Dr Lal Pathlabs Ltd
Dr. Lal PathLabs Limited is one of India’s leading consumer healthcare brand in diagnostic services. It has an integrated nationwide network, where patients and healthcare providers are offered a broad range of diagnostic and related healthcare tests and services for use in: core testing, patient diagnosis and the prevention, monitoring and treatment of disease and other health conditions. The services of DLPL are aimed at individual patients, hospitals and other healthcare providers and corporates. [1]
- Market Cap ₹ 31,839 Cr.
- Current Price ₹ 1,897
- High / Low ₹ 2,039 / 1,272
- Stock P/E 56.3
- Book Value ₹ 148
- Dividend Yield 0.74 %
- ROCE 28.5 %
- ROE 22.9 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 50.4%
Cons
- Stock is trading at 12.8 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 637 | 765 | 882 | 1,024 | 1,165 | 1,274 | 1,491 | 1,879 | 1,769 | 2,125 | 2,352 | 2,648 | 2,771 | |
| 486 | 562 | 651 | 768 | 882 | 946 | 1,083 | 1,366 | 1,308 | 1,544 | 1,684 | 1,893 | 1,962 | |
| Operating Profit | 151 | 204 | 230 | 256 | 283 | 328 | 408 | 512 | 461 | 581 | 668 | 755 | 809 |
| OPM % | 24% | 27% | 26% | 25% | 24% | 26% | 27% | 27% | 26% | 27% | 28% | 29% | 29% |
| 17 | 20 | 28 | 31 | 46 | 58 | 51 | 53 | 47 | 66 | 109 | 82 | 86 | |
| Interest | 0 | 0 | 1 | 1 | 1 | 15 | 15 | 29 | 34 | 29 | 22 | 22 | 24 |
| Depreciation | 32 | 32 | 26 | 31 | 36 | 68 | 70 | 76 | 82 | 136 | 134 | 154 | 161 |
| Profit before tax | 135 | 192 | 231 | 256 | 292 | 303 | 374 | 461 | 391 | 483 | 621 | 660 | 710 |
| Tax % | 32% | 34% | 34% | 34% | 33% | 26% | 25% | 25% | 25% | 28% | 20% | 23% | |
| 92 | 126 | 152 | 168 | 195 | 223 | 280 | 345 | 292 | 347 | 497 | 508 | 545 | |
| EPS in Rs | 8.40 | 7.60 | 9.18 | 10.09 | 11.72 | 13.39 | 16.80 | 20.71 | 17.54 | 20.76 | 29.74 | 30.33 | 32.51 |
| Dividend Payout % | 9% | 16% | 16% | 22% | 26% | 45% | 60% | 29% | 34% | 43% | 40% | 68% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 12% |
| 3 Years: | 14% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 13% |
| 3 Years: | 22% |
| TTM: | 11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | -1% |
| 3 Years: | 17% |
| 1 Year: | 9% |
| Return on Equity | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 22% |
| 3 Years: | 23% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 55 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 84 | 168 |
| Reserves | 238 | 397 | 503 | 693 | 847 | 933 | 1,134 | 1,389 | 1,606 | 1,717 | 2,051 | 2,305 |
| 27 | 0 | 0 | 0 | 0 | 0 | 0 | 385 | 281 | 142 | 151 | 193 | |
| 130 | 112 | 90 | 119 | 136 | 302 | 356 | 354 | 350 | 406 | 336 | 383 | |
| Total Liabilities | 449 | 592 | 676 | 896 | 1,067 | 1,318 | 1,573 | 2,211 | 2,320 | 2,349 | 2,621 | 3,049 |
| 119 | 130 | 121 | 173 | 173 | 297 | 300 | 371 | 361 | 1,104 | 1,051 | 1,143 | |
| CWIP | 1 | 4 | 17 | 9 | 3 | 11 | 9 | 14 | 5 | 6 | 3 | 7 |
| Investments | 49 | 74 | 134 | 174 | 214 | 253 | 171 | 1,062 | 1,213 | 213 | 416 | 513 |
| 280 | 384 | 404 | 540 | 677 | 757 | 1,093 | 764 | 740 | 1,026 | 1,151 | 1,386 | |
| Total Assets | 449 | 592 | 676 | 896 | 1,067 | 1,318 | 1,573 | 2,211 | 2,320 | 2,349 | 2,621 | 3,049 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 94 | 142 | 167 | 189 | 208 | 272 | 373 | 426 | 428 | 478 | 540 | 606 | |
| -86 | -148 | -134 | -166 | -93 | -19 | -195 | -449 | -288 | 32 | -293 | -382 | |
| 1 | 1 | -32 | 13 | -54 | -187 | -136 | 141 | -270 | -404 | -325 | -256 | |
| Net Cash Flow | 9 | -5 | 1 | 36 | 61 | 65 | 42 | 118 | -131 | 106 | -78 | -32 |
| Free Cash Flow | 63 | 100 | 118 | 123 | 170 | 224 | 338 | 358 | 390 | 429 | 488 | 436 |
| CFO/OP | 97% | 103% | 102% | 110% | 110% | 110% | 115% | 106% | 114% | 104% | 104% | 102% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 17 | 17 | 17 | 14 | 17 | 14 | 16 | 13 | 13 | 15 | 16 | 18 |
| Inventory Days | 37 | 31 | 33 | 44 | 40 | 70 | 38 | 32 | 22 | 28 | 26 | 29 |
| Days Payable | 89 | 88 | 97 | 104 | 110 | 143 | 132 | 101 | 131 | 154 | 130 | 126 |
| Cash Conversion Cycle | -35 | -41 | -47 | -45 | -54 | -59 | -79 | -55 | -96 | -111 | -88 | -79 |
| Working Capital Days | -10 | 28 | 15 | 18 | 1 | -16 | -25 | -57 | -61 | -46 | -28 | -25 |
| ROCE % | 51% | 48% | 44% | 38% | 34% | 33% | 35% | 32% | 22% | 26% | 30% | 29% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| No. of Clinical Laboratories Count |
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| No. of Patient Service Centers (PSCs) Count |
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| No. of Patients Mn |
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| No. of Pick-up Points (PUPs) Count |
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| No. of Samples Mn |
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| Swasthfit Contribution to Revenue % of Revenue |
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| Realization per Patient (RPP) Rs. |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Announcement under Regulation 30 (LODR)-Updates on Acquisition
- Dr. Lal Ventures completed 30% stake subscription in Neuome Technologies on August 27, 2026; Neuome became associate.
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Incorporation Of A Step-Down Subsidiary Company
- Dr Lal PathLabs incorporated Dr Lal PathLabs Indomed LLC in Tashkent, Uzbekistan; 70% stake subscribed.
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Concalls
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Jul 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Nov 2022Transcript
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May 2022PPT
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Nov 2021Transcript PPT
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Jan 2021PPT
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Dec 2020Transcript
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Nov 2020PPT
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Aug 2020Transcript
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Jul 2020PPT
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Jun 2020Transcript
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Jun 2020Transcript PPT
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Feb 2020PPT
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Nov 2019Transcript
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Nov 2019Transcript PPT
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Aug 2019Transcript PPT
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Mar 2019Transcript PPT
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Feb 2019PPT
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Dec 2018Transcript
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Nov 2018Transcript PPT
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Aug 2018Transcript PPT
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Jun 2018Transcript PPT
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Dec 2017Transcript
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Nov 2016Transcript
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Largest Diagnostic Chain
It is the largest diagnostics chain with a Pan-India presence. The company has 75 years of experience in the field of diagnostics and has served 131 million patients in the last five years. Its test offerings range from basic preventive health packages like SwasthFit to the most advanced investigations, including Comprehensive Genomic Profiles, Myeloid testing for Hematological Malignancies, and Amyloid Typing Solutions. [1] [2]