Operates a generic-medicine retail pharmacy chain primarily under the Davaindia brand, with 2,579 stores across 23 states at end of FY26, after adding 997 new stores during the year (804 COCO + 193 FOFO). Davaindia contributed 77% of consolidated revenue in FY26. The chain runs two store formats: Company Owned Company Operated (COCO) and Franchise Owned Franchise Operated (FOFO). COCO gross margins exceed 70% and overall gross margin reached 60.28% in FY26. The network expanded further to 2,825 stores by end of Q1FY27 (1,855 COCO + 970 FOFO). Same-store growth has been 35-40% for stores aged 24+ months and 55-60% for stores aged 12-24 months. Through subsidiaries, additional retail pharmacy formats are being developed: Ugo Generic (KMHP Ventures, targeting B2B and B2C models) and SKIA (Curexis Ventures). Management has guided to 500-700 new Davaindia stores in FY27, with a long-term target of 5,000+ stores by FY29. Employee cost is the largest expense at 33.1% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Davaindia retail pharmacy chain (77%), Other / legacy pharma and subsidiary operations (23%). Rapidly expanding, retail pharmacy chain focused on generic medicines, running both company-operated and franchise store models.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 131 | 140 | 180 | 293 | 539 |
| EBITDA (ex other income) | 15 | 8 | 8 | (6) | 13 |
| margin % | 11.3 | 5.6 | 4.2 | (2.0) | 2.3 |
| Owners' profit | 9 | (6) | (14) | (56) | (74) |
| EPS, as reported (₹) | 3.58 | (2.29) | (5.59) | (20.68) | (22.46) |
| ROE % · ROCE % | — · — | (7.2) · (1.8) | (15.9) · (7.4) | (25.0) · (13.8) | (10.6) · (7.0) |
| Debt / equity (x) | — | 0.11 | 0.16 | 0.02 | 0.04 |
| Cash from operations | 13 | (2) | (6) | (50) | (84) |
| Capex | (3) | (12) | 0 | 0 | 0 |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 67 | 72 | 97 | 104 | 129 | 143 | 163 | 174 |
| Profit before tax | (13) | (18) | (14) | (13) | (14) | (26) | (26) | (44) |
| Net profit | (12) | (19) | (13) | (14) | (16) | (30) | (14) | (44) |
| EPS (₹) | (4.57) | (6.80) | (4.57) | (4.92) | (5.26) | (9.44) | (4.13) | (12.58) |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 6 Sept 2026 · Newspaper ad published for 26th AGM and final dividend notice | compliance | minimal | — | — |
| 4 Sept 2026 · Zota Health Care publishes public notice for 26th AGM | compliance | minimal | — | — |
| 3 Sept 2026 · AGM notice on Sep 28; 10 percent final dividend; new independent director appointed | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Record date set for Final Dividend and 26th AGM on 21-Sep-2026 | corporate actions | high | — | — |
| 3 Sept 2026 · Zota Health Care appoints new Independent Director, fixes AGM and dividend | management changes | medium | — | — |
| 3 Sept 2026 · Board approves Director's Report, 10% dividend, 26th AGM on Sept 28, 2026 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Q1 FY27 Earnings Transcript: Revenue Up 67.6%, 2,825 Davaindia Stores | investor communications | medium | — | — |
| 13 Aug 2026 · Zota Health Care Q1FY27 Investor Presentation | investor communications | medium | — | — |
| 13 Aug 2026 · No deviation reported in use of qualified placement proceeds | compliance | minimal | — | — |
| 13 Aug 2026 · Zota Health Care Q1FY27 Revenue Up 67.59%, EBITDA Turns Negative | compliance | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 18.0 |
| 12.4 |
| 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 5.4 | 3.3 | 122 of 163 | 25% |
| ROCE | (8.9) | 10.8 | 166 of 183 | 9% |
| ROE | (10.6) | 10.4 | 162 of 171 | 5% |
| Debt / Equity | 0.0 | 0.1 | 67 of 171 | 61% |
| EBITDA margin | (5.5) | 17.5 | 158 of 165 | 4% |
| Revenue growth | 67.6 | 16.3 | 15 of 161 | 91% |
| Profit growth | (218.9) | 30.9 | 149 of 158 | 6% |
| Market cap | 3765 | 839 | 66 of 182 | 64% |
| A state: the latest filed quarter and the measured reactions |
| 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.
