Sastasundar Ventures Limited conducted its Q3FY26 earnings conference call on February 9, 2026, showcasing strong operational momentum across its B2B and B2C healthcare platforms. The company demonstrated significant improvement in financial metrics while advancing its technology-driven growth strategy.

Financial Performance Highlights

The company delivered robust financial results for Q3FY26, reflecting improved operational efficiency and sustained customer engagement across both business verticals.

For the nine-month period ended FY26, the company reported revenue of Rs. 928 crores, reflecting 15% year-on-year growth driven by steady performance across core segments. Gross profit increased 30% year-on-year to Rs. 70 crores, while gross margin improved by 80 basis points to 7.5% compared to 6.7% in the corresponding period last year.

Business Model and Strategic Positioning

Chairman and Executive Director B.L. Mittal emphasized the company's capital-efficient model, highlighting that total investment for futuristic technology remains less than treasury income, maintaining positive cash flow. The company operates through two key platforms: Retailer Shakti for B2B distribution and SastaSundar B2C for direct consumer engagement.

Technology and Infrastructure Expansion

The company continues investing in AI-enabled platforms to enhance customer experience and supply chain efficiency. Management announced the upcoming launch of Retail Air, an AI-driven SaaS platform that will be provided free to retailers for inventory management and automated ordering.

Warehouse Expansion Plans:

• West Bengal: Additional 80,000 square feet capacity with Rs. 10 crores investment
• Noida: New 1 lakh square feet warehouse under development
• Lucknow and Udaipur: New facilities planned for broader geographic coverage
• Guwahati: Expansion of existing Northeast operations

JITO Brand Launch and Market Strategy

The company launched its JITO brand for generic medicine distribution, leveraging its network of 65,000 retail pharmacies. Management expects JITO to contribute 2-3% of revenue in the next year, scaling to 5% within 24 months and targeting 10% contribution over the next 3-4 years. The JITO brand offers gross margins of approximately 30% with contribution margins around 25%.

Profitability Trajectory and Guidance

CFO Lokesh Agarwal highlighted the significant turnaround in profitability metrics. The company reported PAT of Rs. 11 crores for nine months FY26 compared to a loss of Rs. 151 crores in the corresponding period last year. Management confirmed that Retailer Shakti achieved EBITDA positive performance in January 2026 and expects sustainable profitability going forward.

Key Profitability Milestones:

• Retailer Shakti: EBITDA breakeven by Q4 FY26, sustainable positive performance in FY27
• SastaSundar B2C: Contribution margin positive achieved in January 2026
• Overall business: Targeting 30% CAGR growth for next 5-10 years

Corporate Restructuring and Future Plans

Management provided updates on the planned merger and demerger process. The company will change its name to Health X Platform Limited and merge SastaSundar HealthBuddy Limited while demerging Microsec Resources as a separate NBFC entity. The restructuring is expected to complete in the next financial year, subject to regulatory approvals and maintaining required public shareholding norms.

Sastasundar Ventures Limited has informed stock exchanges that the National Company Law Tribunal (NCLT), Kolkata Bench has sanctioned the share capital reduction scheme of its step-down subsidiary Genu Path Labs Limited (GPL). The NCLT order dated February 12, 2026 was uploaded on the tribunal's website on February 13, 2026.

NCLT Approval Details

The tribunal has approved the reduction of GPL's issued, subscribed and paid-up equity share capital through a comprehensive restructuring scheme. The approved reduction involves cancelling and extinguishing a significant portion of the existing share capital while maintaining the same number of shares but at reduced face value.

Financial Rationale

The capital reduction scheme was necessitated by GPL's accumulated losses of Rs. 38,92,75,357 as on December 31, 2024. The company's management decided to write off these accumulated losses against the Securities Premium Account and reduce the share capital to better reflect the company's financial position.

The restructuring became necessary after the relationship between Sastasundar Healthbuddy Limited (GPL's holding company) and Flipkart Health Limited ceased in October 2024. This development affected GPL's planned revenue streams through the marketplace portal, prompting the need for capital adjustment.

Regulatory Compliance

The scheme received unanimous approval from shareholders at an Extraordinary General Meeting held on March 24, 2025. All seven shareholders present, including Sastasundar Healthbuddy Limited holding 1,97,49,992 shares, voted in favor of the special resolution.

The company had 22 unsecured creditors with total liabilities of Rs. 8,14,984 as on April 21, 2025, and no secured creditors. All statutory requirements including creditor notifications and newspaper publications were completed as per NCLT directions.

Implementation Timeline

The appointed date for the capital reduction scheme is January 1, 2025. GPL must now deliver a certified copy of the NCLT order to the Registrar of Companies within thirty days and publish notices in leading English and Bengali newspapers within two weeks of receiving the registration certificate.

Strategic Impact

The capital reduction is expected to improve GPL's net worth and provide greater flexibility for future fundraising activities. The scheme does not involve any financial outlay and will not affect the company's ability to meet its operational obligations. Management believes this restructuring will attract new investors and create better business opportunities for the diagnostic services company.