The note is the current scenario (Base). Download PDF renders this page on the server, fonts and colours exact; Print uses the browser.
Model Note · DR. LAL PATH LABS LTD. · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
DR. LAL PATH LABS LTD. Discounted cash flow · base FY26
DR. LAL PATH LABS LTD.
Value per share, this model₹608
CMP 2026-09-10₹1,897.00
Difference(68.0)%
Growth the CMP implies43.6%/yr
This note states the assumptions and the arithmetic of one model of DR. LAL PATH LABS LTD., built on its filed FY26 consolidated statements. The value is the outcome of the assumptions below and nothing else; it is not a fair value, a target or a recommendation.
Assumptions
Input
This model
Filed reference
Revenue growth, 5 years
12% a year
FY26 12.2% · 5-yr CAGR 11.8%
EBITDA margin
27.2%
FY26 27.2% · 5-yr average 26.8%
Depreciation · capex, % of revenue
5.9% · 6%, fading to 1.2× depreciation
FY26 5.9% · 6.0%
Working capital, % of added revenue · tax
0% · 23.8%
-3 working-capital days · effective 23.8%
Discount rate
11.00%
1-yr beta 0.51
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(243) · ₹0 · ₹0 cr
FY26 net debt ₹(243) cr
Shares
16.76 crore
16.76 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY26
FY27
FY28
FY29
FY30
FY31
Revenue
2,763
3,094
3,466
3,882
4,347
4,869
growth %
12.2
12.0
12.0
12.0
12.0
12.0
EBITDA
752
842
943
1,056
1,183
1,324
Depreciation
(162)
(183)
(204)
(229)
(257)
(287)
NOPAT
450
502
563
630
706
790
less capex
(167)
(186)
(217)
(254)
(296)
(345)
less working-capital build
—
0
0
0
0
0
Free cash flow to firm
—
499
550
605
666
733
Present value
474
470
466
462
458
Source: the model; base year as filed.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
Model Note · DR. LAL PATH LABS LTD. · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
2,330
PV of the terminal value (77% of EV)
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
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
627
673
727
793
876
10.5%
580
617
662
715
780
11.0%
539
571
608
651
704
11.5%
504
531
562
598
641
12.0%
473
496
523
553
589
Source: the model; n/a where terminal growth reaches the discount rate.
Statement
This note is the reader's own model over publicly filed information: SEBI results XBRL filed with BSE and NSE and exchange price data, assembled by MarketPing software; every assumption above is the reader's. It contains no research recommendation, no price target and no opinion by MarketPing on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Historical per-share figures are on the current share count. Where a figure is unavailable the table shows a dash rather than an estimate. Nothing here constitutes investment advice, an offer or a solicitation.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
