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Thyrocare Technologies reported strong Q2 FY'26 results, with consolidated revenue at a record INR217 Cr (up 22% YoY) and PAT surging 82%. Standalone normalized EBITDA margin climbed to 36% (+470 bps YoY), driven by operational efficiencies and a favorable product mix. The Board has announced a 2:1 bonus share issue and an interim dividend of INR7 per share.
The company processed 53.3 million tests (+21% YoY) and expanded its active franchisee network to over 10,100, highlighting robust non-COVID growth (19% CAGR over four years). Management emphasized its B2B strategy, focusing on affordable, quality diagnostics and deeper penetration into Tier 3 cities. Operational highlights include achieving 100% NABL accreditation, reducing turnaround times to 3.52 hours, and integrating labs. The emerging GLP-1 drugs segment is identified as a significant future opportunity for diagnostics. Thyrocare remains debt-free with over INR190 Cr in cash and cash equivalents. The management maintains a confident outlook, focusing on customer value and strategic expansion.