Thyrocare Technologies Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: May 3, 2025, 9:00 pm

Market Cap	4,750 Cr.
Current Price	896
High / Low	1,055/571
Stock P/E	49.6
Book Value	101
Dividend Yield	2.01 %
ROCE	27.6 %
ROE	18.2 %
Face Value	10.0
PEG Ratio	-10.02

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Thyrocare Technologies Ltd

Competitors of Thyrocare Technologies Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
NG Industries Ltd	53.0 Cr.	158	206/145	4.37	124	2.21 %	6.50 %	5.63 %	10.0
Global Longlife Hospital and Research Ltd	24.3 Cr.	23.2	46.4/18.3	122	25.5	0.00 %	0.98 %	0.77 %	10.0
Gian Lifecare Ltd	17.2 Cr.	16.6	27.0/12.1	4.20	19.2	0.00 %	29.2 %	24.6 %	10.0
Fortis Malar Hospitals Ltd	143 Cr.	76.4	98.7/51.0	186	15.9	55.6 %	3.29 %	9.12 %	10.0
Family Care Hospitals Ltd	25.6 Cr.	4.74	9.50/3.40	0.67	2.67	0.00 %	15.4 %	24.1 %	10.0
Industry Average	24,117.43 Cr	701.59		60.72	87.90	2.67%	12.25%	11.61%	9.08

All Competitor Stocks of Thyrocare Technologies Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	110	123	119	125	117	125	124	136	123	141	144	163	153
Expenses	74	86	85	96	91	102	90	100	92	108	101	114	112
Operating Profit	36	37	34	30	26	23	33	37	31	34	42	49	40
OPM %	33%	30%	28%	24%	22%	18%	27%	27%	25%	24%	29%	30%	26%
Other Income	1	2	1	1	1	2	0	2	2	3	3	2	4
Interest	1	1	1	1	1	1	1	1	1	1	1	1	0
Depreciation	7	9	8	8	9	9	9	9	11	10	9	10	15
Profit before tax	29	29	27	22	18	15	24	28	21	25	35	40	28
Tax %	22%	31%	24%	35%	28%	33%	31%	28%	28%	23%	28%	27%	32%
Net Profit	23	20	20	14	13	10	17	20	15	19	25	30	19
EPS in Rs	4.27	3.85	3.80	2.70	2.39	1.88	3.16	3.83	2.81	3.63	4.75	5.59	3.60

Last Updated: February 28, 2025, 4:35 pm

Below is a detailed analysis of the quarterly data for Thyrocare Technologies Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is 153.00 Cr.. The value appears to be declining and may need further review. It has decreased from 163.00 Cr. (Sep 2024) to 153.00 Cr., marking a decrease of 10.00 Cr..
For Expenses, as of Dec 2024, the value is 112.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 114.00 Cr. (Sep 2024) to 112.00 Cr., marking a decrease of 2.00 Cr..
For Operating Profit, as of Dec 2024, the value is 40.00 Cr.. The value appears to be declining and may need further review. It has decreased from 49.00 Cr. (Sep 2024) to 40.00 Cr., marking a decrease of 9.00 Cr..
For OPM %, as of Dec 2024, the value is 26.00%. The value appears to be declining and may need further review. It has decreased from 30.00% (Sep 2024) to 26.00%, marking a decrease of 4.00%.
For Other Income, as of Dec 2024, the value is 4.00 Cr.. The value appears strong and on an upward trend. It has increased from 2.00 Cr. (Sep 2024) to 4.00 Cr., marking an increase of 2.00 Cr..
For Interest, as of Dec 2024, the value is 0.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 1.00 Cr. (Sep 2024) to 0.00 Cr., marking a decrease of 1.00 Cr..
For Depreciation, as of Dec 2024, the value is 15.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 10.00 Cr. (Sep 2024) to 15.00 Cr., marking an increase of 5.00 Cr..
For Profit before tax, as of Dec 2024, the value is 28.00 Cr.. The value appears to be declining and may need further review. It has decreased from 40.00 Cr. (Sep 2024) to 28.00 Cr., marking a decrease of 12.00 Cr..
For Tax %, as of Dec 2024, the value is 32.00%. The value appears to be increasing, which may not be favorable. It has increased from 27.00% (Sep 2024) to 32.00%, marking an increase of 5.00%.
For Net Profit, as of Dec 2024, the value is 19.00 Cr.. The value appears to be declining and may need further review. It has decreased from 30.00 Cr. (Sep 2024) to 19.00 Cr., marking a decrease of 11.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 3.60. The value appears to be declining and may need further review. It has decreased from 5.59 (Sep 2024) to 3.60, marking a decrease of 1.99.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 2:35 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	134	150	180	235	298	332	370	401	474	562	486	524	600
Expenses	71	81	109	140	182	193	222	233	304	330	371	388	435
Operating Profit	64	69	71	95	115	139	148	168	171	232	115	136	165
OPM %	47%	46%	40%	40%	39%	42%	40%	42%	36%	41%	24%	26%	27%
Other Income	18	7	13	6	-16	21	14	-35	12	7	5	6	12
Interest	0	0	0	1	0	0	0	1	1	3	5	5	3
Depreciation	3	6	11	11	12	12	14	20	21	28	34	39	45
Profit before tax	78	69	73	89	87	148	147	112	161	207	81	98	128
Tax %	27%	33%	33%	34%	46%	35%	35%	29%	26%	27%	30%	28%
Net Profit	57	46	49	59	47	96	95	79	120	152	57	71	93
EPS in Rs	52.04	42.28	9.75	10.94	8.69	17.87	18.04	15.01	22.65	28.74	10.76	13.43	17.57
Dividend Payout %	0%	0%	157%	91%	115%	56%	111%	33%	110%	52%	167%	134%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-19.30%	6.52%	20.41%	-20.34%	104.26%	-1.04%	-16.84%	51.90%	26.67%	-62.50%	24.56%
Change in YoY Net Profit Growth (%)	0.00%	25.82%	13.89%	-40.75%	124.59%	-105.30%	-15.80%	68.74%	-25.23%	-89.17%	87.06%

Thyrocare Technologies Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	13%
5 Years:	10%
3 Years:	4%
TTM:	21%

Compounded Profit Growth
10 Years:	7%
5 Years:	-2%
3 Years:	-14%
TTM:	39%

Stock Price CAGR
10 Years:	%
5 Years:	13%
3 Years:	6%
1 Year:	42%

Return on Equity
10 Years:	20%
5 Years:	20%
3 Years:	14%
Last Year:	18%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:42 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	11	11	51	54	54	54	53	53	53	53	53	53	53
Reserves	149	195	229	322	364	400	403	325	393	468	468	461	426
Borrowings	25	25	0	0	0	0	0	9	10	21	21	39	17
Other Liabilities	11	14	14	39	26	31	32	55	73	55	70	68	84
Total Liabilities	197	246	293	414	444	485	488	442	528	597	612	620	581
Fixed Assets	75	87	83	93	89	103	108	112	119	149	157	159	151
CWIP	10	6	6	1	2	0	1	4	8	2	1	1	1
Investments	77	119	162	266	299	315	289	239	274	259	274	291	236
Other Assets	34	33	42	55	54	68	89	88	127	186	180	169	193
Total Assets	197	246	293	414	444	485	488	442	528	597	612	620	581

Below is a detailed analysis of the balance sheet data for Thyrocare Technologies Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹53.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 53.00 Cr..
For Reserves, as of Sep 2024, the value is ₹426.00 Cr.. The value appears to be declining and may need further review. It has decreased from 461.00 Cr. (Mar 2024) to ₹426.00 Cr., marking a decrease of 35.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹17.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 39.00 Cr. (Mar 2024) to ₹17.00 Cr., marking a decrease of 22.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹84.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 68.00 Cr. (Mar 2024) to ₹84.00 Cr., marking an increase of 16.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹581.00 Cr.. The value appears to be improving (decreasing). It has decreased from 620.00 Cr. (Mar 2024) to ₹581.00 Cr., marking a decrease of 39.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹151.00 Cr.. The value appears to be declining and may need further review. It has decreased from 159.00 Cr. (Mar 2024) to ₹151.00 Cr., marking a decrease of 8.00 Cr..
For CWIP, as of Sep 2024, the value is ₹1.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 1.00 Cr..
For Investments, as of Sep 2024, the value is ₹236.00 Cr.. The value appears to be declining and may need further review. It has decreased from 291.00 Cr. (Mar 2024) to ₹236.00 Cr., marking a decrease of 55.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹193.00 Cr.. The value appears strong and on an upward trend. It has increased from 169.00 Cr. (Mar 2024) to ₹193.00 Cr., marking an increase of 24.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹581.00 Cr.. The value appears to be declining and may need further review. It has decreased from 620.00 Cr. (Mar 2024) to ₹581.00 Cr., marking a decrease of 39.00 Cr..

Notably, the Reserves (426.00 Cr.) exceed the Borrowings (17.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	46	36	67	89	112	97	136	111	106	120	155	191
Cash from Investing Activity +	-52	-21	-19	-40	-48	-3	27	-53	-12	-32	-80	-55
Cash from Financing Activity +	0	-23	-45	-48	-65	-96	-163	-58	-87	-88	-84	-124
Net Cash Flow	-6	-7	3	1	-1	-3	1	0	6	1	-9	12

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	39.00	44.00	71.00	95.00	115.00	139.00	148.00	159.00	161.00	211.00	94.00	97.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	9	12	9	11	7	10	11	14	34	60	63	28
Inventory Days	54	54	47	54	64	66	54	60	50	54	63	106
Days Payable	2	13	5	8	4	23	19	62	48	30	52	83
Cash Conversion Cycle	61	53	51	57	68	53	46	12	37	84	74	51
Working Capital Days	19	22	52	15	28	11	4	-9	9	49	39	25
ROCE %	50%	33%	27%	27%	29%	33%	31%	36%	37%	41%	15%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	71.18%	71.18%	71.18%	71.14%	71.14%	71.14%	71.14%	71.14%	71.11%	71.11%	71.11%	71.11%
FIIs	12.02%	12.68%	12.82%	10.42%	10.13%	9.99%	3.44%	3.46%	3.35%	2.90%	2.49%	1.93%
DIIs	6.71%	6.88%	7.15%	9.14%	8.68%	8.45%	13.46%	13.33%	13.89%	14.88%	14.89%	14.80%
Public	10.09%	9.26%	8.85%	9.29%	10.04%	10.40%	11.95%	12.08%	11.64%	11.11%	11.49%	12.16%
No. of Shareholders	65,769	66,315	66,431	71,412	75,822	74,386	76,292	72,000	68,844	64,823	61,636	59,377

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India Small Cap Fund	1,778,165	0.24	108.49	1,778,165	2025-04-22 17:25:17	0%
Nippon India Pharma Fund	1,765,838	1.56	107.74	1,765,838	2025-04-22 15:19:42	0%
ICICI Prudential India Opportunities Fund	1,184,131	0.45	72.25	1,184,131	2025-04-22 17:25:17	0%
ICICI Prudential Pharma Healthcare & Diagnostics (P.H.D) Fund	765,047	1.31	46.68	765,047	2025-04-22 15:19:42	0%
Nippon India Retirement Fund - Wealth Creation Scheme	321,903	0.67	19.64	321,903	2025-04-22 17:25:18	0%
ICICI Prudential Bharat Consumption Fund	230,281	0.64	14.05	230,281	2025-04-22 17:25:18	0%
ICICI Prudential Retirement Fund - Pure Equity	12,631	0.14	0.77	12,631	2025-04-22 15:19:42	0%
ICICI Prudential Retirement Fund - Hybrid Aggressive	1,186	0.02	0.07	1,186	2025-04-22 15:19:42	0%
Motilal Oswal S&P BSE Healthcare ETF	163	0.1	0.01	163	2025-04-22 17:25:18	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	13.42	12.16	33.30	21.41	16.74
Diluted EPS (Rs.)	13.40	12.14	33.25	21.37	16.71
Cash EPS (Rs.)	21.93	19.25	39.73	27.14	22.67
Book Value[Excl.RevalReserv]/Share (Rs.)	99.65	101.12	99.54	80.81	69.39
Book Value[Incl.RevalReserv]/Share (Rs.)	99.65	101.12	99.54	80.81	69.39
Revenue From Operations / Share (Rs.)	108.00	99.50	111.32	93.55	82.18
PBDIT / Share (Rs.)	27.72	24.27	49.93	34.74	34.11
PBIT / Share (Rs.)	18.85	16.96	43.53	29.02	28.07
PBT / Share (Rs.)	18.05	16.51	43.08	28.85	26.48
Net Profit / Share (Rs.)	13.05	11.94	33.33	21.41	16.63
NP After MI And SOA / Share (Rs.)	13.36	12.16	33.30	21.40	16.73
PBDIT Margin (%)	25.66	24.39	44.85	37.13	41.50
PBIT Margin (%)	17.44	17.04	39.10	31.01	34.15
PBT Margin (%)	16.71	16.59	38.70	30.83	32.21
Net Profit Margin (%)	12.08	11.99	29.94	22.89	20.23
NP After MI And SOA Margin (%)	12.37	12.22	29.91	22.87	20.35
Return on Networth / Equity (%)	13.43	12.04	33.45	26.48	24.11
Return on Capital Employeed (%)	18.03	16.15	42.39	34.03	38.11
Return On Assets (%)	10.98	10.17	28.98	20.73	18.77
Long Term Debt / Equity (X)	0.02	0.00	0.00	0.00	0.01
Total Debt / Equity (X)	0.04	0.00	0.00	0.00	0.01
Asset Turnover Ratio (%)	0.89	0.79	0.98	0.94	0.87
Current Ratio (X)	3.08	3.54	4.18	2.50	1.86
Quick Ratio (X)	2.55	3.18	3.80	2.26	1.61
Inventory Turnover Ratio (X)	4.38	5.82	6.80	7.44	6.03
Dividend Payout Ratio (NP) (%)	134.63	123.29	45.02	46.69	149.32
Dividend Payout Ratio (CP) (%)	80.89	76.98	37.76	36.84	109.71
Earning Retention Ratio (%)	-34.63	-23.29	54.98	53.31	-49.32
Cash Earning Retention Ratio (%)	19.11	23.02	62.24	63.16	-9.71
Interest Coverage Ratio (X)	34.95	54.67	111.45	211.14	97.43
Interest Coverage Ratio (Post Tax) (X)	17.45	27.89	75.40	131.14	52.06
Enterprise Value (Cr.)	3118.27	2246.85	4079.23	4758.17	2609.92
EV / Net Operating Revenue (X)	5.45	4.27	6.93	9.62	6.01
EV / EBITDA (X)	21.24	17.49	15.44	25.90	14.48
MarketCap / Net Operating Revenue (X)	5.48	4.32	6.95	9.65	6.03
Retention Ratios (%)	-34.63	-23.29	54.97	53.30	-49.32
Price / BV (X)	5.95	4.26	7.77	11.17	7.14
Price / Net Operating Revenue (X)	5.48	4.32	6.95	9.65	6.03
EarningsYield	0.02	0.02	0.04	0.02	0.03

After reviewing the key financial ratios for Thyrocare Technologies Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 13.42. This value is within the healthy range. It has increased from 12.16 (Mar 23) to 13.42, marking an increase of 1.26.
For Diluted EPS (Rs.), as of Mar 24, the value is 13.40. This value is within the healthy range. It has increased from 12.14 (Mar 23) to 13.40, marking an increase of 1.26.
For Cash EPS (Rs.), as of Mar 24, the value is 21.93. This value is within the healthy range. It has increased from 19.25 (Mar 23) to 21.93, marking an increase of 2.68.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 99.65. It has decreased from 101.12 (Mar 23) to 99.65, marking a decrease of 1.47.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 99.65. It has decreased from 101.12 (Mar 23) to 99.65, marking a decrease of 1.47.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 108.00. It has increased from 99.50 (Mar 23) to 108.00, marking an increase of 8.50.
For PBDIT / Share (Rs.), as of Mar 24, the value is 27.72. This value is within the healthy range. It has increased from 24.27 (Mar 23) to 27.72, marking an increase of 3.45.
For PBIT / Share (Rs.), as of Mar 24, the value is 18.85. This value is within the healthy range. It has increased from 16.96 (Mar 23) to 18.85, marking an increase of 1.89.
For PBT / Share (Rs.), as of Mar 24, the value is 18.05. This value is within the healthy range. It has increased from 16.51 (Mar 23) to 18.05, marking an increase of 1.54.
For Net Profit / Share (Rs.), as of Mar 24, the value is 13.05. This value is within the healthy range. It has increased from 11.94 (Mar 23) to 13.05, marking an increase of 1.11.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 13.36. This value is within the healthy range. It has increased from 12.16 (Mar 23) to 13.36, marking an increase of 1.20.
For PBDIT Margin (%), as of Mar 24, the value is 25.66. This value is within the healthy range. It has increased from 24.39 (Mar 23) to 25.66, marking an increase of 1.27.
For PBIT Margin (%), as of Mar 24, the value is 17.44. This value is within the healthy range. It has increased from 17.04 (Mar 23) to 17.44, marking an increase of 0.40.
For PBT Margin (%), as of Mar 24, the value is 16.71. This value is within the healthy range. It has increased from 16.59 (Mar 23) to 16.71, marking an increase of 0.12.
For Net Profit Margin (%), as of Mar 24, the value is 12.08. This value exceeds the healthy maximum of 10. It has increased from 11.99 (Mar 23) to 12.08, marking an increase of 0.09.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 12.37. This value is within the healthy range. It has increased from 12.22 (Mar 23) to 12.37, marking an increase of 0.15.
For Return on Networth / Equity (%), as of Mar 24, the value is 13.43. This value is below the healthy minimum of 15. It has increased from 12.04 (Mar 23) to 13.43, marking an increase of 1.39.
For Return on Capital Employeed (%), as of Mar 24, the value is 18.03. This value is within the healthy range. It has increased from 16.15 (Mar 23) to 18.03, marking an increase of 1.88.
For Return On Assets (%), as of Mar 24, the value is 10.98. This value is within the healthy range. It has increased from 10.17 (Mar 23) to 10.98, marking an increase of 0.81.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.02. This value is below the healthy minimum of 0.2. It has increased from 0.00 (Mar 23) to 0.02, marking an increase of 0.02.
For Total Debt / Equity (X), as of Mar 24, the value is 0.04. This value is within the healthy range. It has increased from 0.00 (Mar 23) to 0.04, marking an increase of 0.04.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.89. It has increased from 0.79 (Mar 23) to 0.89, marking an increase of 0.10.
For Current Ratio (X), as of Mar 24, the value is 3.08. This value exceeds the healthy maximum of 3. It has decreased from 3.54 (Mar 23) to 3.08, marking a decrease of 0.46.
For Quick Ratio (X), as of Mar 24, the value is 2.55. This value exceeds the healthy maximum of 2. It has decreased from 3.18 (Mar 23) to 2.55, marking a decrease of 0.63.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 4.38. This value is within the healthy range. It has decreased from 5.82 (Mar 23) to 4.38, marking a decrease of 1.44.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 134.63. This value exceeds the healthy maximum of 50. It has increased from 123.29 (Mar 23) to 134.63, marking an increase of 11.34.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 80.89. This value exceeds the healthy maximum of 50. It has increased from 76.98 (Mar 23) to 80.89, marking an increase of 3.91.
For Earning Retention Ratio (%), as of Mar 24, the value is -34.63. This value is below the healthy minimum of 40. It has decreased from -23.29 (Mar 23) to -34.63, marking a decrease of 11.34.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 19.11. This value is below the healthy minimum of 40. It has decreased from 23.02 (Mar 23) to 19.11, marking a decrease of 3.91.
For Interest Coverage Ratio (X), as of Mar 24, the value is 34.95. This value is within the healthy range. It has decreased from 54.67 (Mar 23) to 34.95, marking a decrease of 19.72.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 17.45. This value is within the healthy range. It has decreased from 27.89 (Mar 23) to 17.45, marking a decrease of 10.44.
For Enterprise Value (Cr.), as of Mar 24, the value is 3,118.27. It has increased from 2,246.85 (Mar 23) to 3,118.27, marking an increase of 871.42.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 5.45. This value exceeds the healthy maximum of 3. It has increased from 4.27 (Mar 23) to 5.45, marking an increase of 1.18.
For EV / EBITDA (X), as of Mar 24, the value is 21.24. This value exceeds the healthy maximum of 15. It has increased from 17.49 (Mar 23) to 21.24, marking an increase of 3.75.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 5.48. This value exceeds the healthy maximum of 3. It has increased from 4.32 (Mar 23) to 5.48, marking an increase of 1.16.
For Retention Ratios (%), as of Mar 24, the value is -34.63. This value is below the healthy minimum of 30. It has decreased from -23.29 (Mar 23) to -34.63, marking a decrease of 11.34.
For Price / BV (X), as of Mar 24, the value is 5.95. This value exceeds the healthy maximum of 3. It has increased from 4.26 (Mar 23) to 5.95, marking an increase of 1.69.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 5.48. This value exceeds the healthy maximum of 3. It has increased from 4.32 (Mar 23) to 5.48, marking an increase of 1.16.
For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Thyrocare Technologies Ltd as of May 3, 2025 is: 744.06

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of May 3, 2025, Thyrocare Technologies Ltd is Overvalued by 16.96% compared to the current share price 896.00

Intrinsic Value of Thyrocare Technologies Ltd as of May 3, 2025 is: 707.21

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of May 3, 2025, Thyrocare Technologies Ltd is Overvalued by 21.07% compared to the current share price 896.00

Last 5 Year EPS CAGR: -4.95%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 31.42%, which is a positive sign. The stock has a low average Working Capital Days of 22.00, which is a positive sign. The company has higher reserves (354.08 cr) compared to borrowings (12.85 cr), indicating strong financial stability. The company has shown consistent growth in sales (365.08 cr) and profit (113.69 cr) over the years.	The stock has a high average Cash Conversion Cycle of 53.92, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Thyrocare Technologies Ltd:
1. Net Profit Margin: 12.08%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 18.03% (Industry Average ROCE: 12.25%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 13.43% (Industry Average ROE: 11.61%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 17.45
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 2.55
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 49.6 (Industry average Stock P/E: 60.72)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.04
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Thyrocare Technologies Ltd. is a Public Limited Listed company incorporated on 28/01/2000 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L85110MH2000PLC123882 and registration number is 123882. Currently Company is involved in the business activities of Other human health activities. Company's Total Operating Revenue is Rs. 633.10 Cr. and Equity Capital is Rs. 52.99 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Hospitals & Medical Services	D/37-1, TTC Industrial Area, New Mumbai Maharashtra 400703	investor_relations@thyrocare.com http://www.thyrocare.com

Management
Name	Position Held
Mr. Rahul Guha	Managing Director & CEO
Mr. Dharmil Sheth	Non Executive Director
Mr. Hardik Dedhia	Non Executive Director
Mr. Dhaval Shah	Non Executive Director
Mr. Gopalkrishna Shivram Hegde	Independent Director
Dr. Indumati Gopinathan	Independent Director
Dr. Neetin S Desai	Independent Director
Dr. Prapti Gilada	Independent Director
Dr. Harshil Vora	Independent Director
Mr. Nishant A Shah	Independent Director
Mr. Anandh Sundar	Independent Director

FAQ

What is the intrinsic value of Thyrocare Technologies Ltd?

Thyrocare Technologies Ltd's intrinsic value (as of 03 May 2025) is ₹744.06 — 16.96% lower the current market price of 896.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 4,750 Cr. market cap, FY2025-2026 high/low of ₹1,055/571, reserves of 426 Cr, and liabilities of 581 Cr.

What is the Market Cap of Thyrocare Technologies Ltd?

The Market Cap of Thyrocare Technologies Ltd is 4,750 Cr..

What is the current Stock Price of Thyrocare Technologies Ltd as on 03 May 2025?

The current stock price of Thyrocare Technologies Ltd as on 03 May 2025 is 896.

What is the High / Low of Thyrocare Technologies Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Thyrocare Technologies Ltd stocks is ₹1,055/571.

What is the Stock P/E of Thyrocare Technologies Ltd?

The Stock P/E of Thyrocare Technologies Ltd is 49.6.

What is the Book Value of Thyrocare Technologies Ltd?

The Book Value of Thyrocare Technologies Ltd is 101.

What is the Dividend Yield of Thyrocare Technologies Ltd?

The Dividend Yield of Thyrocare Technologies Ltd is 2.01 %.

What is the ROCE of Thyrocare Technologies Ltd?

The ROCE of Thyrocare Technologies Ltd is 27.6 %.

What is the ROE of Thyrocare Technologies Ltd?

The ROE of Thyrocare Technologies Ltd is 18.2 %.

What is the Face Value of Thyrocare Technologies Ltd?

The Face Value of Thyrocare Technologies Ltd is 10.0.