Dr. Lal Pathlabs Ltd - Stock Valuation and Financial Performance

BSE: 539524 | NSE: LALPATHLAB | Hospital & Healthcare Services | Small Cap

Dr. Lal Pathlabs Share Price

2,364.55 59.55 2.58%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on Dr. Lal Pathlabs

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Dr. Lal Pathlabs stock performance -

mw4me loader
P/E Ratio (SA):
53.76
Market Cap:
19,692.4 Cr.
52-wk low:
1,848
52-wk high:
2,766.9

Is Dr. Lal Pathlabs Ltd an attractive stock to invest in?

1. Is Dr. Lal Pathlabs Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Dr. Lal Pathlabs Ltd is a good quality company.

2. Is Dr. Lal Pathlabs Ltd undervalued or overvalued?

The key valuation ratios of Dr. Lal Pathlabs Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Dr. Lal Pathlabs Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Dr. Lal Pathlabs Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Dr. Lal Pathlabs:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dr. Lal Pathlabs Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 40.8%34.4%31.6%28.8%24.7%22.7%23.4%26%24.3%16.8%-
Value Creation
Index
2.01.61.31.10.80.70.70.91.20.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 5416377658821,0241,1651,2741,4911,8791,7691,919
Sales YoY Gr.-17.7%20.2%15.2%16.1%13.8%9.3%17%26.1%-5.8%-
Adj EPS 1416.815.218.420.123.226.133.641.834.943.9
YoY Gr.-20.4%-9.5%21%9.4%15.1%12.7%28.8%24.2%-16.5%-
BVPS (₹) 35.253.657.969.691108.3118141.3169.7195.7227.4
Adj Net
Profit
74.991.8126153168193218280348291366
Cash Flow from Ops. 96.294.1142167189209272373426428-
Debt/CF from Ops. 000000000.80.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 14.1%11.6%11.6%-5.8%
Adj EPS 10.7%11.6%10.2%-16.5%
BVPS21%16.6%18.4%15.3%
Share Price - 18.1% -7.1% 23.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
40.734.331.528.724.622.622.325.125.918.420.7
Op. Profit
Mgn %
25.123.626.426.12524.325.727.327.52628.4
Net Profit
Mgn %
13.914.416.417.316.416.617.118.818.516.419.1
Debt to
Equity
000000000.20.2-
Working Cap
Days
4353666666625245363880
Cash Conv.
Cycle
-17-14-15-10-12-13-15-21-19-2139

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 11.58%

Net Profit is growing at healthy rate in last 3 years 10.15%

Return on Equity has declined versus last 3 years average to 20.70%

Sales growth is not so good in last 4 quarters at 9.25%

Latest Financials - Dr. Lal Pathlabs Ltd.

Standalone Consolidated
TTM EPS (₹) 43.9 39.5
TTM Sales (₹ Cr.) 1,919 2,172
BVPS (₹.) 227.4 222.1
Reserves (₹ Cr.) 1,815 1,771
P/BV 10.37 10.62
PE 53.76 59.69
From the Market
52 Week Low / High (₹) 1848.00 / 2766.85
All Time Low / High (₹) 696.50 / 4243.00
Market Cap (₹ Cr.) 19,692
Equity (₹ Cr.) 83.5
Face Value (₹) 10
Industry PE 87.4

Management X-Ray of Dr. Lal Pathlabs:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Dr. Lal Pathlabs

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales5416377658821,0241,1651,2741,4911,8791,769
Operating Expenses 4064875646527688829461,0831,3661,308
Manufacturing Costs412330147178205233267363380
Material Costs114135168191219255287374448390
Employee Cost 99131133147175202232257321316
Other Costs 151198232166195220193185234224
Operating Profit 134150202230256283328407512461
Operating Profit Margin (%) 24.8%23.6%26.4%26.1%25.0%24.3%25.7%27.3%27.3%26.0%
Other Income 9172228324658515347
Interest 00011115152934
Depreciation 31323226313668707682
Exceptional Items 0000000000
Profit Before Tax 111135192231256292303374461391
Tax 374466798797809411698
Profit After Tax 7492126152168195223280345292
PAT Margin (%) 13.7%14.4%16.4%17.3%16.4%16.8%17.5%18.8%18.4%16.5%
Adjusted EPS (₹)13.316.115.218.420.223.526.833.641.435.1
Dividend Payout Ratio (%)8%10%16%16%22%26%45%60%29%34%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 2163194795787599039831,1771,4151,632
Share Capital 80818383838383838383
Reserves 1352383964956758199001,0941,3311,548
Minority Interest0000000000
Debt00000000262153
Long Term Debt0000000016783
Short Term Debt000000009570
Trade Payables323341516277113136123140
Others Liabilities 647261355865200233380362
Total Liabilities 3124245806638791,0451,2961,5462,1812,288

Fixed Assets

Gross Block232267307147226262449520667736
Accumulated Depreciation118148177265489152220296374
Net Fixed Assets114119130121173173297300371361
CWIP 0141793119145
Investments 2049741341742142531711,0621,213
Inventories11141417272855394023
Trade Receivables24293540405350646763
Cash Equivalents 103145207235307478549889543534
Others Assets4066117981509781758487
Total Assets 3124245806638791,0451,2961,5462,1812,288

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 9694142167189209272373426428
PBT 111131192152256292303374461391
Adjustment 4247119017946598896
Changes in Working Capital -9-326-88101337-640
Tax Paid -48-52-67-68-92-102-89-97-118-99
Cash Flow From Investing Activity -86-86-148-134-166-93-19-195-449-288
Capex -30-31-42-49-66-39-48-35-68-38
Net Investments -39-67-111-92-118-7947-174512-268
Others -1712571825-1814-89217
Cash Flow From Financing Activity -1011-3213-54-187-136141-270
Net Proceeds from Shares 0111744400001
Net Proceeds from Borrowing 0000000000
Interest Paid -10-1000-15-15-29-34
Dividend Paid -9-6-15-37-31-54-153-99-116-99
Others 0-40100-19-22286-137
Net Cash Flow 09-5136616542118-131
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)43.5838.0932.6228.8725.1823.5323.6625.9326.6419.19
ROCE (%)60.6950.7248.1543.5337.6534.3432.634.8232.2722.71
Asset Turnover Ratio1.961.731.521.421.331.211.091.051.010.79
PAT to CFO Conversion(x)1.31.021.131.11.131.071.221.331.231.47
Working Capital Days
Receivable Days15151516141515141313
Inventory Days677689121287
Payable Days9588808794100121121106123

Dr. Lal Pathlabs Ltd Stock News

Dr. Lal Pathlabs Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Dr. Lal Pathlabs on 12-Apr-2024 10:20 is ₹2,364.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 10:20 the market cap of Dr. Lal Pathlabs stood at ₹19,692.4.
The latest P/E ratio of Dr. Lal Pathlabs as of 12-Apr-2024 10:20 is 53.76.
The latest P/B ratio of Dr. Lal Pathlabs as of 12-Apr-2024 10:20 is 10.37.
The 52-week high of Dr. Lal Pathlabs is ₹2,766.9 and the 52-week low is ₹1,848.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dr. Lal Pathlabs is ₹1,919 ( Cr.) .

About Dr. Lal Pathlabs Ltd

The company was incorporated as ‘Dr. Lal PathLabs Private Limited’, a private limited company under the Companies Act, 1956, with a certificate of incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana (RoC) on February 14, 1995 at Delhi. Subsequently, the name of the company was changed to ‘Dr. Lal PathLabs Limited’ upon conversion of the company into a public limited company pursuant to a special resolution of the shareholders of the company dated August 7, 2015 and a fresh certificate of incorporation was issued by the RoC on August 19, 2015. There has been no change in the registered office of the company since incorporation of the company.

The company focuses on providing patients quality diagnostic and related healthcare tests and services. The company’s focus on the patient as a customer is a critical differentiator in the diagnostic and healthcare industries and, together with what its brand’s recognition for quality diagnostic services, results in individuals and healthcare providers choosing it as their diagnostic healthcare service provider. This is because (i) in India, patients generally choose their diagnostic healthcare service provider and (ii) patients and healthcare providers seek quality healthcare service providers due to what range in quality and reliability of diagnostic healthcare services in India.

With over 3,368 diagnostic and related healthcare tests and services offered, the company is capable of performing substantially all of the diagnostic healthcare tests and services currently prescribed by physicians in India. Its diagnostic and related healthcare tests and services include (i) routine clinical laboratory tests - such as blood chemistry analyses and blood cell counts; (ii) specialized testing services - such as histopathology analyses, genetic marker-based tests, viral and bacterial cultures and infectious disease tests; and (iii) preventive testing services - such as screenings for hypertension, heart disease and diabetes. It performs these tests and services in its clinical laboratories using sophisticated and computerized instruments.

The company has built a national, “hub and spoke” network that includes its National Reference Laboratory in New Delhi. The company’s “hub and spoke” model, whereby specimens are collected across multiple locations within a region for delivery to a predesignated clinical laboratory for centralized diagnostic testing, provides greater economies of scale and offers a scalable platform for the continued growth of its business. Its network is present across India, including large cities such as New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad and Kolkata. The company’s centralized information technology platform fully integrates its large network through a common logistics and payments system and tracks its operations and internal performance metrics, thereby enabling it to improve the efficiencies of its business.

Business area of the company

The company is a provider of diagnostic and related healthcare tests and services in India. Through its integrated, nationwide network, the company offers patients and healthcare providers 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. Its customers include individual patients, hospitals and other healthcare providers and corporate customers.

Awards and accreditations

  • 2001: Received the ISO 9001:2008 certification for the quality management system for performance of routine and advanced diagnostic pathology testing services, including in clinical trials.
  • 2002: Fully accredited by the College of American Pathologists’ Laboratory Accreditation Program.
  • 2008: Awarded the CNBC TV18 Emerging India Award 2008 by ICICI Bank Business Banking in the pharmaceuticals and chemicals category.
  • 2010: Franchisor of the Year in healthcare, at the Franchise Plus Awards.
  • 2010: Honourable mention in the healthcare category at the Milagrow Trailblazers Brand Innovator Awards.
  • 2012: Diagnostic Service Provider Company of the Year, by Frost & Sullivan at the 4th Annual India Healthcare Excellence Awards.
  • 2012: Named a Computerworld Honours Laureate by the Computerworld Honours Program for innovative use of information technology to conduct research, develop new diagnostic methods and services and improve quality and access of patients to healthcare.
  • 2013: Best Diagnostic Company in India at the VC Circle Healthcare Summit.
  • 2014: Received the ISO 27001:2013 certification for the information management system for providing data center services and supporting functions.
  • 2014: Received an NABL certificate of accreditation under standard ISO 15189:2012 for “Medical Laboratories - Requirements for Quality and Competence” for medical testing, for National Reference Laboratory.
  • 2015: Data Quest Technology Award for Excellence in the implementation and use of technology for business benefits in the ‘Cloud’ category.
  • 2015: Received the certificate of affiliation from the Healthcare Sector Skill Council for role as medical laboratory technician in relation to institute at Gurgaon, Haryana, India.

Major events and milestones

  • 2005, 2007: Investment by WestBridge I Investments Holdings.
  • 2008: Acquisition of Paliwal Medicare and Paliwal Diagnostics.
  • 2010: Establishment of its National Reference Laboratory.
  • 2010, 2013: Investment pursuant to purchase of shares by Wagner Limited from WestBridge I Investment Holdings.
  • 2013: Investment pursuant to purchase of shares by WestBridge Crossover Fund, LLC from WestBridge I Investment Holdings.
  • 2013: Investment by SIH.
  • 2014: Acquisition of APL Clinical Institute of Clinical Laboratory & Research.
  • 2015: Amalgamation of Sanya Chemicals Private, Amolak Diagnostics, Medex Healthcare, Medicave Diagnostic Centre, Medicave Medical Systems and the company.
  • 2016: the Parent Company has set up new/acquired laboratories at various locations in India and some new patient service centers at various locations.
  • 2017: The Company had acquired 10% addiOonal equity stake in its exisOng two subsidiaries - Paliwal DiagnosOc Private Limited (PDPL) and Paliwal Medicave Private Limited (PMPL).
  • 2017: the Company has acquired 100% equity stake in “Delta Ria and Pathology Private Limited”, engaged in the business of providing pathological diagnosOcs services in Bhopal.
  • 2019: Company’s Wholly Owned Subsidiary viz M/s PathLabs Unifiers Private Limited acquired 70% equity stake in M/s Centrapath Labs Private Limited and M/s APRL PathLabs Private Limited consequent upon which both these Companies became subsidiaries of the Company.
  • 2019: The company acquired 70% equity stake in “APRL PathLabs Private Limited”, engaged in the business of providing pathological diagnostics services, on a going concern basis.
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