Operates a chain of pharmacy retail stores across India selling pharmaceutical and non-pharmaceutical products, with a smaller diagnostic services arm. In FY26, the retail pharmacy segment contributed 98.1% of segment revenue at Rs 6,760.1 crore, while diagnostic services added 1.9% at Rs 131 crore. The store network reached 5,476 stores covering 2.9 million sq ft as of Q1 FY27, spanning 14 states and supported by 27,686 employees. The business added 146 net stores in Q1 FY27 (131 of them under a franchisee model) and has guided to 800 net additions for FY27. In Q1 FY27, pharmacy revenue grew 21.8% year-on-year; mature stores older than 12 months delivered a 10.4% store-level EBITDA margin. Private-label products made up 20% of pharmacy revenue (10.7% pharma plus 9.3% non-pharma), with a subscription base of 44-45 lakh members paying a Rs 149 fee. Subsidiary Optival Health Solutions runs roughly 90% of operations. Employee costs are the largest cost line at 12.8% of revenue, with depreciation at 4.1% and other operating expenses at 4.6%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail (98%), Diagnostic services (2%), Others (0%). Labour-intensive, scale-driven pharmacy retail with an asset-light franchisee model and a small diagnostic services adjunct
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,779 | 4,558 | 5,625 | 6,136 | 6,892 |
| EBITDA (ex other income) | 272 | 266 | 354 | 487 | 607 |
| margin % | 7.2 | 5.8 | 6.3 | 7.9 | 8.8 |
| Owners' profit | 96 | 50 | 65 | 150 | 220 |
| EPS, as reported (₹) | 8.55 | 4.17 | 5.48 | 12.57 | 18.33 |
| ROE % · ROCE % | 6.7 · 9.1 | 3.4 · 5.6 | 4.2 · 6.9 | 8.6 · 10.3 | 11.1 · 12.2 |
| Debt / equity (x) | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 170 | 90 | 144 | 540 | 496 |
| Capex | (118) | (169) | (84) | (59) | (123) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,576 | 1,561 | 1,510 | 1,543 | 1,679 | 1,806 | 1,864 | 1,880 |
| Profit before tax | 48 | 57 | 61 | 53 | 69 | 73 | 80 | 42 |
| Net profit | 39 | 46 | 51 | 42 | 56 | 58 | 64 | 33 |
| EPS (₹) | 3.24 | 3.84 | 4.32 | 3.54 | 4.63 | 4.82 | 5.33 | 2.76 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Retail | 1,829 | 26.5 |
| Diagnostic services | 35 | 0.5 |
| Others | 1 | 0.0 |
| a. Retail | 4,931 | 71.5 |
| b. Diagnostics Services | 96 | 1.4 |
| c. Others | 1 | 0.0 |
| Total, before eliminations | 6,892 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Board comments on SEBI fine for director appointment non-compliance | regulatory legal | high | — | — |
| 10 Sept 2026 · MedPlus to acquire remaining 0.01% stake in Optival, making it wholly owned subsidiary | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · Promoter Agilemed pledges 5 lakh more Medplus Health shares | ownership changes | high | — | — |
| 26 Aug 2026 · Promoter Agilemed pledges 5 lakh more shares to restore security cover | ownership changes | high | — | — |
| 21 Aug 2026 · SAST disclosure filed by Catalyst Trusteeship Ltd under Reg 29(1) | ownership changes | medium | — | — |
| 21 Aug 2026 · ICICI Prudential MF raises stake in Medplus to 7.18% | ownership changes | high | — | — |
| 18 Aug 2026 · MedPlus AGM 2026: All 6 resolutions approved by shareholders | compliance | minimal | — | — |
| 17 Aug 2026 · 20th AGM held, six resolutions passed including MD re-appointment | board shareholder meetings | medium | — | — |
| 6 Aug 2026 · Subsidiary gets 3 drug license suspension orders in Karnataka | general | low | — | — |
| 6 Aug 2026 · Subsidiary faces 3 one-day drug license suspensions in Karnataka stores | business updates | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| MEDPLUS HEALTH SERV LTD ◆ |
| 7,934 |
| 37.6 |
| 4.02 |
| 11.4 |
| 11.1 |
| 8.5 |
| — |
| 8.1 |
| ENTERO HEALTHCARE SOLU L | 7,864 | 62.7 | 4.49 | 29.9 | 8.3 | 8.9 | — | 5.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 37.6 | 20.4 | 41 of 56 | 27% |
| P/B | 4.0 | 3.0 | 28 of 50 | 45% |
| ROCE | 8.5 | 5.4 | 27 of 64 | 59% |
| ROE | 11.1 | 6.6 | 18 of 51 | 66% |
| Debt / Equity | 0.0 | 0.1 | 3 of 52 | 65% |
| EBITDA margin | 8.1 | 9.4 | 28 of 50 | 45% |
| Revenue growth | 21.8 | 16.2 | 21 of 51 | 60% |
| Profit growth | (21.7) | 26.5 | 38 of 46 | 18% |
| Market cap | 7934 | 469 | 18 of 66 | 74% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
