Vaidya Sane Ayurved Laboratories Ltd

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Vaidya Sane Ayurved Laboratories Ltd

₹ 161 -4.08%
16 Oct - close price
madhavbaug.org NSE - SME: MADHAVBAUG
About

Incorporated in 2006, Vaidya Sane Ayurved Laboratories Ltd is the business of running
of hospitals & clinics, and sale of Ayurved based medicines[1]

Key Points

Business Overview:[1][2]
Vaidya Sane Ayurved Laboratories Ltd. (Madhavbaug)
is one of India’s leading chains of cardiac care
clinics and hospitals, offering non-invasive,
Ayurveda-based treatments for chronic conditions
such as heart disease, diabetes, hypertension, obesity,
and joint pain. The company combines traditional Ayurvedic
therapies with modern diagnostics and technology, supported
by in-house manufacturing of Ayurvedic medicines and nutritional products.
Its business model comprises three segments—clinics, hospitals, and products. The patients undergo a standardised 12-month treatment protocol, consisting of an intensive 3-month phase followed by a 9-month maintenance phase, incorporating Panchakarma, customised diet kits, and herbal medicines.

Website NSE - ST
  • Market Cap ₹ 169 Cr.
  • Current Price ₹ 161
  • High / Low ₹ 335 / 147
  • Stock P/E 34.4
  • Book Value ₹ 76.5
  • Dividend Yield 0.00 %
  • ROCE 9.57 %
  • ROE 7.04 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 6.55% over last 3 years.
  • Working capital days have increased from 26.8 days to 89.1 days

* 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.

Peer comparison

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Half Yearly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024 Sep 2024 Mar 2025 Sep 2025 Mar 2026
31.36 43.15 45.53 53.50 50.07 47.26 41.02 46.10 47.19 52.44
28.75 38.87 41.09 49.62 48.28 45.88 36.66 39.54 41.07 48.24
Operating Profit 2.61 4.28 4.44 3.88 1.79 1.38 4.36 6.56 6.12 4.20
OPM % 8.32% 9.92% 9.75% 7.25% 3.57% 2.92% 10.63% 14.23% 12.97% 8.01%
0.00 0.34 0.83 0.54 0.47 1.09 0.82 -0.28 0.97 1.22
Interest 0.11 0.09 0.11 0.07 0.16 0.09 0.08 0.78 0.07 0.74
Depreciation 1.17 1.11 1.16 1.44 1.55 1.48 1.77 1.96 2.74 2.88
Profit before tax 1.33 3.42 4.00 2.91 0.55 0.90 3.33 3.54 4.28 1.80
Tax % -2.26% 38.30% 24.75% 25.09% 25.45% 30.00% 29.13% 28.25% 24.77% 5.00%
1.35 2.11 3.01 2.18 0.42 0.63 2.36 2.54 3.22 1.71
EPS in Rs 1.94 2.01 2.86 2.07 0.40 0.60 2.24 2.42 3.06 1.63
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
62.30 74.61 52.01 74.24 99.03 97.33 87.11 99.62
59.20 71.70 47.54 66.92 90.03 94.07 76.98 89.30
Operating Profit 3.10 2.91 4.47 7.32 9.00 3.26 10.13 10.32
OPM % 4.98% 3.90% 8.59% 9.86% 9.09% 3.35% 11.63% 10.36%
0.07 0.07 -1.06 0.34 1.36 1.47 0.57 2.19
Interest 0.70 1.20 0.51 0.63 0.85 0.25 0.10 0.81
Depreciation 1.59 2.23 2.45 2.29 2.60 3.03 3.73 5.61
Profit before tax 0.88 -0.45 0.45 4.74 6.91 1.45 6.87 6.09
Tax % 44.32% 24.44% 15.56% 27.00% 24.89% 28.28% 28.68% 18.88%
0.50 -0.56 0.39 3.47 5.19 1.05 4.90 4.93
EPS in Rs 0.71 -0.80 0.56 3.30 4.94 1.00 4.66 4.69
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 5.06% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 0%
TTM: 14%
Compounded Profit Growth
10 Years: %
5 Years: 40%
3 Years: -2%
TTM: -14%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -19%
1 Year: -38%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 7%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
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 69.88
8.67 5.97 1.02 1.06 0.13 1.68 1.46 2.59
11.41 14.93 15.02 13.07 14.34 14.03 12.67 14.02
Total Liabilities 28.87 29.12 25.81 50.01 55.28 70.73 73.83 97.00
15.66 15.51 17.16 17.01 20.95 22.08 26.97 28.69
CWIP 2.02 3.79 0.38 1.23 1.67 2.60 1.26 1.40
Investments 0.02 0.02 0.01 21.49 14.85 24.88 26.38 43.21
11.17 9.80 8.26 10.28 17.81 21.17 19.22 23.70
Total Assets 28.87 29.12 25.81 50.01 55.28 70.73 73.83 97.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.58 7.72 5.77 -13.31 -0.43 3.39 7.58 4.17
-10.05 -3.93 -0.67 -7.52 1.00 -17.42 -6.91 -22.08
7.71 -3.63 -5.26 22.49 -1.38 14.46 -0.54 16.73
Net Cash Flow -0.77 0.16 -0.16 1.66 -0.81 0.43 0.14 -1.17
Free Cash Flow -7.39 3.87 5.08 -16.30 -7.41 -1.70 0.31 -3.30
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 65% 272% 143% -166% 24% 129% 85% 61%

Ratios

Standalone / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 21.38 12.23 18.53 17.50 23.81 21.90 29.46 34.88
Inventory Days 76.92 49.49 35.00 39.92 31.08 19.42
Days Payable 137.65 138.39 146.74 113.10 111.56 96.97
Cash Conversion Cycle -39.34 -76.67 -93.21 17.50 23.81 -51.28 -51.02 -42.67
Working Capital Days -57.94 -55.28 -53.55 -30.48 1.51 -5.25 -3.52 89.14
ROCE % 4.74% 16.97% 22.50% 19.93% 3.07% 13.86% 9.57%

Insights

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Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Number of Franchise Clinics
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Number of Insurance Companies Empanelled
Count
Total Number of Clinics
Count
Total Number of Hospital Beds
Count
New Patient Footfall
Count
Total Patient Footfall
Count
Care Plans Sold
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Sep 2024Mar 2025Sep 2025Dec 2025Mar 2026Sep 2026
66.34% 66.34% 66.34% 66.34% 66.34% 66.34% 66.34% 66.34% 66.34% 66.34% 66.34% 66.34%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.21% 0.00% 0.00% 0.00%
33.68% 33.67% 33.67% 33.66% 33.66% 33.66% 33.66% 33.66% 33.45% 33.66% 33.66% 33.66%
No. of Shareholders 534595637731846881821787712700671764

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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