Dr Lalchandani Labs Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹30

Listed On

09 May 2018

Listing Price

₹29.95 (-0.17%)

Current Price LIVE

₹29.95 (-0.17%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	8,000	₹2,40,000
HNI Min	3	12,000	₹3,60,000

As per financials, company's performance is good, it has shown consistent growth and issue is reasonably priced as per latest earnings. So we give NEUTRAL rating to this SME IPO as per current market situation and "SUBSCRIBE FOR LONG TERM".

Started in 2011, Delhi based Dr. Lalchandani Labs Limited is a provider of diagnostic and related healthcare tests. Through its integrated network, the company offers patients and healthcare providers 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 Company is NABL Accredited Lab and has established 5 (Five) Self-Sufficient Labs and multiple collection centers within Delhi/NCR. The Company is managing/servicing labs at some of the leading hospitals and operating retail outlets. The Company has a Blood Banking services through its sister concern CPC blood bank founded by Dr. A Lalchandani himself in 1987. As per financial performance, LLL has posted total income/net profits of Rs. 1.22 cr. / Rs. 0.02 cr. (FY13), Rs. 1.41 cr. / Rs. 0.04 cr. (FY14), Rs. 1.93 cr. / Rs. 0.32 cr. (FY15), Rs.3.03 cr. / Rs. 0.32 cr. (FY16) and Rs. 4.62 cr. / Rs. 0.71 cr. (FY17). For the first 10 months of FY18 it has earned net profit of Rs. 1.06 cr. on a turnover of Rs. 4.11 cr. (with combine data of partnership and newly converted company). As company was converted into a limited company in Fiscal 18, it has reported an EPS of Rs. 1.01 (not annualised). It has posted RoNW of 0.07 for the said period. Issue is priced at a P/BV of 1.97 on the basis of its NAV of Rs. 15.21 as on 31.01.18 and at a P/BV of 1.74 on the basis of post issue NAV of Rs. 17.31. If we annualise latest earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of around 10 thus issue appears reasonably priced. As per offer document it has no listed peers. Although on the basis of scale, they are not comparable in true sense, we may consider main board peers like Thyrocare, Dr. Lal Path that are trading at a P/E of around 38 and 43. On merchant banker's front, this is the 12th IPO in last three fiscals and out of last 10 listings, 3 opened at discount, 1 at par and the rest with a premium ranging from 5% to 20% on the day of listings. As per financials, company's performance is good, it has shown consistent growth and issue is reasonably priced as per latest earnings. So we give NEUTRAL rating to this SME IPO as per current market situation and "SUBSCRIBE FOR LONG TERM".

Fresh Issue

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area) in Delhi/NC
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support syste
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Repayment/pre-payment, in full or part, of certain borrowings availed by the Company.
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To purchase advanced machinery and equipment.
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To open new collection centers based on COCO model.
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To develop E Applications and E Programs and other I.T. support system.
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For Recruitment, Training, and Placement of staff to expand operations and other operational expenses.
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For general corporate purposes.
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All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
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Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
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With entry barriers, SEBI wants only well informed investors to participate is such SME offer
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With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
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However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
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Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

50 Comments

C
C.A 09 May 2018, 11:08

RS. 28.50
C
CA Manish Rathi 09 May 2018, 10:58

price
C
CA Manish Rathi 09 May 2018, 10:58

listing prive
C
C.A 09 May 2018, 10:34

sold all shares
C
C.A 07 May 2018, 11:11

anybody received allotted shares in D.mat account
C
C.A 05 May 2018, 16:56

3 applied 1 allotted
V
veeru 05 May 2018, 13:38

My account debited
V
veeru 05 May 2018, 13:38

Allotment out
C
CA Manish Rathi 05 May 2018, 12:44

any update on allotment listing date
J
jekhadeesan 04 May 2018, 19:36

any update on allotment
C
C.A 04 May 2018, 17:25

allotment late
C
CA Manish Rathi 04 May 2018, 12:15

allotment date listing date kab hai
I
IPO Guru 04 May 2018, 11:50

not yet
J
jekhadeesan 04 May 2018, 11:41

Hi,have anybody received the allotment?
V
veeru 04 May 2018, 00:33

Kal
C
CA Manish Rathi 03 May 2018, 09:11

allotment status kab tak aayega
P
Praji 02 May 2018, 08:44

thank you Paras
P
paras 02 May 2018, 08:44

you can sell on listing date
P
Praji 02 May 2018, 08:42

IPO guru or others if i buy SME ipo share will i need to hold fixed days after listing like 3 years 2 years anything like that or will i able to sell on listing date itself. please advise me
P
paras 27 Apr 2018, 13:37

can v apply
P
paras 27 Apr 2018, 13:37

how many subscribe till now?
I
IPO Guru 27 Apr 2018, 11:23

company looks good with consistent performance, the only thing is performance of lead manager. So one may apply, but its little bit risky also.
C
C.A 27 Apr 2018, 07:30

good na lagy tho na apply karo dear, kisi Ko good lagay ga kisi Ko bad.
H
haresh 26 Apr 2018, 23:49

Dr lalchanda sajek 2 ka kya bav se
C
CA BVM 26 Apr 2018, 22:51

Is it worth applying. Please reply with reasons
C
C.A 26 Apr 2018, 16:04

good IPO must apply
I
IPO Guru 26 Apr 2018, 14:32

Dhruv and Softech looks good
I
IPO Guru 26 Apr 2018, 14:32

this ipo is not active in gmp
I
IPO Guru 26 Apr 2018, 14:31

@manish, cut off means one is applying with highest price and agree to get allotment at whatever price company decides to give allotment. In price bid applicant giving specific price where they want to get allotment if allotment price is higher than bid will be rejected.
S
satish kumar 26 Apr 2018, 11:43

ipo
S
satish kumar 26 Apr 2018, 11:42

which iop is best among all these.....
M
manish rathi 26 Apr 2018, 10:28

what is difference between cut off and price bid
M
manish rathi 26 Apr 2018, 08:53

any gmp and this ipo will apply or not
C
C.A 25 Apr 2018, 21:50

it will oversubscribe more than 20 times
M
manish rathi 25 Apr 2018, 11:03

thank you @ ipo guru
I
IPO Guru 25 Apr 2018, 11:01

it may be possible, but day of allotment and day of closing same, so would be very risk and any delay will make it impossible.
M
manish rathi 25 Apr 2018, 08:39

it is possible if dr lalchandani share not alloted than those fund can be used in softech eng sme
I
IPO Guru 24 Apr 2018, 10:02

not active in gray market as of now
I
IPO Guru 24 Apr 2018, 10:02

currently all are listing in T2T
K
KUNAL SHAH 23 Apr 2018, 21:39

subject 2 rate kya hay???
T
Tejendra 23 Apr 2018, 12:42

ipo guru ,plz confirm whether all sme are listed in T2T or normal
M
manish rathi 23 Apr 2018, 12:02

how we know this sme is T2T or not
M
manish rathi 23 Apr 2018, 12:02

is it T2T
I
IPO Guru 23 Apr 2018, 10:20

but limited risk also there
I
IPO Guru 23 Apr 2018, 10:20

good
P
pankaj 21 Apr 2018, 10:28

*Akshar Sprintex..
P
pankaj 21 Apr 2018, 10:25

what about Akash Sprintex ??
I
IPO Guru 20 Apr 2018, 12:49

company looks good and may be 5-7% listing gain possible.
I
IPO Guru 20 Apr 2018, 12:48

Check detail page for review.
M
manish rathi 20 Apr 2018, 12:36

ipo guru give review dont give netural rating

As on Date	QIB	RII	Total
Shares Offered / Reserved	6,64,000	6,64,000	13,28,000
Day 1 25-04-18	1,68,000 (0.25)	1,48,000 (0.22)	3,16,000 (0.24)
Day 2 26-04-18	10,56,000 (1.59)	9,96,000 (1.5)	20,52,000 (1.55)
Day 3 27-04-18	21,52,000 (3.24)	40,72,000 (6.13)	62,24,000 (4.69)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
31.01.18 FY 18	4.11	3.06	1.06
FY 17	4.62	3.91	0.71
FY 16	3.03	2.71	0.32
FY 15	1.93	1.61	0.32
FY 14	1.41	1.37	0.04
FY 13	1.22	1.20	0.02

Open Date	Apr 25, 2018
Close Date	Apr 27, 2018
Allotment Date	May 03, 2018
Listing Date	May 09, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 30 Per Equity Share
Retail Min Lot	1 Lot (4,000 Shares - ₹ 1,20,000)
Lead Manager	Navigant Corporate Advisors Limited

Dr Lalchandani Labs Limited

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