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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹703 Cr
verified against source
Revenue YoY
16.6%
reported change
EBITDA
₹187 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Dr. Lal PathLabs delivered a strong Q4 FY26 with revenue of ₹703 crore (+16.6% YoY), driven by 12.9% sample volume growth and improving revenue per patient (₹956, +7.8% YoY). EBITDA margin at 26.6% contracted ~150bps YoY due to investments in infrastructure, R&D, and new lab openings (14 labs, 1,100+ collection centers added in FY26). PAT was impacted by a one-time labor code cost (₹30 cr) and a high base from last year's liquidation gain. Management guided for early-to-mid teens revenue growth in FY27, supported by sustained double-digit growth in Delhi NCR, recovery in Suburban business, and maturation of expanded network. EBITDA margin is expected to remain in the 27-28% range as investments continue. Key risk: potential supply chain disruption from Middle East conflict could impact reagent costs if prolonged.
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Guidance to track
- Management expects revenue growth of 13-15% in FY27, driven by network maturation, sustained Delhi NCR growth, and Suburban recovery.
- EBITDA margin expected to remain in 27-28% range as investments in labs, R&D, and infrastructure continue.
- Capital expenditure planned for 12-15 new labs, precision lab setup, and one or two radiology centers.
Risks flagged
- Prolonged conflict could disrupt supply chain for imported reagents and consumables, impacting costs and availability.
- Continued investment in labs, R&D, and new initiatives like SOAKA may keep margins in 27-28% range, limiting near-term expansion.
- Management indicated price hike is 'a few quarters away' and dependent on market conditions, delaying potential margin tailwind.
Key quotes
- We are entering FY27 with strong operational momentum, a strengthened digital infrastructure and a clear pathway towards sustaining early to mid-teens revenue growth.
- The price hike... is a few quarters away, it's not something which is immediately on the cards.
- We are expecting this margin in the range of 27 to 28% and the reason because we are investing in the business.
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