Dr. Lal Pathlabs Limited · NSE:LALPATHLAB
Dr. Lal Pathlabs — Q3 FY26 Earnings Presentation
42 slides from Dr. Lal Pathlabs's earnings presentation, Jan 30, 2026
Slide 1: Exchange filing cover letter
January 30, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Corporate Relationship Department Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street Mumbai – 400 051 Mumbai – 400 001 Symbol: LALPATHLAB Scrip Code: 539524 Sub: Earnings
Slide 2: Results Presentation Q3 FY26
Results Presentation Q3 FY26
Slide 3: Disclaimer
By attending the meeting / telephonic call where this presentation is made, or by reading the presentation materials, you agree to be bound by the following limitations: The information in this presentation has been prepared by Dr Lal PathLabs Limited (the “Company”) for use in presentations by the
Slide 4: Table of Contents
Table of Contents DLPL - At a Glance 4 Q3 FY26 Performance Overview 5 Financials 7 Key Performance Highlights 8 Management Commentary 12 Corporate Overview 13 Shareholding 38 Contact Us 40 DISCLAIMER: This presentation may contain ‘forward-looking’ statements at places. The Company’s business operat
Slide 5: Dr. Lal PathLabs – At a Glance
Dr. Lal PathLabs – At a Glance 75+ years of experience in India’s Leading & Trusted 131 Mn patients serviced in 40 NABL accredited Labs; the field of diagnostics Diagnostics Company last 5 years 2 CAP accredited Labs 6,607 5,012 298 Patient Service Centers (PSC’s) Pathology & Radiology tests; Labs;
Slide 6: Q3 FY26 Performance Overview
Q3 FY26 Performance Overview Q3 FY26 Q3 FY25 Gr% Revenue Rs. 660 crore Rs. 597 crore 10.6% EBITDA before exceptional items Rs. 179 crore Rs. 154 crore 16.3% PAT* Rs. 91 crore Rs. 98 crore -6.8% Patients 7.1 MN 6.9 MN 2.7% Samples 22.2 MN 20.6 MN 7.8% SwasthFitTM 26% 23% +3% Contribution * PAT after
Slide 7: 9M FY26 Performance Overview
9M FY26 Performance Overview 9M FY26 9M FY25 Gr% Revenue Rs. 2060 crore Rs. 1859 crore 10.8% EBITDA before exceptional items Rs. 596 crore Rs. 527crore 13.1% PAT* Rs. 378 crore Rs. 337 crore 12.2% Patients 22.9 MN 22.0 MN 4.4% Samples 70.9 MN 64.7MN 9.6% SwasthFitTM 26% 24% +2% Contribution * PAT af
Slide 8: Financials
Financials Particulars (Rs. Cr.) Q3 FY26 Q3 FY25 Gr % 9M FY26 9M FY25 Gr % Revenue 660 597 10.6% 2,060 1,859 10.8% Material consumed 129 117 399 364 Employee benefit Expenses 135 126 399 367 Fees to collection centres 96 87 294 264 Other Expenses 121 112 372 337 EBITDA before exceptional item 179 15
Slide 9: Key performance highlights
Key performance highlights ⚫ Revenue of Rs. 660 crore in Q3 FY26, a growth of 10.6% Y- o-Y; 9M FY26 revenue of Rs. 2060 crore, an increase of 10.8% Y-o-Y o Mainly sample volume driven (+7.8% Y-o-Y); Led by calibrated network expansion in our core metro markets and deeper penetration in Tier 3 and Ti
Slide 10: Operating highlights
Operating highlights No. of Clinical Laboratories No. of PSCs No. of PUPs +21 +1,876 +1,766 277 277 280 298 6,607 12,365 5,762 10,938 11,619 10,599 4,731 5,102 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 No. of Patients (Mn) No. of Samples (Mn) +1.5 +19.6 85.6 28.8 72.3 78.2 27.3 26.
Slide 11: Robust financial performance
Robust financial performance (INR Cr.) (INR Cr.) South Revenue India Others EBITDA, PAT and Return on Net Worth 2% West 6% Delhi & India NCR EBITDA PAT 14% 31% 2,461 696 2,227 Revenue by 609 2,017 Geography 490 492 East FY25 362 India 241 15% UP & UK Rest of 19% FY'23 FY'24 FY'25 North FY'23 FY'24 F
Slide 12: Robust financial performance (Cont’d)
Robust financial performance (Cont’d) Times (INR Cr.) Fixed Asset Turnover1 Cash and Cash Equivalents 12.3x 1,411 11.2x 1,229 10.1x 7.2X 877 601 FY23 FY24 FY25 9M FY26 FY23 FY24 FY25 9M FY26 1. Fixed Asset Turnover = Total Revenue / Net PP&E as per Ind AS 11
Slide 13: Management Commentary
Management Commentary (Hony.) Brig. Dr. Arvind Lal, Mr. Ved Prakash Goel, Mr. Shankha Banerjee, Padma Shri Group CFO & CEO – Chief Executive Officer Executive Chairman International Business Commenting on the performance, Mr. Shankha Banerjee, Commenting on the performance, Mr. Ved Prakash Goel, Com
Slide 14: Corporate Overview
Corporate Overview NATIONAL REFERENCE LAB KOLKATA REFERENCE LAB BENGALURU REFERENCE LAB MUMBAI REFERENCE LAB 13
Slide 15: Overview of Dr. Lal PathLabs
Overview of Dr. Lal PathLabs Established Pan-India Varied Unique and brand integrated Offerings successful coverage operating model 298 clinical labs (including National Reference Lab at Catalogue of 385 test panels, Scalable model integrated Established consumer Delhi and Regional Reference through
Slide 16: Our Evolution
Our Evolution • First to set-up RT-PCR testing network in 2020 • Completed acquisition of Suburban • 1949: Founded by Dr. Major • Investment by TA Associates Diagnostics in 2021 S. K. Lal • Clinical laboratories • Expanded South ecosystem through • 1995: Company expansion in North region Bengaluru R
Slide 17: Most trusted healthcare brand in Diagnostic Services
Most trusted healthcare brand in Diagnostic Services Lab/PSCs Sample Collection Pillar of a Strong Brand Home Online • Accreditations from Registration CAP, NABL and ISO Offline • Centrally Accreditations Walk-in administered customers surveillance Diverse and account for programs Single large Natio
Slide 18: Collection network
Collection network LPL’s scalable business model provides strategic advantage for expansion and consolidation National Reference Lab & Regional Ref. Lab Regional Reference Lab Single brand pulls patients Clinical Labs (Testing/Collection) Walk-in customers account for Patient Service Centers Pick-up
Slide 19: Digital Touchpoints across patient journey
Digital Touchpoints across patient journey ⚫ Patient App/Website – Order Booking, Reports, Find Nearby Center, Test Info, Expected ⚫ Historical Trends time of report, Live order SAMPLE COLLECTION status, App Notifications ⚫ Live tracking of samples, ⚫ Cumulative Reporting ⚫ Phlebo App – Scan lab int
Slide 20: ABDM - All Milestones achieved, DLPL among early adopters
ABDM - All Milestones acheived, DLPL among early adopters Ayushman Bharat Digital Mission aims to create a National Digital Health Ecosystem to bridge the existing gap amongst different stakeholders of Healthcare ecosystem through digital highways. The mission also enables interoperability and porta
Slide 21: Vision, Mission & Values
Vision, Mission & Values VISION MISSION VALUES Be the most To be an undisputed Customer First trusted healthcare market leader by providing Ethics & Integrity partner, enabling accessible, affordable, healthier lives timely and quality Quality healthcare, diagnostics, Accountability applying insight
Slide 22: DLPL Strategy for future growth
DLPL Strategy for future growth ⚫ Follow cluster city approach Drive increased volume in high- ⚫ Enhance presence in Maharashtra especially potential West & South India; Hub Mumbai labs in North ⚫ Launched Reference labs in Bengaluru & Mumbai ⚫ Established specialty verticals: Genevolve Enhance high
Slide 23: Leveraging digital infrastructure to make life easier for patients
Leveraging digital infrastructure to make life easier for patients New Website Launch Reco.ai Logistics App Wallet One Registration Chatbot 2.0 • New age user intuitive • LPL’s own AI based • Machine Learning • Senior Citizen Wallet: • One unified platform • New version of website. Recommendation ba
Slide 24: Genevolve: Genetic Testing Division
Genevolve: Genetic Testing Division Onco Genomics Neuro Genomics Rare Disease Reproductive Genomics Launched First Successful On-boarded Introduced a in India, Dedicated State of art completion of latest NGS range of “Business technologies instrument “Screening Development “5 years of Launch” “cfDNA
Slide 25: First in South Asia - Amyloid Typing
First in South Asia - Amyloid Typing Amyloid Protein Typing Facility Under the Guidance of the National Amyloidosis Centre, London (UK) 24
Slide 26: Highest Quality Standards in the Industry
Highest Quality Standards in the Industry Best in the Industry CAP Proficiency Testing Score at 98.0% for National Reference Lab Consistently high EQAS Performance Testing Score at 98.3% for Satellite Labs CAP accreditation 2 labs, NABL accreditation 40 Labs 100+ Quality Digitally improvement enable
Slide 27: Quality Control
Quality Control Laboratory excellence Capability building NABL 133 PROJECT NEEV- implementation LPL proficiency self learning testing program initiative for launch phlebotomists D L Shah Gold Award for Test Analytical Quality LPL Project Quality education Recommend Scoring & ‘Improving Laboratory pr
Slide 28: Control Tower Implementation
Control Tower Implementation “Control Tower” implementation provides a complete visibility of Patient samples across the sample processing lifecycle. The insights will help the business users to reduce delay and improve processing leading to better customer service. Control Tower Teams Front Desk Lo
Slide 29: Enhanced Customer Experience in Home Collection
Enhanced Customer Experience in Home Collection Real time 30 minutes slot D2C – Automated lead visibility & booking for the management patient Auto Routing engine to Digital ID card & dynamically allocate ratings of Phlebo to the booking to nearest the patient available phlebotomist Variable model w
Slide 30: Key ESG Initiatives
Key ESG Initiatives Commissioned 3.18 MW Solar System for generating Installed R32 refrigerant operated Inverter AC for the green energy Conserving ozone layer Use of Electric bikes for sample collection All labs are equipped with Effluent Treatment Plant for wastewater treatment Saved 16,43,858 Kg
Slide 31: Cyber Security Capability
Cyber Security Capability Data Loss Threat Prevention Intelligence • State-of-the-art data loss prevention • Threat intel platform to monitor the surface, technology to monitor and prevent the deep and dark web for credential disclosures, disclosure of information data leaks, frauds and scams • Data
Slide 32: Experienced Management team
Experienced Management team (Hony.) Brig. Dr. Vandana Lal Shankha Dr. Arvind Lal Banerjee Padma Shri Executive Whole-time Chief Executive Chairman Director Officer Ved Prakash Munender Jai Prakash Manoj Garg Goel Soperna Meena Group Chief Group CFO & Group Chief Chief Human CEO – Information & Opera
Slide 33: Investment Highlights
Investment Highlights 32
Slide 34: Investment Highlights
Investment Highlights Demonstrated high Best-in-class and scalability, integrated consistent financial through centralized IT track record with platform for network healthy return ratios expansion Largest consumer Consolidating Fundamental levers in healthcare brand in presence in place to drive dia
Slide 35: Indian Healthcare Services is a large and growing opportunity
Indian Healthcare Services is a large and growing opportunity ~1.51 bn 2.5% Healthcare expenditure as % of GDP (2021)4 India’s expected population in Government Expenditure on 20301 healthcare (as % of GDP) in FY255 India 3.3 China 5.4 India, highly underpenetrated INR 16.5-17.5 trillion ~50.6% Braz
Slide 36: Transforming Indian Healthcare Landscape through Diagnostics
Transforming Indian Healthcare Landscape through Diagnostics India’s diagnostics market Health insurance coverage Health Insurance penetration 40.9% 37.0% 37.8% 37.9% 39.7% 33.5% 36.5% 35.4% 620 27.8% 22.6% (INR BN) 333 385 197 755 441 490 275 FY17 FY23 FY24 FY28E CY15 CY16 CY17 CY18 CY19 CY20 CY21
Slide 37: Drivers of India diagnostic services market
Drivers of India diagnostic services market Diagnostic Services Industry Size Growth Drivers Demand for lifestyle Increase in Expected ~Rs. 1,200 Bn diseases related evidence-based 8-10% CAGR services to grow treatments ~Rs. 774 Bn FY23 FY28E Rapid Focus on Urbanization preventive diseases and welln
Slide 38: Diagnostic Services industry continues to remain highly fragmented
Diagnostic Services industry continues to remain highly fragmented Highly Fragmented Industry Standalone Centres Regional Chains 42-46% 55% Diagnostic 16-20% Chains 45% 36-40% Hospital Based Multi-Regional Labs Largely fragmented and unorganized Source: Industry Data, Nuvama Institutional Equities R
Slide 39: Shareholding as of 31st Dec, 2025
Shareholding as of 31st Dec, 2025 20.53% FPI’s & NRI’s 53.21% 9.38% Promoter and Others Promoter Group 16.88% Mutual Funds* 38 *Mutual Funds includes Alternate Investment Funds as well
Slide 40: Key Awards & Recognition
Key Awards & Recognition Outstanding Contribution Gold Award Award in Healthcare from Leading CFO of the year- Lifetime Achievement Top 100 Global Most QCI – D. L. Shah Quality Best Brands Healthcare Foundation for Quality (India) Healthcare sector (2024-25) Award Loved Workplace 2023 Awards - 2022
Slide 41: Contact Us
Contact Us About Dr. Lal PathLabs Limited (DLPL) Dr. Lal PathLabs Limited is one of India’s leading consumer healthcare brand in diagnostic services. It has an integrated nationwide network, where patients and healthcare providers are offered a broad range of diagnostic and related healthcare tests
Slide 42: Thank You
Thank You 41