$MEDPLUS

It is GOOD because Revenue +24% YoY to ₹1,864 cr; PAT +25% YoY to ₹64 cr; EBITDA margin improved to 5.8% from 5.3%. Full-year FY26 PAT +46% to ₹220 cr. Pharmacy retail is in structural growth phase with organized players growing at 20%+. Stock surged 11% post-results. Subsidiary drug license issue in Telangana/Karnataka is a minor setback offset by strong operational momentum. Over 3,000 stores operational now.