- The lock in period of shares allotted to anchor investors ended today
- Maharashtra Association of Resident Doctors (MARD) alleged that Thyrocare is encouraging cut practice amongst doctors.
Selling pressure on account of 1) may be only a temporary demand supply disequilibrium & can be expected to neutralise as time progresses. In response to a letter written by MARD to Maharashtra Medical Council to look into allegations of pay off to doctors, the company immediately came out against the allegation and denied any such practice. This may take some more time to get clear if there was any such malpractice or it is just a malafide allegation.
The course will perhaps be decided by another development as well. Thyrocare Technologies is holding a meeting of the Board of Directors of the Company on June 11, 2016, to declare financial results of the Company and dividend if any. The management had given a guidance that it can sustain margins at 40%. Based on simple extrapolation of its mid year figures, Revenues for year ending 2016 could be in region of 230 cr (180 cr) and Net profit at 53 cr(44 cr) which on an equity of approx 53 cr results in EPS of 10/-. Dr. Lal Path Labs quotes at a PE of Approx 65+.