LALPATHLAB

Dr. Lal Path Labs share price & financials

Price
₹1,635.8
Market cap
₹31.5k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 30 Jul 2026

Dr. Lal Path Labs Ltd. Q1 FY27

Revenue ₹798 cr +19%EBITDA ₹247 cr +29%EBITDA Margin 31% PAT ₹170 cr +27%

What went well

  • Revenue grew by 19.1% YoY to ₹798 crores, marking the highest quarterly growth rate in the last 4 years.
  • EBITDA increased by 28.7% YoY to ₹247 crores, achieving a strong EBITDA margin of 31.0%.
  • Profit after tax (PAT) rose by 27.2% YoY to ₹170 crores, with a PAT margin of 21.4%.
Read the full call →

What Dr. Lal Path Labs Ltd. does

Dr. Lal PathLabs runs a pan-India pathology and radiology diagnostics network built around a hub-and-spoke model: a National Reference Lab in Delhi and Regional Reference Labs in Kolkata, Bengaluru and Mumbai anchor a chain of clinical laboratories, patient service centres (PSCs) and pick-up points (PUPs) that collect and process samples for walk-in, home-collection and B2B (hospital, doctor, corporate) customers. It earns by charging for pathology and radiology test panels sold both individually and as bundled preventive-health packages, and has extended the same model internationally with laboratories in Nepal and Bangladesh. Beyond routine testing, it runs specialised verticals in genomics, oncology, reproductive and auto-immune diagnostics under dedicated centres of excellence, and a newer preventive-wellness screening business.

Segments

  • Domestic Diagnostics (India)
  • International Diagnostics
Patient Service Centers (PSCs)
7,727
Pick-up Points (PUPs)
13,935
Clinical Laboratories
312
NABL-accredited Laboratories
53
CAP-accredited Laboratories
2
Reference Laboratories
National Reference Lab in Delhi plus Regional Reference Labs in Kolkata, Bengaluru and Mumbai
Founded 1949Headquarters New Delhi, India

Guidance record · Q1 FY27

what the last two calls moved 18 tracked 7 delivered 2 missed 9 open
  • Revenue Growth revised up said Q4 FY26 Promised: Early to mid-teens Q1 FY27: Revenue grew 19.1% YoY. Management now indicates a bias towards mid-teens growth for FY27, stating 'chances are we might be more towards mid-teens rather than early teens'.
  • Patient Volume Growth delivered said Q3 FY25 Promised: 7-8% (aspirational) Q4 FY26: Sample volume growth of 12.9% in Q4 and 10.4% for FY26.
  • New Lab Additions missed said Q4 FY25 Promised: 15-20 for FY26 Q4 FY26: Added 14 new labs in FY26.

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 19.2%, net profit up 28.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue631 569 577 641 700 +11%632 +11%675 +17%764 +19%
EBITDA194 151 159 183 215 +11%174 +15%182 +14%238 +30%
Net profit129 105 148 129 146 +13%92 −12%141 −5%166 +29%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −40.8% 1Y

₹1.5k₹2.0k₹2.5k₹3.0k₹3.5kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 31 Oct 2025Q3 FY26 — 30 Jan 2026Q4 FY26 — 6 May 2026Q1 FY27 — 30 Jul 2026

1Y: ₹3,223.7 on 10 Sept 2025 → ₹1,909. High ₹3,473.5 (19 Sept 2025), low ₹1,307.6 (23 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−0.2%
30 Jul
Q4 FY26
+3.2%
6 May
Q3 FY26
+1.0%
30 Jan
Q2 FY26
+1.5%
31 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 10.6% a year over 3 years, FY23 to FY26. Operating margin widened to 28.5%.

Year endingFY23FY24FY25FY26
Revenue₹2.0k Cr₹2.0k Cr₹2.4k Cr₹2.6k Cr
Operating profit₹491 Cr₹567 Cr₹665 Cr₹754 Cr
Operating margin25.1%28.2%28.3%28.5%
Interest₹36 Cr₹26 Cr₹22 Cr₹22 Cr
Depreciation₹134 Cr₹91 Cr₹135 Cr₹154 Cr
Net profit₹255 Cr₹376 Cr₹496 Cr₹508 Cr
Net margin13.0%18.7%21.1%19.2%
ROCE22.0%26.0%30.0%29.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹83 Cr₹83 Cr₹83 Cr₹83 Cr₹84 Cr₹168 Cr
Reserves₹1.1k Cr₹1.4k Cr₹1.6k Cr₹1.7k Cr₹2.3k Cr₹2.3k Cr
Borrowings₹0 Cr₹385 Cr₹281 Cr₹142 Cr₹156 Cr₹193 Cr
Other liabilities₹356 Cr₹354 Cr₹350 Cr₹406 Cr₹415 Cr₹383 Cr
Total liabilities₹1.6k Cr₹2.2k Cr₹2.3k Cr₹2.3k Cr₹3.0k Cr₹3.0k Cr
Fixed assets₹300 Cr₹371 Cr₹361 Cr₹1.1k Cr₹1.2k Cr₹1.1k Cr
Capital work in progress₹9 Cr₹14 Cr₹5 Cr₹6 Cr₹17 Cr₹7 Cr
Investments₹171 Cr₹1.1k Cr₹1.2k Cr₹213 Cr₹486 Cr₹513 Cr
Other assets₹1.1k Cr₹764 Cr₹740 Cr₹1.0k Cr₹1.2k Cr₹1.4k Cr
Total assets₹1.6k Cr₹2.2k Cr₹2.3k Cr₹2.3k Cr₹3.0k Cr₹3.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −4.34 pp while DIIs added +3.97 pp. The shareholder count shrank 6% to 1,11,037.

Promoters
53.2%
FIIs
17.4%
DIIs
21.6%
Government
0.0%
Public
7.5%
Others
0.4%

Since Jun 2025

  • FIIs −4.34 pp
  • DIIs +3.97 pp
  • Public +1.26 pp

How it drifted, 12 quarters

Over this window DIIs went from 8.8% to 21.6% — +12.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 54.6%, FIIs 24.4%, DIIs 8.8%, Government 0.3%, Public 11.5%, Others 0.4%.Dec '23: Promoters 54.6%, FIIs 25.4%, DIIs 9.3%, Government 0.3%, Public 10.1%, Others 0.4%.Mar '24: Promoters 54.6%, FIIs 26.1%, DIIs 9.4%, Government 0.3%, Public 9.2%, Others 0.3%.Jun '24: Promoters 54.6%, FIIs 25.4%, DIIs 12.4%, Government 0.3%, Public 7.0%, Others 0.3%.Sep '24: Promoters 53.9%, FIIs 26.8%, DIIs 12.6%, Government 0.3%, Public 6.0%, Others 0.3%.Dec '24: Promoters 53.9%, FIIs 26.8%, DIIs 12.9%, Government 0.3%, Public 5.8%, Others 0.3%.Mar '25: Promoters 53.9%, FIIs 23.9%, DIIs 15.8%, Government 0.3%, Public 5.8%, Others 0.3%.Jun '25: Promoters 53.8%, FIIs 21.7%, DIIs 17.6%, Government 0.3%, Public 6.2%, Others 0.4%.Sep '25: Promoters 53.2%, FIIs 21.9%, DIIs 18.2%, Government 0.3%, Public 6.1%, Others 0.4%.Dec '25: Promoters 53.2%, FIIs 20.3%, DIIs 19.2%, Government 0.0%, Public 6.9%, Others 0.3%.Mar '26: Promoters 53.2%, FIIs 17.2%, DIIs 21.4%, Government 0.0%, Public 7.9%, Others 0.3%.Jun '26: Promoters 53.2%, FIIs 17.4%, DIIs 21.6%, Government 0.0%, Public 7.5%, Others 0.4%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 6 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Dr. Lal Path Labs Ltd. above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Arvind Lal 30.14%unchanged
Vandana Lal 19.19%unchanged
HDFC Mutual Fund - HDFC Retirement Savings Fund - Equity Plan Mutual fund3.91%newly disclosed
UTI-Mid Cap Fund Mutual fund2.64%newly disclosed
Nippon Life India Trustee Ltd- A/C Nippon India Vi Mutual fund2.63%newly disclosed
Anjaneya Lal 2.02%unchanged
Smallcap World Fund, Inc Global fund house1.98%+0.56 pp
Archana Lal Erdmann 1.84%unchanged
Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund Mutual fund1.78%+0.37 pp
Life Insurance Corporation Of India Insurer1.47%unchanged
Titanium Hybrid Long-Short Fund AIF1.41%newly disclosed
SBI Nifty Smallcap 250 ETF Mutual fund1.39%newly disclosed

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in LALPATHLAB

Filings to Aug 2026

0 new, 5 added, 2 trimmed, 0 sold out — net −0.27 L shares (−0.2%).

Held by funds
₹2.4k Cr
16 schemes
Biggest holder
HDFC Flexi Cap Fund
₹796 Cr · 0.7% of that fund
SchemeHoldingLast month
HDFC Flexi Cap Fund HDFC Mutual Fund₹796 Crheld
SBI Large and Midcap Fund SBI Mutual Fund₹251 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹250 Crheld
Nippon India Multi Cap Fund Nippon India Mutual Fund₹222 Crheld
HDFC ELSS Tax saver HDFC Mutual Fund₹217 Crheld
Nippon India Pharma Fund Nippon India Mutual Fund₹194 Crheld
HDFC Retirement Savings Fund - Equity Plan HDFC Mutual Fund₹133 Crheld
SBI Dividend Yield Fund SBI Mutual Fund₹128 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 2 trimmed — net −27,246 shares (−0.2%)

Funds are sitting on
+18%
vs est. average cost
Held by funds
₹2.4k Cr
16 schemes · ≈ 6.4% of the company
Biggest holder
HDFC Flexi Cap Fund
₹796 Cr · 0.7% of that fund
Longest holder
SBI Large and Midcap Fund
2y 11m · since Oct '23

Shares held by these funds +16288%

Aug '23 1.23 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹1909, this stock must grow earnings at 35% every year for 7 years. Our analysis caps realistic growth at ~26%. At that growth it is worth ₹1220 — downside of 36%.

Growth the price implies
35.0% a year
for 7 years, fading to 4%
It has actually compounded at
25.8% a year
net profit, FY23–FY26
The gap
0.1 pp
-36% downside if it only repeats history
Price today ₹1,909 Value at the reference growth ₹1,219.78

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Dr. Lal Path Labs Ltd.

Guides on how to read this kind of business and the numbers that matter.