Medplus Health Services Ltd. · NSE:MEDPLUS
Medplus Health Services — Q3 FY2026 Earnings Presentation
26 slides from Medplus Health Services's earnings presentation, Jan 30, 2026
Slide 1: Exchange filing cover letter for earnings call presentation
MedPlus Health Services Limited January 30, 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: 54342
Slide 2: Q3 FY2026 Investor Presentation
MEDPLUS HEALTH SERVICES LIMITED Q3 FY2026 INVESTOR PRESENTATION January 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 19 years with network of 5,100+ 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: Q3 FY2026 Highlights (1/2)
Results Update Q3 FY2026 Highlights (1/2) ₹ 18,061m Revenue ₹ 4,724m Gross Margin • ₹ 2,447m increase over Q3FY25 • 26.2% GM%, increased by 110 bps 15.7% yoy yoy • ₹ 1,268m increase over Q2FY26 7.5% qoq • 2.6% increase in private label over Q3FY25 182 Store Net Additions Stores > 12 months • 228 gro
Slide 6: Q3 FY2026 Highlights (2/2)
Results Update Q3 FY2026 Highlights (2/2) Revenue, ₹m Gross Margin Operating EBITDA EBITDA, ₹m 5.3% 5.3% 5.4% 1,769 26.6% 5.1% 1,663 18,061 1,522 4.7% Consolidated 26.1% 26.1% 26.2% 1,450 1,457 16,793 15,614 15,426 15,096 25.0% 968 887 799 803 728 5.2% 1,688 17,715 25.5% 25.0% 25.0% 25.1% 5.1% 5.2%
Slide 7: Cluster Based Network Enables Profitable Omni-Channel Service
Cluster Based Network Enables Profitable Omni-Channel Service Overview Stores As On December-25 Strong Cluster Based Network Strong network of 5,112 stores across Metros, Tier-One, Tier-Two and beyond. 5,112 stores 2- hour delivery Ability to service 100% market – acute + chronic Online only players
Slide 8: Scale Allows A Large Private Label Basket: 1500+ SKUs
Scale Allows A Large Private Label Basket: 1500+ SKUs Overview Pharma Over 850 products covering Chronic, Acute, OTC & Other Pharmaceutical products Non-Pharma Over 650 products covering, packaged food, baked goods, dry goods, cleaning products, cosmetics and toiletries Q3FY26 6
Slide 9: 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 10: Stores Added In Last 12 Months
Results Update 500 Stores Added In Last 12 Months As On Dec-24 As On Mar-25 As On Dec-25 Presence 4,612 4,712 5,112 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, 16 640 19 665 38 714 Chennai, 39 44 34 Hyderabad, 549 170 559
Slide 11: Stores Added In Last Quarter
Results Update 182 Stores Added In Last Quarter Q3 FY26 Openings Q3 FY26 Closures Q3 FY26 Closure Reasons 4.0 We opened 228 228 46 stores in Q3FY26. stores stores 6.6 There were 46 closures 17 19 6 23 1 3 4 8 1 30 10 10 48 12 1.6 41 5 19 5 Relocation Franchisee withdrawn 46 8 4 Others Powered by Bin
Slide 12: Store Network: 23% Less Than 2 Years Old
Results Update Store Network: 23% Less Than 2 Years Old Pharmacy: Count Pharmacy: Age Structure of Stores1 Stores 4.612 4,712 4,813 4,930 5,112 8% 11% 9% 11% 182 14% 117 Openings 5,000 60 100 101 14% 12% 11% 16% 9% Maintaining 4,500 steady store 4,000 openings 3,500 3,000 2,500 4,813 4,930 4,552 4,6
Slide 13: 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 10.5% 12.4% 77.7% 11.5% 11.8% 11.0% 10.9% 68.6% 61.7% 59.2% 59.8% 4.4% 2.2% -0.2% -0.9% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25
Slide 14: 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 3.1% 3.4% 3.9% 4.9% 5.7% Product mix 13% 13% 13% 14% 14% 8.3% 9.7% 8.7% 9.6% 10.6% Trend of increasing share 11.3% 12.8% 13.6% 12.1% 11.6% from Private 24% 24% 24% 24% 2
Slide 15: Omni-channel: Profitable With Negligible Acquisition Costs
Results Update Omni-channel: Profitable With Negligible Acquisition Costs Channel Revenue Channel Delivery Pincodes1 and Delivery Hubs 920 8.0% 100% Hubs 636 598 637 690 699 Home Delivery Omni-Channel 904 7.0% Our online 900 80% 3,043 3,021 presence grows 6.0% 2,867 2,858 2,935 882 on the back of ou
Slide 16: Income Statement
Results Update Income Statement Snapshot of Income Statement, ₹m Q3FY26 vs. Q3FY26 vs. 9m FY26 vs. Q3FY25 Q2FY26 Q3FY26 9m FY25 9m FY26 Q3FY25 (yoy) Q2FY26(qoq) 9m FY25 (yoy) Revenue 15,614.5 16,793.3 18,061.2 15.7% 7.5% 46,264.4 50,280.8 8.7% Gross Margin 3,908.6 4,390.8 4,724.4 20.9% 7.6% 10,944.2
Slide 17: Income Statement: Business Segments
Results Update Income Statement: Business Segments Snapshot of Income Statement, ₹m Q2FY26 Q3FY26 Pharmacy Pharmacy Diagnostic Others Total Diagnostic Others Total Retail Retail Revenue 16,439.8 332.5 21.0 16,793.3 17,714.8 326.7 19.7 18,061.2 COGS and Expenses 15,600.6 281.6 24.6 15,906.8 16,789.8
Slide 18: Income Statement: Ind AS Adjustments
Results Update Income Statement: Ind AS Adjustments Snapshot of Income Statement: Ind AS Adjustments, ₹m Q2FY26 Q3FY26 Ind AS Ind AS Ind AS Ind AS Reported Reported Impact Adjusted Impact Adjusted Revenue 16,793.3 - 16,793.3 18,061.2 - 18,061.2 Gross Margin 4,390.8 - 4,390.8 4,724.4 - 4,724.4 Gross
Slide 19: Operating EBITDA Deep Dive
Results Update Operating EBITDA Deep Dive Operating EBITDA Bridge: From 12+ Months Stores to Consolidated, ₹m 51 967 968 -4 -8 925 -37 Operating 12+ Months < 12 Months Pre-Operative Pharmacy Diagnostics Others Consolidated EBITDA Stores Stores* * Includes all Franchisee stores Q3FY26 17
Slide 20: Balance Sheet
Results Update Balance Sheet Key Balance Sheet items, ₹m Dec-24 Mar-25 Sep-25 Dec-25 Assets PPE and CWIP 3,039.5 3,038.5 3,078.5 3,200.3 Inventories 12,930.2 13,451.0 12,807.4 13,413.0 Cash 4,030.3 4,422.6 6,085.0 6,080.2 Liabilities Trade payables 2,827.1 2,989.6 3,393.4 3,411.8 1. Cash includes ca
Slide 21: Capital Productivity
Results Update Capital Productivity Working Capital Cycle, days ROCE2: Operating EBIT/ Avg. Capital Employed NWC (days) 61 63 59 53 53 24.2% 43 22.5% Year 1 Stores 40 39 37 18.7% 19.3% 103 days 35 17.0% inventory (on 36 36 37 Year 1 stores 33 34 revenue) Stores Older Than 12 months 18 19 17 17 17 35
Slide 22: Cash Management
Results Update Cash Management Cash Management, Q3FY26, ₹m 4,000 Operating Cash Flow 3,500 ₹ 905m 3,000 Free Cash Flow 2,500 ₹ -93m 2,000 1,810 1,500 1,000 -685 -220 500 -316 96 2 0 -682 -500 PBT+ Increase in Taxes Capex Payment Interest Increase D&A+ Int. Working of lease received in cash of Lease
Slide 23: Appendix
Appendix A. The Board of Directors and Key Managerial Personnel B. Glossary 21
Slide 24: 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 25: 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 o
Slide 26: MedPlus Health Services Limited contact details
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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