Vaidya Sane Ayurved Laboratories Limited (Madhavbaug) - Comprehensive Analysis Report

Summary

Vaidya Sane Ayurved Laboratories Limited, operating under the brand Madhavbaug, is a pioneering medical service institution founded in 2006 by Dr. Rohit Sane. It integrates traditional Ayurvedic medicine with modern diagnostic techniques to address and reverse chronic lifestyle ailments such as cardiac disease, diabetes, hypertension, and obesity. The company's core mission is to mitigate the mortality and morbidity associated with heart disease and lifestyle disorders, striving to make clinically validated Ayurvedic wellness accessible across India. Madhavbaug has a significant presence in non-invasive cardiac care, having successfully treated over 10 lakh patients. Its unique blend of ancient wisdom and modern science positions it as a significant player in the evolving healthcare landscape, with a vision to standardize Ayurvedic therapies in preventive cardiology.

1. Strategic Focus & Objectives

Core Objectives

Madhavbaug's strategic focus is centered on the reversal of lifestyle disorders through clinically validated Ayurveda.

Disease Reversal: Provide advanced Ayurvedic treatments for heart disease, diabetes, hypertension, and obesity, aiming for reversal rather than just management.

Clinical Validation: Utilize modern diagnostics, diet and physiotherapy, and advanced Ayurveda to achieve measurable improvements in patients' health. These improvements include enhanced exercise tolerance, better symptom grades, increased maximum oxygen uptake, and metabolic equivalents (METs), as well as reduced HbA1c levels for diabetic patients.

Accessibility: Expand its network to make clinically validated Ayurvedic wellness widely available across India, particularly in rural populations.

Specialization Areas

Integrated Healthcare: Madhavbaug uniquely blends traditional Ayurvedic medicine with modern scientific validation and diagnostic techniques.

Non-invasive, Multidisciplinary Approach: Emphasizes non-invasive and holistic treatments, incorporating copyrighted Ayurvedic Panchakarma therapies, diet, exercise, yoga, and pranayam.

Data-Driven Treatment Protocols: Grounded in extensive clinical data, the company has built one of India's largest clinical datasets in chronic disease reversal, particularly for cardiac health, diabetes, obesity, and metabolic disorders.

Target Markets

Madhavbaug primarily targets individuals suffering from chronic lifestyle ailments, including cardiac disease, diabetes, hypertension, and obesity.

The company aims to reach both urban and rural populations nationwide, particularly those seeking non-invasive and natural solutions for managing chronic health issues.

2. Financial Overview

Funding History

Madhavbaug Healthcare Private Limited, incorporated in March 2010, had an authorized capital of ₹1.0 lakh and a paid-up capital of ₹1.0 lakh as of its last financials update in March 2017.
Vaidya Sane Ayurved Laboratories Limited, operating as Madhavbaug, launched an Initial Public Offering (IPO) in February 2022, listing on the Emerge platform of the National Stock Exchange of India Limited (NSE).
As of November 2024, the company's revenue from operations for H1 FY25 was ₹41.80 crore. The Profit After Tax (PAT) for H1 FY25 was ₹3.26 crore, compared to ₹1.18 crore in H1 FY24, an increase of 176%.

FY21:

Gross Revenue: ₹52.37 crore

Profit After Tax (PAT): ₹39.2 lakhs

FY22:

Gross Revenue: ₹75.04 crore, a 43% increase (₹7,504.93 lakhs)

Profit After Tax (PAT): ₹3.46 crore, a 785% growth (₹346.89 lakhs)

FY23:

Net Revenue: ₹99.0 crore

Profit After Tax (PAT): ₹5.19 crore

FY24:

Revenue from Operations: ₹97.33 crore (₹9,733.44 lakhs)

Profit After Tax (PAT): ₹1.04 crore (₹104.50 lakhs)

Enterprise collection for FY24 was ₹149.08 Crore.

The company has indicated a strategy for inorganic growth, including considering acquisitions of stakes in companies with wide distribution channels, call centers, and food and medicine manufacturers.

3. Product Pipeline

Key Products/Services

Madhavbaug's primary offerings revolve around non-invasive and holistic treatments for chronic lifestyle diseases.

Heart Disease Reversal: Treatments focused on increasing blood supply to the heart by improving endothelium and promoting coronary collaterals. These include copyrighted Ayurvedic Panchakarma therapies, alongside diet, exercise, yoga, and pranayam.

Diabetes Reversal: Protocols designed to reduce HbA1c levels and manage Type II diabetes through a combination of Ayurvedic interventions, diet, and lifestyle modifications.

Hypertension Management: Non-invasive therapies aimed at normalizing blood pressure.

Obesity and Metabolic Disorders: Comprehensive programs integrating diet and physiotherapy with advanced Ayurveda to address obesity and metabolic imbalances.

Preventive Cardiac Care: Emphasizes strengthening heart exercise capacity, also known as Vo2 max.

Herbal Formulations: Develops and refines herbal products, such as "Madhavprash," a research-backed Ayurvedic heart health supplement, which achieved over 10,000 units sold online per month by June 2025.

4. Technology & Innovation

Technology Stack

Madhavbaug distinguishes itself through the systematic integration of traditional Ayurvedic medicine with modern scientific validation and diagnostic techniques.

Modern Diagnostics: Utilizes a range of modern diagnostic tools for patient assessment and outcome tracking, including ECG, 2D Echo, blood biomarkers, MET scores, and HbA1c levels. This converts subjective Ayurvedic responses into objective parameters.

Clinical Data Platform: Has developed one of India's largest clinical datasets for chronic disease reversal, particularly in cardiac health, diabetes, obesity, and metabolic disorders, supporting data-driven methodologies.

Research & Development: Every treatment protocol, including Panchakarma-based interventions and herbal formulations, undergoes scientific study, standardization, and continuous refinement based on results from over 10 lakh patients.

Reverse Pharmacology: Explores the efficacy of various herbs through animal trials for treating conditions such as diabetes, high blood pressure, atherosclerosis, and demonstrating anti-platelet activity.

Proprietary Developments

Sampurna Hridayashuddhikar: A copyrighted Ayurvedic Panchakarma procedure designed by Dr. Rohit Sane for chronic heart failure.

Standardized Treatment Protocols: Developed defined Ayurvedic treatment protocols for various cardiac disorders, including chronic heart failure, ischemic heart disease, and low ejection fraction after a heart attack, as well as for Type II diabetes, high blood pressure, deranged lipids, and obesity.

Scientific Methodologies

Madhavbaug has published over 100 research papers, including 83 manuscripts and 500 research paper publications.

These research findings have been presented on national and international cardiology platforms like Lancet, World Cardiology Congress, and the British Journal of Medicine.

A randomized controlled trial comparing Madhavbaug's therapy with conventional modern management for chronic heart failure patients was published in the Indian Heart Journal.

5. Leadership & Management

Executive Team

Dr. Rohit Madhav Sane (Chairman & Managing Director):

Founder of Madhavbaug, he envisioned an integrated approach to managing chronic cardiac conditions.

An MBBS graduate from Aurangabad University, he holds a fellowship in Cardiac Rehabilitation from Apollo Hospitals and is an Ex-Fellow of the Royal Society of Health (UK).

His pioneering work in research and scientific validation led to the "Sampurna Hriday Shuddhikaran" treatment.

LinkedIn Profile: [https://www.linkedin.com/in/dr-rohit-sane-b3490710/](https://www.linkedin.com/in/dr-rohit-sane-b3490710/)

Dr. Vidyut Bipin Ghag (Whole Time Director):

Associated with Madhavbaug since 2006, previously serving as Chief Administrative Officer and Medico-legal Consultant.

Holds a BAMS from Ayurved Mahavidyalay, Sion, Mumbai, and a PGDM DLP in Healthcare Administration from Welingkar's Institute of Management.

Mr. Shripad Upasani (Chief Executive Officer):

Possesses over 25 years of integrated experience in the insurance and healthcare industries.

Holds a Bachelor of Science and an MBA in Marketing.

Mr. Yogesh Walawalkar (Senior Vice President - Marketing & Corporate Relationships):

Responsible for planning, developing, and executing various marketing and advertising initiatives.

Holds a bachelor's in law from GLC Mumbai and a Diploma in Business Management from Wellingkar Institute.

Mr. Narendra Pawar (Chief Financial Officer):

Has 30 years of experience in Accounting, Finance, Tax Management, and Taxation.

Holds an MBA (Finance) from ICFAI University, Hyderabad, and a Diploma in Tax Management.

Ms. Sapna Kamaldas Vaishnav (Company Secretary & Compliance Officer):

Appointed effective August 17, 2024.

An Associate Member of the Institute of Company Secretaries of India (ICSI) with Bachelor's degrees in Commerce and Law.

Holds over 6 years of corporate experience in secretarial & legal compliance and corporate governance.

Recent Leadership Changes

Ms. Sapna Vaishnav was appointed as the Company Secretary and Compliance Officer effective August 17, 2024.

6. Talent and Growth Indicators

Hiring Trends and Workforce

Madhavbaug employs over 450 Ayurveda Physicians.

The company focuses on continuous professional development, having trained over 500 doctors in preventive cardiology.

By 2030, Madhavbaug aims to train about 10,000 Ayurvedic physicians through its Institute of Preventive Cardiology to contribute to its growing network.

Company size and expansion metrics

Current Footprint (as of November 2024 / September 2024):

350+ clinics across India, including 33 company-owned, 254 franchise, and 63 OPD/mini clinics.

4 hospitals: Khopoli, Nagpur, Vizag, and Vadodara. (One source mentioned 3 hospitals as of Sep 2024: Khopoli, Nagpur, Vishakhapatnam)

Successfully treated over 10 lakh patients.

Rural reach through 60+ OPDs and Mini Clinics.

Future Growth Trajectory (by 2025/2030):

Expansion Target: Aim to establish 1,000 clinics and 10 hospitals across India.

Rural Outreach: Plan to build 5,000 franchised OPDs across the nation to serve rural populations with limited access to cardiac treatments.

Patient Volume: Target to serve three to four crore people.

Hospital Capacity Expansion: Plans to add 100 more beds at its Khopoli hospital and 20 more at its Nagpur hospital over the next 12-18 months.

Inorganic Growth for Hospitals: The long-term vision for acquiring 10 additional hospitals involves converting existing hospitals or resorts into Madhavbaug facilities, focusing on locations in North India, Gujarat, and parts of South India.

7. Social Media Presence and Engagement

Digital Footprint

Madhavbaug maintains a robust and active presence across major social media platforms, leveraging them for public education, brand promotion, and community engagement.

LinkedIn: The company utilizes LinkedIn to project a professional image, sharing industry insights, highlighting achievements, and posting career opportunities, reinforcing its growth and innovation in Ayurvedic cardiology.

LinkedIn Profile: [https://www.linkedin.com/company/madhavbaug](https://www.linkedin.com/company/madhavbaug)

Facebook: Madhavbaug's Facebook page is used for broad public outreach, featuring patient testimonials, health tips, and promoting awareness about heart health and lifestyle management through Ayurveda.

Facebook Profile: [https://www.facebook.com/Madhavbaug.In/](https://www.facebook.com/Madhavbaug.In/)

YouTube: The YouTube channel hosts educational content, including videos on Ayurvedic treatments, success stories, expert talks, and information about various health conditions addressed by Madhavbaug.

YouTube Profile: [https://www.youtube.com/@Madhavbaug](https://www.youtube.com/@Madhavbaug)

Instagram: Instagram serves as a platform for visual content, health awareness campaigns, and showcasing the organization's wellness philosophy through engaging graphics and short videos.

Instagram Profile: [https://www.instagram.com/madhavbaug_ayurved/](https://www.instagram.com/madhavbaug_ayurved/)

Brand Messaging and Positioning

Through these platforms, Madhavbaug positions itself as a thought leader in integrated Ayurvedic and modern medicine, fostering a community around preventive cardiac care and lifestyle management. The company also utilizes social media for campaigns, such as "Health Ki Ghar Wapsi", aligning with its mission to innovate cardiac care with Ayurveda and scientific backing.

8. Recognition and Awards

Industry Recognition

Madhavbaug has received considerable acclaim for its innovative approach and contributions to healthcare.

Awards & Accolades: The company boasts “200+ Awards & Recognitions”.

Leadership Recognition: Dr. Rohit Madhav Sane, Founder & Managing Director, was honored as “AYURVEDA ICON OF INDIA” and “Personality of the Year” by Biztory Business Solutions Pvt Ltd for his pioneering work in non-invasive cardiac care and evidence-based Ayurveda, particularly for a Lancet-published breakthrough in non-invasive heart blockage treatment.

Media Coverage: Madhavbaug has been extensively covered by media for its company updates, strategic partnerships, and health awareness campaigns.

Research Recognition: Its research efforts have led to numerous published papers in national and international cardiology journals, including a randomized controlled trial published in the Indian Heart Journal. More than 15 research papers were recognized and published in journals like the Journal of the Association of Physicians of India (JAPI) and the European Journal of Biomedical and Pharmaceutical Sciences in FY 2021-22.

Innovation: Recognized for its leadership in standardizing Ayurveda therapies in the preventive cardiology sector.

9. Competitive Analysis

Major Competitors

Madhavbaug operates in the integrated healthcare sector, focusing on cardiac care and lifestyle disease reversal through a unique blend of Ayurveda and modern medicine. Its key competitors include:

Artemis Cardiac Care: A chain of cardiology hospitals.

Maple Hospital: A provider of cardiac care and medical services.

Kant Multispeciality Hospital: A multispeciality hospital offering advanced medical and surgical treatments.

Competitive Positioning

Madhavbaug differentiates itself significantly from conventional healthcare providers by:

Integrated Approach: Pioneering a model that scientifically validates Ayurvedic treatments for chronic diseases, particularly in cardiology, which provides a unique value proposition compared to competitors that may primarily focus on conventional Western medicine.