Reduce Dr. Lal Pathlabs, target price Rs 1875: Yes Securities

Yes Securities has reduce call on Dr. Lal Pathlabs with a target price of Rs 1875. The current market price of Dr. Lal Pathlabs is Rs 1996.6 .

Dr. Lal Pathlabs , incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 16411.80 Crore) operating in Hospitals & Allied Services sector.

Dr. Lal Pathlabs key Products/Revenue Segments include Hospital Services and Other Operating Revenue for the year ending 31-Mar-2022.


Investment Rationale
We marginally tweak FY24 and FY25 estimates and retain reduce with revised target price of Rs 1,875

Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 505.20 Crore, up 1.06 % from last quarter Total Income of Rs 499.90 Crore and up 1.55 % from last year same quarter Total Income of Rs 497.50 Crore. Company has reported net profit after tax of Rs 56.90 Crore in latest quarter.

The company’s top management includes Brig.(Hony) Dr.Arvind Lal, Mrs.Somya Satsangi, Dr.Saurabh Srivastava, Mr.Harneet Singh Chandhoke, Mr.Sunil Varma, Mr.Anoop Mahendra Singh, Mr.Rahul Sharma, Dr.Vandana Lal, Dr.Om Prakash Manchanda, Dr.Archana Lal Erdmann. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2023, the company has a total of 8 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 55.03 per cent stake in the company as of 31-Mar-2023, while FIIs owned 24.89 per cent, DIIs 6.56 per cent.