KRM Ayurveda is an integrated Ayurvedic healthcare company that treats patients, makes its own medicines, and reaches customers through a digital platform - all under one roof. Founded in 2019 as a kidney-care specialist, it has grown into a multi-specialty chain of seven hospitals and eight clinics across seven states, built on the principle that a patient cured is a patient who returns and refers others. The recurring approach is a hub-and-spoke model where clinics feed patients into hospitals, new locations open only where telemedicine data already shows demand, and every part of the system - from doctor consultations to medicine production - is standardised so the business never depends on a single practitioner. # Business segments A single integrated engine - hospitals and clinics that treat patients, a factory that makes the medicines they take home, and a digital funnel that feeds both - each part designed to cross-sell the other. ## 1. Care delivery: where patients come in and trust is built **Hospitals and clinics are the front door - they earn the larger share of revenue at higher margins, and every bed filled is a patient who also buys the company's products.** - **Beds are filling fast** - across 246 beds in seven hospitals, overall occupancy is 69%, but older hospitals run above 90% while newer ones are still ramping at 35-40%, so the mature-unit economics are already visible. - **Revenue per bed, not per procedure** - the company earns roughly ₹8,400 per occupied bed per day on average, a metric that captures the full inpatient stay including therapies, medicines, and consultations. - **Clinics are the low-cost feeder network** - eight specialty clinics, including four added post-IPO in Dwarka, Janakpuri, and Navi Mumbai, have been converted into day-care centres with NABH accreditation, so they can treat, admit, and dispense medicines without the cost of a full hospital. - **The medical team is the product** - 40-plus BAMS-qualified Ayurvedic physicians and 71-plus certified therapists deliver Panchakarma, kidney care, arthritis treatment, and women's health services, with about 15 MDs among them, including five in Dravyaguna and Rasashastra who design new formulations. - **Patients come through three doors** - digital content and advertisements, word-of-mouth referrals, and corporate or government insurance panels including Hero Motors, Maruti, Honda, and the Ministry of Defence, which ran a pilot with the company as the sole Ayurvedic provider for three years. ## 2. Product manufacturing: the medicines patients take home **In-house production of 80 classical and proprietary Ayurvedic formulations captures the other half of revenue and ensures the company controls efficacy from raw material to patient.** - **Made, not bought** - all products are manufactured at the company's own GMP-certified and ISO-certified plant in Kundli, Haryana, because management believes third-party sourcing would compromise the results patients see in the hospitals. - **A shelf of 300 approved SKUs** - the company has regulatory clearance for 300 stock-keeping units across capsules, tablets, syrups, and oils, with 80 products already launched and more rolling out in different packaging formats. - **Sold where patients already are** - product sales flow through two channels: the telemedicine centres and the company's own clinics and hospitals, so a kidney patient discharged from the Delhi hospital continues buying Karma Nephro Plus Ark through the same system. - **Wellness is the next shelf** - 15 food-supplement products with FSSAI approvals are ready for launch, manufactured in the same plants, extending the brand beyond prescription Ayurveda into daily health. ## 3. Digital and telemedicine: the funnel that feeds everything else **A planned 500-seat telemedicine centre and a subscriber base of roughly 800,000 across digital platforms act as the central nervous system - patients enter through it, buy through it, and tell the company where to open next.** - **The backend that runs the front end** - the telemedicine centre handles new patient acquisition and follow-up consultations, and whether a patient ends up at a clinic, a hospital, or buying products directly, the journey starts and continues through this system. - **Data decides where to build** - new clinics and hospitals are opened only in cities where call-centre and telemedicine data already show a concentrated patient base, which management says makes new units breakeven from day one. - **Content builds the pipeline** - three YouTube channels with over 800,000 combined followers and thousands of videos on kidney treatment and patient reviews create a steady stream of inbound patients who already trust the brand before they call. - **Cross-selling is built in** - a patient who comes for a consultation can be converted to an in-patient stay, and a discharged patient becomes a long-term product buyer, with advertisement spend of 13-14% directed mainly at products rather than services.