Health X Platform Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Digital Pharmacy & Healthcare Store: 97.9% • Financial and Investment Management Activities: 2.1%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Asset quality is healthy - gross NPA of just 0.0%
- Company has delivered good sales growth of 23.6% CAGR over last 5 years
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Recent results are weak - TTM profit is down 129.5% versus prior year
- Company has a low return on capital employed of -15.8%
- Company has a low return on equity of -10.2% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCE | 1055.00 | 32.35 | 656838.18 | 0.57 | 6080.60 | 27.60 | 23165.45 | 20.37 | 10.87 | 70.70 |
| SHRIRAMFIN | 1029.95 | 21.41 | 242345.54 | 1.05 | 3452.77 | 59.90 | 13400.43 | 17.46 | 11.49 | 74.63 |
| TATACAP | 367.80 | 28.89 | 156126.28 | 0.15 | 16281.80 | 1464.16 | 88219.30 | 1051.00 | 8.66 | 75.72 |
| CHOLAFIN | 1824.90 | 27.10 | 155858.50 | 0.11 | 1656.22 | 45.56 | 8856.29 | 21.89 | 9.70 | 70.07 |
| JIOFIN | 233.50 | 74.61 | 154183.36 | 0.26 | 830.25 | 155.73 | 2004.47 | 227.28 | 2.11 | 69.71 |
| BAJAJHLDNG | 11055.60 | 13.89 | 123041.65 | 1.76 | 2708.08 | -92.27 | 394.33 | 23.34 | 14.81 | 684.72 |
| MUTHOOTFIN | 2896.70 | 10.23 | 116293.37 | 1.04 | 2824.84 | 43.08 | 8671.60 | 36.25 | 15.87 | 83.76 |
| ABCAPITAL | 396.20 | 26.43 | 108461.67 | 0.00 | 1223.85 | 43.85 | 12179.54 | 137.84 | 8.82 | 41.91 |
| LTF | 308.50 | 24.30 | 77320.98 | 0.89 | 915.99 | 30.70 | 5212.92 | 22.38 | 8.54 | 62.13 |
| SBICARD | 668.55 | 27.96 | 63622.10 | 0.37 | 664.44 | 19.51 | 5040.55 | 7.60 | 11.75 | 29.83 |
| HDBFS | 682.70 | 26.07 | 56716.32 | 0.59 | 785.20 | 38.31 | 4937.90 | 18.71 | 9.09 | 57.98 |
| HEALTHX | 302.60 | 0.00 | 962.59 | 0.00 | 1.99 | -92.53 | 446.85 | 2146.61 | -28.40 | -1.87 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 336 | 353 | 374 | 307 | 7 | 273 | 1 | 286 | 20 | 301 | 4 | 374 | 447 | |
| 327 | 355 | 371 | 317 | 273 | 278 | 305 | 311 | 292 | 324 | 356 | 399 | 458 | |
| Operating Profit | 9 | 3 | 3 | -11 | -0 | -384 | -28 | -25 | 6 | -23 | -10 | -27 | -8 |
| OPM % | 2.76% | 0.95% | 0.91% | -3.47% | -5.47% | -140.48% | -2070.59% | -8.62% | 30.52% | -7.62% | -233.33% | -7.26% | -1.87% |
| Other Income | 12 | 10 | 20 | 18 | 28 | 22 | -12 | 22 | 25 | 6 | 14 | 14 | 13 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 2 | 2 | 2 | 3 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| 19 | 11 | 21 | 5 | 25 | -174 | -39 | -5 | 30 | -19 | 1 | -15 | 2 | |
| Tax % | -28.85% | -53.38% | 0.67% | -583.23% | -102.80% | 13.17% | -1.99% | 479.70% | 11.92% | 17.17% | 59.78% | 12.54% | -0.61% |
| Net Profit | 0 | 0 | 0 | 0 | 41 | -155 | -38 | 18 | 27 | -15 | 0 | -13 | 2 |
| 0 | -2 | -0 | 5 | 10 | -34 | -8 | 4 | 8 | -4 | 0 | -4 | 0 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 86 | 133 | 159 | 220 | 385 | 548 | 631 | 1,040 | 1,376 | 1,111 | 1,126 | |
| 117 | 155 | 174 | 255 | 440 | 561 | 678 | 1,083 | 1,370 | 1,167 | 1,537 | |
| Operating Profit | -31 | -22 | -15 | -35 | -55 | -13 | -47 | -43 | 5 | -56 | -410 |
| OPM % | -35.87% | -16.75% | -9.49% | -16.03% | -14.17% | -2.32% | -7.44% | -4.13% | 0.40% | -5.04% | -36.43% |
| 3 | 4 | 9 | 2 | 3 | 3 | 1,169 | 16 | 60 | -131 | 45 | |
| Interest | 1 | 3 | 1 | 3 | 1 | 3 | 3 | 2 | 1 | 0 | 1 |
| Depreciation | 7 | 7 | 6 | 6 | 5 | 4 | 4 | 8 | 9 | 6 | 7 |
| Profit before Tax | -37 | -28 | -12 | -42 | -58 | -16 | 1,109 | -122 | -30 | -204 | -31 |
| Tax % | 0.76% | -2.21% | -19.15% | -2.66% | 9.45% | -4.43% | 22.03% | 18.64% | 119.19% | 34.43% | 14.79% |
| Net Profit | -37 | -29 | -15 | -43 | -52 | -17 | 865 | -99 | 6 | -134 | -26 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -3.27 | 197.04 | -22.70 | 2.79 | -28.66 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 37%
- 5 Years:
- 24%
- 3 Years:
- 21%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 26%
- 3 Years:
- -10%
- Last Year:
- -19%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | |
| Minority Interest | 0 | 0 | 28 | 58 | 36 | 29 | 268 | 240 | 237 | 195 |
| 186 | 158 | 144 | 106 | 173 | 163 | 790 | 717 | 726 | 638 | |
| 19 | 20 | 12 | 0 | 5 | 10 | 0 | 0 | 0 | 0 | |
| Trade Payables | 7 | 21 | 9 | 14 | 50 | 39 | 33 | 57 | 43 | 59 |
| 21 | 25 | 13 | 22 | 19 | 20 | 155 | 159 | 112 | 40 | |
| Total Liabilities | 265 | 256 | 238 | 232 | 316 | 293 | 1,278 | 1,204 | 1,149 | 963 |
| 126 | 125 | 117 | 116 | 114 | 110 | 93 | 104 | 108 | 100 | |
| Capital Work in Progress | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 10 |
| 10 | 17 | 46 | 36 | 56 | 43 | 666 | 513 | 676 | 575 | |
| 16 | 24 | 28 | 33 | 77 | 77 | 114 | 181 | 116 | 110 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35 | 10 | |
| Cash & Bank | 13 | 34 | 13 | 7 | 18 | 13 | 212 | 195 | 47 | 12 |
| 100 | 57 | 33 | 39 | 51 | 49 | 192 | 210 | 168 | 145 | |
| Total Assets | 265 | 256 | 238 | 232 | 316 | 293 | 1,278 | 1,204 | 1,149 | 963 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -12 | -3 | -48 | -30 | -70 | -30 | -94 | -116 | 36 | -17 | |
| Cash from Investing | -1 | 4 | 21 | -2 | -22 | 21 | 220 | 133 | -34 | -1 |
| Cash from Financing | 13 | 5 | 33 | 26 | 103 | 4 | -11 | -2 | -2 | -0 |
| -0 | 7 | 5 | -6 | 11 | -5 | 1 | 19 | -0 | -19 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - Health X Platform Limited has informed the Exchange about Copy of Newspaper Publication regarding Notice of the 37th Annual General Meeting and e-voting information
2026-09-04 - Health X Platform Limited has informed the Exchange regarding 'Dispatch of letter to shareholders whose e-mail addresses are not registered with the Company or RTA or Depository Participants' - under Reg 30 and Reg 36(1)(b) of SEBI LODR Reg..
2026-09-04 - Health X Platform Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report of the Company for the FY 2025-26 '.
2026-09-04 - Health X Platform Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026 at 3.00 PM (IST)
2026-09-01 - Health X Platform Limited has informed the Exchange about Copy of Newspaper Publication for Information to the shareholders regarding the 37th AGM of the Company to be held on Monday, September 28, 2026
2026-08-31 - Health X Platform Limited has informed the Exchange regarding 'Intimation regarding the 37th Annual General Meeting of the Company '.
2026-08-25 - Health X Platform Limited has informed the Exchange about Schedule of meet
2026-08-17 - Health X Platform Limited has informed the Exchange about Transcript
2026-08-11 - Health X Platform Limited has informed the Exchange about Link of Recording
News
Recent coverage and analyst commentary for HEALTHX
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Health X Platform Ltd.
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