Tax | 50.03 | 54.69 | 26.49 | 24.23 | 51.58 | 39.32 | 52.01 |
| Net profit | 161 | 86.69 | 71.39 | 64.21 | 158 | 108 | 89.53 |
| Net profit margin | +19.4% | +12.6% | +12.5% | +12.2% | +26.8% | +21.8% | +20.6% |
| EPS (₹) | 10.24 | 17.27 | 13.36 | 12.18 | 33.30 | 21.40 | 16.73 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 159 | 52.99 | 52.95 | 52.93 | 52.90 | 52.87 | 52.84 |
| Reserves & surplus | 354 | 439 | 440 | 462 | 474 | 374 | 314 |
| Shareholders' funds (net worth) | 586 | 547 | 527 | 534 | 527 | 427 | 367 |
| Minority interest | 0.52 | 0.30 | 0.86 | 0.92 | 0.00 | 0.00 | 0.00 |
| Secured loans | 0.00 | 0.00 | 28.63 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 50.69 | 24.68 | 13.71 | 23.31 | 20.70 | 8.49 | 12.44 |
| Total debt | 50.69 | 24.68 | 42.34 | 23.31 | 20.70 | 8.49 | 12.44 |
| Total liabilities | 649 | 579 | 573 | 562 | 548 | 449 | 387 |
| Assets | |||||||
| Gross block | 601 | 543 | 501 | 461 | 423 | 366 | 359 |
| Net block | 317 | 297 | 306 | 294 | 285 | 253 | 269 |
| Capital work in progress | 3.07 | 14.15 | 2.55 | 1.61 | 2.95 | 8.28 | 4.93 |
| Investments | 177 | 162 | 162 | 144 | 146 | 126 | 90.20 |
| Inventories | 48.46 | 46.54 | 47.52 | 27.67 | 24.53 | 23.36 | 20.62 |
| Sundry debtors | 73.88 | 73.00 | 43.47 | 85.12 | 93.20 | 44.68 | 16.30 |
| Cash & bank balances | 68.16 | 54.48 | 39.89 | 28.47 | 13.91 | 15.73 | 11.07 |
| Loans & advances | 30.29 | 26.34 | 10.88 | 9.38 | 13.17 | 52.18 | 34.97 |
| Total current assets | 221 | 200 | 142 | 151 | 145 | 136 | 82.96 |
| Total current liabilities | 98.40 | 114 | 70.85 | 69.91 | 59.52 | 92.06 | 77.44 |
| Net working capital | 122 | 86.28 | 70.91 | 80.73 | 85.29 | 43.89 | 5.52 |
| Total assets | 649 | 579 | 573 | 562 | 548 | 449 | 387 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 17.68 | 9.30 | 17.77 | 13.63 | 13.20 | 8.71 | 4.91 |
| Net cash from operating activities | 213 | 191 | 168 | 129 | 113 | 115 | 168 |
| Net cash from investing activities | (23.00) | (52.52) | (91.29) | (38.99) | (23.57) | (48.66) | 0.95 |
| Net cash from financing activities | (170) | (130) | (84.81) | (86.18) | (89.41) | (61.58) | (165) |
| Net change in cash | 20.64 | 8.38 | (8.47) | 4.14 | 0.43 | 4.49 | 4.05 |
| Closing cash | 68.16 | 54.48 | 39.89 | 28.47 | 13.91 | 15.73 | 11.07 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +20.6% | +20.2% | +8.6% | -10.6% | +19.1% | +13.9% | - |
| EBITDA growth | +35.6% | +36.7% | +13.3% | -48.0% | +37.6% | +2.5% | - |
| PBT growth | +46.4% | +51.5% | +8.3% | -61.1% | +49.4% | +8.6% | +1.7% |
| Net income growth | +85.5% | +21.4% | +11.2% | -59.3% | +46.5% | +20.1% | - |
| Revenue CAGR (3Y) | +16.3% | +5.3% | +5.0% | +6.6% | +13.5% | +11.6% | +12.6% |
| EBITDA CAGR (3Y) | +28.0% | -7.0% | -6.8% | -9.8% | +15.2% | +6.3% | +23.8% |
| Profitability & leverage | |||||||
| Net income margin | +19.6% | +13.2% | +12.2% | +12.2% | +29.9% | +22.9% | +20.4% |
| Return on capital employed | +35.4% | +25.9% | +17.9% | +16.9% | +41.4% | +36.7% | +33.8% |
| Return on net worth | +28.8% | +16.9% | +13.1% | +12.1% | +33.1% | +28.5% | +22.1% |
| Debt / equity | 0.07 | 0.06 | 0.06 | 0.04 | 0.03 | 0.03 | 0.02 |
| Long-term debt / equity | 0.05 | 0.04 | 0.04 | 0.03 | 0.02 | 0.02 | 0.01 |
| Interest cover | 2.00 | 2.78 | 6.03 | 5.76 | 1.59 | 0.62 | 1.37 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.45 | 1.32 | 1.19 | 1.19 | 1.49 | 1.36 | 1.22 |
| Inventory turnover | 17.45 | 14.62 | 15.21 | 20.18 | 24.59 | 22.49 | 22.44 |
| Debtors turnover | 11.29 | 11.80 | 8.89 | 5.91 | 8.54 | 16.22 | 30.52 |
| EPS (₹) | 10.24 | 17.27 | 13.36 | 12.18 | 33.30 | 21.40 | 16.73 |
| Dividend per share (₹) | 14.00 | 21.00 | 18.00 | 18.00 | 15.00 | 25.00 | 5.00 |
| Book value per share (₹) | 32.21 | 92.81 | 93.03 | 97.37 | 99.54 | 80.82 | 69.39 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 256 | 226 | 211 | 182 | 202 | 179 | 174 | 153 |
| Revenue growth (YoY) | +26.7% | +26.1% | +21.2% | +19.6% | +24.0% | +24.6% | - | - |
| Other income | 2.94 | 3.51 | 3.72 | 3.43 | 2.28 | 3.96 | 4.54 | 3.51 |
| Total expenses | 179 | 150 | 138 | 130 | 133 | 122 | 118 | 112 |
| EBITDA | 76.87 | 75.61 | 72.63 | 52.30 | 68.91 | 56.52 | 55.64 | 40.25 |
| EBITDA margin | +30.0% | +33.5% | +34.5% | +28.7% | +34.1% | +31.6% | +32.0% | +26.4% |
| Depreciation | 12.50 | 11.23 | 12.94 | 19.58 | 9.70 | 8.95 | 11.78 | 15.34 |
| Interest | 1.48 | 1.26 | 1.43 | (0.47) | 0.60 | 0.62 | 0.60 | 0.48 |
| Profit before tax | 65.83 | 66.63 | 61.98 | 36.62 | 60.89 | 50.91 | 47.80 | 27.94 |
| Tax | 17.70 | 16.46 | 18.40 | 10.47 | 17.86 | 14.86 | 25.85 | 8.84 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 774 | 633 | 524 | 486 | 562 | 474 | 401 |
| Revenue growth | +22.3% | +20.8% | +7.7% | -13.4% | +18.4% | +18.3% | - |
| Other income | 13.39 | 13.34 | 7.18 | 5.39 | 7.40 | 12.28 | 9.42 |
| Total expenses | 523 | 446 | 389 | 372 | 330 | 304 | 278 |
| Employee cost | 128 | 119 | 103 | 103 | 58.82 | 56.79 | 45.75 |
| EBITDA | 251 | 188 | 135 | 114 | 232 | 171 | 123 |
| EBITDA margin | +32.5% | +29.6% | +25.8% | +23.5% | +41.2% | +36.0% | +30.8% |
| Depreciation | 51.17 | 46.52 | 39.11 | 34.08 | 28.47 | 21.08 | 19.54 |
| Interest | 3.16 | 3.14 | 4.88 | 4.54 | 3.08 | 0.66 | 1.32 |
| Profit before tax | 210 | 151 | 98.22 | 81.07 | 207 | 161 | 112 |
| Tax | 61.59 | 55.43 | 27.08 | 24.10 | 55.33 | 41.51 | 32.68 |
| Net profit | 147 | 91.42 | 68.84 | 55.24 | 149 | 114 | 104 |
| Net profit margin | +19.0% | +14.4% | +13.1% | +11.4% | +26.5% | +24.1% | +25.9% |
| EPS (₹) | 9.35 | 18.08 | 13.44 | 10.76 | 28.74 | 22.65 | 15.01 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 159 | 52.99 | 52.95 | 52.93 | 52.90 | 52.87 | 52.84 |
| Reserves & surplus | 331 | 430 | 427 | 449 | 468 | 393 | 325 |
| Shareholders' funds (net worth) | 561 | 537 | 514 | 521 | 521 | 445 | 378 |
| Secured loans | 0.00 | 0.00 | 28.63 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 48.18 | 23.21 | 10.19 | 21.17 | 21.43 | 9.63 | 9.20 |
| Total debt | 48.18 | 23.21 | 38.82 | 21.17 | 21.43 | 9.63 | 9.20 |
| Total liabilities | 626 | 572 | 560 | 547 | 542 | 469 | 395 |
| Assets | |||||||
| Gross block | 409 | 342 | 302 | 279 | 246 | 193 | 167 |
| Net block | 180 | 158 | 159 | 157 | 149 | 119 | 112 |
| Capital work in progress | 3.07 | 14.17 | 0.76 | 0.82 | 2.15 | 8.28 | 3.87 |
| Investments | 294 | 284 | 291 | 274 | 259 | 274 | 239 |
| Inventories | 46.56 | 45.70 | 45.69 | 27.05 | 24.22 | 22.16 | 18.49 |
| Sundry debtors | 69.53 | 68.94 | 40.20 | 83.31 | 92.78 | 44.29 | 15.19 |
| Cash & bank balances | 62.63 | 51.98 | 34.10 | 16.39 | 12.00 | 7.67 | 7.30 |
| Loans & advances | 30.26 | 27.97 | 10.40 | 7.43 | 12.97 | 4.91 | 3.64 |
| Total current assets | 209 | 195 | 130 | 134 | 142 | 79.03 | 44.62 |
| Total current liabilities | 85.56 | 104 | 59.77 | 65.34 | 54.87 | 59.26 | 47.08 |
| Net working capital | 123 | 90.14 | 70.62 | 68.84 | 87.10 | 19.77 | (2.46) |
| Total assets | 626 | 572 | 560 | 547 | 542 | 469 | 395 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 15.18 | 3.56 | 12.37 | 11.50 | 5.05 | 4.88 | 4.36 |
| Net cash from operating activities | 206 | 179 | 155 | 120 | 106 | 111 | 136 |
| Net cash from investing activities | (20.92) | (42.58) | (80.29) | (31.65) | (12.32) | (53.09) | 26.84 |
| Net cash from financing activities | (167) | (124) | (83.71) | (87.50) | (86.91) | (57.81) | (163) |
| Net change in cash | 17.70 | 11.62 | (8.81) | 0.87 | 6.45 | 0.17 | 0.52 |
| Closing cash | 62.63 | 51.98 | 34.10 | 16.39 | 12.00 | 7.67 | 7.30 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +22.3% | +20.8% | +7.7% | -13.4% | +18.4% | +18.3% | - |
| EBITDA growth | +34.0% | +38.9% | +18.1% | -50.6% | +35.6% | +38.3% | - |
| PBT growth | +39.1% | +54.0% | +21.2% | -60.9% | +28.6% | +44.0% | -23.7% |
| Net income growth | +60.8% | +32.8% | +24.6% | -62.8% | +30.3% | +10.0% | - |
| Revenue CAGR (3Y) | +16.8% | +4.1% | +3.4% | +6.7% | +14.9% | +12.7% | +10.5% |
| EBITDA CAGR (3Y) | +30.0% | -6.8% | -7.5% | -2.5% | +16.1% | +7.7% | +12.2% |
| Profitability & leverage | |||||||
| Net income margin | +19.2% | +15.1% | +13.6% | +11.7% | +27.1% | +25.3% | +19.8% |
| Return on capital employed | +35.7% | +27.3% | +18.6% | +15.7% | +41.6% | +37.5% | +35.6% |
| Return on net worth | +27.1% | +18.2% | +13.8% | +10.9% | +31.5% | +29.1% | +24.9% |
| Debt / equity | 0.07 | 0.06 | 0.06 | 0.04 | 0.03 | 0.02 | 0.01 |
| Long-term debt / equity | 0.05 | 0.04 | 0.04 | 0.03 | 0.02 | 0.01 | 0.01 |
| Interest cover | 1.58 | 2.23 | 5.09 | 5.66 | 1.52 | 0.44 | 1.27 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.06 | 1.97 | 1.81 | 1.85 | 2.56 | 2.63 | 2.57 |
| Inventory turnover | 16.78 | 13.85 | 14.41 | 18.98 | 24.21 | 23.33 | 23.56 |
| Debtors turnover | 11.18 | 11.60 | 8.49 | 5.53 | 8.19 | 15.95 | 30.56 |
| EPS (₹) | 9.35 | 18.08 | 13.44 | 10.76 | 28.74 | 22.65 | 15.01 |
| Dividend per share (₹) | 14.00 | 21.00 | 18.00 | 18.00 | 15.00 | 25.00 | 5.00 |
| Book value per share (₹) | 30.79 | 91.19 | 90.58 | 94.86 | 98.43 | 84.26 | 71.58 |
To see the full year-wise statements and ratios of Thyrocare Technologies Limited, buy the company report.
Board of directors of Thyrocare Technologies Limited
Thyrocare Technologies has 9 current directors and 25 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rahul Franklin Guha Also directs: Api Holdings Limited, Nueclear Healthcare Limited | Managing Director | 03 Aug 2022 | 4 Years 3 Months | Current |
| Indumati Gopinathan Also directs: Rashi Peripherals Limited | Director | 12 Aug 2017 | 9 Years 2 Months | Current |
| Nishant Amilal Shah Also directs: Nueclear Healthcare Limited, Jackstien International LLP, Affinisio Technologies LLP and 1 more | Director | 15 Jun 2024 | 2 Years 4 Months | Current |
| Anandh Sundar Also directs: Nueclear Healthcare Limited, Cera Sanitaryware Limited, Kenvision Robotics and Inspection Automation Private Limited and 2 more | Director | 15 Jun 2024 | 2 Years 4 Months | Current |
| Alok Kumar Jagnani Also directs: Pulse Hitech Health Services (Ghatkopar) LLP, Venkatesh Medico Private Limited, Akp Healthcare Private Limited and 3 more | Director | 24 Jul 2025 | 1 Years 3 Months | Current |
| Harshil Jiten Vora | Director | 14 Jul 2023 | 3 Years 3 Months | Current |
Showing 6 of 9 current directors. View all directors
Peer comparison
Thyrocare Technologies Limited is compared with the 5 companies closest to it by revenue in the Healthcare industry (Diagnostics and Pathology Labs), with the same principal business activity (human health activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Agilus Diagnostics Limited | ₹1,432.43 Cr (FY 2025) | 3.0% | Mohali, Punjab, India | |||
| Metropolis Healthcare Limited | ₹1,346.32 Cr (FY 2025) | 11.0% | Mumbai, Maharashtra, India | |||
| Thyrocare Technologies Limitedthis company | ₹829.04 Cr (FY 2026) | ₹160.8 Cr | 19.4% | 20.6% | 1,758 | Navi Mumbai, Maharashtra, India |
| Krsnaa Diagnostics Limited | ₹742.7 Cr (FY 2025) | 17.0% | Pune, Maharashtra, India | |||
| Vijaya Diagnostic Centre Limited | ₹699.71 Cr (FY 2025) | 23.0% | Hyderabad, Telangana, India | |||
| Medgenome Labs Limited | ₹406.98 Cr (FY 2025) | 36.0% | Bangalore, Karnataka, India |
To see the full peer comparison of Thyrocare Technologies Limited, buy the company report.
Auditor
Thyrocare Technologies Limited is audited by MSKA & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MSKA & Associates | FY 2023 | 105047W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 60.90%, foreign institutional investors hold 5.40%, domestic institutional investors hold 21.00% and retail and other public shareholders hold 12.70%.
Sep 2026
QUARTER
60.90% Promoters
21.00% DII (Domestic Institutional)
5.40% FII (Foreign Institutional)
12.70% Retail & Others
Promoter holding - history
Now 60.90% · Sep 2026High 71.10% · Dec 2025Low 60.90% · Mar 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 60.90% | 60.90% | 60.90% | 71.10% |
| Public | 39.10% | 39.10% | 39.10% | 28.90% |
Charges & borrowings
Open charges
None
Satisfied charges
₹45.05 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Apr 2023 | 100724039 | Hdfc Bank Limited | ₹45 Cr | Satisfied | |
| 29 Apr 2002 | 90234859 | Uti Bank Ltd; | ₹4.62 Lakh | Satisfied |
To see the full charge records of Thyrocare Technologies Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Thyrocare Technologies Limited has 30 deals on record (17 secondary share transfers, 6 funding rounds, 6 market trades), with disclosed funding of ₹193.74 Cr; the latest was in August 2026.
Total deals
30
Secondary share transfers
17
Funding rounds
6
Market trades
6
Convertible or debt financing
1
Disclosed funding
₹193.74 Cr
Deals on record (5 of 30)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2026 | Market trade | ₹100.97 Cr | Seller: Docon Technologies Private Limited |
| Jun 2023 | Market trade | ₹246.38 Cr | Buyer: Icici Prudential Mutual Fund, Jainam Broking Limited Seller: Arisaig Asia Consumer Fund Limited, Jainam Broking Limited |
| Mar 2022 | Secondary share transfer | Undisclosed | Buyer: Docon Technologies Private Limited Seller: Focus Value LLP , Iheart Properties Private Limited , Nalanda India Equity, an individual |
| Nov 2014 | Funding round | ₹21.15 Cr | Investors: Sumathi Infra Project LLP |
| Sep 2014 | Secondary share transfer | Undisclosed | Buyer: A Velumani HUF, A Sundararaju Huf, Grow Wealth Consultants Private Limited Seller: A Rathinaswamy HUF, ESOP Trust Thyrocare Technologies Limited, 2 individuals |
To see the full deal history of Thyrocare Technologies Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Thyrocare Technologies Limited has 60 court cases on record: 42 filed by Thyrocare Technologies, 18 filed against it. 5 cases are pending and 55 are disposed.
Total cases
60
Filed by the company
42
Filed against the company
18
Pending
5
Disposed
55
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 39 | 13 | 4 |
| District courts | 20 | 5 | 1 |
| Supreme Court | 1 | 0 | 0 |
Cases on record (5 of 60)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Court case (Com.A.A.) | Filed against the company by Hashedin Technologies Private Limited | Pending |
| High Court, MAHARASHTRA | Court case (CARAP) | Filed against the company by Comsense Technologies Private Ltd., | Disposed |
| Bombay High Court | Court case (S) | Filed against the company by Kotak Mahindra Bank Limited | Disposed |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Kotak Mahindra Bank Limited | Disposed |
| District court, Thane, Maharashtra | Court case (Sum.Civ.Suit) | Filed against the company by Ms. Versatile Informatics Technologies Pvt. Ltd. | Disposed |
To see the full case history of Thyrocare Technologies Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Thyrocare Technologies Limited has 11 MSME Form 1 returns on record between 2019 and 2024, listing 23 overdue payments to 15 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 15)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Trident Services Private Limited | |||
| an individual supplier | |||
| Danial Engineering Private Limited | |||
| Deltapure Technologies (India) Private Limited |
To see the full MSME payment records of Thyrocare Technologies Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Thyrocare Technologies has 1 subsidiary company and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
1
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Nueclear Healthcare Limited | U74120MH2011PLC212839 |
To see the full group structure of Thyrocare Technologies Limited, buy the company report.
Employees & EPFO
Thyrocare Technologies Limited has a workforce of 1,758 employees on its EPFO records as of Apr 07, 2024, across 2 active EPFO establishments.
Employee count
1,758
Active EPFO establishments
2
Employee growth
-6.09%
GST
Thyrocare Technologies has 20 GST registrations: 20 active. The first 4 active GSTINs are listed below.
Total GSTINs
20
Active
20
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCT2577P1ZP | Maharashtra | Active | 01 Jul 2017 |
| 07AABCT2577P1ZR | Delhi | Active | 01 Jul 2017 |
| 33AABCT2577P1ZW | Tamil Nadu | Active | 01 Jul 2017 |
| 36AABCT2577P1ZQ | Telangana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Thyrocare Technologies Limited, buy the company report.
Recent activity
Thyrocare Technologies Limited has 52 board changes on record since 2000: 32 appointments and 20 cessations. The latest: Gaurav Verma was appointed as Additional Director on 08 May 2026.
Appointed
Gaurav Verma was appointed as Additional Director.
Appointed
Uday Patel Kadam was appointed as Additional Director.
Filing
Thyrocare Technologies Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai Ii.
AGM
Thyrocare Technologies Limited last Annual general meeting of members was held on 31 Jul 2025 as per latest MCA records.
Appointed
Alok Kumar Jagnani was appointed as Director.
Ceased
Hardik Kishor Dedhia ceased to be Director.
Appointed
Brijesh Kumar was appointed as Company Secretary.
Ceased
Ramjee Dorai ceased to be Company Secretary.
Ceased
Neetin Shivajirao Desai ceased to be Director.
Ceased
Gopal Shivram Hegde ceased to be Director.
Charges
A charge registered on 29 Apr 2023 via Charge ID 100724039 with Hdfc Bank Limited was fully satisfied on 16 Jul 2024.
Appointed
Anandh Sundar was appointed as Director.
47 earlier events are in the company report.
News
THYROCARE: Q2 REVENUE 2.7B RUPEES VS 2.17B (YOY)
THYROCARE: Q2 CONS NET PROFIT 159M RUPEES VS 480M (YOY)
THYROCARE: Q2 EBITDA 443M RUPEES VS 713.5M (YOY); Q2 EBITDA MARGIN 16.36% VS 32.95% (YOY)
Thyrocare Technologies Ltd: Board Agrees to Sell Full Stake in Nuclear Healthcare Limited to Trovera Healthcare for ₹141.4 Crore, Focusing on Main Pathology Business; Purchase of Properties in Gurugram and Hyderabad Also Approved.
Frequently asked questions
Thyrocare Technologies is an active public limited company based in Navi Mumbai, Maharashtra, India. The company works in diagnostic centers and pathology labs, within the healthcare industry. It was incorporated on 28 January 2000 (26+ years old) and is registered under CIN L85110MH2000PLC123882. Listed on BSE: 539871 and NSE: THYROCARE.
Thyrocare Technologies reported revenue of ₹829.04 Cr for FY 2025-26 (up 20.6% YoY) based on consolidated financials.
Thyrocare Technologies has 9 current directors:
- Rahul Franklin Guha - Managing Director
- Indumati Gopinathan - Director
- Nishant Amilal Shah - Director
- Anandh Sundar - Director
- Alok Kumar Jagnani - Director
- Harshil Jiten Vora - Director
- Prapti Ishwar Gilada - Director
- Uday Patel Kadam - Additional Director
- Gaurav Verma - Additional Director
The latest financial statements of Thyrocare Technologies on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 31 July 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Thyrocare Technologies is 27AABCT2577P1ZP, registered in Maharashtra. The company has 20 GST registrations in all, of which 20 are active. Other active GSTINs include 07AABCT2577P1ZR (Delhi), 33AABCT2577P1ZW (Tamil Nadu), 36AABCT2577P1ZQ (Telangana).
The CIN (Corporate Identification Number) of Thyrocare Technologies is L85110MH2000PLC123882. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Thyrocare Technologies is a listed company as per MCA records. Its shares are listed on both BSE (code: 539871) and NSE (symbol: THYROCARE).
Thyrocare Technologies has 60 court cases on record: 42 filed by the company and 18 filed against it. 5 are pending. Most are in the high courts.
Thyrocare Technologies was incorporated on 28 January 2000, making it 26+ years old. It is registered with the Registrar of Companies, Mumbai.
Thyrocare Technologies has 30 deals on record (17 secondary share transfers, 6 funding rounds, 6 market trades), with disclosed funding of ₹193.74 Cr; the latest was in August 2026.
The peers of Thyrocare Technologies by revenue are Agilus Diagnostics Limited, Metropolis Healthcare Limited, Krsnaa Diagnostics Limited, Vijaya Diagnostic Centre Limited, Medgenome Labs Limited, all in the Healthcare industry (Diagnostics and Pathology Labs), with the same principal business activity (human health activities).
Gaurav Verma was appointed as Additional Director on 08 May 2026. Uday Patel Kadam was appointed as Additional Director on 08 May 2026. Alok Kumar Jagnani was appointed as Director on 24 Jul 2025. Thyrocare Technologies has 52 board changes on record in total.
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