MedPlus Health Services IPO - At Inflection Point: Prabhudas Lilladher

MedPlus Health Services IPO - At Inflection Point: Prabhudas Lilladher

<div class="paragraphs"><p>A pharmacist looks for medicine.&nbsp; &nbsp;(Photographer: Simon Dawson/Bloomberg)</p></div>
A pharmacist looks for medicine.   (Photographer: Simon Dawson/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher's IPO Report

We are optimistic about Medplus Health Services Ltd., a compelling omni- channel play in healthcare retailing as-

  1. profitable operations despite higher discounts across omni-channel deliveries, given its fully integrated offerings and

  2. huge scope to grow as industry moves from unorganised to organised omni- channel players (10% compound annual growth rate in Indian retail pharmacy market in next five years).

We expect Medplus will gain scale and profitability given-

  1. faster pace of store expansion (60-70 new stores/month),

  2. benefits of economic of scale and

  3. faster break-even with increasing contribution of private labels over medium term.

Click on the attachment to read the full IPO report:

Prabhudas Lilladher Medplus Health Services IPO Note.pdf


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