Revenue and Profitability Trends
Over the seven-year period ending March 2025, Tejnaksh Health.'s net sales demonstrated a downward trend from ₹19.76 crores in 2019 to ₹12.90 crores in 2025. The peak sales were recorded in 2019, followed by a notable decline in subsequent years, with a slight recovery in the latest fiscal year. Total operating income mirrored this pattern, reflecting the company’s core business activity without other operating income contributions, which remained nil throughout.
Despite the decline in sales, the company managed to maintain a relatively stable operating profit margin, which stood at 31.63% in 2025, up from 21.15% in 2019. This improvement indicates enhanced operational efficiency or cost management. Operating profit (PBDIT) excluding other income rose from ₹4.18 crores in 2019 to ₹4.08 crores in 2025, with fluctuations in between. Other income contributed modestly to overall profitability, though it decreased from ₹1.55 crores in 2019 to ₹0.40 crores in 2025.
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Cost Structure and Margins
The company’s total expenditure excluding depreciation decreased significantly from ₹15.58 crores in 2019 to ₹8.82 crores in 2025, reflecting cost rationalisation efforts. Key expense components such as purchase of finished goods and employee costs remained relatively stable, with employee costs reducing from ₹2.93 crores in 2019 to ₹1.53 crores in 2025. Other expenses also declined from ₹11.46 crores to ₹6.00 crores over the same period.
Interest expenses showed a downward trajectory, falling from ₹0.78 crores in 2019 to ₹0.38 crores in 2025, which aligns with the company’s reduced long-term borrowings. Depreciation charges increased moderately, consistent with asset base growth and capital expenditure.
Profitability and Earnings
Profit before tax (PBT) declined from ₹4.36 crores in 2019 to ₹3.19 crores in 2025, while profit after tax (PAT) followed a similar trend, decreasing from ₹3.14 crores to ₹2.23 crores. Consolidated net profit also fell from ₹3.03 crores in 2019 to ₹2.33 crores in 2025. Earnings per share (EPS) reflected this pattern, dropping from ₹2.98 in 2019 to ₹1.15 in 2025, indicating a contraction in profitability on a per-share basis.
Nonetheless, the PAT margin improved from 15.89% in 2019 to 17.29% in 2025, suggesting better profit retention relative to sales despite lower absolute profits.
Balance Sheet and Financial Position
Tejnaksh Health.'s shareholder funds increased steadily from ₹15.25 crores in 2020 to ₹25.91 crores in 2025, supported by rising reserves which grew from ₹3.00 crores in 2019 to ₹15.75 crores in 2025. This indicates consistent internal accruals and strengthening equity base.
Long-term borrowings saw a marked reduction from ₹6.59 crores in 2020 to ₹0.63 crores in 2025, reflecting deleveraging efforts. Total liabilities remained relatively stable around ₹30 crores in recent years. The company’s net block of fixed assets increased from ₹15.04 crores in 2021 to ₹21.16 crores in 2025, signalling ongoing investment in property, plant, and equipment.
Cash Flow Overview
Operating cash flows have been inconsistent, with a peak of ₹9.00 crores in 2022 but zero reported in 2025. Investing activities fluctuated, with significant outflows in 2022 and inflows in 2025. Financing cash flows were negative in recent years, indicating repayments or reduced borrowings. The company maintained a stable cash and bank balance around ₹1.00 crore in 2025, consistent with prior years.
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Summary and Outlook
In summary, Tejnaksh Health. has experienced a decline in top-line revenue since 2019 but has managed to improve its operating and PAT margins, reflecting better cost control and operational efficiency. The company’s efforts to reduce debt and strengthen equity have improved its financial stability. However, earnings per share have contracted, and cash flow from operations has been volatile, which may warrant cautious monitoring by investors.
Overall, the historical performance suggests a company in transition, balancing revenue challenges with improved profitability and financial health. Investors should weigh these factors alongside sector dynamics and peer performance when considering Tejnaksh Health. for their portfolios.
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