Zota Health Care Ltd (ZOTA) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- DavaIndia is on a clear path to achieve operational profitability by Q4 FY27, with its operating EBITDA loss narrowing from INR 28 crore to INR 11.6 crore QoQ.
- The company will resume aggressive store expansion, targeting 400-450 new stores in H2 FY27 and 800 new stores in FY28.
- Mature stores (54+ months old) now generate an average GMV of over INR 8 lakh per month with 35-38% store-level EBITDA margins, demonstrating strong unit economics.
Performance Overview
- Zota Health Care consciously moderated the pace of DavaIndia store expansion during Q2 FY27 to focus on consolidating the existing network and improving store-level productivity.
- Despite moderated store additions, the company reported strong underlying business momentum, with DavaIndia sales growing by 76% year-over-year.
- Consolidated EBITDA turned positive at INR 7.9 crore, a significant recovery from the negative EBITDA of INR 9.55 crore in the previous quarter (Q1 FY27).
- Customer engagement showed strong improvement, with the company serving approximately 60 lakh customers during the quarter, and DavaIndia's quarterly GMV reaching INR 188 crore.
- The overall DavaIndia store network expanded to 2,840 stores as of September 30, 2026, comprising 1,859 COCO stores and 981 FOFO stores.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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