Medplus Health Services Limited has informed the Exchange about Investor Presentation
MEDPLUS · price
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Medplus Health Services reported strong Q4 FY2026 results with revenue of ₹18,644m, up 23.5% year-on-year and 3.2% quarter-on-quarter. Full-year FY2026 revenue stood at ₹68,925m, a 12.3% increase over FY25. Gross margin improved to 26.5% in Q4 (up 30 bps qoq) and 26.2% for the full year (up 180 bps over FY25), driven by increasing private label share which now contributes 25.3% of pharmacy revenue. Operating EBITDA for Q4 was ₹1,076.3m (5.8% margin) and for FY26 was ₹3,658.4m (5.3% margin), up 31.8% YoY. The company added a record 618 net stores in FY26 (792 gross, 174 closures), reaching 5,330 stores across 13 states. Stores older than 12 months delivered 17.8% revenue growth, 13.1% store-level EBITDA margin and 80.0% store-level operating ROCE. Operating cash flow was ₹917m with closing cash of ₹5,942m.
Medplus demonstrates consistent operational improvement with gross margins expanding YoY, store-level profitability increasing, and strong cash generation. The 618 store net additions in a single year signals aggressive but disciplined cluster-based expansion, and the rising share of private label should continue supporting margin expansion. The stock remains on a positive trajectory with improving unit economics at mature stores.