Shares of MedPlus Well being Providers began robust on Monday, rising three % to hit Rs 726 following a major block deal. Practically 7 % of the corporate’s fairness, equal to seventy-eight level 9 lakh shares value Rs 552 crore, exchanged fingers at a mean worth of Rs 700 per share. By 10 am, the inventory was buying and selling at Rs 715 on the NSE, up one level 5 %.
Strong Q2 outcomes drive inventory rally
MedPlus has seen a 6 per cent rise in inventory worth over the previous week, boosted by a robust efficiency within the July-September quarter. The corporate reported a twofold enhance in consolidated internet revenue, reaching Rs 38.74 crore, in comparison with Rs 14.56 crore in the identical interval final yr. This surge was primarily pushed by robust demand for over-the-counter (OTC) medicines.
Income from operations rose 12 per cent year-on-year to Rs 157.6 crore, led by 11 per cent development within the retail phase, which constitutes the majority of MedPlus’s gross sales. Operational effectivity additionally improved, with the EBITDA margin rising to 4 level 6 per cent, up from 3.2 per cent in Q2 of the earlier fiscal yr.
MedPlus has outlined an aggressive growth technique, aiming so as to add 600 new shops over the following three years, specializing in tier-2 cities. The corporate already operates over 4 thousand retailers, making it the second-largest pharmacy chain in India after Apollo Pharmacy, which has a community of over six thousand shops.
Through the July-September quarter, MedPlus added 100 and eight new shops, together with seventy-one in tier-2 and smaller markets, bringing its complete retailer depend to 4 thousand 5 hundred and fifty-two by the tip of the quarter.
