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Medplus Health Services Ltd (MEDPLUS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543427 NSE: MEDPLUS Retailing | Small Cap | Medplus Health Servi Share Price

₹860.30 -36.45 (-4.06%)

As on 04-Jun'26 16:59

Medplus Health Services Ltd (MEDPLUS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543427 NSE: MEDPLUS Retailing | Small Cap | Medplus Health Servi Share Price

₹860.30 -36.45 (-4.06%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹10,335 Cr.
Current Price
₹860.3
52-Week Low / High
₹732 / 1,020
TTM EPS
₹5.2
TTM Sales
₹861 Cr.
Book Value per Share
₹109.6
P/E Ratio
165.60
Lower than its 3-year historical median
Industry PE
70.6
Price to Book (P/B)
7.85
In line with its 5-year historical median
Price to Sales (P/S)
12.01
Lower than its 5-year historical median
EV/EBITDA
86.50
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
3.40%
Underperforms industry median
Return on Capital Employed (ROCE)
4.93%
Underperforms industry median
Return on Assets (ROA)
2.97%
Operating Profit Margin
10.9%
Net Profit Margin
5.66%
Gross Profit Margin
10.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
52.69%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
141.77%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
327.33%
Asset Quality
Promoter Holding
40.22%
Pledged shares (%) of Promoter's holding (%)
60.74%
Reserves
₹1,292 Cr.
Equity
₹24 Cr.
Face Value
₹2
All Time Low / High
₹570.00 / 1343.00

Medplus Health Services stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is Medplus Health Services Ltd a good quality company?
Medplus Health Services Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Medplus Health Services Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Medplus Health Services Ltd vs industry peers?
Medplus Health Services Ltd revenue CAGR is 63.46%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Medplus Health Services Ltd?
Promoters hold 40.22% of the Medplus Health Services Ltd, with 60.74% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Medplus Health Services Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 10.55% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Medplus Health Services Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -2.5%-1.3%-2.3%-1.4%-8.3%-1.8%1%1.3%1.3%4.9%-
Value Creation
Index
-1.2-1.1-1.2-1.1-1.6-1.1-0.9-0.9-0.9-0.6-

Growth Parameters

Sales 2.22.29.49.561.168.3146214467713861
Sales YoY Gr.--3.6%336.1%1.1%541.9%11.8%113.3%46.8%118.3%52.7%-
Adj EPS -22.7-10.3-70.6-11.2-9.9-37.40.50.50.83.45.2
YoY Gr.-NANANANANANA-2.2%75.6%326.6%-
BVPS (₹) 542.6437.3821.2809.11,772.82,09392.393.195.6101.4109.6
Adj Net
Profit
-4.3-2-16.2-2.6-2.3-8.65.55.49.540.362
Cash Flow from Ops. -4.2-1.7-1.1-0.92.9-6.2-18.411.47.746.7-
Debt/CF from Ops. -10.2-25.300000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 89.7%63.5%69.8%52.7%
Adj EPS NANA94.2%326.6%
BVPS-17%-43.6%3.2%6.1%
Share Price - - 2.2% -6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-3.3-1.8-11.3-1.4-0.8-1.90.70.50.83.34.9
Op. Profit
Mgn %
-223.9-89.3-51.6-36.411.7-12.92.32.96.910.912.5
Net Profit
Mgn %
-191.8-90.1-171.5-27-3.7-12.53.72.525.77.3
Debt to
Equity
0.40.5000000000
Working Cap
Days
70679415415661116807577718664
Cash Conv.
Cycle
-4-39-72-15722673839323552

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales229106168146214467713
Operating Expenses + 7414138677142208435635
Manufacturing Costs111220141012
Material Costs00004450119157351547
Employee Cost 324472314284447
Other Costs 32983449193029
Operating Profit -5-2-5-3-25-9363278
Operating Profit Margin (%) -223.0%-89.3%-51.6%-36.4%-41.2%-12.9%2.3%2.9%6.9%10.9%
Other Income + 101122102379
Exceptional Items 0000000000
Interest 00120013789
Depreciation 0000115152427
Profit Before Tax -4-2-16-3-24-968751
Tax 00001002-311
Profit After Tax -4-2-16-3-25-966940
PAT Margin (%) -191.0%-90.1%-171.0%-27.0%-40.7%-12.5%3.8%2.6%2.0%5.7%
Adjusted EPS (₹)-22.7-10.3-74.1-11.8-114.0-38.30.50.50.83.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Medplus Health Servi - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 115951791773874691,1011,1111,1571,214
Share Capital 1212000024242424
Reserves 103831791763874681,0781,0871,1331,190
Debt +434300000000
Long Term Debt434300000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables1135126131845
Others Liabilities 2644710287781150133148
Total Liabilities 1851831891924165481,1871,2741,3081,407

Fixed Assets

Net Fixed Assets +100072385179192184
Gross Block222192692201238252
Accumulated Depreciation1221237224668
CWIP 000012161801
Investments 177177181186381409418917923928
Inventories000045471418
Trade Receivables0012912213870122
Cash Equivalents 204111877906357
Others Assets 4432312636254796
Total Assets 1851831891924165481,1871,2741,3081,407

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -4-2-1-13-6-1811847
PBT -4-2-16-3-24-968751
Adjustment -10120318133131
Changes in Working Capital 1021-5-6-232-27-27
Tax Paid -1-02010-2-2-2-9
Cash Flow From Investing Activity + -240-2-3-197-15-63632-24-39
Capex -0-0-0-0-3-12-37-61-11-9
Net Investments 000000-599543-17-36
Others -240-2-3-194-20-45045
Cash Flow From Financing Activity + -0-07020497569-8-6-10
Net Proceeds from Shares 007010594175
Net Proceeds from Borrowing 00-00000000
Interest Paid -0-0-0000-3-7-8-9
Dividend Paid 0000000000
Others 000020397-23-3-5-6
Net Cash Flow -28-14-41076-8635-22-2

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-3.86-2.1-12.34-1.44-8.83-20.710.50.833.4
ROCE (%)-2.5-1.27-2.29-1.39-8.3-1.751.011.251.324.93
Asset Turnover Ratio0.010.010.050.050.20.150.180.190.390.57
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/A-31.830.891.18
Working Capital Days
Receivable Days31.3022.3012.4050.5031.5052.5038.4046.6038.7045.10
Inventory Days18.7022.105.407.2012.3022.8010.208.407.507.60
Payable Days000026.7012.6012.2021.301621.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *58.0554.1754.1754.1755.2059.3459.3459.3460.7460.74
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Medplus Health Services Ltd FAQs

The current trading price of Medplus Health Servi on 04-Jun-2026 16:59 is ₹860.3.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Medplus Health Servi stood at ₹10,335.4 Cr

The latest P/E ratio of Medplus Health Servi as of 03-Jun-2026 is 165.6.

The latest P/B ratio of Medplus Health Servi as of 03-Jun-2026 is 7.85.

The 52-week high of Medplus Health Servi is ₹1,020.4 and the 52-week low is ₹732.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Medplus Health Servi is ₹861 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Medplus Health Services Ltd is a below average quality company.

The key valuation ratios of Medplus Health Services Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Medplus Health Services Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Medplus Health Services Ltd

Medplus Health Services offers a wide range of products, including (i) pharmaceutical and wellness products, including medicines, vitamins, medical devices and test kits, and (ii) fast-moving consumer goods, such as home and personal care products, including toiletries, baby care products, soaps and detergents, and sanitizers. The company was founded in 2006 by Gangadi Madhukar Reddy, its Managing Director and Chief Executive Officer, with the vision to set up a trusted pharmacy retail brand that offers genuine medicines and delivers better value to the customer by reducing inefficiencies in the supply chain using technology.

The company employs a data analytics driven cluster-based approach to its store network expansion, whereby it first achieve high store density in a densely-populated residential area within a target city before expanding its store network in the surrounding areas within that city, followed by expansion into other adjacent cities. Its cluster-based approach to store network expansion is also driven by its understanding of the catchment demographics, market dynamics, and its ability to support store expansion with back-end infrastructure, such as warehouses and distribution centres. This approach and understanding allow it to (i) create brand visibility within the cities where it operate, through focused implementation of marketing and advertising initiatives, (ii) increase its market share in the cities where it operate, (iii) replicate its growth model in adjacent underserved cities and towns, as it develop its presence in those clusters, and (iv) generate cost efficiencies due to operating leverage achieved in its supply chain and inventory management. It has a streamlined and methodical store opening process, and dedicated operations and business development teams at the area, city and state levels that would vet and approve the opening of new stores.

Business area of the company

MedPlus is one of India's leading healthcare companies with an ever-growing number of pharmacy stores, online pharmacy, path labs and optical services.

Awards, accreditations and recognitions

  • 2012: VC Circle Awards - Best VC-backed Healthcare Services Company.
  • 2017: Hans India - hmtv Business Excellence Award - Best in Retail category.

Major events and milestones

  • 2007: Pharmaceutica Ventures Limited invested Rs 800 million, by subscribing to 45,720 equity shares, Peepul Capital Fund II LLC invested Rs 226.33 million by subscribing to 30,000 equity shares of the Company and NEA-IndoUS Venture Capital LLC invested $5 million by subscribing to 11,620 equity shares of our Company (out of which 4,662 equity shares through conversion of Series A CCPS.)
  • 2012: EBITDA of the Company turned positive.
  • 2017: Gangadi Investments Private Limited acquired 122,347 equity shares, 12,000,000 unlisted redeemable preference shares and 42,847,000 non-convertible debentures from MKCP Direct Investments (Mauritius) IV Limited, MKCP Institutional Investor (Mauritius) III Limited, TVS Shriram Growth Fund IA and Indiaventure Trust -Fund I.
  • 2019: PI Opportunities Fund - I invested acquiring 22.21% stake of the Company as on date, pursuant to purchase of 21,233 equity shares.
  • 2021: Lavender Rose invested Rs 6.56 billion, acquiring a 24.58% stake of the Company as on date through primary and secondary transactions.
  • 2021: PI Opportunities Fund - I invested Rs 222.10 million by subscribing to 160,147 Series C2 CCPS.
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