AVERAGE OPERATING EBITDA PER STORE

The table below sets out the average Operating EBITDA per store in % lakhs for key pharmacy retailers in India as of financial
years 2019, 2020 and 2021, and CAGR from financial years 2019 to 2021.

 

 

 

 

 

Player FY 2019 FY 2020 FY 2021 (FY Sey
Apollo Pharmacy 6.26 8.04 9.11" 20.6%
MedPlus 4.18 5.78 9.08 47.3%
Wellness Forever 22.11 20.94 NA 5.3%"

 

 

 

 

 

 

Source: Primary Research, Secondary Research, Company filings, Technopak Analysis

Note: Average Operating EBITDA per store computed as Operating EBITDA for the financial year divided by average store count for the financial year
(Average store count for the year = Store count at the beginning of the year + Store count at the end of year)/2)

Note: 1 million = 10 lakhs

* CAGR for Wellness Forever computed for FY2019 to FY 2020 period as FY 2021 data was not available

* Average Operating EBITDA per store for Apollo Pharmacy for FY2021 reported on like-for-like basis to its FY 2020 average Operating EBITDA per store
without taking into consideration the restructuring that the company undertook in September 2020

SHARE OF PRIVATE LABEL SALES

The table below sets out the share of sale of private label products for key pharmacy retailers as of financial years 2019, 2020
and 2021.

 

 

 

 

Player FY2019 FY 2020 FY 2021
Apollo Pharmacy ~6% ~8% ~10%
MedPlus* 4.5% 5.7% 10.4%
Wellness Forever ~1% ~2% 2%

 

 

 

 

 

 

Source: Primary Research, Secondary Research, Company filings, Technopak Analysis
“Includes trade generics

OMNICHANNEL SALES CONTRIBUTION

The table below sets out the start year for sales via omnichannel and the share of omnichannel sales as a percentage of total
sales for key pharmacy retailers as of financial years 2020 and 2021.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nearot aan of ‘Omnichannel Conese o Sales Conmpaton | 2 Sales
seins (Pre-COVID-19) (Post-COVID-19)
Apollo Pharmac 2019 1-2% 2-5%
MedPlus 2015 7.0% 9.0%
Wellness Forever" 2016 9-10% 11-12%
Sources: Secondary research, Primary Interviews * Includes digitally (voice and data) enabled sales
RETURN ON EQUITY
Player FY 2019 FY 2020 FY 2021 (FY Sey
Apollo Pharmacy NA NA NA NA
MedPlus 4.0% 0.4% 10.1% 58.9%
Wellness Forever -1.2% -3.8% -16.0% NA®
API Holdings NA -187.7% -33.5% NA®
Tata 1 mg NA® NA NAY NA®
Netmeds -235.4% -343.9% NA NA

 

 

 

 

Source: DRHP, MCA, & Annual Reports, Primary Research, Secondary Research, Company filings, Technopak Analysis;

Return On Equity = Profit After Tax/(Total equity at the beginning of year plus total equity at the end of the year divided by 2)

Notes applicable to this chart and all charts below:

NA - Nota

 

ible

NA® - Not applicable due to either negative numerator or denominator or both
For Wellness Forever - restated audited financials considered from their DRHP
API Holdings restated audited financials have been considered for FY 2021 and FY 2020.
For Tata 1 mg and Netmeds MCA reports has been considered

RETURN ON CAPITAL EMPLOYED

142
