Madhavbaug's H1 FY26: A Healthy Dose of Growth and Strategic Expansion

Vaidya Sane Ayurved Laboratories Limited, operating under the well-recognized Madhavbaug brand, has reported a robust performance for the first half of fiscal year 2026. The company, a pioneering healthcare institution integrating traditional Ayurvedic medicine with modern diagnostic methodologies, showcased significant growth across its core verticals. For H1 FY26, Madhavbaug recorded a consolidated revenue of ₹49.94 crore, marking a strong 19.48% year-on-year increase and a 3.9% sequential growth. This healthy performance was primarily driven by enhanced patient engagement across existing clinics and steady traction in wellness product sales, reflecting the growing acceptance of integrated Ayurvedic therapies for chronic and lifestyle-related disorders.

The company's operational discipline and cost optimization efforts were evident in its improved profitability. EBITDA, excluding other income, surged by 49.59% year-on-year to ₹8.62 crore in H1 FY26, translating into a healthy EBITDA margin of 17.26%. This is a notable improvement from 13.79% in H1 FY25. Profit After Tax (PAT) also saw a substantial increase of 28.26% year-on-year, reaching ₹4.84 crore, with a PAT margin of 9.68%. The basic EPS for H1 FY26 stood at ₹4.56. These figures underscore Madhavbaug's ability to deliver sustainable growth and improved profitability, even amidst its expansion initiatives.

Madhavbaug's strategic vision extends beyond financial numbers, focusing on strengthening its foundation for future growth and expanding its reach. A significant development is the Board's approval of a Memorandum of Understanding (MoU) with Maxura Healthcare SDN. BHD., Malaysia. This collaboration marks Madhavbaug's first international partnership, aiming to establish and manage an Ayurvedic Therapy Centre in Malaysia under the 'Maxura Ayurveda Healthcare' brand. This venture not only opens new growth avenues in global Ayurvedic wellness but also positions Madhavbaug as a global name in integrative and preventive healthcare, with profits shared in a 70:30 ratio.

Domestically, the company is actively expanding its healthcare delivery network. The Nagpur Hospital is set to expand its existing capacity by 5 additional beds, with an estimated investment of ₹55 lakhs. Furthermore, Madhavbaug is launching a new initiative, 'Urja Neuro Care', a specialized neuro care facility focusing on integrative treatments for neurological disorders, with an estimated setup cost of ₹1.80 crore. The corporate office has also been relocated to a larger, more efficient workspace in Mahavir Business Park, Thane, effective September 24, 2025, to support its growing team and expanding operations.

Looking ahead, Madhavbaug's management is confident in delivering sustainable growth. For FY26, the company expects revenue to cross ₹115-120 crore, maintaining EBITDA margins above 15% and trending towards 20% by FY28, with PAT margins of 10-12%. The long-term mission for 2028 is ambitious: to reach 5 crore people, establish 1,000 clinics, 10 hospitals, and 5,000 outpatient departments (OPDs) across India. This strategic clarity, coupled with disciplined execution and an increasing acceptance of Ayurvedic therapies, positions Madhavbaug for continued success and value creation for its stakeholders.