&w=3840&q=100)
SastaSundar to invest Rs 150 crore in 2 yrs, aims turnaround in FY26
SastaSundar Ventures Ltd is in the process of investing Rs 150 crore over the next two years to strengthen its digital healthcare platform and warehousing infrastructure to make a turnaround and return to profit in FY'26, a company official said on Thursday.
The investment will largely be funded through a Rs 145-crore capital pool, created from the Flipkart Health exit settlement and internal treasury income.
The Kolkata-based online pharmacy ended its partnership with Flipkart Health earlier this year and relaunched its B2C platform under its own brand.
"We are aiming to return to net profit in the current fiscal through strategic initiatives. We are focusing on the execution of these and capital-efficient growth to recover the company from a Rs 122 crore net loss in FY'25.
"Out of the Rs 150 crore, about Rs 40 crore was deployed in FY'25, and the remaining Rs 110 crore will be invested in FY'26 and FY'27," SastaSundar Chairman B L Mittal told PTI.
To tap into the rising demand for affordable medication, SastaSundar has launched JITO, a curated generics medicine channel under its main brand.
"We expect to invest nearly Rs 25 crore to develop the JITO platform to push retail sales," Mittal said.
The concept of quality-verified generic substitutes is gaining popularity, offering customers significant discounts compared to branded prescription drugs.
With a Rs 50-crore investment planned in technology and AI-driven healthcare tools, the company is targeting to double its B2C business in FY'26, from Rs 144 crore achieved in FY'25.
A major portion of this investment will go towards hiring tech and AI talent to build digital consultation, diagnostics, and personal health profiling tools, Mittal recently informed investors in a conference call.
On the distribution side, 250 Health Buddies are currently active post the Flipkart exit, and the company expects this number to rise to around 400 by the end of FY'26, he said.
On the B2B front, RetailerShakti, which supplies to pharmacies, delivered a strong performance with revenue nearly doubling to Rs 941 crore in FY'25, he said.
The company is targeting EBITDA breakeven for RetailerShakti in the last quarter of FY'26.
By FY'30, SastaSundar aims to achieve a blended EBITDA margin of 4-5 per cent.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
DHFL case: Expeditiously decide Kapil Wadhawan bail plea, SC tells Delhi HC
The Supreme Court on Friday asked the Delhi High Court to decide within two weeks the bail plea of Dewan Housing Finance Ltd's former promoter Kapil Wadhawan in the multi-crore bank fraud case investigated by the CBI. A bench of Justices Ujjal Bhuyan and Manmohan said Wadhawan was in custody since July, 2022 and his bail plea was coming up for hearing on July 18 in the high court. The bench asked the high court to decide the bail plea within two weeks from the date of hearing. Wadhawan moved the top court aggrieved by the orders of adjournment in his bail plea by the high court and sought an expeditious disposal of his petition. Senior advocate Siddharth Luthra, appearing for Kapil Wadhawan, referred to his client's long custody period aside from the non-adjudication on his bail plea on multiple occasions. The Wadhawan brothers -- Kapil and Dheeraj -- were arrested in this case on July 19, 2022. Dheeraj was granted interim bail by the high court on September 9, last year on medical grounds. The chargesheet was filed by the CBI on October 15, 2022 and cognisance was taken by the trial court. The FIR in the case was based on a complaint made by the Union Bank of India. The CBI alleged that Dewan Housing Finance Ltd (DHFL), its then CMD Kapil, then director Dheeraj and other accused persons conspired to cheat the consortium of 17 banks led by the Union Bank of India. The accused and others induced the consortium to sanction huge loans aggregating Rs 42,871.42 crore. Much of the amount was allegedly siphoned off and misappropriated by alleged falsification of the books of the DHFL and dishonest default in repayment of the legitimate dues of the consortium banks, the CBI claimed. The complainant alleged that a wrongful loss of Rs 34,615 crore was caused to the consortium banks in as much as such was the quantification of the outstanding dues as on July 31, 2020.
&w=3840&q=100)
Business Standard
20 minutes ago
- Business Standard
Reliance Jio partners with Krafton, offers BGMI rewards with recharge plans
Jio has introduced India's first gaming recharge plans in partnership with Krafton. Its Rs 495 and Rs 545 plans now comes with BGMI rewards, JioGames Cloud access, and daily data benefits for gamers Sweta Kumari New Delhi Telecom operator Reliance Jio has partnered with Krafton India, the developer behind Battlegrounds Mobile India (BGMI), to introduce India's first gaming recharge plans. These plans are specifically designed for BGMI players and offer a mix of in-game rewards, cloud gaming access, and mobile data benefits. Jio's gaming recharge plans: Price and benefits Two new plans are available: Rs 495 plan: Offers 1.5GB data per day, an additional 5GB data, and unlimited voice calling for 28 days. Includes a JioGames Cloud subscription. Rs 545 plan: Provides 2GB data per day, 5GB additional data, and unlimited calling for 28 days. Also includes cloud gaming access. In-game rewards for BGMI players Users recharging with these plans will receive exclusive BGMI items, including: Bard's Journey Set Desert Taskforce Mask Tap Boom Molotov Cocktail These rewards are aimed at enhancing in-game experiences and engagement for BGMI players. How to redeem BGMI in-game rewards Recharge with a Jio gaming pack Receive confirmation SMS Find your BGMI reward codes in the MyJio app Visit the official BGMI redeem page Enter your character ID and the reward code A message will confirm: 'Code has been redeemed' JioGames Cloud access Subscribers can access over 500 games via JioGames Cloud on: How to access the cloud gaming service Install and open the JioGames app Log in using the recharged Jio number Start playing instantly through the cloud This partnership reflects an effort to support India's growing mobile gaming community, according to Siddharth Merrotra, head of business development at Krafton India.
&w=3840&q=100)
Business Standard
20 minutes ago
- Business Standard
Tata AIA launches 2 new funds for wealth creation, insurance cover
Tata AIA Life Insurance has launched two new equity-linked funds (ULIP) under its unit-linked insurance plans (ULIPs). Top 200 Alpha 30 Index Fund and Top 200 Alpha 30 Index Pension Fund will be available from June 23 to June 30, 2025, at an issue price of Rs 10 per unit. Both funds are meant for wealth creation and retirement planning while offering life insurance protection under various Tata AIA insurance products, said the company. 1. Top 200 Alpha 30 Index Fund It is meant for individuals looking to create wealth while providing insurance cover to their families. The fund is benchmarked to the Nifty 200 Alpha 30 Index, which includes 30 high-performing stocks known to generate excess returns (alpha) over the market. 2. Top 200 Alpha 30 Index Pension Fund It will build a robust retirement corpus and is available through Tata AIA's Smart Pension Secure Plan. Both funds have the following asset allocation: 80 per cent to 100 per cent in equity and equity-related instruments Zero per cent to 20 per cent in cash and money market securities Features for investors Access to Alpha Stocks: Focus on companies with a strong track record of outperforming the market. Life insurance: Investors get insurance cover along with market-linked returns. Long-term wealth Focus: Ideal for financial goals that span several years, like retirement. Strategic diversification: Exposure to multiple sectors with a data-driven stock selection process. 'The new funds are positioned to capitalise on India's strong economic fundamentals and rising consumption,' said Harshad Patil, Chief Investment Officer, Tata AIA Life Insurance. 'We are combining life cover with high-growth equity exposure, giving customers both financial protection and investment growth.' Tata AIA funds' performance Top 200 Fund: 32.3 per cent CAGR in five years Multi-Cap Fund: 31.4 per cent India Consumption Fund: 30.4 per cent Notably, 99.93 per cent of Tata AIA's fund assets under management are rated 4 or 5 stars by Morningstar, much higher than the industry average of less than 30 per cent. How to invest? Investors can access these funds through select Tata AIA life insurance products such as: Param Raksha Life Growth+ / Pro / Maxima+ Pro Fit Shubh Muhurat Shubh Fortune
