Ayurveda has been in Indian culture for centuries now. Rituals and routines that are said to have ayurvedic backing have been passed down generations in Indian households. Its usage has lessened in recent years and its importance has been sidetracked due to the strict rules and extensive procedures that follow it.
Delving into the field of Ayurveda, Ashok and Chandrakanta Gupta started the manufacturing company Amrutam Pharmaceuticals in 2006. After a period of setbacks and shortcomings in the company, the pair’s children Agnim Gupta and Stuti Ashok Gupta took over the company and decided to take the digital leap. In 2019 the previously B2B company changed tracks to establish itself as a D2C brand under the company name Onashi Nature Private Limited in Gwalior.
Aiming to build a global community that follows a lifestyle derived from Vedic knowledge to suit the modern lifestyle, Amrutam offers traditional ayurvedic recipes simplified into over 100 products that fit into the busy modern lifestyle. Products targeting various problems from hair and skin care to health care can be found in the form of oils, malts, powders, syrups etc.
Giving importance to the ingredients used in these products, founder Stuti told Entrackr that while a lot of companies use extracts in its products, Amrutam focuses on using raw herbal ingredients. “Almost all the ingredients are sourced from across India. We also grow a few of the medicinal plants ourselves in our Vatika,” she said.
The NSRCEL incubated company currently sees around 60,000 users per month and approximately 2000 daily active users. A major chunk of its users belong to the age group of 25-35 and the company claims to have a 50% customer retention rate.
Being a globally available platform, it receives 95% of its sales from India and the rest 5% comes from countries where orders are placed organically.
With the aim of building a community of people who understand the importance of Ayurveda and inculcate it in their daily life, the brother-sister duo recently launched the Amrutam app.
Although the product sales is one of its key offerings, the app additionally provides content driven blogs and e-books as educational resources and provides its newly introduced teleconsultation services for its users. Currently working with about 15 doctors, the company plans on onboarding more doctors in the coming year.
Co-founder of Amrutam, Agnim said, “The doctors are not restricted to prescribe only our medicines. They get to recommend other companies as well even if the product is not available on our site.”
The bootstrapped company had a revenue of Rs 3.2 crore in FY 22-23 with a revenue split of 65% from the website and 35% from various marketplaces. It also saw a positive EBITA with 4.8X growth in the last six months.
Apart from the future goals of growing globally, Amrutam plans on foraying into offline distribution choosing Franchise owned Franchise Operated model once the company crosses an ARR of Rs 20 crores. It also plans on building its network of doctors and eventually work with them as brand ambassadors.
In 2022 the Indian ayurvedic products market reached Rs 626 billion. These numbers are expected to be bumped up to Rs1,824 billion by 2028 growing at a CAGR of 19.3%. The global ayurveda market size is expected to reach $23810.04 million by 2030 at a 15.06% CAGR from 2022 to 2030.