Vaidya Sane Ayurved Laboratories Ltd
Incorporated in 2006, Vaidya Sane Ayurved Laboratories Ltd is the business of running
of hospitals & clinics, and sale of Ayurved based medicines[1]
- Market Cap ₹ 298 Cr.
- Current Price ₹ 283
- High / Low ₹ 313 / 81.1
- Stock P/E 44.9
- Book Value ₹ 59.8
- Dividend Yield 0.00 %
- ROCE 13.9 %
- ROE 10.0 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 65.2% CAGR over last 5 years
Cons
- Stock is trading at 4.73 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 3.15% over past five years.
- Company has a low return on equity of 8.25% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 62.30 | 74.61 | 52.01 | 74.24 | 99.03 | 97.33 | 87.11 | 93.29 | |
| 59.20 | 71.70 | 47.54 | 66.92 | 90.03 | 93.30 | 76.98 | 81.39 | |
| Operating Profit | 3.10 | 2.91 | 4.47 | 7.32 | 9.00 | 4.03 | 10.13 | 11.90 |
| OPM % | 4.98% | 3.90% | 8.59% | 9.86% | 9.09% | 4.14% | 11.63% | 12.76% |
| 0.07 | 0.07 | -1.06 | 0.34 | 1.36 | 1.56 | 0.57 | 0.72 | |
| Interest | 0.70 | 1.20 | 0.51 | 0.63 | 0.85 | 1.11 | 0.10 | 0.10 |
| Depreciation | 1.59 | 2.23 | 2.45 | 2.29 | 2.60 | 3.03 | 3.73 | 4.70 |
| Profit before tax | 0.88 | -0.45 | 0.45 | 4.74 | 6.91 | 1.45 | 6.87 | 7.82 |
| Tax % | 44.32% | 24.44% | 15.56% | 27.00% | 24.89% | 28.28% | 28.68% | |
| 0.50 | -0.56 | 0.39 | 3.47 | 5.19 | 1.05 | 4.90 | 5.76 | |
| EPS in Rs | 111.11 | -124.44 | 86.67 | 3.30 | 4.94 | 1.00 | 4.66 | 5.48 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 5.06% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 3% |
| 3 Years: | 5% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 65% |
| 3 Years: | 18% |
| TTM: | 121% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 26% |
| 1 Year: | 91% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | 8% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 0.05 | 10.51 | 10.51 | 10.51 | 10.51 | 10.51 |
| Reserves | 8.74 | 8.17 | 9.72 | 25.37 | 30.30 | 44.51 | 49.19 | 52.41 |
| 8.67 | 5.97 | 1.02 | 1.06 | 0.13 | 1.68 | 1.46 | 0.63 | |
| 11.41 | 14.93 | 15.02 | 13.07 | 14.34 | 14.70 | 12.67 | 12.07 | |
| Total Liabilities | 28.87 | 29.12 | 25.81 | 50.01 | 55.28 | 71.40 | 73.83 | 75.62 |
| 15.66 | 15.51 | 17.16 | 17.01 | 20.95 | 22.08 | 28.23 | 27.24 | |
| CWIP | 2.02 | 3.79 | 0.38 | 1.23 | 1.67 | 2.60 | 0.00 | 0.33 |
| Investments | 0.02 | 0.02 | 0.01 | 21.49 | 14.85 | 11.11 | 26.38 | 25.78 |
| 11.17 | 9.80 | 8.26 | 10.28 | 17.81 | 35.61 | 19.22 | 22.27 | |
| Total Assets | 28.87 | 29.12 | 25.81 | 50.01 | 55.28 | 71.40 | 73.83 | 75.62 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 1.58 | 7.72 | 5.77 | -13.31 | -0.43 | -3.11 | 7.58 | |
| -10.05 | -3.93 | -0.67 | -7.52 | 1.00 | 0.02 | -6.91 | |
| 7.71 | -3.63 | -5.26 | 22.49 | -1.38 | 14.46 | -0.54 | |
| Net Cash Flow | -0.77 | 0.16 | -0.16 | 1.66 | -0.81 | 11.37 | 0.14 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 21.38 | 12.23 | 18.53 | 17.50 | 23.81 | 27.86 | 29.46 |
| Inventory Days | 76.92 | 49.49 | 35.00 | 31.08 | |||
| Days Payable | 137.65 | 138.39 | 146.74 | 111.56 | |||
| Cash Conversion Cycle | -39.34 | -76.67 | -93.21 | 17.50 | 23.81 | 27.86 | -51.02 |
| Working Capital Days | -57.94 | -55.28 | -53.55 | -30.48 | 1.51 | -3.75 | 50.62 |
| ROCE % | 4.74% | 16.97% | 22.50% | 19.93% | 4.81% | 13.86% |
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
10 November 2025 - H1 FY26: INR49.94 crore revenue; INR25–30 crore hospital CAPEX; Malaysia MOU; convertible warrants pending.
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General Updates
10 November 2025 - Corrigendum: Preferential warrants issue totaling INR102.48 crore; proceeds in tranches; utilisation within 24 months; monitoring agency appointed.
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Analysts/Institutional Investor Meet/Con. Call Updates
7 November 2025 - Audio recording of H1 FY26 earnings conference call (07-11-2025) made available on company's website.
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Investor Presentation
6 November 2025 - Investor presentation for half-year ended Sep 30, 2025; FY25 clinic revenue Rs145.55 Cr, hospitals Rs23.20 Cr.
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Outcome of Board Meeting
5 November 2025 - Approved H1 FY26 results; new Company Secretary from Nov 5, 2025; Aaharshastra becomes 100% subsidiary; Malaysia MoU 70:30 profit share
Annual reports
Concalls
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Nov 2025Transcript PPT
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May 2025Transcript PPT
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Nov 2024TranscriptPPT
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Jun 2024Transcript PPT
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May 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Nov 2023Transcript PPT REC
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Nov 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Nov 2022TranscriptNotesPPT
Business Overview[1]
Vaidya Sane Ayurved Laboratories Ltd (Madhavbaug) is among India’s leading chains of cardiac care clinics and hospitals, specializing in non-invasive, Ayurveda-based treatments for chronic conditions like heart disease, diabetes, hypertension, obesity, and joint pain. The company combines traditional medicine with modern diagnostics and technology, supported by in-house manufacturing of Ayurvedic medicines and nutritional products.