Pharmaceutical startup Generic Aadhaar posted a 29% growth in scale to touch Rs 11.4 crore in FY23 as compared to the preceding fiscal’s Rs 8.8 crore.
Its revenue from operations spiked 25% to Rs 10 crore in FY23. Previously in FY22, it had generated over Rs 8 crore through operations.
Founded by Arjun Deshpande, Generic Aadhaar operates a medical franchise chain in India and offers affordable generic medicines to customers.
It also provides medicine store franchises including software for billing and inventory management.
The Thane-based firm has raked in an overall funding of over Rs 15 crore through 2 rounds. It last raised a Seed round of Rs 15.2 crore led by Beyond Next Ventures in 2022.
Post the round, founder Arjun Deshpande held over 65% of the company’s shares while Aarti Deshpande owned over 16%. Beyond Next Ventures is also a significant stakeholder in the six year old company.
A year prior the firm raised its Angel round from Ratan Tata.
The healthcare firm’s expenses for the fiscal year ending March 2023 grew 33% to Rs 11.2 crore. While over Rs 2 crore was spent on employee benefits, Generic Aadhaar spent close to Rs 68 lakhs on promotional costs. Its transportational costs totaled to Rs 47 lakhs the same year.
Previously in FY22, its expenditure amounted to Rs 8 crore.
As for pprofits, the overall number dwindled to Rs 10.7 lakhs as of FY23. This was a whopping 66% drop from the preceding fiscal’s Rs 32 lakhs of losses. Its EBITDA margin and ROCE stand at 1.91% and 0.92% respectively.