Thyrocare Technologies: Docon Technologies Sells 10% Stake

Docon Technologies Pvt Ltd, the promoting entity of Thyrocare Technologies, has divested 53.33 lakh equity shares, which represents about 10% of the company’s total paid-up capital, through transactions in the open market on October 24, 2025. This sale was valued at Rs 667.7 crore at an average price of Rs 1,252 per share, as reported in a stock exchange filing. Following this transaction, Docon’s ownership in Thyrocare has reduced from 71% to 61%, yet it still maintains a significant stake in the diagnostics chain with 3.2 crore shares.

The block sale attracted strong interest from domestic mutual funds. Notably, ICICI Prudential Mutual Fund acquired 17.49 lakh shares valued at Rs 218.9 crore. Aditya Birla Sun Life Mutual Fund also participated, purchasing 10.33 lakh shares for Rs 129.3 crore. Other significant investors included HSBC Mutual Fund Midcap Fund, which bought 6.66 lakh shares for Rs 83.4 crore, HDFC Mutual Fund with 4.44 lakh shares at Rs 55.5 crore, and Eastspring Investments India Consumer Equity Open Limited, which acquired 3.19 lakh shares for Rs 40 crore.

Impact of Leadership Transition on Thyrocare

The stake sale coincides with a shift in leadership within the PharmEasy-Thyrocare group. In August 2025, PharmEasy’s co-founder and CEO, Siddharth Shah, resigned from his executive position to take on the role of Vice Chairman. Meanwhile, Rahul Guha, the chief of Thyrocare, was promoted to the new Managing Director and CEO of API Holdings, the parent company of both PharmEasy and Thyrocare. Guha continues to manage Thyrocare in addition to his expanded responsibilities at API.

Thyrocare’s Financial Performance in FY26

Thyrocare recently released its financial results for the second quarter of the current fiscal year FY26, demonstrating robust performance. The company’s revenue from operations surged 22% year-on-year, reaching Rs 216.5 crore in Q2 FY26, compared to Rs 177.36 crore in Q2 FY25. Furthermore, Thyrocare’s profit increased by 81% year-on-year, amounting to Rs 47.9 crore in Q2 FY26, up from Rs 26.4 crore in the corresponding quarter last year. For the first half of FY26, the company achieved a net profit growth of 71%, totalling Rs 86.1 crore, compared to Rs 50.4 crore in H1 FY25.