Surge in patients sees double digit growth across its treatment centres
The company is planning to tie up with over 30 insurance company to its facilitate patients
India, May 6: Madhavbaug, brand of Vaidya Sane Ayurved Laboratories Ltd, a specialist in treating and reversing cardiac related ailments through their Ayurvedic treatment and therapies, reported a whopping 785 per cent growth in net profit after tax (PAT) in FY2021-22 despite facing Covid related lockdowns in the initial few months. Madhavbaug’s net profit stood at Rs 3.46 crore in FY 22 as compared to Rs 39 lakhs in FY21.
Madhavbaug, which operates 272 clinics and 2 hospitals spread across eight states in India saw its gross revenue increase to Rs 75.04 crore in FY22, a 43 per cent rise from Rs 52.37 crore in FY 21 while its EBIDTA grew 66 per cent from Rs 4.36 crore to Rs 7.25 crore during the same period.
The robust all-round performance came on the back of solid double-digit growth witnessed across its treatment verticals amidst a surge in the number of patients seeking ayurvedic remedies underscoring the growing relevance, acceptability and efficacy of the traditional line of treatment.
“I am happy to announce that Madhavbaug has shown remarkable business performance in FY21-22 achieving pre-covid turnover with strong contribution from all over segments after overturning barriers like lockdowns in initial months of the year. Both our clinics, which include company owned as well as Franchise owned clinics along with hospitals, have recorded highest ever revenues and EBIDTA. During this reporting period, we continued to focus on collaboration with industry market player across our businesses with view to efficient patient services and to drive future growth,” said Dr Rohit Sane, MD & CEO, Vaidya Sane Ayurved Laboratories Ltd (Madhavbaug).
“In FY 2022-23, with a vision to serve patients more efficiently, Madhavbaug is determined to provide patient finance, education model for fellow doctors, empanelment with insurance companies, corporates, NABH approvals for the hospitals and clinics”, he added.
To bring innovative healthcare services including pathology and investigation services to patient’s doorsteps, Madhavbaug has collaborated with Bengaluru headquartered Raphacure, a leading health management company. To bridge geographical barriers and reach patients even in remote parts of the country, Madhavbaug has also introduced the tele- medicine facility. After tying up with ICICI Lombard General Insurance to provide a host of ayurvedic treatment and wellness solutions to policyholders, the first ayurvedic institution to do so, it is now planning to tie-up with 30 more insurance companies.
With more than a decade experience in preventive cardiology, Madhavbaug has a strong track record of patients who have obtained relief from life threatening diseases with Madhavbaug’s treatments. Founded in 2006 with a vision to reduce the mortality and morbidity due to heart disease and lifestyle disorders, Madhavbaug has established a strong foothold in non-invasive cardiac care with 274 clinics and 2 hospitals.