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| Consolidated Performance Highlights: Q2 FY 2021-22 vs Q2 FY 2020-21 Revenue: Rs 498.4 Cr, a growth of 15.4% Normalised EBITDA at Rs 152.2 Cr with margin at 30.5% PBT at Rs 130.7 Cr with margin at 26.2%, and PAT Rs 96.3 Cr with margin at 19.3% |
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- Operating Revenue increased by 15.4% in Q2 FY22 to Rs. 498.4 Cr vs Rs 431.9 Cr in Q2 FY21
- Covid and Allied contributed 10.1% to Revenue in Q2 FY22 with 4.7 lac RT-PCR tests
- Normalised EBITDA (after adjustment for stock based compensation & CSR cost) for Q2 FY22 is at Rs. 152.2 Cr vs Rs 134.7 Cr in the same quarter last year
- PBT is at Rs 130.7 Cr in Q2 FY22 vs Rs 116.6 Cr. in Q2 last year
- Profit after Tax in Q2 FY22 at Rs. 96.3 Cr as compared to Rs 87.1 Cr in Q2 last year
Dr Lal PathLabs revenue contribution from West region to go up from 10% to 24% post-acquisition basis FY21
Greater Mumbai cluster shall be the second highest revenue contributor at 14% after DNCR
- Dr Lal PathLabs Limited (LPL) will acquire 100% equity of Suburban Diagnostics (India) Private Limited in an all cash deal for an enterprise value of 18.5x of FY22 audited EBITDA subject to a floor of Rs. 925 Cr. and a cap of Rs 1,150 Cr
- The deal shall be funded through the existing cash reserves of LPL
- Dr Sanjay Arora, Founder of Suburban Diagnostics, shall join LPL as Group Medical Director
- Western India Region is a strategic priority for LPL. Suburban Diagnostics is a platform acquisition for LPL.
- A platform to leverage Suburban’s strong consumer and medical brand recognition, wide network and professional management team to further accelerate its growth trajectory
- Access to 44 laboratories and Diagnostics centres (one of which is CAP accredited and five are NABL accredited) and 150+ collection centres
- Revenues of Rs 294 Cr in FY 21 with EBITDA of Rs 57.5 Cr
- The acquisition is expected to be closed within one month
- Ernst & Young acted as Financial Advisors and L&L Partners (formerly, Luthra & Luthra, Law offices) acted as Legal Advisors to LPL; Avendus Capital & Candle Partners acted as Financial Advisors and Phoenix Legal acted as legal advisors to Suburban Diagnostics.
| “Our joining hands with Suburban Diagnostics is a significant step in LPL’s endeavor to expand our footprint in Western India. I am confident that our combined strengths and a similar DNA of both the companies- led by doctor promoters, will lead to new heights in serving our customers across Western India.” - (Hony) Brig. Dr Arvind Lal, Padma Shri, Executive Chairman, Dr Lal PathLabs Limited |
| “Suburban Diagnostics transaction is in line with our stated strategy of driving growth through inorganic route especially in West and South regions. This transaction has a strategic significance for us from a long term stand point.” - Dr. Om Manchanda, Managing Director, Dr Lal PathLabs Limited |
