Health X Platform share price today

Health X Platform Ltd's share price was ₹273.00 at the close on 30 October 2026. It has been falling for 3 weeks. That is 7.5% below its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 11 weeks running.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Health X Platform Ltd is in stage 4. The phase helps read everything below.

Since its first close in our records, on 10 April 2026, it has traded between ₹262 and ₹328, and at that close it sat 17% of the way up from that low.

Over the last 7 months the share price moved +1% while the NIFTY 500 moved −3%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 21 August 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

9 points on a year earlier.

1. Revenue up on a year earlier for 5 quarters in a row

   In the June 2026 quarter revenue was ₹447 crore, +49.7% on a year earlier.

   Why: Revenue rose because Retailer Shakti, the main business, grew 48% and led the platform's growth.

   Next results: check whether Retailer AI launches and lifts the average share of each pharmacy's spending, which was around 2%.

   From the earnings call on 11 Aug 2026.

2. Highest quarterly revenue in 15 quarters

   Revenue of ₹447 crore in the June 2026 quarter is the highest of the last 15 quarters.

   Why: Revenue hit a record because Retailer Shakti, the main business, grew 48% and led the platform's growth.

   Next results: check whether capacity additions support up to Rs 3,000 crore of revenue.

   From the earnings call on 11 Aug 2026.

3. Operating margin down 3.9 points on a year earlier

   -1.9% in the June 2026 quarter, from 2%.

   Why: Operating margin fell because SastaSundar's loss was mostly from building technology.

   Next results: check whether EBITDA, a rough measure of operating profit, is still expected to stay negative for the next 2 to 3 years.

   From the earnings call on 11 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Health X Platform reported revenue of ₹447 crore, up 49.7% from ₹298 crore a year earlier, and a profit of ₹1.99 crore, down 92.5% from ₹26.6 crore.

Health X Platform results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Health X Platform's management discussed these results on a call held on 11 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Health X Platform closed at ₹273.00 on 30 October 2026. Its highest weekly close since April 2026 was ₹328.25 on 25 June 2026.

Health X Platform share price: then and now

Weekly closing prices. Each change is the move from that price to the 30 Oct 2026 close. A day's intraday high or low can go beyond these weekly closes.

37 weekly closes from 10 April 2026 to 30 October 2026.

30 Oct 2026: Health X Platform closed at ₹273.00, up 4.2% on the week and down 0.3% on the month. 11 Aug 2026: Health X Platform held its results call for April to June 2026. Management guided: Retailer Shakti positive operating profit in October to December 2026.

Earlier

• Results for April to June 2026: Revenue up 49.7% and profit down 92.5% on a year earlier.

Health X Platform has paid no dividend on the NSE since its first NSE close in our records (10 April 2026), the start of the period we checked.

No. Health X Platform Ltd paid out 0% of its profit as dividends in each of its last 13 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 11 August 2026, Health X Platform's management guided: Retailer Shakti positive operating profit in October to December 2026.

“However, we will extend the so-called burn. We will continue to burn and continue to invest in technology because we are at the infancy stage and have not reached our full potential.”BL Mittal, on the call for April to June 2026

What management guided

• Consolidated operating profit not expected to be positive for the next 2-3 years; technology spending to continue.
• Overall FY27 gross margin above 8%.
• Gross margin to reach around 12% at scale.
• Retailer AI SaaS launch this quarter; success confirmation next quarter, inventory reduction to 5-6 days and wallet share doubling planned.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 11 August 2026.

When Health X Platform reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: RetailerShakti operating leverage and Retailer AI launch - check positive operating profit progress, automation adoption and wallet-share response.

Health X Platform is on one of our India lists: Pharma stocks.

Health X Platform Ltd earned ₹2.0 Cr of net profit in the Jun 2026 quarter, −92.5% on the same quarter a year earlier. The full FY26 year was a loss of ₹1.0 Cr. That is 0.4% of the quarter's revenue. The same quarter a year earlier earned ₹26.6 Cr. 6 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Health X Platform Ltd reported ₹447 Cr of revenue in the Jun 2026 quarter, +49.7% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 31.5% a year on average. The last full year, FY26, came in at ₹1,375 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,468 Cr.

FY26 revenue was ₹1,375 Cr, +18.6% on the year before.

Recent pace: the last four quarters grew +28.4% on average, against 31.5% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +28.8%, against +5.8% a year over the last 8 quarters (accelerating).

Health X Platform Ltd's operating margin was −1.9% in the Jun 2026 quarter, 3.9 percentage points lower than the same quarter a year ago. Across 13 years it has been between −31.0% and 62.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −3.9 percentage points on the year while gross margin changed −4.6 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 2 years Health X Platform Ltd's operations used more cash than they brought in, so cash conversion was −20%, a gap worth watching. In FY26 its operations used ₹74.0 Cr of cash, against −₹1.0 Cr of profit. After ₹13.0 Cr of spending on assets, free cash was −₹87.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −20% of profit came in as cash: the cash cycle got 18 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

Health X Platform Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 20 days in FY26, down from 38 days in FY21. It spent ₹32.0 Cr on assets over the last 3 years. Customers take 2 days to pay, and stock sits for 44 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,375 Cr, each day of that cycle ties up about ₹3.8 Cr, so roughly ₹75.0 Cr is tied up in the business at any time.

FY26: customers took 2 days to pay and stock sat for 44 days, about 1.4 months of sales sitting as stock, for a full cycle of 20 days, shorter than FY21's 38.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 44 days. Customers pay about 2 days after that. Suppliers are paid at 26 days. Together that makes the 20-day cycle.

Spending on assets: ₹32.0 Cr over the last 3 years, against ₹22.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹1.0 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

Health X Platform Ltd's P/E is 37.4×, near the high end of its own history: higher than 90% of past readings. Its usual P/E (the middle reading) is 25.2×, over 2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 388% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Health X Platform Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 8 quarters of 2 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Health X Platform Ltd earned a ROCE of 0% in FY26. That is up from a low of −25% in FY20. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a −0.1% net margin and 1.48× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a −0.1% net margin × 1.48× asset turnover × 1.45× leverage (assets divided by equity) ≈ −0.2% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 388% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Health X Platform Ltd had ₹26.0 Cr of borrowings against ₹641 Cr of equity in FY26, so its debt is 0.04× its equity. Its operating profit is 4 times its interest bill. Over 5 years borrowings went from ₹12.0 Cr to ₹26.0 Cr. Over the last 3 of those years it spent ₹32.0 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Part of the spending on assets is being paid for with borrowed money.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 388% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Foreign institutions raised their stake in Health X Platform Ltd by 1.3 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 2.3% of the company. Domestic institutions moved +0.6 points over the same period, to 2.6%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: +1.3 points over 8 quarters, to 2.3%; Domestic institutions: +0.6 points over 8 quarters, to 2.6%; Promoters: +0.1 points over 8 quarters, to 74.1%.

Why the owners changed: foreign institutions drove it (+1.3 points), together with domestic institutions (+0.6 points). They raised their stake step by step.

For Health X Platform Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

45.4 out of 100, rank 3 of 5 in Pharmacy Distribution, with 53% of the evidence available.

Health X Platform Ltd scores 45.4 out of 100 against the 5 companies it is compared with in Pharmacy Distribution, ranking 3. Some evidence is missing, so the score is pulled toward the middle on purpose.

The four parts add up to the total exactly: 18.5 + 8.6 + 10 + 8.3 = 45.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Health X Platform ranks 3 of 5 Pharmacy Distribution companies on the 4-Factor Sector Score, with 45.4 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Pharmacy Distribution, all 5 compared on one page.

Health X Platform is the 4th largest of 5 Pharmacy Distribution companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Entero Healthcare Solutions, Medplus Health Services and Zota Health Care. Just below it: Sastasundar Ventures.

Pharmacy Distribution companies close in size

1. Entero Healthcare Solutions Ltd ₹7,653 crore
2. Medplus Health Services Ltd ₹6,968 crore
3. Zota Health Care Ltd ₹4,221 crore
4. Health X Platform Ltd ₹921 crore
5. Sastasundar Ventures Ltd ₹874 crore

All 5 Pharmacy Distribution companies, largest first

Companies close in size in other industries

1702. SJ Corporation Ltd ₹853 crore · Diamond, Gems & Jewellery
1703. Commercial Syn Bags Ltd ₹852 crore · Packaging - Polysacks
1704. Health X Platform Ltd ₹849 crore
1705. Modis Navnirman Ltd ₹844 crore · Construction & Contracting
1706. RSWM Ltd ₹843 crore · Textiles - Spinning

Sector Alpha, written by code from the published numbers. Data as of 30 October 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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