SASTASUNDR
Health X Platform financials
- Market cap
- ₹876 Cr
- Sector
- Healthcare
- Calls analysed
- 3
Sastasundar Ven. Q3 FY26
What went well
- Revenue from operations for Q3 FY26 increased by 22% YoY to ₹341 crores, demonstrating strong top-line growth.
- Gross margin expanded to 7.6% in Q3 FY26, up from 6% in the corresponding quarter last year and 7.4% in the previous quarter, reflecting improved product mix and operating efficiency.
- EBIT turned positive at ₹1 crore in Q3 FY26, a significant turnaround from a loss of ₹37 crores in Q3 FY25.
What to watch
- Working capital is currently 'plugged' for 3-4 years due to the GST change, although management expects it to normalize and become negative in the long term.
- Initial sales from the JITO brand are currently 'not too much in lakhs of rupees', indicating a ramp-up period is required.
Guidance record · Q3 FY26
what the last two calls moved 7 tracked 1 delivered 0 missed 6 open- SastaSundar B2C Contribution Margin delivered said Q2 FY26 Promised: Contribution margin positive next year (FY27) Q3 FY26: Management stated SastaSundar is already contribution margin positive in January
- RetailerShakti EBITDA Margin delayed said Q4 FY25 Promised: 1% EBITDA for the whole year FY26 Q3 FY26: Reiterated 1% target for next year (FY27); Q4 FY26 target lowered to 0.1%
- Overall Company EBITDA Margin on track said Q4 FY25 Promised: 1% EBITDA in Q4 FY26 Q3 FY26: EBIT turned positive (₹1 Cr) in Q3; Q4 is the target quarter
All 7 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 49.7%, net profit down 92.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 274 | 281 | 286 | 298 | 301 +10% | 346 +23% | 374 +31% | 447 +50% |
| EBITDA | -5 | -24 | -25 | 6 | -23 −379% | -10 +56% | -25 +0% | -8 −238% |
| Net profit | -155 | -38 | 18 | 27 | -15 +90% | 0 +101% | -13 −174% | 2 −93% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +6.2% 1Y
1Y: ₹288.7 on 10 Sept 2025 → ₹306.7. High ₹339.45 (14 Jul 2026), low ₹256.95 (30 Mar 2026).
How the price took the results
close before → close after
- Q3 FY26
- +0.6%
- 16 Feb
- Q2 FY26
- +5.1%
- 17 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 8.3% a year over 3 years, FY23 to FY26. Operating margin held at -3.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.0k Cr | ₹1.4k Cr | ₹1.1k Cr | ₹1.3k Cr |
| Operating profit | ₹-43 Cr | ₹5 Cr | ₹-56 Cr | ₹-52 Cr |
| Operating margin | -4.1% | 0.4% | -5.0% | -3.9% |
| Interest | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹1 Cr |
| Depreciation | ₹8 Cr | ₹9 Cr | ₹6 Cr | ₹7 Cr |
| Net profit | ₹-99 Cr | ₹6 Cr | ₹-134 Cr | ₹-1 Cr |
| Net margin | -9.6% | 0.4% | -12.1% | -0.1% |
| Cash from operations | ₹-112 Cr | ₹36 Cr | ₹-17 Cr | ₹-74 Cr |
| Free cash flow | ₹-128 Cr | ₹22 Cr | ₹-27 Cr | ₹-89 Cr |
| ROCE | -11.0% | -3.0% | -1.0% | 0.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹32 Cr | ₹32 Cr | ₹32 Cr | ₹32 Cr | ₹32 Cr | ₹32 Cr |
| Reserves | ₹168 Cr | ₹795 Cr | ₹722 Cr | ₹731 Cr | ₹650 Cr | ₹609 Cr |
| Borrowings | ₹12 Cr | ₹2 Cr | ₹9 Cr | ₹4 Cr | ₹5 Cr | ₹26 Cr |
| Other liabilities | ₹80 Cr | ₹449 Cr | ₹441 Cr | ₹383 Cr | ₹321 Cr | ₹269 Cr |
| Total liabilities | ₹293 Cr | ₹1.3k Cr | ₹1.2k Cr | ₹1.1k Cr | ₹1.0k Cr | ₹936 Cr |
| Fixed assets | ₹110 Cr | ₹93 Cr | ₹107 Cr | ₹110 Cr | ₹117 Cr | ₹117 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Investments | ₹43 Cr | ₹666 Cr | ₹513 Cr | ₹676 Cr | ₹633 Cr | ₹519 Cr |
| Other assets | ₹139 Cr | ₹518 Cr | ₹583 Cr | ₹363 Cr | ₹257 Cr | ₹299 Cr |
| Total assets | ₹293 Cr | ₹1.3k Cr | ₹1.2k Cr | ₹1.1k Cr | ₹1.0k Cr | ₹936 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −0.77 pp while DIIs added +0.51 pp. The shareholder count shrank 14% to 11,502.
- Promoters
- 74.1%
- FIIs
- 2.3%
- DIIs
- 2.6%
- Public
- 21.0%
Since Jun 2025
- Public −0.77 pp
- DIIs +0.51 pp
- FIIs +0.41 pp
How it drifted, 12 quarters
Over this window the public fell from 25.6% to 21.0% — −4.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 73.9%, FIIs 0.3%, DIIs 0.2%, Public 25.6%.Dec '23: Promoters 73.9%, FIIs 0.5%, DIIs 0.9%, Public 24.7%.Mar '24: Promoters 73.9%, FIIs 0.6%, DIIs 1.0%, Public 24.6%.Jun '24: Promoters 73.9%, FIIs 0.6%, DIIs 1.4%, Public 24.1%.Sep '24: Promoters 73.9%, FIIs 1.0%, DIIs 2.0%, Public 23.1%.Dec '24: Promoters 73.9%, FIIs 1.7%, DIIs 1.9%, Public 22.5%.Mar '25: Promoters 74.1%, FIIs 1.6%, DIIs 2.1%, Public 22.2%.Jun '25: Promoters 74.2%, FIIs 1.9%, DIIs 2.1%, Public 21.8%.Sep '25: Promoters 74.2%, FIIs 2.0%, DIIs 2.1%, Public 21.6%.Dec '25: Promoters 74.7%, FIIs 2.3%, DIIs 2.1%, Public 21.0%.Mar '26: Promoters 74.8%, FIIs 2.2%, DIIs 2.6%, Public 20.4%.Jun '26: Promoters 74.1%, FIIs 2.3%, DIIs 2.6%, Public 21.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Legends Global Opportunities (Singapore) Pte. Ltd. FPI fund +0.13 pp 1.15% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Health X Platform Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Banwari Lal Mittal | 33.92% | unchanged |
| Topview Enclaves LLP | 24.76% | unchanged |
| Luv Kush Projects Ltd. | 11.96% | unchanged |
| Ravi Kant Sharma | 2.35% | −0.79 pp |
| Lekh Raj Juneja | 1.89% | unchanged |
| Magnum Health And Safety Pvt Ltd | 1.44% | unchanged |
| Sanjay Agarwal, Rahul Kumar Agrawal and Pratap Singh as Trustees of Microsec Vision Employees Trust | 1.28% | unchanged |
| Airavat Capital Trust - Airavat Capital Trust Ii AIF | 1.23% | unchanged |
| Legends Global Opportunities (Singapore) Pte. Ltd. FPI fund | 1.15% | +0.13 pp |
| Bharati Sharma | 1.02% | unchanged |
| Abha Mittal | 0.05% | unchanged |
| Vidhi Mittal | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (3)
Read the Q3 FY26 call →Learn to analyse Health X Platform Limited
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