HEALTH X PLATFORM LIMITED

Operates a healthcare distribution platform rebranded from Sastasundar Ventures, with the Healthcare Network segment generating Rs 1,283 crore of FY26 revenue, or 97.3% of segment revenue. The business runs two channels: a B2B programme called Retailer Shakti that supplies pharmacies, and a B2C channel, with 18% FY26 revenue growth driven by both. The company recently launched JITO, a private-label genetic-medicine range selling medicines up to 60% cheaper than branded alternatives, posting a Rs 30 lakh monthly run-rate at 30-40% gross margins. Geographically, the business is strong in West Bengal (5-7% market share cited by management) and is expanding into Northeast and Northern India, where growth is stated at 50%+ and 25-30% respectively. A planned Rs 234 crore capex will fund warehouses in Udaipur, Lucknow, Patna, Guwahati and West Bengal, taking warehousing capacity to over 8 lakh sq ft. The smaller Financial Services segment (Rs 13 crore FY26 revenue, 1.0% of segment revenue) is being demerged into a separately listed entity, Microsec Resources, via a 1:3 share swap. Employment is the largest cost line at 6.4% of revenue, with materials negligible at 0.1%.