When it comes to the number of stores and revenue, MedPlus Health Services is one of the largest pharmacy retailers in India.
Financial Results:
Consolidated revenue for the company was INR 11,903 million, up 6.2% from one quarter to the next and 27.5% over the prior year. The company’s consolidated operating EBITDA stood at INR 371 million, representing 3.1 percent. This represents a 31 per cent quarter-on quarter and 1.2 percent year-on-year growth. The company’s pharmacy operations contribute to around 99 per cent of its revenue. The pharmacy operating EBITDA was Rs 406 million, representing 3.5 percent.
The company’s net working capital for Q3 was 63 days and the inventory in their warehouse was 37 days, on working capital.
As it is known, new retailers’ inventory turnover is lower in the first year due to the sales trajectory of new stores. The first new outlets opened by the company had an inventory level of 109 days in Q3. In contrast, the inventory for those stores older than a year was 38 days.
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