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Akumentis Healthcare income crosses Rs 400 Cr in FY24; posts Rs 57 Cr profit

Entrackr

· 3d

Pharmaceutical company Akumentis Healthcare has reported a flat scale during the last fiscal year ending March 2024. However, the controlled cost mechanism helped the Thane-based firm to improve its margins and bottom line during the same period. Akumentis Healthcare saw a modest 2.8% increase in its scale to Rs 398 crore in FY24 from Rs 387 crore in FY23, its standalone financial statements filed with the Registrar of Companies show. *Note: Akumentis Healthcare is a wholly-owned subsidiary of Akum Drugs and Pharma Ltd which recorded a 14.3% increase in revenue to Rs 4,178 crore in FY24 from Rs 3,655 crore in FY23. Founded in 2010, Akumentis Healthcare provides medicinal products including creams and medicines across dermatology, orthopedics, gynecology, critical care, cardiovascular, diabetes, and pediatrics. The sale of these products was the sole source of revenue for the company. Akumentis made Rs 10 crore from interest and other miscellaneous sources tallying its overall income to Rs 409 crore in FY24. When it comes to burn, around 36.6% (Rs 122 crore) of its total burn went to employee benefits while cost of material consumed 31.5% (Rs 105 crore) of the overall expenditure in FY24. Its marketing (advertising cum promotion), commission paid to selling agents, traveling, legal and other overheads took Akumentis’ total expenditure to Rs 333 crore in FY24 from Rs 340 crore in FY23. Check TheKredible for more details. The controlled spending on employee benefits and related expenses helped Akumentis Healthcare increase its margins. As a result, the firm’s profit spiked 62.9% to Rs 57 crore in FY24 from Rs 35 crore in FY23. Its ROCE and EBITDA margin improved to 57.46% and 62.90%, respectively. On a unit level, Akumentis spent Rs 0.84 to earn a rupee. FY23-FY24 FY23 FY24 EBITDA Margin 19.26% 62.90% Expense/₹ of Op Revenue ₹0.88 ₹0.84 ROCE 65.38 57.46 Rajaram Samant, who was the co-founder and chief executive officer of Akumentis Healthcare for nearly 10 years, left the company in February 2020. Samant had previously worked at three large public companies: Ranbaxy, Emcure and Wanbury. In 2015, Peak XV had led a $19 million round in Akumentis.