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Vaidyaratnam Group plans to double sales to Rs 500 crore by 2030, IPO

The 99-year-old company is the only Ayurveda group that follows the holistic Ashtavaidya tradition. It was founded in 1924 by the late Eledath Thaikkattu Neelakandan Mooss at Thaikkattussery in Thrissur.

The company recorded a turnover of Rs 220 crore of which Rs 170 crore came from products/medicines and the remainder from services in FY22.

This year they expect only a slight increase in turnover to Rs 240 crore (Rs 190 crore of products and the rest of services) due to the sharp increase in input costs.

“Our plan for 2030 is to more than double sales to Rs.500 billion. We hope to advance this primarily by entering new treatment categories such as infertility, sports and lifestyle diseases, among others – and also by launching new medicinal products, particularly in the nutraceutical areas,” Ashtavaidyan Dr. Yadu Narayanan Mooss and Ashtavaidyan Dr. Krishnan Mooss, who are the group’s managing directors, to PTI.

Key components of the plan include new products and services, a renewed focus on research and development, expanding the network and a particular focus on lifestyle diseases, and entering the nutraceuticals segment, said the duo in their 30s. They are the fifth generation family members.

The group has already made a foray into the areas of infertility and maternal care, they said, adding: “We launched an Institute for Fertility and Maternal Care earlier this year to broaden our knowledge base into new areas.

They also plan to enter the field of sports medicine in a big way.

“The R&D team is at an advanced stage of work in the field of sports medicine. Very soon we will be able to make some announcements in this area,” the group said.

“We are also planning geographic expansion in the coming days. The group has a direct presence in Delhi, Mumbai, Chennai, Bangalore and Hyderabad. We have identified a few more locations in the northern and western regions,” said Krishnan, adding that the immediate focus markets will be Jaipur, Kolhapur and Pune in Maharashtra, as well as the major cities of Andhra Pradesh and Telangana.

Stressing the importance of an integrated and holistic healthcare system, Yadu said the younger generation is becoming more aware of the Ayurveda system.

“We receive young people, particularly IT and management professionals, who seek help in areas commonly associated with lifestyle issues. Apart from diabetics, we have also noticed an increasing incidence of high blood pressure, insomnia and irritable bowel syndrome among the youngsters,” he said, adding that the Ashtavaidya system has effective remedies for these ailments.

The group’s focus will be on treatment and prescription drugs, they said, ruling out entering the wellness segment because of their expertise in providing quality treatments and drugs.

“We will concentrate on these areas with renewed strength in research and development.”

Besides infertility and maternal care, they have also identified several other areas with good potential for using our knowledge base and expertise.

“Some of these areas are in various stages of research and it would be too early to comment,” Krishnan said, adding that these are the areas that we hope will bring us more money.

Whether they will list the company, the brothers said they are considering a public matter after the top line reaches the target.

They went on to say that they could also tap into the PE route to raise capital if the expansion plans get off the ground as planned.

The doctors referred to the difficult procurement of the medicinal plants and said that in order to ensure the supply of raw materials, the group was also entering into agreements with farmers in other states, particularly in Uttarakhand and Himachal Pradesh.

They also consider entering into operational and management contracts with other Ayurveda establishments.

They have already signed the 100-bed Vrindhavan Ayurveda Hospital at Baddi in Himachal, which has been closed during the pandemic. As part of the O&M deal, they receive a royalty and staffing commission paid by the original promoters.

The group is also close to signing an agreement with the Saudi government to build a 100-bed Ayurveda hospital in Riyadh.

It operates a 100-bed NABH-accredited facility at its headquarters, as well as a 150-bed medical college on the same site. These will rise to 450 by 2030, they said.

On the production side, which began in 1941, it will increase the capacity of its three units at Thaikkattussery and Chuvannamannu in Thrissur and Pollachi in neighboring Tamil Nadu.

The Ashtavaidya system is based on the Ashtangahridayam, a classic Sanskrit treatise on health care, and the text explains eight areas of kaya (general medicine), bala (pediatrics including obstetrics), graham (mental disorders), urdhvanga (diseases of the head (eyes). , ears), nose, throat and teeth), Shalya (surgery and treatment of external injuries), Damshtra (toxicology (treatment of poisoning, snake and insect bites), Jara (geriatrics and rejuvenation) and Vrisha (aphrodisiacs and treatment of infertility).

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