Pristyn Care, a surgery-focused hospital chain, reported a 32.7% increase in revenue for the fiscal year ending March 2024, reaching ₹601 crore, up from ₹453 crore in FY23.

Revenue Breakdown

• Healthcare Services: Contributed ₹346 crore, accounting for 57.5% of total operating revenue.
• D2C Products (beatXP): Sales surged 2.5 times to ₹267 crore, reflecting significant growth in this segment.

Additionally, non-operating income added ₹31 crore, bringing the total income to ₹632 crore for FY24.

Expense Management

Pristyn Care effectively managed its expenses:

• Procurement Costs: Increased to ₹253 crore, driven by the growth in device sales.
• Advertising Expenses: Reduced by 21% to ₹183 crore.
• Employee Benefits: Decreased by 3.5% to ₹192 crore.

Overall expenditure rose to ₹1,014 crore from ₹877 crore in FY23.

Profitability and Future Plans

Despite the revenue growth, Pristyn Care's losses remained steady at ₹381 crore, compared to ₹383 crore in the previous fiscal year.

The company has set ambitious targets for the future, including a projected 35% growth in its surgery business for FY25 and a 60% improvement at the EBITDA level.

Pristyn Care also plans to launch an initial public offering (IPO) within the next three years.

Operational Highlights

Operating in over 30 cities, Pristyn Care manages 100 clinics and collaborates with more than 200 partner hospitals.

In December 2021, the company secured $96 million from Peak XV Partners and Tiger Global, achieving unicorn status.

In June 2022, it acquired Lybrate, a company backed by Ratan Tata and Tiger Global.

Our Opinion on the News

Pristyn Care's consistent revenue growth and effective expense management demonstrate its resilience and adaptability in the competitive healthcare sector.

The significant increase in D2C product sales indicates successful diversification beyond traditional healthcare services.

However, the steady losses suggest that the company needs to continue focusing on improving operational efficiencies and cost management to achieve profitability.

The planned IPO within the next three years presents an opportunity for Pristyn Care to access additional capital, which could further fuel its expansion and innovation efforts.

Potential investors and stakeholders should monitor the company's progress toward its growth and profitability targets, as well as its ability to navigate the challenges inherent in the rapidly evolving healthcare industry.