Synopsis: Thyrocare Technologies jumped sharply after five MF’s, namely HDFC, ICICI, HSBC, and two others, have purchased stakes in the company following the offloading of a 10.06 percent stake by its promoter entity, Docon Technologies.
The shares of this leading healthcare company that provides quality diagnostic services at affordable costs to patients, laboratories, and hospitals in India are in focus after stake purchase by several Mutual Fund Houses. In this article, we will dive more into the details.
With a market capitalization of Rs 6,850 crore, the shares of Thyrocare Technologies Ltd reached a day’s high of Rs 1,298 per share, up 2.6 percent from its previous day’s closing price of Rs 1,265.40 per share. Over the past five years, the stock has delivered a poor return of 12 percent, underperforming NIFTY 50’s return of 122 percent.
About the Deal
Several major institutional investors, including ICICI Prudential Mutual Fund, HSBC Mutual Fund Midcap Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, and Eastspring Investments, together acquired 42.1 lakh shares (7.9 percent) of Thyrocare at Rs 1,252 per share, amounting to Rs 527.2 crore.
ICICI Prudential MF, which earlier held a 2.2 percent stake through its Pharma Healthcare and Diagnostics Fund, increased its total holding to around 5.5 percent after purchasing an additional 3.3 percent stake.
This deal follows when Docon Technologies sold 53.32 lakh shares, representing a 10.06 percent stake in the company at an average price of Rs 1,252.03 per equity share, taking the overall transaction value to around Rs 668 crore. Post this sale, Docon will hold a 61 percent stake in the company.
In June 2021, API Holdings, which is the parent company of Pharmeasy, acquired a 66 percent stake in Thyrocare Technologies for around Rs 4,546 crore through its subsidiary Docon Technologies Pvt Ltd. With this acquisition, the company aimed to extend the footprint of Pharmeasy from just online medicine delivery to the diagnostics and healthcare testing space.
Financial Results
The company’s revenue for Q2 FY26 came in at Rs 217 crore, up by 23 percent from Rs 177 crore in the same quarter last year. Additionally, on a sequential basis, revenue grew by 12 percent from Rs 193 crore in Q1 FY26.
Coming to its profitability, the company reported a net profit growth of 85 percent to Rs 48 crore in Q2 FY26 as compared to Rs 26 crore in Q2 FY25. Additionally, on a QoQ basis, it recorded a growth of 26 percent from Rs 38 crore.
Thyrocare Technologies Limited is India’s first fully automated laboratory chain with a strong PAN-India presence. The company provides high-quality, affordable diagnostic services to laboratories and hospitals. With a quarterly active franchise network of over 10,000 and 53.3 million diagnostic investigations processed in Q2 FY26, Thyrocare is widely trusted across India.
Written by Satyajeet Mukherjee
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
