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The Wire
5 days ago
- Business
- The Wire
Nishant Singhal has been appointed as the CEO of Healthians
New Delhi, 24th July 2025: 'We have demonstrated that right unit economics at scale and tech driven integrated business processes can deliver profitability for Digital First Healthcare service providers. Our business prospects and processes are fully aligned to deliver positive EBITDA not only in FY 26 but also in years to come with Revenue growth higher than industry average. Healthians has significant pricing leverage which will help in driving growth besides volumes', said Nishant Singhal, Board Member & CEO at Healthians. Outside of Healthians, Nishant continues to be a prominent voice in India's startup ecosystem. He is known for mentoring and backing purpose-driven entrepreneurial ventures across industry verticals. Nishant Singhal has embarked on an exciting new chapter in his professional journey, stepping into the role of Chief Executive Officer at Healthians, India's leading 'At Home' diagnostics and health-tech platform. This move reflects a natural progression in Nishant's long-standing association with Healthians. Nishant came in as a seed investor in Healthians on behalf of Yuvraj Singh's start up fund. He has been an active Member of the Board of Directors since 2017. He also took up the role of Chief Operating Officer for over 3 years till mid of 2023. Healthians scaled up on all fronts during this period including 18X revenue and volume growth, setting up of over 22 labs and expansion to 300 cities. Healthians also raised over USD 100 mn during this period from prestigious investors like Westbridge Capital, Beenext and Evolvence Fund. His deep operational understanding and strategic leadership have helped shape the company's expansion and innovation-driven culture. 'It's always exciting to lead what you built over last few years. We are on a transformative journey to build scale and profitability i.e. Healthians 3.0. We will be delivering our best business performance in FY 26,' said Nishant Singhal. Nishant has been actively involved in leading the business since February 2025 and the impact is immediately visible. Healthians has recently announced that it has turned EBITDA and Cash positive in the Quarter ending June 2025. A first in Health Tech space and a much-awaited development. This comes as a 'Diagnostics at Home' category defining moment and that too from a Digital Native healthcare service provider like Healthians. The capability of Digital First players to deliver cash EBITDA has been a point of debate for over a decade now. It has been widely believed that most of the players will run out of cash and will eventually either significantly scale down or shut business. 'Healthians, a Digital First healthcare service provider, has always been at the forefront of driving best in class processes in Diagnostics at Home as a category. We have provided best in class diagnostic services to homes of over 1 million customers in the quarter ended June 2025, backed by our CAP Accredited and NABL accredited labs. We continue to lead the consumer and corporate wellness space with tech driven consumer-oriented services', said Nishant Singhal, Board Member & CEO at Healthians. Healthians has reported that the company is growing faster than all industry players on a YOY and Sequential basis. Healthians is also projecting FY 26 to be a fully EBITDA profitable year. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR
Mint
28-05-2025
- Business
- Mint
Dry fruit brand Bolas in talks with Westbridge, others for ₹900 crore investment boost
MUMBAI : Dry fruit brand Bolas is in early discussions with private equity investors including Westbridge Capital to raise ₹800–900 crore in its first institutional funding round, two people familiar with the development told Mint. 'The investors are looking to secure a significant minority stake in the company and the round will be a mix of primary and secondary transactions," one of the people cited said. The promoters are expected to dilute a portion of their holdings, but valuation discussions are still underway. According to the second person, the capital raised will primarily go towards expanding Bolas' retail footprint in Karnataka from 80 stores currently to 150–200 outlets. 'At this stage, we would prefer not to comment on specific investor conversations or the details of any ongoing discussions," Bolas' co-founder Rahul Kamath told Mint in an emailed statement. He added that the company has witnessed unprecedented growth over the past few years, by significant expansion of its presence across three key pillars— healthy snacking category, direct-to-consumer retail division, and overall share in the Indian dry fruits market. 'As we look ahead, we are exploring strategic opportunities for our next phase of growth and have set ambitious targets for FY30 to establish Bolas as India's leading dry fruits-based healthy snacking brand," Kamath said. Westbridge Capital did not immediately respond to Mint's queries. Founded in the early 1940s, Bolas is currently run by a third-generation sibling duo Rahul Kamath and Rajesh Kamath. Based in coastal Karnataka, the firm is also present in Goa and Maharashtra and is engaged in commodity trading, processing and branding. It is among India's leading exporters of cashewnuts and coffee, and expanded into direct-to-consumer retail by acquiring Mysore Mercantile Ltd. Its edible oil brands include Palm Raja, Leader Gold, Prajwal, and Sun Taaza. The company also imports and processes almonds, pistachios, figs, dates, and other dried fruits. In 2022, Bolas also ventured into newer categories and launched a range of products such as seeds, berries, gourmet snacking options, honey and hazelnut to cater to the growing consumer demand driven by rising health awareness, increased disposable incomes, and a preference for convenient, nutritious snacks. It also forayed into manufacturing sweets such as Kaju Katli, Mysore Pak, and Ladoos. Also read: VC fundraising wave gains momentum as dealmaking rebounds, but caution prevails Sector trends Broadly, the dry fruits space has been bustling with action as consumers increasingly seek healthy snacking options to satiate their dietary needs for post-workout nourishment and other small meal replacements. Brands like Farmley, Happilo, True Elements, Yogabar, and The Whole Truth Foods have been the biggest beneficiaries of this shift by offering consistent quality through organised sales channels with better hygiene standards. While Farmley raised a $40 million round led by L Catterton earlier this month, The Whole Truth raised $15 million led by Sofina Ventures, with participation from existing investors Peak XV (formerly Sequoia India), Z47, and in February. Broadly, India is projected to grow from $9.3 billion in 2024 to $12.7 billion by 2029, with a CAGR of 6.55%. Currently ranked the world's largest importer, India imported dry fruits worth $2.85 billion in 2023, according to a report by Indus Food. The report added that there are significant opportunities, particularly in the cashew segment. Also read: For the health nut who can't give up snacking—oats bujia and quinoa puffs Bolas' performance In FY24, Bolas reported operating income of ₹1,696.8 crore, up from ₹1,574 crore in FY23. However, profits declined to ₹27 crore from ₹47 crore the previous year, as per an ICRA report. The dip in margins was attributed to a higher share of low-margin palm oil sales and increased promotional spending. Bolas closed FY25 with ₹2,000 crore in revenues, driven by stable demand across segments and better realisations in the cashew business. ICRA noted that while Bolas benefits from experienced promoters, a diverse product mix, and robust supply chains, it remains exposed to risks such as commodity price swings, regulatory issues, and forex volatility.
