In today’s briefing:
- Utkarsh Small Finance Bank IPO- Forensic Analysis
- Dr Lal PathLabs (DLPL IN): Strong Trajectory in Non-COVID Business; Positive Industry Outlook
Utkarsh Small Finance Bank IPO- Forensic Analysis
- Utkarsh Small Finance Bank (1639303D IN) IPO opens for subscription this week.
- The company currently is fifth largest SFB in India and has demonstrated robust growth in loan portfolio, deposits and improved productivity in the last two years.
- However, one must be cautious of the write offs worth INR 6 bn done in the last two years which benefitted the NPAs
Dr Lal PathLabs (DLPL IN): Strong Trajectory in Non-COVID Business; Positive Industry Outlook
- Dr Lal PathLabs Ltd (DLPL IN) reported 14% and 16%, YoY, revenue growth from its non-COVID business in 4QFY23 and FY23, respectively.
- The company’s base business is now back to pre-COVID trajectory. Margins are also nearing pre-COVID level. Going ahead, the company has couple of margin levers.
- Due to lesser competitive threat and uncertainty over COVID, FY24 is lesser challenging than the previous year. The company expects higher revenue growth in FY24 than FY23.
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