Minerva Capital Research Solutions

Dr. Lal PathLabs

NSE: LALPATHLABBSE: 539524
Compare with peers
₹ 1,915.70▲ 25.7 (+1.36%)28 Oct, 03:29 pm IST
Market cap
₹ 30,811 Cr.
P/E
54.9x
P/B
12.27x
52-week range
1,272.6 – 2,038.6
ROE
22%
ROCE
28%
Dividend yield
0.9%
Debt / equity
0.08
Sector
Healthcare Services
Industry
Healthcare Service Provider
Listed on
NSE, BSE

About

Dr. Lal PathLabs Limited is an India-based provider of diagnostic and related healthcare tests and services. The Company is engaged primarily in the business of running laboratories for carrying out pathological investigations in various branches of bio-chemistry, hematology, histopathology, microbiology, electrophoresis, immuno-chemistry, immunology, virology, cytology, and other pathological and radiological investigations. It offers a range of tests, including Pregnancy Test, Full Body Checkups, Covid 19 Test, Heart Test, Kidney Test, Liver Test, Cholesterol Test, Hepatitis B Test, Kidney Function Test, Sugar Test, Thyroid Test, Typhoid Test, Uric Acid Test, Vitamin B12 Test and vitamin D Test. It has approximately 298 clinical laboratories (including National Reference Lab at Delhi, Regional Reference Lab in Kolkata, Bangalore and Mumbai), 6,607 patient service centers, and 12,365 pick-up points (PUPs). Its customers include individual patients, hospitals, and corporate customers.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Healthcare Service Provider: 36 companies →

Dr. Lal PathLabs against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)54.9 against a typical 20.5: pricier than most peers (1st = cheapest).27th of 34
  • Sales growth+19.1% against a typical +19.1% from a year earlier.16th of 31
  • Profit growth+26.9% against a typical +25.2% from a year earlier.11th of 24
  • Share price, 3 months+0.4% against a typical −7.5%.10th of 33
  • Size₹ 30,811.2 Cr. market value against a typical ₹ 83 Cr. (1st = largest).1st of 34

Latest announcements

Exchange filings and their impact on the company.

  • 13 Oct 2026General UpdatesLow impactPositivePrice +1.4% on 14 Oct
    Wholly-owned unit bought the remaining 30% of Centrapath Labs, making it fully owned with only minor profit accretion.

    On October 13, 2026, PathLabs Unifiers, the wholly owned subsidiary of Dr. Lal PathLabs, acquired the remaining 30% stake in Centrapath Labs. Centrapath Labs is now a wholly owned subsidiary of PathLabs Unifiers. The filing gives no deal value, and as it was already consolidated, it adds no new sales but slightly increases profit attributable to owners.

    Filing
  • 8 Oct 2026General UpdatesLow impactNeutralPrice −2.4% that day
    Tax department appealed to ITAT against order that had favoured Dr Lal; no new demand disclosed.

    Dr Lal PathLabs said the Income Tax Department has filed an appeal before the ITAT in New Delhi against an earlier appellate order that was in the company's favour. This follows an assessment order disclosed in April 2024 and a favourable appeal order disclosed in July 2026. No tax amount was disclosed, and there is no immediate payment, so the case remains a contingent liability with only ongoing legal costs.

    Filing

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

High safety

Rated AA+ by CARE
AA+
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
CARECARE AA+Stable1 Apr 2026
Credit rating actions
RatingDetails
1 Apr 2026
▲ Upgrade
CARE AA+—CARE—

Research by Minerva Capital Research Solutions

Our research team's work on Dr. Lal PathLabs

Also covered in

Diagnostics Sector
Sector note · 27 Mar 2025 · Free

Board meetings

Results dates and other board meetings. Full calendar

Details
4 Nov 2026UpcomingDividendTo consider 2nd interim dividend for FY 26-27, if any
24 Jul 2026Financial Results/Other business mattersTo consider and approve the financial results for the period ending Jun 30, 2026 and other business mattersPlease note that this Board Meeting pertains to the Financial Year 2026 2027. However, while submitting this announcement, the Financial Year is being auto-populated as 2025 2026. Since this field is system-generated and cannot be modified by us, we are submitting the announcement with the Financial Year reflecting as 2025 2026.We request you to kindly take note of the above and consider this announcement as pertaining to the Financial Year 2026 2027.
30 Apr 2026Financial Results/Other business mattersTo consider and approve the financial results for the period ended March 31, 2026 and other business matters
30 Jan 2026DividendTo consider 3rd Interim dividend, if any for FY 2025-26
31 Oct 2025Financial Results/Dividend/Bonus/Other business mattersTo consider and approve the financial results for the period ended September 30, 2025, dividend and to consider issuing bonus shares and other business matters
31 Jul 2025Financial Results/Dividend/Other business mattersTo consider and approve the financial results for the period ended Jun 30, 2025, dividend and other business matters
25 Apr 2025Financial Results/Dividend/Other business mattersTo consider and approve the financial results for the period ended March 31, 2025, dividend and other business matters

Share price

1Y change +21.86%
0 of 2 filing days came with a big price move
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales601539545602660597603670731660703798
Expenses424398401432458443434478506480516550
Operating Profit178141145170202154169192224179187248
OPM %30%26%27%28%31%26%28%29%31%27%27%31%
Other Income181818212225262825−62432
Interest877665555766
Depreciation363637353536363540424544
Profit before tax152116120150183138153181204124160229
Tax %27%29%28%28%29%29%−1%26%25%26%17%25%
Net Profit11182861081319815613415291132170
EPS in Rs6.554.875.066.377.735.789.267.98.995.47.8410.11

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
13%
5 Years
12%
3 Years
11%
TTM
14%
Compounded Profit Growth
10 Years
15%
5 Years
12%
3 Years
30%
TTM
10%
Stock Price CAGR
10 Years
15%
5 Years
0%
3 Years
18%
TTM
—
Return on Equity
10 Years
22%
5 Years
21%
3 Years
22%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
53.19%
−0.6 pts in a year
FIIs
17.35%
−4.34 pts in a year
DIIs
21.59%
+3.97 pts in a year
Government
0.01%
−0.28 pts in a year
Public
7.48%
+1.26 pts in a year
Others
0.38%
−0.01 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 54.9xEPS (12 months) ₹ 33.55Median P/E 56.4x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Dr. Lal PathLabs₹ 1,915.70₹ 30,811 Cr.54.9x12.3x22%—
Apollo Hospitals Enterprise₹ 7,731.95₹ 1,11,174 Cr.64.9x13.4x22%7.8%
Max Healthcare Institute₹ 817.00₹ 79,519 Cr.71.5x9.9x14.3%17.2%
Fortis Healthcare₹ 720.00₹ 54,357 Cr.67.9x7.3x11.1%11.7%
Aster DM Healthcare₹ 651.00₹ 56,817 Cr.102.6x9.3x9.7%9.2%
Narayana Hrudayalaya₹ 1,667.25₹ 33,862 Cr.48.1x9.1x19.9%10.3%

Management

Arvind Lal
Executive Chairman of the Board
Shankha Banerjee
Chief Executive Officer
Ved Prakash Goel
Group Chief Financial Officer and Chief Executive Officer - International Business
Jai Prakash Meena
Chief Operating Officer
Manoj Kumar Garg
Group Chief Human Resources Officer
Munender Soperna
Group Chief Information and Digital Officer
Vinay Gujral
Compliance Officer, Company Secretary
Vandana Lal
Whole-Time Director

Prices are delayed and for information only. Nothing on this page is investment advice.