MedPlus Health Services Limited

NSE: MEDPLUS · Pharmacy Retail

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52W Range₹566 – ₹1,022

Snapshot

Unlock MedPlus Health Services Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

MedPlus Health Services Limited is a prominent Indian pharmacy retailer offering pharmaceutical products, wellness items, and fast-moving consumer goods. The company operates through an extensive network of physical retail stores, an online platform, and provides wholesale and diagnostic laboratory services.

Business Model

The company generates revenue through the retail sale of medicines and consumer goods, wholesale distribution, and the provision of pathological laboratory testing services. It leverages a hybrid model combining physical store footprints with digital e-commerce capabilities.

  • Store Count (as of March 2021):1,659

Growth Outlook

Growth is driven by the expansion of the retail store network and the scaling of its online pharmacy platform. The company continues to diversify its service offerings through private label manufacturing and diagnostic testing.

Key Risks

  • Regulatory Compliance. The pharmaceutical retail sector is subject to stringent government regulations regarding drug pricing and licensing.
  • Intense Competition. The company faces significant competition from both traditional local pharmacies and rapidly growing e-pharmacy aggregators.
  • Supply Chain Dependencies. Operational efficiency relies on maintaining a robust supply chain for pharmaceutical procurement and inventory management.
  • Geographic Concentration. A significant portion of the store network is concentrated in specific southern Indian states, creating regional dependency.

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Key Metrics

REVENUE

₹7,587 Cr

TTM · consolidated

+20.6%YoY

NET PROFIT

₹211 Cr

TTM · consolidated

+8.2%YoY

EPS

₹17.64

TTM · consolidated

+8.0%YoY

RETURN ON EQUITY

10.8%

TTM · consolidated

+0.2 ppYoY

RETURN ON CAPITAL EMPLOYED

12.6%

TTM · consolidated

+0.6 ppYoY

P/E

33.8×

Q2 FY27 · consolidated

33.8 vs 220.9x5Y avg

EV/EBITDA

9.9x

Q2 FY27 · consolidated

9.9 vs 90.4x5Y avg

EBITDA MARGIN

9.4%

TTM · consolidated

-0.3 ppYoY

NET PROFIT MARGIN

2.8%

Q2 FY27 · consolidated

-0.5 ppYoY

DEBT TO EQUITY

0.0x

Q2 FY27 · consolidated

+0.00xYoY

Peers · Pharmacy Retail

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
MedPlus Health Services LimitedMEDPLUS
₹7,166 Cr33.8×9.8820.6%9.4%10.8%12.6%-21.8%
Entero Healthcare Solutions LimitedENTERO
₹6,839 Cr54.5×22.0531.9%4.6%9.8%14.2%+42.2%
Health X Platform LimitedSASTASUNDR
₹913 Cr-44.5×—28.8%-1.4%-4.0%-21.6%-2.9%

As of Q2 FY27

Financials