Models
DR. LAL PATH LABS LTD.LALPATHLABHealthcare Services
₹608per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹608implied FY26 P/E 14.6× · EV/EBITDA 13.2×
Against CMP ₹1,897.00−68.0%close of 2026-09-10
Growth the CMP implies43.6%revenue, a year for 5 years, on your other inputs
Value after FY3177%share of enterprise value in the terminal
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Where the methods land · ₹ per share · the dashed line is the CMP
DCF, rate ±1 · growth ±1your model across the sensitivity grid
₹473₹876
52-week rangetraded range, a fact not a value
₹1,273₹1,989
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 2,330 |
| PV of terminal value | 7,611 |
| Enterprise value | 9,941 |
| less net debt | 243 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 10,184 |
| ÷ 16.76 crore shares | ₹608 |
77% of the value sits after FY31. Usual when return on capital sits near the cost of capital; the 5 explicit years carry little of it.
Free cash flow, filed and modelled · ₹ '000 crore
Filed, cash from operations − capexModelled free cash flow to firm
Sensitivity · ₹ per share
Down Across| WACC ↓terminal growth → | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|
| 10.00% | 627 | 673 | 727 | 793 | 876 |
| 10.50% | 580 | 617 | 662 | 715 | 780 |
| 11.00% | 539 | 571 | 608 | 651 | 704 |
| 11.50% | 504 | 531 | 562 | 598 | 641 |
| 12.00% | 473 | 496 | 523 | 553 | 589 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,897.00; n/a marks a terminal growth at or above the discount rate. Steps: WACC and terminal growth ±0.5 point, growth ±2, margin ±1.
Distribution of outcomes · 4,000 draws · growth, margin and the discount rate vary together
| 10th · 50th · 90th percentile, ₹ per share | 490 · 604 · 746 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.60 |
| Rank correlation with discount rate | −0.55 |
| Rank correlation with revenue growth | +0.53 |
Each driver is drawn from a PERT distribution between the lowest and highest value across your scenarios (or ±50% growth, ±20% margin when there is one scenario), with the discount rate ±1.5 points. Seeded, so the same inputs give the same picture.
Projected cash flow to the firm · ₹ crore
History Forward| ₹ crore | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,017 | 2,227 | 2,461 | 2,763 | 3,094 | 3,466 | 3,882 | 4,347 | 4,869 |
| growth % | (3.4) | 10.4 | 10.5 | 12.2 | 12.0 | 12.0 | 12.0 | 12.0 | 12.0 |
| EBITDA | 490 | 609 | 696 | 752 | 842 | 943 | 1,056 | 1,183 | 1,324 |
| margin % | 24.3 | 27.4 | 28.3 | 27.2 | 27.2 | 27.2 | 27.2 | 27.2 | 27.2 |
| less depreciation | (150) | (144) | (142) | (162) | (183) | (204) | (229) | (257) | (287) |
| EBIT | 340 | 466 | 554 | 591 | 659 | 738 | 827 | 926 | 1,037 |
| less tax on EBIT | (141) | (157) | (176) | (197) | (220) | (247) | |||
| NOPAT | 450 | 502 | 563 | 630 | 706 | 790 | |||
| add depreciation | 150 | 144 | 142 | 162 | 183 | 204 | 229 | 257 | 287 |
| less capex | (37) | (51) | (44) | (167) | (186) | (217) | (254) | (296) | (345) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | |||
| Free cash flow to firm | 420 | 484 | 525 | — | 499 | 550 | 605 | 666 | 733 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 474 | 470 | 466 | 462 | 458 |
History columns are the filed years (free cash flow there is cash from operations − capex, as filed); the base year and everything to its right come from the engine. Forward is the explicit horizon of the model itself: 3, 5 or 10 years, then flat.
The three statements, projected · ₹ crore · debt held at 0, dividends at 44.1% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 591 | 659 | 738 | 827 | 926 | 1,037 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 659 | 738 | 827 | 926 | 1,037 | |
| Profit after tax | 505 | 502 | 563 | 630 | 706 | 790 |
| Dividends | (223) | (221) | (248) | (278) | (311) | (349) |
| Balance sheet, year end | ||||||
| Cash | 243 | 520 | 822 | 1,149 | 1,504 | 1,889 |
| Working capital | (26) | (26) | (26) | (26) | (26) | (26) |
| Net block and other assets | 2,929 | 2,932 | 2,945 | 2,970 | 3,009 | 3,067 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 2,541 | 2,822 | 3,137 | 3,489 | 3,883 | 4,325 |
| Balance check | 0 | 0 | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 685 | 767 | 859 | 962 | 1,078 | |
| Investing (capex) | (186) | (217) | (254) | (296) | (345) | |
| Financing (dividends) | (221) | (248) | (278) | (311) | (349) | |
| Net change in cash | 278 | 302 | 327 | 355 | 384 | |
| Free cash flow to equity | 499 | 550 | 605 | 666 | 733 | |
Other liabilities are held at their FY26 level, so the check tests only what the model moves: cash, working capital, net block and other assets, debt and equity. A non-zero check would mean the three statements no longer tie.
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | DCF | 12% | 27.2% | 11.00% | 5% | ₹608 | (68.0)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.