Thyrocare Technologies Limited has informed the Exchange about Investor Presentation

August 01, 2023

The National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 (SYMBOL: THYROCARE)

BSE Limited Phiroze Jeejeeboy Towers Dalal Street, Mumbai- 400 001 (SCRIP CODE 539871)

Dear Sirs/Madam,

Sub: Presentation- unaudited financial results for the quarter ended June 30, 2023 of Thyrocare Technologies Limited (“the Company”).

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith a copy of the presentation to be made at the earnings conference call for Analysts and Investors, to be held today i.e. August 01, 2023, at 6.00 p.m. on the unaudited financial results of the Company for the quarter ended June 30, 2023. The same is also being made available on the Company’s website www.thyrocare.com.

The audio recording and transcripts of the earnings conference call for Analysts and Investors to be held on August 01, 2023, will be submitted separately.

You are requested to take the above information on record.

Yours Faithfully, For Thyrocare Technologies Limited,

Ramjee Dorai Company Secretary and Compliance Officer

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INR crore Revenue from operations Cost of materials consumed/ sold Gross margin Employee benefit expenses Other expenses Normalized EBITDA ESOP Cost Provision for Receivables Reported EBITDA Depreciation and amortization Finance cost Other income PBT and exceptional items Tax expense Profit after tax

Gross margin % Normalized EBITDA% PAT% Reported EBIDTA%

Quarter

Q1 FY24 Q4 FY23 Q1 FY23 119.24 (38.26) 80.98 (20.57) (26.33) 34.08

123.61 (35.87) 87.74 (20.96) (26.44) 40.34 (5.70) (1.30) 33.33 (8.51) (0.80) 0.46 24.49 (7.60) 16.89

124.82 (39.64) 85.18 (19.26) (27.27) 38.65 (6.45) (7.79) 24.41 (9.42) (0.60) 2.07 16.46 (5.31) 11.15

- -

34.08 (7.58) (0.55) 0.89 26.84 (6.51) 20.33

68% 29% 17% 29%

71% 33% 14% 27%

68% 31% 9% 20%

Variance %

Seq. -1% -10% 3%

YOY 4% -6% 8%

Pathology revenue grew by 4% YoY, while the Franchise business grew by 16%, overall growth impacted due to closure of MCGM contract and dip in API business

4%

18%

Gross margin % is improved on account low GM of price hikes and closure of contract MCGM

Employee benefit expenses remains flat YoY

49%

-9%

52%

-17%

Other expenses despite on account of costs

remains

flat YoY tight control of

Normalized EBITDA % is higher on account of high revenue, improvement in GM, flat overheads and employee costs

*Normalized EBITDA – EBITDA before ESOP cost, CSR and Provisions for Receivables Note: ESOP cost is ESOPs granted from parent group API Holdings to Thyrocare employees and recognized as share based payment in the P&L and appropriately recognized in the balance sheet as Equity contribution from the parent. Total value of the ESOPs granted are 45.53 Cr over a 6 year period ((Year 1 – 39.7%, Year 2 – 31.4%, Year 3 – 16.2%, Year 4 – 9.0%, Year 5 – 3.5%, Year 6 - 0.2%)

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Quarter

Variance %

INR crore Revenue from operations Cost of materials consumed/ sold Gross margin Employee benefit expenses Other expenses Normalized EBITDA ESOP Cost Provision for Receivables Reported EBITDA Depreciation and amortisation Finance cost Other income PBT and exceptional items Tax expense Profit after tax

Gross margin % Normalized EBITDA% PAT% Reported EBIDTA%

Q1 FY24 Q4 FY23 Q1 FY23 8.55 (1.24) 7.31 (0.81) (4.53) 1.97

11.06 (2.11) 8.95 (0.95) (6.36) 1.64

11.02 (2.20) 8.81 (0.97) (6.53) 1.31

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- -

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1.31 (1.27) (0.10) 0.70 0.65 (0.11) 0.54

80% 12% 5% 12%

1.64 (1.35) (0.05) 1.87 2.11 0.14 2.25

81% 15% 17% 15%

1.97 (1.14) (0.02) 0.36 1.17 0.16 1.33

86% 23% 16% 23%

Seq. 0% 4% -2%

YOY 29% 78% 21%

-20%

-33%

-69%

-45%

-76%

-60%

NHL Revenue grew 29% Y-o-Y on account of new centers at Surat and from Q2 FY23 and Baroda starting sales increase

FDG/PSMA

in

GM% declined on account of lower realizations from the new centers at Surat and Baroda and increase in low GM FDG/PSMA sales

Employee Benefit Expenses increased introduction of Y-o-Y on account of performance operations, Sunday increments and incentives

annual

Other expenses increased due to old machines coming out of the CMC period; increased transportation costs due to in FDG/PSMA sales and increase increased consultation fees with increase in the no of scans

Normalized EBITDA % declined on account of lower GM%, higher employee cost and other expenses

*Normalized EBITDA – EBITDA before ESOP cost, CSR and Provisions for Receivables Note: ESOP cost is ESOPs granted from parent group API Holdings to Thyrocare employees and recognized as share based payment in the P&L and appropriately recognized in the balance sheet as Equity contribution from the parent. Total value of the ESOPs granted are 45.53 Cr over a 6 year period ((Year 1 – 39.7%, Year 2 – 31.4%, Year 3 – 16.2%, Year 4 – 9.0%, Year 5 – 3.5%, Year 6 - 0.2%)

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INR crore Revenue from operations Cost of materials consumed/ sold Gross margin Employee benefit expenses Other expenses Normalized EBITDA ESOP Cost Provision for Receivables Reported EBITDA Depreciation and amortisation Finance cost Other income PBT and exceptional items Share of profit in associate entity Tax expense Profit after tax

Gross margin % Normalized EBITDA% PAT% Reported EBIDTA %

Quarter

Variance %

Q1 FY24 134.89 (38.07) 96.82 (21.97) (33.14) 41.70 (5.70) (1.30) 34.70 (9.83) (0.88) 0.98 24.98 0.12 (7.70) 17.40

72% 31% 13% 26%

Q4 FY23 135.88 (41.75) 94.13 (20.21) (33.36) 40.56 (6.45) (7.79) 26.32 (10.80) (0.67) 3.70 18.55 0.32 (5.16) 13.71

69% 30% 10% 19%

Q1 FY23 127.79 (39.50) 88.29 (21.37) (30.72) 36.20

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36.20 (8.61) (0.56) 1.00 28.03 0.26 (6.35) 21.94

69% 28% 17% 28%

Seq. -1% -9% 3%

YOY 6% -4% 10%

3%

15%

35%

-11%

27%

-21%

Revenue from operations include Pulse Hitech

to

retain ESOPs program introduced at group talent level, it is a cashless charge and not a cash outflow

Finance cost increased because of interest expense on equipment finance availed for the new machines

Profit after Tax % lower due to non-cash items of ESOPs and provision for receivables

*Normalized EBITDA – EBITDA before ESOP cost, CSR and Provisions for Receivables Note: ESOP cost is ESOPs granted from parent group API Holdings to Thyrocare employees and recognized as share based payment in the P&L and appropriately recognized in the balance sheet as Equity contribution from the parent. Total value of the ESOPs granted are 45.53 Cr over a 6 year period ((Year 1 – 39.7%, Year 2 – 31.4%, Year 3 – 16.2%, Year 4 – 9.0%, Year 5 – 3.5%, Year 6 - 0.2%)

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