Thyrocare Technologies Limited reported a strong financial performance for the second quarter of FY27, with consolidated revenue increasing 25.1% year-on-year (YoY) to ₹270.8 crore. The diagnostic services provider recorded a 25.7% rise in profit after tax (PAT) before exceptional items to ₹60.2 crore, supported by growth in its Pathology business and continued expansion across its diagnostic network.
The company’s EBITDA increased 24.9% YoY to ₹89.3 crore during the quarter. Its Pathology segment remained a key growth driver, reporting 26.7% YoY growth as the company continued to expand its franchise and partnership networks.
Thyrocare also strengthened its operational performance, processing 61.6 million diagnostic tests during Q2FY27, representing a 27.4% increase compared with the corresponding quarter of the previous financial year.
Pathology Business Drives Growth
Thyrocare’s Pathology business recorded continued momentum, with franchise revenue growing 26.9% YoY and partnership revenue increasing 27.9% YoY. The company continued to expand its reach through its network of laboratories, franchisees and healthcare partners.
During the quarter, Thyrocare had 12,911 active franchisees, supporting its presence across India’s diagnostic services market.
The company is also expanding its specialty diagnostics portfolio. Following its entry into allergy testing and genomics, including the launch of non-invasive prenatal testing (NIPT), Thyrocare plans to progressively broaden its test offerings.
The company said its strategy focuses on scientific rigour, diagnostic quality and turnaround times as it expands into specialised testing services.
₹45 Crore Impairment Charge Relates to Proposed Nuclear Imaging Divestment
Thyrocare recognised a one-time, non-cash impairment charge of ₹45 crore relating to its Nuclear Healthcare Limited (NHL) business. The charge was recorded in the consolidated financial statements in connection with a definitive term sheet for the proposed sale of the business.
According to the company, the impairment charge does not affect its operational performance. Thyrocare has also initiated a postal ballot seeking shareholder approval for the proposed divestment of its Nuclear Imaging business.
The proposed transaction is intended to enable the company to concentrate its resources on its Pathology business, which management considers to offer stronger growth prospects, higher margins and better return on capital employed.
The divestment remains subject to the applicable approval process.
Quality and Operational Efficiency Remain in Focus
Alongside its financial growth, Thyrocare reported improvements in quality indicators during the quarter. Customer complaints declined 24% YoY to 2.9 per million, while the average turnaround time (ATAT) stood at 3.49 hours from sample receipt.
The company said its focus on operational efficiency, network expansion and affordable diagnostic services remains central to its growth strategy.
Thyrocare aims to maintain consistent service quality while increasing testing volumes and expanding access to diagnostic services across underserved regions.
Thyrocare Expands into Home Testing and Point-of-Care Diagnostics
Thyrocare has also entered the home-testing category with the launch of a pregnancy test kit that delivers results in five minutes. The company describes it as India’s first pregnancy test kit backed by a confirmatory laboratory test.
Actress Yami Gautam has been onboarded as the product’s brand ambassador to support consumer awareness and outreach.
The product has been launched with support from Ascent, another company within the API Holdings group, and is already available through more than 10,000 chemist outlets, according to the company.
Thyrocare is also preparing to expand its presence in point-of-care diagnostic devices. The initiative is intended to bring diagnostic solutions closer to consumers through pharmacy and other healthcare channels.
Commenting on the quarterly performance, Rahul Guha, Managing Director and CEO of Thyrocare Technologies Limited, said the company had delivered strong results through its focus on operational efficiency, network expansion and value-driven diagnostics.
He also highlighted the company’s expansion into allergy testing and genomics, along with plans to broaden its specialty test menu. Guha added that Thyrocare continues to strengthen its franchise and partner networks while exploring opportunities in point-of-care devices, with the aim of expanding access through major chemist outlets.
About Thyrocare Technologies Limited
Thyrocare Technologies Limited (NSE: THYROCARE; BSE: 539871) operates a diagnostic laboratory network in India, providing affordable diagnostic and screening services to patients, healthcare providers, wellness companies, insurance businesses, hospitals, laboratories and other institutional clients.
The company offers a range of diagnostic tests through its laboratory infrastructure and nationwide franchise network. Its quality credentials include ISO 9001:2015 certification, National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation and College of American Pathologists (CAP) accreditation.
With continued growth in testing volumes, an expanding specialty diagnostics portfolio and a proposed strategic shift towards Pathology, Thyrocare is seeking to strengthen its position in India’s diagnostic services industry.
