At a Glance
Aayush Wellness Ltd is a nutraceutical + digital healthcare platform that rose from literal ashes (₹16.8) to spiritual awakening (₹224) in under 2 years. The company now trades at 132x book value and P/E of 323, but flaunts a ROE of 51%. It’s expanding into telemedicine, diagnostics, and Southeast Asia. Red flag? Or red carpet to multibagger glory?
1. 🧪 Introduction – Baba Ramdev 2.0 with Zoom Calls?
Move over Patanjali – Aayush Wellness is here to “digitally disrupt” your chakras. This ex-obscure BSE microcap has reincarnated itself into a “holistic wellness platform” combining personalised nutraceuticals, telemedicine, and health kiosks.
Oh, and its stock is up ~1200% in one year.
2. 💼 Business Model – WTF Do They Even Do?
Let’s decode the wellness tech vibes:
🧴 Nutraceuticals – Supplements and health boosters
📲 Teleconsultation App – “Aayush Health” launched in July 2025
🏥 Diagnostics + Preventive Health Kiosks – Deployed in Mumbai with ₹25 Cr investment
🌐 Digital Platform – Doctor consults, wellness campaigns, nutritional programs
🌏 Global Expansion – Singapore subsidiary for Southeast Asia
Basically: Take a spoon of Ayurveda, sprinkle Zoom calls, bake in a Shopify-like UI, and boom – unicorn dreams.
3. 📊 Financials – Profit, Margins, ROE, Growth
| Metric | FY25 | YoY Growth |
|---|---|---|
| Revenue | ₹73.4 Cr | 🔼 +8645% |
| Net Profit | ₹3.37 Cr | 🔼 +489% |
| ROE | 51.1% | 🔥 (highest ever) |
| OPM | 4.55% | Decent, finally |
| EPS | ₹0.69 | From losses |
🧠 FY23 sales were just ₹0.6 Cr. FY25? ₹73 Cr. That’s not growth. That’s divine intervention.
4. 📈 Valuation – Is It Cheap, Meh, or Crack?
| Metric | Value |
|---|---|
| CMP | ₹224 |
| P/E | 323x |
| P/B | 132x |
| Market Cap | ₹1,090 Cr |
| Book Value | ₹1.70 |
This is not a stock, it’s a cult. Even Baba Elon would say, “Bro that’s too expensive.”
Fair Value Range (FV): ₹50–₹80 based on 15–25x normalized FY26E EPS of ₹2–₹3 (aggressive). Current price = 🚨 Premium Nirvana.
5. 🍿 What’s Cooking – News, Triggers, Drama
- ✅ July 2025: Launched Aayush Health app targeting ₹13,500 Cr digital health market
- ✅ June 2025: Entered diagnostics + teleconsultation biz (₹1.11 Lakh Cr TAM)
- ✅ June 2025: Setup Singapore subsidiary
- ✅ April 2025: Invested ₹25 Cr in smart health kiosks
- ✅ Q4FY25: Blockbuster results
Next Trigger? Expansion to Tier 2 cities, onboarding celeb wellness influencers, or SEBI probe. All possible.
6. 🧾 Balance Sheet – How Much Debt, How Many Dreams?
| Item | FY25 |
|---|---|
| Equity | ₹4.87 Cr |
| Reserves | ₹3.41 Cr |
| Borrowings | ₹0.05 Cr |
| Cash & Bank | ₹(8.56) Cr Net Flow |
🧘♀️ Debt-Free with equity infusion. But cash flow negative. Funding the hustle with equity dilution.
7. 💵 Cash Flow – Sab Number Game Hai
| Year | CFO (₹ Cr) | FCF Reality |
|---|---|---|
| FY25 | -₹8.5 Cr | 🔻Burning |
| FY24 | -₹0.5 Cr | 🔻Again burn |
| FY23 | +₹4.6 Cr | 🎉 Profit-ish |
Cash flow swings like a Kapil Sharma punchline. FY25 is expansion-fueled burn mode.
8. 📐 Ratios – Sexy or Stressy?
| Ratio | FY25 | Comments |
|---|---|---|
| ROCE | 51.02% | Stunning |
| ROE | 51.1% | Chef’s kiss |
| OPM | 4.55% | Could improve |
| Dividend Yield | 0% | Zero spiritual returns |
P/E 323 with ROE 51% is like seeing Virat Kohli score 250… in a practice match.
9. 💸 P&L Breakdown – Show Me the Money
| Year | Sales | Expenses | PAT |
|---|---|---|---|
| FY25 | ₹73.4 Cr | ₹70 Cr | ₹3.37 Cr |
| FY24 | ₹0.6 Cr | ₹0.25 Cr | ₹0.57 Cr |
| FY23 | ₹8.1 Cr | ₹8.9 Cr | -₹0.34 Cr |
Company rose from ₹60 lakh sales to ₹73 Cr in 24 months. There’s a story here. Or a script.
10. ⚔️ Peer Comparison – Who Else in the Game?
| Company | P/E | ROE | OPM | Remarks |
|---|---|---|---|---|
| Nestle | 75 | 83% | 23% | FMCG God |
| Britannia | 64 | 52% | 18% | Biscuit Don |
| Zydus Well | 37 | 6% | 14% | Legit Wellness |
| Aayush Wellness | 323 | 51% | 4.5% | Ultra-premium fantasy |
Despite no dividend and low margins, Aayush is the most expensive. “Valuation is a state of mind.”
11. 🧠 Misc – Shareholding, Promoters, Shenanigans
- 📉 Promoter Holding: 32.5% → 0% in 12 months
- 📈 Public Shareholding: 67% → 100%
- 👥 No FIIs/DIIs, only brave retail warriors (20,000+ shareholders now)
- 🪙 Low equity: ₹4.87 Cr → Easy to pump
The entire promoter group exited, replaced by… the great unknown? 🤨
12. 🚨 EduInvesting Verdict™
Aayush Wellness is a microcap beast that pulled off a Baba-to-Batman transformation with:
- Wild revenue spike
- Spiritual P/E level
- No promoter backing
- Smart branding + PR blitz
But the P/B of 132x, zero FII interest, and negative cash flows scream: “Bro, take a deep breath and drink some ashwagandha.”
Verdict:
🚩Too hot to touch right now.
🧪 Monitor FY26 earnings + actual diagnostic revenue + Singapore ramp-up.
✍️ Written by Prashant | 📅 8 July 2025
Tags: Aayush Wellness, nutraceuticals, telemedicine, SME multibagger, healthcare stocks, BSE microcap, Southeast Asia expansion, diagnostic stocks, Indian startups, wellness tech, ROE stocks, high P/E stocks, EduInvesting
