Tata 1mg says its core businesses turned EBITDA positive — is integrated healthcare finally becoming a scalable model in India?
Tata 1mg recently shared that its core businesses, excluding ongoing offline retail investments, turned EBITDA positive in FY26 while continuing to scale across ePharmacy, diagnostics, specialty care, and physical stores.
A few things stood out to me:
- Diagnostics is now running at a ₹600 Cr+ annual revenue pace with 40%+ YoY growth
- ePharmacy has reached breakeven while offering 30–60 minute deliveries in select cities
- The company is pushing deeper into an omnichannel model with plans to expand its retail footprint further
- AI-led personalization and preventive healthcare seem to be becoming a bigger part of the strategy
What I find interesting is that Indian healthtech seems to be moving beyond pure convenience or discount-led growth. The bigger bet now looks like integrated, trust-led healthcare ecosystems that combine pharmacy, diagnostics, care programs, offline touchpoints, and patient data.
Do you think this model can scale sustainably in India, or will execution across offline + online healthcare remain the hardest part?