| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 5729 | 6644 | 5664 | 5872 |
| Cost of Material Consumed | 5342 | 5669 | 4737 | 4918 |
| Change in Inventory | -229 | 62 | 143 | -4 |
| Gross Margins | 10.75 | 13.74 | 13.84 | 16.31 |
| Employee Benefit Expenses | 1459 | 1283 | 699 | 908 |
| Other Expenses | 1502 | 1051 | 731 | 711 |
| EBITDA | -2345 | -1421 | -646 | -661 |
| OPM | -40.93 | -21.39 | -11.41 | -11.26 |
| Other Income | -1185 | -2866 | 931 | -181 |
| Finance Cost | 258 | 666 | 728 | 506 |
| D&A | 159 | 243 | 216 | 169 |
| EBIT | -2504 | -1664 | -862 | -830 |
| EBIT Margins | -43.71 | -25.05 | -15.22 | -14.13 |
| PBT | -3977 | -5196 | -2522 | -1517 |
| PBT Margins | -69.42 | -78.21 | -44.53 | -25.83 |
| Tax | 22 | 15 | 11 | 55 |
| PAT | -3999 | -5211 | -2533 | -1572 |
| NPM | -69.8 | -78.43 | -44.72 | -26.77 |
| EPS | -6.51 | -8.48 | -3.9 | -2.26 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | -40.93 | -21.39 | -11.41 | -11.26 |
| Net Profit Margin | -69.8 | -78.43 | -44.72 | -26.77 |
| Earning Per Share (Diluted) | -6.51 | -8.48 | -3.9 | -2.26 |
| Assets | 2023 | 2024 | 2025 |
|---|---|---|---|
| Fixed Assets | 912 | 734 | 662 |
| CWIP | 4 | 3.6 | 14 |
| Investments | 342 | 329 | 179 |
| Trade Receivables | 905 | 706 | 670 |
| Inventory | 688 | 556 | 554 |
| Other Assets | 5405 | 6061.4 | 4898 |
| Total Assets | 8256 | 8390 | 6977 |
| Liabilities | 2023 | 2024 | 2025 |
|---|---|---|---|
| Share Capital | 614.2 | 614.2 | 614.2 |
| FV | 1 | 1 | 1 |
| Reserves | 1823 | 1938 | 2577 |
| Borrowings | 4120 | 4098 | 2034 |
| Trade Payables | 413 | 413 | 426.6 |
| Other Liabilities | 1285.8 | 1291.4 | 1244.5 |
| Total Liabilities | 8256 | 8390 | 6977 |
| Cash-Flow Statement | 2023 | 2024 | 2025 |
|---|---|---|---|
| PBT | -5196 | -2522 | -1517 |
| OPBWC | -637 | -214 | -36 |
| Change in Receivables | -112 | 30 | -56 |
| Change in Inventories | 73 | 133 | 1.6 |
| Change in Payables | -45 | -0.5 | 8 |
| Other Changes | 39 | 26.5 | -93.6 |
| Working Capital Change | -45 | 189 | -140 |
| Cash Generated From Operations | -682 | -25 | -176 |
| Tax | -62 | -36 | -47 |
| Cash Flow From Operations | -744 | -61 | -223 |
| Purchase of PPE | -95 | -72 | -80.6 |
| Sale of PPE | 8 | 10 | 22 |
| Cash Flow From Investment | -72 | -1261 | 775 |
| Borrowing | 652 | -231 | -2187 |
| Dividend | -23 | -29.5 | -28 |
| Equity | 548 | 2000 | 1808.8 |
| Others From Financing | -324 | -282.5 | -353.8 |
| Cash Flow from Financing | 853 | 1457 | -760 |
| Net Cash Generated | 37 | 135 | -208 |
| Cash at the Start | 157 | 192 | 327 |
| Cash at the End | 194 | 327 | 119 |
PharmEasy, operated by API Holdings Limited, is one of India’s leading digital healthcare platforms, offering end-to-end services such as online medicine delivery, diagnostic test bookings, teleconsultations, and health products. The company has played a significant role in transforming India’s healthcare retail landscape by making medical services more accessible, affordable, and convenient. With a strong presence across major cities and Tier-II/Tier-III markets, PharmEasy has built an extensive network of pharmacies, diagnostic centers, and healthcare partners. Its technology-driven model enables seamless order processing, last-mile delivery, and digitized medical records, enhancing user experience and customer retention.
From a business standpoint, PharmEasy has pursued aggressive expansion through strategic acquisitions and integration of healthcare services. Its notable acquisitions include Medlife and Thyrocare Technologies, allowing the company to strengthen its diagnostic and pharmacy ecosystem under one umbrella. PharmEasy’s platform leverages AI, data analytics, and supply-chain optimization to reduce operational costs, improve fulfillment efficiency, and provide personalized recommendations. Despite facing challenges such as competition from other e-pharmacy players, regulatory uncertainties, and high customer acquisition costs, the company continues to refine its revenue model through subscription plans, diagnostic services, B2B distribution, and digital healthcare solutions for hospitals and clinics. These efforts support its long-term vision to become a comprehensive digital health infrastructure provider.
In the unlisted shares market, PharmEasy attracts strong investor interest due to its scale, brand equity, and leadership position in India’s rapidly growing digital health sector. While the company has navigated valuation corrections and financial restructuring in recent years, its long-term potential remains tied to rising digital adoption, increased preference for home healthcare services, and ongoing industry formalization. Investors considering PharmEasy’s unlisted shares should factor in the competitive landscape, regulatory developments, and the company’s path toward profitability. Even with liquidity constraints typical of unlisted markets, PharmEasy remains a high-potential opportunity for investors who believe in the future of digital healthcare in India.
Q 1: What are PharmEasy unlisted shares?
PharmEasy unlisted shares are equity shares of PharmEasy (API Holdings Pvt Ltd) that are not yet listed on the stock exchanges like NSE or BSE.
These shares are traded privately in the pre-IPO market between investors before the company goes public.
Q 2: What is the current price of PharmEasy unlisted shares?
The price of PharmEasy unlisted shares varies based on demand, company valuation, and market conditions.
Unlisted share prices are typically updated daily by brokers and platforms dealing in pre-IPO shares.
Q 3: How can I buy PharmEasy unlisted shares in India?
You can buy PharmEasy unlisted shares by:
The process usually takes 1–3 working days.
Q 4: Is it legal to buy and sell PharmEasy unlisted shares?
Yes, buying and selling unlisted shares in India is legal through private transactions as per the Companies Act and SEBI guidelines, provided the transfer happens via Demat accounts and proper documentation.
Q 5: Is PharmEasy a good investment before IPO?
PharmEasy’s investment potential depends on:
Pre-IPO shares carry high return potential but also higher risk.
Q 6: When is PharmEasy IPO expected?
PharmEasy has not announced an official IPO date yet.
IPO timelines depend on market conditions, company financial performance, and regulatory approvals.
Q 7: What are the risks of investing in PharmEasy unlisted shares?
Key risks include:
Unlisted shares are suitable for long-term, high-risk investors.
Q 8: Can I sell PharmEasy unlisted shares before IPO?
Yes, you can sell PharmEasy unlisted shares anytime in the unlisted market through brokers or platforms dealing in pre-IPO shares, subject to buyer availability.
Q 9: How are PharmEasy unlisted shares transferred?
Shares are transferred via:
Q 10: Are unlisted shares taxed in India?
Yes: