KRM Ayurveda IPO: Scaling Traditional Wellness via Modern Telemedicine?
KRM Ayurveda Limited, a Delhi-based healthcare network specializing in chronic disease management and Ayurvedic products, has launched its ₹77.49 crore SME IPO. This post explores the company’s expansion into global telemedicine, its recovery in profitability for FY25, and the critical details investors need to know before the bidding closes on January 21, 2026.
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1. Who is KRM Ayurveda Limited?
Founded in 2019, KRM Ayurveda is a multi-specialty healthcare provider that blends traditional Ayurvedic wisdom with modern clinical standards. They are widely recognized for their focus on specialized care for chronic conditions such as Kidney Disorders (CKD), Liver Cirrhosis, Diabetes, and Arthritis.
Their Operational Ecosystem:
Healthcare Facilities: Operates a network of 6 multi-specialty hospitals and 5 clinics across India.
Manufacturing: An in-house GMP-certified unit producing over 300 Ayurvedic medicines, oils, and supplements.
Digital Outreach: A robust telemedicine platform that allows for global consultations and product distribution.
2. Key IPO Details & Timeline
The IPO is entirely a Fresh Issue of 57.40 lakh shares, aimed at funding the company's next phase of technological and physical growth.
| Event | Date / Details |
|---|---|
| IPO Open Date | Monday, January 19, 2026 |
| IPO Close Date | Wednesday, January 21, 2026 |
| Price Band | ₹128 to ₹135 per share |
| Lot Size | 1,000 Shares |
| Minimum Investment (Retail) | ₹2,70,000 (Min 2 Lots / 2,000 shares) |
| Allotment Date | Thursday, January 22, 2026 |
| Listing Date (Tentative) | Tuesday, January 27, 2026 |
| Listing Platform | NSE SME |
3. Financial Highlights: A Year of Recovery
KRM Ayurveda saw a significant "V-shaped" recovery in its profitability during the 2024–2025 fiscal year.
Revenue (FY25): ₹76.95 Crore (Grew 14% from ₹67.57 Cr in FY24).
Profit After Tax (PAT): Surged to ₹12.10 Crore in FY25, up from ₹3.41 Cr the previous year.
Profit Margins: PAT margins expanded from ~5% to a healthy 15.7%.
Return on Equity (ROE): Reported a high 67.86% for FY25.
4. Objectives of the Issue
The company plans to utilize the ₹77.49 crore proceeds for:
Telemedicine Infrastructure (₹13.67 Cr): Constructing a dedicated facility to centralize global remote consultations.
Working Capital (₹22.90 Cr): Supporting day-to-day operations and inventory management.
Debt Repayment (₹12.50 Cr): Reducing high-interest borrowings to improve the bottom line.
Tech & HR: Investing in CRM software and hiring specialized medical staff.
5. Investment Analysis: Strengths vs. Risks
Strengths:
Niche Specialization: High demand for alternative treatments for chronic lifestyle diseases like kidney failure and diabetes.
Integrated Model: Controlling both the treatment (hospitals) and the cure (in-house medicine production) ensures better margins.
Asset Growth: Total assets have grown by over 50% in the last year, indicating rapid physical expansion.
Risks:
High Attrition: The company reported a staff turnover rate of nearly 78% in FY24, which could impact service quality.
Geographic Concentration: Over 68% of revenue is concentrated in the Delhi-NCR and Haryana regions.
Leased Premises: Most hospital facilities are on lease, posing risks of non-renewal or rent hikes.
Legal Proceedings: The company faces outstanding consumer complaints regarding medical negligence and product efficacy.
6. Conclusion
KRM Ayurveda is positioning itself as a "Tech-Enabled Wellness" play. While the revenue concentration and high attrition are concerns, the sharp jump in profitability and the move toward a global telemedicine model make it an interesting prospect in the AYUSH sector. With a post-IPO P/E ratio that is competitive compared to peers like Jeena Sikho, it may appeal to investors looking for exposure to the booming Indian wellness market.