Sastasundar Ventures Ltd

Meeting Details

• Date and time: Aug 31, 2026, 2:00 PM IST to 3:30 PM IST
• Type and mode: Group conference, physical venue at Jio World Convention Centre, Mumbai
• Event: GIA Healthcare Day

Participants

• Company representatives attending; specific names not disclosed
• Roles: Company Secretary & Compliance Officer mentioned

Purpose

• Purpose: investor/analyst interaction with Health X Platform Ltd

Additional Notes

• Schedule subject to change; no unpublished information disclosed

Financial Performance

• Revenue from operations grew >58% YoY to INR 440 crores; QoQ +16% to INR 378 crores.
• Gross profit INR 34 crores; up 64% YoY; up 24% QoQ.
• Gross margin 7.8%, up from 7.3% in Q4 FY26.
• EBITDA loss narrowed to INR 15 crores; EBITDA margin -3.4%.
• PAT stood at INR 2 crores.
• Working capital cycle ~28 days; ~8% of revenue.
• July revenue ended at INR 150 crores.
• Tier-2/3 markets: RetailerShakti 67%; SastaSundar 78%.
• West Bengal contributes ~30% of RetailerShakti revenue.
• JITO revenue: Q4 FY26 INR 25 lakhs; current quarter INR 79 lakhs; 200% growth.
• RetailerShakti orders: 69.4% above 2,500; 42.4% above 5,000.
• SastaSundar orders: 69.2% above 1,000; 30.8% below 1,000.
• Healthbuddy to JITO conversions: 19; 25 in pipeline; ~50% in 3 months.

Operations and Geography

• Geography expansion: Odisha, Jharkhand, Bihar; Noida northern expansion.
• Approximately 67% of RetailerShakti and 78% of SastaSundar from tier-2/3 markets.
• Northeast is highest growth region; Jharkhand shows strongest growth.

Projects and Capex

• Noida warehouse completed; new Noida site operational by Aug 17.
• Guwahati expansion: 75,000 sq ft; expansion underway.
• Ranchi, Patna, Chhattisgarh ramp-ups planned this year.
• Plan to own logistics; minimize reliance on external warehouses.
• Warehouse capacity expansion aimed to support INR 2,500–3,000 crores revenue next year.

Q&A Highlights

• RetailerShakti gross margin ~7.8%; EBITDA near break-even; positive EBITDA targeted in Q3 FY27.
• Consolidated gross margin target around 12% long-term; current year 8%+ gross margin guidance.
• July run-rate ~INR 150 crores; not a formal annual forecast.
• West Bengal ~30% of RetailerShakti revenue; Northeast growth strongest; Jharkhand fastest growth.
• JITO conversions: 19 Healthbuddies converted; 25 in pipeline; ~50% in 3 months.
• SastaSundar/HealthBuddy burn funded by technology and brand investments; EBITDA not a near-term focus.

Outlook and Guidance

• FY27 to be an important year with growth momentum; profitability and capital efficiency focus.
• AI RetailAir launch scheduled this quarter; success to be confirmed next quarter.
• Strategy emphasizes expanding across geographies, deepening technology, and scaling RetailerShakti and SastaSundar.

Meeting Details

• Date and time: 11 August 2026, 4:00 PM IST; earnings conference call (virtual)

Participants

• Senior Management attended; discussed performance for quarter ended June 30, 2026 and updates

Purpose

• Purpose: discuss quarterly results and company updates with Q&A

Additional Notes

• Audio recording of the Q1 FY27 call has been made available on the company's website

Business Overview

• Health X Platform is India's AI-powered digital health platform for medicines, wellness, diagnostics.
• Core platforms are SastaSundar and RetailerShakti; segments include Healthcare Network and Financial Services.
• Formerly Sastasundar Ventures; now Health X Platform Limited.
• Ended Flipkart Health+ associate stake; now 100% ownership enabling full control.
• Strategy emphasizes capital-efficient growth, omnichannel reach, and AI-enabled data insights.

Key Operational Highlights

• 24-hour delivery covers 90% of orders; AI-led picking and routing boosts throughput.
• 350+ HealthBuddies; 3,500+ employees; 50k+ SKUs from 1,000+ vendors.
• Existing FCs: West Bengal 1.56 lakh sq ft; Noida 39,500; Guwahati 25,800; new FCs in Lucknow, Udaipur, Patna.
• Total new capacity across network amounts to 5,05,000 sq ft.
• Tier 2/3 markets drive 77.8% SS and 67% RS revenue, indicating rural-inclusive model.
• 19 JITO franchises; pipeline of 25.
• Growth track: regained 100% ownership after ending Flipkart association.

Financial Performance

• Q1 FY27 revenue ₹459.7 cr; YoY growth 58.1%.
• Gross margin ₹34.2 cr; GM% 7.8%.
• EBITDA margin -3.4%; EBITDA ₹-14.9 cr.
• PBT ₹2.0 cr; PAT ₹2.0 cr; PAT margin 0.5%.
• CFO ₹-73.8 cr; investing ₹171.2 cr; financing ₹-79.6 cr; net cash increase ₹17.8 cr; end cash ₹30.2 cr.
• Total assets ₹935.8 cr; total equity ₹765.3 cr; borrowings ₹22.1 cr; inventories ₹144.6 cr.

Capital Structure & Liquidity

• Total capital raised (historical) ₹352 cr; total deployed ₹783 cr; buyback ₹100 cr; net deployed ₹683 cr.
• Working capital days 28; inventories ₹144.6 cr; receivables ₹7.7 cr; payables ₹86.0 cr.
• Cash balance ₹30.2 cr; borrowings ₹22.1 cr; net liquidity position modest.
• Significant prior capital deployment supports platform scale and FC network expansion.

Strategic Priorities & Outlook

• Expand 24-hour delivery across Tier 1–3; scale FC footprint to ~5,05,000 sq ft.
• Invest in AI, data-driven omnichannel, and last-mile logistics to drive growth and margin.
• Promote preventive care and inclusive healthcare across geographies; strengthen rural reach.
• Maintain capital efficiency to achieve a sustainable path to profitability.

Governance & Leadership

• Founder-leadership: B.L. Mittal as Executive Chairman/MD/CEO; Ravi Kant Sharma as Non-Executive Director.
• 100% ownership and full control of SastaSundar platform; governance focused on capital efficiency.
• Scale operations with 3,500+ employees and a broad supplier ecosystem.

Financial results and approvals

• Unaudited standalone and consolidated results for the quarter ended 30 June 2026 approved.
• Limited Review Report by statutory auditors attached; results reviewed by Audit Committee.

Independent director appointment

• Re-appointment of Anjana Dikshit as Independent Director for second five-year term from 10 November 2026.
• Subject to shareholders' approval before conclusion of the first term.

Scheme of Arrangement and Amalgamation

• Approved composite Scheme of Arrangement and Amalgamation among Health X, MRPL, and Innogrow.
• Effective from 01 April 2026; subject to requisite approvals.
• No accounting effect on results pending approvals.

Auditor remarks and going concern

• Emphasis of Matter: going concern uncertainty related to Genu Path Labs Limited.
• Auditors' opinion on the interim results is not modified.

Meeting Details

• Board meeting scheduled for 7 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter ended 30 June 2026.

Other Notes

• Trading window to remain closed until 48 hours after declaration of the financial results.

Dematerialisation processing and listing

• Dematerialisation requests processed; confirmations sent to depositories; securities listed on stock exchanges.
• Certificates for dematerialisation mutilated and cancelled after verification; depository name substituted as registered owner within timelines.