Q3 2026 MedPlus Health Services Ltd Earnings Call Transcript
Key Points
- Medplus Health Services Ltd (BOM:543427) achieved a net addition of 182 stores during the quarter, indicating strong expansion efforts.
- The company reported a 15.6% year-on-year growth in revenue from pharmacy operations, showcasing robust sales performance.
- Private label sales have increased significantly, with private label pharma sales reaching 18.9% of total revenues, up from 7.9% in the previous year.
- The diagnostic segment recorded a substantial growth in operating EBITDA, reaching INR50.7 million compared to INR22.1 million in the previous year, translating to a 15.5% operating EBITDA margin.
- The company has improved its working capital efficiency, reducing net working capital to 53 days, aided by strategic inventory management and franchisee model implementation.
- The company closed 46 stores during the quarter, which may indicate challenges in certain locations or market conditions.
- There was a one-time non-recurring charge of INR70.59 million due to the implementation of the new labor code, impacting operating EBITDA.
- The on-time renewal rate for active plans decreased slightly to 23% in Q3 from 24% in the previous quarter, suggesting potential customer retention challenges.
- Non-store expenses have increased materially on a year-on-year and quarter-on-quarter basis, partly due to a one-time expense related to new wage codes.
- The company has not provided specific guidance for future store expansion or top-line growth, leaving some uncertainty about long-term strategic plans.
Good day and welcome to the Med Plus Health Services Limited Q3 FY26 earnings conference call.
(Operator Instructions)
Please note that this conference is being recorded. I will now have the conference over to Mr. D R N Srinivas from MedPlus Health Services Limited for opening remarks. Thank you and over to you, sir.
Thank you, Ryan. Good evening, everyone. On behalf of MedPlus, it's my utmost pleasure to welcome you all to MedPlus Q3 FY26 earnings conference call to discuss the financial results of MedPlus for the third quarter of FY26, which were announced earlier.
We have with us today the senior management team represented by Mr. Madhukar Redi Gangadi, Chief Executive Officer and Managing Director, and Mr. Sujit Mahato, CFO.
Before we begin, I would like to mention that some statements. Made in today's discussion may be forward-looking in nature and may involve risk and uncertainties. Please note the disclaimer mentioning these risks and
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