# Pharmacy Distribution — company-by-company sector analysis

> Pharmacy Distribution: Medplus Health Services Ltd owns the largest revenue base; Entero Healthcare Solutions Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-05. Not investment advice.

## Bottom line

Pharmacy Distribution has underperformed NIFTY 500 by 6.4% over 52 weeks and 3.2% over 13 weeks. 3 of 4 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself. Medplus Health Services Ltd leads with revenue of ₹7,229 crore, based on 4 of 4 comparable companies through Jun 2026.

## Sector relative strength

Pharmacy Distribution has underperformed NIFTY 500 by 6.4% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 3.2%. 3 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Entero Healthcare Solutions Ltd is the strongest against the sector itself at +6.9%. Readings are as of 2026-07-19.

13-week sector return versus NIFTY 500: -3.2%
52-week sector return versus NIFTY 500: -6.4%
Stocks leading NIFTY: 3/4
Stocks leading sector: 1/3

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 4
Combined market value: ₹15.7K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Entero Healthcare Solutions Ltd (ENTERO): 64/100 — Mixed-positive evidence; evidence 68%
   - Growth & earnings 26.0/35 | Capital efficiency 8.3/25 | Valuation 10.0/20 | Relative strength 20.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks
   - Exact sum: 26 + 8.3 + 10 + 20 = 64.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Health X Platform Ltd (HEALTHX): 47/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 25.2/35 | Capital efficiency 0.6/25 | Valuation 10.0/20 | Relative strength 11.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of 4 weeks with a reading, within the last 12
   - Exact sum: 25.2 + 0.6 + 10 + 11 = 46.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. Medplus Health Services Ltd (MEDPLUS): 46/100 — Mixed-negative evidence; evidence 97%
   - Growth & earnings 20.5/35 | Capital efficiency 9.5/25 | Valuation 16.0/20 | Relative strength 0.0/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks
   - Exact sum: 20.5 + 9.5 + 16 + 0 = 46
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Sastasundar Ventures Ltd (SASTASUNDR): 40/100 — Thin evidence · provisional; evidence 49%
   - Growth & earnings 19.4/35 | Capital efficiency 5.4/25 | Valuation 7.5/20 | Relative strength 7.8/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks, ending 2026-03-29 (no longer priced)
   - Exact sum: 19.4 + 5.4 + 7.5 + 7.8 = 40.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

Entero Healthcare Solutions Ltd has the strongest one-year price move in Pharmacy Distribution at +2.2%. It also leads on Mansfield relative strength against NIFTY at +6.6%. 3 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

### Strongest one-year price performers
1. Entero Healthcare Solutions Ltd (ENTERO): 2.2%
2. Sastasundar Ventures Ltd (SASTASUNDR): -7.0%
3. Medplus Health Services Ltd (MEDPLUS): -21%

### Strongest relative strength versus NIFTY 500
1. Entero Healthcare Solutions Ltd (ENTERO): 6.6%
2. Sastasundar Ventures Ltd (SASTASUNDR): 4.5%
3. Health X Platform Ltd (HEALTHX): 2.1%
4. Medplus Health Services Ltd (MEDPLUS): -16%

## Revenue Scale & Growth Durability

What the numbers say: Medplus Health Services Ltd is the scale leader at ₹7,229 crore, 9.7% ahead of Entero Healthcare Solutions Ltd. Entero Healthcare Solutions Ltd's growth is 29.4% from a ₹6,592 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Medplus Health Services Ltd is the scale benchmark; Entero Healthcare Solutions Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Medplus Health Services Ltd's growth falls below Entero Healthcare Solutions Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Medplus Health Services Ltd · ₹7,229 crore | 9.7% versus #2 · Entero Healthcare Solutions Ltd | 8/8 recent comparable periods | 4/4 companies · 61 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Medplus Health Services Ltd (MEDPLUS): ₹7.2K Cr
2. Entero Healthcare Solutions Ltd (ENTERO): ₹6.6K Cr
3. Health X Platform Ltd (HEALTHX): ₹1.3K Cr
4. Sastasundar Ventures Ltd (SASTASUNDR): ₹1.2K Cr — older report

### Revenue growth — fastest growers
1. Entero Healthcare Solutions Ltd (ENTERO): 29%
2. Health X Platform Ltd (HEALTHX): 19%
3. Medplus Health Services Ltd (MEDPLUS): 17%
4. Sastasundar Ventures Ltd (SASTASUNDR): 8.8% — older report

### 20-quarter Revenue history
- MEDPLUS: Sep 2021 ₹925 Cr | Dec 2021 ₹933 Cr | Mar 2022 ₹966 Cr | Jun 2022 ₹994 Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.7K Cr | Dec 2025 ₹1.8K Cr | Mar 2026 ₹1.9K Cr | Jun 2026 ₹1.9K Cr
- ENTERO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹829 Cr | Mar 2023 ₹887 Cr | Jun 2023 ₹899 Cr | Sep 2023 ₹996 Cr | Dec 2023 ₹993 Cr | Mar 2024 ₹1.0K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹1.9K Cr | Jun 2026 —
- HEALTHX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹281 Cr | Mar 2023 ₹313 Cr | Jun 2023 ₹336 Cr | Sep 2023 ₹358 Cr | Dec 2023 ₹374 Cr | Mar 2024 ₹307 Cr | Jun 2024 ₹270 Cr | Sep 2024 ₹274 Cr | Dec 2024 ₹281 Cr | Mar 2025 ₹286 Cr | Jun 2025 ₹298 Cr | Sep 2025 ₹301 Cr | Dec 2025 ₹346 Cr | Mar 2026 ₹374 Cr | Jun 2026 —
- SASTASUNDR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹281 Cr | Mar 2023 ₹313 Cr | Jun 2023 ₹336 Cr | Sep 2023 ₹358 Cr | Dec 2023 ₹375 Cr | Mar 2024 ₹307 Cr | Jun 2024 ₹270 Cr | Sep 2024 ₹274 Cr | Dec 2024 ₹281 Cr | Mar 2025 ₹286 Cr | Jun 2025 ₹298 Cr | Sep 2025 ₹301 Cr | Dec 2025 ₹346 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Revenue growth history
- MEDPLUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 21% | Dec 2022 28% | Mar 2023 30% | Jun 2023 29% | Sep 2023 26% | Dec 2023 21% | Mar 2024 19% | Jun 2024 16% | Sep 2024 12% | Dec 2024 8.3% | Mar 2025 1.3% | Jun 2025 3.6% | Sep 2025 6.5% | Dec 2025 16% | Mar 2026 23% | Jun 2026 22%
- ENTERO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 20% | Mar 2024 17% | Jun 2024 22% | Sep 2024 31% | Dec 2024 37% | Mar 2025 30% | Jun 2025 28% | Sep 2025 21% | Dec 2025 26% | Mar 2026 43% | Jun 2026 —
- HEALTHX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 33% | Mar 2024 -1.9% | Jun 2024 -20% | Sep 2024 -23% | Dec 2024 -25% | Mar 2025 -6.8% | Jun 2025 10% | Sep 2025 9.9% | Dec 2025 23% | Mar 2026 31% | Jun 2026 —
- SASTASUNDR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 33% | Mar 2024 -2.1% | Jun 2024 -20% | Sep 2024 -24% | Dec 2024 -25% | Mar 2025 -6.8% | Jun 2025 10% | Sep 2025 10% | Dec 2025 23% | Mar 2026 — | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Medplus Health Services Ltd leads opm at 7%; Sastasundar Ventures Ltd leads margin change at +5.4 percentage points.

Investor read: Medplus Health Services Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Medplus Health Services Ltd · 7% | 55.6% versus #2 · Entero Healthcare Solutions Ltd | 6/8 recent comparable periods | 4/4 companies · 72 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Medplus Health Services Ltd (MEDPLUS): 7.0%
2. Entero Healthcare Solutions Ltd (ENTERO): 4.5%
3. Sastasundar Ventures Ltd (SASTASUNDR): -3.0% — older report
4. Health X Platform Ltd (HEALTHX): -7.0%

### Margin change — fastest expanders
1. Sastasundar Ventures Ltd (SASTASUNDR): +5.4 pp — older report
2. Health X Platform Ltd (HEALTHX): +2.0 pp
3. Entero Healthcare Solutions Ltd (ENTERO): +0.9 pp
4. Medplus Health Services Ltd (MEDPLUS): −1.0 pp

### 20-quarter OPM history
- MEDPLUS: Sep 2021 6.7% | Dec 2021 6.6% | Mar 2022 5.4% | Jun 2022 5.3% | Sep 2022 5.3% | Dec 2022 6.0% | Mar 2023 7.0% | Jun 2023 6.0% | Sep 2023 6.0% | Dec 2023 6.0% | Mar 2024 7.0% | Jun 2024 6.0% | Sep 2024 8.0% | Dec 2024 8.0% | Mar 2025 9.0% | Jun 2025 8.0% | Sep 2025 9.0% | Dec 2025 9.0% | Mar 2026 9.0% | Jun 2026 7.0%
- ENTERO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 1.6% | Dec 2022 2.0% | Mar 2023 2.3% | Jun 2023 2.9% | Sep 2023 2.9% | Dec 2023 2.9% | Mar 2024 2.8% | Jun 2024 2.8% | Sep 2024 3.3% | Dec 2024 3.7% | Mar 2025 3.6% | Jun 2025 3.6% | Sep 2025 4.0% | Dec 2025 4.0% | Mar 2026 4.5% | Jun 2026 —
- HEALTHX: Sep 2021 -6.3% | Dec 2021 -9.4% | Mar 2022 -16% | Jun 2022 -8.5% | Sep 2022 -2.5% | Dec 2022 -3.6% | Mar 2023 -3.6% | Jun 2023 2.8% | Sep 2023 0.9% | Dec 2023 0.9% | Mar 2024 -3.5% | Jun 2024 -0.9% | Sep 2024 -1.7% | Dec 2024 -8.0% | Mar 2025 -9.0% | Jun 2025 2.0% | Sep 2025 -8.0% | Dec 2025 -3.0% | Mar 2026 -7.0% | Jun 2026 —
- SASTASUNDR: Sep 2021 -6.3% | Dec 2021 -9.4% | Mar 2022 -16% | Jun 2022 -8.5% | Sep 2022 -2.5% | Dec 2022 -3.6% | Mar 2023 -3.6% | Jun 2023 2.8% | Sep 2023 0.9% | Dec 2023 0.9% | Mar 2024 -3.5% | Jun 2024 -0.9% | Sep 2024 -1.7% | Dec 2024 -8.4% | Mar 2025 -8.8% | Jun 2025 2.0% | Sep 2025 -7.5% | Dec 2025 -3.0% | Mar 2026 — | Jun 2026 —

### 20-quarter Margin change history
- MEDPLUS: Sep 2021 +0.0 pp | Dec 2021 −0.7 pp | Mar 2022 −2.1 pp | Jun 2022 −4.8 pp | Sep 2022 −1.4 pp | Dec 2022 −0.6 pp | Mar 2023 +1.6 pp | Jun 2023 +0.7 pp | Sep 2023 +0.7 pp | Dec 2023 0.0 pp | Mar 2024 0.0 pp | Jun 2024 0.0 pp | Sep 2024 +2.0 pp | Dec 2024 +2.0 pp | Mar 2025 +2.0 pp | Jun 2025 +2.0 pp | Sep 2025 +1.0 pp | Dec 2025 +1.0 pp | Mar 2026 0.0 pp | Jun 2026 −1.0 pp
- ENTERO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 +1.3 pp | Dec 2023 +0.9 pp | Mar 2024 +0.5 pp | Jun 2024 −0.1 pp | Sep 2024 +0.4 pp | Dec 2024 +0.8 pp | Mar 2025 +0.8 pp | Jun 2025 +0.8 pp | Sep 2025 +0.7 pp | Dec 2025 +0.3 pp | Mar 2026 +0.9 pp | Jun 2026 —
- HEALTHX: Sep 2021 −4.5 pp | Dec 2021 −6.9 pp | Mar 2022 −10.4 pp | Jun 2022 −5.6 pp | Sep 2022 +3.8 pp | Dec 2022 +5.8 pp | Mar 2023 +12.7 pp | Jun 2023 +11.3 pp | Sep 2023 +3.4 pp | Dec 2023 +4.5 pp | Mar 2024 +0.1 pp | Jun 2024 −3.7 pp | Sep 2024 −2.6 pp | Dec 2024 −8.9 pp | Mar 2025 −5.5 pp | Jun 2025 +2.9 pp | Sep 2025 −6.3 pp | Dec 2025 +5.0 pp | Mar 2026 +2.0 pp | Jun 2026 —
- SASTASUNDR: Sep 2021 −4.5 pp | Dec 2021 −6.9 pp | Mar 2022 −10.4 pp | Jun 2022 −5.6 pp | Sep 2022 +3.8 pp | Dec 2022 +5.8 pp | Mar 2023 +12.7 pp | Jun 2023 +11.3 pp | Sep 2023 +3.4 pp | Dec 2023 +4.5 pp | Mar 2024 +0.1 pp | Jun 2024 −3.7 pp | Sep 2024 −2.7 pp | Dec 2024 −9.4 pp | Mar 2025 −5.4 pp | Jun 2025 +2.9 pp | Sep 2025 −5.8 pp | Dec 2025 +5.4 pp | Mar 2026 — | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Medplus Health Services Ltd leads with ₹211 crore of TTM profit, 44.5% above Entero Healthcare Solutions Ltd. Health X Platform Ltd shows 99.3% growth from a ₹1 crore net cash profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Medplus Health Services Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Medplus Health Services Ltd · ₹211 crore | 44.5% versus #2 · Entero Healthcare Solutions Ltd | 7/8 recent comparable periods | 4/4 companies · 61 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Medplus Health Services Ltd (MEDPLUS): ₹211 Cr
2. Entero Healthcare Solutions Ltd (ENTERO): ₹146 Cr
3. Sastasundar Ventures Ltd (SASTASUNDR): ₹29 Cr — older report
4. Health X Platform Ltd (HEALTHX): ₹-1 Cr

### Profit growth — fastest growers
1. Health X Platform Ltd (HEALTHX): 99%
2. Entero Healthcare Solutions Ltd (ENTERO): 37%
3. Medplus Health Services Ltd (MEDPLUS): 19%

### 20-quarter Net profit history
- MEDPLUS: Sep 2021 ₹20 Cr | Dec 2021 ₹17 Cr | Mar 2022 ₹12 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹7 Cr | Dec 2022 ₹13 Cr | Mar 2023 ₹27 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹15 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹34 Cr | Jun 2024 ₹14 Cr | Sep 2024 ₹39 Cr | Dec 2024 ₹46 Cr | Mar 2025 ₹51 Cr | Jun 2025 ₹42 Cr | Sep 2025 ₹56 Cr | Dec 2025 ₹58 Cr | Mar 2026 ₹64 Cr | Jun 2026 ₹33 Cr
- ENTERO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹4 Cr | Mar 2023 ₹-4 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹7 Cr | Mar 2024 ₹21 Cr | Jun 2024 ₹21 Cr | Sep 2024 ₹26 Cr | Dec 2024 ₹29 Cr | Mar 2025 ₹31 Cr | Jun 2025 ₹30 Cr | Sep 2025 ₹37 Cr | Dec 2025 ₹34 Cr | Mar 2026 ₹45 Cr | Jun 2026 —
- HEALTHX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-26 Cr | Mar 2023 ₹-48 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹-12 Cr | Dec 2023 ₹-3 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹41 Cr | Sep 2024 ₹-155 Cr | Dec 2024 ₹-38 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹27 Cr | Sep 2025 ₹-15 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹-13 Cr | Jun 2026 —
- SASTASUNDR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-26 Cr | Mar 2023 ₹-48 Cr | Jun 2023 ₹-0 Cr | Sep 2023 ₹-12 Cr | Dec 2023 ₹-3 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹41 Cr | Sep 2024 ₹-155 Cr | Dec 2024 ₹-38 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹27 Cr | Sep 2025 ₹-15 Cr | Dec 2025 ₹0 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Profit growth history
- MEDPLUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -65% | Dec 2022 -24% | Mar 2023 125% | Jun 2023 33% | Sep 2023 114% | Dec 2023 7.7% | Mar 2024 26% | Jun 2024 250% | Sep 2024 160% | Dec 2024 229% | Mar 2025 50% | Jun 2025 200% | Sep 2025 44% | Dec 2025 26% | Mar 2026 25% | Jun 2026 -21%
- ENTERO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 75% | Mar 2024 — | Jun 2024 250% | Sep 2024 420% | Dec 2024 314% | Mar 2025 48% | Jun 2025 43% | Sep 2025 42% | Dec 2025 17% | Mar 2026 45% | Jun 2026 —
- HEALTHX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -18% | Jun 2025 -34% | Sep 2025 — | Dec 2025 — | Mar 2026 -172% | Jun 2026 —
- SASTASUNDR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -19% | Jun 2025 -35% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Return On Capital Employed

What the numbers say: Medplus Health Services Ltd leads ROCE at 12.6%, 2.1 percentage points above Entero Healthcare Solutions Ltd. Sastasundar Ventures Ltd has the strongest latest improvement at +2 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Medplus Health Services Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Medplus Health Services Ltd · 12.6% | 20% versus #2 · Entero Healthcare Solutions Ltd | 8/8 recent comparable periods | 4/4 companies · 31 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Medplus Health Services Ltd (MEDPLUS): 13%
2. Entero Healthcare Solutions Ltd (ENTERO): 11%
3. Health X Platform Ltd (HEALTHX): -0.1%
4. Sastasundar Ventures Ltd (SASTASUNDR): -1.3% — older report

### ROCE change — fastest improvers
1. Sastasundar Ventures Ltd (SASTASUNDR): +2.0 pp — older report
2. Health X Platform Ltd (HEALTHX): +1.4 pp
3. Entero Healthcare Solutions Ltd (ENTERO): +1.0 pp
4. Medplus Health Services Ltd (MEDPLUS): +0.6 pp

### 20-quarter ROCE history
- MEDPLUS: Sep 2021 14% | Dec 2021 — | Mar 2022 8.0% | Jun 2022 — | Sep 2022 4.2% | Dec 2022 — | Mar 2023 4.1% | Jun 2023 — | Sep 2023 4.7% | Dec 2023 6.6% | Mar 2024 5.7% | Jun 2024 7.7% | Sep 2024 7.3% | Dec 2024 10% | Mar 2025 9.0% | Jun 2025 12% | Sep 2025 10% | Dec 2025 14% | Mar 2026 10% | Jun 2026 13%
- HEALTHX: Sep 2021 -13% | Dec 2021 — | Mar 2022 -3.9% | Jun 2022 — | Sep 2022 -3.9% | Dec 2022 — | Mar 2023 -2.6% | Jun 2023 — | Sep 2023 1.5% | Dec 2023 3.9% | Mar 2024 4.9% | Jun 2024 5.6% | Sep 2024 6.7% | Dec 2024 -18% | Mar 2025 -1.5% | Jun 2025 -19% | Sep 2025 -4.4% | Dec 2025 0.7% | Mar 2026 -0.1% | Jun 2026 —

### 20-quarter ROCE change history
- MEDPLUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −10.1 pp | Dec 2022 — | Mar 2023 −3.9 pp | Jun 2023 — | Sep 2023 +0.5 pp | Dec 2023 — | Mar 2024 +1.6 pp | Jun 2024 — | Sep 2024 +2.6 pp | Dec 2024 +3.7 pp | Mar 2025 +3.3 pp | Jun 2025 +4.6 pp | Sep 2025 +3.1 pp | Dec 2025 +3.2 pp | Mar 2026 +1.0 pp | Jun 2026 +0.6 pp
- HEALTHX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +8.6 pp | Dec 2022 — | Mar 2023 +1.3 pp | Jun 2023 — | Sep 2023 +5.4 pp | Dec 2023 — | Mar 2024 +7.5 pp | Jun 2024 — | Sep 2024 +5.2 pp | Dec 2024 −21.8 pp | Mar 2025 −6.4 pp | Jun 2025 −24.4 pp | Sep 2025 −11.1 pp | Dec 2025 +18.6 pp | Mar 2026 +1.4 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Medplus Health Services Ltd has the lowest comparable PEG at 0.99×. Only 1 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Medplus Health Services Ltd · 0.99× | Not enough peers | 0/8 recent comparable periods | 1/4 companies · 6 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. Medplus Health Services Ltd (MEDPLUS): 1.0

### P/E — lowest P/E
1. Sastasundar Ventures Ltd (SASTASUNDR): 33.7 — older report
2. Medplus Health Services Ltd (MEDPLUS): 40.2
3. Entero Healthcare Solutions Ltd (ENTERO): 45.7
4. Health X Platform Ltd (HEALTHX): 510.0

### 20-quarter PEG history
- MEDPLUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 5.8 | Jun 2024 4.0 | Sep 2024 — | Dec 2024 — | Mar 2025 1.3 | Jun 2025 — | Sep 2025 — | Dec 2025 1.9 | Mar 2026 0.9 | Jun 2026 1.0

### 20-quarter P/E history
- MEDPLUS: Sep 2021 — | Dec 2021 0.8 | Mar 2022 0.7 | Jun 2022 0.6 | Sep 2022 68.7 | Dec 2022 189.4 | Mar 2023 221.7 | Jun 2023 185.8 | Sep 2023 182.2 | Dec 2023 153.5 | Mar 2024 140.1 | Jun 2024 124.5 | Sep 2024 105.2 | Dec 2024 100.4 | Mar 2025 68.7 | Jun 2025 72.6 | Sep 2025 52.8 | Dec 2025 50.0 | Mar 2026 47.9 | Jun 2026 45.6
- ENTERO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 85.2 | Dec 2024 74.7 | Mar 2025 54.9 | Jun 2025 51.9 | Sep 2025 46.0 | Dec 2025 37.5 | Mar 2026 46.3 | Jun 2026 —
- HEALTHX: Sep 2021 — | Dec 2021 2.1 | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -17.8 | Sep 2023 — | Dec 2023 — | Mar 2024 108.8 | Jun 2024 121.5 | Sep 2024 25.6 | Dec 2024 14.4 | Mar 2025 17.0 | Jun 2025 22.6 | Sep 2025 27.8 | Dec 2025 25.7 | Mar 2026 33.7 | Jun 2026 —
- SASTASUNDR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 25.6 | Dec 2024 14.4 | Mar 2025 17.0 | Jun 2025 22.6 | Sep 2025 27.8 | Dec 2025 25.7 | Mar 2026 — | Jun 2026 —


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Medplus Health Services Ltd (MEDPLUS) — market value ₹8.5K Cr; latest fundamentals Jun 2026
- Entero Healthcare Solutions Ltd (ENTERO) — market value ₹5.4K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Health X Platform Ltd (HEALTHX) — market value ₹980 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Sastasundar Ventures Ltd (SASTASUNDR) — market value ₹874 Cr; latest fundamentals Dec 2025

## Source standing of each company

Cross-checked: 1. Unverified: 2. Withheld: 1. Graded companies: 4.

1 of 4 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

1 of 4 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Entero Healthcare Solutions Ltd (ENTERO) — its two data sources disagree by up to 37% on reported income across 14 comparable periods, so its derived ratios are withheld.

- WITHHELD | ENTERO | Entero Healthcare Solutions Ltd | diff_gt_2pct | disagreement up to 36.65% over 14 comparable periods

- UNVERIFIED | HEALTHX | Health X Platform Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-31.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Pharmacy Distribution sector outperforming NIFTY 500?

Pharmacy Distribution has underperformed NIFTY 500 by 6.4% over 52 weeks and 3.2% over 13 weeks. 3 of 4 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself.

### Which Pharmacy Distribution company is largest by revenue?

Medplus Health Services Ltd leads with revenue of ₹7,229 crore, based on 4 of 4 comparable companies through Jun 2026.

### Which Pharmacy Distribution company is growing fastest?

Entero Healthcare Solutions Ltd has the fastest current revenue growth at 29.4%, across 4 of 4 comparable companies.

### Which Pharmacy Distribution company has the strongest 4-Factor Sector Score?

Entero Healthcare Solutions Ltd ranks first at 64.3/100 with 68.1% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Pharmacy Distribution company has the lowest comparable PEG?

Medplus Health Services Ltd has the lowest comparable PEG at 0.99, among 1 of 4 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Pharmacy Distribution comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### What is the Nifty Pharmacy Distribution index?

The Nifty Pharmacy Distribution index tracks India's listed Pharmacy Distribution companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Pharmacy Distribution sector rather than to its largest constituent. Figures are as of Jun 2026.

### Which are the best Pharmacy Distribution stocks in India?

Ranked by this page's four-factor score, Entero Healthcare Solutions Ltd places first among 4 listed Pharmacy Distribution companies, followed by Health X Platform Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Pharmacy Distribution stocks are listed in India?

This comparison covers 4 listed Pharmacy Distribution companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Pharmacy Distribution company is the biggest?

Medplus Health Services Ltd is the largest, with trailing-twelve-month revenue of ₹7,229 crore, ahead of Entero Healthcare Solutions Ltd at ₹6,592 crore. That covers 4 of 4 companies with comparable reporting through Jun 2026.

### Which Pharmacy Distribution company has the best profit margins?

Medplus Health Services Ltd has the highest operating margin at 7%, from 4 of 4 comparable companies. Sastasundar Ventures Ltd shows the biggest recent improvement, at +5.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Pharmacy Distribution company makes the most profit?

Medplus Health Services Ltd earns the most, at ₹211 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Health X Platform Ltd has the fastest profit growth at 99.3%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Pharmacy Distribution company earns the highest return on capital?

Medplus Health Services Ltd leads on return on capital employed at 12.6%, across 4 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Pharmacy Distribution stock is the cheapest?

On PEG — where a LOWER number is cheaper — Medplus Health Services Ltd screens cheapest at 0.99×. Only 1 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Pharmacy Distribution sector beating the market?

Pharmacy Distribution has underperformed NIFTY 500 by 6.4% over the last 52 weeks and 3.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 4 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Pharmacy Distribution stock has the strongest price momentum?

Entero Healthcare Solutions Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Pharmacy Distribution company scores highest for research priority?

Entero Healthcare Solutions Ltd scores 64.3 out of 100 with 68.1% evidence confidence, from 26 points on growth and earnings, 8.3 on capital efficiency, 10 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Pharmacy Distribution companies does this comparison cover, and over what period?

It compares 4 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Pharmacy Distribution sector?

The 4 Pharmacy Distribution companies on this page carry ₹15,737 crore of combined market value. Medplus Health Services Ltd is the largest at ₹8,469 crore, about 54% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

### How is the Pharmacy Distribution sector performing?

3 of the 4 covered Pharmacy Distribution companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 6.4% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.