### **Overview** TTK Healthcare Limited is a leading Indian healthcare and consumer goods company, part of the century-old TTK Group established in 1928. The company has built a strong reputation across diverse sectors including medical devices, sexual wellness, consumer products (FMCG/OTC), animal welfare, and food products. With over 67 years of operations in India and a pan-India distribution footprint, TTK Healthcare integrates innovation, quality manufacturing, and strategic brand expansion to drive long-term growth. Key brands include **Skore**, **MsChief**, **Eva**, **Woodward’s Gripe Water**, and **Good Home**, with expanding digital platforms like **LoveDepot.com** reinforcing its leadership in India’s evolving sexual wellness market. --- ### **Strategic Highlights (2025–26)** #### **1. Consumer Products & Digital Expansion** - **Aroma Portfolio Growth**: Plans to launch premium and differentiated offerings in the Aroma air freshener and odor remover segment. - **Clean Home Range**: Phase II rollout planned, building on the success of brooms and floor wipes; earlier entries received positive market response. - **New Product Categories**: Expansion into **camphor**, **clear gel**, **cleaning tools**, and **cleaning agents** to deepen household presence. - **E-Commerce & Modern Trade Focus**: Accelerating presence on e-commerce platforms (including Q-Com), modern trade, and D2C channels through improved listings and performance marketing. #### **2. Digital-First Platform: LoveDepot / MsChief** - **LoveDepot.com**, the digital-native platform for sexual wellness and pleasure products, emerged as a top-three e-commerce destination for Skore and MsChief by off-take value. - Achieved **doubling of order volumes** and maintained **strong double-digit customer retention**. - Evolved from a broad catalog to a **curated, trusted experience**, leveraging **first-party customer data** for personalization and competitive advantage. - **Integrated campaigns** across Skore, MsChief, and LoveDepot enable seamless consumer journeys. - **Marketing technology stack** supports: - Abandoned cart recovery - Social proof initiatives - Influencer collaborations - Repeat purchase automation - Positioned as a **thought leader** in the sexual wellness space via PR and content-led engagement. #### **3. Brand-Level Strategies** ##### **EVA Deodorants** - Achieved ~5% growth in FY25, driven by the successful "Special Happens" campaign featuring celebrity **Rashmika Mandanna**. - Launched **No Gas Perfume Spray** and **EVA Roll On**, with the latter winning the **Nielsen Breakthrough Innovation Award**. - **2025–26 Strategy**: - Increase brand affinity and market share via promotions - Expand presence in roll-on and no-gas deodorant categories - Refresh packaging and fragrances in core product lines ##### **Woodward’s Gripe Water (WGW)** - Faced volume declines in southern India in 2024–25. - Revival strategy includes: - “**I am a Woodward's Baby**” TV campaign (2025–26) - Modernized logo and packaging - Medical influencer partnerships to reinforce safety and trust - Brand extension into **digestive care products** to establish Woodward’s as a "**Tummy Care Expert**" #### **4. Medical Devices Division** ##### **Heart Valve Division** - Revenue: ₹29.23 crores (FY25), ~2% growth; constrained by supply issues in **CardiaMed Bi-Leaflet Valves** (imported from Russia), impacted by the Russia-Ukraine conflict. - TTK Chitra Heart Valves achieved **12% volume growth**. - Supply constraints expected to ease with **direct import negotiations** with the Russian manufacturer. - **Future Pipeline**: - **TC-2 Titanium Heart Valve**: Single-centric trial completed; awaiting **BIPP (Biotechnology Industry Partnership Programme)** funding approval for multi-centric pivotal trial (planned for 2025–26) involving 400 patients. - Strategy focuses on increasing volumes of Chitra and Bi-Leaflet valves and advancing clinical development. ##### **Orthopedic Implants** - **CITIUS Fixed Bearing Knee Implant**: Soft launch scheduled for Q1 FY2025–26. - **Buechel Pappas Knee System** to feature **TiN-coated CoCr implants** for enhanced durability and broader market appeal. - **Hip Replacement Portfolio**: - Expansion of **ceramic head options** - Development of **Partially-Coated Hip Stem** and **Revision Hip System** - Focus on **geographic expansion**, **distribution network strengthening**, and **production automation** to improve efficiency. ##### **PTCA Catheters** - Faced **low market acceptance** due to intense domestic and global competition. - Commercial viability under review; strategic continuation uncertain. #### **5. Protective Devices Business** - Revenue: ₹206.63 crores (including Skore), 4% growth. - Achieved ~9% growth in standalone performance; maintains **WHO-UNFPA pre-qualified supplier status** for Male Latex Condoms—key for international tender participation. - Adherence to **BSI, CE Mark, SABS**, and other global standards continues to attract new customers. - **Negative Impact**: USAID issued a **Stop Work Order** and canceled purchase orders, which will affect **business volume and profitability** in FY2025–26. - **2025–26 Strategy**: - Expand customer base and enter new export markets through established contractors - Launch innovative condoms and lubes (under Skore/MsChief) - Automate processes to enhance efficiency and reduce costs - Continue scaling third-party **contract manufacturing** operations #### **6. Animal Welfare Division (AWD)** - Recorded ~9% overall growth; **Aquanim** (aquaculture) and **Gallus** (poultry) led with 26% and 17% growth respectively. - **Bovianim** (livestock): Moderate growth; **Companim** (pets): Flat due to competition and attrition. - Structural changes: - **Companim made a separate vertical** with National Sales Head and expanded field force. - **2025–26 Strategy**: - Promote flagship brands (**Orcal-P, Tefroli, Ossomin, Nutricell**) through farm-based outreach - Launch in **pet treats** segment - Expand e-commerce presence - Drive uptake of new product launches #### **7. Foods Division** - Moderate growth despite challenges from input cost inflation (e.g., wheat, edible oil). - Innovation in **low-oil, healthy snacks** via **micro-pellet popping technologies** (hot air, mechanical). - **Jaipur facility enhancements** (2D die-cut, HTE 210 cooker) improved capacity and versatility. - Focus on increasing institutional and export sales. #### **8. Export & Government Initiatives** - Participation in **global health programs** via WHO-UNFPA and prior contracts with international aid agencies. - **"Make in India"** and **"Atmanirbhar Bharat"** initiatives provide tailwinds for domestic medical device manufacturing and export potential. - **Ayushman Bharat scheme** expected to boost demand for affordable orthopedic and cardiac implants. --- ### **Corporate & Governance Insights** - **Ownership & Leadership**: - Part of T T Krishnamachari & Co. (TTK & Co.), a partnership firm founded in 1928 and still family-managed. - **Mr. T T Jagannathan** (75), key promoter, holds **5.37% equity stake** in TTK Healthcare (as of July 2023); net worth: **₹531.35 crores** (as of Jan 2023). - **Inter-Company Agreements**: - Pays **0.5% of sales** to TTK & Co. for use of the 'ttk' brand monogram. - Pays **3% service fee** on sales for clearing & forwarding services. - Leases office space from TTK & Co. and earns lease income from **TTK Prestige Limited**. --- ### **Financial Highlights (FY2023 – Latest Available)** | Segment | Revenue (₹ Crores) | Notes | |--------|---------------------|-------| | **Consumer Products** | 2,404.56 | Largest segment; includes Skore, Eva, Good Home | | **Protective Devices** | 1,385.49 | Includes condoms for domestic & export markets | | **Animal Welfare** | 1,038.46 | Strong growth in Aquanim & Gallus | | **Medical Devices** | 711.67 | Includes heart valves, orthopedic implants | > *Note: All revenue is domestically sourced (as of June 2023).*