Mehabe score: 5 G Factor: 5 Piotski Score: 7 The stock has a rating HOLD. The mehabe team score is reflective of its fundamental and technical merits. A rating above 8 is considered good buy. The stock has a G-Factor of 5 and Piotski score of 7.
Description
Thyrocare Technologies is engaged in the business of healthcare industry and is involved in providing quality diagnostic services at affordable costs to patients, laboratories and hospitals in India.Site:THYROCARE
Market Cap:
Rs 5,982 cr
Price:
1131.0
Trading pe:
52.9x
Book-value:
80.8/share
Div yield:
0.88 %
Earning yield:
2.57%
Face-value:
10.0/share
52week high:
1212.00
52week low:
485.30
Technical Analysis
Stock trades at 1131.0, above its 50dma 1016.21. It also trades above its 200dma 919.26. The stock remains bullish on techicals
The 52 week high is at 1212.00 and the 52week low is at 485.30
Price Chart
P/E Chart
Sales and Margin
Strengths
– has reduced debt.
– is almost debt free.
– has been maintaining a healthy dividend payout of 90.24%
Weakness
– Stock is trading at 14.00 times its book value
Competition
– The industry trades at a mean P/E of 39.2x. Max Healthcare trades at the industry’s max P/E of 468.86x. THYROCARE trades at a P/E of 52.9x
– Industry’s mean G-Factor is 5.0 while the mean Piotski score is 9.0. THYROCARE has a G-Factor of 5 and Piotski scoreof 7.
– Average 1 month return for industry is 8.0%. The max 1- month return was given by Metropolis Healt: a return of 25.66 %
Quarterly Results
Sales for period ended Mar 2021 is Rs 147.0 cr compared to Rs 101.0 cr for period ended Mar 2020, a rise of 45.5%
Operating Profits reported at Rs 52.0 cr for period ended Mar 2021 vis-vis 31.0 for period ended Mar 2020 .
Operating Margins expanded 468.1 bps for period ended Mar 2021 vis-vis Mar 2020 .
The EPS for Mar 2021 was Rs 7.14 compared to Rs 6.13 for previous quarter ended Dec 2020 and Rs -0.3 for Mar 2020
Profit & Loss Statement
Profit&Loss Comments
Company reported sales of Rs 495.0 cr for period ended Mar 2021 vis-vis sales of Rs 433.0 cr for the period ended Mar 2020, a healthy growth of 12.5%. The 3 year sales cagr stood at 11.6%.
Operating margins shrank to 35.0% for period ended Mar 2021 vis-vis 39.0% for period ended Mar 2020, contraction of 400.0 bps.
Net Profit reported at Rs 113.0 cr for period ended Mar 2021 vis-vis sales of Rs 88.0 cr for the period ended Mar 2020, rising 22.1%.
Company recorded a Net Profit CAGR of 6.7% over the last 3 years
Balance Sheet Statement
Cash Flow Statement
Cash Flow comments
CashFlow from operating activities was positive.
Sales Growth
Profit Growth Statement
Profit Growth Statement
Stock Price CAGR
Return of Equity
General Comments
– The company has improved its Return on Equity (RoE) metric. The RoE on Last Year basis was 29.0% compared to 23.0% over the last 3 Years. – The stock has given a return of 107% on a 1 Year basis vis-vis a return of 24% over the last 3 Years. – The compounded sales growth on a TTM bassis is 14% vis-vis a compounded sales growth of 12% over the last 3 Years. – The compounded profit growth on a TTM basis is 26% vis-vis a compounded profit growth of 8% over the last 3 Years.
Ratios
Shareholding Pattern
– FII shareholding has remained largely constant. The Mar 2021 fii holding stood at 20.54% vis-vis 20.78% for Dec 2020 – Public shareholding has remained largely constant. The Mar 2021 public holding stood at 6.14% vis-vis 5.66% for Dec 2020
Conclusion
– has reduced debt.
– is almost debt free.
– has been maintaining a healthy dividend payout of 90.24% – Stock is trading at 14.00 times its book value
The business fundamentals of the stock remain stable. Stronger near term results will build interest in the stock. We suggest to wait for a upturn in business performance.
Technically, the stock remains above its 50 DMA 1016.21 and is trading at 1131.0, thus bullish price action wise.
