Ambit Capital said #Metropolis was building a Dr Lal Pathlabs-like moat in west India by milking its reputation and test range through deepening customer reach (up six times over FY16-19; now best in the west).
With weakening competition and scope for market share gains in west (around 11% versus Dr Lal's 25% in NCR), 16 per cent revenue CAGR is doable over FY19-22 despite smaller addressable market.
An improving B2C mix – from 43% to 48% for Metropolis –will drive operating leverage-led profit growth at a compound annual growth rate (CAGR) of 21%, Ambit report said.
