### **Overview** Jeena Sikho Lifecare Limited (JSLL), incorporated in 2017 and publicly listed on the NSE and BSE, is a leading integrated Ayurvedic healthcare company in India. Founded in 2009 by Acharya Manish Ji, the company operates under the 'Shuddhi Ayurveda' brand, offering affordable, authentic, and holistic healthcare solutions through a dual-vertical business model: **Ayurveda Healthcare Services** and **Ayurveda Healthcare Products**. JSLL has emerged as a significant organized player in the fragmented Ayurvedic sector, combining high-margin product sales with scalable clinical services under a capital-light, asset-efficient framework. --- ### **Business Model & Strategy** #### **1. Dual Revenue Model** JSLL’s business is built on two synergistic verticals: - **Healthcare Services (52% of H1FY26 revenue):** ₹188 crore - **Healthcare Products (48% of H1FY26 revenue):** ₹176 crore > Total H1FY26 revenue: ₹364 crore → Implied annualized run rate: ~₹728 crore, aligning with FY26 guidance of ₹650–720 crore. This integrated model creates **strong cross-selling synergies**: - Product users transition to clinics/hospitals for deeper care. - Clinical patients are prescribed company products for long-term wellness → recurring revenue and enhanced patient lifetime value. #### **2. Capital-Light Expansion** JSLL follows a **hub-and-spoke model** with low CAPEX and OPEX: - **Hub:** Large hospitals (100–300 beds) for inpatient (IPD) treatment. - **Spoke:** Clinics and day-care centers for outpatient (OPD) services and referrals. **Key Operational Metrics:** - Setup cost: Just **₹3.4 lakh per bed** (vs. ₹50 lakh–₹1 crore for allopathic hospitals). - Uses **leased facilities** with custom modifications. - Aims for 8,000–10,000 beds in 3–5 years from ~2,850 currently. - Current operational bed capacity: **1,600 beds** (Q1FY26), with **1,218 in pipeline**. #### **3. Franchise Model** - Operates **117 centers**, 35 of which are franchise-run. - Franchisees bear capital and daily operational costs. - **Doctors at franchisees are on JSLL’s payroll**, ensuring quality control. - Exclusive sale of JSLL’s proprietary products at all centers. --- ### **Product Portfolio & Distribution** #### **Ayurvedic Products Segment** - **330+ SKUs** targeting chronic and lifestyle diseases (liver, BP, diabetes, kidney, infertility, joint pain, depression, etc.). - **Gross margins: ~85%**. - Contract manufacturing across 4 Indian states enables regional customization and logistics efficiency. #### **Distribution Channels** 1. **Healthcare Centers & Clinics** (direct sales, bundled therapy). 2. **Tele-calling & Client Support Centers**. 3. **E-commerce platforms** (own “Jeena Sikho” store + third-party marketplaces). 4. **Over-the-Counter (OTC) Pharmacy Sales** – New strategic focus. #### **OTC Expansion** - Entering general pharmacies via 16 distribution partners. - Launching premium-priced OTC kits (₹960–₹2,400) for BP, diabetes, depression, etc. - Packaging includes clinic details → drives referrals. - Target: ₹500 crore in OTC revenue within 1.5–2 years, at 20% PAT margin. #### **Upcoming Product Launches** - Plant-Based Protein Powder - Gyno Syrup - Joint pain line: oil, ointment, balm, tablets - Dr. BP Care, NutriRoz Herbs, Rakt Shuddhi Syrup - Pet Liver Shuddhi Kit (already launched in May 2025) --- ### **Healthcare Services Vertical** #### **Facility Rollout & Occupancy** - Manages **1,600 operational beds** across **117 centers** in 97 cities, 25 states. - Average occupancy: **53%** overall; **70–90%** at mature units (Dera Bassi, Lucknow, Mumbai). - Target: **60–70% occupancy by FY26**. - 41 **NABH-certified facilities** (6 pending), the highest among AYUSH providers (~10% national share). #### **Hospital Tie-ups & Operations** - Currently operates **three medical college hospital collaborations**: 1. **Mohali (Saraswati Group):** 100-bed hospital, 90% occupancy, operational. 2. **Vrindavan:** Facility ready, hiring underway, new service line to launch. 3. **Buldhana (Aurangabad):** Facility ready, awaiting activation. - Paused further college tie-ups due to regulatory delays (fire, pollution NOCs) and trust structure challenges. - Revenue-sharing model: e.g., 7% revenue share with Aurangabad College, **no rent**, minimal capital outlay. - Future pipeline: Targeting **5–10 additional hospitals** upon inclusion of **Ayurveda in Ayushman Bharat**. - Government business currently at **3% of total operations**, but poised for expansion. #### **New Expansions (2025)** - New hospitals: - **Jammu (45 beds)** – Opened May 2025. - **Raigad, Maharashtra (150 beds)** – Scheduled July 2025. --- ### **Digital Transformation & Partnerships** #### **Salesforce Partnership** - Implemented **Service Cloud & Marketing Cloud** to digitize: - Virtual OPD (VOPD) - Patient engagement & follow-ups - Call center response time - Data segmentation and CRM - Enables AI-driven patient outreach and operational efficiency. #### **Strategic Tie-up with Chandan Healthcare** - **34 Chandan diagnostic clinics** operational inside JSLL centers (from Nov 1, 2025) → boosts footfall. - **4 million Chandan privilege cardholders** can access cash-back benefits at JSLL facilities. - **Free basic tests** (CBC, ESR, lipid, thyroid) under health packages → drives initial engagement. - **NABL-certified labs** → smoother **insurance claims** processing. - **Future diagnostics:** Liver fibroscan, ultrasound, radiodiagnostics being set up. - Revenue share: **Chandan pays commission to JSLL**; patients get medicine discounts instead of cash → drives **product conversion**. --- ### **Financial Performance & Guidance** #### **FY25 Highlights** - **Revenue:** ₹469 crore (+45% YoY) - **Profit:** ₹91 crore - **IPD Patients:** 24,578 (+87% YoY) - **OPD Footfall:** 3.37 lakh - **EBITDA Margin:** Temporarily compressed due to expansion investments; expected to normalize. - **ARPB:** Increased to ₹8,200 from ₹7,900 YoY. #### **FY24 Performance (for context)** - Revenue: ₹324 crore (+59% YoY) - Product Sales: ₹186 crore (57% of revenue) - Services: ₹139 crore (43%) #### **FY26 Guidance** - **Revenue: ₹650–720 crore** - **Profit: ₹125–130 crore** - Growth driven by: - Occupancy improvement - OTC rollout - Chandan partnership traction - Seasonal dip expected in Q3 (Nov–Dec) due to lower patient inflows --- ### **Patient Acquisition & Marketing** #### **Awareness & Outreach** - Dominant digital presence in alternative medicine: - YouTube: **3 channels**, >2.1 million subscribers (@Chikitsaguru, @HIIMSOfficial, @haveshuddhi) - National & regional TV, radio, cinema, print - Client Support Centers: Proactive lead follow-up and conversion - Community **72-hour healthcare camps** used as referral engines: - 18 camps in FY25 → 1,244 attendees - Generate revenue + patient leads #### **Innovation & Patient-Centric Programs** - **“Shuddhi Sankalp”** – Prepaid annual care package (25–30% discount) → ₹1.5 crore already raised. - Shifted from COD to **prepaid e-commerce model**. - Partnered with **Z-money** for patient EMI financing (6% commission to financier). #### **Free Treatments & Word-of-Mouth Marketing** - 10% of patients treated free (economically disadvantaged). - Use patient testimonials as **cost-free promotional content**, reducing ad spend. --- ### **Leadership & Vision** #### **Founding Vision** - **Acharya Manish Ji**, founder, developed **“Golden Therapy”** – a proprietary Ayurvedic treatment for chronic conditions focusing on detoxification, self-reliance, and natural healing. - Emphasis on **lifestyle change, fasting, and diet** over medicine dependency. #### **Key Leadership** - **Ms. Shreya Grover** (Executive Director): Leading OTC expansion, media strategy, hospital scaling.