NSEI:THYROCARE

Stock Analysis Report

Thyrocare Technologies

Executive Summary

Thyrocare Technologies Limited provides diagnostic testing services to patients, laboratories, and hospitals in India.

Rewards

Earnings are forecast to grow 12.83% per year

Earnings have grown 16.6% per year over the past 5 years

Risk Analysis

High level of non-cash earnings

Dividend of 1.62% is not well covered by earnings



Snowflake Analysis

Flawless balance sheet with moderate growth potential.


Similar Companies

Share Price & News

How has Thyrocare Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: THYROCARE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.4%

THYROCARE

0.9%

IN Healthcare

-1.5%

IN Market


1 Year Return

16.1%

THYROCARE

32.1%

IN Healthcare

10.7%

IN Market

Return vs Industry: THYROCARE underperformed the Indian Healthcare industry which returned 32.1% over the past year.

Return vs Market: THYROCARE exceeded the Indian Market which returned 10.7% over the past year.


Shareholder returns

THYROCAREIndustryMarket
7 Day-0.4%0.9%-1.5%
30 Day11.5%5.3%-2.7%
90 Day10.1%13.9%1.3%
1 Year22.4%16.1%32.9%32.1%12.7%10.7%
3 Year-6.9%-13.7%10.5%9.1%22.0%15.1%
5 Yearn/a20.2%18.2%34.5%22.0%

Price Volatility Vs. Market

How volatile is Thyrocare Technologies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Thyrocare Technologies undervalued compared to its fair value and its price relative to the market?

30.79x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: THYROCARE (₹615.6) is trading above our estimate of fair value (₹326.03)

Significantly Below Fair Value: THYROCARE is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: THYROCARE is poor value based on its PE Ratio (30.8x) compared to the Healthcare industry average (22.3x).

PE vs Market: THYROCARE is poor value based on its PE Ratio (30.8x) compared to the Indian market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: THYROCARE is poor value based on its PEG Ratio (2.4x)


Price to Book Ratio

PB vs Industry: THYROCARE is overvalued based on its PB Ratio (8.7x) compared to the IN Healthcare industry average (2.2x).


Next Steps

Future Growth

How is Thyrocare Technologies forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

12.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: THYROCARE's forecast earnings growth (12.8% per year) is above the savings rate (6.5%).

Earnings vs Market: THYROCARE's earnings (12.8% per year) are forecast to grow slower than the Indian market (20.6% per year).

High Growth Earnings: THYROCARE's earnings are forecast to grow, but not significantly.

Revenue vs Market: THYROCARE's revenue (12.4% per year) is forecast to grow faster than the Indian market (9% per year).

High Growth Revenue: THYROCARE's revenue (12.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: THYROCARE's Return on Equity is forecast to be high in 3 years time (27.4%)


Next Steps

Past Performance

How has Thyrocare Technologies performed over the past 5 years?

16.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: THYROCARE has a high level of non-cash earnings.

Growing Profit Margin: THYROCARE's current net profit margins (24.3%) are higher than last year (23.8%).


Past Earnings Growth Analysis

Earnings Trend: THYROCARE's earnings have grown by 16.6% per year over the past 5 years.

Accelerating Growth: THYROCARE's earnings growth over the past year (13.2%) is below its 5-year average (16.6% per year).

Earnings vs Industry: THYROCARE earnings growth over the past year (13.2%) underperformed the Healthcare industry 26.2%.


Return on Equity

High ROE: THYROCARE's Return on Equity (28.6%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Thyrocare Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: THYROCARE's short term assets (₹1.2B) exceed its short term liabilities (₹570.1M).

Long Term Liabilities: THYROCARE's short term assets (₹1.2B) exceed its long term liabilities (₹209.1M).


Debt to Equity History and Analysis

Debt Level: THYROCARE's debt to equity ratio (0.7%) is considered satisfactory.

Reducing Debt: THYROCARE's debt to equity ratio has reduced from 2.1% to 0.7% over the past 5 years.

Debt Coverage: THYROCARE's debt is well covered by operating cash flow (5503.4%).

Interest Coverage: THYROCARE's interest payments on its debt are well covered by EBIT (137.1x coverage).


Balance Sheet

Inventory Level: THYROCARE has a high level of physical assets or inventory.

Debt Coverage by Assets: THYROCARE's debt is covered by short term assets (assets are 46.1x debt).


Next Steps

Dividend

What is Thyrocare Technologies's current dividend yield, its reliability and sustainability?

1.62%

Current Dividend Yield


Dividend Yield vs Market

company1.6%marketbottom25%0.6%markettop25%2.6%industryaverage0.5%forecastin3Years2.1%

Current dividend yield vs market & industry

Notable Dividend: THYROCARE's dividend (1.62%) is higher than the bottom 25% of dividend payers in the Indian market (0.6%).

High Dividend: THYROCARE's dividend (1.62%) is low compared to the top 25% of dividend payers in the Indian market (2.58%).


Stability and Growth of Payments

Stable Dividend: THYROCARE has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: THYROCARE's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (99.5%), THYROCARE's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: THYROCARE's dividends in 3 years are forecast to be well covered by earnings (47.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.5yrs

Average board tenure


CEO

Velumani Arokiaswamy (60yo)

₹12

Compensation

Dr. Velumani Arokiaswamy, Ph.D., is the Founder of Nueclear Healthcare Ltd. in 2011 and serves as its Chief Executive Officer and also has been Managing Director since April 1, 2014 and has been its Direct ...


CEO Compensation Analysis

Compensation vs Market: Velumani's total compensation ($USD0.17) is below average for companies of similar size in the Indian market ($USD381.16K).

Compensation vs Earnings: Velumani's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Velumani Arokiaswamy
Chairman0yrs₹12.0030.72% 10.0b
Sundararaju Arokiaswamy
CFO & Executive Director20.1yrs₹6.00m5.05% 1.6b
Amruta Velumani
Non-Executive Director4yrs₹16.00m1.42% 465.2m
Gopalkrishna Hegde
Independent Director5.5yrs₹170.00kno data
Vishwas Kulkarni
Independent Director5.5yrs₹140.00kno data
Neetin Desai
Independent Director5.4yrs₹60.00kno data
Indumati Gopinathan
Non-Executive Independent Director2.5yrs₹10.00kno data

5.5yrs

Average Tenure

60yo

Average Age

Experienced Board: THYROCARE's board of directors are considered experienced (5.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Thyrocare Technologies Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Thyrocare Technologies Limited
  • Ticker: THYROCARE
  • Exchange: NSEI
  • Founded: 1996
  • Industry: Health Care Services
  • Sector: Healthcare
  • Market Cap: ₹32.663b
  • Shares outstanding: 52.84m
  • Website: https://www.thyrocare.com

Number of Employees


Location

  • Thyrocare Technologies Limited
  • D/37-3, TTC Industrial Area
  • MIDC Turbhe
  • Navi Mumbai
  • Maharashtra
  • 400703
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
539871BSE (Mumbai Stock Exchange)YesEquity SharesININRMay 2016
THYROCARENSEI (National Stock Exchange of India)YesEquity SharesININRMay 2016

Biography

Thyrocare Technologies Limited provides diagnostic testing services to patients, laboratories, and hospitals in India. The company operates through Diagnostic Testing Services, Imaging Services, and Others segments. It conducts medical diagnostic tests and profiles of tests that center on early detection and management of disorders and diseases, including thyroid, growth, metabolism, auto-immunity, diabetes, anaemia, cardiovascular, infertility, and various infectious diseases. Its profiles of tests include 51 profiles of tests administered under its Aarogyam brand, which offers patients a suite of wellness and preventive health care tests. The company also provides PET-CT scan imaging diagnostic services. Thyrocare Technologies Limited was founded in 1996 and is headquartered in Navi Mumbai, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 13:13
End of Day Share Price2020/02/19 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.