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Swing Capital

Dr Lal Pathlabs Ltd

NSE: LALPATHLAB BSE: 539524Healthcare

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]

₹1,643
52W: ₹1272 — ₹1771
PE 51.9 · Book ₹148 · +1010% vs book
Market Cap₹27,538 Cr
Stock P/E51.9Price to Earnings
ROCE29.4%Return on Capital
ROE23.1%Return on Equity
Div. Yield0.86%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 54.8%

Weaknesses

  • −Stock is trading at 11.0 times its book value

Shareholding Pattern

Promoters53.21%
FIIs17.18%
DIIs21.37%
Public7.88%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters54.6%53.92%▼0.753.91%▼0.053.91%53.79%▼0.153.21%▼0.653.21%53.21%
FIIs25.43%26.82%▲1.426.82%23.9%▼2.921.69%▼2.221.86%▲0.220.29%▼1.617.18%▼3.1
DIIs12.42%12.6%▲0.212.88%▲0.315.79%▲2.917.62%▲1.818.22%▲0.619.2%▲1.021.37%▲2.2
Public6.95%6.02%▼0.95.82%▼0.25.84%▲0.06.22%▲0.46.07%▼0.16.94%▲0.97.88%▲0.9

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales476521574631569577641700632675
Expenses346383413437418418457484458494
Operating Profit130138161194151159183215174182
OPM %27%26%28%31%27%28%29%31%27%27%
Net Profit888111412910514812914692141
EPS ₹5.294.846.867.716.38.887.718.695.58.42

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,648Cr, up 12.6% YoY. OPM at 28%.

Debt Position

Borrowings at ₹193Cr. Debt-to-equity ratio: 0.08x. Healthy balance sheet.

Capex Cycle

CWIP at ₹6Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 21.37% (+13.03pp change). FIIs: 17.18% (-6.09pp change). Promoters hold 53.21%.

Margin & Efficiency

ROCE declining from 51% (Mar 2015) to 29% (Mar 2026). Working capital days: 30.

Valuation

PE 51.9x with 29.4% ROCE. Price is 1010% above book value of ₹148. Dividend yield: 0.86%.

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