Presentation of Earings Call with Analysts / Institutional Investors on Audited Financial Results
MEDPLUS · price
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MedPlus Health Services reported FY2026 revenue of ₹68,925m, up 12.3% YoY, with Q4 revenue of ₹18,644m growing 23.5% YoY. The company expanded gross margin by 180 bps to 26.2% for FY26, with Q4 margin at 26.5%. Pharmacy operating EBITDA reached ₹3,476m (5.1% margin) for FY26, improving to 5.6% in Q4. Store-level EBITDA margin for mature stores exceeded 13% with 80% ROCE. The retailer added 618 net stores in FY26, reaching 5,330 stores across 800+ cities in 13 states. Operating cash flow was ₹917m with a closing cash balance of ₹5,942m. Private label share increased across both pharma and FMCG categories.
MedPlus delivered strong margin expansion and store-level profitability improvement. The 180 bps gross margin gain and 5.1% pharmacy operating EBITDA margin signal improving unit economics. Investors should note the improving store maturity profile with 80% ROCE at mature stores.