Dr. Lal Path Labs logo

Dr. Lal Path Labs share price

NSE: LALPATHLABBSE: 539524Healthcare ServicesSmall Cap

Dr. Lal Path Labs Ltd. · Face value ₹10 · Listed Dec 2015
Last close ₹1,922.30up ₹20.50 (1.08%)BSE ₹1,920.75

Share price at the NSE close on 28 Oct 2026. Previous close ₹1,901.80.

28 Oct: open ₹1,885.20, high ₹1,936.50, low ₹1,871.00

52-week range of traded prices to 28 Oct 2026
₹1,272.60Low, 23 Mar 2026₹2,038.60High, 16 Sep 2026
Market cap
₹32,266 Cr309th largest listed
P/E
59.54
P/B
12.86
Dividend yield
0.83%
ROE
23.2%
ROCE
26.2%
Debt to equity
0.00
Volume, NSE
1,24,17959.9% delivered

Dr. Lal Path Labs share price chart

Daily closes since Dec 2015, adjusted for splits and bonuses

+24.4%over a year · Nifty MidSmall Healthcare +15.4% · Nifty 500 −8.8%

ResultsDividendSplit, bonus, rights or demerger20-session average 2,77,570 shares a day, 60.4% delivered

About Dr. Lal Path Labs

Dr. Lal PathLabs Limited runs a nationwide network of pathology and radiology laboratories in India, offering diagnostic and related healthcare tests used to diagnose, prevent, monitor and treat disease.12 It serves individual patients, hospitals, other healthcare providers and corporates through its laboratories, collection centres and home collection.134

Its specialty brands are Genevolve for genomics, L-CoRD for reproductive diagnostics and L-ACE for autoimmune disorders, alongside SwasthFit bundled preventive health checks and Sovaaka, an AI-powered precision health screening platform.56 Its national reference laboratory is in Delhi, with regional reference laboratories in Kolkata, Bengaluru and Mumbai.5 Outside India it has a presence in Nepal and Bangladesh.7

S. K. Lal founded the business in New Delhi in 1949; the company was incorporated in 1995 and listed on the stock exchanges through an initial public offering in December 2015.89 It acquired Suburban Diagnostics in 2021; Suburban's business passed to the company on 18 Mar 2025 during Suburban's voluntary liquidation, and the National Company Law Tribunal ordered the former subsidiary dissolved on 27 Feb 2026.101112 The Suburban business, run under the Suburban brand, is the company's main business in West India.13

Its promoter and promoter group held 53.19% of the shares at the end of June 2026.14 Arvind Lal, its Executive Chairman, is a promoter director.1516

Dr. Lal Path Labs key points

Results

  • In the quarter to Jun 2026, revenue rose 19.1% to ₹798 crore from ₹670 crore, its highest quarterly growth rate in 4 years. EBITDA (earnings before interest, tax, depreciation and amortisation) rose 28.7% to ₹247 crore from ₹192 crore, a 31.0% EBITDA margin.1718
  • Profit after tax in the quarter to Jun 2026 rose 27.2% to ₹170 crore from ₹134 crore, a profit after tax margin (profit as a share of revenue) of 21.4%. Net cash and equivalents were ₹1,693 crore at 30 Jun 2026.19
  • In the year to Mar 2026, consolidated revenue rose 12.2% to ₹27,629 million from ₹24,614 million, and reported profit after tax rose 3.6% to ₹5,098 million from ₹4,922 million; the earlier year included a one-time tax benefit from Suburban's liquidation.2021
  • Reported EBITDA for the year to Mar 2026 was ₹7,524 million after a one-time charge of ₹301 million for the new Labour Code; excluding that charge, EBITDA was ₹7,825 million, up 12.5%.22

Revenue mix

  • Sales directly to patients (B2C) make up about 75% of revenue and sales through hospitals, laboratories and other businesses (B2B) about 25%, as in the quarter to Jun 2026.23
  • On its earnings call of 24 Jul 2026, the company said SwasthFit bundled health checks are 27% of its revenue, and that SwasthFit grew about 20% in the quarter to Jun 2026.2425
  • Tier 3+ markets (smaller cities, towns and rural areas) contributed 39% of revenue in the year to Mar 2026.26
  • Revenue per patient rose 10% to ₹968 from ₹880 in the quarter to Jun 2026, on test and geography mix and higher prices under the CGHS and ECHS government health schemes, a benefit the company puts at 2% to 3% at company level.272829

Where revenue comes from

  • Share of consolidated revenue by region30
    Itemyear to Mar 2026year to Mar 2025
    Delhi NCR31%31%
    Uttar Pradesh and Uttarakhand19%19%
    East India15%14%
    West India14%15%
    Rest of North India13%13%
    South India6%6%
    Others2%2%

Laboratory and collection network

  • At 31 Mar 2026 the company had 312 clinical laboratories, 7,727 patient service centres (centres where patients give samples) and 13,935 pick-up points where samples are collected.31
  • It tested 94.5 million samples from 30.3 million patients in the year to Mar 2026, against 85.6 million samples from 28.8 million patients a year earlier.32
  • In the quarter to Jun 2026, patient volume grew 8.2% to 8.2 million and sample volume grew 10.7% to 25.9 million.33

Research and development

  • The company launched 136 new tests in the year to Mar 2026, 13 of them first in India; on its earnings call of 24 Jul 2026 it said it launched 116 in the quarter to Jun 2026, 4 of them first in India.3435

What the company expects

  • On its earnings call of 24 Jul 2026, the company said it plans to add 12 to 15 laboratories in the year to Mar 2027, and possibly 3 to 4 radiology centres.36
  • On its earnings call of 24 Jul 2026, the company said it had guided for patient volume growth of 6% to 7% in the year to Mar 2027, to be reviewed after the first half.37
  • On its earnings call of 24 Jul 2026, the company said its capital spending is roughly ₹140 crore to ₹150 crore and that acquisitions would be the main use of its cash.38
  • On its earnings call of 24 Jul 2026, the company said it sees international growth over a 3 to 5 year horizon, focused on Africa, the Middle East, CIS countries (former Soviet states) and Southeast Asia, with no target yet set.3940

Recent events

  • In its exchange filing of 26 Sep 2026, the company said its Dubai subsidiary, formed on 12 Jun 2026, had completed the purchase of 80% of Sunshine Healthcare Limited in Ghana, which became a step-down subsidiary (a subsidiary of a subsidiary).4142
  • On 24 Sep 2026 the board approved buying 70% of SN Genelab Private Limited, a genomics diagnostics business with turnover of ₹57.96 crore in the year to Mar 2026, for up to ₹168 crore plus an earn-out (a performance-linked extra payment) capped at ₹31.5 crore.434445
  • On 1 May 2026 the company bought 100% of Shahbazkers Diagnostic Centre Private Limited, a diagnostics and healthcare services provider, for ₹200 million in cash.46
  • On 22 Dec 2025 the company allotted 8,37,75,510 bonus shares in a 1:1 bonus issue (1 free share for every share held).47

Litigation and regulatory matters

  • In its exchange filing of 17 Jul 2026, the company said the income tax appeals authority had allowed its appeal against an assessment order dated 31 Mar 2024, and allowed a deduction of ₹32,66,18,927 for employee stock option expenses.48

Last updated

All 48 sources, each with its page
  1. 1. Investor presentation, 24 Jul 2026, page 29
  2. 2. Annual report, 1 Jul 2026, page 337
  3. 3. Investor presentation, 24 Jul 2026, page 22
  4. 4. Annual report, 1 Jul 2026, page 13
  5. 5. Annual report, 1 Jul 2026, page 128
  6. 6. Annual report, 1 Jul 2026, page 26
  7. 7. Earnings call, 24 Jul 2026, page 4
  8. 8. Investor presentation, 24 Jul 2026, page 21
  9. 9. Annual report, 1 Jul 2026, page 9
  10. 10. Annual report, 1 Jul 2026, page 10
  11. 11. Annual report, 1 Jul 2026, page 102
  12. 12. Annual report, 1 Jul 2026, page 120
  13. 13. Earnings call, 24 Jul 2026, page 11
  14. 14. Investor presentation, 24 Jul 2026, page 15
  15. 15. Annual report, 1 Jul 2026, page 12
  16. 16. Annual report, 1 Jul 2026, page 190
  17. 17. Earnings call, 24 Jul 2026, page 5
  18. 18. Earnings call, 24 Jul 2026, page 4
  19. 19. Earnings call, 24 Jul 2026, page 6
  20. 20. Annual report, 1 Jul 2026, page 130
  21. 21. Annual report, 1 Jul 2026, page 16
  22. 22. Annual report, 1 Jul 2026, page 16
  23. 23. Earnings call, 24 Jul 2026, page 17
  24. 24. Earnings call, 24 Jul 2026, page 18
  25. 25. Earnings call, 24 Jul 2026, page 8
  26. 26. Annual report, 1 Jul 2026, page 24
  27. 27. Earnings call, 24 Jul 2026, page 5
  28. 28. Earnings call, 24 Jul 2026, page 9
  29. 29. Earnings call, 24 Jul 2026, page 7
  30. 30. Annual report, 1 Jul 2026, page 130
  31. 31. Investor presentation, 24 Jul 2026, page 29
  32. 32. Investor presentation, 24 Jul 2026, page 29
  33. 33. Earnings call, 24 Jul 2026, page 4
  34. 34. Annual report, 1 Jul 2026, page 132
  35. 35. Earnings call, 24 Jul 2026, page 4
  36. 36. Earnings call, 24 Jul 2026, page 10
  37. 37. Earnings call, 24 Jul 2026, page 7
  38. 38. Earnings call, 24 Jul 2026, page 21
  39. 39. Earnings call, 24 Jul 2026, page 20
  40. 40. Earnings call, 24 Jul 2026, page 10
  41. 41. Exchange filing, 26 Sep 2026, page 1
  42. 42. Exchange filing, 24 Jul 2026, page 6
  43. 43. Exchange filing, 24 Sep 2026, page 1
  44. 44. Exchange filing, 24 Sep 2026, page 2
  45. 45. Exchange filing, 24 Sep 2026, page 2
  46. 46. Exchange filing, 24 Jul 2026, page 6
  47. 47. Annual report, 1 Jul 2026, page 102
  48. 48. Exchange filing, 17 Jul 2026, page 2

Results

Consolidated; ₹ crore.Dr. Lal Path Labs quarterly results

Revenue growth, 12 months
+14.3%
Net profit growth, 12 months
+5.6%

Quarter to Jun 2026, against the quarter before

Revenue
₹798 Crup 13.52%
Net profit
₹171 Crup 28.97%
Net margin
21.4%

Revenue by quarter

₹660 CrSep 24₹597 CrDec 24₹603 CrMar 25₹670 CrJun 25₹731 CrSep 25₹660 CrDec 25₹703 CrMar 26₹798 CrJun 26
Peak revenue ₹798 Cr, quarter to Jun 2026; lowest ₹597 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹131 CrSep 24₹98 CrDec 24₹156 CrMar 25₹134 CrJun 25₹152 CrSep 25₹91 CrDec 25₹132 CrMar 26₹171 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue660597603670731660703798
Net profit1319815613415291132171
Net margin19.8%16.4%25.8%20.0%20.8%13.9%18.8%21.4%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment which carries all its revenue.

Valuation

Today, against the company's own history.Dr. Lal Path Labs PE ratio and valuation

Price to earnings

At or below today's level on 58% of 2,467 trading days since Nov 2016.

LowestHighest
Its median56.46Industry median18.89
Price to book

At or below today's level on 63% of 1,976 trading days since Nov 2018.

LowestHighest
Its median12.25Industry median1.58
Dividend yield

At or below today's level on 83% of 2,474 trading days over the last 10 years.

LowestHighest
Its median0.55%Industry median0.36%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+6.9%+3.4%+2.4%1.1%
3 years+13.8%+28.0%−11.9%1.0%
5 years+0.2%+11.4%−10.8%0.8%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Dr. Lal Path Labs shareholding pattern

Shareholding by group

  • Promoters52.93%
  • Foreign institutions18.73%
  • Indian institutions21.58%
  • Individuals and others6.35%
  • Employee trusts0.41%
Holder
Arvind LalPromoter29.91%
Vandana LalPromoter19.16%
SMALLCAP WORLD FUND, INCForeign portfolio investors, category I2.60%
Anjaneya LalPromoter2.01%
Archana Lal ErdmannPromoter1.84%
Life Insurance Corporation of IndiaInsurance companies1.47%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.26 pts, foreign institutions +1.37 pts, Indian institutions −0.01 pts, mutual funds −0.11 pts.

Mutual fund holdings

158 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 59 of the 80 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 158 funds holding Dr. Lal Path Labs

Bought for the first time
3
Bought again
1
Added
37
Cut
43
Held unchanged
73
Sold out
3
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.Dr. Lal Path Labs insider trading

Bought on the market Sold on the market
  • Promoters and promoter group0 purchases, 1 saleNo purchase₹61 CrNet−₹61 Cr
  • Directors and key managers0 purchases, 5 salesNo purchase₹4.91 CrNet−₹4.91 Cr4 off-market moves
  • Employees0 purchases, 1 saleNo purchase₹0.25 CrNet−₹0.25 Cr1 pledge created · 7 off-market moves
  • Others0 purchases, 62 salesNo purchase₹15 CrNet−₹15 Cr5 pledge filings of unclear kind · 76 off-market moves
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Dr. Lal Path Labs competitors and peers

Healthcare Service Provider, 37 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Dr. Lal Path Labs in market cap.Healthcare companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Vijaya Diagnostic Centre logoVijaya Diagnostic CentreVIJAYA14,86179.2615.53+20.2%+24.9%21.4%27.8%0.14%
Metropolis Healthcare logoMetropolis HealthcareMETROPOLIS11,43556.717.56+21.8%+32.6%14.2%18.6%0.36%
Thyrocare Technologies logoThyrocare TechnologiesTHYROCARE7,87144.6413.44+21.1%+65.7%31.1%37.9%1.42%
Nephrocare Health Services logoNephrocare Health ServicesNEPHROPLUS6,319–5.66––––0.00%
Suraksha Diagnostic logoSuraksha DiagnosticSURAKSHA1,62345.356.63+23.3%+8.1%15.7%24.0%0.16%
Krsnaa Diagnostics logoKrsnaa DiagnosticsKRSNAA1,61016.521.64+10.2%+21.5%10.5%8.0%0.40%
3B Blackbio Dx logo3B Blackbio Dx3BBLACKBIO1,17021.073.61+54.3%+13.2%18.7%14.1%0.37%
One Global Service Provider logoOne Global Service ProviderONEGLOBAL91812.416.50+161.6%+178.3%69.4%69.2%0.21%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Dr. Lal Path Labs dividend history

Dividend per share, ₹, restated for later splits and bonuses

2.3Mar 183Mar 196Mar 2010Mar 216Mar 223Mar 2312Mar 2412Mar 2514Mar 265Mar 27so far
Highest ₹14.00 a share, year to Mar 2026.
Ex-dateTypePer share
30 Jul 2026Interim₹5.00
25 Jun 2026Final₹4.00
5 Feb 2026Interim₹3.50
7 Nov 2025Interim₹7.00
6 Aug 2025Interim₹6.00
6 Jun 2025Final₹6.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Dr. Lal Path Labs announcements

Dr. Lal Path Labs share price by year

Each calendar year to 2025.Dr. Lal Path Labs share price history

YearClose at year endChangeHighest closeLowest close
20251,482.60−1.2%1,736.751,155.23
20241,500.20+16.4%1,802.781,005.53
20231,288.85+14.0%1,371.53889.93
20221,130.23−40.9%1,930.65917.98
20211,911.13+65.8%2,104.301,117.45
20201,152.63+54.3%1,161.33625.98
2019746.98+64.1%838.05456.53
2018455.15+3.3%539.48403.55
2017440.65−17.7%559.63368.68
2016535.48+33.1%623.98360.18
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 20261,848.001,913.901,821.301,901.801,881.312,73,78566.1%
26 Oct 20261,844.001,867.001,797.801,855.601,833.514,67,07872.6%
23 Oct 20261,839.001,854.601,801.201,838.201,832.331,19,25056.6%
22 Oct 20261,835.001,857.601,824.101,843.701,838.103,49,76870.2%
21 Oct 20261,843.701,873.101,819.901,836.101,850.862,91,32275.7%
19 Oct 20261,856.001,876.101,828.401,843.701,843.141,90,46963.3%
16 Oct 20261,880.001,907.901,851.901,859.901,871.662,45,04766.1%
15 Oct 20261,934.001,936.801,856.801,885.101,884.832,18,44859.6%
14 Oct 20261,910.601,942.001,887.101,938.001,913.472,23,89151.7%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus share history

Ex-dateEventPrice factorWhat happened
19 Dec 2025Bonus0.5000Holders received 1 bonus share for every 1 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details