Thyrocare Technologies is engaged in the business of healthcare industry and is involved in providing quality diagnostic services at affordable costs to patients, laboratories and hospitals in India. Presenting below are its Q2 FY26 earnings results.
Q2 FY26 Earnings Results
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Revenue from operations: ₹216.5 crore, up 22% YoY from ₹177.4 crore in Q2 FY25; up 12% QoQ from ₹193 crore in Q1 FY26.
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Net Profit (PAT): ₹48 crore, up 80% YoY, up 25% QoQ from ₹38.3 crore in Q1 FY26.
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EBITDA: ₹71.5 crore, up 48% YoY; EBITDA margin at 33%, up from 27% in Q2 FY25.
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Number of tests processed: 53.3 million, up 21% YoY.
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Franchise revenue: Up 20% YoY; Partnership revenue: Up 35% YoY.
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Profit before tax: ₹62.6 crore, up 70% YoY.
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Balance sheet: Remains debt-free with over ₹190 crore in net cash and short-term investments.
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Dividend: Interim dividend of ₹7 per share, record date October 24, 2025.
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Bonus issue: First-ever 2:1 bonus share issue approved (two bonus shares for every one share held).
Management Commentary & Strategic Decisions
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Thyrocare reinforced its leadership position in the diagnostics sector, with management emphasizing continued investment in regional labs and infrastructure for deeper PAN-India coverage.
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Four new labs were launched in Vijayawada, Bhagalpur, Roorkee, and Kashmir during the quarter, expanding access and regional reach.
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Focus remains on efficient, technology-driven processes and partnership-driven expansion, particularly in franchise and allied networks.
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Strategic emphasis is on affordable, high-quality testing services, leveraging India’s largest automated diagnostic platform and targeting volume scalability.
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Board reiterated commitment to shareholder value through both the bonus issue and generous dividend payouts.
Q1 FY26 Earnings Results
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Revenue from operations: ₹193 crore, up 23% YoY compared to ₹156.9 crore in Q1 FY25.
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Net Profit (PAT): ₹38.1 crore, up 58-62% YoY from a base of ₹24 crore; PAT margin 20%.
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EBITDA: ₹57.5 crore, up 37% YoY; EBITDA margin improved to 30% from 27% YoY.
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Total tests processed: 46.9 million, up 15% YoY.
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Pathology segment: Up 25% YoY; Radiology up 6% YoY.
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Profit before tax: ₹50.5 crore, up 50% YoY from ₹33.6 crore in Q1 FY25.
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Major cost growth areas: Employee and material costs increased, but gross margin stable at 71%.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.