MedPlus Health Services MEDPLUS
India's second-largest pharmacy retail chain, with a large private-label generics push
Mapped in 1 theme: Pharmaceuticals.
Where MedPlus Health Services sits in the supply chain
MedPlus Health Services appears in 1 supply-chain layer in one theme, Pharmaceuticals.
Pharmaceuticals › Distribution & pharmacy retail
OperatorOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 5,625 | 6,136 | 6,892 |
| Net profit | 66 | 150 | 220 |
Latest-year revenue ₹6,892 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Thousands of stores concentrated in south India with improving store maturity
- Private-label generics lift gross margins well above branded resale
- Profit rising steadily from a thin base (FY26 ₹220 Cr)
Risks
- Thin margins - pharmacy EBITDA in mid-single digits
- Diagnostics expansion has diluted returns
- Regulatory risk on trade margins and online pharmacy rules
Common questions
What does MedPlus Health Services do?
India's second-largest pharmacy retail chain, with a large private-label generics push.
Where does MedPlus Health Services sit in the supply chain?
MedPlus Health Services (NSE: MEDPLUS) is mapped in 1 supply-chain layer: Distribution & pharmacy retail (Pharmaceuticals).
Who are MedPlus Health Services' peers?
In the Distribution & pharmacy retail layer of Pharmaceuticals: Apollo Hospitals Enterprise, Entero Healthcare Solutions, PharmEasy (API Holdings) (not NSE-listed) and Tata 1mg (not NSE-listed).
What is MedPlus Health Services' market cap and valuation?
As of 30 Oct 2026: market cap ₹6,966 Cr, P/E 33.0x, ROCE 12.6%, ROE 11.6%, dividend yield 0%.