Slide 1: Thyrocare: Tests you can trust
0 Thyrocare Tests you can trust January 28, 2026 I The National Stock Exchange of India Limited BSE Limited Exchange Plaza Phiroze Jeejeeboy Towers Bandera Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 051 Mumbai- 400 001 (SYMBOL: THYROCARE) (SCRIP CODE: 539871) Subject: Investor Presentatio
Slide 2: Thyrocare Earnings Presentation Q3 FY26
Thyrocare Earnings Presentation Q3 FY26
Slide 3: Safe harbour statement
Safe harbour statement 0 Thyrocare' Tests you can trust Statements in this presentation describing the Company’s performance may be “forward looking statements” within the meaning of applicable security laws and regulations. Actual results may differ materially from those directly or indirectly expr
Slide 4: Madhuri Dixit named brand ambassador
Madhuri Dixit named brand ambassador 0 Thyrocare' Tests you can trust 3
Slide 5: Agenda
Agenda 0 Thyrocare' Tests you can trust 01 Latest updates 02 Performance highlights 03 Financial performance 04 Going forward strategy 4
Slide 6: Delivered 18% YoY revenue and 38% YoY EBITDA growth in Q3FY26
Delivered 18% YoY revenue and 38% YoY EBITDA growth in Q3FY26 0 Thyrocare' with highest quality standards Tests you can trust Financial Parameters Quality Parameters 196 Cr Thyrocar Samples Consolidated Revenue 97% (+18% YoY) Tests you can trust processed in NABL labs Standalone Revenue 183 Cr growt
Slide 7: Thyrocare crowned National Diagnostics Champion of the Year
Thyrocare crowned National Diagnostics Champion of the Year 0 Thyrocare' Tests you can trust 4th National Diagnostics Forum & Awards by Voice of Healthcare "Best Diagnostic Lab Chain of the Year - National" “Patient-Centric Diagnostic Company of Year - National“ 6
Slide 8: Further Strengthening our Pan-India lab footprint
Further Strengthening our Pan-India lab footprint 0 Thyrocare' Tests you can trust New Lab at Davangere (Karnataka) and Mandi (Himachal Pradesh) 7
Slide 9: Nationwide lab network dedicated to serving the masses
Nationwide lab network dedicated to serving the masses 0 Thyrocare' Tests you can trust India Labs (39) : ► West (9) : Mumbai (3), Pune, Raipur, Ahmedabad, Nagpur, Goa, Surat ► East (6) : Kolkata, Bhubaneswar, Guwahati, Patna, Ranchi, Bhagalpur ► North (14) : Noida, Bhopal, Jaipur, Delhi, Lucknow, H
Slide 10: Our USP
Our USP 0 Thyrocare' Tests you can trust Reports Complaints dropped to released within average TAT of 3•2 Per Million Tests, Down ••• 3.28 43%YoY ~ : IIC•lllil-.._ of sample Reports verified by expert trust that MD Pathologists Thyrocare reports are ~fi reaching the lab 1 stationed in every Lab Accu
Slide 11: Doctor Board Advisory Meetings
,0 Thyrocare' Doctor Board Advisory Meetings Tests you can trust Nationwide Doctor Meets connects us with leading medical experts. Their insights fuel innovation and elevate the quality of patient care. Chandigarh ::--- , I 10
Slide 12: PAN India Franchisee meets
~ Thyrocare' PAN India Franchisee meets Tests you can trust Spread across cities, these high-energy and high-impact partner meets strengthen our partnership ecosystem. We interact directly, address real-time challenges & jointly build strategies driving the future growth. Raipur 118
Slide 13: Agenda
Agenda 0 Thyrocare' Tests you can trust 01 Latest updates 02 Performance highlights 03 Financial performance 04 Going forward strategy 12
Slide 14: Financial Performance Q3 FY26
Financial Performance Q3 FY26 0 Thyrocare' Tests you can trust YoY TTL Consolidated YoY Reported Revenue +18% +38% EBITDA YoY Pathology YoY Normalized Revenue +20% +26% EBITDA2 YoY Radiology Revenue1 -7% Normalized EBITDA%2 32% 1 Radiology includes Pulse Hitech 2 Normalized EBITDA is at consolidated
Slide 15: Financial Performance YTD FY26
Financial Performance YTD FY26 0 Thyrocare' Tests you can trust YoY TTL Consolidated YoY Reported Revenue +21% +41% EBITDA YoY Pathology YoY Normalized Revenue +23% +39% EBITDA2 YoY Radiology Revenue1 +1% Normalized EBITDA%2 33% 1 Radiology includes Pulse Hitech 2 Normalized EBITDA is at consolidate
Slide 16: Strong and consistent growth outlined by key metrics
Strong and consistent growth outlined by key metrics 0 Thyrocare' Tests you can trust Tests performed (Mn) Patients (Mn) Active franchisees (#) I +22% I -· +14% +12% t 49.6 I I 4.0 4.5 • 9,158 t 10,278 40.5 3.5 34.2 7,284 1 Q3FY24 Q3FY25 Q3FY26 I Q3FY24 Q3FY25 Q3FY26 I Q3FY24 Q3FY25 Q3FY26 -·-·-·-·-
Slide 17: 18% YoY revenue growth and 26% YoY growth in Normalized EBITDA
18% YoY revenue growth in overall business and 26% YoY growth 0 Thyrocare' in Normalized EBITDA in Q3FY26 Tests you can trust Consolidated Revenue (INR Cr) Normalized EBITDA (INR Cr) +18% ------·-·-·-·-·-·-·-··1 ,-----·-·-·-·-·-·-· +26% ♦---♦---♦-----♦---♦--♦ I I I I I I . I 216.5 75.4 193.0 195.5 6
Slide 18: Franchise revenue grew 12% and Partnership revenue 39% YoY
Franchise revenue grew by 12% YoY and Partnership revenue grew 0 Thyrocare' by 39% YoY in Q3 FY26 Tests you can trust Pathology Revenue1 (Rs Cr) Pathology Vials (Lakhs) I YoY% I YoY% I I 125.4 I I I 51.4 100.2 105.4 112.5 112.2 [ +12% ]! 43.8 48.1 46.4 [ +12% ] I I 41.6 I I I I I 65.6 I ...... - 60.
Slide 19: Thyrocare base Franchisee revenue continues to grow at mid-teens
~ Thyrocare· Thyrocare base Franchisee revenue continues to grow at mid-teens Tests you can trust Franchisee growth moderated largely due to the Vimta business following a conscious decision to control credit in the Vimta ecosystem Revenue Growth YoY Particulars (INR Cr) Q1FY26 Q2FY26 Q3FY26 Q1FY26
Slide 20: Agenda
Agenda 0 Thyrocare' Tests you can trust 01 Latest updates 02 Performance highlights 03 Financial performance 04 Going forward strategy 19
Slide 21: Income statement - TTL Standalone: Jump in PAT by 36% YoY
Income statement - TTL Standalone : Jump in PAT by 36% YoY 0 Thyrocare' Tests you can trust Quarter Year To Date / ~---------------------------------------------, \ INR crore Q3FY26 Q3FY25 YoY YTDFY26 YTDFY25 YoY f Revenue grew by 20% YoY, Franchise l Revenue from operations2 182.48 152.55 20% 563.6
Slide 22: Income statement - NHL Standalone
Income statement - NHL Standalone 0 Thyrocare' Tests you can trust Quarter Year To Date Revenue declined 11%, reflecting a INR crore Q3FY26 Q3FY25 YoY YTDFY26 YTDFY25 YoY Revenue from operations 10.37 11.67 (11%) 34.31 35.70 (4%) strategic exit from non-profitable Cost of materials consumed/sold (2.
Slide 23: Income statement - TTL Consolidated: Jump in PAT by 47% YoY
Income statement - TTL Consolidated : Jump in PAT by 47% YoY 0 Thyrocare' Tests you can trust Quarter Year To Date / ,----------------------- -,\ INR crore Q3FY26 Q3FY25 YoY YTDFY26 YTDFY25 YoY I Revenue YOY growth by 18% Revenue from operations 195.53 165.92 18% 605.09 500.19 21% Cost of materials
Slide 24: Annexure: Relevance of Normalized EBITDA over Reported EBITDA
Annexure: Relevance of Normalized EBITDA over Reported EBITDA 0 Thyrocare' Tests you can trust ,; ;------------------------------------------------------------------------------,' Consolidated Profit & Loss (extract) I ► Accounting provision l \ Under Indian Accounting Standard 102 (Share-based Paym
Slide 25: Agenda
Agenda 0 Thyrocare' Tests you can trust 01 Latest updates 02 Performance highlights 03 Financial performance 04 Going forward strategy 24
Slide 26: Vision & Mission
Vision & Mission 0 Thyrocare' Tests you can trust Global in our reach, excellence in our experience To make good quality diagnostics affordable to all Missi,o n 25
Slide 27: Going forward - Key pillars of growth
Going forward - Key pillars of growth 0 Thyrocare' Tests you can trust PARTNERSHIPS ► Going deeper into ► Expanding our ► Strengthening our India with focused partnerships towards presence in test menu insurance and ECG at Tanzania to deliver ► Strengthening our home accessible, high existing franch
Slide 28: Our strategy remains to be a B2B service provider
Our strategy remains to be a B2B service provider with an affordable 0 Thyrocare' value driven model based on scale efficiencies Tests you can trust 0 Thyrocare~ Tests you can trust r·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·-·• ~--------♦---·-----♦---·---♦-----·---♦---·-----♦---·
Slide 29: Thank You
0 Thyrocare Tests you can trust For Any queries, please reach out to investor_relations@thyrocare.com hank You Disclaimer This presentation is for information purposes only and it contains general background information about the Company's activities. The Company assumes no responsibility to publicl