HealthKart FY26 revenue Rs 2,052 crore, up 56.2%
HealthKart's FY26 revenue from operations was Rs 2,052 crore against Rs 1,313 crore a year earlier. Procurement cost grew faster than revenue while advertising grew slower, so the squeeze sat on the gross side.
- Compare your own procurement cost growth against revenue growth, because HealthKart's input cost rose 71.9 per cent while revenue rose 56.2 per cent.
- Use 19.6 per cent of revenue as a reference point for what a scaled Indian nutrition brand spends on advertising, and test your own ratio against it.
- Do not quote the Rs 124 crore as a net profit, because it is profit before tax excluding exceptional items and neither profit after tax nor EBITDA is disclosed.
- Recheck derived percentages before repeating them, since Rs 2,033 crore against Rs 1,279 crore of product sales works out to just under 59 per cent rather than the 59.2 per cent reported.
Entrackr reported on 28 October that HealthKart’s consolidated FY26 annual statements, sourced from the Registrar of Companies, show revenue from operations of Rs 2,052 crore against Rs 1,313 crore in FY25. Entrackr puts that at 56.2 per cent growth.
Product sales were Rs 2,033 crore against Rs 1,279 crore, which is just over 99 per cent of operating revenue. Entrackr calls that 59.2 per cent growth. On the two rupee figures it published, the increase is just under 59 per cent, so the stated percentage is a little high. The rupee numbers are the ones to carry.
Other income added Rs 54 crore, taking total income to Rs 2,106 crore from Rs 1,368 crore. Profit before tax excluding exceptional items was Rs 124 crore against Rs 95 crore, which Entrackr puts at 30 per cent growth. The primary lines reconcile cleanly. Total income minus total expenses lands exactly on the reported profit in both years. Profit after tax and EBITDA are not disclosed in the report, so there is no net figure to quote.
The cost side is where an operator should look. Procurement cost rose 71.9 per cent to Rs 1,071 crore from Rs 623 crore, faster than revenue grew. Advertising and marketing rose 53.2 per cent to Rs 403 crore, slower than revenue grew. Total expenses rose 55.7 per cent to Rs 1,982 crore from Rs 1,273 crore.
Set the advertising line against revenue and it is 19.6 per cent, on our own arithmetic over the reported figures. Because marketing grew slower than revenue, that share is lower than it was in FY25, though Entrackr gives no FY25 rupee figure for the line. So media got relatively cheaper for this business while the cost of goods got relatively dearer. Profit still improved. The pressure moved onto the gross margin rather than onto marketing.
HealthKart has raised around $382 million to date. Peak XV Partners, Temasek and Sofina are among its named investors.
Zane’s analysis draws on original reporting by Entrackr. Read the original report.