Thyrocare Technologies share surge 19% to hit fresh all-time high; what's driving the rally?

Thyrocare Technologies shares surged 19.99 per cent to a new all-time high of ₹778 on the Bombay Stock Exchange (BSE). This spike followed the company's announcement of a 46 per cent year-on-year increase in profit after tax, reaching ₹24.7 crore for the first quarter ending June 2024.

The company's consolidated revenue for the first quarter of FY25 rose by 16 per cent year-on-year, reaching ₹157 crore. Gross margins also saw an increase, standing at ₹100.7 crore compared to ₹87.7 crore in the same quarter last year, marking a 15 per cent year-on-year growth.

Thyrocare’s pathology segment saw a 16 per cent year-over-year revenue growth, while its radiology segment experienced a 15 per cent increase. Revenue from partnerships surged by 29 per cent year-over-year, and franchise revenue grew by 11 per cent year-over-year.

The company’s consolidated reported EBITDA for the quarter rose by 21 per cent year-over-year, with standalone reported EBITDA increasing by 25 per cent year-over-year.

Thyrocare is India's first fully automated diagnostic laboratory, dedicated to delivering quality services at affordable prices to laboratories and hospitals both in India and internationally. The company was among the first Indian diagnostic laboratories to achieve prestigious international quality accreditations, starting with the ISO 9001-2000 rating in 2001, which has since been upgraded to ISO 9001:2015. Additionally, Thyrocare received CAP (College of American Pathologists) certification in 2007.

Thyrocare Technologies' shares have seen a notable rise of 27.5 per cent over the past year. In the current calendar year, the stock has climbed 14.5 per cent. Over the last six months, the shares have appreciated by 20 per cent, and in the last three months, they have surged by 30 per cent.

Technically, the stock is positioned above all its key exponential moving averages and is close to a mid-range RSI of 56, according to Trendlyne data.