Dr. Lal Pathlabs Limited · NSE:LALPATHLAB
Dr. Lal Pathlabs — Q2 FY26 Earnings Presentation
41 slides from Dr. Lal Pathlabs's earnings presentation, Oct 31, 2025
Slide 1: Exchange covering letter for earnings presentation
October 31, 2025 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 Q2 & H1FY26
Results Presentation Q2 & H1FY26
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 Q2 FY26 Performance Overview 5 Financials 6 Key Performance Highlights 7 Management Commentary 11 Corporate Overview 12 Shareholding 37 Contact Us 39 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: Q2 FY26 Performance Overview
Q2 FY26 Performance Overview Q2 FY26 Q2 FY25 Gr% Revenue Rs. 731 crore Rs. 660 crore 10.7% EBITDA Rs. 224 crore Rs. 202 crore 10.8% PAT Rs. 152 crore Rs. 131 crore 16.4% Patients 8.2 MN 7.8 MN 5.0% Samples 25.4 MN 23.0 MN 10.3% SwasthFitTM 26% 24% 2% Contribution 5
Slide 7: Financials
Financials Particulars (Rs. Cr.) Q2 FY26 Q2 FY25 Gr % H1 FY26 H1 FY25 Gr % Revenue 731 660 10.7% 1400 1262 11.0% Material consumed 142 127 271 247 Employee benefit Expenses 132 124 264 241 Fees to collection centres 106 94 198 177 Other Expenses 126 113 250 225 EBITDA 224 202 10.8% 416 372 11.8% Mar
Slide 8: Key performance highlights
Key performance highlights ⚫ Revenue reached Rs. 1400 crore in FH26, marking a Y-o-Y increase of 11.0% o Mainly sample volume driven (+10.4% Y-o-Y); Led by calibrated network expansion in our core metro markets and deeper penetration in Tier 3 and Tier 4 cities/ towns. o Swasthfit contributed 27% in
Slide 9: 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 10: 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 11: Robust financial performance (Cont’d)
Robust financial performance (Cont’d) Times (INR Cr.) Fixed Asset Turnover1 Cash and Cash Equivalents 12.3x 1,367 11.2x 1,229 10.1x 9.5x 877 601 FY23 FY24 FY25 FH26 FY23 FY24 FY25 FH26 1. Fixed Asset Turnover = Total Revenue / Net PP&E as per Ind AS 10
Slide 12: 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 Commentin
Slide 13: Corporate Overview
Corporate Overview NATIONAL REFERENCE LAB KOLKATA REFERENCE LAB BENGALURU REFERENCE LAB MUMBAI REFERENCE LAB 12
Slide 14: 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 15: 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 16: 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 17: 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 18: 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 19: 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 20: 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 21: 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 22: 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 23: 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 24: 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) 23
Slide 25: 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 26: 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 27: 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 28: 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 29: 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 30: 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 31: 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 32: Investment Highlights
Investment Highlights 31
Slide 33: 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 34: 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 35: 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 36: 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 37: 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 38: Shareholding as of 30th Sep, 2025
Shareholding as of 30th Sep, 2025 22.09% FPI’s & NRI’s 53.21% 8.74% Promoter and Others Promoter Group 15.96% Mutual Funds* 37 *Mutual Funds includes Alternate Investment Funds as well
Slide 39: 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 40: 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 41: Thank You
Thank You 40