MEDPLUS

Medplus Health Services Limited

Organised pharmacy retailer with diagnostics membership plans and private labels

Consumer Discretionary›Consumer Services›Retailing›Pharmacy Retail

medplusindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹611.95
Market cap
7,356 Cr
Stock P/E
34.9
P/B
3.72
ROE (FY26)
11.1%
ROCE (FY26)
20.0%
Operating margin (FY26)
4.7%
Debt / equity (FY26)
0.00
OCF / EBITDA (FY26)
81.6%
OCF / EBITDA (3Y)
81.4%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

MedPlus (Medplus Health Services) runs a chain of 5,476 pharmacy stores that sell medicines and other health products, including its own private-label range, and also offers diagnostics services.

Company snapshot

1stBy market cap

Ranked among 2 companies in Pharmacy Retail.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 98.2% of revenue

SegmentRevenue shareRevenuePBTAssets
a. Retail
98.2%
1,534 Cr54 Cr2,613 Cr
b. Diagnostic services
1.8%
27 Cr-2 Cr147 Cr
c. Others
0.0%
0.09 Cr-0.05 Cr472 Cr

What we see

Positives
  • ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,409 Cr1,441 Cr1,490 Cr1,489 Cr1,576 Cr1,561 Cr1,510 Cr1,543 Cr1,679 Cr1,806 Cr1,864 Cr1,880 Cr
Operating expenses (approx.)1,323 Cr1,350 Cr1,385 Cr1,395 Cr1,452 Cr1,429 Cr1,373 Cr1,412 Cr1,530 Cr1,648 Cr1,695 Cr1,746 Cr
EBITDA85 Cr92 Cr106 Cr94 Cr124 Cr133 Cr136 Cr131 Cr149 Cr159 Cr169 Cr133 Cr
OPM %6.0%6.4%7.1%6.3%7.9%8.5%9.0%8.5%8.9%8.8%9.1%7.1%
Other income10 Cr10 Cr10 Cr9 Cr12 Cr13 Cr16 Cr15 Cr17 Cr18 Cr21 Cr20 Cr
Interest24 Cr24 Cr25 Cr25 Cr25 Cr26 Cr27 Cr27 Cr29 Cr31 Cr33 Cr33 Cr
Depreciation55 Cr57 Cr59 Cr60 Cr63 Cr62 Cr64 Cr66 Cr69 Cr73 Cr76 Cr78 Cr
Profit before tax16 Cr20 Cr32 Cr18 Cr48 Cr57 Cr61 Cr53 Cr69 Cr73 Cr80 Cr42 Cr
Tax %11.6%31.3%-4.9%19.4%19.0%19.0%16.0%19.8%19.5%21.1%20.4%20.8%
Net profit15 Cr14 Cr34 Cr14 Cr39 Cr46 Cr51 Cr42 Cr56 Cr58 Cr64 Cr33 Cr
EPS (₹)₹1.22₹1.15₹2.81₹1.20₹3.24₹3.84₹4.32₹3.54₹4.63₹4.82₹5.33₹2.76

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,273 Cr2,871 Cr3,069 Cr3,779 Cr4,558 Cr5,625 Cr6,136 Cr6,892 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,154 Cr2,737 Cr2,853 Cr3,507 Cr4,292 Cr5,271 Cr5,649 Cr6,285 CrSign in free for the trailing twelve months
EBITDA119 Cr134 Cr217 Cr272 Cr266 Cr354 Cr487 Cr607 CrSign in free for the trailing twelve months
OPM %5.2%4.7%7.1%7.2%5.8%6.3%7.9%8.8%Sign in free for the trailing twelve months
Other income12 Cr17 Cr22 Cr31 Cr46 Cr40 Cr49 Cr71 CrSign in free for the trailing twelve months
Interest50 Cr47 Cr55 Cr66 Cr83 Cr96 Cr103 Cr120 CrSign in free for the trailing twelve months
Depreciation59 Cr75 Cr88 Cr119 Cr182 Cr224 Cr250 Cr283 CrSign in free for the trailing twelve months
Profit before tax23 Cr29 Cr95 Cr118 Cr47 Cr73 Cr183 Cr275 CrSign in free for the trailing twelve months
Tax %47.6%93.9%33.6%19.7%-6.2%10.7%18.0%20.2%Sign in free for the trailing twelve months
Net profit12 Cr2 Cr63 Cr95 Cr50 Cr66 Cr150 Cr220 CrSign in free for the trailing twelve months
EPS (₹)₹1.33₹0.21₹5.99₹8.55₹4.17₹5.48₹12.57₹18.33Sign in free for the trailing twelve months
Dividend payout %———0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital0.19 Cr0.19 Cr0.45 Cr24 Cr24 Cr24 Cr24 Cr24 Cr
Reserves291 Cr528 Cr730 Cr1,394 Cr1,467 Cr1,554 Cr1,717 Cr1,951 Cr
Borrowings104 Cr105 Cr135 Cr143 Cr————
Other liabilities563 Cr715 Cr699 Cr1,034 Cr1,306 Cr1,427 Cr1,620 Cr1,958 Cr
Total liabilities959 Cr1,349 Cr1,566 Cr2,594 Cr2,797 Cr3,005 Cr3,360 Cr3,933 Cr
Fixed assets (net)47 Cr60 Cr87 Cr162 Cr288 Cr319 Cr291 Cr318 Cr
CWIP1 Cr3 Cr6 Cr20 Cr24 Cr5 Cr13 Cr32 Cr
Investments—0.25 Cr0.03 Cr0.03 Cr0.03 Cr0 Cr0 Cr0 Cr
Inventories394 Cr644 Cr750 Cr915 Cr1,144 Cr1,340 Cr1,345 Cr1,382 Cr
Trade receivables9 Cr6 Cr5 Cr6 Cr9 Cr18 Cr13 Cr27 Cr
Cash & bank25 Cr114 Cr107 Cr21 Cr228 Cr91 Cr86 Cr198 Cr
Other assets482 Cr522 Cr611 Cr1,469 Cr1,103 Cr1,232 Cr1,612 Cr1,975 Cr
Total assets959 Cr1,349 Cr1,566 Cr2,594 Cr2,797 Cr3,005 Cr3,360 Cr3,933 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity147 Cr-7 Cr3 Cr170 Cr90 Cr144 Cr540 Cr496 Cr
Cash from investing-19 Cr-28 Cr-35 Cr-703 Cr429 Cr-83 Cr-318 Cr-128 Cr
Cash from financing-83 Cr90 Cr-6 Cr440 Cr-170 Cr-198 Cr-228 Cr-256 Cr
Net cash flow45 Cr56 Cr-37 Cr-93 Cr350 Cr-137 Cr-5 Cr112 Cr
Free cash flow (OCF − Capex)125 Cr-37 Cr-51 Cr52 Cr-79 Cr59 Cr481 Cr373 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.4%12.0%17.3%11.8%8.7%10.8%16.4%20.0%
ROE %4.1%0.4%8.7%6.8%3.3%4.2%8.6%11.1%
Debtor days11111111
Inventory days84725608543310917132160911098679335668
Days payable3399722141653846113659207417631259
Cash conversion cycle5073038714265711252212433891361714410
OCF / EBITDA %123.1%-4.9%1.3%62.4%34.0%40.6%110.9%81.6%
OCF / EBITDA % (3 years)——30.5%26.7%34.9%45.3%70.0%81.4%
Debt / equity0.360.200.190.10———0.00
Current ratio1.261.702.222.923.112.983.203.00
Net debt / EBITDA0.67-0.070.130.45-0.86-0.26-0.18-0.33