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HealthKart Achieves Rs 1,021 Cr Revenue and Rs 37 Cr Profit in FY24, Surpassing Milestones

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HealthKart, a prominent health and nutrition brand, has reported a stellar performance in FY24 with a revenue of Rs 1,021 crore and a profit after tax (PAT) of Rs 37 crore, marking a remarkable recovery from its Rs 164 crore loss in FY23. Supported by an impressive $153 million funding round led by ChrysCapital and Motilal Oswal Alternates, the Gurugram-based company saw its revenue from operations grow by 22.6%, with consolidated revenue reaching Rs 1,068.9 crore.

HealthKart’s eight popular nutritional brands, including MuscleBlaze, HKVitals, and TrueBasics, drove product sales to Rs 990.3 crore, comprising 92.6% of total revenue, while service revenue grew by 23.9% to Rs 30.6 crore. The company managed expenses efficiently, with overall costs rising only 1.5% to Rs 1,032.2 crore, leading to an EBITDA margin of 6.51% and an ROCE of 5.6%.

Its strong financial position is highlighted by Rs 210 crore in cash reserves and Rs 916 crore in current assets, backed by investors like Peak XV Partners, Temasek, and Sofina. HealthKart’s strategic focus on building a trusted brand and avoiding multi-level marketing has helped it secure higher margins and customer loyalty, even as it faces potential regulatory challenges and evolving market trends. As the company leverages its streamlined operations and increasing demand for protein supplements, it is poised for sustained growth and long-term success in the health and nutrition space.

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