Thyrocare Technologies Limited (THYROCARE) - Net Assets

Latest as of March 2026: Rs5.86 Billion INR ≈ $63.38 Million USD

Based on the latest financial reports, Thyrocare Technologies Limited (THYROCARE) has net assets worth Rs5.86 Billion INR (≈ $63.38 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs7.47 Billion ≈ $80.81 Million USD) and total liabilities (Rs1.61 Billion ≈ $17.43 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check THYROCARE intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs5.86 Billion
% of Total Assets	78.43%
Annual Growth Rate	15.49%
5-Year Change	11.29%
10-Year Change	44.06%
Growth Volatility	20.7

Thyrocare Technologies Limited - Net Assets Trend (2011–2026)

This chart illustrates how Thyrocare Technologies Limited's net assets have evolved over time, based on quarterly financial data. See THYROCARE defensive interval ratio to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Thyrocare Technologies Limited (2011–2026)

The table below shows the annual net assets of Thyrocare Technologies Limited from 2011 to 2026. For live valuation and market cap data, see THYROCARE stock market capitalisation.

Year	Net Assets	Change
2026-03-31	Rs5.86 Billion ≈ $63.38 Million	+7.12%
2025-03-31	Rs5.47 Billion ≈ $59.16 Million	+3.68%
2024-03-31	Rs5.28 Billion ≈ $57.06 Million	-1.42%
2023-03-31	Rs5.35 Billion ≈ $57.88 Million	+1.64%
2022-03-31	Rs5.27 Billion ≈ $56.95 Million	+23.24%
2021-03-31	Rs4.27 Billion ≈ $46.21 Million	+16.53%
2020-03-31	Rs3.67 Billion ≈ $39.65 Million	-15.73%
2019-03-31	Rs4.35 Billion ≈ $47.06 Million	-1.84%
2018-03-31	Rs4.43 Billion ≈ $47.94 Million	+8.97%
2017-03-31	Rs4.07 Billion ≈ $43.99 Million	+11.26%
2016-03-31	Rs3.66 Billion ≈ $39.54 Million	+17.68%
2015-03-31	Rs3.11 Billion ≈ $33.60 Million	+50.62%
2014-03-31	Rs2.06 Billion ≈ $22.31 Million	+28.83%
2013-03-31	Rs1.60 Billion ≈ $17.31 Million	+56.24%
2012-03-31	Rs1.02 Billion ≈ $11.08 Million	+51.74%
2011-03-31	Rs675.33 Million ≈ $7.30 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Thyrocare Technologies Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs1.59 Billion	27.19%
Other Components	Rs4.26 Billion	72.81%
Total Equity	Rs5.86 Billion	100.00%

Thyrocare Technologies Limited Competitors by Market Cap

The table below lists competitors of Thyrocare Technologies Limited ranked by their market capitalization.

Company	Market Cap
Guangdong Hongtu Technology Holdings Co Ltd SHE:002101	$890.39 Million
Sparebanken Sor OL:SOR	$890.43 Million
Arafura Rare EARTHS Ltd AU:ARU	$890.44 Million
HMT Limited NSE:HMT	$890.56 Million
Matrix Design Co. Ltd. A SHE:301365	$889.75 Million
Hartalega Holdings Bhd KLSE:5168	$889.72 Million
Shenyang Blue Silver Ind Auto SHE:300293	$889.45 Million
Navigator Global Investments Ltd AU:NGI	$889.26 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Thyrocare Technologies Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 5,467,500,000 to 5,855,000,000, a change of 387,500,000 (7.1%).
Net income of 1,630,400,000 contributed positively to equity growth.
Dividend payments of 1,484,300,000 reduced retained earnings.
Other comprehensive income decreased equity by 461,700,000.
Other factors increased equity by 703,100,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs1.63 Billion	+27.85%
Dividends Paid	Rs1.48 Billion	-25.35%
Other Comprehensive Income	Rs-461.70 Million	-7.89%
Other Changes	Rs703.10 Million	+12.01%
Total Change	Rs-	7.09%

Book Value vs Market Value Analysis

This analysis compares Thyrocare Technologies Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 14.06x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 41.14x to 14.06x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2011-03-31	Rs12.57	Rs517.20	x
2012-03-31	Rs19.07	Rs517.20	x
2013-03-31	Rs36.66	Rs517.20	x
2014-03-31	Rs47.23	Rs517.20	x
2015-03-31	Rs55.50	Rs517.20	x
2016-03-31	Rs68.05	Rs517.20	x
2017-03-31	Rs75.79	Rs517.20	x
2018-03-31	Rs82.32	Rs517.20	x
2019-03-31	Rs81.32	Rs517.20	x
2020-03-31	Rs69.29	Rs517.20	x
2021-03-31	Rs80.69	Rs517.20	x
2022-03-31	Rs99.38	Rs517.20	x
2023-03-31	Rs100.79	Rs517.20	x
2024-03-31	Rs99.31	Rs517.20	x
2025-03-31	Rs102.05	Rs517.20	x
2026-03-31	Rs36.77	Rs517.20	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Thyrocare Technologies Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 27.85%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 19.67%
• Asset Turnover: 1.11x
• Equity Multiplier: 1.28x
Recent ROE (27.85%) is above the historical average (23.21%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2011	36.76%	32.64%	0.75x	1.49x	Rs180.72 Million
2012	34.10%	32.78%	0.78x	1.34x	Rs246.95 Million
2013	35.49%	42.32%	0.68x	1.23x	Rs408.08 Million
2014	22.38%	30.72%	0.61x	1.19x	Rs255.30 Million
2015	16.26%	24.40%	0.56x	1.20x	Rs171.83 Million
2016	14.17%	21.50%	0.59x	1.12x	Rs152.39 Million
2017	17.45%	23.13%	0.70x	1.07x	Rs302.87 Million
2018	21.04%	26.18%	0.74x	1.08x	Rs489.46 Million
2019	19.57%	21.13%	0.85x	1.09x	Rs416.28 Million
2020	24.11%	20.41%	0.92x	1.28x	Rs517.34 Million
2021	26.48%	22.88%	0.91x	1.28x	Rs704.22 Million
2022	33.45%	29.91%	0.97x	1.15x	Rs1.23 Billion
2023	12.07%	12.24%	0.83x	1.18x	Rs110.60 Million
2024	13.43%	12.37%	0.89x	1.22x	Rs180.83 Million
2025	16.74%	13.31%	0.99x	1.27x	Rs368.35 Million
2026	27.85%	19.67%	1.11x	1.28x	Rs1.04 Billion

Industry Comparison

This section compares Thyrocare Technologies Limited's net assets metrics with peer companies in the Diagnostics & Research industry.

Industry Context

Industry: Diagnostics & Research
Average net assets among peers: $4,839,178,557
Average return on equity (ROE) among peers: 14.04%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Thyrocare Technologies Limited (THYROCARE)	Rs5.86 Billion	36.76%	0.28x	$890.24 Million
Krsnaa Diagnostics Limited (KRSNAA)	$757.06 Million	-5.18%	1.32x	$188.82 Million
Dr. Lal Path Labs Ltd. (LALPATHLAB)	$7.95 Billion	21.48%	0.16x	$3.05 Billion
Metropolis Healthcare Limited (METROPOLIS)	$13.35 Billion	10.86%	0.40x	$304.57 Million
Syngene International Limited (SYNGENE)	$2.97 Billion	23.92%	0.98x	$1.90 Billion
Vijaya Diagnostic Centre Limited (VIJAYA)	$2.07 Billion	22.16%	0.96x	$1.52 Billion
Vimta Labs Limited (VIMTALABS)	$1.94 Billion	11.01%	0.41x	$288.66 Million

About Thyrocare Technologies Limited

NSE:THYROCARE India Diagnostics & Research

Market Cap

$890.24 Million

Rs82.32 Billion INR

Market Cap Rank

#9480 Global

#467 in India

Share Price

Rs517.20

Change (1 day)

-6.94%

52-Week Range

Rs349.55 - Rs1591.90

All Time High

Rs1591.90