Medplus Health Services Limited Earnings Summary — Q4 FY2025

• Net profit for the quarter surged by nearly 53% year-on-year to ₹513.2 million, driven by operational efficiencies.
• Revenue growth moderated to 1.3% YoY, totaling ₹15.1 billion, with a slight sequential decline of 3.3%.
• Diagnostic services continue to scale, with segment revenue rising to ₹280.8 million and losses narrowing compared to the prior year.
• The retail segment remains the primary engine, contributing over 98% of total revenue and maintaining healthy margins.
• Cash balances remain stable with ₹860.5 million in cash and equivalents, despite aggressive capital expenditure on store rollouts.
• The board approved the appointment of Mr. Subrahmanyam Sharma Tatapudi as the new Chief Technology Officer to lead digital initiatives.

Management is focused on deepening penetration in Tier-2 and Tier-3 cities while optimizing the supply chain through an omni-channel approach. The completion of the subsidiary merger (MHS Pharmaceuticals) aims to streamline operations and corporate structure.

Improving

Significant bottom-line outperformance and margin expansion outweigh the temporary slowdown in sequential revenue growth.

The company is transitioning into a phase of operational leverage, expecting margin expansion to reach up to 9% as store-level efficiencies mature. Expansion remains the priority, with a focus on Southern and Western India markets.