BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Thyrocare Technologies Ltd. reported strong growth ahead of our estimates on all fronts including the one-off government contracts.
Excluding Covid-19 pathology revenue declined 8.5% QoQ with declining realisations. Covid-19 sales contributed 39.2% of total revenue. Total revenue grew 15% YoY to Rs 1.8 billion (our estimate: Rs 1.4 billion).
Ebitda margin improved 1,030/740 basis points YoY/QoQ to 50.7% (our estimate: 36.5%) mainly due to one-off contracts wherein cost of consumables was borne by the government.
Although base business is recovering but pace of recovery is slower than peers.
PharmEasy has recently acquired Thyrocare Technologies which may help in improving volumes over long term.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
