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Medplus Health Services Limited (MEDPLUS) Fair Value & Analysis

Healthcare · IN · Market cap ₹98.1B (≈ $1.0B) · ISIN INE804L01022

What is Medplus Health Services Limited really worth?

MH Medplus Health Services Limited MEDPLUS · NSE
Price₹676.35
Fair Value₹682.65
Upside+0.9%
Quality60/100

A solid business, currently priced close to our fair value of ₹682.65.

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Strengths

Healthy Growth (revenue 5y +17.6 %/yr)
Low debt · generates free cash flow
Ranks above peers (9/13)

Risks

!Thin margins · 3.2% net margin
!Narrow moat 38/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range ₹475.94 – ₹864.25

Fair value as of: Aug 27, 2026

From 24 valuation models · updated 9 days ago

Fair value updated Aug 27, 2026, revised from ₹379.25 to ₹682.65 (+80.0%) since Aug 13, 2026. Share price −2.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (₹475.94 to ₹864.25) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

₹1,290 ₹576.30 Fair Value ₹682.65 Dec 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

56‑month range ₹576.30 – ₹1,290 · fair‑value band ₹475.94 – ₹864.25 · the ₹676.35 price screens below the ₹682.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Medplus Health Services Limited (MEDPLUS) currently trades at ₹676.35, while our model-based Fair Value estimate is ₹682.65, implying the stock looks roughly 0.9% fairly valued today. The Quality Score stands at 60/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of ₹661.21 per share, and 7 of the 24 models we run sit above the ₹676.35 price. Bear case: the Asset-Based group reads lowest at ₹110.21, and 17 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Medplus Health Services Limited generated revenue of ₹68.9B at a net margin of 3.2%. Revenue grew 23.5% year over year. It earns a return on equity of 11.8%. Net debt stands at ₹9.6B. Fundamentals as of Aug 27, 2026

Our scenario range runs from ₹475.94 (bear case) to ₹864.25 (bull case); at ₹676.35, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at 1%, MEDPLUS screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹7.87 per share, which is 1.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF ₹503.47 ₹929.38 ₹1,787 76
Growth DCF ₹493.77 ₹886.73 ₹1,587 75
EPV ₹251.65 ₹287.17 ₹318.26 74
All 24 models by family
DCF Models
FCF DCF ₹503.47 ₹929.38 ₹1,787 76
Owner Earnings ₹475.30 ₹896.48 ₹1,681 73
5Y Revenue Exit ₹353.03 ₹586.24 ₹907.27 71
5Y EBITDA Exit ₹503.08 ₹911.63 ₹1,443 73
5Y P/E Exit ₹369.12 ₹621.11 ₹917.48 70
10Y Revenue Exit ₹389.48 ₹634.90 ₹1,025 65
10Y EBITDA Exit ₹500.06 ₹880.43 ₹1,497 66
10Y P/E Exit ₹409.33 ₹661.21 ₹1,034 63
Earnings-Based
Graham-Dodd ₹124.38 ₹679.97 ₹943.15 63
Lynch FV ₹188.98 ₹269.98 ₹350.97 61
PEG = 1.0 ₹188.98 ₹269.98 ₹350.97 57
EPV ₹251.65 ₹287.17 ₹318.26 74
Multiples
P/E Multiple ₹288.08 ₹384.11 ₹480.14 63
P/S Multiple ₹233.21 ₹310.95 ₹388.68 58
P/B Multiple ₹233.21 ₹310.95 ₹388.68 55
EV/EBIT ₹383.02 ₹497.86 ₹612.71 66
EV/EBITDA ₹531.62 ₹696.00 ₹860.37 67
EV/Revenue ₹284.39 ₹389.78 ₹495.16 54
Asset-Based
NCAV (Graham) ₹82.25 ₹110.21 ₹164.50 54
Growth DCF
Growth DCF ₹493.77 ₹886.73 ₹1,587 75
Rev-Margin DCF ₹353.03 ₹580.72 ₹891.29 71
Economic Profit
Residual Income ₹148.92 ₹171.10 ₹317.71 68
ROIC Compounder ₹287.13 ₹386.57 ₹522.70 71
Growth Earnings
Growth-Adj P/E ₹275.37 ₹393.38 ₹511.40 67

Widest divergence: DCF Models (₹661.21) versus Asset-Based (₹110.21). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 37.0
P/S ratio 1.18 P/E × margin
EPS (TTM) ₹18.29 price ÷ EPS = P/E 37.0
Net margin 3.2% FY2026
Return on equity 11.8% TTM
Return on assets (EBIT) 15.7% avg 5y
More key figures
Profitability
Operating margin 5.0% TTM
Growth
Revenue (TTM) ₹68.9B TTM
Revenue growth (YoY) +23.5% 3y avg +14.8%
EPS growth (YoY) +24.1%
Balance sheet & cash flow
Free cash flow ₹4.0B FY2026
Net debt ₹9.6B FY2026 · ≈ 2.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 34

Profitability 49
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

MedPlus Health Services Limited engages in the retail trading of medicines and general items in India. It manufactures and trades in pharmaceutical and wellness products, such as prescription medicines, over-the-counter drugs, vitamins, medical devices, and diagnostic test kits; and fast-moving consumer goods (FMCG), including personal and home care …

Full company description

MedPlus Health Services Limited engages in the retail trading of medicines and general items in India. It manufactures and trades in pharmaceutical and wellness products, such as prescription medicines, over-the-counter drugs, vitamins, medical devices, and diagnostic test kits; and fast-moving consumer goods (FMCG), including personal and home care products like toiletries, baby care items, soaps, detergents, and sanitizers. The company also engages in wholesale cash and carry; provision of diagnostic, pathological, and laboratory testing services, as well as contract manufacturing of private-label pharmaceuticals, wellness products, and FMCG goods; and operates diagnostic centres. It distributes its products through retail and online channels. The company was incorporated in 2006 and is based in Hyderabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Medplus Health Services Limited reported revenue of ₹68.9B in FY2026 versus ₹37.8B in FY2022, a compound +16.2%/yr. Reported net income was ₹2.2B in FY2026, compounding +23.1%/yr from FY2022.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹68.9B
Latest YoY
+12.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.8%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.6%
Avg. revenue growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.2%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+25.4% (25.4 + 0.0)
Revenue +16.2%/yr
FY22 ₹37.8B
FY23 ₹45.6B
FY24 ₹56.2B
FY25 ₹61.4B
FY26 ₹68.9B
Net income +23.1%/yr
FY22 ₹958M
FY23 ₹498M
FY24 ₹655M
FY25 ₹1.5B
FY26 ₹2.2B

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Cite: Fair Value Calculator (2026). "Medplus Health Services Limited Fair Value". https://www.fairvalue-calculator.com/stock/MEDPLUS

Peer Group

Pharmaceutical Retailers · 57 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 60 · Top 25%
Fair Value upside +1% · Above median
Return on equity (TTM) 12% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 3% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth 24% · Top 25%

Valuation Multiples vs Pharmaceutical Retailers median · lower = cheaper

P/E (TTM) 37.0× · Pricier than 75% of peers
P/B 4.97× · Pricier than 75% of peers
P/S (TTM) 1.42× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 23.2× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE35 · sector 20
FUTURE100 · sector 19
PAST47 · sector 15
HEALTH100 · sector 98
DIVIDEND0 · sector 63

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Pharmaceutical Retailers stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
JD Health International Inc 6618 HK$38.86 HK$33.31 −14%
Alibaba Health Information Technology Limited 0241 HK$3.26 HK$2.04 −37%
Yifeng Pharmacy Chain Co 603939 ¥22.90 ¥29.07 +27%
DaShenLin Pharmaceutical Group 603233 ¥18.79 ¥23.86 +27%
LBX Pharmacy Chain Joint Stock Company 603883 ¥13.44 ¥10.57 −21%
Yixintang Pharmaceutical Group 002727 ¥11.61 ¥9.45 −19%
Anhui Huaren Health Pharmaceutical Co 301408 ¥16.31 ¥10.05 −38%
ShuYu Civilian Pharmacy Corp 301017 ¥13.30 ¥5.91 −56%
Apotea AB APOTEA kr 74.15 kr 46.46 −37%
Luyan Pharma Co 002788 ¥10.96 ¥15.91 +45%

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Frequently asked questions

Is Medplus Health Services Limited (MEDPLUS) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of ₹682.65 versus a price of ₹676.35, about +1% upside (fairly valued).
What is the fair value of MEDPLUS?
Our model-based fair value for Medplus Health Services Limited is ₹682.65 (as of Aug 27, 2026), built from audited fundamentals. The current price: ₹676.35.
What is the quality score of MEDPLUS?
Medplus Health Services Limited has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Medplus Health Services Limited (MEDPLUS)?
Medplus Health Services Limited reported trailing-twelve-month revenue of about ₹68.9B (latest available figure, as of Aug 27, 2026).
What is the net profit margin of MEDPLUS?
The net profit margin of Medplus Health Services Limited is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
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