Thyrocare reported strong Q3 FY26 results, with revenue up 18% year-on-year, driven by pathology business growth of 20%. The company emphasized its focus on customer success, network expansion, and menu innovation. Key achievements include Madhuri Dixit as brand ambassador, Six Sigma level quality, expansion of lab network, and the launch of allergy panels in Aarogyam packages. They are also quoting Nelson Mandela, seemingly related to expansion into Africa.
Financial Performance
Thyrocare demonstrated solid financial results in Q3 FY26:
- Consolidated Revenue: Increased by 18% year-on-year to ₹196 crores.
- Pathology Business: Grew by 20% year-on-year.
- Gross Margin: Stood at 75%, a 300 basis points increase.
- Normalized EBITDA Margin: Reached 34%, up 31% year-on-year.
- EPS: Increased by 39% to ₹1.64.
Key Business Updates
Several strategic initiatives and business updates were highlighted:
- Franchisee Network: Active quarterly franchisees increased to 10,300.
- Partnerships Business: Achieved 39% year-on-year growth, driven by health tech clients and API PharmEasy partnership growing at 30% year-on-year.
- Test Volumes: Processed 49.6 million tests, a 22% year-on-year increase and served 4.5 million patients, up 14%.
Strategic Initiatives
Thyrocare is focused on several strategic priorities:
- Quality: Achieved Six Sigma level quality, reducing complaints per million tests to 3.2, down 43% year-on-year.
- Menu Expansion: Launched a 100-plus SKU menu for tests based on the Phadia platform and also started allergy panels free of cost in the highest selling Aarogyam packages.
- Expansion: Lab network now stands at 39 labs in India and 1 in Tanzania.
Future Outlook
Thyrocare continues to focus on being a B2B partner and aims to sustain mid-teens growth with emphasis on customer success, network expansion, and menu innovation.
Source: BSE
