Slide 1: Exchange filing letter for Investor Presentation
July 23, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400051 Mumbai- 400001 (SYMBOL: THYROCARE) (SCRIP CODE: 539871) Sub: Investor Presentation on Unaudited Financial Results (Standalone an
Slide 2: From Routine To Remarkable: Q1 FY27 Earnings Presentation
From Routine To Remarkable: The Next Frontier of Diagnostics Q1 FY27 Earnings Presentation 1
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation has been prepared by Thyrocare Technologies Limited ("Thyrocare"/"TTL"/"Company") for general information purposes only. While reasonable care has been taken in preparing the information, the Company makes no representation or warranty, express or implied, as
Slide 4: Contents
Contents Particulars Pg no. Who we are 04 Our Journey 06 Q1 FY27 Performance Snapshot 07 Other Highlights of Q1 FY27 08 Q1 FY27 Performance - Detailed 14 Going forward – Key Pillars of Growth 23 3
Slide 5: Thyrocare - Making good quality diagnostics affordable to all since 1996
Thyrocare - Making good quality diagnostics affordable to all since 1996 Global in our reach, To make good quality excellence in our experience diagnostics affordable to all 44 1,375+ 97% 11,700+ Pan India Total Labs Comprehensive Samples Quarterly Home (Incl 1 Test Menu Processed at Active Internat
Slide 6: PAN India presence with network of 44 labs
PAN India presence with network of 44 labs (incl. 1 international lab) which are 100% - NABL Accredited* Region-wise Region-wise India Lab count India Pathology revenue mix%^ 7 21% 11 24% East West 9 North 24% 31% South 16 02 CPL 02 ZPL Central Processing Labs Zonal Processing Labs 22 RPL 06 SPL Reg
Slide 7: Improvement across quality, reliability and reach over last 5 years
Improvement across quality, reliability and reach over last 5 years Lab Network Active Test Menu REACH Franchisee 17 Labs 44 Labs 3,600+ 11,700+ 275+ 1,375+ FY2021 Q1FY27 FY2021 Q1FY27 FY2021 Q1FY27 (Inc.1 international lab in Tanzania) RELIABILITY Phlebo Lab Top of the line On-time Arrival Turnarou
Slide 8: Q1 FY27 - Delivered 24% YoY revenue and 34% YoY PAT growth
Q1 FY27 - Delivered 24% YoY revenue and 34% YoY PAT growth with highest quality standards Financial Parameters Operational Parameters Quality Parameters 240 Cr (+24% YoY) 11,730 97% Consolidated Revenue Quarterly Active Franchisees Samples Processed in NABL Labs 226 Cr (+26% YoY) 5.4 Mn (+17% YoY) 5
Slide 9: Expanding capabilities through new service launches and lab additions
Expanding capabilities through new service launches and lab additions 8
Slide 10: Brand Elevation through national recognition
Brand Elevation through national recognition Thyrocare was honored with the "India's Most Trusted At Financial Express Healthcare Awards 2026, Thyrocare Customer-Focused Diagnostic Brand – 2026" award at the was recognised with top honors in two categories: Pride of Healthcare Excellence Awards & Su
Slide 11: Launch of new Laboratories
Launch of new Laboratories Launched a new Regional Processing Laboratory in Muzaffarpur and Hybrid labs in Prayagraj and Kurnool. These facilities will strengthen our testing network and improve turnaround times in nearby catchment areas 10
Slide 12: Strengthening our relationships with channel partners (1/2)
Strengthening our relationships with channel partners (1/2) In Q1 FY27, Thyrocare conducted franchisee meetings, capturing feedback from franchisees across those locations. These insights were used to strengthen processes, service delivery, and overall quality outcome 11
Slide 13: Strengthening our relationships with channel partners (2/2)
Strengthening our relationships with channel partners (2/2) 12
Slide 14: Strengthening our relationships with Doctors
Strengthening our relationships with Doctors In Q1 FY27, We conducted 23 Doctor meetings, capturing feedback from ~100 doctors across those locations. These insights were used to strengthen processes, service delivery, and overall quality outcome 13
Slide 15: Financial Performance Q1 FY27
Financial Performance Q1 FY27 +24% +26% YoY TTL YoY Pathology Consolidated Revenue Revenue +34% 32% (+226bps) YoY EBITDA EBITDA Margin +34% 21% (+155bps) YoY PAT PAT Margin 14
Slide 16: 24% YoY revenue growth and 34% YoY EBITDA growth in Q1 FY27
24% YoY revenue growth in overall business and 34% YoY growth in EBITDA in Q1 FY27 Consolidated Revenue (INR Cr) EBITDA (INR Cr) +24% +34% 216.5 223.9 240.0 75.1 77.3 193.0 195.5 71.5 57.8 57.6 211.5 226.5 202.3 68.6 72.2 74.7 179.0 183.1 55.6 56.7 14.1 14.2 12.4 12.5 13.5 2.2 2.9 0.9 2.9 2.7 Q1FY26
Slide 17: Consistent and healthy growth across business verticals
Consistent and healthy growth across business verticals Pathology Revenue (Rs Cr)* Pathology Vials (Lakhs)* YoY% YoY% 142.8 125.4 127.6 +27% 57.2 +19% 112.5 112.2 51.4 52.5 48.1 46.4 71.6 71.0 65.6 56.3 60.1 +26% 26.6 22.9 22.6 25.8 +29% 20.6 10.1 11.2 10.2 11.5 11.8 1.6 1.8 1.7 2.0 2.1 +17% +29% Q1
Slide 18: Strong and consistent growth outlined by key metrics
Strong and consistent growth outlined by key metrics Tests performed (Mn) ^ Patients (Mn) Quarterly active franchisees (#) +28% +17% +23% 55.2 5.4 43.1 4.6 11,730 4.1 9,551 34.7 8,145 Q1FY25 Q1FY26 Q1FY27 Q1FY25 Q1FY26 Q1FY27 Q1FY25 Q1FY26 Q1FY27 Revenue per test (INR) *^ Revenue per patient (INR) T
Slide 19: Sustained growth with 20% CAGR over 5 years in Pathology Revenue
Sustained growth backed by strong execution delivering a CAGR of 20% over 5years in Pathology Revenue Quarterly Pathology Revenue Journey CAGR : - Q1FY22 to Q1FY27 +20% 225.7 210.7 202.2 178.9 182.5 173.9 163.1 152.5 141.2 143.6 136.3 123.2 124.2 123.6 122.9 116.6 116.3 107.2 97.6 94.9 90.8 Q1FY25 Q
Slide 20: Franchisee base grows to a record 11.7K
Consistent network expansion drives franchisee base to a record 11.7K, with ~900 additions in Q1FY27 - the highest quarterly addition in 3 years Quarterly Active Franchisee Journey CAGR : - 11,730 Q1FY22 to Q1FY27 +27% 10,831 10,159 10,278 9,413 9,550 9,165 8,446 8,145 7,542 7,633 7,451 7,610 7,171
Slide 21: Income statement - TTL Standalone: Jump in PAT by 39% YoY
Income statement - TTL Standalone : Jump in PAT by 39% YoY Particulars Quarter Growth% Annual INR crore Q1FY27 Q4FY26 Q1FY26 YoY FY26 Revenue grew by 26.1% YoY, Revenue from operations 225.66 210.67 178.89 26.1% 774.27 Franchisee 27%, Partnerships 26% Cost of materials consumed/sold (59.14) (54.53)
Slide 22: Income statement - Radiology
Income statement - Radiology Particulars Quarter Growth% Annual Revenue declined 4.0%, reflecting a INR crore Q1FY27 Q4FY26 Q1FY26 YoY FY26 strategic exit from non - profitable Revenue from operations 13.48 12.48 14.05 -4.0% 53.14 Cost of materials consumed/sold centers (2.30) (2.15) (2.82) (9.68) G
Slide 23: Income statement - TTL Consolidated: Jump in PAT by 34% YoY
Income statement - TTL Consolidated : Jump in PAT by 34% YoY Particulars Quarter Growth% Annual INR crore Q1FY27 Q4FY26 Q1FY26 YoY FY26 Revenue grew by 24.3% YoY Revenue from operations 240.02 223.95 193.03 24.3% 829.04 Cost of materials consumed/sold (62.16) (56.68) (55.63) (219.57) Gross margin im
Slide 24: Thyrocare is well placed to leverage best of both worlds
Our pathology strategy is to be a B2B service provider with an affordable value driven model based on scale efficiencies 64% 31% Franchise (Offline) Partnerships (Online) ● Mom & Pop collection ● Online diagnostic aggregators centres ● Healthcare platforms ● Local labs ● Employee wellness platforms
Slide 25: Going forward - Key pillars of growth
Going forward - Key pillars of growth Our approach is guided by a multi-pronged growth strategy designed to enhance patient value, reinforce our competitive positioning and ensure long-term performance. By expanding our portfolio, deepening stakeholder trust and strengthening our network, we continu
Slide 26: Thank You
Thank You For Any queries, please reach out to investor_relations@thyrocare.com 25