Dr. Lal PathLabs Ltd's Q4FY18 consolidated net profit rises 27.22% yoy to Rs40.20cr : In-line with Estimates

India Infoline Research Team | May 14, 2018 20:32 IST

The company’s consolidated revenue stood at Rs266.80cr, up 21.33% yoy and 1.56% qoq.

Dr. Lal PathLabs Ltd Q4FY18

Consolidated Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 266.80 21.3
EBITDA 64 28.3
EBITDA Margin (%) 24 130
Net Profit (adjusted) 40.20 27.2
***EBITDA margin change is bps
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Buy

Reco. Price

845.2

Last updated on

23-Apr-2018


Dr. Lal PathLab’s (DLPL) revenue in Q4FY18 increased by 21.3% to Rs266.8cr vs. Rs219.9cr in Q4FY17. EBITDA in Q4FY18 increased by 28.3% to Rs64cr vs. Rs49.9cr in Q4FY17. EBITDA margins in Q4FY18 were at 24% vs. 21.5% in Q3FY18 and 22.7% in Q4FY17. PAT grew 27.2% yoy to Rs40.2cr in Q4FY18 vs. Rs31.6cr in Q4FY17.
  • Q4FY18 saw 20.8% yoy patient volume growth and 15% in the full year.
  • The number of patients tested in the quarter stood at 3.85 million.
  • Company now has 193 clinical laboratories and 2,153 patient service centers.
  • Kolkata Reference Lab (KRL) has now been operational. The growth will come from test bundling, digital technology and specialized tests.
  • Company has total Rs550.6cr in form of cash and liquid investments on the balance sheet by end of FY18.
  • Company said that the outlook for the coming year looks encouraging as it continues to focus on building networks, test bundling and specialized tests.
Concall Highlights
  • During the quarter, revenue per patient was flat due to cost rationalization measures.
  • Going ahead, revenue per test would decline due to cost rationalization measures.
  • Large part of capex for Kolkata Reference Lab has been completed and going ahead only maintenance capex would be incurred. KRL should drive the company's revenue going ahead.
  • The company would continue to focus on volume growth and improve sales mix. Company expects 15-16% volume growth and no price growth in FY19E.
  • The cash and investment of Rs550cr by end of FY18 will be utilized for inorganic growth opportunities.
  • Company has said that the sector continues to see shift from unorganized to organized segment.
  • Company has said that the competitive sensitivity has now stabilized.

Technical View:
Dr Lal Pathlabs Ltd is currently trading at Rs. 807.85, down by 8.5 points or 1.04% from its previous closing of Rs. 816.35 on the BSE.
The scrip opened at Rs. 826.35 and has touched a high and low of Rs. 826.35 and Rs. 800 respectively. So far 46,894 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 100 DMA.


***Note: This is a NSE Chart

 

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