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Reliance-backed Netmeds remained a relatively small player compared to online pharmacy rivals such as Tata 1mg and PharmEasy, with its operating revenue remaining largely flat in FY26. The company, however, stayed profitable with Rs 5.5 crore during the year. Netmeds’ revenue from operations grew marginally by 2.3% in the fiscal year ended March 2026 to Rs 44.7 crore from Rs 43.7 crore in FY25, according to its standalone financial statements filed with the Registrar of Companies (RoC). Netmeds operates an online healthcare platform that sells pharmaceutical and healthcare products and provides services across diagnostics, doctor consultations and other healthcare offerings. The company also generates revenue through marketing and healthcare-related services. Income from services continued to account for the bulk of Netmeds’ revenue during FY26. Gross service income stood at Rs 46.3 crore compared with Rs 46.2 crore in FY25. Revenue from the sale of goods, meanwhile, increased 24% to Rs 6.03 crore from Rs 4.86 crore in the previous fiscal year. After adjusting Rs 7.6 crore towards GST recovered, Netmeds’ revenue from operations stood at Rs 44.7 crore in FY26. The company also generated Rs 3.24 crore from non-operating sources, which took its total income to Rs 47.94 crore during the year. Employee benefit expenses remained the largest cost centre for Netmeds, increasing 4% to Rs 13.7 crore in FY26 compared to Rs 13.2 crore in FY25. Meanwhile, technical service costs declined 12% to Rs 9.12 crore, whereas the cost of materials increased 12% to Rs 4.44 crore during the year. Advertising and promotional expenditure surged 76% to Rs 2.9 crore from Rs 1.65 crore in FY25. Other overheads such as legal & professional rent stood added another Rs 12.24 crore, taking the company’s total expenditure to Rs 42.4 crore from Rs 41.6 crore in the previous fiscal year. Despite its relatively modest topline growth, Netmeds remained profitable during FY26 with Rs 5.5 crore, which declined by 5% compared to FY25. Its ROCE and EBITDA margin stood at 4.5% and 5.66%, respectively. The company spent around Rs 0.95 to earn a rupee of operating revenue during the year, unchanged from FY25. Reliance Industries Limited, through its wholly-owned subsidiary Reliance Retail Ventures Limited (RRVL) has acquired a majority equity stake in Netmeds for about Rs 620 crore in cash in August 2020. The platform competes with Tata 1mg, which reported Rs 2,936 crore in revenue and a consolidated loss of Rs 287 crore in FY26, while PharmEasy parent API Holdings posted Rs 6,869 crore in revenue during the year. Apollo 24/7 is another key player in India’s online healthcare and pharmacy market.
document fetched 2026-10-01 03:04