Thyrocare Technologies Share Price Target Forecast 2022, 2023, 2025, 2030

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06 January, 2022

HDFC Securities recommends Thyrocare Technologies with a target price of Rs 1310.

Thyrocare Technologies got a buy call from HDFC Securities with a target price of Rs 1310. Thyrocare Technologies’ current market price is Rs 1089.45. Thyrocare Technologies Ltd. price can achieve set target in six months, according to analyst.

Thyrocare Technologies Ltd., founded in the year 2000, is a Mid Worth business in the Hospitals & Allied Services sector with a market cap of Rs 5758.02 crore.

Diagnostics, Sale of Services, Other Operating Revenue, and Glucose Strips/Gluco Meter are among Thyrocare Technologies Ltd.’s core Products/Revenue Segments for the fiscal year ending 31-Mar-2021.

Financials

The firm reported a Consolidated Total Income of Rs 191.40 Crore for the quarter ended September 30, 2021, up 9.28 percent from the previous quarter’s Total Income of Rs 175.14 Crore and up 20.96 percent from the same quarter last year’s Total Income of Rs 158.24 Crore. In the most recent quarter, the company generated a net profit after tax of Rs 77.92 crore.

Reasons for Investing

Thyrocare is on a sound footing, according to the brokerage, thanks to a steady recovery in core business, a potential gain in B2C share, the establishment of regional laboratories, and the expansion of branded franchisee centres, all of which are expected to help volume growth. API Holding’s technology and digital goods will also provide Thyrocare with crucial digital capabilities. Once it reaches size, it might enhance its realisations by expanding its product/service offerings and include specialised test profiles. Big organised players like TTL would gain from structural tailwinds such as the move from disorganised to organised company, prospective consolidation, expected increased preventative check-ups, and large scale. Revenue from Covid tests, which accounted for a significant portion of revenues in FY21 and likely in FY22 (given the recent spread of the Omnicron variant), may not recur to the same extent in FY23/FY24, and thus revenue growth after FY22 may be limited unless offset by other initiatives/synergy benefits with PharmEasy. TTL might be merged with PharmEasy in the medium future; however, the benefit to TTL shareholders will be determined by PharmEasy’s stock price (post listing) and the swap ratio. The brokerage believes that this company can be re-rated due to its good historical growth profile, well-established brand image, and strong return ratios.

FII Holdings/Promoter

As of September 30, 2021, promoters controlled 71.22 percent of the firm, FIIs 12.1 percent, and DIIs 6.6 percent.

economictimes.com is the source for this information.


27 December, 2021

ICICI Securities recommends Thyrocare Technologies with a target price of Rs 1231.

Thyrocare Technologies got a buy call from ICICI Securities with a target price of Rs 1231. Thyrocare Technologies’ current market price is Rs 1010.7.

Thyrocare Technologies Ltd. price can achieve set objective in one year, according to analyst.

Thyrocare Technologies Ltd., founded in the year 2000, is a Mid Valuation business in the Hospitals & Allied Services sector with a market cap of Rs 5350.36 crore.

Diagnostics, Sale of Services, Other Operating Revenue, and Glucose Strips/Gluco Meter are among Thyrocare Technologies Ltd.’s core Products/Revenue Segments for the fiscal year ending 31-Mar-2021.

Financials

The firm reported a Consolidated Total Income of Rs 191.40 Crore for the quarter ended September 30, 2021, up 9.28 percent from the previous quarter’s Total Income of Rs 175.14 Crore and up 20.96 percent from the same quarter last year’s Total Income of Rs 158.24 Crore. In the most recent quarter, the company generated a net profit after tax of Rs 77.92 crore.

FII Holdings/Promoter

As of September 30, 2021, promoters controlled 71.22 percent of the firm, FIIs 12.1 percent, and DIIs 6.6 percent.

economictimes.com is the source for this information.


16 November 2021

ICICI Securities recommends Thyrocare Technologies with a target price of Rs 1231.

Thyrocare Technologies got a hold call from ICICI Securities with a target price of Rs 1231. Thyrocare Technologies’ current market price is Rs 1149. Thyrocare Technologies Ltd. price can achieve set objective in one year, according to analyst.

Thyrocare Technologies Ltd., founded in the year 2000, is a Mid Worth business in the Hospitals & Allied Services sector with a market cap of Rs 6069.19 crore.

Diagnostics, Sale of Services, Other Operating Revenue, and Glucose Strips/Gluco Meter are among Thyrocare Technologies Ltd.’s core Products/Revenue Segments for the fiscal year ending 31-Mar-2021.

Financials

The firm reported a Consolidated Total Income of Rs 191.40 Crore for the quarter ended September 30, 2021, up 9.28 percent from the previous quarter’s Total Income of Rs 175.14 Crore and up 20.96 percent from the same quarter last year’s Total Income of Rs 158.24 Crore. In the most recent quarter, the company generated a net profit after tax of Rs 77.92 crore.

Reasons for Investing

To account for one-time sales in Q2FY22, the firm has increased revenue and EBITDA expectations for FY22E by 13% and 26%, respectively. However, it lowers revenue and EBITDA expectations for FY23E by 6% and 8%, respectively, to account for the delayed recovery in the base pathology business. It keeps its HOLD rating on the company, with a reduced DCF-based objective of Rs1,231/share (earlier: Rs1,300/share), suggesting 41.8x FY23E profits and 28.2x FY23E EBITDA. The delayed recovery in the base business continues to be a key negative risk. Key upside risks include a stronger recovery in the preventive care market and incremental sample processing tie-ups with independent laboratories.

FII Holdings/Promoter

As of September 30, 2021, promoters controlled 71.22 percent of the firm, FIIs 12.1 percent, and DIIs 6.6 percent.

economictimes.com is the source for this information.


30 June 2021

Maintain a ‘hold’ position on Thyrocare with a revised target price of Rs 1,450: Edelweiss

Acquisition: Setting off on a new path API Holdings, the parent company of PharmEasy, has announced that it has purchased a 66.14 percent ownership in Thyrocare from Dr. A Velumani and associates for Rs 1,300 per share, totaling Rs 4.55 billion. It plans to launch an open offer for a further 26% ownership at Rs 1,300 per share. Thyrocare is now in a different league than its diagnostic contemporaries, since it now has access to both conventional and internet channels. Thyrocare, one of India’s major diagnostic chains, and PharmEasy’s internet reach are anticipated to complement one other, making the arrangement mutually advantageous. We also feel that because it is the first firm with an online pharmacy as its parent, the purchase opens the door to a higher value framework. ‘HOLD’ should be kept.

Deeper penetration to boost volume growth: Thyrocare is gearing up for the next phase of its expansion and is trying to extend its network aggressively. In FY22, it plans to expand its network of committed franchisees from 500 to 2,000, as well as add 10 additional Regional Reference Laboratories (RPLs) to boost reach and bring it closer to clients. Given: a) gradual recovery in core business; b) development of regional & zonal laboratories anticipated to minimise interruption and enhance turnaround time; and c) expansion via branded franchisee locations, we project Thyrocare to produce a 25% non-covid volume CAGR over FY21-24E.

Collaboration between online and offline is a win-win situation for everyone: While Thyrocare is working to increase brand awareness by building Regional and Zonal Reference Laboratories and branded collection facilities, the purchase is anticipated to hasten the process. Thyrocare, which predominantly relies on B2B channels to obtain samples, is now projected to expand outside conventional markets, thanks to PharmEasy’s presence in 22,000+ pin codes across 1,200+ cities and rising online use beyond major areas. Current orders in the home service segment will be amplified as a result of the online-offline partnership. Other advantages include data gathering for tailored treatment, client acquisition that is simple and inexpensive, and deeper partnerships that bring scalability.

Forecasts and valuations: Changing leagues; maintaining ‘HOLD’ Given structural tailwinds from unorganised to organised, improved preventive care prospects, greater penetration, and wider reach, we revise up our target multiple to 45x Sep 2022E EPS (from 35x June 2022E EPS). This results in a TP of Rs 1,450. (earlier Rs 985). ‘HOLD/SN’ is still in effect.

financialexpress.com is the source for this information.


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