Dr. Lal Pathlabs Ltd.

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lalpathlabs.comBSE: 539524NSE: LALPATHLAB

Market Cap₹ 32,172 Cr.

Current Price

High / Low₹ 1,989 / 1,273

Stock P/E59.4

Book Value₹ 156

Price to Book9.01

Dividend Yield1.07 %

ROCE29.6 %

ROE22.4 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence

50%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 29.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 22.9%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 27.2% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.28x)

CONS

Valuation is stretched - P/E of 59.4 is well above its own 5-year median (26.4)
Stock is trading at 9.0x its book value
Expensive relative to growth - PEG of 2.1

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcareHospital & Healthcare Services

Part ofNIFTY SMLCAP 250 NIFTY SMLCAP 50 NIFTY 500 NIFTY TOTAL MKT NIFTY SML250 Q50

S.No.	Name
1.	APOLLOHOSP	8875.00	61.07	127608.88	0.23	610.40	38.41	7043.50	20.56	21.73	15.70
2.	MAXHEALTH	1039.00	69.41	101126.94	0.19	322.96	4.87	2366.17	16.70	14.97	25.29
3.	MANIPALHOS	733.10	108.07	96430.30	0.00	2434.30	—	30906.30	—	13.93	23.83
4.	FORTIS	901.80	64.97	68082.13	0.11	272.80	2.26	2545.03	17.46	14.07	21.28
5.	ASTERDM	766.70	209.71	66831.13	0.00	29.28	-68.70	1310.68	21.60	11.26	19.53
6.	MEDANTA	1459.55	70.56	39243.18	0.03	157.25	-1.09	1304.05	26.50	19.38	21.99
7.	NH	1909.10	47.80	39014.52	0.24	207.27	5.37	2683.63	78.05	16.20	17.43
8.	KIMS	772.75	158.86	32456.00	0.00	37.40	-56.00	1179.50	35.33	11.51	19.03
9.	LALPATHLAB	1916.70	59.37	32171.58	1.07	1705.00	1172.39	7977.00	1090.95	29.56	31.03
10.	AGARWALEYE	505.05	107.92	16011.41	0.00	55.02	44.56	614.02	25.97	16.14	27.75
11.	VIJAYA	1498.50	82.32	15434.21	0.13	53.10	37.61	230.98	22.83	30.28	42.66
12.	RAINBOW	1460.75	51.99	14836.35	0.24	62.54	16.23	469.99	33.17	28.25	28.65

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	541	601	539	545	602	660	597	603	670	731	660	703	7,977
	395	424	398	401	432	458	443	434	478	506	480	516	6,009
Operating Profit	146	178	141	145	170	203	154	169	192	224	179	187	1,968
OPM %	27.02%	29.57%	26.09%	26.53%	28.24%	30.67%	25.81%	28.05%	28.71%	30.67%	27.17%	26.58%	24.67%
	14	18	18	18	21	22	25	26	28	25	-6	24	319
Interest	8	8	7	7	6	6	5	5	5	5	7	6	63
Depreciation	35	36	36	37	35	35	36	36	35	40	42	45	444
Profit before Tax	118	152	116	120	150	183	138	153	181	204	124	160	2,287
Tax %	28.85%	27.27%	29.08%	28.44%	28.09%	28.56%	29.07%	-1.37%	26.01%	25.25%	26.47%	17.43%	25.45%
Net Profit	0	0	0	0	108	131	98	156	134	152	91	132	1,705
	9.95	13.16	9.77	10.13	12.79	15.52	5.80	9.29	15.88	18.05	5.42	7.86	10.15

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	912	1,057	1,203	1,330	1,581	2,087	2,017	2,227	2,461	2,763	10,070
	675	793	910	987	1,145	1,527	1,527	1,617	1,766	1,980	7,512
Operating Profit	238	264	294	344	436	561	490	609	696	783	2,558
OPM %	26.03%	24.98%	24.40%	25.83%	27.59%	26.86%	24.29%	27.36%	28.26%	28.32%	25.40%
	28	31	46	55	51	53	42	69	93	71	362
Interest	1	1	1	15	16	30	38	29	22	23	81
Depreciation	28	33	38	73	77	108	150	144	142	162	571
Profit before Tax	237	261	301	311	394	475	344	505	625	669	2,775
Tax %	34.30%	34.27%	33.30%	26.70%	24.83%	26.25%	29.88%	28.32%	21.21%	23.81%	25.02%
Net Profit	156	172	200	228	296	350	241	362	492	510	2,081
EPS	18.95	20.82	24.15	27.37	35.25	41.57	28.74	42.85	58.28	30.13	—
Dividend Payout %	16.12%	21.96%	25.11%	44.27%	57.16%	29.00%	41.89%	56.00%	41.18%	68.05%	—

COMPOUNDED SALES GROWTH

10 Years:: 13%
5 Years:: 12%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: 14%
5 Years:: 12%
3 Years:: 28%

STOCK PRICE CAGR

10 Years:: 13%
5 Years:: -2%
3 Years:: 20%
1 Year:: 16%

RETURN ON EQUITY

10 Years:: 24%
5 Years:: 22%
3 Years:: 23%
Last Year:: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	83	83	83	83	83	83	83	83	84	168
Minority Interest	2	4	5	21	31	35	33	36	34	33
	504	687	834	917	1,122	1,360	1,525	1,715	2,032	2,275
	7	8	1	93	110	485	367	103	103	145
Trade Payables	52	65	80	118	144	147	156	187	167	181
	27	52	65	120	143	199	181	287	211	257
Total Liabilities	676	899	1,069	1,351	1,633	2,310	2,345	2,411	2,630	3,058
	152	208	209	413	447	1,369	1,305	1,194	1,135	1,224
Capital Work in Progress	16	10	3	10	6	14	3	4	3	5
	106	145	185	164	59	65	150	114	327	423
	18	27	29	57	43	53	34	37	36	44
	0	0	0	0	0	0	0	77	88	111
Cash & Bank	240	314	490	569	926	618	665	830	839	910
	145	196	153	138	152	191	188	155	202	343
Total Assets	676	899	1,069	1,351	1,633	2,310	2,345	2,411	2,630	3,058

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	323	291	323	377	500	577	562	535	569	636
Cash from Investing	-137	-172	-100	-26	-212	-449	-287	-24	-303	-422
Cash from Financing	-32	13	-55	-190	-139	136	-283	-414	-334	-264
	2	37	64	67	48	134	-114	97	-68	-50

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
54.60	53.92	53.91	53.91	53.79	53.21	53.21	53.21	53.19
25.43	26.82	26.82	23.90	21.69	21.86	20.29	17.18	17.35
12.42	12.60	12.88	15.79	17.49	18.08	19.06	21.23	21.45
0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01
7.26	6.37	6.11	6.10	6.74	6.58	7.43	8.35	7.99

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Dr. Lal Path Labs Ltd. has informed the Exchange about Copy of Newspaper Publication

2026-08-27

General Updates

2026-08-27 - Dr. Lal Path Labs Ltd. has informed the Exchange about General Updates

2026-08-19

General Updates

2026-08-19 - Incorporation of a Step-Down Subsidiary Company

2026-08-06

ESOP/ESOS/ESPS

2026-08-06 - Dr. Lal Path Labs Ltd. has informed the Exchange regarding Allotment of 211050 Shares.

2026-07-30

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-30 - Dr. Lal Path Labs Ltd. has informed the Exchange about Transcript

2026-07-26

Change in Director(s)

2026-07-26 - Dr. Lal Path Labs Ltd. has informed the Exchange regarding Change in Director(s) of the company.

2026-07-25

Shareholders meeting

2026-07-25 - Dr. Lal Path Labs Ltd. has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 25, 2026. Further, the company has informed the Exchange regarding voting results.

2026-07-25

Shareholders meeting

2026-07-25 - Dr. Lal Path Labs Ltd. has informed the Exchange regarding Proceedings of Annual General Meeting held on July 25, 2026

2026-07-25

Copy of Newspaper Publication

2026-07-25 - Dr. Lal Path Labs Ltd. has informed the Exchange about Copy of Newspaper Publication

News

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