Medplus Health Services Ltd. · NSE:MEDPLUS
Medplus Health Services — Q2 FY2025 Earnings Presentation
28 slides from Medplus Health Services's earnings presentation, Nov 12, 2024
Slide 1: Exchange filing cover letter for earnings call presentation
MedPlus Health Services Limited November 12, 2024 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: 5434
Slide 2: MedPlus Health Services Limited Q2 FY2025 Investor Presentation
MEDPLUS HEALTH SERVICES LIMITED Q2 FY2025 INVESTOR PRESENTATION November 2024
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 18 years with network of 4,500+ Stores Spread across 12 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: Q2 FY2025 Highlights (1/2)
Results Update Q2 FY2025 Highlights (1/2) ₹ 15,762m Revenue ₹ 3,743m Gross Margin • ₹ 1,676m increase over Q2FY24 • 23.7% GM%, increased by 160 bps 11.9% yoy qoq and increased by 210 bps yoy • ₹ 873m increase over Q1FY25 5.9% qoq • 2.5% increase in private label over Q1FY24 108 Store Net Additions S
Slide 6: Q2 FY2025 Highlights (2/2)
Results Update Q2 FY2025 Highlights (2/2) Revenue, ₹m Gross Margin Operating EBITDA EBITDA, ₹m 23.7% 15,762 1,360 4.7% Consolidated 14,905 14,888 1,163 14,415 22.6% 3.9% 1,025 14,086 739 1,016 955 22.1% 22.1% 3.2% 581 2.9% 2.9% 21.6% 466 410 435 15,460 22.7% 1,338 14,653 4.6% 14,629 1,175 14,203 4.0
Slide 7: H1 FY2025 Highlights
Results Update H1 FY2025 Highlights ₹ 30,650m Revenue ₹ 7,036m Gross Margin • ₹ 3,721m increase over H1FY24 • 23.0% GM%, increased by 150 bps 13.8% yoy yoy • 3.5% increase in private label over H1FY24 145 Store Net Additions Stores > 12 months • 198 gross additions • 9.2% revenue growth over H1FY24
Slide 8: Pharmacy Retail is Most Attractive Segment of Indian Retail
Pharmacy Retail is Most Attractive Segment of Indian Retail Overview High Growth Profile Amongst Various Indian Growth Rate To Continue in Foreseeable Highly Replicable Model Retail Formats Future on Back of High Unorganized Salience Given Best in Class Return Metrics Avg Revenue per Sq.ft p.a (INR
Slide 9: Cluster Based Network Enables Profitable Omni-Channel Service
Cluster Based Network Enables Profitable Omni-Channel Service Overview Stores As On Sep-24 Strong Cluster Based Network Strong network of 4,552 stores across Metros, Tier-One, Tier-Two and beyond. 4,552 stores 2- hour delivery Ability to service 100% market – acute + chronic Online only players cann
Slide 10: Scale Allows A Large Private Label Basket: 1100+ SKUs
Scale Allows A Large Private Label Basket: 1100+ SKUs Overview Pharma Over 787products covering Chronic, Acute, OTC & Other Pharmaceutical products Non-Pharma Over 374 products covering, packaged food, baked goods, dry goods, cleaning products, cosmetics and toiletries Q2FY25 8
Slide 11: Poised for Growth
Poised for Growth Overview Key Pillars Of Growth MedPlus has an established base of operations in 12 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 develop new clusters by Tie
Slide 12: Stores Added In Last 12 Months
Results Update 463 Stores Added In Last 12 Months As On Sep-23 As On Mar-24 As On Sep-24 Presence 4,089 4,407 4,552 We are present in stores stores stores 12 states and 1 union territory. The key urban centers are: Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, Nagpur, Pune, Visakhapatnam We are pr
Slide 13: Stores Added In Last Quarter
Results Update 108 Stores Added In Last Quarter Q2 FY25 Openings Q2 FY25 Closures Q2 FY25 Closure Reasons We opened 132 4.9 132 24 stores in Q2FY25. stores stores There were 24 closures 9 6.9 14 1 2.6 Relocation Franchisee withdrawn/ Converted to Franchisee Others 1. Color index for pie-chart as bel
Slide 14: Store Network: 30% Less Than 2 Years Old
Results Update Store Network: 30% Less Than 2 Years Old Pharmacy: Count Pharmacy: Age Structure of Stores1 Stores 4.089 4,233 4,407 4,444 4,552 15% 13% 12% 108 21% 18% Openings 4,500 174 37 144 114 Maintaining 4,000 18% steady store 23% 26% openings 3,500 27% 26% 3,000 2,500 4,407 4,552 4,089 4,233
Slide 15: 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 10.3% 10.2% 58.1% 15.7% 9.6% 9.3% 9.0% 50.6% 52.5% 52.2% 12.9% 46.1% 11.7% 9.8% 6.8% Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q2FY24 Q3F
Slide 16: 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 2.7% 2.9% 3.6% 3.5% 3.7% Product mix 6.1% 6.3% 6.7% 6.7% 11% 12% 12% 12% 12% 7.9% Trend of 7.9% 8.1% 8.5% 9.1% increasing share 10.5% 10.9% 11.8% 23% 23% 23% 23% 23% fro
Slide 17: Omni-channel: Profitable With Negligible Acquisition Costs
Results Update Omni-channel: Profitable With Negligible Acquisition Costs Channel Revenue Channel Delivery Pincodes1 and Delivery Hubs 900 8.0% 100% Hubs 616 619 620 632 630 Home Delivery Omni-Channel 880 875 7.0% Our online 2,709 80% 2,591 presence grows 860 6.0% 2,419 2,461 2,508 on the back of ou
Slide 18: Income Statement
Results Update Income Statement Snapshot of Income Statement, ₹m Q2FY25 vs. Q2FY25 vs. 6m FY25 vs. Q2FY24 Q1FY25 Q2FY25 6m FY24 6m FY25 Q2FY24 (yoy) Q1FY25(qoq) 6m FY24 (yoy) Revenue 14,085.9 14,888.3 15,761.7 11.9% 5.9% 26,928.9 30,650.0 13.8% Gross Margin 3,044.9 3,292.6 3,743.0 22.9% 13.7% 5,778.
Slide 19: Income Statement: Business Segments
Results Update Income Statement: Business Segments Snapshot of Income Statement, ₹m Q1FY25 Q2FY25 Pharmacy Pharmacy Diagnostic Others Total Diagnostic Others Total Retail Retail Revenue 14,629.0 242.4 16.8 14,888.2 15,459.8 283.1 18.8 15,761.7 COGs and Expenses 14,197.0 239.1 17.6 14,453.7 14,743.1
Slide 20: Income Statement: Ind AS Adjustments
Results Update Income Statement: Ind AS Adjustments Snapshot of Income Statement: Ind AS Adjustments, ₹m Q1FY25 Q2FY25 Reported Ind AS Impact Ind AS Adjusted Reported Ind AS Impact Ind AS Adjusted Revenue 14,888.3 - 14,888.3 15,761.7 - 15,761.7 Gross Margin 3,292.6 - 3,292.6 3,743.0 - 3,743.0 Gross
Slide 21: Operating EBITDA Deep Dive
Results Update Operating EBITDA Deep Dive Operating EBITDA Bridge: From 12+ Months Stores to Consolidated, ₹m Operating EBITDA Q2FY25 19
Slide 22: Balance Sheet
Results Update Balance Sheet Key Balance Sheet items, ₹m Sep-23 Mar-24 Jun-24 Sep-24 Assets PPE and CWIP 3,153.1 3,240.4 3,122.9 3,082.7 Inventories 12,749.2 13,402.3 14,480.6 13,407.1 Cash 2,189.0 1,701.8 1,592.5 3,041.7 Liabilities Trade payables 2,997.3 2,530.4 3,376.0 3,056.5 1. Cash includes ca
Slide 23: Capital Productivity
Results Update Capital Productivity Working Capital Cycle, days ROCE2: Operating EBIT/ Avg. Capital Employed NWC (days) 64 66 68 69 61 15.4% Year 1 Stores 49 48 46 11.7% 46 95 days inventory 41 (on Year 1 stores revenue) 40 8.9% 37 38 7.7% 38 33 6.9% Stores Older Than 12 months 20 21 40 days invento
Slide 24: Cash Management
Results Update Cash Management Cash Management, Q2FY25, ₹m Operating Cash Flow ₹ 2,141m Free Cash Flow ₹ 1,425m PBT+ Decrease Taxes Capex Payment Interest Increase D&A+ Int. in Working of lease received in cash of Lease Capital liabilities & others and cash Liability1 equiv.3 + Others2 1. Computed a
Slide 25: Appendix
Appendix A. Board and key management B. Glossary 23
Slide 26: The Board of Directors and Key Managerial Personnel
The Board of Directors and Key Managerial Personnel Appendix Mr. Gangadi Madhukar Reddy Dr. Cherukupalli Bhaskar Reddy Mr. Murali Sivaraman Ms. Aparna Surabhi Mr. Madhavan Ganesan Chairman, Managing Director Whole Time Director Non-Executive Non-Executive Non-Executive and Chief Executive Officer an
Slide 27: 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 Twenty-N
Slide 28: MedPlus Health Services Limited
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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