The 3 reports from 1 analysts offering long term price targets
for Thyrocare Technologies Ltd. have an average target of 307.00. The consensus estimate
represents a downside of -61.91%
from the last price of 805.90.
Reported lowest ever EBIT margin for diagnostic segment at 25% We reduce our earnings estimate by 56% and 42% for FY21-22E and downgrade THYROCARE to SELL (earlier HOLD) with a new TP of Rs307 (earlier Rs523) 18x PE on FY22E.We believe THYROCARE earnings to be significantly impacted due to 1) loss of core business due to COVID lockdown and low footfall till 1HFY21E 2) post lockdown to struggle for competitive market share 3) high operating expenses (to comply with COVID guidelines).Despite having a track record on asset optimization, EBITDA...
IPM's MAT growth in Feb-20 was 9.7% as against 9.6% in Feb-19 and Jan-20. The growth was majorly contributed by price at 5.4%, volume at 1.9% and new product at 2.5%. In the last 12 months, contributors average growth towards price, volume and new products were 5.6%, 1.7% and 2.3% respectively. The growth attributed by new products and volume however has been on a declining trend in last 50 months, while price hike has been a key factor that has contributed to IPM's growth. With 70-75% intermediaries/API/KSM sourced from China, IPM hasn't been...
FDA continues to maintain zero tolerance towards injectable units Indian generics ranked 2nd only after US for non-compliance issues of facilities by FDA. With the regulators focus towards approving more generics, Indian majors were short of compliance that led to missed opportunity of launching day-one generics and specialty products in CY19. With USFDA issued WL in CY19 to the Indian majors, the track record of achieving compliance in injectable plant were in shambles as work culture in sterile plant lacked training and integrity. The resolution might take longer than its...
diagnostic tests. Overall, Thyrocar increased 10% price for its sick care business in B2B segment while price of few tests in preventive care marginally reduced in Q1FY20. Management guided that the benefits of price rationalization in Aarogyam 1.1, 1.2 and 1.3 will be visible in FY20E. Hence, we expect better traction in volumes and growth in the remaining three quarters of FY20E. Management guided for increased focus on B-2-B business with higher incentives and revenues per franchisee as it focusses...
Thyrocare's sales, EBITDA and Adj. PAT grew 18%, 21% and 3% YoY Change in Estimates | Target | Reco business revenue grew 6% and 14% YoY respectively. The growth in...
Thyrocare's sales, EBITDA and Adj. PAT grew 11%, 13% and 7% YoY Change in Estimates | Target | Reco business revenue grew 6% and 14% YoY respectively. The growth in...
proposal to buyback maximum 1.61% (8,63,013 shares) of total paid-up equity Change in Estimates | Target | Reco shares of the company to a maximum of Rs730. Thyrocare has allocated...
and Adj. PAT grew 11%, 18% and 29% YoY respectively in Q4FY18. While sick carebusinessrevenuegrew27%,therevenuesfrompreventivecaredeclinedby 11% YoY due to increased competition from unorganized players and reduced promotional costs. Management guided for increased focus on B2B business...
Headline matrices missed on early festivities, unseasonal rains: Thyrocare's sales, EBITDA and PAT grew 12%, 17% and 7% YoY respectively in Q2FY18 as early festive season in eastern India and unseasonal rain in western India impacted growth in revenues and profit margins. Due to seasonally lean business period in Q2and Q3 of fiscalyear, Thyrocareconducts special camps across geographies in India during this period. In comparison to FY17, the festival season in Q2FY18, which affected 6 days of revenues in eastern India andunseasonaltorrentialrainsinwesternIndiaimpactingdaystorevenuesin...
We met the management of Thyrocare Technologies (Thyrocare) to get an insight into the company's future plans as well as industry dynamics. The company operates mainly in diagnostics and nuclear imaging segments, which contribute 89% and 6% to total revenues, respectively. The diagnostic segment operates on a hub-and-spoke model and currently comprises one automated central processing lab (CPL) in Navi Mumbai and eight regional processing labs (RPL). The samples are aggregated and sent to CPL and RPL from 26 air connected hubs and...
and PAT grew 28%, 35% and 29% YoY respectively in Q1FY18 as business continuedtoremainrobustpriortoGSTimplementation.WhileSalesofRs878m wereinline,EBITDAofRs364mnandPATofRs220mwerehigherthanestimates duetoloweroperatingcostsandhigherotherincome.Therewere12%and16% QoQ declines in raw material (RM) costs and staff costs respectively due to annualdiscountonconsumptionofreagentsinFY17andexpiryofESOPbenefits...
Beats revenue estimates for 4QFY17: Thyrocare's sales,EBITDA and PAT grew 35%, 35% and 37% YoY respectively in Q4FY17 despite partial demand disruption in the industry due to demonetisation. While Sales and EBITDA of Rs877mn and Rs332m were higher than estimates, PAT at Rs190m, was lower...
In line performance for 3QFY17: Thyrocare's sales, EBITDA and PAT grew by 26%, 23% and 42% respectively in Q3FY17 despite demand disruption in the industryduetodemonetisationandseasonality.WhileSalesatRs683mnwere inlinewithestimates,EBITDAwereslightlybelowestimatesatRs240m,PATwas at Rs154m, lower than our estimates of Rs189m due to 100bps lower EBITDA...
Plenty of growth drivers to be realized in key verticals ............................................. 5 Pathology: Expansion of network, B-2-C, expansion remain key ...................................................... 5 Diagnostic being a sunrise sector, Thyrocare being a smallest among the top-4, its options are plenty for growth, margin expansion ................................................................................................ 6 Small is smart: Technology, logistics increase reach with minimum investment ........................ 6 Strategies of franchise, execution, preventive-care to drive sales .............................................. 8 Co-operation strategy expands market share in expanded pie of diagnostic sector .................. 9 Growing number of samples to facilitate lower Opex/test ....................................................... 10...
Strong operating performance and asset light model leading to high returns: The franchise model of the company has helped it to minimize its capital expenditure leading to higher returns on equity as well as return on capital employed. TTL's sales...
Thyrocare Technologies Limited (TTL) is one of the leading pan-India diagnostic chains and conducts an array of medical diagnostic tests and profiles of tests that center on early detection and management of disorders and diseases. Its profiles of tests include 16 profiles of tests administered under its Aarogyam brand, which offers patients a suite of wellness and preventive health care tests. Through its wholly owned subsidiary, NHL, TTL operates a network of molecular imaging centers in...
chains. It has a leadership position in (the fastest growing and highest valueadded) diagnosticserviceofferingsinwellnessandpreventivecarethismakesitanindustryleader inprofitability.Weexpectittodeliverrevenue/PATCAGRof25%/29%overFY1518.Atthe...
The company is a provider of diagnostic and related healthcare tests and services in India and is specialised in preventive and wellness segment of the diagnostics industry which has broader scope to grow with improving life style...
