MedPlus Health Services Limited has released the transcript of its Earnings Call held on February 02, 2026, to discuss the financial results for the third quarter of FY26, ending December 31, 2025. The company reported a net addition of 182 stores during the quarter, contributing to a total of 400 net additions in the current financial year, with a target of adding 600 new stores in FY26. The store network grew to 5,112 stores. Consolidated revenue for the quarter stood at ₹18,061 million. Consolidated operating EBITDA was ₹96.8 crore (5.4%), after considering a non-recurring charge of ₹7.059 crore related to the implementation of the new Labour Code. Pharmacy operations revenue grew by 15.6% year-on-year, with pharmacy operating EBITDA at ₹92.5 crore (5.2%). Private label sales constituted 22.2% of total revenues (11.6% Pharma, 10.6% FMCG). On a GMV basis, private label pharma sales were 18.9% of total sales. Stores older than 12 months generated revenue of ₹16,300 million (96% of pharmacy revenues) with a store-level EBITDA margin of 12.4%. Diagnostics revenue grew to ₹326.7 million, with an operating EBITDA of ₹50.7 million (15.5% margin). The company discussed strategies to drive Same-Store Sales Growth (SSSG), including adjustments to the store-level incentive structure to encourage total sales growth. They also provided insights into the margin profiles of branded vs. private label products across pharma and non-pharma categories. The company indicated that gross margins are expected to remain stable, and they are exploring franchisee models. Regarding future outlook, the company aims to continue store expansion, targeting similar numbers to the current year for FY27. They are also focused on improving operating leverage and private label penetration, particularly in the non-pharma segment, to enhance profitability.
