Amrutanjan Health Care Limited stands as one of India's oldest healthcare companies, manufacturing ayurvedic balm for pain management since 1893. Currently managed by the third-generation of promoters, the company was founded by "Desodharaka" Sri Nageswara Rao in 1893 in Bombay (now Mumbai). He introduced Amrutanjan in the market in 1908, quickly gaining popularity. The headquarters were shifted to Madras (now Chennai) in 1914, and in 1936, Amrutanjan became a public limited Company under the name Amrutanjan Limited.
The company was formerly known as Amrutanjan Limited and changed its name to Amrutanjan Health Care Limited in 2007. Based in Chennai, India, Amrutanjan Health Care Limited is more than 120 years old and is into OTC products across segments such as pain management, women's hygiene, and packaged fruit juice drinks.
Amrutanjan Health Care Ltd manufactures Ayurvedic and allopathic products, operating through the following segments: OTC Products, Beverages, and Others. The majority of the revenue is generated from its OTC segment, which is engaged in manufacturing products for pain management, congestion management, and hygiene.
The company provides pain management products including pain balms and roll-ons, back pain roll-ons, stick-on patches, body pain gels, and joint muscle sprays. Its congestion management products consist of cold rubs, cough syrups, nasal inhalers, and swas mints. Amrutanjan also offers sanitary napkins for women, corn caps, dental gel, and hand sanitizers. Additionally, the company offers juice drinks under the Fruitnik and Fruitnik Electro+ brand names and operates a pain management center.
Amrutanjan's major revenue is driven by the pain management segment, with other segments contributing less than 25% to sales. The Company's Beverage segment (fruit juices and oral rehydration drinks) is currently operating at a loss. In May 2011, Amrutanjan diversified into foods by acquiring Siva's Soft Drink Pvt Ltd, a Chennai-based company selling fruit juices under the Fruitnik brand, for approximately ₹260 Million.
Amrutanjan has maintained the No. 1 rank in Modern Trade in the Head Category with a volume market share of 41.1% in CY19. The Amrutanjan brand is currently available in 1.06 million outlets (with a direct distribution reach of 0.25 million outlets), 11,100 Modern Trade (MT) stores, and on various E-commerce platforms like Amazon, Pharmeasy, Sasta Sundar, Medlife, Big Basket, Reliance JioMart, Dmart E-Com, Medplus E-Com, and Netmeds.
The company exports its products to the Middle East, Africa, Southeast Asia, and internationally. Amrutanjan currently has a presence in Indian, Gulf, African, and South-East Asian markets. The Company is also registered with USFDA and is actively looking to enter the US market.
Amrutanjan Health Care Ltd has a market capitalization of Rs 2,013 crore. The company's 52-week high share price is Rs 861.40 and its 52-week low share price is Rs 548.05. Promoter holding in Amrutanjan Health Care Ltd has decreased to 46.52% as of March 2025, from 50.59% as of June 2024.
Amrutanjan Health Care Ltd's revenue jumped 5.26% year-over-year to ₹127.11 Cr in Q3 FY2024-2025. On a quarterly growth basis, the company generated an 11.54% jump in its revenue compared to the previous quarter. Net profit for Q3 FY2024-2025 increased by 10.32% year-over-year to ₹19.25 Cr, showing a 63.14% jump on a quarterly growth basis.
The net profit margin for Q3 FY2024-2025 jumped 4.8% year-over-year to 15.14%, reflecting a 46.26% jump on a quarterly growth basis.
• Revenue Q3 FY25: ₹127.11 crores
• Net Profit Q3 FY25: ₹19.25 crores
• Net Profit Margin Q3 FY25: 15.14%
• Annual Revenue FY24: ₹452 crores
• Annual Net Profit FY24: ₹50.8 crores
• Market Capitalization: ₹2,013 crore (as of 2025)
• Promoter Holding: 46.52% (Suzuki Motor Corporation)
The company introduced Amrutanjan Comfy Sung Fit Regular Cottony in FY22. A new product, 'Amrutanjan Stop Pain Dental Gel', was launched for Oral Health Care in 2023. In FY 2024, it launched Pain cream and Electro Plus Lemon and Low-sugar variants.
The Company is aggressively launching new products, with 30% of the revenue contributed by new products in FY20. In FY21, the Company planned to launch 6 new products.
Amrutanjan Health Care Ltd is almost debt-free. The company has been maintaining a healthy dividend payout of 29.8%. Its working capital requirements have reduced from 130 days to 99.6 days. The Company maintains a healthy financial position with no debt, high liquidity, and substantial reserves, providing resources to invest in future growth either organically or inorganically without excessive financial leverage.
Amrutanjan Health Care Ltd, incorporated in 1936, has its registered office at New 103 Old 42-45 Luz Church Rd, Mylapore, Chennai, Tamil Nadu, 600004. The main industry in which Amrutanjan Health Care Ltd operates is Pharmaceuticals - Indian - Formulations. S Sambhu Prasad serves as both the chairman and managing director of the company.
The company has delivered a relatively modest sales growth of 11.6% over the past five years. So far, the Company has not been fully successful in diversifying its business to other segments and reducing its dependency on pain management products.
However, Amrutanjan has shown resilience and adaptability. The Company benefited from a shift in consumer behavior towards Ayurvedic, health care, and immunity products. Amrutanjan has a strong brand recall in the pain management segment due to its long history of manufacturing ayurvedic balm and an established distribution network. The Company is leveraging this distribution network to diversify into new products and geographies.
With its strong financial position, established brand presence, and ongoing product diversification efforts, Amrutanjan Health Care Limited continues to be a significant player in the Indian healthcare and FMCG space. Investors should note the company's dependency on the pain management segment and relatively modest growth rates in recent years, balanced against its strong brand equity and debt-free status.
