Zota Health Care LImited — Investor Meet, 04-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Zota Healthcare’s consolidated revenue jumped 62% YoY to INR293 Cr in FY25, driven by Davaindia retail which grew 80% YoY to INR186 Cr, contributing 64% of sales. Domestic sales rose 11% to INR63 Cr; exports increased 59% to INR32 Cr. Gross profit surged 86% to INR155 Cr.

Davaindia added 702 stores, totaling 1,582 outlets (901 COCO, 736 FOFO). Mature COCO stores deliver ~INR6.4 lakh GMV/month and INR1.5 lakh EBITDA/month, with a payback of 24-36 months. Margins stand at 50-55% consolidated; COCO stores have ~60% gross margin.

EBITDA likely flat in FY26 amid expansion of 800-900 new stores with a focus on pan-India growth, especially North and East, alongside online B2C and improved supply chain initiatives. Management is confident in scaling and competitive due to its pure generic portfolio and pharma retail expertise. Outlook remains positive with emphasis on affordable generics and deeper market reach.