Slides
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Q1 FY26 Results Presentation
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Disclaimer By attending the meeting / telephonic call where this presentation is made, or by reading the presentation materials, you agree to be bound by the following limitations: The information in this presentation has been prepared by Dr Lal PathLabs Limited (the “Company”) for use in presentations by the Company at analyst and investor meetings and does not constitute a recommendation regarding the securities of the Company. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information, or opinions contained herein. Neither the Company nor any of its advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. Neither the Company nor any of its advisors or representatives is under any obligation to update or keep current the information contained herein. The information communicated in this presentation contains certain statements that are or may be forward looking. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Any investment in securities issued by the Company will also involve certain risks. There may be additional material risks that are currently not considered to be material or of which the Company and its advisors or representatives are unaware. Against the background of these uncertainties, readers should not unduly rely on these forward-looking statements. The Company, its advisors and representatives assume no responsibility to update forward-looking statements or to adapt them to future events or developments. This presentation has been prepared for informational purposes only. This presentation does not constitute a prospectus under the (Indian) Companies Act, 2013 and will not be registered with any registrar of companies. Furthermore, this presentation is not and should not be construed as an offer or a solicitation of an offer to buy securities for sale in the India. This presentation and the information contained herein does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities of the Company, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered, sold or delivered within the United States or to U.S. persons absent from registration under or an applicable exemption from the registration requirements of the United States securities laws. This presentation and the information contained herein is being furnished to you solely for your information and may not be reproduced or redistributed to any other person, in whole or in part. In particular, neither the information contained in this presentation, nor any copy hereof may be, directly or indirectly, taken or transmitted into or distributed in the U.S., Canada, Australia, Japan or any other jurisdiction which prohibits the same except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of the United States or other national securities laws. No money, securities or other consideration is being solicited, and, if sent in response to this presentation or the information contained herein, will not be accepted. By reviewing this presentation, you are deemed to have represented and agreed that you and any person you represent are either (a) a qualified institutional buyer (within the meaning of Regulation 144A under the Securities Act) or (b) not a U.S. person (as defined in Regulation S under the Securities Act) and are outside of the United States and not acting for the account or benefit of a U.S. person. 2
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Table of Contents DISCLAIMER: This presentation may contain ‘forward-looking’ statements at places. The Company’s business operations remain subject to undetermined contingencies and risks. Dr. Lal PathLabs Limited would not be liable for any action undertaken based on such ‘forward-looking’ statements and does not commit to revising/ updating them publicly. Financials Key Performance Highlights Management Commentary Corporate Overview Shareholding Contact Us Q1 FY26 Performance Overview DLPL - At a Glance 3 6 7 11 12 36 38 5 4
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Patient Service Centers (PSC’s) 6,607 Pathology & Radiology tests; Comprehensive Test menu 5,012 Labs; Geographically spread-out network 298 Dr. Lal PathLabs – At a Glance As on March 31, 2025 *Largest on the basis of revenue # Issued by Care Ratings Ltd. India’s Leading & Trusted Diagnostics Company 75+ years of experience in the field of diagnostics 40 NABL accredited Labs; 2 CAP accredited Labs 131 Mn patients serviced in last 5 years Dividend for FY24-25 240% ROCE Excl. Cash & Investments 48% FY25 Revenue Growth 10.5% 4 Credit Rating# : AA Stable
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Q1 FY26 Performance Overview 5 Revenue EBITDA Samples Patients SwasthFitTM Contribution 11.3% PAT Q1 FY26 Rs. 670 crore Rs. 192 crore 7.6 MN 23.4 MN 27% Rs. 134 crore Q1 FY25 Rs. 602 crore Rs. 170 crore 7.2 MN 21.1 MN 25% Rs. 108 crore 13.1% 24.3% 5.3% 10.7% 2%
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Financials Financial results of the Company are best monitored on a year-to-date basis, as there is a certain level of seasonality in business and specific quarter performance may be influenced by certain occurrences in that quarter.6 Particulars (Rs. Cr.) Q1 FY26 Q1 FY25 Gr % FY25 Revenue 670 602 11.3% 2,461 Material consumed 129 119 481 Employee benefit Expenses 132 117 482 Fees to collection centres 92 84 342 Other Expenses 124 112 460 EBITDA 192 170 13.1% 696 Margins 28.7% 28.2% 28.3% Other Income 28 21 93 Depreciation Cost 35 35 142 Finance Cost 5 6 22 PBT 181 150 20.8% 625 Margins 27.0% 24.9% 25.4% PAT 134 108 24.3% 492 Margins 20.0% 17.9% 20.0% EPS (Basic) 15.9 12.8 24.4% 58.5
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Key performance highlights ⚫ Revenue reached Rs. 670 crore in Q1 FY26, marking a Y-o-Y increase of 11.3% o Mainly sample volume driven (+10.7% Y-o-Y); Led by calibrated network expansion in our core metro markets and deeper penetration in Tier 3 and Tier 4 cities/ towns. o Swasthfit contributed 27% in Q1 FY26 ⚫ EBITDA increased by 13.1% Y-o-Y in Q1 FY26 o Driven by sustained volume growth, network expansion and favorable mix combined with the efficient hub-and-spoke model and technology to achieve economies of scale and cost efficiencies 7
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277 277 280 298 FY22 FY23 FY24 FY25 Operating highlights No. of Clinical Laboratories No. of PSCs No. of PUPs 4,731 5,102 5,762 6,607 FY22 FY23 FY24 FY25 +21 +1,876 10,599 10,938 11,619 12,365 FY22 FY23 FY24 FY25 +1,766 No. of Patients (Mn) No. of Samples (Mn) 27.3 26.9 27.6 28.8 7.6 FY22 FY23 FY24 FY25 Q1 FY26 +1.5 66.0 72.3 78.2 85.6 23.4 FY22 FY23 FY24 FY25 Q1 FY26 +19.6 8
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Delhi & NCR 31% UP & UK 19%Rest of North 13% East India 15% West India 14% South India 6% Others 2% Robust financial performance • Growth driven primarily by increasing patient volumes and realization • Increase in operating margin due to economies of scale and cost efficiencies Revenue by Geography FY25 EBITDA Margin 24.3% 27.4% 28.3% PAT Margin 12.0% 16.3% 20.0% ROCE 24% 35% 48% 9 (INR Cr.) (INR Cr.) Revenue EBITDA, PAT and Return on Net Worth 2,017 2,227 2,461 FY'23 FY'24 FY'25 490 609 696 241 362 492 FY'23 FY'24 FY'25 EBITDA PAT
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Robust financial performance (Cont’d) • Self funded growth on account of strong cash flow generation • Attractive fixed asset turnover ratio given asset-light model • Current net cash position and internal accruals expected to fund next phase of growth Times (INR Cr.) 10 10.1x 11.2x 12.3x FY23 FY24 FY25 601 877 1,229 FY23 FY24 FY25 1. Fixed Asset Turnover = Total Revenue / Net PP&E as per Ind AS Fixed Asset Turnover1 Cash and Cash Equivalents
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Management Commentary (Hony.) Brig. Dr. Arvind Lal, Padma Shri Executive Chairman Mr. Shankha Banerjee, Chief Executive Officer Mr. Ved Prakash Goel, Group CFO & CEO – International Business 11 Commenting on the performance, Mr. Ved Prakash Goel, Group CFO & CEO – International Business said: “We have commenced FY26 on a strong note, with steady growth in volumes and healthy improvement in business mix, yielding a robust financial outcome. By prioritizing execution excellence and cost discipline, we have successfully sustained profitability while maintaining strategic flexibility for future investments. During the quarter, we further deepened our presence across underserved markets, bolstered by the new labs and PSCs rolled out last year. This tiered expansion strategy is helping us unlock new demand pockets while fortifying our leadership in core regions. The integration of Suburban Diagnostics with Dr Lal PathLabs is started contributing to our performance momentum in West India. Looking to the future, we remain focused on investing in technology-led efficiencies and scaling our presence across key geographies. With a robust balance sheet and a clearly defined growth roadmap, we are confident of delivering sustainable long-term value.” Commenting on the performance, Mr. Shankha Banerjee, Chief Executive Officer said: “Our first-quarter performance reinforces the strength of our business model and disciplined execution. We are expanding access to high-quality diagnostics through a calibrated network rollout, deeper reach in core metro markets and increased presence in underpenetrated regions. The diagnostics landscape continues to evolve, and we are positioning ourselves to lead not just in scale, but also in trust and reliability. We are steadily broadening our capabilities across advanced diagnostics, including genomics, auto-immunity and other high- complexity testing, to ensure that our offerings meet both emerging and unmet needs in healthcare. Our SwasthFit program continues to gain momentum, helping us deliver diagnostic solutions that support clinical decision-making and aid prevention. We continue to invest in Technology, which remains central to how we operate and grow. Our outlook is shaped by a relentless focus on volume-led growth through market expansion, focus on operational excellence via digital transformation and sustaining our brand leadership through quality and accessibility.” Commenting on the performance, (Hony) Brig. Dr. Arvind Lal, Executive Chairman said: “India’s healthcare landscape is transforming rapidly, driven by the twin engines of digital innovation and increasing healthcare infrastructure. However, significant gaps remain, whether it is the rising burden of chronic diseases and lifestyle disorders, or the challenge of timely diagnostics in underserved geographies. These structural realities underline the essential role of accessible, high-quality diagnostics in improving health outcomes nationwide. At Dr. Lal PathLabs, we are scaling responsibly to meet this need by deepening our advanced test portfolio as well as expanding our presence in Tier-3 & below markets. Technology continues to be a cornerstone of our strategy. From AI-integrated lab systems to user-centric digital platforms, our investments are focused on driving both operational efficiency and enhanced patient experience. With a scalable model and a clear sense of purpose, we are confident in our ability to serve the evolving needs of Indian healthcare with precision, trust, and care.”
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Corporate Overview
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As on March 31, 2025 Overview of Dr. Lal PathLabs Well-positioned in one of the fastest-growing segments of the Indian healthcare industry. Established brand Established consumer healthcare brand in diagnostic services Pan-India integrated coverage 298 clinical labs (including National Reference Lab at Delhi and Regional Reference labs at Kolkata, Bangalore & Mumbai), 6,607 Patient Service Centers (PSCs) and 12,365 Pick-up Points (PUPs) Varied Offerings Catalogue of 385 test panels, 3,172 pathology tests and 1,455 radiology and cardiology tests Unique and successful operating model Scalable model integrated through centralized IT platform allows for network expansion 13
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• Higher contribution from Rest of India business & focus on bundled test program “Swasthfit” • Successful commissioning of Regional Reference Lab at Kolkata in 2018 • Inorganic growth through acquisition of laboratories in Western & Southern India 1. NABL: National Accreditation Board for Calibration and Testing Laboratories. 2. CAP: College of American Pathologists. • 1949: Founded by Dr. Major S. K. Lal • 1995: Company incorporated as Dr. Lal PathLabs Private Ltd. • 2000: Three clinical labs receive NABL1 accreditation • 2001: Received ISO 9001:2008 certification • 2002: Received ’International Accreditation’ from CAP2 • 2005: onwards: Investment by WestBridge Capital • 2008: Acquisition of Paliwal Medicare Private Limited and Paliwal Diagnostics Private Limited • 2010: National Reference Lab set up in Delhi • Investment by TA Associates • Clinical laboratories expansion in North region • Growing the business in East region • Entry into the South and West regions • Multiple acquisitions to scale network • Successful IPO listing in Dec 2015 Our Evolution • First to set-up RT-PCR testing network in 2020 • Completed acquisition of Suburban Diagnostics in 2021 • Expanded South ecosystem through Bengaluru Reference Lab and network of Hub & Satellite labs • Established hub labs in North region • Spearheading investments in Digital and InfoSec • Successful commissioning of Regional Reference Lab at Mumbai in 2023 14 Strong position in North India, building network in other geographies Building capabilities for scale up Foundation Higher contribution from Rest of India, Commissioned state of the art Kolkata Reference Lab Pan India Player – Acquired Suburban, Building South Ecosystem 1949-2005 2005-2010 2010-2015 2015-2020 2020 onwards
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Sample Collection Report Delivery Query Handling Registration Most trusted healthcare brand in Diagnostic Services Online Offline Online Offline Lab/PSCs Home Call Centre Medico Marketing Doctor Customer Single brand pulls patients Walk-in customers account for highest share of revenues Diverse and large customer pool Pillar of a Strong Brand • Accreditations from CAP, NABL and ISO • Centrally administered surveillance programs • Coverage in metros, Tier 1, Tier 2 & Tier 3+ cities • Wide reach through PSCs and PUPs • 24x7 access including online access and home collection • Dedicated logistics team Nationwide Network Accreditations BOTs Fast Turnaround Time Digital capabilities 15
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Collection network LPL’s scalable business model provides strategic advantage for expansion and consolidation Single brand pulls patients Walk-in customers account for highest share of revenues Diverse, large customer pool offers monetization opportunities National Reference Lab & Regional Ref. Lab Clinical Labs (Testing/Collection) Patient Service Centers Pick-up Points Hospitals Doctors Labs Walk-ins Walk-ins Home Collection App/Call Centre Franchise Web aggregator Regional Reference Lab 16
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Digital Touchpoints across patient journey DIGITAL POINT OF SALE APPLICATIONS ⚫ Patient App/Website – Order Booking, Reports, Find Nearby Center, Test Info, Expected time of report, Live order status, App Notifications ⚫ Partner Portal – Registration, Business snapshots, Report Download, AI enabled Recommendation engine ⚫ Home Collection Portal – Customer Order Booking, Report status ⚫ Seamless Omni channel Experience SAMPLE COLLECTION ⚫ Phlebo App – Scan lab number, Documentation, Order Closures for home collection ⚫ Phlebo Kiosk – In lab application for Phlebo ⚫ Customer Feedback/NPS Scoring LOGISTICS ⚫ Live tracking of samples, inter & intra city, cash collection, dynamic routing, gamification, lab shipments ⚫ Audit ⚫ Reporting & Analysis ⚫ Instruments integrations ⚫ Quality & Compliance ⚫ Workflow Management ⚫ Historical Trends ⚫ Cumulative Reporting ⚫ Smart Report ⚫ RPA For Govt. Reporting ⚫ Live Report Status/ETR ⚫ ABDM – DLPL amongst the early adopters Customers 17 LAB PROCESSING REPORT ENGINE DATA LAKE – REAL TIME ANALYTICS MICROSERVICS BASED ARCHITECTURE SECURED APPLICATIONS SCALABLE INFRA – LEVERAGING POWER OF CLOUD
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ABDM - All Milestones acheived, DLPL among early adopters Ayushman Bharat Digital Mission aims to create a National Digital Health Ecosystem to bridge the existing gap amongst different stakeholders of Healthcare ecosystem through digital highways. The mission also enables interoperability and portability of health records and support innovation and research in the health sector. DLPL IS AMONG THE FEW EARLY ADOPTERS WHO HAVE RECEIVED ALL M1, M2 AND M3 CERTIFICATION. The benefits of the mission are manifold and will help the entire ecosystem, from Policy Makers to Researchers, and Health Care Professionals to Patients. The program is divided into 3 milestones from Technology enablement perspective. Milestone – 1 (ABHA ID: Ayushman Bharat Health Account) Milestone – 2 (Building HIP - Health Information Provider) Milestone – 3 (Building HIU – Health Information User) CITIZENS & PATIENTS Central Government Hospitals, Clinics Development Partners/NGOs Other Practitioners Doctors: Modern medicine Ayush Health Tech Companies TPAs, Insurers Labs, Pharmacies, Wellness Centers State Government Program Managers Regulators Associations Integrated: M1, M2, M3 The NDHM ECOSYSTEM 18
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Customer First Ethics & Integrity Quality Accountability Empathy & Compassion Vision, Mission & Values To be an undisputed market leader by providing accessible, affordable, timely and quality healthcare, diagnostics, applying insights and cutting-edge technology to create value for all stakeholders Be the most trusted healthcare partner, enabling healthier lives MISSIONVISION VALUES 19
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DLPL Strategy for future growth 20 ⚫ AI/ ML-powered data analytics for enhanced patient experience & personalized solutions. ⚫ Dedicated digital team driving volume growth ⚫ Leverage strong brand equity in core market of North India ⚫ Offer value to patients by up-selling opportunities ⚫ Established specialty verticals: Genevolve (genomics), L-CoRD (reproductive diagnostics), L-ACE (auto-immune disorders) ⚫ Swasthfit: Core for comprehensive patient solutions. ⚫ Follow cluster city approach ⚫ Enhance presence in Maharashtra especially Mumbai ⚫ Launched Reference labs in Bengaluru & Mumbai Maintain leadership position in the existing core markets Enhance high-end test portfolio of super-specialty & bundled test Drive increased volume in high- potential West & South India; Hub labs in North Significantly leverage the strong digital infrastructure
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Leveraging digital infrastructure to make life easier for patients • New age user intuitive website. • Responsive , mobile friendly web designs. • SEO friendly for improved customer reach • Strategic placement of Buttons and Web forms to generate more leads and better order conversion rates from website • Machine Learning based FE Route Generation • Machine Learning based Tube Scanning Bag creation process. • Secure QR Code based handshake for every process. • Geo-fencing and Precious sample recognition Intra and Intercity sample movement. • LPL’s own AI based Recommendation Engine • Recommends Patient relevant tests as per his current health condition, past report trends, demographic details, etc. Reco.ai Logistics App Wallet One Registration Chatbot 2.0New Website Launch • Senior Citizen Wallet: Wallet points on every booking for Senior Citizen Patients. • Phlebo Wallet: Wallet points on enhanced superior services to customers. • One unified platform for all POS registrations • Error Proofing • New version of Chatbot. • Book an appointment functionality. • ETR and Report visibility of customer orders. Recommendation of Preventive Health Checkups 21
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Neuro Genomics Reproductive Genomics Onco Genomics Rare Disease Genevolve: Genetic Testing Division Successful completion of “5 years of Launch” On-boarded latest NGS instrument “Illumina X Plus” Introduced a range of “cfDNA Liquid Biopsy Tests” Launched First in India, “Screening Early-stage Liver Cancer” Dedicated “Business Development Sales Team” State of art technologies “In-House at 4 Reference Labs” 22
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First in South Asia - Amyloid Typing 23 Amyloid Protein Typing Facility Under the Guidance of the National Amyloidosis Centre, London (UK)
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Highest Quality Standards in the Industry 24 Best in the Industry CAP Proficiency Testing Score at 98.0% for National Reference Lab Consistently high EQAS Performance Testing Score at 98.3% for Satellite Labs CAP accreditation 2 labs, NABL accreditation 40 Labs Real time quality control monitoring Risk based quality assurance framework 100+ Quality improvement meetings on a daily basis with the network partners Digitally enabled solutions implemented for quality audits and trainings Patent has been granted to Dr. Lal PathLabs for an invention related to REAL TIME QUALITY CONTROL MONITORING for the period of 20 years
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Quality Control Laboratory excellence D L Shah Gold Award for LPL Project ‘Improving Laboratory Performance by developing an in-house automated process to monitor Quality control’ PROJECT NEEV- self learning initiative for phlebotomists Quality education programs-- HUNAR for technicians and EDGE for Doctors Test Recommend ation engine NABL 133 implementation Risk Based Internal Audits LPL proficiency testing program launch Analytical Quality Scoring & monitoring of Labs ESG Data Gathering process implementation Capability building 25
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• Future ready Cloud architecture with easily scalable and upgradable • Cloud ERP Microsoft Dynamics 365 for Finance & Operations • Data for “Control Tower” is processed through “Data Lake” hosted on Cloud • “Data Lake” helps in consolidating the data from multiple source systems and provides easy access information securely Control Tower Teams Control Tower Implementation “Control Tower” implementation provides a complete visibility of Patient samples across the sample processing lifecycle. The insights will help the business users to reduce delay and improve processing leading to better customer service. Digital Failure Indicator Areas: Delay in report upload and payment • Centralized Monitoring Team for “Control Tower” Operation • Real-time information for the delays happening across sample processing lifecycle with actionable insights • Quick decision making • Drill-down level information available till last leaf i.e. Lab Number / Field Executive • Information accessible based on Roles & Rights • Overall design is based on “Mobile First” Approach 26 Lab Operations Failure Indicator Areas - samples scan-in & scan-out , Shipment creation, Report Validation Logistics Failure Indicator Areas - Unregistered Samples, Bagging & Shipping of samples Front Desk Failure Indicator Areas - Home Collection, Credit management & Sample/Registration Deficiency Key Highlights D365 Cloud Data Lake
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Enhanced Customer Experience in Home Collection D2C – Automated lead management Digital ID card & ratings of Phlebo to the patient Variable model which grows with business volume Real time 30 minutes slot visibility & booking for the patient Real time phlebo visibility to the patient Auto Routing engine to dynamically allocate the booking to nearest available phlebotomist 27
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Key ESG Initiatives Use of Electric bikes for sample collection Saved 16,43,858 Kg of CO2 emissions by using Solar power Use of biodegradable bags for sample collection Installed R32 refrigerant operated Inverter AC for Conserving ozone layer 49,384 hours of training for employee development Descaling of DG Sets radiator to improve the smoke quality 28 Commissioned 3.18 MW Solar System for generating the green energy All labs are equipped with Effluent Treatment Plant for wastewater treatment
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Cyber Security Capability • State-of-the-art data loss prevention technology to monitor and prevent the disclosure of information • Data classification platform for information labeling and handling according to severity of data • Rights management system to enable persistent data-centric protection Data Loss Prevention • Deployed next generation cyber technologies such as CASB (Cloud Access Security Broker), EDR (Endpoint Detection & Response), ATP (Advance Threat Protection), File Sandboxing, Email Zero-Day Protection, Risk-Based Conditional access to prevent the new-age cyberattacks Extended Detection and Response • Vulnerability Assessment & Penetration Testing of IT apps and systems including cloud infra • Periodic secure code, design and configuration reviews of mission-critical systems Software Security • Threat intel platform to monitor the surface, deep and dark web for credential disclosures, data leaks, frauds and scams • Proactive detection and mitigation of vulnerabilities of publicly exposed systems Threat Intelligence • Periodic Information security trainings to keep the employee based aware of latest cyber threats. 29 • Security operations center to monitor cyber threats 24x7 • Cyber Crisis Management Plan - Readiness, Response & Recovery to achieve the cyber resiliency Training on Information Security Security Operations Center
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Experienced Management team Ved Prakash Goel Group CFO & CEO – International Business Munender Soperna Group Chief Information & Digital Officer Jai Prakash Meena Chief Operating Officer Manoj Garg Group Chief Human Resources Officer 30 Dr. Vandana Lal Whole-time Director Shankha Banerjee Chief Executive Officer (Hony.) Brig. Dr. Arvind Lal Padma Shri Executive Chairman
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Investment Highlights
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Investment Highlights 32 Consolidating presence in West through Suburban acquisition Well poised to garner incremental market share centered on intrinsic strengths and expertise in healthcare Demonstrated high scalability, integrated through centralized IT platform for network expansion Fundamental levers in place to drive expansion based on humongous market opportunity Largest consumer healthcare brand in diagnostic services, with unmatched reputation Best-in-class and consistent financial track record with healthy return ratios Deepening presence in the underpenetrated Tier 3+ markets
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11,702.4 5,619.4 5,930.3 5,901.1 4,768.7 4,388.1 4,926.3 3,537.0 2,642.4 700.7 583.4 56.6 US Canada Germany Australia France Japan United Kingdom Singapore Korea Brazil China India India’s expected population in 20301 Expected India’s healthcare industry size in FY 282 Out of pocket expenses to overall healthcare spends3 ~1.51 bn Rs. 16.5-17.5 trillion ~50.6% 2.5% Government Expenditure on healthcare (as % of GDP) in FY255 India, highly underpenetra ted market Close to Rs. 89,155 crore was allocated to the Ministry of Health and Family Welfare, under Union Budget 2023-246 $10.76 bn The amount that Indian Government is planning to introduce as a credit incentive program (Rs. 500 bn) to boost the country’s healthcare infrastructure6 $6.8 bn Globally: Total Healthcare Expenditure is 10.9% of GDP Source: (1) UN Department of Economic and Social Affairs, World Population Prospects 22022, CRISIL MI&A, (2) Industry, CRISIL MI&A (3) Global Health Expenditure Database accessed in March 2023, CRISIL MI&A (4) Global Health Expenditure Database – World Health Organisation in March 2023, CRISIL MI&A (5) Article by Outlook India, (6) IBEF 33 Indian Healthcare Services is a large and growing opportunity Per capita current expenditure on health in $ terms (2020)4
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Growth DriversDiagnostic Services Industry Size Drivers of India diagnostic services market Screening, early detection, and monitoring reduce downstream costs FY23 FY28E ~Rs. 774 Bn ~Rs. 1,200 Bn Expected 8-10% CAGR 34 Source: Industry Data, Centrum Institutional Research Report, Axis Capital Report, ICICI Securities Report Increase in evidence-based treatments Demand for lifestyle diseases related services to grow Focus on preventive diseases and wellness Rapid Urbanization
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36-40% 42-46% 16-20% Diagnostic Chains Standalone Centres Hospital Based Labs Regional Chains 55% Multi-Regional 45% 24% 76% Rural Urban Largely fragmented and unorganized Diagnostic penetration in rural market is lower, while the opportunity size remains big 35 Diagnostic Services industry continues to remain highly fragmented Source: Industry Data, Nuvama Institutional Equities Research Report Region wise RevenueHighly Fragmented Industry
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Shareholding as of 30th June, 2025 *Mutual Funds includes Alternate Investment Funds as well Promoter and Promoter Group 53.8% FPI’s & NRI’s 21.9% Others 9.2% Mutual Funds* 15.1% 36
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Key Awards & Recognition Business Standard Star SME of the year 2022 GAPIO Excellence in Diagnostics Award 2022 Best Brands Healthcare 2022 Gold Award QCI – D. L. Shah Quality Awards - 2022 Top 100 Global Most Loved Workplace 2023 ICICI Lombard & CNBC TV18 India Risk Management Awards 2022 – Healthcare Financial Express CFO of the year 2022 CFO100 Roll of Honour 2022 CSR Award 2022 Diagnostic Chain of the Year – West Awarded by the prestigious Healthcare Awards, from The Economic Times in 2022 EY Entrepreneur of The Year 2019 – Life Sciences & Healthcare Dr. Om Manchanda honoured and awarded as ‘Healthcare Personality of the Year, 2020’ by FICCI VC Circle Healthcare Summit 2013 – Best Diagnostic Company Frost and Sullivan 4th Annual India Healthcare Excellence Award, 'Diagnostic Service Provider Company of the Year 2012' Computerworld Honors Laureate Program, 2012 Data Quest Technology Award 2015 – Excellence in Implementation of Technology Padma Shri – (Hony) Brig. Dr. Arvind Lal (2009) Franchise India Excellence Award in Hall of Fame Category (2011, 2012) Franchisor of the Year (Healthcare) - Franchise Plus Awards 2010 37
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Contact Us About Dr. Lal PathLabs Limited (DLPL) Dr. Lal PathLabs Limited is one of India’s leading consumer healthcare brand in diagnostic services. It has an integrated nationwide network, where patients and healthcare providers are offered a broad range of diagnostic and related healthcare tests and services for use in core testing, patient diagnosis and the prevention, monitoring and treatment of disease and other health conditions. The services of DLPL are aimed at individual patients, hospitals and other healthcare providers and corporates. The catalogue of services includes 385 test panels, 3,172 pathology tests and 1,455 radiology and cardiology tests as on March 31, 2025. As on March 31, 2025, DLPL’s has 298 clinical labs (including National Reference Lab at Delhi & Regional Reference Lab at Kolkata, Bangalore & Mumbai), 6,607 Patient Service Centers (PSCs) and 12,365 Pick-up Points (PUPs). In FY25 & FY24, DLPL collected and processed approximately 86 million samples and 78 million samples from 28.8 million and 27.6 million patients, respectively. Additional information on Dr. Lal PathLabs Limited: Corporate Identification No: L74899DL1995PLC065388 Website: https://www.lalpathlabs.com For further information please contact: Ved Prakash Goel Dr. Lal PathLabs Limited Tel: +91 124 301 6500 Fax: +91 124 423 4468 E-mail: ved.goel@lalpathlabs.com Siddharth Rangnekar / Nishid Solanki CDR India Tel: +91 22 66451209 / 1221 Fax: +91 22 66451213 Email: siddharth@cdr-india.com / nishid@cdr-india.com 38