# MedPlus Q2 Results: Net profit flat as revenue surges 21%; store-level ROCE at 72% — retained record

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source: [news](https://highsignal.app/data/news) (news:india-cnbc-tv18)  published 2026-10-27 13:43 ingested 2026-10-28 02:53

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MedPlus Q2 Results: Net profit flat as revenue surges 21%; store-level ROCE at 72%
- Published OnOct 27, 2026 | 19:10 IST
- Last Updated OnOct 27, 2026 | 19:13 IST
A rapid expansion in the pharmacy network drove strong top-line growth, even as margin pressures kept overall profit gains muted. The retail chain accelerated store additions beyond major metropolitan markets while maintaining strong capital returns at mature outlets. Discover how management plans to sustain profitability amid rising operational expansion costs.
Pharmacy retail chain MedPlus Health Services Ltd on Tuesday (October 27) reported a 0.9% year-on-year increase in net profit to ₹56 crore for the second quarter of FY27, compared with ₹55.5 crore in the year-ago period.
Revenue rose 21.3% year-on-year to ₹2,037 crore from ₹1,679 crore. Revenue was up 8.4% sequentially, increasing ₹157.5 crore from the first quarter.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 14.1% to ₹170 crore from ₹149 crore, while the EBITDA margin declined to 8.4% from 8.9% a year earlier.
ALSO READ | MedPlus Health shares fall up to 18%, slip below IPO price, dragged by these factors
Gross margin stood at ₹510.8 crore, with the gross margin percentage at 25.1%, down 110 basis points year-on-year but up 60 basis points sequentially. Pharmacy operating earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at ₹88.5 crore, with an operating EBITDA margin of 4.4%, up 120 basis points quarter-on-quarter. The company's operating EBITDA was ₹98.1 crore.
MedPlus added 166 stores on a net basis during the quarter, including 219 gross additions and 101 net additions beyond Tier-I cities. Its total store count stood at 5,642 as of September 30, 2026. Stores operational for more than 12 months recorded 13.2% year-on-year revenue growth, a store-level EBITDA margin of 11.7% and store-level operating return on capital employed (ROCE) of 72%.
Operating cash flow for the quarter stood at ₹37 crore, equivalent to 37.7% of operating EBITDA. Closing cash, bank balances and investments totalled ₹543.9 crore, including ₹81.8 crore in investments.
ALSO READ | MedPlus Health Q1 net profit falls 22% as margins decline despite 22% revenue growth
For the first half of FY27, revenue grew 21.6% year-on-year to ₹3,916.7 crore, an increase of ₹694.7 crore over the corresponding period last year. Gross margin stood at ₹971.2 crore, with the gross margin percentage at 24.8%, down 130 basis points year-on-year.
MedPlus recorded 312 net store additions in H1 FY27, including 441 gross additions and 226 net additions beyond Tier-I cities. Stores operational for more than 12 months reported revenue growth of 14.9% year-on-year and a store-level EBITDA margin of 11.1%.
Pharmacy operating EBITDA for the first half stood at ₹147.3 crore, with a margin of 3.8%, down 100 basis points year-on-year. Company operating EBITDA was ₹163.2 crore. Operating cash flow reached ₹162.2 crore, equivalent to 99.4% of operating EBITDA, while closing cash, bank balances and investments stood at ₹543.9 crore, including ₹81.8 crore in investments.
ALSO READ | MedPlus puts ₹100 crore concierge healthcare project on hold after investor feedback
Shares of MedPlus Health Services Ltd ended at ₹624.00, up by ₹15.30, or 2.51%, on the BSE.
MedPlus Q2 Results: Net profit flat as revenue surges 21%; store-level ROCE at 72%
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