ICICI Securities: Covid-19 Tests And Cost Control Aided Margins Of Thyrocare Technologies

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. 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 better than estimated performance in Q1 FY21 supported by Covid-19 tests and tight cost control.Consolidated revenue declined 48.7% YoY to Rs 563 million (our estimate Rs 431 million). Ebitda margin dropped 2,660 basis points YoY and 1550 basis points QoQ to 15.0%.The company conducted 0.08 million Covid-19 tests which contributed approximately 42% to total sales in Q1 FY21. Regular pathology business witnessed a volume decline of 64.6% in the number of samples due to lockdown which impacted preventive tests significantly.The company’s model of low pricing/high volume strategy was severely affected and focus on preventive tests would take few quarters to revive.However, proportion of preventive and wellness tests to total diagnostics industry is expected to improve materially in long term..Click on the attachment to read the full report:.DISCLAIMERThis 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 brokerage 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.

ICICI Securities: Covid-19 Tests And Cost Control Aided Margins Of Thyrocare Technologies

ICICI Securities: Covid-19 Tests And Cost Control Aided Margins Of Thyrocare Technologies

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