Now the remaining 5% has also been pledged.
Looks like the new promotors are using the debt free balance sheet of the company to fund their other expenses or repay other debt.
Essentially the money used to buy the company , the new promoters are making back by pledging the shares.
Any views on why is going down. Is it only because of the pledge…
If pharmeasy can buy 74% at 1300… Won’t it be able to buy a few more % to make it look like a good investment while coming for IPO?
Came across this very insightful coverage on the diagnostic sector.
Good share of promoter holding, no doubt. What about shares held by Mutual Fund houses?
Results surprise way beyond expectations…hoping to see more details on what actually is behind this…is this the Pharmeasy effect on volumes? But it’s too soon for that to play out! And if it is just the core biz doing well then Pharmeasy effect wud just act as a huge accelerator!!
Not sure if the new mgmt will share more details now but as a run up to their ipo this super performance from Thyrocare should certainly help.
Rgds
RR
Invested
Excellent result - stock price is cheap compared to the growth in the last few quarters.
I am not sure whether thyrocare has received more business via pharmeasy online channel…it will be useful to find out this info…
I also note that PET CT business made a small profit (may be not - probably at the ebitda level)
There is a big jump in trade receivables 109 crores - is it covid related revenue from the Govt not yet received? Not sure
Thyrocare will get a new MD & CEO starting May 2022
Q4 result out - covid revenue must have tapered to negligible…
Rs 15 dividend, record date 12 May
EPS for the year 33, PE ratio 24.3 at the current market price of 810
176 cr profit after tax for the year, total revenues 618 cr
The entire diagnostic sector companies have had a decent correction - thyrocare corrected the most despite being the most profitable!
Hi… IMO…For thyrocare, its Q3 and Q4 business must be taken into account for valuation purposes. Q1 and Q2 had a lot of COVID related business.
So…instead of taking 33 as its EPS, one should annualise Q4 EPS of Rs 4 to arrive at annual EPS run rate of Rs 16 or so.
Disc: not invested. Holding Metropolis Labs.
Assuming that the current quarter is the new normal, it trades at a foward PE of 50. The eps of the last two quarters is around Rs 4. Now, everything will depend on how fast they can grow.
Not quite that simple - when covid was rampant their normal health/wellness business was badly affected. Their health/wellness business will be recovering as the covid situation normalises…
Yes, their normal health/wellness business has recovered well in this quarter. Next two quarters will surely provide us with more data to judge about valuation.
You can check the recovery here. Now, they are growing actually compared to pre-covid layers.
All of a sudden what changed in diagnostic space…Drastic drop happened compare to other sectors…except getting new players…and some margin pressure…nothing else changed growth wise?. Yes like any other retail companies…These may come…but in retail…Dmart is winner…whose is giving low cost to customer …can this not hold good for thyrocare?..
covid testing revenue is almost gone. back to 2019 base.
Yes, But Growth is still long way to go…based on unorganized statastics.
Given that share price has almost halved from the time the promoter shares were pledged, will not the loan providers ask for more margin or interest? Will this not affect the company, is it better to exit on these grounds?
I feel the attractiveness (high margins/returns) of the diagnostics industry has attracted many players, as should be expected, and this will increase the competitive intensity driving the margins/returns downwards. While there could be scope for every player to grow as the industry shifts more towards organised players from unorganised, margins may not and hence valuations wont be going up.
Can anyone explain the recent disclosures regarding pledge:
4EEEEA40_83C5_44D1_ACBE_11B5909EC632_162845.pdf (1.9 MB)
B19B3D79_12A3_41DD_BFCD_50D7ACA9F14B_163023.pdf (2.0 MB)
4EEEEA40_83C5_44D1_ACBE_11B5909EC632_162845.pdf (1.9 MB)
B19B3D79_12A3_41DD_BFCD_50D7ACA9F14B_163023.pdf (2.0 MB)
0024757E_4250_4DD3_988C_412FE0B8BF04_173750.pdf (992.8 KB)
This may be due to the delay in the IPO - the funds raised through the public offer would have cleared off the debt
