Madhavbuag’s PAT jumps 123% YoY
Madhavbaug, the flagship brand of NSE listed Vaidya Sane Ayurved Laboratories Ltd, a specialist in treating and reversing cardiac related ailments through their Ayurvedic treatment and therapies, reported a 122.27 per cent growth in profit after tax (PAT) for the half year ended September 2022. Madhavbaug’s PAT jumped to Rs 3.01 crore during the April – September period this fiscal from Rs 1.35 crore recorded during the corresponding period last year.
Madhavbaug, which operates 279 clinics and 2 hospitals spread across Eight states in India as of 30th September 2022, saw its gross revenue increase to Rs 45.52 crore during the first half of FY23, up 45.15 per cent from Rs 31.36 crore reported during the year ago period.
The robust all-round performance came on the back of several new initiatives taken by Madhavbaug that had led to significant increase in the number of patients seeking ayurvedic remedies. Besides enormous response to Ayurvedic diet products like ‘Madhav Shakti Atta’ during the last six months, Madhavbaug also further strengthened its Tele Medicine facility to make Ayurvedic treatment accessible to even people living in the remotest part of the country.
“People’s trust and confidence in India’s ancient healthcare science has grown manifold over the last few years. We continued our focus on efficient patient service through several new initiatives including the use of technology and collaboration with leading industry players to increase the reach and scope of our service offerings. I am delighted to share that Madhavbaug managed to serve 12,768 patients across its healthcare clinics during the first half of the current fiscal. This is when compared to 17,382 patients we served during the whole of FY22. This shows that several measures taken by Madhavbuag to increase the awareness and treatment facilities coupled with strong support received by industry from the government led by Honourable Prime Minister Narendra Modi have created a very positive impact at the ground level,” said Dr Rohit Sane, MD & CEO, Vaidya Sane Ayurved Laboratories Ltd (Madhavbaug).
During the first half of fiscal, Madhavbaug Hospitals have tie ups with More than 15 insurance companies (Direct as well as through Insurance TPAs) for cashless treatment for its valuable patients.
Madhavbuag’s state of the art hospital located at Khopoli, Maharashtra received the NABH accreditation in July this year, a mark of international recognition for any hospital and the proof that the hospital provides quality healthcare as per global standards. In a bid to expand its scientific evidence based Ayurveda globally, Madhavbaug had also initiated the process to set up healthcare centres in the Middle East, Europe and US. The company recently announced a long-term strategic alliance with Easy Ayurveda, an online platform providing the most authentic knowledge on Indian Ayurveda. The joint venture plans to develop a telemedicine platform for practicing Ayurveda doctors by creating their own virtual clinics. The plan is to create 10,000 virtual telemedicine clinics for ayurvedic practitioners across the globe.
