Thyrocare Technologies Ltd Share Price Thyrocare Tech.

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Chairman & Managing Director VELUMANI AROKIASWAMY
Executive Director & CFO SUNDARARAJU AAROGIASAMY NAIDU
Independent Director GOPAL SHIVRAM HEGDE
Independent Director Neetin Shivajirao Desai
Independent Director VISHWAS MADHAV KULKARNI
Independent Director NARAYANASAMY PALANISAMY
Company Secretary RAMJEE DORAI
Director Amruta Velumani
Director Indumati Gopinathan

Thyrocare Technologies Limited is one of the leading pan-India diagnostic chains that conduct an array of medical diagnostic tests and profiles of tests that center on early detection and management of disorders and diseases. As of 31 March 018, the company offered 246 tests and 86 profiles of tests to detect a number of disorders, including thyroid disorders, growth disorders, metabolism disorders, auto-immunity, diabetes, anemia, cardiovascular disorders, infertility and various infectious diseases. The companys profiles of tests include 15 profiles of tests administered under our Aarogyam brand, which offers patients a suite of wellness and preventive health care tests. The company primarily operates its testing services through a fully-automated Centralised Processing Laboratory (the CPL) and has expanded its operations to include a network of Regional Processing Laboratories (RPLs). The company currently operates 8 RPLs, one in each of New Delhi, Coimbatore, Hyderabad, Kolkata, Bangalore, Bhopal, Mumbai and Patna which process samples sourced from their respective regions.Nueclear Healthcare Limited (NHL), the wholly owned subsidiary of Thyrocare Technologies, is engaged in PET-CT Scan imaging diagnostic business. NHL currently has 11 operating PET-CT scanners in 9 imaging centers: two in Navi Mumbai, two in New Delhi, one each in Hyderabad, Surat, Vadodra, Raipur, Jaipur, Mumbai and Aurangabad. NHL also owns and operates a medical cyclotron unit in Navi Mumbai, which produces the radioactive bio-marker FDG required for PET-CT scanning.Thyrocare Technologies CPL, which is located in Navi Mumbai, is equipped with automated systems, diagnostic testing instruments and processes from leading international and Indian healthcare brands. The CPL is fully automated and driven by a barcoded and bi-directionally- interfaced system and Laboratory information system. Thyrocare Technologies collects samples through a pan-India network of authorized service providers comprised of Thyrocare Service Providers (TSPs), Thyrocare Aggregators (TAGs) and Online Clients (OLCs), who in turn source these samples from local hospitals, laboratories, diagnostic centers, nursing homes, clinics and doctors that avail diagnostic services from the company. As of March 31, 2018, Thyrocare Technologies had a network of 3779 authorized service providers, comprised of 332 TAGs, 335 TSPs and 3,312 OLCs spread across 551 cities and 29 states and 6 union territories. The wide spread network of authorized service providers has enabled the company to expand the reach of the CPL and RPLs, thereby providing the company with access to a larger customer base.Thyrocare Technologies promoted Nueclear Healthcare Limited (NHL) in the year 2011. Thyrocare Technologies acquired controlling stake Nueclear Healthcare Limited effective 15 November 2014. Thyrocare Technologies commenced setting up Regional Processing Laboratories (RPLs) in 2014. During the financial year ended 31 March 2016, Thyrocare Technologies issued 31,87,562 equity shares at a premium of Rs. 295.95/- per share, towards consideration for acquiring 46,11,000 equity shares of M/s. Nueclear Healthcare Limited from remaining six shareholders, so that it becomes wholly-owned subsidiary of the company. NHL became wholly-owned subsidiary of the company with effect from 16 December 2015.The increase in revenue of Thyrocare Technologies diagnostic services business in Fiscal 2016 was mainly on account of increased focus on preventive care offerings, improvement in turnaround time by newly set-up regional processing laboratories, enhancement in the brand awareness, realization of revenue from newly introduced verticals and media campaigns, and growth in the companys imaging business.Thyrocare Technologies came out with an Initial Public Offer (IPO), to fulfill its contractual obligation to one of the overseas PE Investor to give an exit route within the agreed time. A total number of 1,07,44,708 equity shares were offered for sale to the public at an Issue Price of Rs. 446. The Issue opened on April 27, 2016 and closed on April 29, 2016 and it was a grand success with an over-subscription of more than 75 times, the highest in healthcare industry in India. Subsequently, the company got stellar listing on the bourses on 9 May 2016 with stock prices zooming more than 45% of the higher price band of share price within a few minutes of commencement of trading in the stock exchanges.During the year financial year ended 31 March 2017, Thyrocare Technologies decided to sell its entire holding in Thyrocare International Holding Company (TIHC) at the acquisition cost to a related party, but it could not be completed for want of approval of Reserve Bank of India. Thyrocare Technologies has been holding 5,440 equity shares in Thyrocare International Holding Company (TIHC), Mauritius, valued at Rs 16.15 million, which is about 9.09% of the total equity share capital of the said company. TIHC is holding 51% of the equity share capital of Thyrocare Gulf Laboratories WLL, Bahrain. The increase in revenue of Thyrocare Technologies diagnostic services business in Fiscal 2017 was mainly on account of the growth in revenue from preventive care offerings, sustained growth in seek care business by improvement in turnaround time due to newly set-up regional processing laboratories, recognition of brand Aarogyam, realization of revenue from newly introduced verticals and media campaigns. The revenue from imaging business in Fiscal 2017, however, grew at lesser pace than the pathology business, mainly on account stagnation of growth evidenced in some region, limitation on conducting scan due to non-availability of FDG for conducting the investigations, delay in starting of PETCT centres in Vadodra and Raipur and competition in regional market.During the financial year ended 31 March 2018, Thyrocare Technologies invested Rs.20 crore in the equity share capital of Equinox Labs Private Limited (Equinox), a company engaged in the business of water, food and other environment and hygiene testing. While Rs.10 crore was paid by cash, for another Rs.10 crore, Thyrocare Technologies transferred its Water Testing business, on a slump sale basis, valued at Rs.10 crore. Equinox has issued 4,29,185 numbers of equity shares of the company, constituting 30% of their paid-up Equity Share capital and Thyrocare Technologies is entitled to have two directors as nominees on their Board. Thus, Equinox has become an Associate company of Thyrocare Technologies, as defined in the Companies Act, 2013.During the year under review, Thyrocare Technologies revenue from imaging business grew at rapid pace than the pathology business, mainly on account of newly added PETCT centers ramping up operations and gaining market control in the respective regions.

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Website : http://www.thyrocare.com
Email : ramjee.d@thyrocare.com

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