Thyrocare Technologies Ltd - Stock Valuation and Financial Performance

BSE: 539871 | NSE: THYROCARE | Hospital & Healthcare Services | Small Cap

Thyrocare Tech. Share Price

575.75 14.30 2.55%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Thyrocare Tech.

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Thyrocare Technologies stock performance -

mw4me loader
P/E Ratio (CD):
47.81
Market Cap:
3,135.9 Cr.
52-wk low:
416
52-wk high:
722

Is Thyrocare Technologies Ltd an attractive stock to invest in?

1. Is Thyrocare Technologies Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Thyrocare Technologies Ltd is a good quality company.

2. Is Thyrocare Technologies Ltd undervalued or overvalued?

The key valuation ratios of Thyrocare Technologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Thyrocare Technologies Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Thyrocare Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Thyrocare Tech.:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Thyrocare Technologies Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%14.5%15.2%16%21.3%18.6%22.6%26.9%33.5%12.3%-
Value Creation
Index
NA0.00.10.10.50.30.60.91.4-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 0183241304356403434495589527554
Sales YoY Gr.-NA31.7%26.3%17.1%13.1%7.8%13.9%19.1%-10.6%-
Adj EPS 08.99.511.516.915.51720.129.711.712.4
YoY Gr.-NA6.9%21.1%46.8%-8.6%9.9%18.4%47.9%-60.7%-
BVPS (₹) 054.567.6758281.768.780.398.9100.194.6
Adj Net
Profit
04551.16290.981.689.810615761.866
Cash Flow from Ops. 034.567.889.6107100168115113129-
Debt/CF from Ops. 0000.1000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA8.1%6.6%-10.6%
Adj EPS NA-7.1%-11.7%-60.7%
BVPSNA4.1%13.4%1.2%
Share Price - 1.7% -12.8% 36.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
016.315.91621.418.622.426.83311.712.7
Op. Profit
Mgn %
039.939.138.340.938.34034.74023.423.2
Net Profit
Mgn %
02421.220.425.520.220.621.826.711.511.9
Debt to
Equity
0000000000-
Working Cap
Days
0060514442475915426677
Cash Conv.
Cycle
001919151337315854

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 12.70%

Sales growth has been subdued in last 3 years 6.64%

Net Profit has been subdued in last 3 years -11.74%

Sales growth is not so good in last 4 quarters at 6.13%

Latest Financials - Thyrocare Technologies Ltd.

Standalone Consolidated
TTM EPS (₹) 11.7 12.4
TTM Sales (₹ Cr.) 508 554
BVPS (₹.) 92 94.6
Reserves (₹ Cr.) 434 448
P/BV 6.43 6.26
PE 50.71 47.81
From the Market
52 Week Low / High (₹) 416.00 / 722.00
All Time Low / High (₹) 406.65 / 1465.90
Market Cap (₹ Cr.) 3,136
Equity (₹ Cr.) 53
Face Value (₹) 10
Industry PE 83.6

Management X-Ray of Thyrocare Tech.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Thyrocare Tech.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales183241304356403434495589527
Operating Expenses 110147189212249261323353404
Manufacturing Costs81113121619172330
Material Costs56708195111117164170163
Employee Cost 1726323543495861106
Other Costs 2940626979768499105
Operating Profit 7394115145154174171236123
Operating Profit Margin (%) 39.7%39.0%37.9%40.6%38.3%40.0%34.6%40.0%23.3%
Other Income 87122310712298
Interest 010012135
Depreciation 131818202632303439
Exceptional Items 00-27-20-7000
Profit Before Tax 68828214513814015222889
Tax 243039525352395224
Profit After Tax 44524393858811317664
PAT Margin (%) 24.1%21.5%14.1%26.2%21.1%20.4%22.9%29.9%12.2%
Adjusted EPS (₹)9.09.68.017.416.216.821.133.312.5
Dividend Payout Ratio (%)42%104%125%57%124%30%118%45%145%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 276363403440431363424523530
Share Capital 515454545353535353
Reserves 225309349387378310371470477
Minority Interest3600000001
Debt007033000
Long Term Debt007033000
Short Term Debt000000000
Trade Payables1217822251724
Others Liabilities 16422327288291308280
Total Liabilities 328407434474470469540848835

Fixed Assets

Gross Block237318277336355359366423461
Accumulated Depreciation415918376190113138167
Net Fixed Assets196259259299294269253285294
CWIP 6117015832
Investments 86931041209590126146144
Inventories71114171821232528
Trade Receivables586101216459385
Cash Equivalents 51012121011161428
Others Assets24252116395769282254
Total Assets 328407434474470469540848835

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 346890107100168115113129
PBT 68828214513714615322887
Adjustment 6174392432232165
Changes in Working Capital -17162-134-18-796
Tax Paid -23-32-40-49-61-45-43-57-28
Cash Flow From Investing Activity -18-18-42-43-121-49-24-39
Capex -10-14-36-44-39-10-21-15-42
Net Investments 46-7-10-42610-32-91
Others -5435421511
Cash Flow From Financing Activity -23-45-49-64-94-165-62-89-86
Net Proceeds from Shares 000000000
Net Proceeds from Borrowing 000030000
Interest Paid 0000000-20
Dividend Paid -19-38-40-54-27-132-53-79-79
Others -4-7-8-10-69-33-9-8-7
Net Cash Flow -6500-54404
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)15.9816.2211.1922.1219.5322.2628.7537.1812.23
ROCE (%)24.5725.6621.0433.8931.4835.2738.5148.4217.61
Asset Turnover Ratio0.560.660.720.790.850.930.980.850.63
PAT to CFO Conversion(x)0.771.312.091.151.181.911.020.642.02
Working Capital Days
Receivable Days109881012234362
Inventory Days151415161616161518
Payable Days577152346524545

Thyrocare Technologies Ltd Stock News

Thyrocare Technologies Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Thyrocare Tech. on 28-Mar-2024 16:01 is ₹575.8.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Thyrocare Tech. stood at ₹3,135.9.
The latest P/E ratio of Thyrocare Tech. as of 28-Mar-2024 16:01 is 50.71.
The latest P/B ratio of Thyrocare Tech. as of 28-Mar-2024 16:01 is 6.43.
The 52-week high of Thyrocare Tech. is ₹722.0 and the 52-week low is ₹416.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Thyrocare Tech. is ₹507.6 ( Cr.) .

About Thyrocare Technologies Ltd

Thyrocare Technologies Ltd. is India's first and most advanced Totally Automated Laboratory having its strong presence in several cities / towns in India and internationally. Thyrocare is India's first fully automated diagnostic laboratory with a focus on providing quality at affordable costs to laboratories and hospitals in India and other countries. Thyrocare operates with a Centralized Processing Laboratory (CPL) in Mumbai - India for esoteric tests; and Regional Processing Laboratory in major metro cities of India and other parts of Asia. It has focus on strong technologies, strong brands and strong systems that enable all laboratories to give their clients the best of science and technology at an affordable cost. Thyrocare became one of the first Indian diagnostic laboratories to obtain internationally renowned quality accreditations like ISO 9001-2000 rating as early as 2001, which is now escalated to ISO 9001:2008 and CAP (College of American Pathologists) certification in 2007.

Business area of the company

Thyrocare Technologies is an India-based healthcare service provider. The Company operates with a centralized processing laboratory (CPL) in Mumbai, India for esoteric tests, and regional processing laboratory in metro cities of India and other parts of Asia. The Company offers technologies, including Chemiluminescence Immunoassay (CLIA), Enzyme Linked Immunosorbent Assay (ELISA), High Performance Liquid Chromatography (HPLC), Capillary Electrophoresis (CE), Ion Selective Electrode (ISE), Fluorescence Flow Cytometry, Nephelometry, Photometry, Liquid Chromatography Mass Spectrometry (LC-MS), Inductively Coupled Plasma-Mass Spectrometry (ICP-MS) and Cytogenetics. The Company offers cancer diagnosis and water testing through its brands Nueclear and Whaters, respectively.

Major events and milestones

  • 2000: The company was incorporated in the name and style of ‘Thyrocare Technologies Limited’ and received a certificate for commencement of operations.
  • 2001: The company received ISO 9001 certification.
  • 2001: The company commenced commercial operations under the brand name ‘Thyrocare’ pursuant to the acquisition of business of TDPL and TBPL (which were incorporated in 1996).
  • 2005: The company received NABL accreditation.
  • 2006: The company issued certain fully convertible debentures aggregating to Rs 250 million to BCCL.
  • 2007: The company receives accreditation from the College of American Pathologists (CAP).
  • 2010: The company issued certain compulsorily convertible debentures aggregating to Rs 250 million to Agalia. Agalia also acquired certain Equity Shares aggregating to Rs 1,250 million from its Promoters and certain other persons.
  • 2010: The company launched wellness packages under the brand name ‘Aarogyam’.
  • 2011: The company migrated to ‘total laboratory automation system’ installed by Siemens for efficient handling of increasing volumes.
  • 2012: NVP acquired certain Equity Shares aggregating to Rs 1,200 million from certain entities.
  • 2013: EIF acquired certain Equity Shares from Agalia.
  • 2013: The company’s subsidiary commenced operations at the PET-CT centres at Navi Mumbai and conducted over 1,000 scans in the first year of operation.
  • 2014: The company had installed, India’s first and the world’s longest track automation system for seamless sample movements from Siemens Limited.
  • 2014: The company commissioned the operations in medical cyclotron facility in Navi Mumbai.
  • 2014: The company’s subsidiary commenced operations at the PET-CT centres in New Delhi and Hyderabad and the PET-CT centres at New Delhi conducted over 1,000 scans in the first year of operations.
  • 2015: The company opened RPLs in Delhi, Coimbatore, Hyderabad and Kolkata to expand its coverage and volume of tests and samples processed daily.
  • 2015: The company acquired the equipment for testing of water samples and commenced operating the equipment under the brand name ‘WHATERS’. These tests, at present, include physical and chemical testing, elements testing, microbiology testing, pesticide testing and volatile organic compounds testing.
  • 2015: The company’s subsidiary has completed over 10,000 scans at the PET-CT centres in New Delhi, over 10,000 scans at the PET-CT centres in Navi Mumbai from the date of inception and over 1,000 scans at the PET-CT centres in Hyderabad since inception.
  • 2015: The Company opened RPLs in Delhi, Coimbatore, Hyderabad and Kolkata to expand its coverage and volume of tests and samples processed daily.
  • 2015: The Company acquired the equipment for testing of water samples and commenced operating the equipment under the brand name ''WHATERS''. These tests, at present include physical and chemical testing, elements testing, microbiology testing, pesticide testing and volatile organic compounds testing.
  • 2015: The Subsidiary has completed over 10,000 scans at the PET-CT centres in New Delhi, over 10,000 scans at the PET-CT centres in Navi Mumbai from the date of inception and over 1,000 scans at the PET-CT centres in Hyderabad since inception.
  • 2016: Thyrocare Technologies are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities.
  • 2016: Entered the Public listed sphere of healthcare – IPO.
  • 2016: Launched 2 new RPLs and NGSP Certification:- Certified with National Glycohemoglobin Standardization Program Certification (NGSP) for HbA1c Testing, and Launched 2 Regional Processing Laboratories- Bhopal and Bangalore, with state-of-the-art automations efficient as CPL, controlled via a centralized server.
  • 2016: Aarogyam Today:  Launched a second monthly publication addressing daily health concerns - Aarogyam Today.
  • 2016: Launched IFA (Immunofluorescence) for Autoimmunity testing.
  • 2017:  Launched Molecular Biology Division (PCR).
  • 2018: Patna Regional Processing Laboratory (RRL) was launched.
  • 2018: Last Mile Executive (LMEs) pickup service started in 15 plus cities.
  • 2018: Thyrocare and Thyroshop Mobile App were launched.
  • 2020: Thyrocare Technologies launching Blood-based Cancer Screening Profile.
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