Dr Lal Pathlabs: Quarter3 FY22 Highlights

(A) Last 4 Quarters Performance – YOY

Key Margins – Quarterly

(B) Quarter on Quarter Performance

(C) 9 Months Trailing Performance

(D) Key Highlights during FY22 till Dec 2021

(i) Outlook for expansion

The company aims to focus on the growth of Non-Covid business as that is permanent and Covid business is subsiding. North & East India the core strategy is organic growth. But in order to grow in South & West, the management looks forward for inorganic growth. In respect of revenue for quarter 3 of FY22, growth in non-COVID business revenue was at 28.1% year-on-year, Following easing of mobility curbs across the country during Q3, said the company. Revenue from covid and allied portfolio, on the other hand, fell a sharp 46.8%.

(ii) Acquisition of Suburban Diagnostics

The company completed the acquisition of Suburban Diagnostics (India) Private Limited.
Accordingly, results for Q3 FY22 include Suburban Diagnostics financials w.e.f 12th November, 2021. The margin contraction is also because of this acquisition and related costs. The management also states that it can look for inorganic opportunities of growth in South India as well.

(iii) No price hike taken

The management believes in volume growth strategy & no price hikes taken by the company in last 4-5 years. The strong growth in Non Covid revenue is led by patient volumes. The Non Covid business sees further acceleration in growth momentum as compared to previous quarters. This is in line with the stated direction to bring back growth rates to pre-covid levels.

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References:  Annual Reports, News Publications, Investor Presentations, Corporate Announcements, Management Discussions, Analyst Meets & Management Interviews, Industry’s Publications.

Disclaimer: The report only represents personal opinions and views of the author. No part of the report should be considered as recommendation for buying/selling any stock. Thus, the report & references mentioned are only for the information of the readers about the industry stated.

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