# Thyrocare Technologies share price today (Thyrocare Technologies Ltd, NSE: THYROCARE)

> Thyrocare Technologies share price today: ₹482.90 at the NSE close on 3 November 2026, up 3.7% in a year. Thyrocare Technologies (NSE: THYROCARE) is worth ₹7,691 crore, trades at a P/E of 44.0 and has closed between ₹351.35 and ₹624.05 over the past 52 weeks. > Thyrocare Technologies Ltd's earnings have grown faster than its share price. Earnings per share grew +77.8% in a year while the price moved +3.7%. THYROCARE · Diagnostics · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/thyrocare-technologies-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹482.90 (+3.7% in a year)
- P/E: 44.0× (lower than 55% of the last 11 years)
- Revenue (Sep 2026): ₹271 Cr (+24.9% on a year ago)
- Profit (Sep 2026): ₹15.0 Cr (−68.8% on a year ago)
- Operating margin: 33.0% (flat on a year ago)
- ROCE: 35%, FY26
- ROIC: 39.8%, against a 12.0% cost of capital: +27.8 points

The main question: yearly earnings per share moved +77.8% while the share price moved +3.7%. ## What is the Thyrocare Technologies share price today? Thyrocare Technologies Ltd's share price was ₹482.90 at the close on 3 November 2026. It has been rising for 24 weeks. That is 3.2% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹351 and ₹624, and at that close it sat 48% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 4 weeks running. Over the last 11 years the share price moved +132% while the NIFTY 500 moved +231%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 9 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Thyrocare Technologies this quarter? 9 points in one quarter. 1. Profit fell in the September 2026 quarter Profit was ₹15 crore, -68.7% on a year earlier (₹48 crore), after 10 quarters of growth. Why: Profit fell because the company booked a Rs45 crore accounting charge in its consolidated results linked to the sale of its radiology business, Nueclear. That charge did not involve cash leaving the business. Next results: check whether shareholders approve the Nueclear sale and it closes, and how the business is treated in the accounts. From the earnings call on 29 Oct 2026. 2. Foreign funds (FIIs) raised their stake for 6 quarters in a row From 2.4% to 9.4% of the company by the September 2026 quarter. 3. Promoters cut their stake by 9.9 points in one quarter From 60.9% to 51% in the September 2026 quarter. ## What are Thyrocare Technologies' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Thyrocare Technologies reported revenue of ₹271 crore, up 24.9% from ₹217 crore a year earlier, and a profit of ₹15.0 crore, down 68.7% from ₹48.0 crore. ### Thyrocare Technologies results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹271 crore | ₹217 crore | +24.9% |
| Profit | ₹15.0 crore | ₹48.0 crore | −68.7% |
| Earnings per share | ₹1.00 | ₹3.02 | −66.9% |
| Operating margin | 33.0% | 33.0% | 0.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Thyrocare Technologies' management discussed these results on a call held on 29 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Thyrocare Technologies share price history? Thyrocare Technologies closed at ₹482.90 on 3 November 2026, up 3.7% from ₹465.77 a year earlier (31 October 2025) and up 25.5% over five years. Its highest weekly close since May 2016 was ₹624.05 on 14 August 2026. ### Thyrocare Technologies share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹463.15 | +4.3% |
| 1 month ago · 1 Oct 2026 | ₹533.60 | −9.5% |
| 6 months ago · 30 Apr 2026 | ₹400.30 | +20.6% |
| 1 year ago · 31 Oct 2025 | ₹465.77 | +3.7% |
| 3 years ago · 3 Nov 2023 | ₹183.17 | +163.6% |
| 5 years ago · 4 Nov 2021 | ₹384.63 | +25.5% |
| 10 years ago · 4 Nov 2016 | ₹206.78 | +133.5% |
| Earliest weekly close in our records · 13 May 2016 | ₹208.47 | +131.6% |
| Highest weekly close since May 2016, also the 52-week high · 14 Aug 2026 | ₹624.05 | −22.6% |
| Lowest weekly close since May 2016 · 31 Mar 2023 | ₹143.28 | +237.0% |
| 52-week low (weekly close) · 20 Mar 2026 | ₹351.35 | +37.4% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (555 weekly closes from 13 May 2016 to 3 November 2026.)

## What is the latest news on Thyrocare Technologies? 3 Nov 2026: Thyrocare Technologies closed at ₹482.90, up 4.3% on the week and down 9.5% on the month. 29 Oct 2026: Thyrocare Technologies held its results call for July to September 2026. Management guided: FY27 revenue growth seen in early-20s percent. ### Earlier

- Results for July to September 2026: Revenue up 24.9% and profit down 68.7% on a year earlier. - Our read, 22 Aug 2026: The pathology network is converting volume and channel expansion into earnings, while specialty diagnostics remains an option whose delivery timetable has widened. - 23 Jun 2026: ex-date for a dividend of ₹7 a share. - 28 Nov 2025: Bonus issue: 2 new shares for every 1 held (ex-date). ### Our read of the business

Latest quarter: Revenue advanced while operating margin eased from the March quarter. (Our read after the latest results, written 22 August 2026.)

## What dividend does Thyrocare Technologies pay? Thyrocare Technologies paid ₹7 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 1.45% at the ₹482.90 close on 3 November 2026. The last was a dividend of ₹7 a share, ex-date 23 June 2026. ### Thyrocare Technologies dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 23 Jun 2026 | ₹7 | Dividend | same day |
| 24 Oct 2025 | ₹7 | Interim | same day |
| 25 Jul 2025 | ₹21 | Dividend | same day |
| 16 Aug 2024 | ₹18 | Dividend | same day |
| 20 Apr 2023 | ₹18 | Interim | same day |
| 11 May 2022 | ₹15 | Interim | 12 May 2022 |
| 17 Jun 2021 | ₹15 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Thyrocare Technologies Ltd paid out 137% of its profit as dividends in FY26, and it paid a dividend in each of its last 12 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Thyrocare Technologies management say on the latest results call? On the call for July to September 2026, held on 29 October 2026, Thyrocare Technologies' management guided: FY27 revenue growth seen in early-20s percent. > “I would say that a long-term guidance of about 31% to 31.5%, where we are funding all these investments for growth, is what I would anchor on, and not above that.”
> Rahul Guha, MD and CEO, on the call for July to September 2026

### What management guided

- Long-term operating profit around 31 to 31.5 percent versus about 32 percent last year and 32.6 percent in H1 funding growth spending. - Franchise adds to surpass 1,500 this year; 1,500-2,000 yearly to 20,000-25,000 in 5 years; Q3 soft, Q4 normal; ARPF ₹1.2L range-bound. - Specialty to reach 10-15 percent of revenue in 3-5 years on allergy and genomics scale. - Pregnancy kit not EPS-accretive for 3 quarters; Q3 brand spend around ₹3 crore; category guidance next fiscal. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/6168-29-Oct-2026.pdf). (From the call for July to September 2026, 29 October 2026.)

## What is the future of Thyrocare Technologies? What is changing in the business? What is changing at Thyrocare Technologies, from the latest results and calls: franchise-network expansion, specialty diagnostics commercialization and operating leverage from pathology volumes. - Franchise-network expansion. The active franchise base and scheduled net additions can extend pathology reach, subject to retention of newly added outlets. ⚠ estimate
- Operating leverage from pathology volumes. Revenue growth has outpaced the rise in the fixed operating base, allowing profit to grow faster than sales in recent periods. ⚠ estimate
- Partnership and backend diagnostics channel. Partnership revenue is expanding alongside insurance and healthtech integrations, giving the company a second volume route beyond franchises. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 22 August 2026.)

## What could change the Thyrocare Technologies story? What are the risks? The thesis breaks if revenue growth falls below the stated franchise-led framework while operating margin remains below the recent corridor for two reported quarters, because that would show that the existing network is no longer converting volume into operating leverage. ### Each change stops working if

- Franchise-network expansion: New additions churn faster than the planned net schedule or the next reported quarter misses the stated addition goal. - Specialty diagnostics commercialization: Physician-led specialty volumes do not become measurable while the goal timetable continues to move outward. - Operating leverage from pathology volumes: Operating margin falls below the comparable-period level while revenue growth remains positive. - Partnership and backend diagnostics channel: Partnership growth slows without a disclosed comparison-base or pricing explanation. ### The main risks

- Management goal credibility: The specialty timetable widened after earlier radiology and Tanzania expectations were not delivered as first framed. ⚠ estimate
- Margin and reagent-cost pressure: The latest operating margin was below the March quarter and management has linked margin protection to volume scale. ✓ fact
- Radiology and nuclear-business execution: Radiology revenue was down year on year and the nuclear business partner process had no definitive customer at the latest call. ✓ fact

(Our read after the latest results, written 22 August 2026.)

## What to watch in Thyrocare Technologies' next results? When Thyrocare Technologies reports October to December 2026, these are the check that show whether the story is still on course. First: Nueclear shareholder approval and SPA execution - check closure and held-for-sale status next quarter. | What to check | Why |
| --- | --- |
| Nueclear shareholder approval and SPA execution - check closure and held-for-sale status next quarter. | From the call |

## Which stock lists is Thyrocare Technologies on? Thyrocare Technologies is not on any of our India lists this week. ## Is Thyrocare Technologies profitable? Thyrocare Technologies Ltd earned ₹15.0 Cr of net profit in the Sep 2026 quarter, −68.8% on the same quarter a year earlier. Full-year FY26 profit was ₹163 Cr. Over 10 years profit has grown 12.1% a year on average. That is 5.5% of the quarter's revenue. The same quarter a year earlier earned ₹48.0 Cr. For the full year, FY26 profit was ₹163 Cr (+79.1% on the year before). Why profit moved: revenue changed +24.9% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +33.9% and revenue +21.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Thyrocare Technologies make, and is it growing? Thyrocare Technologies Ltd reported ₹271 Cr of revenue in the Sep 2026 quarter, +24.9% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 13.1% a year on average. The last full year, FY26, came in at ₹829 Cr. Why this happened. The value-chain climb applies because the company is adding higher-complexity tests to an existing pathology platform. Central-lab capex is largely completed, but physician adoption and volume are the gating variables. The latest timetable widened, so specialty remains optionality rather than a base-year earnings assumption. The last four reported quarters add to ₹931 Cr. FY26 revenue was ₹829 Cr, +20.7% on the year before. Recent pace: the last four quarters grew +21.8% on average, against 13.1% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +22.0%, against +22.2% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +12.6%, against +32.1% a year (rolling over). ## How much of every ₹100 of sales does Thyrocare Technologies keep? Thyrocare Technologies Ltd's operating margin was 33.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 12 years it has been between 23.0% and 41.0%. The latest quarter is within that range. Why this happened. Management reported the active franchise base at the latest quarter and set a staged plan for net additions across the year. This supports volume growth through distribution rather than a new laboratory build. The off-switch is churn among the early additions or a failure to meet the next quarterly addition goal. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed +0.0 percentage points on the year while gross margin changed +1.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Thyrocare Technologies' profit turning into cash? Over the last 3 years, 177% of Thyrocare Technologies Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹213 Cr of operating cash against ₹163 Cr of profit. After ₹68.0 Cr of spending on assets, ₹145 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 177% of profit came in as cash: the cash cycle got 25 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets. ## Where does Thyrocare Technologies' cash go? Thyrocare Technologies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 4 days in FY26, down from 29 days in FY21. It spent ₹185 Cr on assets over the last 3 years. Customers take 33 days to pay, and stock sits for 81 days on average. At FY26 sales of ₹829 Cr, each day of that cycle ties up about ₹2.3 Cr, so roughly ₹9.0 Cr is tied up in the business at any time. FY26: customers took 33 days to pay and stock sat for 81 days, about 2.7 months of sales sitting as stock, for a full cycle of 4 days, shorter than FY21's 29. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 81 days. Customers pay about 33 days after that. Suppliers are paid at 109 days. Together that makes the 4-day cycle. Spending on assets: ₹185 Cr over the last 3 years, against ₹161 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹3.0 Cr (FY26): assets paid for that are not earning yet. In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean. ## What is Thyrocare Technologies' P/E ratio, and how does it compare with its own history? Thyrocare Technologies Ltd's P/E is 44.0×, in the middle of its own history: higher than 45% of past readings. Its usual P/E (the middle reading) is 47.4×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹9.06. Why the multiple is where it is: over the past year earnings per share moved +77.8% while the price moved +3.7%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +4.7% a year; about +0.7% a year came from earnings growth and about +4.0 percentage points from the multiple (the market paying more); over 10 years the price moved +8.9% a year; about +14.0% a year came from earnings growth and about −5.1 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Thyrocare Technologies share price assume? Worked out from its price on 24 August 2026, Thyrocare Technologies Ltd's share price assumed profit growth of about 26.2% a year. Over the past 10 years its profit actually grew 12.1% a year. Today its P/E is 44.0×, lower than 55% of its own last 11 years. This is a one-day reading, taken on 24 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Thyrocare Technologies business getting better or worse? Thyrocare Technologies Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +67.6% at its peak to +12.6%, but the business is still expanding, with ROCE rising at 38.7%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Thyrocare Technologies story, and has it been checked? Thyrocare Technologies Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Our read, 22 August 2026. The pathology network is converting volume and channel expansion into earnings, while specialty diagnostics remains an option whose delivery timetable has widened. From the numbers. From the price. Price stage 2, week 24, below its 200-day line, relative strength falling. From the research. The pathology network is converting volume and channel expansion into earnings, while specialty diagnostics remains an option whose delivery timetable has widened. Where they disagree. The business is in mid-expansion, so earnings delivery and specialty adoption determine future returns. What is proven. The pathology network is converting volume and channel expansion into earnings, while specialty diagnostics remains an option whose delivery timetable has widened. What is not proven yet. The thesis breaks if revenue growth falls below the stated franchise-led framework while operating margin remains below the recent corridor for two reported quarters, because that would show that the existing network is no longer converting volume into operating leverage. What would change our mind. The thesis breaks if revenue growth falls below the stated franchise-led framework while operating margin remains below the recent corridor for two reported quarters, because that would show that the existing network is no longer converting volume into operating leverage. The test written in advance. The thesis breaks if revenue growth falls below the stated franchise-led framework while operating margin remains below the recent corridor for two reported quarters, because that would show that the existing network is no longer converting volume into operating leverage. Measured by: the thesis as written as stated by the next result. The test written in advance. Management goal credibility. Measured by: Management goal credibility Management gives a measurable specialty revenue or adoption update and reconciles it to the stated portfolio goal. by the next result. The test written in advance. Promoter-stake reduction remains unresolved. Measured by: Promoter-stake reduction remains unresolved by the next result. What the company does. The latest quarter extended revenue growth and kept operating margin near the recent range, with reported profit rising from the comparable base. Franchise additions, partnerships and the specialty launch create forward fuel, but management's revised specialty timetable and prior guidance reversals require a discount to aspirational goals. What the surface reading misses. The surface reading is: June 2026 revenue was ₹240 crore. The research reads it further: Revenue was also 24.4% above June 2025, indicating that the reported scale increase was not solely sequential seasonality. What the surface reading misses. The surface reading is: June revenue and net profit rose 24.4% and 34.2% year on year, respectively. The research reads it further: Profit grew faster than revenue in the comparable-quarter calculation, consistent with operating leverage, although this does not by itself prove a permanent margin step-up. Lever 1 · Operating leverage: building. The active franchise base and scheduled net additions can extend pathology reach, subject to retention of newly added outlets. What proves it keeps working: Franchise-network expansion. It stops working if New additions churn faster than the planned net schedule or the next reported quarter misses the stated addition goal. Lever 12 · New product launch: building. Allergy, genomics and advanced tests are commercially live, with a multi-year portfolio-mix ambition rather than a near-term revenue promise. What proves it keeps working: Specialty diagnostics commercialization. It stops working if Physician-led specialty volumes do not become measurable while the goal timetable continues to move outward. Lever 15 · Market-share gains: building. Revenue growth has outpaced the rise in the fixed operating base, allowing profit to grow faster than sales in recent periods. What proves it keeps working: Operating leverage from pathology volumes. It stops working if Operating margin falls below the comparable-period level while revenue growth remains positive. Lever 14 · A bigger market to serve: building. Partnership revenue is expanding alongside insurance and healthtech integrations, giving the company a second volume route beyond franchises. What proves it keeps working: Partnership and backend diagnostics channel. It stops working if Partnership growth slows without a disclosed comparison-base or pricing explanation. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Thyrocare Technologies management deliver what it promised? What Thyrocare Technologies Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Revenue Growth Guidance Raised Without Reconciliation · 29 October 2026. Management reiterated a mid to high teens annual growth outlook in both May and Jul 2026. The Oct 2026 call moved the estimate to the early 20s, a material upward revision that was not accompanied by an explanation of what changed. Specialty Mix Goal Reduced · 29 October 2026. The May and Jul 2026 calls both planned a 15% to 20% specialty mix within roughly three to five years. The Oct 2026 call instead stated 10% to 15% and did not explain why the ambition had been lowered. EBITDA Margin Guidance Shifted Downward · 29 October 2026. In May 2026, management said normalized EBITDA of around 34% should remain stable into the next year. In Oct 2026, management told shareholders to anchor on 31% to 31.5% and not above that; although it cited funding growth spending, it did not reconcile this lower margin anchor with the earlier stability expectation. Specialty Mix Timeline Widened · 23 July 2026. In the Jan 2026 and May 2026 calls, management framed specialty diagnostics as reaching a significant or peer-level mix within approximately three years. In the Jul 2026 call, management widened the timeframe to three to five years without explaining whether this reflects slower adoption, a changed spending plan, or increased uncertainty; the five-year outer bound represents a potentially material extension of the growth thesis. Every quote above is taken word for word from the company’s own earnings calls. ## What is Thyrocare Technologies management's track record? Raises discount rate on aspirational guidance; misses reframed as strategic decisions. ### Regulatory and governance record

No SEBI/CBI/ED action; enforcement and insider-trade pages returned only generic listings. 0% Promoter shares pledged

Sources:

- [trendlyne.com](https://trendlyne.com)
- [scanx.trade](https://scanx.trade)

(Checked 21 July 2026.)

## How much does Thyrocare Technologies earn on its capital? Thyrocare Technologies Ltd earned a ROCE of 35% in FY26. That is up from a low of 17% in FY23. Its return on capital used (ROIC) is 27.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 19.7% net margin and 1.11× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 19.7% net margin × 1.11× asset turnover × 1.28× leverage (assets divided by equity) ≈ 28.0% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 39.8% − 12.0% = +27.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 39.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 36.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Thyrocare Technologies have too much debt? Thyrocare Technologies Ltd has total debt of ₹51.0 Cr against shareholder equity of ₹586 Cr as of Jun 2026, so its debt is 0.09× its equity, which is very little. Year by year, that ratio went from 0.04 in FY22 to 0.09 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Thyrocare Technologies shareholding pattern? Promoters cut their stake in Thyrocare Technologies Ltd by 20.1 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 51.0% of the company. Domestic institutions moved +11.1 points over the same period, to 25.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −20.1 points over 8 quarters, to 51.0%; Domestic institutions: +11.1 points over 8 quarters, to 25.9%; Foreign institutions: +7.4 points over 8 quarters, to 9.4%. Why the owners changed: promoters drove it (−20.1 points), with the other side taken by domestic institutions (+11.1 points). They reduced their stake. ## How far is Thyrocare Technologies from balance-sheet trouble? For Thyrocare Technologies Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Thyrocare Technologies rank in its industry? 60.0 out of 100, rank 3 of 9 in Diagnostics, with 100% of the evidence available. Thyrocare Technologies Ltd scores 60.0 out of 100 against the 9 companies it is compared with in Diagnostics, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 22 + 21.3 + 12.6 + 4.1 = 60. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Thyrocare Technologies compared with? Thyrocare Technologies ranks 3 of 9 Diagnostics companies on the 4-Factor Sector Score, with 60.0 out of 100. 1. [One Global Service Provider Ltd](https://www.sectoralpha.in/stocks/one-global-service-provider-ltd) ONEGLOBAL · quiet · Most evidence points up · 81% evidence 70.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 100% · Profit 100% · Operating margin change 4 points · 88% evidence Capital efficiency 14.1/25 · ROCE 87% · Operating margin 19% · 100% evidence Valuation 18.5/20 · P/E 11.6× · PEG 0.45 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -18.5% · 1 year 24.8% · 25% evidence · 0 of 5 weeks ahead Exact sum: 30.1 + 14.1 + 18.5 + 7.5 = 70.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Metropolis Healthcare Ltd](https://www.sectoralpha.in/stocks/metropolis-healthcare-ltd) METROPOLIS · turning · Evidence leans up · 96% evidence 64.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.7/35 · Revenue 21.8% · Profit 33.5% · Operating margin change 2 points · 88% evidence Capital efficiency 14.1/25 · ROCE 17.8% · Operating margin 25% · 100% evidence Valuation 13.3/20 · P/E 54.4× · PEG 1.08 · 100% evidence Relative strength 11.5/20 · Lead over its industry 3.2% · Lead over NIFTY 500 11.6% · 1 year 10.8% · 100% evidence · 4 of 12 weeks ahead Exact sum: 25.7 + 14.1 + 13.3 + 11.5 = 64.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. Thyrocare Technologies Ltd this page THYROCARE · quiet · Evidence leans up · 100% evidence 60.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.0/35 · Revenue 22% · Profit 12.6% · Operating margin change 0 points · 100% evidence Capital efficiency 21.3/25 · ROCE 35.4% · Operating margin 33% · 100% evidence Valuation 12.6/20 · P/E 41.5× · PEG 1.1 · 100% evidence Relative strength 4.1/20 · Lead over its industry -6.7% · Lead over NIFTY 500 0.5% · 1 year -2% · 100% evidence · 7 of 12 weeks ahead Exact sum: 22 + 21.3 + 12.6 + 4.1 = 60 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Vijaya Diagnostic Centre Ltd](https://www.sectoralpha.in/stocks/vijaya-diagnostic-centre-ltd) VIJAYA · leader · Evidence leans up · 96% evidence 59.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.1/35 · Revenue 20.2% · Profit 23.8% · Operating margin change 4 points · 88% evidence Capital efficiency 16.4/25 · ROCE 20.5% · Operating margin 43% · 100% evidence Valuation 0.3/20 · P/E 79.4× · PEG 4.13 · 100% evidence Relative strength 18.7/20 · Lead over its industry 18.1% · Lead over NIFTY 500 26.8% · 1 year 46.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.1 + 16.4 + 0.3 + 18.7 = 59.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [Suraksha Diagnostic Ltd](https://www.sectoralpha.in/stocks/suraksha-diagnostic-ltd) SURAKSHA · breaking out · Evidence leans up · 89% evidence 57.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/35 · Revenue 23% · Profit 9.4% · Operating margin change 2 points · 88% evidence Capital efficiency 11.7/25 · ROCE 17.3% · Operating margin 35% · 100% evidence Valuation 8.9/20 · P/E 46× · PEG 1.66 · 65% evidence Relative strength 17.2/20 · Lead over its industry 6.7% · Lead over NIFTY 500 15.6% · 1 year -0.5% · 100% evidence · 10 of 12 weeks ahead Exact sum: 19.3 + 11.7 + 8.9 + 17.2 = 57.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Dr Lal Pathlabs Ltd](https://www.sectoralpha.in/stocks/dr-lal-pathlabs-ltd) LALPATHLAB · leader · Evidence leans up · 96% evidence 56.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.4/35 · Revenue 14.3% · Profit 5% · Operating margin change 2 points · 88% evidence Capital efficiency 18.5/25 · ROCE 28% · Operating margin 31% · 100% evidence Valuation 9.3/20 · P/E 56.9× · PEG 1.29 · 100% evidence Relative strength 16.5/20 · Lead over its industry 15.5% · Lead over NIFTY 500 24.4% · 1 year 21.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 12.4 + 18.5 + 9.3 + 16.5 = 56.7 · What this means: Relative strength against the index is 24.4%, and revenue and profit growth are weak. 7. [3B Blackbio DX Ltd](https://www.sectoralpha.in/stocks/3b-blackbio-dx-ltd) 3BBLACKBIO · breaking out · Evidence leans up · 78% evidence 50.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.8/35 · Revenue 54.3% · Profit 14.7% · Operating margin change -27.8 points · 83% evidence Capital efficiency 16.6/25 · ROCE 25.5% · Operating margin 25.4% · 76% evidence Valuation 9.5/20 · P/E 20× · PEG n/a · 50% evidence Relative strength 9.0/20 · Lead over its industry -7% · Lead over NIFTY 500 1.2% · 1 year -5.9% · 100% evidence · 10 of 12 weeks ahead Exact sum: 15.8 + 16.6 + 9.5 + 9 = 50.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Krsnaa Diagnostics Ltd](https://www.sectoralpha.in/stocks/krsnaa-diagnostics-ltd) KRSNAA · breaking out · Evidence leans down · 81% evidence 49.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.7/35 · Revenue 10.3% · Profit 21% · Operating margin change -2 points · 88% evidence Capital efficiency 9.1/25 · ROCE 12.7% · Operating margin 25% · 100% evidence Valuation 18.9/20 · P/E 16.8× · PEG 0.57 · 100% evidence Relative strength 7.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -13.7% · 1 year -35.1% · 25% evidence · 1 of 12 weeks ahead Exact sum: 13.7 + 9.1 + 18.9 + 7.9 = 49.6 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 9. [Vimta Labs Ltd](https://www.sectoralpha.in/stocks/vimta-labs-ltd) VIMTALABS · quiet · Most evidence points down · 100% evidence 30.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.3/35 · Revenue 11.7% · Profit 2.5% · Operating margin change 0 points · 100% evidence Capital efficiency 15.7/25 · ROCE 25.2% · Operating margin 34% · 100% evidence Valuation 4.6/20 · P/E 26.6× · PEG 2.75 · 100% evidence Relative strength 1.5/20 · Lead over its industry -12.6% · Lead over NIFTY 500 -5.4% · 1 year -33.2% · 100% evidence · 8 of 12 weeks ahead Exact sum: 8.3 + 15.7 + 4.6 + 1.5 = 30.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Diagnostics](https://www.sectoralpha.in/sectors/diagnostics), all 9 compared on one page. ## Which companies are close to Thyrocare Technologies in size? Thyrocare Technologies is the 4th largest of 9 Diagnostics companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Dr Lal Pathlabs, Vijaya Diagnostic Centre and Metropolis Healthcare. Just below it: Vimta Labs, Suraksha Diagnostic and Krsnaa Diagnostics. ### Diagnostics companies close in size

1. [Dr Lal Pathlabs Ltd](https://www.sectoralpha.in/stocks/dr-lal-pathlabs-ltd) ₹31,999 crore
2. [Vijaya Diagnostic Centre Ltd](https://www.sectoralpha.in/stocks/vijaya-diagnostic-centre-ltd) ₹14,890 crore
3. [Metropolis Healthcare Ltd](https://www.sectoralpha.in/stocks/metropolis-healthcare-ltd) ₹11,320 crore
4. Thyrocare Technologies Ltd ₹7,263 crore
5. [Vimta Labs Ltd](https://www.sectoralpha.in/stocks/vimta-labs-ltd) ₹2,168 crore
6. [Suraksha Diagnostic Ltd](https://www.sectoralpha.in/stocks/suraksha-diagnostic-ltd) ₹1,648 crore
7. [Krsnaa Diagnostics Ltd](https://www.sectoralpha.in/stocks/krsnaa-diagnostics-ltd) ₹1,634 crore

[All 9 Diagnostics companies, largest first](https://www.sectoralpha.in/sectors/diagnostics#all-companies)

### Companies close in size in other industries

1. [G R Infraprojects Ltd](https://www.sectoralpha.in/stocks/g-r-infraprojects-ltd) ₹7,304 crore · Infra - General
2. [Garware Technical Fibres Ltd](https://www.sectoralpha.in/stocks/garware-technical-fibres-ltd) ₹7,278 crore · Textiles - Technical Textile
3. Thyrocare Technologies Ltd ₹7,263 crore
4. [Waaree Renewable Technologies Ltd](https://www.sectoralpha.in/stocks/waaree-renewable-technologies-ltd) ₹7,247 crore · Solar EPC
5. [Maharashtra Seamless Ltd](https://www.sectoralpha.in/stocks/maharashtra-seamless-ltd) ₹7,213 crore · Steel - Tubes/Pipes

## What else do people ask about Thyrocare Technologies? ### What is Thyrocare Technologies's share price today? Thyrocare Technologies Ltd's share price is ₹482.90, +3.7% over the past year. The whole company is worth ₹7,691 Cr on the market. In the last 52 weeks it traded between ₹351 to ₹624; today it is 48% of the way up from the low, 3.2% below its 200-day average (as of 3 November 2026). ### What were Thyrocare Technologies's latest quarterly results? Thyrocare Technologies Ltd reported revenue of ₹271 Cr and net profit of ₹15.0 Cr for the Sep 2026 quarter. Revenue rose 24.9% and profit fell 68.8% compared with a year earlier. Earnings per share were ₹1.00. The operating margin was 33.0%, 0.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Thyrocare Technologies's market cap? Thyrocare Technologies Ltd's market capitalisation is ₹7,691 Cr at a share price of ₹482.90. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Thyrocare Technologies performing? Thyrocare Technologies Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue rose 24.9% and profit fell 68.8% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 4 weeks running (as of 3 November 2026). ### Will Thyrocare Technologies's share price go up? This page does not forecast Thyrocare Technologies Ltd's share price. What it shows instead: the share price is ₹482.90, and it has been rising for 24 weeks. Its P/E of 44.0× is higher than 45% of its own last 11 years (as of 3 November 2026). ### Does Thyrocare Technologies have too much debt? No, Thyrocare Technologies Ltd has little debt: its debt is 0.09× its equity, and its operating profit is 66 times its interest bill. FY26 borrowings were ₹51.0 Cr against equity of ₹585 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Thyrocare Technologies in its business cycle? Thyrocare Technologies Ltd's FY26 operating margin was 32.0%, against a 12-year range of 23.0% to 41.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 33.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Thyrocare Technologies story? The main question: yearly earnings per share moved +77.8% while the share price moved +3.7%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Thyrocare Technologies a stock worth studying right now? What the numbers show: Thyrocare Technologies Ltd's earnings have grown faster than its share price. Earnings per share grew +77.8% in a year while the price moved +3.7%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Thyrocare Technologies share price forecast for 2026? What management itself guided: FY27 revenue growth seen in early-20s percent. What is changing at Thyrocare Technologies, from the latest results and calls: franchise-network expansion, specialty diagnostics commercialization and operating leverage from pathology volumes. What would change the story: The thesis breaks if revenue growth falls below the stated franchise-led framework while operating margin remains below the recent corridor for two reported quarters, because that would show that the existing network is no longer converting volume into operating leverage. ### Where does this page get Thyrocare Technologies' management information? From Thyrocare Technologies' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. This is research, not advice. We’re not SEBI-registered.