On consolidated basis
Quarter ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Dr Lal Pathlabs has increased 9.80% to Rs 660.2 crore. Operating profit margin has jumped from 29.57% to 30.67%, leading to 13.89% rise in operating profit to Rs 202.50 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 20.36% to 19.28%. Employee cost increased from 17.53% to 18.78%. Other expenses fell from 32.55% to 31.26%. Selling and administration expenses rose from 14.17% to 14.19%. Other income rose 20.99% to Rs 21.9 crore. PBIDT rose 14.55% to Rs 224.4 crore. Provision for interest fell 23.08% to Rs 6 crore. Loan funds declined from Rs 299.20 crore as of 30 September 2023 to Rs 198.50 crore as of 30 September 2024. Inventories rose to Rs 46.80 crore as of 30 September 2024 from Rs 40.90 crore as of 30 September 2023. Sundry debtors were higher at Rs 90.10 crore as of 30 September 2024 compared to Rs 85.50 crore as of 30 September 2023. Cash and bank balance rose to Rs 838.00 crore as of 30 September 2024 from Rs 786.40 crore as of 30 September 2023. Investments rose to Rs 288.70 crore as of 30 September 2024 from Rs 110.40 crore as of 30 September 2023 . PBDT rose 16.11% to Rs 218.4 crore. Provision for depreciation fell 1.67% to Rs 35.3 crore. Fixed assets increased to Rs 641.60 crore as of 30 September 2024 from Rs 390.80 crore as of 30 September 2023. Intangible assets declined from Rs 878.30 crore to Rs 548.40 crore. Profit before tax grew 20.30% to Rs 183.10 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 52.3 crore, compared to Rs 41.5 crore. Effective tax rate was 28.56% compared to 27.27%. Minority interest increased 14.29% to Rs 1.60 crore. Net profit attributable to owners of the company increased 18.21% to Rs 129.20 crore. Equity capital increased from Rs 83.50 crore as of 30 September 2023 to Rs 83.60 crore as of 30 September 2024. Per share face Value remained same at Rs 10.00. Promoters’ stake was 53.92% as of 30 September 2024 ,compared to 54.61% as of 30 September 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Dr Lal Pathlabs has increased 10.49% to Rs 1262.1 crore. Operating profit margin has jumped from 28.36% to 29.51%, leading to 14.97% rise in operating profit to Rs 372.50 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 20.62% to 19.55%. Employee cost increased from 18.39% to 19.06%. Other expenses fell from 32.63% to 31.88%. Selling and administration expenses rose from 13.98% to 14.06%. Other income rose 30.77% to Rs 42.5 crore. PBIDT rose 16.41% to Rs 415 crore. Provision for interest fell 24.05% to Rs 12 crore. Loan funds declined from Rs 299.20 crore as of 30 September 2023 to Rs 198.50 crore as of 30 September 2024. Inventories rose to Rs 46.80 crore as of 30 September 2024 from Rs 40.90 crore as of 30 September 2023. Sundry debtors were higher at Rs 90.10 crore as of 30 September 2024 compared to Rs 85.50 crore as of 30 September 2023. Cash and bank balance rose to Rs 838.00 crore as of 30 September 2024 from Rs 786.40 crore as of 30 September 2023. Investments rose to Rs 288.70 crore as of 30 September 2024 from Rs 110.40 crore as of 30 September 2023 . PBDT rose 18.29% to Rs 403 crore. Provision for depreciation fell 1.41% to Rs 70 crore. Fixed assets increased to Rs 641.60 crore as of 30 September 2024 from Rs 390.80 crore as of 30 September 2023. Intangible assets declined from Rs 878.30 crore to Rs 548.40 crore. Profit before tax grew 23.47% to Rs 333.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 94.4 crore, compared to Rs 75.4 crore. Effective tax rate was 28.35% compared to 27.96%.Minority interest increased 25% to Rs 3.00 crore. Net profit attributable to owners of the company increased 22.77% to Rs 235.60 crore. Equity capital increased from Rs 83.50 crore as of 30 September 2023 to Rs 83.60 crore as of 30 September 2024. Per share face Value remained same at Rs 10.00. Promoters’ stake was 53.92% as of 30 September 2024 ,compared to 54.61% as of 30 September 2023 .
Full year results analysis.
Net sales (including other operating income) of Dr Lal Pathlabs has increased 10.40% to Rs 2226.6 crore. Operating profit margin has jumped from 24.29% to 27.36%, leading to 24.37% rise in operating profit to Rs 609.30 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 22.17% to 20.27%. Employee cost increased from 18.67% to 19.06%. Other expenses fell from 34.87% to 33.30%. Selling and administration expenses rose from 13.98% to 14.06%. Other income rose 65.95% to Rs 69.2 crore. PBIDT rose 27.63% to Rs 678.5 crore. Provision for interest fell 21.60% to Rs 29.4 crore. Loan funds declined from Rs 419.50 crore as of 31 March 2023 to Rs 246.90 crore as of 31 March 2024. Inventories rose to Rs 37.30 crore as of 31 March 2024 from Rs 33.80 crore as of 31 March 2023. Sundry debtors were higher at Rs 77.40 crore as of 31 March 2024 compared to Rs 70.80 crore as of 31 March 2023. Cash and bank balance rose to Rs 830.30 crore as of 31 March 2024 from Rs 665.40 crore as of 31 March 2023. Investments declined from Rs 149.90 crore as of 31 March 2023 to Rs 113.80 crore as of 31 March 2024. PBDT rose 31.37% to Rs 649.1 crore. Provision for depreciation fell 4.39% to Rs 143.6 crore. Fixed assets declined from Rs 762.20 crore as of 31 March 2023 to Rs 685.00 crore as of 31 March 2024. Intangible assets increased from Rs 547.80 crore to Rs 548.20 crore. Profit before tax grew 46.99% to Rs 505.50 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 143.2 crore, compared to Rs 102.8 crore. Effective tax rate was 28.33% compared to 29.89%. Minority interest increased 109.09% to Rs 4.60 crore. Net profit attributable to owners of the company increased 49.73% to Rs 357.70 crore. Equity capital increased from Rs 83.40 crore as of 31 March 2023 to Rs 83.50 crore as of 31 March 2024. Per share face Value remained same at Rs 10.00. Promoters’ stake was 54.60% as of 31 March 2024 ,compared to 55.03% as of 31 March 2023 . Cash flow from operating activities increased to Rs 535.40 crore for year ended March 2024 from Rs 456.00 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 57.50 crore, compared to Rs 44.60 crore during the year ended March 2023. Other Highlights
The board declared a 2nd Interim Dividend
of Rs 6 per equity share on a face value of Rs 10 each for the financial year
2024-25. The record date for the purpose of payment of 2nd Interim Dividend
shall be November 5, 2024.
In Q2 FY25, sample growth was 8.6% YoY and
patient volume growth was 3.9% YoY. Revenue per patient stood at Rs 844, higher
by 5.7% YoY.
In H1, FY25, sample growth was 9.1% YoY
and patient volume growth was 4.8% YoY.
SwasthFit portfolio continue to deliver
robust growth in Q2FY25, its contribution was 24% to sales.
The company is on track to open 15-20 new
labs this year.
Management Comments :
Commenting on the performance, (Hony)
Brig. Dr. Arvind Lal, Executive Chairman said: “I am glad that we have been
able to maintain our market position in the highly fragmented Indian
diagnostics space due to strong brand, exceptional service quality and
extensive network. We are building on this strength to remain competitive and
expand our presence in the underserved Tier 3 and 4 towns. Today, there is
growing importance of digital health solutions, and we are making best efforts
to leverage technology to enhance patient experience and efficiency. While
doing so, we are exploring opportunities in home healthcare, recognizing the
increasing demand for convenient and personalized services. All this without
increasing prices, and keen focus on volume growth and operational efficiency.
Govt. initiatives, rising consumer awareness and technological advancements are
driving consolidation in the industry where organised players are gaining
market share. DLPL, best known for its emphasis on quality, reliability,
affordability and accuracy, is well-positioned to capitalize this opportunity
and drive sustained outperformance.”
Dr. Om Manchanda, Managing Director said: “We
are pursuing initiatives that will drive growth in the longterm, across both
core and upcoming geographies. Our early expansion into Tier 3 and Tier 4 towns
is a step in this direction and remains supported by creation of new testing
infrastructure and improved patient access. Swasthfit remains a significant
contributor to our volumes and revenue, and we continue to expand this
offering. There is a clear focus to strengthen digital infrastructure too,
where we are focusing on automation and cybersecurity so as to enhance both,
data protection and service quality. Our asset-light strategy for organic
expansion remains on track. In the West, the Suburban acquisition is yielding
positive results, given our franchising and B2B initiatives. In the South we
are evaluating options that can be a right fit to our approach. Thus, given our
brand, reach and outlined growth initiatives it should be natural for us to
sustain leadership in key operating parameters going forward.”
Mr. Shankha Banerjee, Chief Executive
Officer-Designate said: “We are pleased to report continued momentum, with a
9.8% growth in revenue and 18.1% PAT growth. Whereas we are gradually building
back volumes, there is momentum in realization mix. Our expansion efforts
remain on track, with plans to open 15-20 additional labs while increasing the
number of collection centersin an accelerated manner. Our focus on reaching
underserved markets remains unwavering. In line with our strategic goals, we
are advancing our offerings, particularly in bundled testing for
noncommunicable diseases, which aligns with growing healthcare needs. We are
executing broader brand campaigns across major cities and especially in newer towns,
to strengthen brand visibility within local communities. Initiatives to foster
loyalty are also underway, so as to encourage patient growth within our core
audience. Our Centers of Excellence are ramping up well and contributing to
this objective. As a leading national network, Dr. Lal Pathlabs is in the right
position to sustain benchmarks on the operating and performance metrics.”
| Dr Lal Pathlabs : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 660.20 | 601.30 | 9.80 | 1,262.10 | 1,142.30 | 10.49 | 2,226.60 | 2,016.90 | 10.40 | | OPM (%) | 30.67 | 29.57 | 110 bps | 29.51 | 28.36 | 115 bps | 27.36 | 24.29 | 307 bps | | OP | 202.50 | 177.80 | 13.89 | 372.50 | 324.00 | 14.97 | 609.30 | 489.90 | 24.37 | | Other Inc. | 21.90 | 18.10 | 20.99 | 42.50 | 32.50 | 30.77 | 69.20 | 41.70 | 65.95 | | PBIDT | 224.40 | 195.90 | 14.55 | 415.00 | 356.50 | 16.41 | 678.50 | 531.60 | 27.63 | | Interest | 6.00 | 7.80 | -23.08 | 12.00 | 15.80 | -24.05 | 29.40 | 37.50 | -21.60 | | PBDT | 218.40 | 188.10 | 16.11 | 403.00 | 340.70 | 18.29 | 649.10 | 494.10 | 31.37 | | Depreciation | 35.3 | 35.9 | -1.67 | 70 | 71 | -1.41 | 143.6 | 150.2 | -4.39 | | PBT | 183.10 | 152.20 | 20.30 | 333 | 269.7 | 23.47 | 505.5 | 343.9 | 46.99 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 183.1 | 152.2 | 20.30 | 333 | 269.7 | 23.47 | 505.5 | 343.9 | 46.99 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 183.1 | 152.2 | 20.30 | 333 | 269.7 | 23.47 | 505.5 | 343.9 | 46.99 | | Taxation | 52.3 | 41.5 | 26.02 | 94.4 | 75.4 | 25.20 | 143.2 | 102.8 | 39.30 | | PAT | 130.8 | 110.7 | 18.16 | 238.6 | 194.3 | 22.80 | 362.3 | 241.1 | 50.27 | | Minority Interest (MI) | 1.6 | 1.4 | 14.29 | 3 | 2.4 | 25.00 | 4.6 | 2.2 | 109.09 | | Net profit | 129.2 | 109.3 | 18.21 | 235.6 | 191.9 | 22.77 | 357.7 | 238.9 | 49.73 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 129.2 | 109.3 | 18.21 | 235.6 | 191.9 | 22.77 | 357.7 | 238.9 | 49.73 | | EPS (Rs)* | 15.46 | 13.08 | 18.21 | 28.19 | 22.96 | 22.77 | 42.80 | 28.59 | 49.73 | | | * EPS is on current equity of Rs 83.57 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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