Dr Lal Pathlabs Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹32,002 Cr
- P/E
- 56.93
- ROE
- 22.30%
- PEG
- 1.90
- Price to sales
- 11.08
- Debt to equity
- 0.08
- 52W high / low
- ₹3,255 / ₹1,308
- Sales growth (5Y)
- 11.81%
- EBITDA margin
- 28.98%
- Net profit margin
- 19.08%
- Promoter holding
- 52.93%
- Sales (last year)
- ₹2,891 Cr
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]
Guidance scorecard · Q1 FY27 call
What Dr Lal Pathlabs Ltd's management guided
and where it ranks in Healthcare Services
Healthcare Services
RevenueQ1 FY27 call
10–20%- The company expects revenue growth in the mid-teens for the fiscal year, with a possibility of higher growth leaning towards mid-teens rather than early teens after a strong Q1 performance.
- Patient volume growth guidance is around 6%-7%, with Q1 patient volume growth ahead at 8%, but the company awaits more data post Q2 for better clarity.
- Swasthfit segment is expected to sustain high teens growth (~20%), expanding acceptance in Tier 2 and Tier 3 geographies.
- Growth is broad-based across geographies, including Delhi NCR, West India (especially Suburban), and rural outreach programs in 7 states.
2 more points from Dr Lal Pathlabs Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Dr Lal Pathlabs Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Majority of cash utilization will be on mergers and acquisitions (M&As), especially to expand presence in underpenetrated regions like West and South India.
- Capex for the current and next year is expected to be around Rs. 140-150 crore.
- Investments are also planned for rolling out high-end radiology centers, particularly in Delhi NCR and Tier 2 markets in North India, with plans for 3-4 new radiology centers this year.
- Focus on inorganic growth in international markets like Africa, Middle East (GCC), CIS, and Southeast Asia as a longer-term plan (3-5 years horizon).
2 more points from Dr Lal Pathlabs Ltd's call on capex
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FundraisingQ1 FY27 call
See what Dr Lal Pathlabs Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Plans to add 12 to 15 labs in the current year, similar to the previous year.
- Expansion of high-end radiology centers, particularly in Delhi NCR and selected Tier 2 markets.
- Capex guidance around Rs. 140 crore to Rs. 150 crore, primarily for M&As and rolling out radiology centers.
- Strategic investments in subsidiaries, including acquisitions in Ghana and stake in Neuome Technologies.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Healthcare Services
on management's own guidance
- Strong growth2
- Strong growth1
- Aster DM Quality Care LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Healthcare Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹903 Cr | — | |
| 2 | 40%+ | Flat | ₹583 Cr | 22.2 | |
| 3 | Aster DM Quality Care Ltd | 20–40% | Up 2%+ | ₹58,782 Cr | 162.9 |
| 4 | 20–40% | Up 0–2% | ₹1,730 Cr | 17.5 | |
| 5 | 20–40% | Up 0–2% | ₹580 Cr | 11.9 | |
| 6 | 20–40% | Flat | ₹1.13L Cr | 53.9 |
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Pro shows every company guiding 40%+ revenue growth →Full Healthcare Services rankingDr Lal Pathlabs Ltd announcements
All announcements →- Acquisition / mergerNotableDr. Lal PathLabs completes acquisition of stake in SN Genelab Private Limited
- Acquisition / mergerNotableDr Lal PathLabs completes acquisition of 80% stake in Sunshine Healthcare Limited, Ghana
Financials of Dr Lal Pathlabs Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Dr Lal Pathlabs Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 491 | 541 | 601 | 539 | 545 | 602 | 660 | 597 | 603 | 670 | 731 | 660 | 703 |
| Expenses + | 375 | 395 | 424 | 398 | 401 | 432 | 458 | 443 | 434 | 478 | 506 | 480 | 516 |
| Operating Profit | 116 | 146 | 178 | 141 | 145 | 170 | 202 | 154 | 169 | 192 | 224 | 179 | 187 |
| OPM % | 24% | 27% | 30% | 26% | 27% | 28% | 31% | 26% | 28% | 29% | 31% | 27% | 27% |
| Other Income + | 14 | 14 | 18 | 18 | 18 | 21 | 22 | 25 | 26 | 28 | 25 | -6 | 24 |
| Interest | 9 | 8 | 8 | 7 | 7 | 6 | 6 | 5 | 5 | 5 | 5 | 7 | 6 |
| Depreciation | 38 | 35 | 36 | 36 | 37 | 35 | 35 | 36 | 36 | 35 | 40 | 42 | 45 |
| Profit before tax | 83 | 118 | 152 | 116 | 120 | 150 | 183 | 138 | 153 | 181 | 204 | 124 | 160 |
| Tax % | 32% | 29% | 27% | 29% | 28% | 28% | 29% | 29% | -1% | 26% | 25% | 26% | 17% |
| Net Profit + | 57 | 84 | 111 | 82 | 86 | 108 | 131 | 98 | 156 | 134 | 152 | 91 | 132 |
| EPS in Rs | 3.40 | 4.95 | 6.55 | 4.87 | 5.06 | 6.37 | 7.73 | 5.78 | 9.26 | 7.90 | 8.99 | 5.40 | 7.84 |
Financials of Dr Lal Pathlabs Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 660 | 791 | 912 | 1,057 | 1,203 | 1,330 | 1,581 | 2,087 | 2,017 | 2,227 | 2,461 | 2,763 |
| Expenses + | 504 | 582 | 675 | 793 | 910 | 987 | 1,145 | 1,526 | 1,527 | 1,617 | 1,764 | 1,980 |
| Operating Profit | 156 | 210 | 238 | 264 | 294 | 344 | 436 | 561 | 490 | 609 | 698 | 782 |
| OPM % | 24% | 26% | 26% | 25% | 24% | 26% | 28% | 27% | 24% | 27% | 28% | 28% |
| Other Income + | 12 | 20 | 27 | 31 | 46 | 55 | 51 | 52 | 42 | 69 | 91 | 71 |
| Interest | 0 | 0 | 1 | 1 | 1 | 15 | 16 | 30 | 38 | 29 | 22 | 23 |
| Depreciation | 28 | 28 | 28 | 33 | 38 | 73 | 77 | 108 | 150 | 144 | 142 | 162 |
| Profit before tax | 140 | 201 | 237 | 261 | 301 | 310 | 394 | 475 | 344 | 505 | 625 | 669 |
| Tax % | 31% | 34% | 34% | 34% | 33% | 27% | 25% | 26% | 30% | 28% | 21% | 24% |
| Net Profit + | 96 | 133 | 156 | 172 | 200 | 228 | 296 | 350 | 241 | 362 | 492 | 510 |
| EPS in Rs | 8.75 | 7.99 | 9.31 | 10.24 | 11.95 | 13.55 | 17.49 | 20.69 | 14.33 | 21.42 | 29.14 | 30.13 |
| Dividend Payout % | 9% | 15% | 16% | 22% | 25% | 44% | 57% | 29% | 42% | 0% | 0% | 81% |
Financials of Dr Lal Pathlabs Ltd
Balance Sheet
Capital structure and asset base
| 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 | 260 | 425 | 512 | 705 | 862 | 949 | 1,162 | 1,418 | 1,583 | 1,766 | 2,089 | 2,341 |
| Borrowings + | 27 | 0 | 0 | 0 | 0 | 0 | 150 | 533 | 420 | 247 | 157 | 199 |
| Other Liabilities + | 134 | 118 | 95 | 128 | 145 | 341 | 265 | 309 | 297 | 357 | 383 | 439 |
| Total Liabilities | 475 | 625 | 690 | 916 | 1,091 | 1,374 | 1,661 | 2,343 | 2,383 | 2,454 | 2,713 | 3,146 |
| Fixed Assets + | 150 | 166 | 152 | 208 | 209 | 413 | 447 | 1,369 | 1,305 | 1,228 | 1,168 | 1,257 |
| CWIP | 1 | 4 | 18 | 10 | 3 | 11 | 10 | 15 | 5 | 6 | 3 | 6 |
| Investments | 38 | 64 | 106 | 145 | 185 | 164 | 59 | 65 | 150 | 114 | 327 | 423 |
| Other Assets + | 286 | 391 | 414 | 554 | 694 | 786 | 1,144 | 893 | 923 | 1,107 | 1,215 | 1,461 |
| Total Assets | 475 | 625 | 690 | 916 | 1,091 | 1,374 | 1,661 | 2,343 | 2,383 | 2,454 | 2,713 | 3,146 |
Financials of Dr Lal Pathlabs Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 122 | 159 | 171 | 197 | 219 | 284 | 398 | 447 | 456 | 535 | 569 | 636 |
| Cash from Investing Activity + | -113 | -163 | -137 | -172 | -100 | -26 | -212 | -449 | -287 | -24 | -303 | -422 |
| Cash from Financing Activity + | -1 | 0 | -32 | 13 | -55 | -190 | -139 | 136 | -283 | -414 | -334 | -264 |
| Net Cash Flow | 8 | -5 | 2 | 37 | 64 | 67 | 48 | 134 | -114 | 97 | -68 | -50 |
| Free Cash Flow | 87 | 115 | 120 | 125 | 177 | 205 | 339 | -28 | 412 | 479 | 516 | 463 |
| CFO/OP | 112% | 108% | 102% | 110% | 110% | 110% | 115% | 103% | 115% | 110% | 105% | 104% |
Financials of Dr Lal Pathlabs Ltd
Ratios
Working capital efficiency and return ratios
| 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 | 16 | 14 | 15 | 15 | 13 | 13 | 13 | 15 |
| Inventory Days | 37 | 31 | 33 | 44 | 40 | 70 | 39 | 38 | 28 | 30 | 27 | 30 |
| Days Payable | 90 | 89 | 97 | 106 | 111 | 144 | 132 | 107 | 127 | 151 | 151 | 123 |
| Cash Conversion Cycle | -35 | -42 | -47 | -47 | -55 | -60 | -78 | -54 | -87 | -108 | -110 | -79 |
| Working Capital Days | -9 | 27 | 19 | 17 | 0 | -19 | -26 | -54 | -56 | -46 | -30 | 27 |
| ROCE % | 48% | 47% | 43% | 38% | 35% | 32% | 33% | 29% | 18% | 25% | 29% | 28% |
Guidance history
How Dr Lal Pathlabs Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Down 0–2% | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
79 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +17.8% | 73% |
| Last 6 months | +32.7% | 83% |
| Last 3 months | +10.2% | 82% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Dr Lal Pathlabs Ltd: 0.4 × 73 + 0.4 × 83 + 0.2 × 82 = 79.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Dr Lal Pathlabs Ltd's management said in earlier quarters
- Q3 FY25 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Consolidated operating revenue for Q2 FY27: ₹28,440 Mn, up 73.0% YoY (Page 15, 16). Key investor presentation takeaways from Narayana Hrudayalaya Ltd's Q2 FY27
- Artemis Medicare Services Ltd (Q2 FY27)
Q2 FY27 consolidated revenue from operations: INR 31,104 Lacs, up 13.2% YoY (Page 39, 40, 20). Key investor presentation takeaways from Artemis Medicare Service
- Max Healthcare Institute Ltd (Q2 FY27)
Q2 FY27 Gross Revenue: ₹3,219 Cr, up 20% YoY (Page 4, 17) . Key investor presentation takeaways from Max Healthcare Institute Ltd's Q2 FY27 investor presentatio