Medplus Health Services Ltd. · NSE:MEDPLUS
Medplus Health Services — Q3 FY2025 Earnings Presentation
27 slides from Medplus Health Services's earnings presentation, Jan 31, 2025
Slide 1: Exchange filing cover letter for earnings call presentation
MedPlus Health Services Limited January 31, 2025 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: MedPlus Health Services Limited Q3 FY2025 Investor Presentation
MEDPLUS HEALTH SERVICES LIMITED Q3 FY2025 INVESTOR PRESENTATION January 2025
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 4,600+ 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 FY2025 Highlights (1/2)
Results Update Q3 FY2025 Highlights (1/2) ₹ 15,614m Revenue ₹ 3,909m Gross Margin • ₹ 1,200m increase over Q3FY24 8.3% • 25.0% GM%, increased by 130 bps yoy qoq and increased by 290 bps yoy • ₹ 147m decrease over Q2FY25 0.9% qoq • 5.2% increase in private label over Q3FY24 60 Store Net Additions Sto
Slide 6: Q3 FY2025 Highlights (2/2)
Results Update Q3 FY2025 Highlights (2/2) Revenue, ₹m Gross Margin Operating EBITDA EBITDA, ₹m 1,450 25.0% 5.1% 1,360 15,762 15,614 4.7% Consolidated 14,905 14,888 799 1,163 14,415 23.7% 3.9% 1,025 739 1,016 3.2% 581 22.6% 2.9% 22.1% 22.1% 466 435 15,460 15,325 1,431 24.0% 5.1% 1,338 14,653 14,629 4
Slide 7: 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 8: Cluster Based Network Enables Profitable Omni-Channel Service
Cluster Based Network Enables Profitable Omni-Channel Service Overview Stores As On Dec-24 Strong Cluster Based Network Strong network of 4,612 stores across Metros, Tier-One, Tier-Two and beyond. 4,612 stores 2- hour delivery Ability to service 100% market – acute + chronic Online only players cann
Slide 9: Scale Allows A Large Private Label Basket: 1200+ SKUs
Scale Allows A Large Private Label Basket: 1200+ SKUs Overview Pharma Over 800 products covering Chronic, Acute, OTC & Other Pharmaceutical products Non-Pharma Over 400 products covering, packaged food, baked goods, dry goods, cleaning products, cosmetics and toiletries Q3FY25 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 379 Stores Added In Last 12 Months As On Dec-23 As On Mar-24 As On Dec-24 Presence 4,233 4,407 4,612 We are present in stores stores stores 13 states and 1 union territory. 1 The key urban 1 centers are: 529 584 640 Bangalore, 10 14 16 Chennai, 7 20 34 153 160 170 Hyderabad, 555 556 5
Slide 12: Stores Added In Last Quarter
Results Update 60 Stores Added In Last Quarter Q3 FY25 Openings Q3 FY25 Closures Q3 FY25 Closure Reasons We opened 87 3.5 87 27 stores in Q3FY25. stores stores There were 27 8 closures 6.3 1 16 2 18 1 1 3 4 1 8 1 2 2 2.7 12 5 11 2 10 9 Relocation Franchisee withdrawn 15 2 4 3 Others Powered by Bing
Slide 13: Store Network: 27% Less Than 2 Years Old
Results Update Store Network: 27% Less Than 2 Years Old Pharmacy: Count Pharmacy: Age Structure of Stores1 Stores 4.233 4,407 4,444 4,552 4,612 13% 12% 11% 18% 15% Openings 108 60 174 37 4,500 Maintaining 144 16% 18% steady store 4,000 23% 26% openings 27% 3,500 3,000 2,500 4,407 4,444 4,552 2,000 4
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 12.9% 11.0% 61.7% 11.7% 10.3% 10.2% 58.1% 9.6% 9.3% 52.5% 52.2% 9.8% 46.1% 6.8% 4.4% Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q3FY24 Q4F
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 2.9% 3.6% 3.5% 3.7% 3.1% Product mix 6.3% 6.7% 6.7% 12% 12% 12% 12% 13% 7.9% 8.3% Trend of 8.1% 8.5% 9.1% increasing share 10.5% 11.3% from Private 11.8% 11.4% 11.2% 23%
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 880 875 8.0% 100% 870 Hubs 619 620 632 630 638 Home Delivery Omni-Channel 7.0% Our online 860 80% presence grows 6.0% 2,867 on the back of 2,709 2,591 our rapid stor
Slide 17: Income Statement
Results Update Income Statement Snapshot of Income Statement, ₹m Q3FY25 vs. Q3FY25 vs. 9m FY25 vs. Q3FY24 Q2FY25 Q3FY25 9m FY24 9m FY25 Q3FY24 (yoy) Q2FY25(qoq) 9m FY24 (yoy) Revenue 14,414.7 15,761.7 15,614.5 8.3% -0.9% 41,343.6 46,264.4 11.9% Gross Margin 3,187.3 3,743.0 3,908.6 22.6% 4.4% 8,966.3
Slide 18: Income Statement: Business Segments
Results Update Income Statement: Business Segments Snapshot of Income Statement, ₹m Q2FY25 Q3FY25 Pharmacy Pharmacy Diagnostic Others Total Diagnostic Others Total Retail Retail Revenue 15,459.8 283.1 18.8 15,761.7 15,325.4 274.7 14.4 15,614.5 COGS and Expenses 14,743.1 262.1 17.8 15,023.0 14,545.6
Slide 19: Income Statement: Ind AS Adjustments
Results Update Income Statement: Ind AS Adjustments Snapshot of Income Statement: Ind AS Adjustments, ₹m Q2FY25 Q3FY25 Reported Ind AS Impact Ind AS Adjusted Reported Ind AS Impact Ind AS Adjusted Revenue 15,761.7 - 15,761.7 15,614.5 - 15,614.5 Gross Margin 3,743.0 - 3,743.0 3,908.6 - 3,908.6 Gross
Slide 20: Operating EBITDA Deep Dive
Results Update Operating EBITDA Deep Dive Operating EBITDA Bridge: From 12+ Months Stores to Consolidated, ₹m 815 22 799 -13 780 -3 -22 Operating 12+ Months < 12 Months Pre-Operative Pharmacy Diagnostics Others Consolidated EBITDA Stores Stores Q3FY25 18
Slide 21: Balance Sheet
Results Update Balance Sheet Key Balance Sheet items, ₹m Dec-23 Mar-24 Sep-24 Dec-24 Assets PPE and CWIP 3,172.0 3,240.4 3,082.7 3,039.5 Inventories 13,171.9 13,402.3 13,407.1 12,930.2 Cash 1,985.9 1,701.8 3,041.7 4,030.3 Liabilities Trade payables 3,005.5 2,530.4 3,056.5 2,827.1 1. Cash includes ca
Slide 22: Capital Productivity
Results Update Capital Productivity Working Capital Cycle, days ROCE2: Operating EBIT/ Avg. Capital Employed NWC (days) 66 68 69 61 61 18.7% 15.4% 49 Year 1 Stores 48 46 88 days inventory 41 40 11.7% (on Year 1 stores revenue) 40 38 38 8.9% 36 33 6.9% Stores Older Than 12 months 21 40 days inventory
Slide 23: Cash Management
Results Update Cash Management Cash Management, Q3FY25, ₹m 4,000 Operating Cash Flow 3,500 ₹ 1,604m 3,000 Free Cash Flow ₹ 898m 2,500 2,000 286 1,500 1,447 -129 -130 91 989 1,000 -577 500 0 PBT+ Decrease Taxes Capex Payment Interest Increase D&A+ Int. in Working of lease received in cash of Lease Ca
Slide 24: Appendix
Appendix A. The Board of Directors and Key Managerial Personnel B. Glossary 22
Slide 25: The Board of Directors and Key Managerial Personnel
A. 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 Mr. Thyagarajan Muralidharan Chairman, Managing Director Whole Time Director Non-Executive Non-Executive Non-Executiv
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 Twenty-N
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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