Thyrocare Technologies Limited has informed the Exchange about Investor Presentation
Thyrocare Technologies Limited Presentation – 08.05.2021
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 publicly amend, modify or revise any forward looking statements on the basis of any subsequent development, information or events, or otherwise. This Presentation comprises information given in summary form and does not purport to be complete. This Presentation should not be considered as a recommendation to any investor to purchase the equity shares of the Company. This Presentation includes statements that are, or may be deemed to be, “forward-looking statements”. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy of the Company, its future financial condition and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that the objectives of the Company will be achieved. The past performance is not indicative of future results. This document has not been and will not be reviewed or approved by the statutory auditors or a regulatory authority in India or by any stock exchange in India.
Key Highlights
Revenue ↑19%
` 474 Cr
EBITDA
normalized
` 176 Cr
Margins
PAT
Margins
normalized
37%
` 120 Cr
25%
Free Cash Available ` 109 Cr
Investigations Performed 9.18 Crore
Novid Samples Processed 1.58 Crore
COVID RTPCR Processed 10.4 Lac
Pathology revenue revived significantly after Q1
Yearly Revenue (in crore)
• Annual growth @ 18.6%
118.3
-
200.5
• Quarterly growth @ 48.6% (YOY) / Non (COVID) @ 30%
• Quarterly growth @ 5.3% (Sequentially)
195.4
• Wellness revenue constitutes 45% of the total Non COVID
revenue for the year.
195.9
158.3
• The revival of the core business in the last quarter is slightly impacted due to surge of COVID cases in last part of the year.
FYE2020
FYE2021
Wellness
Sickness
Covid
Increase in COVID volume but with stringent price regulations
• Performed 3.91 lac COVID RTPCR tests in Q4 (highest since inception).
• Total 10.44 lac COVID RTPCR tests performed in the financial year.
• Delhi and Bangalore COVID RTPCR testing laboratories commenced operations.
• The net realization from COVID RTPCR declined substantially over the quarters due
to stringent price regulations across all the states.
COVIDQ1Q2Q3Q4Revenue (INR Cr)23.1247.6527.3420.20Samples 84,4662,76,4422,92,3213,91,209Per Sample Revenue 27401730940520 Recovered and sustained EBITDA margin in spite of Q1 COVID impact
• EBITDA margins impacted due to sharp fall
in
revenue in Q1 due to COVID lockdown.
• Recovery of business over next quarters has
enabled to sustain the margin.
• Cost of consumables surged due to –
Cost of COVID RTPCR/ antibody reagents, Fall in revenue from wellness segment, Operating costs w/o to network during covid, Reduction in prices of tests/ profiles, Aggressive discounts to network
• Employees benefit expenses have increased due to increased head counts, better incentives to staff during COVID and increase in provisions.
ParticularsRevenue from operations474.27 400.00 Less: ExpensesCost of materials consumed/ traded160.55 33.9%112.34 28.1%Employee benefits expense(excluding one off provisions)54.99 11.6%45.75 11.4%Other expenses (excluding non operating expenses)84.69 17.9%69.22 17.3%EBITDA (Normalised)174.03 36.7%172.69 43.2%Add :Other Income12.28 10.48 Less :Employee benefits expense(one off provisions)1.80 - Other non operating expenses1.49 5.98 Depreciation and amortisation expense21.08 19.54 Finance cost0.66 1.32 Exceptional Items- 44.33 PBT161.28 34.0%112.00 28.0%Tax expenseCurrent tax(44.25) (42.74) Deferred tax2.74 10.06 PAT119.77 25.3%79.32 19.8%Year ended 31 March 2021(Audited)Year ended 31 March 2020(Audited) Radiology revenue revived significantly despite COVID
Yearly Revenue (in crore)
31.5
18.5
FYE2020
FYE2021
Imaging
• Despite surge in COVID cases in the last quarter all centers continued operations with increased
footfalls.
• Borivali center commenced operations in the current quarter, after shifting of the equipment
from Coimbatore. Jaipur business undertaking is disposed off as is where is, at the last date of the financial year.
•
Centrewise Revenue (INR Cr)FYE2021Navi Mumbai3.0 Delhi2.4 Hyderabad2.9 Prabhadevi3.1 Aurangabad1.5 Jaipur2.3 Nashik2.3 Borivali0.2 Bangalore 0.8 18.5 Centrewise ScansFYE2021Navi Mumbai2,652 Delhi2,922 Hyderabad2,496 Prabhadevi2,758 Aurangabad1,033 Jaipur1,582 Nashik1,623 Borivali200 Bangalore 745 16,011 Breakeven at EBITDA in spite of Q1 COVID impact
• Breakeven at EBITDA despite operations severally impacted due to complete closure of some centers in Q1 due to COVID lockdown.
• Recovery of business over next quarters has enabled to reduce losses, coupled with relocation of assets has reduced overheads.
• Cost of
consumables
and employee benefit expenses are controlled by shifting scanners on franchisee arrangement.
• Profit from sale of business undertaking at Jaipur
was reported as other income.
ParticularsRevenue from operations20.41 34.09 Less: ExpensesCost of materials consumed/ traded3.35 0.7%4.75 1.2%Employee benefits expense1.29 0.3%3.16 0.8%Other expenses (excluding non operating expenses)15.66 3.3%21.12 5.3%EBITDA (Normalised)0.11 0.0%5.06 1.3%Add :Other Income2.02 0.61 Less :Depreciation and amortisation expense9.42 12.61 Finance cost1.53 2.94 Exceptional ItemsLoss Before Tax(8.82) -1.9%(9.88) -2.5%Tax expenseCurrent tax- - Deferred tax2.19 (8.17) Loss After Tax(6.63) -1.4%(18.05) -4.5%Year ended 31 March 2021Year ended 31 March 2020 Consolidated financials of the group is not significantly impacted
• EBITDA margins of group were impacted due to sharp
fall in revenue in Q1 due to COVID lockdown.
• Recovery of both pathology and radiology business over next quarters has enabled to sustain the margin.
• Cost of consumables in pathology segment surged due
to –
Cost of COVID RTPCR/ antibody reagents, Fall in revenue from wellness segment, Operating costs w/o to network during covid, Reduction in prices of tests/ profiles, Aggressive discounts to network
•
•
Employees benefit expenses in pathology segment have increased due to increased head counts, better incentives to staff during COVID and increase in provisions..
Profit from sale of business undertaking at Jaipur was reported as other income.
ParticularsRevenue from operations494.62 433.20 Less: ExpensesCost of materials consumed/ traded163.90 34.6%117.09 29.3%Employee benefits expense(excluding one off provisions)56.27 11.9%48.92 12.2%Other expenses (excluding non operating expenses)99.90 21.1%88.69 22.2%EBITDA (Normalised)174.55 36.8%178.50 44.6%Add :Other Income12.43 7.73 Share of profit/ (loss) of associate(0.07) 0.51 Less :Employee benefits expense(one off provisions)1.80 - Other non operating expenses1.50 5.98 Depreciation and amortisation expense30.28 31.91 Finance cost0.87 1.85 Exceptional Items- 6.58 PBT152.46 32.1%140.42 35.1%Tax expenseCurrent tax(44.25) (42.75) Deferred tax4.93 (9.26) PAT113.14 23.9%88.41 22.1%Year ended 31 March 2021Year ended 31 March 2020 1500+ EMPLOYEES
280+
DISTRICTS
60000+ TOUCH POINTS
20000+ PARTNERS
20-24 HOURS
AVERAGE SAMPLE PROCESSING TIME