Review

THYROCARE TECHNOLOGIES LTD. 

Ticker : 539871 
FV : Rs 10 
52-Week H/L : Rs 845.25/410

We had previously recommended Thyrocare Technologies in vol. 36, no. 47, dated September 14, 2020, when the scrip was trading at Rs 766.70. It was recommended based on the company's growth prospects after tie-ups with standalone labs. Thyrocare Technologies is a chain of diagnostic and preventive care laboratories, based in Mumbai. On a consolidated quarterly front, the company reported net sales of Rs 56.27 crore in Q1FY21, down by 48.72 per cent from Rs 109.73 crore in Q1FY20. The operating profit of the company was reported at Rs 9.68 crore in Q1FY21, decreasing by 79.82 per cent from Rs 47.97 crore in Q1FY20. Net profit came in at Rs 0.49 crore in Q1FY21 from Rs 27.29 crore in Q1FY20, contracting by 98.2 per cent. With the healthcare sector witnessing positive growth, the diagnostic sector as well is expected to foresee growth momentum over the medium-term to long-term. Hence, we recommend to HOLD.