SUMMARY
- HealthKart’s revenue from operations saw a 22.6% growth to Rs 1,021 crore in FY24.
- Total expenses only rose by a marginal 1.5% to Rs 1,032.2 crore in FY24.
- HealthKart posted a PAT of Rs 36.6 crore in FY24, up from a net loss of Rs 75.5 crore in FY23.
Gurugram-based health and nutrition brand HealthKart‘s revenue from operations saw a 22.6% growth to Rs 1,021 crore in FY24 from Rs 832.4 crore in FY23 according to its consolidated financial statements, accessed from the Registrar of Companies (RoC). The company’s total revenue rose by 22.7% to Rs 1,068.9 crore from Rs 851.8 crore in the same period.
HealthKart is the owner and manufacturer of eight nutritional brands, including well-known supplement brands such as MuscleBlaze, The Protein Zone, TrueBasics, HKVitals, bGreen, Nouriza, and Gritzo.
The majority of HealthKart’s revenue, 92.6%, came from product sales, which saw a 22.6% increase to Rs 990.3 crore in FY24. Collections from service-based activities rose by 23.9% to Rs 30.6 crore. Non-operating revenue grew by 2.4 times, reaching Rs 48 crore in FY24 from Rs 19.4 crore in FY23.
The cost of materials remained the highest expense, increasing by 14.9% to Rs 494.5 crore in FY24. Employee benefit expenses also saw a rise of 11.2% to Rs 120.6 crore, which includes Rs 9.4 crore for ESOP costs. Advertising expenses stayed steady at Rs 188.8 crore, and other expenses added up to an additional Rs 228.3 crore. HealthKart’s total expenses only rose by a marginal 1.5% to Rs 1,032.2 crore in FY24.
HealthKart posted a profit after tax (PAT) of Rs 36.6 crore in FY24, a marked improvement from a net loss of Rs 75.5 crore in FY23.
The expenses for FY23 included a net loss of Rs 89 crore due to the remeasurement of financial liabilities at fair value through profit or loss as FVTPL.
The company’s ROCE and EBITDA margin stood at 5.6% and 6.51%, respectively. On a unit basis, the company spent Rs 1.01 to earn a rupee in FY24. The company reported Rs 210 crore in cash and bank balances and had a current asset value of Rs 916 crore as of FY24.
HealthKart has secured $153 million in 2024, marking one of the largest funding rounds of the year. This secondary round was led by ChrysCapital and Motilal Oswal Alternates, following the improvement in the company’s financial performance in FY24.
To date, HealthKart has secured approximately $360 million in funding, with Peak XV Partners, Temasek, and Sofina among its leading investors.
