Entero Healthcare Solutions Limited · NSE:ENTERO
Entero Healthcare Solutions — Q4 FY26 Earnings Presentation
44 slides from Entero Healthcare Solutions's earnings presentation, May 2026
Slide 1: Entero Healthcare Solutions Limited Q4FY26 Investor Presentation
Everything in Pharma… Everywhere in India… Entero Healthcare Solutions Limited Q4FY26 Investor Presentation – May 2026
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Entero Healthcare Solutions Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 3: Q4 & FY26 Financial Highlights
Q4 & FY26 Financial Highlights
Slide 4: Management Commentary
Management Commentary FY26 marks a year of significant progress on our vision to build a scalable, comprehensive and integrated healthcare distribution platform. We also expanded beyond pharma and made meaningful strides in MedTech which broadens our addressable opportunity and strengthens our platf
Slide 5: We delivered on all parameters of our guidance
We delivered on all parameters of our guidance FY26 Guidance FY26 Performance Status Revenue growth 30% 31.5% LFL EBITDA Margin 4.0% 4.0% Operating Range of INR 96 Cr Cashflow INR 100 Cr Achieved 5
Slide 6: Achieved Operating cashflow of INR 96 Cr in FY26
Achieved Operating cashflow of INR 96 Cr in FY26 Particulars (Rs. Cr) FY26 FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 OCF levers Net Profit Before Tax 179.3 138.7 36.4 44.6 40.4 57.9 Improving EBITDA Margin profile Wage Code Impact 8.2 - - - 8.2 - Adjustments for: Non-Cash Items / Other 98.9 44.1 16.3 20.2 24
Slide 7: FY26 - Key Financial Highlights
FY26 - Key Financial Highlights › Revenue growth on LFL basis was 31.5% YoY. Organic revenue growth on LFL basis was 15.6% YoY. Like-for-Like growth includes impact of revenue recorded on net margin basis and divestment of a subsidiary › Reported revenue growth at 29.3% YoY. Organic revenue growth w
Slide 8: Q4FY26 - Key Financial Highlights
Q4FY26 - Key Financial Highlights › Revenue growth on LFL basis was 43.1% YoY. Organic revenue growth on LFL basis was 17.1% YoY › Reported revenue growth was 42.6% YoY. Organic revenue growth was 16.6% YoY and Inorganic growth was 26.0% › Gross margin improved by 109bps YoY to 10.9% › EBITDA Margin
Slide 9: Revenue Split
Revenue Split INR Cr +29.3% +42.6% 10.7% 6,591 13.4% 5.3% 26.0% 1,910 5,096 16.6% 1,339 F25 Revenue Organic growth Calendarization New acquisitions FY26 Revenue Q4YF25 Revenue Organic growth Calendarization New acquisitions Q4FY26 Revenue Particulars Q1FY26 Q2FY26 Q3FY26 Q4FY26 FY26 Organic Growth 1
Slide 10: Consolidated Financial Highlights
Consolidated Financial Highlights Revenue (Rs. Cr) Gross Profit (Rs. Cr) & Margin (%) EBITDA (Rs. Cr) & Margin (%) PAT (Rs. Cr) & Margin (%) +43% +59% +76% +44% 1,910 207 86 45 Quarter 1,339 31 131 49 10.9% 4.5% 9.8% 3.7% 2.3% 2.4% Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Revenue (Rs.
Slide 11: Key Balance Sheet Highlights
Key Balance Sheet Highlights Net Operating Working Capital (Days) RoCE (%) RoE (%) 66 64 18.4% 16.0% 59 14.8% 11.6% 10.4% 9.5% Quarter Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Net Operating Working Capital (Days) RoCE (%) RoE (%) 70 68 14.6% 12.5% 10.7% 7.7% Annual FY25 FY26 FY
Slide 12: FY26 Acquisitions Update
FY26 Acquisitions Update Sr. No. Acquisition Name Region Summary/Rationale Date of Announcement Completion Date Stake Acquired 1. Sai RK Pharma Pvt Ltd Delhi Specialty Pharma May-25 Jul-25 70% 2. Well Wisher Pharma Pvt Ltd Delhi Specialty Pharma May-25 Sep-25 70% 3. Ramson Medical Distributors Pvt L
Slide 13: FY27 Guidance
FY27 Guidance Operating Cashflow Revenue Growth EBITDA Margin To EBITDA Conversion Ratio 23.0% YoY 5.0% 50% Revenue growth doesn’t factor in new acquisitions 13
Slide 14: Entero's FY27 MedTech revenue expected to cross Rs. 1,000 Cr
Entero’s FY27 MedTech revenue expected to cross Rs. 1,000 Cr MedTech Industry Overview (USD bn) Strategic rationale for acquisitions in MedTech market 45-50 MedTech is large and a growing market Synergistic with Entero’s pharmaceutical distribution 13-13.5 Attractive and significant consolidation op
Slide 15: Operational Highlights
Operational Highlights Outperforming Customers Relationship with Market Growth SKU’s Handled (Retailers) healthcare product (FY26) manufacturers Entero: 15.6% FY26: 1,05,300+ FY26: 97,500+ FY26: 3,300+ IPM: 10.0% FY25: 95,300+ FY25: 80,600+ FY25: 2,700+ Customers Districts Covered Warehouses (Hospit
Slide 16: Growing faster than Industry… Gaining Market Share
Growing faster than Industry… Gaining Market Share IPM Entero Organic Growth Entero Consolidated Growth 43%* 38% 37% 35% 35% 31% 31% 29% 28% 28%* 22% 21% 19% 19% 19% 20% 16% 17% 17%* 17%* 15% 15% 14% 15%* 18% 17% 17% 13%* 16% 11%* 12% 12% 10% 15% 9% 9% 9% 9% 9% 7% 12% 8% 7% 7% 6% 7% 2% -2% Q1FY23 Q2
Slide 17: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR Cr) Q4FY26 Q3FY26 Q4FY25 YoY% FY26 FY25 YoY% Revenue 1,909.9 1,706.5 1,339.1 42.6% 6,591.2 5,095.8 29.3% Cost of Goods Sold 1,702.5 1,533.9 1,208.3 5,910.8 4,609.5 Gross Profit 207.4 172.6 130.8 58.6% 680.4 486.3 39.9% Gross Margin (%) 10.9% 10.1
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Cr) Mar-26 Mar-25 EQUITY AND LIABILITIES (Rs. Cr) Mar-26 Mar-25 ASSETS Equity Non-current assets Equity share capital 44 44 Property, plant and equipment 103 57 Other equity 1,645 1,681 Right of use assets 97 75 Non-controlling interests 64 46 Goodwill 749 424
Slide 19: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Cr) FY26 FY25 Net Profit Before Tax 179.3 138.7 Adjustments for: Non-Cash Items / Other Investment or Financial Items 107.1 44.1 Changes in working capital -136.5 -221.5 Direct taxes paid (net of refund) -53.8 -38.1 Net Cash from Operating Activities
Slide 20: About Us
About Us
Slide 21: We are a Healthcare Supply Chain Solutions Specialist
We are a Healthcare Supply Chain Solutions Specialist Amongst the top three healthcare products distributors in India in terms of revenue Our Warehouses Fastest scale-up of operations among healthcare products distributors in India with track record of 51 acquisitions Pan-India presence through our
Slide 22: Entero at a Glance
Entero at a Glance Geographical Reach of Distribution Network 1,05,300+ 3,600+ 3,300+ Customers Retail customers Hospital Supply relationships with catered to customers healthcare product manufacturers AMRITSAR PANCHKULA DEHRADUN KARNAL DELHI GHAZIABAD GURGAON NOIDA FARIDABAD JAIPUR GORAKHPUR LUCKNO
Slide 23: Building a Highly Scalable Business Model
Building a Highly Scalable Business Model Consolidated Revenue (Rs. Cr) Customers (Retailers) Customers (Hospitals) FY23 81,400+ FY23 3,400+ FY24 86,300+ FY24 3,500+ 6,591 FY25 95,300+ FY25 3,600+ FY26 105,300+ FY26 3,600+ Relationship with healthcare 5,096 SKU’s Handled product manufacturers +30% C
Slide 24: Board of Directors: Governance is our foundation for growth
Board of Directors : Governance is our foundation for growth Prabhat Agrawal Sujesh Vasudevan Rajesh Shashikant Dalal Sandhya Gadkari Sharma Promoter, Managing Director and Chairperson and Non-Executive Non-Executive Independent Non-Executive Independent CEO Independent Director Director Director Pr
Slide 25: Leadership Team
Leadership Team Prabhat Agrawal Prem Sethi Balakrishnan Natesan Kaushik Promoter, Managing Director and CEO Promoter, Whole-time Director and COO Group Chief Financial Officer ◼ Previous experience as CEO with Alkem Laboratories, ◼ Previous experience as Director – Offering Development and ◼ Previou
Slide 26: Leadership Team
Leadership Team Abhitesh Kumar Manish Kumar Sanjay Chakraborty Gaurav Kumar Sandip Dey Sanu Kapoor Chief Growth Officer President - Central SVP - Sales & Marketing, VP - Retail President - VP - General Counsel, Company Procurement & Partnership MedTech Business Pharma Business Institutional Business
Slide 27: Market Opportunity
Market Opportunity
Slide 28: Pharmaceutical Supply Chain in India is Highly Fragmented
Pharmaceutical Supply Chain in India is Highly Fragmented Player in Value Chain Typical Functions and Role No. of Players Typical Margin range Pharmaceutical and Healthcare Companies ~3,000 Products Manufacturer ▪ Manufacturing units supplying finished products 40 – 60% Man. Units 10,500 ▪ Marketer
Slide 29: Key Challenges in the Pharmaceutical Supply Chain
Key Challenges in the Pharmaceutical Supply Chain Pharmaceutical and Healthcare Products Manufacturer / High expiries due to multiple Complexity of dealing with Limited or no secondary sales No direct reach to retailers, Inadequate storage stock points and no data Marketer multiple sub-scale distrib
Slide 30: Healthcare Products Distribution Market Overview
Healthcare Products Distribution Market Overview Large and Growing Target Addressable Market… …Led by Increasing Share of Large / National Distributors Share of the total distributor sales for Large / National pharmaceutical distributors 20-30% CAGR $33.2bn 10-11% 25-30% 8-10% Target Addressable Mar
Slide 31: Key Strengths
Key Strengths
Slide 32: Key Strengths
Key Strengths We Operate in the Large and Highly Fragmented Indian Healthcare Products Distribution Market and Expect to Benefit from Market Consolidation We are One of India’s Largest and Fastest Growing Healthcare Products Distribution Platforms Track Record of Inorganic Expansion and Integration
Slide 33: Highly Fragmented Market… to Accelerate Consolidation
Highly Fragmented Market… to Accelerate Consolidation US China India(1) Germany Top 3: 90 – 95% Top 4: 40 – 45% Top 3: 8 – 10% Top 5: 95 – 97% Share of Large Players in the Pharma Distribution Top 3 Top 4 Top 3 Top 5 / All Share of Top x 2020 90 – 95% 40 – 45% 8 – 10% 95 – 97% in Total Pharma Distri
Slide 34: One of India's Largest & Fastest Growing Healthcare Supply Chain Company
One of India’s Largest & Fastest Growing Healthcare Supply Chain Company Geographical Reach of Distribution Network Distribution Presence 20 States 50/523 Cities/Districts AMRITSAR Customer Network PANCHKULA DEHRADUN KARNAL GHAZIABAD DELHI NOIDA Retail GURGAON Hospital JAIPUR FARIDABAD GORAKHPUR LUC
Slide 35: Successful track record of Acquisitions and Integration
Successful track record of Acquisitions and Integration Track Record of Growth of Acquired Companies Acquisition Strategy Distributor Name Date of Acquisition Location FY21-23 Growth R.S.M Pharma 14-Aug-2018 Bengaluru ~69% › Take advantage of market consolidation opportunities available Getwell Medi
Slide 36: Differentiated Business Model
Differentiated Business Model Offers both demand generation and demand fulfilment capabilities to healthcare brands and product manufacturers Demand Generation via Integrated Demand Fulfilment via end-to-end healthcare products distribution solutions Commercial Solutions Deploy Medical Representativ
Slide 37: Proprietary Technology Platform
Proprietary Technology Platform with Integrated Business Intelligence Tools and Solutions Technology-Focused Approach Anchored on Our Proprietary Integrated Tech …To Grow our Operations and Bring Efficiencies in the Healthcare Platforms and Business Intelligence Tools… Products Distribution Ecosyste
Slide 38: Key Growth Drivers
Key Growth Drivers Benefit from healthcare products distribution market consolidation with strategic acquisitions Strengthen market position through increases in customer base, wallet share and geographic penetration Pursue comprehensive marketing and distribution collaborations with healthcare prod
Slide 39: Historical Financials
Historical Financials
Slide 40: Historical Financial Highlights
Historical Financial Highlights Revenue (Rs. Cr) Gross Profit (Rs. Cr) and Margin (%) 8.3% 8.1% 9.0% 9.5% 10.3% 6,591 680 +27% +34% 5,096 486 3,922 3,300 352 2,522 268 210 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 EBITDA (Rs. Cr) and Margin (%) Net Operating Working Capital (Days)* 1.0% 1.9%
Slide 41: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR Cr) FY26 FY25 FY24 FY23 FY22 Revenue 6,591.2 5,095.8 3,922.3 3,300.2 2,522.1 Cost of Goods Sold 5,910.8 4,609.5 3,570.4 3,031.9 2,312.4 Gross Profit 680.4 486.3 352.0 268.3 209.6 Gross Margin (%) 10.3% 9.5% 9.0% 8.1% 8.3% Employee Expenses 241.9
Slide 42: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 EQUITY AND LIABILITIES (Rs. Cr) Mar-25 Mar-25 Mar-24 Mar-23 Mar-22 ASSETS Equity Non-current assets Equity Share capital 43.5 43.5 43.5 4.1 3.9 Property, plant and equipment 103.1 57.0 41.0 43.2 45.7 Other equity 1,645.1 1
Slide 43: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Cr) FY26 FY25 FY24 FY23 FY22 Net Profit Before Tax 179.3 138.7 35.6 -3.7 -19.8 Adjustments for: Non-Cash Items / Other Investment or Financial Items 107.1 44.0 86.6 -71.2 -41.5 Operating profit before working capital changes 286.4 182.8 122.2 67.5 21
Slide 44: Investor Relations Contacts
Company: Investor Relations Advisor: CIN: L74999HR2018PLC072204 CIN: U74140MH2010PTC204285 Ms. Akanksha Gupta Mr. Jigar Kavaiya / Parin Narichania E: irentero@ehspl.com E: jigar.kavaiya@sgapl.net / parin.n@sgapl.net T: +91-22-69019100 T: +91 9920602034 / +91 9930025733 www.enterohealthcare.com www.s
Entero Healthcare Solutions — Q4 FY26 Earnings Presentation on 6ix