Analysts/Institutional Investor Meet/Con. Call Updates

July 27, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza Phiroze Jeejeebhoy Towers B(SaYnMdrBaO KLu:r TlaH CYoRmOpCleAxR, E ) (DSaClRalI PS tCreOeDt,E : 539871) B andra (E), Mumbai - 400051 Mumbai- 400001 Sub: Transcript of post results earning conference call held on July 23, 2026, with Analyst/Investors. Ref: Disclosure under Regulation 30 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/ Madam, Pursuant to Regulation 30(6) read with Part A of Schedule III of the Listing Regulations, please find enclosed herewith the transcript of the earnings conference call with Analysts and Investors held on July 23, 2026. The same has also been made available on the website of the Company https://investor.thyrocare.com/ We request you to please take the same on record. T hyrocare Technologies Limited, Yours Faithfully, Brijesh Kumar Company Secretary and Compliance Officer Encl. A/a “Thyrocare Technologies Limited Q1 FY27 Earnings Conference Call” July 23, 2026 MANAGEMENT: MR. RAHUL GUHA – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – THYROCARE TECHNOLOGIES LIMITED MR. RAJDEEP PANWAR – CHIEF COMMERCIAL OFFICER – THYROCARE TECHNOLOGIES LIMITED DR. RAMESH KINHA – CHIEF OPERATING OFFICER – THYROCARE TECHNOLOGIES LIMITED MR. VIKRAM GUPTA – CHIEF FINANCIAL OFFICER – THYROCARE TECHNOLOGIES LIMITED MR. PREET JOSHI – STRATEGY AND INVESTOR RELATIONS – THYROCARE TECHNOLOGIES LIMITED Page 1 of 19 Thyrocare Technologies Limited July 23, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Thyrocare Q1 FY27 Earning Conference Call hosted by Thyrocare Technologies Limited. As a reminder, all participant line will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Preet Joshi from Thyrocare. Thank you, and over to you, Preet. Preet Joshi: Thank you, Ganesh. Good evening, everyone, and thank you for joining us today. I'm Preet Joshi from the strategy team at Thyrocare. It is a pleasure to welcome you all to our Q1 FY27 earnings call. Joining me on the call today are Mr. Rahul Guha, our MD and CEO; Mr. Rajdeep Panwar, our Chief Commercial Officer; Dr. Ramesh Kinha, our Chief Operating Officer; and Mr. Vikram Gupta, our Chief Financial Officer. I hope you have gone through the results release in the quarterly earnings presentation and the press release, which has now been uploaded on the Stock Exchange website. The transcript of this call will be available in a week's time on the company's website. Please note that today's discussion may be forward looking in nature and must be viewed in relation to the risks pertaining to our business. After the end of this call, in case you have any further questions, please feel free to reach out to the Investor Relations team. I now hand over the call to Mr. Rahul Guha, who will make the opening remarks. Over to you, Rahul. Rahul Guha: Thank you, Preet. Good evening, everyone, and thank you for joining us today. As in all my calls, I will begin with the quote from Nelson Mandela in recognition of our foray into Africa. It is in your hand to make a better world for all who live in it. We believe Thyrocare has the opportunity to take a proven business model to Africa and make affordable, high-quality diagnostics accessible to many more patients. Before I get into the quarterly highlights, I would like to briefly step back and share how we continue to give the diagnostics industry and our own journey. Diagnostics today is no longer just a back-end support function, it has become central to clinical decision-making and increasingly to preventive health care -- a INR600 lipid profile can prevent a heart attack, which would cause INR1 lakh to treat. Patients today expect convenience, speed and reliability as a baseline. While health care providers seek trusted partners capable of delivering consistent quality at scale. This evolution aligns closely with Thyrocare's mission of making preventive health care, affordable, accessible and dependable for everyone. As health care continues to evolve, we believe technology will play an increasingly important role in diagnostics. At Thyrocare, we continue to strengthen our digital capabilities across the diagnostic value chain from patient bookings, logistics, laboratory operations and reported. These investments are improving operational efficiency today while creating a strong foundation for future AI-led Page 2 of 19 Thyrocare Technologies Limited July 23, 2026 capabilities in preventive health care. I'm pleased to share that the quarter brought some meaningful external recognition of this work. We received the India's most trusted customer-focused diagnostic brand 2026 award at the pride of Healthcare Excellence Award and Summit 2026 in Hyderabad. We were also recognized as the Financial Express Healthcare Awards 2026, where we won diagnostic chain of the Year and Pathology Lab Chain of the Year. These reflections reflect the dedication of our teams and the trust our customers and partners continue to place in us. It has been 5 years since API Holdings has taken over Thyrocare from Dr. A. Velumani in July 2021. I wanted to take a moment to share with you the journey over the last 5 years, of which I have had the privilege of working with this amazing team. Between FY18 and FY20, our pathology business revenue, excluding COVID, was growing at a CAGR of less than 10% and volume growth, too, was in the same range. And of course, during FY21, our pathology business, excluding COVID, hit an all-time low of 304, a degrowth of 20% versus the previous year. During the same period, our franchisee base has declined from 4,500 to 2,700 active franchisees during this period. It has been a tremendous effort to build up the business from that base. And I'm proud to say that after a strong growth of 20% in FY26, in Q1 FY27, our pathology business has grown even faster at 26%. This is the culmination of all our efforts and all investments in improving our service levels and quality. I'm proud to say today our active franchise network has grown to over 11,700, a fourfold increase versus when we took over. Our laboratory network has expanded from 17 labs in FY21 to 44 labs today. If you drop a pin anywhere in India, you will find a Thyrocare pathology lab within 150 kilometers and samples don't travel to Mumbai anymore, except for specialized tests. Our test menu has increased nearly fivefold to more than 1,375 tests. Alongside this expansion, we have strengthened our quality infrastructure with over 100-plus MD Pathologists. All our own laboratories being NABL affiliated, well above any competition. And it is important to see the 100% in light of the fact that only 2% of NABL Labs in India, 2% of labs in India are NABL credit. We continue investments in technology and automation to support the next phase of growth. Our home collection network stands at 2,000 phlebotomists, probably the largest phlebotomy network in India with exceptional service levels with an all-time level arrival standing at 99%. We are now extending the Thyrocare strategy into specialty diagnostics. The next phase of Thyrocare's growth journey from routine to remarkable, the next frontier of diagnostics. Specialty Diagnostics remains underpenetrated with limited accessibility, premium pricing and fragmented delivery. These are the same structural inefficiencies that Thyrocare successfully addressed in preventive diagnostics. Our differentiated operating model built on scale, automation, quality and affordability gives us a strong right to win in this market. Page 3 of 19 Thyrocare Technologies Limited July 23, 2026 This is not just a portfolio expansion, it is the deployment of a proven execution [Showing first 8,000 characters — download PDF for full document]