Medplus Health Services Ltd. · NSE:MEDPLUS
Medplus Health Services — Q4 FY2026 Earnings Presentation
27 slides from Medplus Health Services's earnings presentation, May 20, 2026
Slide 1: Covering letter to stock exchanges
MedPlus Health Services Limited May 20, 2026 The Listing Department The Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai – 400 051 BSE Scrip Code: 543427 NS
Slide 2: MedPlus Health Services Limited Q4 FY2026 Investor Presentation
MEDPLUS HEALTH SERVICES LIMITED Q4 FY2026 INVESTOR PRESENTATION May 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by MedPlus Health Services Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: The MedPlus Story
The MedPlus Story Overview Marked presence of 20 years with network of 5,300+ Stores Spread across 13 states and 1 union territory Cluster based expansion strategy: ‘Continue 2nd Largest Pharma Retailer in the country deeper penetration vs. with pioneer in omni channel Wider reach’ Well curated SKU’
Slide 5: FY2026 Highlights
Results Update FY2026 Highlights ₹ 68,925m Revenue ₹ 18,079m Gross Margin • ₹ 7,564m increase over FY25, 12.3% • 26.2% GM%, increased by 180 bps increase over FY25 • 2.6% increase in private label over FY25 618 Store Net Additions Stores > 12 months • 792 gross additions • 9.4% revenue growth over F
Slide 6: Q4 FY2026 Highlights (1/2)
Results Update Q4 FY2026 Highlights (1/2) ₹ 18,644m Revenue ₹ 4,934m Gross Margin • ₹ 3,548m increase over Q4FY25 • 26.5% GM%, decreased by 10 bps 23.5% yoy yoy, increased by 30 bps qoq • ₹ 583m increase over Q3FY26 3.2% qoq • 1.3% decrease in private label over Q4FY25 218 Store Net Additions Stores
Slide 7: Q4 FY2026 Highlights (2/2)
Results Update Q4 FY2026 Highlights (2/2) Revenue, ₹m Gross Margin Operating EBITDA EBITDA, ₹m 26.6% 26.5% 18,644 5.8% 18,061 26.1% 26.1% 26.2% 1,898 5.3% 5.4% 1,769 Consolidated 5.3% 16,793 1,663 4.7% 1,522 1,457 15,426 15,096 1,076 968 887 803 728 18,266 5.6% 1,803 17,715 25.5% 25.0% 25.0% 25.1% 2
Slide 8: Cluster Based Network Enables Profitable Omni-Channel Service
Cluster Based Network Enables Profitable Omni-Channel Service Overview Stores As On March-26 Strong Cluster Based Network Strong network of 5,330 stores across Metros, Tier-One, Tier-Two and beyond. 5,330 stores 2- hour delivery Ability to service 100% market – acute + chronic Online only players ca
Slide 9: Scale Allows A Large Private Label Basket: 1550+ SKUs
Scale Allows A Large Private Label Basket: 1550+ SKUs Overview Pharma Over 850 products covering Chronic, Acute, OTC & Other Pharmaceutical products Non-Pharma Over 700 products covering, packaged food, baked goods, dry goods, cleaning products, cosmetics and toiletries Q4FY26 7
Slide 10: Poised for Growth
Poised for Growth Overview Key Pillars Of Growth MedPlus has an established base of operations in 13 states and 1 union territory. Therefore, we will: Growth in existing clusters and • Further grow in cities where we have market leadership. Metro and Tier - One followed A by Tier - Two and beyond de
Slide 11: Stores Added In Last 12 Months
Results Update 618 Stores Added In Last 12 Months As On Mar-25 As On Dec-25 As On Mar-26 Presence 4,712 5,112 5,330 We are present in stores stores stores 13 states and 1 union territory. 1 1 1 The key urban 1 1 1 centers are: Bangalore, 19 665 38 714 43 753 Chennai, 44 39 47 Hyderabad, 559 174 607
Slide 12: Stores Added In Last Quarter
Results Update 218 Stores Added In Last Quarter Q4 FY26 Openings Q4 FY26 Closures Q4 FY26 Closure Reasons We opened 295 295 77 stores in Q4FY26. stores stores 5.3 18 There were 77 closures 46 13 5 5 44 1.8 4 1 2 1 26 23 4.3 78 20 49 3 19 8 Relocation Franchisee withdrawn 60 13 8 3 Others Powered by
Slide 13: Store Network: 24% Less Than 2 Years Old
Results Update Store Network: 24% Less Than 2 Years Old Pharmacy: Count Pharmacy: Age Structure of Stores1 Stores 4.712 4,813 4,930 5,112 5,330 8% 9% 11% 14% 17% 218 Openings 182 5,000 101 117 14% 12% 11% 100 9% Maintaining 7% steady store openings 4,000 3,000 4,930 5,112 4,612 4,712 4,813 78% 79% 7
Slide 14: Profitable Older Stores: 12+ Months
Results Update Profitable Older Stores: 12+ Months Store Level Revenue Growth1 Store Level EBITDA Margin Store Level Operating ROCE2,3 17.8% 80.0% 13.1% 77.7% 12.4% 11.5% 11.8% 68.6% 10.9% 59.2% 59.8% 10.5% 2.2% -0.9% -0.2% Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25
Slide 15: Revenue Mix: Increasing Share Of Private Label
Results Update Revenue Mix: Increasing Share Of Private Label Revenue Mix: By Product Category Revenue Mix3: By Location of Stores 3.4% 3.9% 4.9% 5.7% 6.3% Product mix 13% 13% 14% 14% 15% 9.7% 8.7% 9.6% 10.6% 10.6% Trend of increasing share 13.6% 12.8% 12.1% 11.6% 11.3% from Private 24% 24% 24% 24%
Slide 16: Omni-channel: Profitable With Negligible Acquisition Costs
Results Update Omni-channel: Profitable With Negligible Acquisition Costs Channel Revenue Channel Delivery Pincodes1 and Delivery Hubs 940 8.0% 100% Hubs 596 637 690 699 711 927 Home Delivery Omni-Channel 7.0% 920 Our online 80% 3,043 3,077 904 3,021 presence grows 6.0% 2,858 2,935 on the back of 90
Slide 17: Income Statement
Results Update Income Statement Snapshot of Income Statement, ₹m Q4FY26 vs. Q4FY26 vs. FY26 vs. Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 (yoy) Q3FY26(qoq) FY25 (yoy) Revenue 15,096.1 18,061.2 18,643.9 23.5% 3.2% 61,360.5 68,924.7 12.3% Gross Margin 4,009.7 4,724.4 4,934.4 23.1% 4.4% 14,953.9 18,078.6 2
Slide 18: Income Statement: Business Segments
Results Update Income Statement: Business Segments Snapshot of Income Statement, ₹m Q3FY26 Q4FY26 FY26 Pharmacy Pharmacy Pharmacy Diagnostic Others Total Diagnostic Others Total Diagnostic Others Total Retail Retail Retail Revenue 17,714.8 326.7 19.7 18,061.2 18,265.9 347.8 30.2 18,643.8 67,526.9 1,
Slide 19: Income Statement: Ind AS Adjustments
Results Update Income Statement: Ind AS Adjustments Snapshot of Income Statement: Ind AS Adjustments, ₹m Q3FY26 Q4FY26 FY26 Ind AS Ind AS Ind AS Ind AS Ind AS Ind AS Reported Reported Reported Impact Adjusted Impact Adjusted Impact Adjusted Revenue 18,061.2 - 18,061.2 18,643.9 - 18,643.9 68,924.7 -
Slide 20: Operating EBITDA Deep Dive
Results Update Operating EBITDA Deep Dive Operating EBITDA Bridge: From 12+ Months Stores to Consolidated, ₹m 1,133 -36 53 1 1,076 1,022 -76 Operating 12+ Months < 12 Months Pre-Operative Pharmacy Diagnostics Others Consolidated EBITDA Stores Stores* * Includes all Franchisee stores Q4FY26 18
Slide 21: Balance Sheet
Results Update Balance Sheet Key Balance Sheet items, ₹m Mar-25 Dec-25 Mar-26 Assets PPE and CWIP 3,038.5 3,200.3 3,503.4 Inventories 13,451.0 13,413.0 13,816.9 Cash 4,422.6 6,080.2 5,942.1 Liabilities Trade payables 2,989.6 3,411.8 3,069.5 1. Cash includes cash, bank balances and bank deposits Q4FY
Slide 22: Capital Productivity
Results Update Capital Productivity Working Capital Cycle, days ROCE2: Operating EBIT/ Avg. Capital Employed NWC (days) 63 59 53 53 53 26.3% 24.2% 22.5% 43 Year 1 Stores 39 37 36 19.3% 112 days 35 17.0% inventory (on 37 Year 1 stores 36 34 33 revenue) 30 Stores Older Than 12 months 18 19 17 17 36 da
Slide 23: Cash Management
Results Update Cash Management Cash Management, Q4FY26, ₹m 4,000 Operating Cash Flow 3,500 ₹ 917m 3,000 Free Cash Flow 2,500 ₹ -280m 2,000 1,839 1,500 1,000 -722 -199 500 -486 0 114 -712 -166 -500 PBT+ Increase in Taxes Capex Payment Interest Decrease D&A+ Int. Working of lease received in cash of L
Slide 24: Appendix
Appendix A. The Board of Directors and Key Managerial Personnel B. Glossary 22
Slide 25: The Board of Directors and Management Team
A. The Board of Directors and Management Team Appendix Mr. Gangadi Madhukar Reddy Dr. Cherukupalli Bhaskar Reddy Mr. Murali Sivaraman Ms. Aparna Surabhi Mr. Madhavan Ganesan Mr. Thyagarajan Muralidharan Chairman, Managing Director Whole Time Director Non-Executive Non-Executive Non-Executive Non-Exe
Slide 26: Glossary
B. Glossary Appendix Term Description Metro: Bengaluru, Chennai (and Avadi), Hyderabad, Kolkata (and Howrah), Mumbai (and Thane) City Categorization Tier One: Ahmednagar, Baramati, Kharagpur, Nagpur, Nashik, Panruti, Pune, Ranaghat, Vijayawada, Visakhapatnam (internal) Tier Two: Hundred and Thirty f
Slide 27: MedPlus Health Services Limited Contact
MEDPLUS HEALTH SERVICES LIMITED Manoj Kumar Srivastava Company Secretary & Compliance Officer manoj.srivastava@medplusindia.com cs@medplusindia.com Website: www.medplusindia.com INVESTOR RELATIONS Tanushree Chaurasia ir@medplusindia.com MEDIA AND PRESS ENQUIRIES marketing@medplusindia.com Reg. Offic
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