Vijay Singh
Thyrocare Reports Strong Q2FY27 Results – Revenue Up 25.1%, PAT before Exceptional Items Up 25.7%
Navi Mumbai (Maharashtra) [India], October 29: Thyrocare Technologies Limited (hereinafter referred to as “Thyrocare” NSE: THYROCARE, BSE: 539871), a leading healthcare diagnostics company, today announced its results for the quarter ended September 30, 2026. The Company delivered a robust performance in Q2FY27, with consolidated revenue of ₹270.8 crore, up 25.1% year-on-year, led by continued momentum in the Pathology segment, which grew 26.7% YoY. EBITDA rose 24.9% YoY to ₹89.3 crore. PAT before exceptional items surged 25.7% YoY to ₹60.2 crore, underscoring the Company’s focus on profitable growth.
Exceptional items comprise a one-time, non-cash impairment charge of ₹45 crore relating to NHL, recognised in the consolidated financial statements in connection with the definitive term sheet for the proposed sale of the NHL business. This charge has no impact on the Company’s operational performance. Thyrocare has issued a postal ballot seeking shareholders’ approval for the proposed divestment of its Nuclear Imaging business, enabling the Company to sharpen its focus and allocate capital towards its Pathology business, which offers a stronger growth trajectory, higher margins and better return on capital employed (ROCE).
Thyrocare, India’s largest diagnostic test volume processor, further strengthened its leadership position during the quarter, processing 61.6 million tests, up 27.4% year-on-year. The Pathology business maintained strong traction, with franchise revenue up 26.9% and partnership revenue up 27.9% year-on-year.
Thyrocare’s commitment to quality continued to deliver Six Sigma-level performance, with complaints reduced to 2.9 per million (down 24% YoY) and an average turnaround time (ATAT) of 3.49 hours from sample receipt.
Thyrocare continued its expansion into specialty diagnostics, marking the next phase of its growth journey. Having commenced with allergy and genomics, the Company is progressively expanding its specialty test portfolio, with a focus on building clinical trust through scientific rigour, uncompromising quality and industry-leading turnaround times.
Thyrocare also launched its Pregnancy Test Kit, a rapid home-testing solution that delivers results in just five minutes and is the first kit in India backed by a confirmatory lab test. The Company has onboarded actress Yami Gautam as brand ambassador to strengthen awareness and consumer outreach for this product. We have launched this with the help of our API Holdings group company Ascent and are already present in more than 10,000 chemists.
“Thyrocare reported a strong performance this quarter, driven by continued focus on operational efficiency, network expansion, and value-driven diagnostics. During the period, we also strengthened our specialty portfolio with the addition of allergy testing and entry into genomics through the launch of NIPT, with a phased expansion of the test menu underway. Thyrocare continues to expand its reach in underserved regions and scale its franchise and partner network, while remaining committed to delivering high-quality, affordable healthcare services across India. I am particularly excited about our foray into Point of Care devices with a unique proposition and soon hope to be present in all major chemist outlets.” – Rahul Guha, MD & CEO, Thyrocare Technologies Ltd.
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