Entero Healthcare Solutions Limited · NSE:ENTERO
Entero Healthcare Solutions — Q3 FY2026 Earnings Presentation
40 slides from Entero Healthcare Solutions's earnings presentation, February 2026
Slide 1: Entero Healthcare Solutions Limited Q3FY26 Investor Presentation
Everything in Pharma… Everywhere in India… Entero Healthcare Solutions Limited Q3FY26 Investor Presentation – February 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: Q3 & 9M FY26 Financial Highlights
Q3 & 9M FY26 Financial Highlights
Slide 4: Management Commentary
Management Commentary This was another quarter of solid growth where we achieved highest organic like- for-like growth rate (17.1%) year-to-date. Along with growth, we have also improved our cash flow performance and generated INR 49 Cr of operating cashflow during the quarter while maintaining EBIT
Slide 5: Q3FY26 - Key Financial Highlights
Q3FY26 - Key Financial Highlights › Revenue growth on LFL basis was 28.5% YoY. Organic revenue growth on LFL basis was 17.1% YoY. Like-for-Like growth includes impact of revenue recorded on net margin basis and divestment of a subsidiary › Reported revenue growth at 25.6% YoY. Organic revenue growth
Slide 6: Revenue Split
Revenue Split Rs. Cr 10.7% 1,707 7.2% 5.2% 4,681 14.2% 0.6% 12.2% 1,359 3,757 Organic growth New acquisitions Organic growth New acquisitions 9MYF25 Revenue Calendarization 9MFY26 Revenue Q3YF25 Revenue Calendarization Q3FY26 Revenue Particulars Q1FY26 Q2FY26 Q3FY26 9MFY26 Organic Growth 12.0% 10.7%
Slide 7: Achieved Positive OCF in the quarter
Achieved Positive OCF in the quarter Particulars (Rs. Cr) Q3FY26 Q2FY26 Q1FY26 9MFY26 FY25 EBITDA Margin driving Net Profit Before Tax 40.4 44.6 36.4 121.4 138.7 profitability improvement Wage Code Impact 8.2 - - 8.2 - Adjustments for: Non-Cash Items / Other 24.5 20.2 16.3 61.0 44.0 Investment or Fi
Slide 8: Consolidated Financial Highlights
Consolidated Financial Highlights Revenue (Rs. Cr) Gross Profit (Rs. Cr) & Margin (%) EBITDA (Rs. Cr) & Margin (%) PAT* (Rs. Cr) +26% +29% +36% +36% Quarter 1,707 173 68 40 1,359 133 50 29 9.8% 10.1% 3.7% 4.0% 2.2% 2.3% Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Revenue (Rs. Cr) Gross P
Slide 9: Key Balance Sheet Highlights
Key Balance Sheet Highlights Net Operating Working Capital (Days) RoCE (%) RoE (%) 61^ 12.3%* 69 14.8% 11.0% 63 64 13.8% 10.4% 12.3% 9.0% Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Net Operating Working Capital (Days) RoCE (%) RoE (%) 10.9%* 75 13.2% 10.3% 69 10.5% 7.3% 9MFY25 9M
Slide 10: Acquisition Update: Margin accretive acquisitions
Acquisition Update: Margin accretive acquisitions Proforma impact on Consolidated Financials# EV/EBITDA multiple in single digits Gross margin : +70 to 90bps [10.2% -> 10.9% to 11.1%] in line with earlier acquisitions EBITDA Margin : +50 to 75bps [4.0% -> 4.5% to 4.75%] On Track to meet Rs. 1,000 Cr
Slide 11: YTD Acquisitions Update
YTD 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 Lt
Slide 12: Entero's MedTech revenue expected to cross Rs. 1,000 Cr
Entero’s 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 opport
Slide 13: Operational Highlights
Operational Highlights Outperforming Customers Relationship with Market Growth SKU’s Handled (Retailers) healthcare product (9MFY26) manufacturers Entero (LFL): 27.6% 9MFY26: 97,600+ 9MFY26: 89,200+ 9MFY26: 3,100+ IPM: 9.4% 9MFY25: 84,900+ 9MFY25: 76,600+ 9MFY25: 2,500+ Customers Districts Covered*
Slide 14: Growing faster than Industry… Gaining Market Share
Growing faster than Industry… Gaining Market Share High base effect due to COVID-19 IPM Entero Organic Growth Entero Consolidated Growth 65% 53% 40% 41% 38% 37% 35% 35% 32% 31% 31% 29% 28% 28%* 26% 27% 24% 21% 22% 21% 19% 19% 19% 20% 16% 16% 17% 17%* 15% 15% 14% 15%* 18% 17% 17% 13%* 11% 16% 11%* 12
Slide 15: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (INR Cr) Q3FY26 Q2FY26 Q3FY25 YoY% 9MFY26 9MFY25 YoY% Revenue 1,706.5 1,570.9 1,359.0 25.6% 4,681.3 3,756.7 24.6% Cost of Goods Sold 1,533.9 1,410.1 1,225.6 4,208.3 3,401.2 23.7% Gross Profit 172.6 160.8 133.4 29.4% 473.0 355.5 33.0% Gross Margin (%)
Slide 16: About Us
About Us
Slide 17: 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 18: Entero at a Glance
Entero at a Glance Geographical Reach of Distribution Network 97,600+ 3,200+ 3,100+ Customers Retail Pharmacies Hospital Supply relationships with catered to customers healthcare product manufacturers AMRITSAR PANCHKULA DEHRADUN KARNAL DELHI GHAZIABAD GURGAON NOIDA FARIDABAD JAIPUR GORAKHPUR LUCKNOW
Slide 19: 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+ 5,096 FY24 86,300+ FY24 3,500+ FY25 95,300+ FY25 3,600+ Relationship with healthcare +30% CAGR 3,922 SKU’s Handled product manufacturers 3,300 FY23 64,500+ FY2
Slide 20: Strong Board backed by Healthcare-Focused Investors
Strong Board backed by a Healthcare-Focused Investors 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 Prem Seth
Slide 21: 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 22: Leadership Team
Leadership Team Sanu Kapoor Sambit Mohanty Abhitesh Kumar Vice President - General Counsel, Company President - Institutional Business Chief Growth Officer Secretary and Compliance Officer • Associate member of the Institute of Company Secretaries • Bachelor’s of science from Utkal University and Ma
Slide 23: Market Opportunity
Market Opportunity
Slide 24: 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 25: 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 26: 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 27: Key Strengths
Key Strengths
Slide 28: 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 29: 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 30: 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 21 States 50/505 Cities/Districts AMRITSAR Customer Network PANCHKULA DEHRADUN KARNAL GHAZIABAD DELHI NOIDA Retail GURGAON Hospital JAIPUR FARIDABAD GORAKHPUR LUC
Slide 31: 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 32: 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 33: 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 34: 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 35: Historical Financials
Historical Financials
Slide 36: Historical Financial Highlights
Historical Financial Highlights Revenue (Rs. Cr) Gross Profit (Rs. Cr) and Margin (%) 8.0% 8.3% 8.1% 9.0% 9.5% 5,096 486 +30% 3,922 +36% 352 3,300 2,522 268 210 1,780 142 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 EBITDA (Rs. Cr) and Margin (%) Net Operating Working Capital (Days)* 1.2% 1.0%
Slide 37: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. Cr) FY25 FY24 FY23 FY22 FY21 Revenue 5,095.8 3,922.3 3,300.2 2,522.1 1,779.7 Cost of Goods Sold 4,609.5 3,570.4 3,031.9 2,312.4 1,638.1 Gross Profit 486.3 352.0 268.3 209.6 141.6 Gross Profit Margin 9.5% 9.0% 8.1% 8.3% 8.0% Employee Cost 195.5 149.4 128.1
Slide 38: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Cr) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 EQUITY AND LIABILITIES (Rs. Cr) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 ASSETS Equity Non-current assets Equity Share capital 43.5 43.5 4.1 3.9 0.1 Property, plant and equipment 57.0 41.0 43.2 45.7 40.9 Other equity 1,680.6 1,5
Slide 39: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Cr) FY25 FY24 FY23 FY22 FY21 Net Profit Before Tax 138.7 35.6 -3.7 -19.8 -10.8 Adjustments for: Non Cash Items / Other Investment or Financial Items 44.0 86.6 -71.2 -41.5 42.7 Operating profit before working capital changes 182.8 122.2 67.5 21.7 31.8
Slide 40: Investor Relations Contact
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
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