Medplus Health Services Ltd

Medplus Health Services Ltd

₹ 689 -0.22%
23 Feb - close price
About
Key Points

India’s Leading Pharmacy company[1] MedPlus Health Services is the second-largest pharmacy retailer in India in terms of revenue and number of stores. The company has 4089 stores across the states of Telangana (679 stores), Andhra Pradesh (454 stores), Karnataka (893 stores), Tamil Nadu (845 stores), West Bengal (506 stores), Maharashtra (553 stores), and Odisha (149 stores), Chattisgarh (4 stores) Madhya Pradesh (4 stores) as of H1FY24.

  • Market Cap 8,235 Cr.
  • Current Price 689
  • High / Low 978 / 598
  • Stock P/E 141
  • Book Value 127
  • Dividend Yield 0.00 %
  • ROCE 5.47 %
  • ROE 3.26 %
  • Face Value 2.00

Pros

  • Company's working capital requirements have reduced from 85.3 days to 65.6 days

Cons

  • Stock is trading at 5.41 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Company has a low return on equity of 6.36% over last 3 years.
  • Promoters have pledged 58.0% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Retail Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
801 806 955 925 933 966 994 1,121 1,190 1,253 1,284 1,409 1,441
743 745 859 863 872 914 941 1,061 1,119 1,171 1,213 1,324 1,350
Operating Profit 58 60 97 62 61 52 53 60 72 82 71 85 92
OPM % 7% 7% 10% 7% 7% 5% 5% 5% 6% 7% 6% 6% 6%
9 4 4 7 7 13 10 11 11 14 9 10 10
Interest 13 15 15 16 17 19 20 20 21 22 23 24 24
Depreciation 22 24 27 28 30 34 38 42 46 56 52 55 57
Profit before tax 32 26 58 25 22 13 5 9 16 17 5 16 20
Tax % 29% 30% 21% 20% 22% 10% 24% 27% 17% -54% 26% 12% 31%
23 18 46 20 17 11 4 6 13 27 4 15 14
EPS in Rs 1,124.69 400.31 1,016.36 6.31 1.44 0.98 0.27 0.55 1.12 2.23 0.32 1.22 1.15
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,368 1,733 2,011 2,131 2,273 2,871 3,069 3,779 4,558 5,387
1,336 1,696 1,940 2,073 2,153 2,737 2,852 3,507 4,292 5,057
Operating Profit 32 37 71 58 120 134 217 273 266 330
OPM % 2% 2% 4% 3% 5% 5% 7% 7% 6% 6%
4 8 7 8 11 17 21 31 46 43
Interest 14 17 19 28 50 47 55 66 83 94
Depreciation 9 10 11 12 59 75 88 119 182 221
Profit before tax 14 19 48 26 23 29 95 118 47 59
Tax % 46% 52% 40% -65% 48% 94% 34% 20% -6%
7 9 29 42 12 2 63 95 50 59
EPS in Rs 419.34 508.71 1,620.57 2,080.06 585.46 107.02 1,393.11 8.03 4.17 4.92
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 16%
3 Years: 17%
TTM: 26%
Compounded Profit Growth
10 Years: %
5 Years: 2%
3 Years: 197%
TTM: 70%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 7%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 6%
Last Year: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 0 0 0 0 0 0 24 24 24
Reserves 141 137 148 303 291 528 730 1,394 1,467 1,499
Preference Capital 12 12 12 0 0 0 0 0 0
158 210 192 162 429 477 590 815 900 958
139 162 196 179 239 344 245 361 406 457
Total Liabilities 438 509 535 644 959 1,349 1,566 2,594 2,797 2,937
67 77 81 83 377 419 517 799 1,138 1,200
CWIP 3 3 2 1 1 5 6 20 25 9
Investments 0 0 0 0 0 0 0 0 0 0
368 429 453 560 580 924 1,043 1,775 1,633 1,729
Total Assets 438 509 535 644 959 1,349 1,566 2,594 2,797 2,937

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-19 -17 34 32 147 -7 3 170 90
-16 -32 -15 -18 -19 -28 -35 -703 429
67 35 -29 -1 -83 90 -6 440 -170
Net Cash Flow 32 -15 -10 14 45 56 -37 -93 350

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 1 1 0 2 1 1 1 1 1
Inventory Days 84 82 76 76 78 101 113 112 117
Days Payable 34 29 25 27 31 37 22 30 27
Cash Conversion Cycle 51 53 51 51 48 65 91 82 91
Working Capital Days 42 41 39 39 31 45 69 121 66
ROCE % 11% 19% 13% 12% 9% 13% 10% 5%

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
40.43% 40.43% 40.43% 40.43% 40.43% 40.43% 40.43% 40.41% 40.45%
3.42% 2.97% 3.15% 3.74% 3.94% 4.48% 4.87% 12.36% 12.96%
27.72% 29.24% 29.48% 28.84% 28.77% 28.16% 28.13% 25.50% 25.19%
28.08% 27.01% 26.58% 26.64% 26.56% 26.73% 26.42% 21.61% 21.31%
0.35% 0.35% 0.35% 0.35% 0.29% 0.19% 0.15% 0.12% 0.10%
No. of Shareholders 1,02,77982,62777,11976,97274,70273,51270,01766,43066,048

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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