#EBITDA #GROWTH 5 Year CAGR 8.3%
In FY24, the EBITDA stood at โน4,327 cr and grew by 25.7% YoY. This increase can be attributed to softening of raw material prices and favorable product mix. Gross profits expanded by 21% YoY. In 9M FY25, the EBITDA was โน3,454 cr v/s โน3,198 cr in 9M FY24 an increase of 8% YoY. This was led by stable raw material prices and better product mix. However, the company saw an increase in expenses for the period as it had various new launches, and it launched EV in the recently held Auto Expo coupled with marketing spends towards the same.
In FY24, the EBITDA stood at โน4,327 cr and grew by 25.7% YoY. This increase can be attributed to softening of raw material prices and favorable product mix. Gross profits expanded by 21% YoY. In 9M FY25, the EBITDA was โน3,454 cr v/s โน3,198 cr in 9M FY24 an increase of 8% YoY. This was led by stable raw material prices and better product mix. However, the company saw an increase in expenses for the period as it had various new launches, and it launched EV in the recently held Auto Expo coupled with marketing spends towards the same.
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#EBITDA #MARGIN
In FY24, the EBITDA margin expanded to 26.2% from 23.8% in FY23 and this can be attributed to better product mix and softening of commodity prices. In 9M FY25, the EBITDA margin remained at 25.3% v/s 26% in 9M FY24. The decline in margin can be attributed to investments towards EV launch and new launches coupled with advertisement & promotional spends.
In FY24, the EBITDA margin expanded to 26.2% from 23.8% in FY23 and this can be attributed to better product mix and softening of commodity prices. In 9M FY25, the EBITDA margin remained at 25.3% v/s 26% in 9M FY24. The decline in margin can be attributed to investments towards EV launch and new launches coupled with advertisement & promotional spends.
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#PAT #MARGIN
In FY24, the expansion in PAT margin to 21.5% was driven by rise in other income. Including the share of profit from associate/JV the margin was 24.2%. In 9M FY25, the PAT margin (including share of profit/associate) increased to 24.7% v/s 23.9% in 9M FY24.
In FY24, the expansion in PAT margin to 21.5% was driven by rise in other income. Including the share of profit from associate/JV the margin was 24.2%. In 9M FY25, the PAT margin (including share of profit/associate) increased to 24.7% v/s 23.9% in 9M FY24.
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#ROCE
Companyโs ROCE during FY24 increased to 31% on account of rise in PBIT. Increase in capital employed was on account of rise in other investments and other financial assets and this majorly constituted bank deposits.
Companyโs ROCE during FY24 increased to 31% on account of rise in PBIT. Increase in capital employed was on account of rise in other investments and other financial assets and this majorly constituted bank deposits.
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#CASH #FLOWS
In FY24, cash flow from operations stood at โน3,724 cr. The increase is on account of working capital adjustments and rise in profit before tax and after share of profit of Joint venture. Cash outflow from investing activities stood at โน2,852 cr that majorly included purchase of debt mutual funds (net) โน134 cr and investments (net) in fixed deposits of โน2,220 cr. Cash outflow from financing activities was โน844 cr and this outflow majorly constituted dividend payment.
In FY24, cash flow from operations stood at โน3,724 cr. The increase is on account of working capital adjustments and rise in profit before tax and after share of profit of Joint venture. Cash outflow from investing activities stood at โน2,852 cr that majorly included purchase of debt mutual funds (net) โน134 cr and investments (net) in fixed deposits of โน2,220 cr. Cash outflow from financing activities was โน844 cr and this outflow majorly constituted dividend payment.
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#MANAGEMENT
The company announced key leadership changes on 10th February 2025, with Siddhartha Lal appointed as Executive Chairman of the Board following the retirement of Chairman S. Sandilya. Vinod Aggarwal has been named Vice Chairman (Non-Executive) while continuing as MD and CEO of VE Commercial Vehicles, EMLโs joint venture with Volvo Group. B. Govindarajan has been appointed as Managing Director of EML and will also retain his role as CEO of Royal Enfield. Additionally, the board has welcomed Ira Gupta and Arun Vasu as Independent Directors, with Ira assuming her role from 10th February 2025, and all other appointments taking effect from 13th February 2025. Meanwhile, Independent Director Manvi Sinha will retire on 12th February 2025, upon completing her tenure.
The company announced key leadership changes on 10th February 2025, with Siddhartha Lal appointed as Executive Chairman of the Board following the retirement of Chairman S. Sandilya. Vinod Aggarwal has been named Vice Chairman (Non-Executive) while continuing as MD and CEO of VE Commercial Vehicles, EMLโs joint venture with Volvo Group. B. Govindarajan has been appointed as Managing Director of EML and will also retain his role as CEO of Royal Enfield. Additionally, the board has welcomed Ira Gupta and Arun Vasu as Independent Directors, with Ira assuming her role from 10th February 2025, and all other appointments taking effect from 13th February 2025. Meanwhile, Independent Director Manvi Sinha will retire on 12th February 2025, upon completing her tenure.
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#COMPANY #POTENTIAL
โข In FY24, the two wheelers sales volume for FY24 was ~1.8 cr units in domestic markets and 34.6 lakh units in export markets as compared to ~1.6 cr units in domestic market and 36.5 lakh units in export market in FY23. (Source: Siam) โข In 9M FY25, the two wheelers industry sales was 1,50,39,570 units v/s 1,34,70,570 units in 9M FY24 showcasing an increase of 11.6% YoY. In CY24 (Jan-Dec 2024) the two wheeler industry (domestic) reported sales of 1.95 cr units of which, of which scooters sales was 66.8 lakh units, motorcycles at 1.2 cr units and mopeds at 5.2 lakh units v/s 1.71 cr units in CY23, of which scooters constituted 55.7 lakh units, motorcycles 1.1 cr units and mopeds at 4.7 lakh units. In Q3 FY25, the two wheeler industry sales was 48.8 lakh units v/s 47.3 lakh units in Q3 FY24, a rise of 3.2% YoY.
The industry retail on VAHAN for EV reached 9.3 lakh units in FY24, up from 7.1 lakh units in FY23. The penetration of EV twowheelers for the year FY24 stood at ~5%. The sales during 9M FY25 was ~7.8 lakh units v/s ~6.4 lakh units in 9M FY24. (Source: โข The PST (Defined as Power, Style & Technology; Engine size >125cc) segment motorcycles grew by 21.6% to 28.1 lakh units and now contributes to 24.1% of the overall motorcycles (22.6% in FY23). The >250cc segment expanded by 19.2% in FY24 to 9.4 lakh โข The commercial vehicles sales (domestic) in FY24 was 9,67,878 units as compared to 9,62,468 units in FY23 exhibiting a rise of 1% YoY. Sales in 9M FY25 were 6,83,471 units v/s 6,99,507 units in 9M FY24 and it was 2,38,050 units in Q3 FY25 v/s 2,35,167 units in CASE STUDY
โข In FY24, the two wheelers sales volume for FY24 was ~1.8 cr units in domestic markets and 34.6 lakh units in export markets as compared to ~1.6 cr units in domestic market and 36.5 lakh units in export market in FY23. (Source: Siam) โข In 9M FY25, the two wheelers industry sales was 1,50,39,570 units v/s 1,34,70,570 units in 9M FY24 showcasing an increase of 11.6% YoY. In CY24 (Jan-Dec 2024) the two wheeler industry (domestic) reported sales of 1.95 cr units of which, of which scooters sales was 66.8 lakh units, motorcycles at 1.2 cr units and mopeds at 5.2 lakh units v/s 1.71 cr units in CY23, of which scooters constituted 55.7 lakh units, motorcycles 1.1 cr units and mopeds at 4.7 lakh units. In Q3 FY25, the two wheeler industry sales was 48.8 lakh units v/s 47.3 lakh units in Q3 FY24, a rise of 3.2% YoY.
The industry retail on VAHAN for EV reached 9.3 lakh units in FY24, up from 7.1 lakh units in FY23. The penetration of EV twowheelers for the year FY24 stood at ~5%. The sales during 9M FY25 was ~7.8 lakh units v/s ~6.4 lakh units in 9M FY24. (Source: โข The PST (Defined as Power, Style & Technology; Engine size >125cc) segment motorcycles grew by 21.6% to 28.1 lakh units and now contributes to 24.1% of the overall motorcycles (22.6% in FY23). The >250cc segment expanded by 19.2% in FY24 to 9.4 lakh โข The commercial vehicles sales (domestic) in FY24 was 9,67,878 units as compared to 9,62,468 units in FY23 exhibiting a rise of 1% YoY. Sales in 9M FY25 were 6,83,471 units v/s 6,99,507 units in 9M FY24 and it was 2,38,050 units in Q3 FY25 v/s 2,35,167 units in CASE STUDY
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#COMPANY #OUTLOOK
โข The company shall be launching its EV model (Flying Flea) during Q1 FY26. This is being manufactured at its Vallam plant, wherein it has an initial manufacturing capacity of 1.5 lakh units per annum. โข Royal Enfield has commenced operations in Bangladesh, opening a flagship showroom in Dhaka and launching the Hunter 350, Meteor 350, Classic 350, and Bullet 350, with bookings started from 22nd October onwards. A new manufacturing facility in Cumilla District, with an annual capacity of 30,000 units, has also been established to meet growing demand for premium middleweight motorcycles. global CKD unit, following plants in Argentina, Colombia, Brazil, Bangladesh, and Nepal. enhancing the customer experience. โข Further strengthening its presence in the international markets, Royal Enfield launched its first CKD assembly facility outside India in Bangkok, Thailand. The 57,000 sq. ft. plant has a production capacity of 30,000 units annually and marks Royal Enfield's sixth โข Royal Enfield also expanded its pre-owned motorcycle platform, REOWN, to 236 cities across India. Launched in 2023, REOWN now operates through 475 dealerships across 24 states, offering a trusted platform for buying, selling and exchanging pre-owned Royal Enfield motorcycles. Additionally, the brand introduced its first-ever loyalty program with exchange benefits further โข In Q3 FY25, the VECV segment reported revenue of โน5,801 cr, reflecting a 5.8% YoY growth. EBITDA stood at โน509 cr, with a 700 bps YoY expansion in EBITDA margin, driven by improved cost management and price discipline. The company sold 21,012 trucks during the quarter, up from 20,706 units in Q3 FY24. VECV maintained a strong presence in the LMD truck market with a ~36% share, while its HD truck market share stood at ~9%. Additionally, the company held a ~21% market share in the bus segment.
โข The company shall be launching its EV model (Flying Flea) during Q1 FY26. This is being manufactured at its Vallam plant, wherein it has an initial manufacturing capacity of 1.5 lakh units per annum. โข Royal Enfield has commenced operations in Bangladesh, opening a flagship showroom in Dhaka and launching the Hunter 350, Meteor 350, Classic 350, and Bullet 350, with bookings started from 22nd October onwards. A new manufacturing facility in Cumilla District, with an annual capacity of 30,000 units, has also been established to meet growing demand for premium middleweight motorcycles. global CKD unit, following plants in Argentina, Colombia, Brazil, Bangladesh, and Nepal. enhancing the customer experience. โข Further strengthening its presence in the international markets, Royal Enfield launched its first CKD assembly facility outside India in Bangkok, Thailand. The 57,000 sq. ft. plant has a production capacity of 30,000 units annually and marks Royal Enfield's sixth โข Royal Enfield also expanded its pre-owned motorcycle platform, REOWN, to 236 cities across India. Launched in 2023, REOWN now operates through 475 dealerships across 24 states, offering a trusted platform for buying, selling and exchanging pre-owned Royal Enfield motorcycles. Additionally, the brand introduced its first-ever loyalty program with exchange benefits further โข In Q3 FY25, the VECV segment reported revenue of โน5,801 cr, reflecting a 5.8% YoY growth. EBITDA stood at โน509 cr, with a 700 bps YoY expansion in EBITDA margin, driven by improved cost management and price discipline. The company sold 21,012 trucks during the quarter, up from 20,706 units in Q3 FY24. VECV maintained a strong presence in the LMD truck market with a ~36% share, while its HD truck market share stood at ~9%. Additionally, the company held a ~21% market share in the bus segment.
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Eicher Motors Limited 4900-5100
Expected level 6000
Support 4700
Expected level 6000
Support 4700
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Dr. Lal Pathlabs Company details Report
Dr. Lal Pathlabs is Indiaโs leading & trusted diagnostics company with 70+ years of experience in the field of diagnostics. 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 Dr. Lal Pathlabs are aimed at individual patients, hospitals and other healthcare providers and corporates. The catalogue of services includes 343 test panels, 3,075 pathology tests and 1,439 radiology and cardiology tests as on 31st March 2024. The company has 280 clinical labs (including National Reference Lab at Delhi & Regional Reference Lab at Kolkata, Bangalore & Mumbai), 5,762 Patient Service Centers (PSCs) and 11,619 Pick-up Points (PUPs). It includes 40 labs, 207 PSCโs and 1,008 PUPโs of Suburban Diagnostics. The company is constantly looking to bringing new tests to the market especially in varied fields like Neurology, Oncology post organ transplant monitoring to help clinicians provide an accurate diagnosis to their patients.
Dr. Lal Pathlabs is Indiaโs leading & trusted diagnostics company with 70+ years of experience in the field of diagnostics. 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 Dr. Lal Pathlabs are aimed at individual patients, hospitals and other healthcare providers and corporates. The catalogue of services includes 343 test panels, 3,075 pathology tests and 1,439 radiology and cardiology tests as on 31st March 2024. The company has 280 clinical labs (including National Reference Lab at Delhi & Regional Reference Lab at Kolkata, Bangalore & Mumbai), 5,762 Patient Service Centers (PSCs) and 11,619 Pick-up Points (PUPs). It includes 40 labs, 207 PSCโs and 1,008 PUPโs of Suburban Diagnostics. The company is constantly looking to bringing new tests to the market especially in varied fields like Neurology, Oncology post organ transplant monitoring to help clinicians provide an accurate diagnosis to their patients.
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#SALES #GROWTH 5 Year CAGR 13.1%
In FY24, the net sales grew by 10.4% YoY to โน2,227 cr primarily driven by increased patient volumes and realization. Patients tested grew by 2.6% YoY to 2.76 cr. It collected 7.82 cr samples in FY24, i.e., a growth of 8.2% YoY. The revenue realization per patient grew by 7.5% YoY to โน807 (v/s โน750 in FY23). The sales contribution from tier 3+ was 35% of the total sales. Suburban Diagnostics reported sales of โน164 cr in FY24 (v/s โน150 cr in FY23). In 9M FY25, the sales grew by 10.6% YoY to โน1,859 cr driven by patient volume. Patients tested increased by 4.3% YoY to 2.20 cr. The company tested 6.47 cr samples, i.e., a growth of 9.6% YoY. The average revenue realization per patient stood at โน845 (v/s โน797 in 9M FY24) mainly led by test mix.
In FY24, the net sales grew by 10.4% YoY to โน2,227 cr primarily driven by increased patient volumes and realization. Patients tested grew by 2.6% YoY to 2.76 cr. It collected 7.82 cr samples in FY24, i.e., a growth of 8.2% YoY. The revenue realization per patient grew by 7.5% YoY to โน807 (v/s โน750 in FY23). The sales contribution from tier 3+ was 35% of the total sales. Suburban Diagnostics reported sales of โน164 cr in FY24 (v/s โน150 cr in FY23). In 9M FY25, the sales grew by 10.6% YoY to โน1,859 cr driven by patient volume. Patients tested increased by 4.3% YoY to 2.20 cr. The company tested 6.47 cr samples, i.e., a growth of 9.6% YoY. The average revenue realization per patient stood at โน845 (v/s โน797 in 9M FY24) mainly led by test mix.
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#EBITDA #GROWTH 5 Year CAGR 15.7%
In FY24, the EBITDA grew by 24.4% YoY to โน609 cr. The growth was led by increased in scale of operation and cost efficiencies. In FY24, sample per patient increased by 5.4% YoY to 2.83x (v/s 2.69x in FY23). The companyโs cost of raw material constitutes ~28% of the total expenses followed by other expenses ~26%, employee benefit expenses ~26% and fee to collection centres /channel partners ~19%. In 9M FY25, the EBITDA grew by 13.3% YoY to โน527 cr (v/s โน465 cr in 9M FY24). The growth was led by improvement in gross margin due to decline in raw material cost. Sample per patient for 9M FY25 was 2.95x, i.e., a growth of 5.2% YoY.
In FY24, the EBITDA grew by 24.4% YoY to โน609 cr. The growth was led by increased in scale of operation and cost efficiencies. In FY24, sample per patient increased by 5.4% YoY to 2.83x (v/s 2.69x in FY23). The companyโs cost of raw material constitutes ~28% of the total expenses followed by other expenses ~26%, employee benefit expenses ~26% and fee to collection centres /channel partners ~19%. In 9M FY25, the EBITDA grew by 13.3% YoY to โน527 cr (v/s โน465 cr in 9M FY24). The growth was led by improvement in gross margin due to decline in raw material cost. Sample per patient for 9M FY25 was 2.95x, i.e., a growth of 5.2% YoY.
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#PAT #GROWTH 5 Year CAGR 12.5%
In FY24, the PAT increased by 50.3% YoY to โน362 cr. The higher growth was on account of increase in EBITDA and higher other income. Other income increased to โน69 cr in FY24 (v/s โน41.7 cr in FY23). The finance cost declined by 22% YoY to โน29 cr because of repayment of some borrowings. Additions of new labs further drive the growth of the company. In 9M FY25, the PAT grew by 21.8% YoY to โน337 cr (v/s โน277 cr in 9M FY24). The profit growth was led by operating leverage and strategic initiatives to optimize costs by leveraging technological advancements. The other income increased to โน67.6 cr (v/s โน50.8 cr in 9M FY24).
In FY24, the PAT increased by 50.3% YoY to โน362 cr. The higher growth was on account of increase in EBITDA and higher other income. Other income increased to โน69 cr in FY24 (v/s โน41.7 cr in FY23). The finance cost declined by 22% YoY to โน29 cr because of repayment of some borrowings. Additions of new labs further drive the growth of the company. In 9M FY25, the PAT grew by 21.8% YoY to โน337 cr (v/s โน277 cr in 9M FY24). The profit growth was led by operating leverage and strategic initiatives to optimize costs by leveraging technological advancements. The other income increased to โน67.6 cr (v/s โน50.8 cr in 9M FY24).
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#EBITDA #MARGIN
In FY24, the EBITDA margin of the company expanded by 307 bps YoY to 27.4% led by scale of operation and operational efficiencies. During the year, Suburban Diagnostics Private Limited EBITDA margin stood at 13% (v/s 12% in FY23). It has sustained its operating margin above 25% over the years. Brand and economies of scale have helped the company in maintaining the margin. In 9M FY25, the EBITDA margin expanded by 69 bps YoY to 28.3% (v/s 27.6% in 9M FY24). The margin expansion was led by decline in raw material cost and other expenses as a percentage of sales. Suburban Diagnostics Private Limited EBITDA margin stood at 12% in Q3 FY25 (v/s 20% in Q2 FY25). The company had not taken any price hike in 9M FY25. Currently, these are no plan of any price hike as of now.
In FY24, the EBITDA margin of the company expanded by 307 bps YoY to 27.4% led by scale of operation and operational efficiencies. During the year, Suburban Diagnostics Private Limited EBITDA margin stood at 13% (v/s 12% in FY23). It has sustained its operating margin above 25% over the years. Brand and economies of scale have helped the company in maintaining the margin. In 9M FY25, the EBITDA margin expanded by 69 bps YoY to 28.3% (v/s 27.6% in 9M FY24). The margin expansion was led by decline in raw material cost and other expenses as a percentage of sales. Suburban Diagnostics Private Limited EBITDA margin stood at 12% in Q3 FY25 (v/s 20% in Q2 FY25). The company had not taken any price hike in 9M FY25. Currently, these are no plan of any price hike as of now.
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#PAT #MARGIN
In FY24, the PAT margin expanded by 432 bps YoY to 16.3%. The effective tax rate was 28.3% in FY24 as compared to 29.9% in FY23. In 9M FY25, the PAT margin expanded by 167 bps YoY to 18.1% (v/s 16.4% in 9M FY24). The effective tax rate stood at 28.6% as compared to 28.3% in 9M FY24.
In FY24, the PAT margin expanded by 432 bps YoY to 16.3%. The effective tax rate was 28.3% in FY24 as compared to 29.9% in FY23. In 9M FY25, the PAT margin expanded by 167 bps YoY to 18.1% (v/s 16.4% in 9M FY24). The effective tax rate stood at 28.6% as compared to 28.3% in 9M FY24.
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#SECTOR #POTENTIAL
โข The Indian diagnostic industry is highly fragmented and dominated by unorganized players. In FY24, the Indian diagnostic market stood at ~โน86,500 cr. โข Hospital-based labs ~39% of the overall diagnostic market followed by Standalone labs constitute ~38%, and Diagnostic chains ~23%. โข Diagnostic chains are further classified in two parts, i.e., multi-regional ~36% and the balance ~64% are regional chains. โข The low regional penetration in the Indian market provides ample scope for growth for large organized players. Following key trends are expected to drive sector growth in the coming years:- โข Ageing Population: In India, the population of 65 years and more is growing at 4%-4.5% p.a. providing ample opportunity for the healthcare industry, especially the diagnostic industry. โข Preventive Testing: Increasing awareness and the measures taken by the Government to promote preventive testing via tax cuts may become a tailwind for volume growth. โข Evidence-based treatments: With the rapid technological advancements in the healthcare industry, doctors increasingly prefer evidence based treatment. This creates a sustained driver for the growth of the diagnostics industry.
โข The Indian diagnostic industry is highly fragmented and dominated by unorganized players. In FY24, the Indian diagnostic market stood at ~โน86,500 cr. โข Hospital-based labs ~39% of the overall diagnostic market followed by Standalone labs constitute ~38%, and Diagnostic chains ~23%. โข Diagnostic chains are further classified in two parts, i.e., multi-regional ~36% and the balance ~64% are regional chains. โข The low regional penetration in the Indian market provides ample scope for growth for large organized players. Following key trends are expected to drive sector growth in the coming years:- โข Ageing Population: In India, the population of 65 years and more is growing at 4%-4.5% p.a. providing ample opportunity for the healthcare industry, especially the diagnostic industry. โข Preventive Testing: Increasing awareness and the measures taken by the Government to promote preventive testing via tax cuts may become a tailwind for volume growth. โข Evidence-based treatments: With the rapid technological advancements in the healthcare industry, doctors increasingly prefer evidence based treatment. This creates a sustained driver for the growth of the diagnostics industry.
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#COMPANY #OUTLOOK
โข Going forward, volume growth would be supported by expansion in underpenetrated tier 3 and tier 4 markets via DLPL brand and into Mumbai, and select parts of Maharashtra via Suburban brand. โข For FY25, the management maintained its growth guidance similar to the FY24 growth rate of 10.4%. โข The company is on track to open 15-20 new labs in FY25. It is strategically increasing the collection centres. The company is on track to add ~800 collection centres collectively across both brands. โข The management anticipates depreciation cost to increase as most of the capital expenditure for labs would incur in H2 FY25. โข Suburban Diagnostics Private Limited has three focused market, i.e., Mumbai, Pune and Goa. It will expand its reach in these markets. The company is currently focusing on increasing the topline. It expects steady margin of ~16%-17%. โข The growth drivers for the company would be: to widen their geographical footprint both through organic and inorganic means, focus on franchise management, continuous improvement in consumer convenience with the help of digital technologies, widen test menu in the regional labs to meet the market requirement, cost effectiveness programmes to stay competitive on prices and launch of new tests. โข The company continue to focus on strengthening its presence in key clusters, especially in Western and Southern India. โข The management believes that the tier 2 and tier 3 towns would grow faster and the company is very well placed in markets like Northern and Eastern India. It is also building hub labs in Varanasi, Meerut and Lucknow. โข Dr. Om Prakash Manchanda will step down as managing director of the company on account of the completion of tenure on 31st March 2025. However, after completion of tenure as managing director, he will remain as an advisor to the company.
โข Going forward, volume growth would be supported by expansion in underpenetrated tier 3 and tier 4 markets via DLPL brand and into Mumbai, and select parts of Maharashtra via Suburban brand. โข For FY25, the management maintained its growth guidance similar to the FY24 growth rate of 10.4%. โข The company is on track to open 15-20 new labs in FY25. It is strategically increasing the collection centres. The company is on track to add ~800 collection centres collectively across both brands. โข The management anticipates depreciation cost to increase as most of the capital expenditure for labs would incur in H2 FY25. โข Suburban Diagnostics Private Limited has three focused market, i.e., Mumbai, Pune and Goa. It will expand its reach in these markets. The company is currently focusing on increasing the topline. It expects steady margin of ~16%-17%. โข The growth drivers for the company would be: to widen their geographical footprint both through organic and inorganic means, focus on franchise management, continuous improvement in consumer convenience with the help of digital technologies, widen test menu in the regional labs to meet the market requirement, cost effectiveness programmes to stay competitive on prices and launch of new tests. โข The company continue to focus on strengthening its presence in key clusters, especially in Western and Southern India. โข The management believes that the tier 2 and tier 3 towns would grow faster and the company is very well placed in markets like Northern and Eastern India. It is also building hub labs in Varanasi, Meerut and Lucknow. โข Dr. Om Prakash Manchanda will step down as managing director of the company on account of the completion of tenure on 31st March 2025. However, after completion of tenure as managing director, he will remain as an advisor to the company.
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Dr Lal Pathlabs Limited 2300-2570
Expected level 3200
Support 2000
Expected level 3200
Support 2000
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TVS Motor Company Details Report
TVS Motor Company is the one of the leading two-wheeler manufacturer in India. The company has four state of the art manufacturing facilities in Hosur, Mysuru and Nalgarh in India and Karawang in Indonesia. Company has a retail finance arm TVS Credit Services (TVS Motor holds ~81% stake post investment by Premji Invest). It is a non-banking finance company catering to financing of retail focused products such as two-wheelers, used cars, used and new tractors, used commercial vehicles, consumer durables, digital finance products and personal loans. TVS CS primarily caters to self-employed, new to credit borrowers in the semiurban and rural areas in the country. TVS Motor has footprints globally, including geographies like Middle East, Africa, Southeast Asia, Indian subcontinent, Latin & Central America. Presently, it exports to over 80 countries globally. Its product portfolio has motorcycles, scooters, moped and three-wheelers. In the motorcycle portfolio it has Apache RTR 310, Apache RR 310, TVS Ronin, TVS Apache RTR series, Apache RTR 165 RP, TVS Raider, TVS Radeon, TVS Star City+ and TVS Sport; scooters comprise of TVS Jupiter 125, TVS Ntorq, TVS Zest 110, moped has TVS XL100 comprising different variants, and three wheelers has TVS King in its portfolio. It has an annual production capacity of ~49.5 lakh units for two wheelers and ~2.4 lakh units for three-wheelers. The company operates in the international destinations through various subsidiaries and associates. It has a robust supplier base and extensive sales & service network. It has expanded its presence to over 690 dealers, maintaining a strong No. 2 position in the EV segment.
TVS Motor Company is the one of the leading two-wheeler manufacturer in India. The company has four state of the art manufacturing facilities in Hosur, Mysuru and Nalgarh in India and Karawang in Indonesia. Company has a retail finance arm TVS Credit Services (TVS Motor holds ~81% stake post investment by Premji Invest). It is a non-banking finance company catering to financing of retail focused products such as two-wheelers, used cars, used and new tractors, used commercial vehicles, consumer durables, digital finance products and personal loans. TVS CS primarily caters to self-employed, new to credit borrowers in the semiurban and rural areas in the country. TVS Motor has footprints globally, including geographies like Middle East, Africa, Southeast Asia, Indian subcontinent, Latin & Central America. Presently, it exports to over 80 countries globally. Its product portfolio has motorcycles, scooters, moped and three-wheelers. In the motorcycle portfolio it has Apache RTR 310, Apache RR 310, TVS Ronin, TVS Apache RTR series, Apache RTR 165 RP, TVS Raider, TVS Radeon, TVS Star City+ and TVS Sport; scooters comprise of TVS Jupiter 125, TVS Ntorq, TVS Zest 110, moped has TVS XL100 comprising different variants, and three wheelers has TVS King in its portfolio. It has an annual production capacity of ~49.5 lakh units for two wheelers and ~2.4 lakh units for three-wheelers. The company operates in the international destinations through various subsidiaries and associates. It has a robust supplier base and extensive sales & service network. It has expanded its presence to over 690 dealers, maintaining a strong No. 2 position in the EV segment.
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