| Management target | Revenue 99.9% FY27 |
|---|
| Revenue growth | Revenue grew 21.8% YoY driven by pharma segment expansion. |
|---|---|
| Margins | Gross margins down 200 bps due to lower private label mix. |
| Demand visibility | Strong pharmacy demand; diagnostic segment plans for 2.5 lakh active plans. |
| Management confidence | Defensive regarding recent non-core capex plans and margin contraction. |
Growth
Revenue grew 21.8% YoY, though private label share dipped to 20% impacting profitability.
Outlook
Maintains guidance for 800 net new stores in FY27 despite putting non-core capex on hold.
Risks
Higher employee costs in Karnataka/Telangana and a failing franchise model with 52 store closures.
Last quarter's promises, checked
Delivered
- Guided 600+ net store additions FY26 → delivered 618 (= BEAT)
- Guided 9-10% SSSG → delivered 17.8% (= BEAT)
- Guided 5.7-5.8% EBITDA margin → delivered 5.8% (= BEAT)
Partly delivered
- Guided 800 net new stores FY27 → maintained target but put core capex on hold (= PARTIAL)
Missed
- Guided 20-30 bps PL share growth/qtr → delivered 20% total share vs 22% prev (= MISS)
- Guided 135.5% OCF/EBITDA ratio → delivered negative leverage (= MISS)
Earnings Call Transcript filed with NSE, NSE: MEDPLUS. Summary written with AI assistance from the document.
Medplus Health Services Ltd: key numbers
- Share price
- ₹654.90
- Market cap
- ₹7,868 Cr
- Revenue (annual)
- ₹6,892 Cr
- Net profit (annual)
- ₹219.7 Cr
- P/E (TTM)
- 37.4×Sector 57.8×
- Promoter holding
- 40.19%-0.03% QoQ
- FII holding
- 14.38%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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