Event Type: Q4 & FY26 Earnings Cum Business Update Group Conference Call

Date and Time: The call was held on 12th June, 2026 at 4:00 PM IST

Purpose: To discuss the performance for the quarter and year ended March 31, 2026 and provide business updates of the Company

Management Participants:

  • Mr. Banwari Lal Mittal, Managing Director and CEO
  • Mr. Lokesh Agarwal, CFO
  • Ms. Shrutee Barve, Moderator

Availability of Materials: The transcript has been uploaded to the company website at http://healthxplatform.com/Pdf/HXPLQ4FY26EarningsGroupConferenceCall_Transcript.pdf

Financial Period Discussed: Q4 FY26 and Full Year FY26 (ended March 31, 2026)

Financial Highlights Disclosed:

  • Q4 FY26 Revenue: ₹356 crores (22% YoY growth, 4% QoQ growth)
  • Q4 Gross Profit: ₹26.5 crores (45% YoY growth)
  • Q4 Gross Margin: 7.3% (vs 5.9% in Q4 FY25)
  • Q4 EBITDA Loss: ₹20 crores (29% improvement YoY from ₹29 crores)
  • Q4 EBITDA Margin: -5.5% (vs -10.3% in Q4 FY25)
  • Q4 PAT Loss: ₹12.9 crore (vs profit of ₹17.6 crore in Q4 FY25)
  • FY26 Revenue: ₹1,283 crore (18% YoY growth)
  • FY26 Gross Profit: ₹96.5 crore (36.5% YoY growth)
  • FY26 Gross Margin: 7.5% (vs 6.5% in FY25)
  • FY26 EBITDA Loss: ₹65 crores (improved from ₹79 crore in FY25)
  • FY26 EBITDA Margin: -5% (vs -7.3% in FY25)
  • FY26 PAT Loss: ₹1.4 crore (vs loss of ₹133 crore in FY25)
  • Cash Balance: Approximately ₹30 crores (excluding treasury)
  • Working Capital Efficiency: 18 days (5% of annual sales)
  • Capital Employed: Roughly ₹74 crores

Strategic Updates and Forward-looking Statements:

  • Company transitioned to HealthX identity reflecting evolution into broader healthcare ecosystem
  • Four core principles: Innovation powered by technology, Value delivered with efficiency, Impact driven by empathy, Trust built on authenticity
  • Two business verticals: Sastasundar App (B2C) and Retailer Shakti (B2B)
  • Launch of JITO (All Certified Genetic Medicine) category with prices up to 60% lower than branded alternatives
  • B2B platform serves over 62,000 retail pharmacies and partners with 700+ pharmaceutical companies
  • B2B business compounded at nearly 78% CAGR since 2019
  • Target revenue of ₹6,000 crores by FY2030 (₹4,000 crores from B2B, ₹2,000 crores from B2C)
  • Target EBITDA margin of 5% and PAT margin of 4% at scale
  • Planned expansion into beauty care and personal care by December 2026
  • Current non-medicine revenue at 2%, target to reach 10% of sales within a year

Corporate Restructuring:

  • Board approved scheme of simplification of corporate structure
  • Finance Division to be demerged and listed separately as Microsec Resources Ltd
  • Shareholders to receive 1 equity share of Microsec Resources for every 3 equity shares held in HealthX Platform
  • No change in existing shareholding of Health X Platform Ltd
  • Public shareholders of SastaSundar HealthBuddy Limited to be allotted shares of Health X Platform Limited
  • Microsec Resources asset base: Approximately ₹140 crores (₹100 crores financial assets, ₹40 crores real estate)
  • Health X Platform to retain treasury of approximately ₹400 crores

Expansion and Capex Plans:

  • Total planned capex: ₹234 crores (₹134 crores bank loans, ₹100 crores from treasury)
  • New fulfillment centers in Udaipur, Lucknow, Patna, Guwahati, and additional West Bengal capacity
  • Current warehousing capacity: 2.5 lakh square feet
  • Additional 1 lakh square feet to be operational by March 2027
  • Total planned capacity expansion: 5.52 lakh square feet
  • Total future capacity: More than 8 lakh square feet

Operational Metrics:

  • Both B2B and B2C businesses are contribution-margin positive
  • Retailer Shakti covering corporate costs and running almost at breakeven
  • Working capital cycle of 18 days among best in industry
  • Total capital deployed including 9% cost of capital: ₹259 crores
  • Current market penetration in West Bengal: 5-7%
  • Northeast growth: >50% year-by-year
  • Northern India growth: 25-30% year-by-year

Additional Notes Section

Attachments: The document references a detailed presentation filed with Stock Exchange regarding the corporate restructuring scheme

Financial Data Disclosure: Comprehensive financial data for Q4 FY26 and full year FY26 was disclosed in the transcript

Compliance Language: The call included forward-looking statements with risk disclosures, but no specific UPSI disclaimer was mentioned in the provided transcript excerpt