Medplus Health Services Limited has informed the Exchange about Transcript
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Medplus Health Services filed the transcript of its Q1 FY26 earnings call held on August 4, 2025. Consolidated revenue stood at Rs. 1,542.6 crore with operating EBITDA of Rs. 72.8 crore (4.7% margin), driven mainly by pharmacy operations (~99% of revenue). The company added 101 net new stores in the quarter, taking the total network to 4,813 stores across 13 states. Pharmacy revenue grew 6.6% YoY on GMB basis and 3.3% on net basis, with private label pharma now contributing 20.4% of GMB (up from 7.9% a year ago). The diagnostics segment revenue rose to Rs. 30.3 crore with a healthy 13.6% EBITDA margin. Management reiterated its target of adding 600 stores in FY26, including ~100 franchise pilots, and expects private label share to grow ~0.5% per quarter, which it said adds about 0.2% to gross margins.
Mixed quarter for shareholders: margin profile strengthened, but topline growth remains sluggish due to supply chain hiccups and a deliberate trade-off toward private label. Management's refusal to give full-year topline guidance and warning of 1–2 more quarters of back-end issues could keep near-term stock sentiment cautious, though store expansion and improving diagnostics economics remain positives.