BSECompany Update7 Aug 2026 · 7 Aug 2026, 07:26 pm
Please find attached the Investor Presentation of the Company
Health X Platform Ltd · 533259
✦ AI Summary▲ PositiveResults
Health X Platform Ltd has released an investor presentation highlighting its revenue growth, expanding gross margin, and operating leverage. The company's capital allocation philosophy is based on Warren Buffett's discipline of real, capital-efficient earnings and Jeff Bezos's patience to reinvest in technology and infrastructure.
Analysis Scores
Earnings Impact8/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment8/10
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Full Announcement
Health X Platform Ltd - 533259 - Announcement under Regulation 30 (LODR)-Investor Presentation
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Date: 07-08-2026
To To
The General Manager The Manager
Department of Corporate Services Listing Department
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Tower Exchange Plaza, Bandra Kurla Complex
Dalal Street, Mumbai - 400 001 Mumbai - 400 051
Ref: BSE Scrip Code: 533259; NSE Symbol: HEALTHX
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 - Investor Presentation
Dear Sir/ Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
please find attached herewith the Investor Presentation of the Company.
This is for your information and record.
Thanking you,
Yours faithfully,
For Health X Platform Limited
(formerly known as Sastasundar Ventures Limited)
Pratap Singh
Company Secretary & Compliance Officer
M. No.: A24081
Encl: As above
Health X is India’s AI-powered digital health platform- making medicines, wellness and
diagnostics accessible, affordable, and trustworthy from the busiest city to the last village
Health X Platform Limited
(erstwhile Sastasundar Ventures Limited)
August 2026
Safe Harbour
Thispresentationandtheaccompanyingslides(the“Presentation”),whichhavebeenpreparedbyHealthXPlatformLimited(erstwhileSastasundar
Ventures Limited) (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or
invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding
commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing
detailedinformationabouttheCompany.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company
makesnorepresentationorwarranty,expressorimplied,whatsoever,andnorelianceshallbeplacedonthetruth,accuracy,completeness,fairness
andreasonablenessofthecontentsofthisPresentation.ThisPresentationmaynotbeallinclusiveandmaynotcontain alloftheinformationthat
youmayconsidermaterial.Anyliabilityinrespectofthecontentsof,oranyomissionfrom,thisPresentation isexpresslyexcluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that
are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are
subjecttoknownandunknownrisks,uncertaintiesandassumptionsthataredifficulttopredict.Theserisksanduncertaintiesinclude,butarenot
limitedto,theperformanceoftheIndianeconomyandoftheeconomiesofvariousinternationalmarkets,theperformanceoftheindustryinIndia
and world-wide, competition, the Company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion,
technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its
exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ
materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-
looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this
Presentation arenotadoptedbytheCompanyandtheCompanyisnotresponsibleforsuchthird-partystatementsandprojections.
Allmaps usedin the Presentation are not to scale. All data, information and maps are provided "as is" without warranty or any representation of
accuracy,timelinessorcompleteness.
Key Highlights at a Glance
01 High Revenue Growth Continuous Q-o-Q Y-o-Y
Sustained top-line momentum across all channels. ▲16% ▲47%
02 Expanding Gross Margin
Gross Margin widening on better sourcing, private-label mix and channel
Comparative
optimisation. Current Qtr Quarter Change
2A June -26 vs March-26 7.9% 7.5% ▲40bps
2B June -26 vs June-25 7.9% 6.6 % ▲130bps
03 Operating Leverage –Revenue Vs OpexCost
Opex falling as a % of revenue; EBIT margin expanding towards Gross
Comparative
Margin as the fixed-cost base is absorbed by scale.
Current Qtr Quarter Change
3A June -26 vs March-26 11.6% 13.3% ▼170bps
3B June -26 vs June-25 11.6% 11.0 % ▲60bps
04 Minimal Depreciation & Finance Cost (Depreciation + Finance Cost) / Revenue
Asset-light, low-leverage model keeps Depreciation and finance cost a small
0.7%
share of revenue.
05 Working Capital Efficiency Net working-capital days
Disciplined receivables, inventory and payables cycle drives strong cash
28days
conversion.
#Q-o-Q compares the Quarter June-26 with Quarter March -26; Y-o-Y compares the Quarter June-26 with Quarter June -25)
*Growth, Gross Margin and Operating Leverage is excluding Financial Services revenue.
Philosophies of Capital Allocation
Warren Buffett -Real Earnings, Real Discipline
HealthX: Where Discipline Meets Patience
• Distrusts EBITDA -it ignores real, unavoidable costs like
Depreciation
“Built on Buffett’s discipline of real, capital-efficient
earnings- combined with Bezos’s patience to reinvest in
• Measures success through owner earnings: net income (+)
the technology, brand, and infrastructure that earns
Depreciation and Amortisation(-) the capex needed to stay
India’strustinhealthcare”.
competitive.
• Prizes sustained, low-leverage ROE —capital efficiency proven Discipline:
over decades, not one good quarter
A capital - efficient, real - earnings mindset across
Jeff Bezos -Cash flow and Long-term Compounding SastaSundar and RetailerShakti - every rupee of
capitalheldtoaccount.
• Prioritizes free cash flow per share over reported GAAP profit
as the true measure of value
Patience:
• Willingly deferred ROCE for years —running thin margins to
Sustained reinvestment in technology, brand &
fund the flywheel
infrastructure -- building the trust that compounds
• Reinvested nearly all operating cash into infrastructure, intolong-termmarketposition.
logistics, and new bets to build durable market position
The HealthX Ecosystem — X-Factor
Innovation Value
powered by deliveredwith
Technology Efficiency
Impactdrivenby Trustbuilton
Empathy Authenticity
Growth Track Record
SastaSundar -Pre-FKH SastaSundar –During FKH SastaSundar –Post-FKH
▲68% ▼35% ▲64%
44 44.5
Sales
2014-15 2020-21 2021-22 2024-25
Q4 Q1 Q2 Q3 Q4 Q1
FY25 FY26 FY26 FY26 FY26 FY27
2014-15 2020-21 2021-22 2024-25
Sales (in Crs) 26 32 42 44 44 48
Sales (in Crs) 21 474 Sales (in Crs) 510 135
CAGR* 64 %
CAGR* 68% CAGR* 35%
Despite recent growth volatility during the partnership with Flipkart, the company successfully leveraged this transition as a strategic
opportunity to regain full control. Following Flipkart's decision to streamline its healthcare operations, the partnership ended, resulting in the
cessation of Flipkart Health+ as an associate company in FY25. By transitioning from a 25% minority stake back to 100% ownership, the
companyisnowfullycapitalizedandideallypositionedwithcompleteoperationalcontrolovertheSastaSundarplatformtodrivefuturescaling.
*CAGR Annualized
Growth Track Record
Retailer Shakti
▲96%
1200 1125
1000 950
2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26
2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26
Sales (in Crs) 20 66 113 212 489 950 1125
CAGR 96%
*CAGR Annualized 15
Capital Efficiency & Working Capital
Total Capital Deployed
Working Capital Quarter ended
Working Capital (No of Days) Jun-26 Mar-26 Jun-25 Mar-25
Amount
Particulars
(₹ in Crs) Inventory 39 34 36 35
Receivable 3 4 6 7
Total Capital Raised 352
Payable 14 20 11 19
Working Capital (No of Days) 28 18 32 23
Cost of Capital (post-tax) @9% p.aXIRR 431
Working Capital % of Revenue 8% 5% 9% 6%
Working Capital ₹ in Crs 128 74 95 73
Total Capital deployed with cost of capital 783
Working Capital Days ↓ 11% YOY
Capital Bou
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