Analysts/Institutional Investor Meet/Con. Call Updates

MedPlus Health Services Limited July 24, 2026 The Listing Department The Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai – 400 051 BSE Scrip Code: 543427 NSE Symbol: MEDPLUS Dear Sir/ Madam, Sub: Submission of Transcript of Earnings Call: Pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith transcript of the Earnings Call held with analyst/ institutional investors on July 22, 2026 for the quarter ended June 30, 2026. The same will be available on the website of the Company at www.medplusindia.com and also on the websites of BSE Limited and National Stock Exchange of India Ltd. viz. www.bseindia.com and www.nseindia.com respectively. Thanking You Yours faithfully For MedPlus Health Services Limited Shrenik Soni Company Secretary & Compliance Officer (M. No. F12400) Encl: a/a 040-6724 6724 Regd. off. H. No: 11-6-56, Survey No: 257 & 258/1, Opp: IDPL Railway Siding Road, Moosapet, Kukatpally, Hyderabad – 500037, Telangana, India CIN No: L85110TG2006PLC051845 I Website: www.medplusindia.com I Email:medplus@medplusindia.com “MedPlus Health Services Limited Q1 FY27 Earnings Conference Call” July 22, 2026 Management: M r. Madhukar Gangadi- Managing Director and Chief Executive Officer Mr. Sujit Kumar Mahato - Chief Financial Officer Mr. D R N Srinivas - Sr. Manager Finance Page 1 of 18 MedPlus Health Services Limited July 22, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the MedPlus Health Services Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I would now like to hand the conference over to Mr. Srinivas. Thank you, and over to you, sir. Srinivas: Thank you, Manav. Good evening, everyone. On behalf of MedPlus, it's my utmost pleasure to welcome you all to the MedPlus Q1 FY27 Earnings Conference Call to discuss the financial results of MedPlus for the first quarter of FY27, which was announced earlier. We have with us today the senior management represented by Mr. Madhukar Reddy Gangadi Gangadi, CEO and MD; and Mr. Sujit Mahato, CFO. Before we begin, I would like to mention that some of the statements made in today's discussion may be forward-looking in nature and may involve risks and uncertainties. Please note the disclaimer mentioning these risks and uncertainties on Slide 1 of the Investor Presentation shared with all of you earlier. Documents relating to our financial performance were circulated earlier, and these have also been posted on our corporate website. I would now hand over the call to Sujit. Thank you, and over to you, Sujit. Sujit Mahato: Thank you, Srinivas, and good evening, everyone, on this call. An update on our store network, openings and closures. We have opened 222 stores at a gross level, and there were 52 store closures, including 9 relocation cases and 27 franchisee outlet closures. Additionally, 24 stores are in the process of conversion from company-owned company- operated stores to the franchise model. We achieved a net addition of 146 stores during the current quarter compared to the 218 stores added during the last quarter. We continue with the outlook for adding 800 net new stores, including the franchisee stores in FY27. In terms of our network age around 27% of our stores have been operational for less than 2 years and the remaining 73% of our stores have been operational for 2 years or more. In terms of our network and the store size, at the end of the quarter, our network grew to 5,476 stores with 2.9 million plus square feet compared to 4,813 stores and 2.5 million plus square feet at the end of June '25. The average store size is in the range of 539 square feet. Update on the revenue mix. Presently, MedPlus offers a large range of SKUs spanning across pharmaceutical and non-pharmaceutical categories. Private label sales for Q1 FY27 constitutes 20%, pharma being 10.7% and the non- pharma being 9.3% of our total revenue. Update on the financial numbers. Our consolidated revenue for the quarter is INR18,796 million. Our consolidated operating EBITDA for the quarter stood at INR651 million, representing 3.5%. Revenue from pharmacy operations grew by 21.8% Y-o-Y on a reported basis. The pharmacy operating EBITDA stood at INR588 million, representing 3.2%. An update on our store Page 2 of 18 MedPlus Health Services Limited July 22, 2026 performance, stores older than 12 months. Revenue from these stores in quarter 1 was INR16,436 million, representing 94% of pharmacy revenue. These stores had a store level EBITDA margin of 10.4% A word here on the store level EBITDA margin by age, while stores greater than 12 months had a margin of 10.4%. This was 10.6% for stores greater than 24% and 6.9% for stores in the 13 to 24 months age bracket. On allocating all non-store-related costs, the operating EBITDA of stores greater than 12 months would be INR707 million, which translates to a margin of 4.3%. An update on the working capital. Our net working capital for Q1 was 54 days. Inventory in our warehouse represented 33 days. In quarter 1, the inventory level of our first-year stores was 100 days. In comparison for our stores older than 12 months, the inventory was at 36 days. An update on our diagnostic numbers. Diagnostics revenue for the current quarter grew to INR370.8 million compared to INR302.9 million in quarter 1 FY26. Diagnostics segment recorded an operating EBITDA of INR65.9 million compared to INR41.3 million in quarter 1 FY26. In April, we sold 552 plans per day. In May and June, this was 557 and 644 plants respectively. As at end of June, we had around 2 lakh active clients. Additionally, we would like to inform that the capex proposals as approved by the Board has been put on hold by the company. We would evaluate and later inform, update the market on the utilization of the fund on the balance sheet. That concludes our update for the quarter. I request the host to open the line for questions. Moderator: We have our first question from line of Sudarshan Agarwal from Axis Capital. Sudarshan Agarwal: I think you will have a lot of questions on this. But as you said, you have put the capex plans on hold. But just want to understand the rationale behind kind of putting that strategy forth and getting it approved. So you have INR40 crores of capex for a food park and oil extraction unit and another one for the wellness services facility. So just want to understand what are we thinking in terms of strategically going ahead with these plans that we have approved? Yes, we have put it on hold, but we have more insights into how the company is thinking on investing in these aspects going ahead? That would be my first question. Madhukar Gangadi: Sudarshan, I'm happy to take you through the whole strategy if Sujit has already not announced that we are now putting it on hold. I don't think there's any point in discussing it, honestly. There was a thought and I thought that backward integration would really help, especially in areas where the products are new, supplies are not easy to find. And sometimes it is just easier to own the supply chain and all. So but we have on further deliberation, decided that we'll probably put it on hold definitely put it on hold for now and come out with a plan on how we'll actually utilize the funds. So... Page 3 of 18 MedPlus Health Services Limited July 22, 2026 Sudarshan Agarwal: This would be related to the food park. I guess you will be putting on hold the other one as well? Or is that investment continue? Madhukar G [Showing first 8,000 characters — download PDF for full document]