---
title: "Vaidya Sane Ayurved Laboratories Ltd (MADHAVBAUG) — Share Price, Financials & Analysis"
symbol: "MADHAVBAUG"
company: "Vaidya Sane Ayurved Laboratories Ltd"
canonical: "https://tapetide.com/stocks/MADHAVBAUG"
isin: "INE0JR301013"
nse_symbol: "MADHAVBAUG"
sector: "Healthcare"
industry: "Medical Equipment"
market_cap_cr: 167.11
generated_at: "2026-09-13T18:25:43.967Z"
---

# Vaidya Sane Ayurved Laboratories Ltd (MADHAVBAUG)

Canonical page: https://tapetide.com/stocks/MADHAVBAUG

## Company

- **NSE Symbol:** MADHAVBAUG
- **ISIN:** INE0JR301013
- **Sector:** Healthcare
- **Industry:** Medical Equipment
- **Macro Sector:** Healthcare
- **Stock Type:** EQUITY
- **Listed Since:** 2022-02-23
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** madhavbaug.org

## About

Incorporated in 2006, Vaidya Sane Ayurved Laboratories Ltd is the business of running 
of hospitals & clinics, and sale of Ayurved based medicines[1]

## Latest Price

- **Price:** ₹159.35
- **Change:** +0.4 (+0.25%)
- **Open:** ₹157.9
- **Day High:** ₹160
- **Day Low:** ₹157.9
- **Previous Close:** ₹158.95
- **Volume:** 5600
- **As Of:** 2026-09-11T09:53:19+00:00

## Key Fundamentals

Observed at 2026-09-11T04:42:47.759711Z.

- **Market Cap:** ₹167.11 Cr
- **Classification:** SME
- **P/E (reported):** 18.6
- **Book Value:** ₹83.16
- **Price to Book:** 1.91
- **Dividend Yield:** 0.31%
- **ROE:** 11.44%
- **ROCE:** 15.28%
- **Debt to Equity:** 0.03
- **Revenue (yearly):** ₹106.91 Cr
- **Net Income:** ₹8.71 Cr
- **EBITDA:** ₹15.42 Cr
- **52-Week High:** ₹335
- **52-Week Low:** ₹147
- **RSI (14):** 38.56

## Tapetide Score

- **Score:** 47 / 100
- **Score date:** 2026-09-04
- **Archetype:** Cheap but Weak
- **What it means:** A low multiple sitting on weak financials. Worth establishing what the market is discounting before treating the low valuation as an opportunity — weak fundamentals often justify it.
- **Pillar profile:** Quality: Weak · Valuation: Cheap · Momentum: Falling
- **Percentile:** 35.6 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 85.51 | 9% |
| growth | 64.45 | 9% |
| momentum | 15.13 | 12% |
| ownership | 50 | 24% |
| quality | 48.19 | 22% |
| valuation | 60.01 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is almost debt free.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 10.2% over last 3 years.
- Working capital days have increased from 41.3 days to 112 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 941.27% | — | -96.4% |
| ebitda margin growth | -33.64% | -15.76% | 127.95% | — |
| net income growth | -4.54% | 20.97% | 23% | — |
| revenue growth | 11.47% | 16.59% | 3% | — |
| roce | — | 185.07% | -3.05% | — |
| roe | — | 219.55% | 8.99% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 46 | 54 | 51 | 48 | 42 | 48 | 50 | 57 |
| Expenses | 41 | 50 | 48 | 46 | 36 | 40 | 41 | 50 |
| Operating Profit | 4 | 4 | 3 | 2 | 6 | 9 | 9 | 7 |
| OPM % | 9 | 7 | 5 | 3.8 | 14 | 18 | 17 | 12 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 |
| Profit before tax | 4 | 3 | 2 | 1 | 5 | 5 | 6 | 4 |
| Tax % | 27 | 23 | 25 | 37 | 21 | 34 | 25 | 4 |
| Net Profit | 3 | 2 | 1 | 1 | 4 | 3 | 5 | 4 |
| EPS in Rs | 2.6 | 1.99 | 1.12 | 0.76 | 3.58 | 3.21 | 4.59 | 3.96 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 99 | 99 | 90 | 107 |
| Expenses | 91 | 95 | 76 | 91 |
| Operating Profit | 9 | 5 | 13 | 15 |
| OPM % | 9 | 4.5 | 15 | 14 |
| Other Income | 1 | 2 | 1 | 2 |
| Interest | 1 | 0 | 0 | 1 |
| Depreciation | 3 | 3 | 4 | 6 |
| Profit before tax | 6 | 3 | 10 | 11 |
| Tax % | 25 | 30 | 28 | 17 |
| Net Profit | 5 | 2 | 7 | 9 |
| EPS in Rs | 4.59 | 1.88 | 6.8 | 8.55 |
| Dividend Payout % | 5 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Equity Capital | 11 | 11 | 11 | 11 |
| Reserves | 30 | 45 | 52 | 77 |
| Borrowings | 0 | 2 | 1 | 3 |
| Other Liabilities | 14 | 12 | 13 | 14 |
| Total Liabilities | 55 | 70 | 77 | 105 |
| Fixed Assets | 21 | 28 | 34 | 35 |
| CWIP | 2 | 2 | 1 | 2 |
| Investments | 15 | 18 | 21 | 40 |
| Other Assets | 17 | 21 | 20 | 28 |
| Total Assets | 55 | 70 | 77 | 105 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | -1 | 11 | 5 |
| Cash from Investing Activity | 1 | -13 | -10 | -24 |
| Cash from Financing Activity | -1 | 15 | -1 | 17 |
| Net Cash Flow | -1 | 1 | 0 | -2 |
| Free Cash Flow | -7 | -12 | 2 | -2 |
| CFO/OP | 31 | -9 | 93 | 49 |

### Ratios

| Item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Debtor Days | 22 | 22 | 31 | 35 |
| Inventory Days | — | 58 | 82 | 70 |
| Days Payable | — | 101 | 149 | 127 |
| Cash Conversion Cycle | 22 | -20 | -37 | -21 |
| Working Capital Days | -2 | 5 | 7 | 112 |
| ROCE % | — | 6 | 18 | 15 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% | 66.34% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 24.03% | 24.27% | 24.24% | 23.9% | 22.92% | 22.31% | 22.69% | 22.24% | 21.94% | 21.8% | 21.63% | 21.1% |
| Others | 9.63% | 9.39% | 9.42% | 9.76% | 10.74% | 11.35% | 10.97% | 11.43% | 11.72% | 11.86% | 12.03% | 12.56% |
| No. of Shareholders | 464 | 534 | 595 | 637 | 731 | 846 | 881 | 821 | 787 | 712 | 700 | 671 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 6 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 159.6 | Sell |
| EMA (10) | 160.49 | Sell |
| SMA (20) | 166.39 | Sell |
| EMA (20) | 166.59 | Sell |
| SMA (50) | 181.71 | Sell |
| EMA (50) | 177.82 | Sell |
| SMA (100) | 193.46 | Sell |
| EMA (100) | 190.13 | Sell |
| SMA (200) | 219.1 | Sell |
| EMA (200) | 198.04 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 39.03 | Neutral |
| MACD (12,26,9) | -7.75 | Sell |
| Stochastic (14,3,3) | 27.6 | Neutral |
| ADX (14) | 27.56 | Buy |
| Williams %R (14) | -67.33 | Neutral |
| ATR (14) | 5.7 | High Volatility |
| ROC (12) | -10.78 | Sell |
| Stoch RSI (14) | 46.97 | Neutral |
| UO (7,14,28) | 51.29 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Newspaper ads published for 27th AGM notice, annual report dispatch, remote e-voting, and book closure on September 9, 2026. | [General Updates 9 Sep - Newspaper ads published for 27th AGM notice, annual report dispatch, remote e-voting, and book closure on September 9, 2026.](https://nsearchives.nseindia.com/corporate/VSAL1999_09092026155608_IntimationofNewspaperPublished.pdf) |
| 6 February 2026 - Acquiring 100% of Aaharshastra Foodz for ~INR 1,50,000; subject to SPA closing conditions. | [General Updates 6 February 2026 - Acquiring 100% of Aaharshastra Foodz for ~INR 1,50,000; subject to SPA closing conditions.](https://nsearchives.nseindia.com/corporate/VSAL1999_06022026124556_Reg_30_intimationss.pdf) |
| 5 Sep - Annual report FY26 and AGM notice for 30 Sep 2026; book closure 23-30 Sep, e-voting 27-29 Sep. | [Shareholders meeting 5 Sep - Annual report FY26 and AGM notice for 30 Sep 2026; book closure 23-30 Sep, e-voting 27-29 Sep.](https://nsearchives.nseindia.com/corporate/VSAL1999_05092026003958_SEIntimationAnnualReports.pdf) |
| 5 February 2026 - No deviation in utilization of preferential issue proceeds; warrants lapsed Nov 27, 2024 and Feb 15, 2025. | [General Updates 5 February 2026 - No deviation in utilization of preferential issue proceeds; warrants lapsed Nov 27, 2024 and Feb 15, 2025.](https://nsearchives.nseindia.com/corporate/VSAL1999_05022026122436_DEC2025_Initmation_of_Statement_of_Deviationsigned.pdf) |
| 4 Sep - Board approved 30 Sep 2026 AGM, reappointments, remuneration hike, and 3 lakh-share ESOP 2026. | [Outcome of Board Meeting 4 Sep - Board approved 30 Sep 2026 AGM, reappointments, remuneration hike, and 3 lakh-share ESOP 2026.](https://nsearchives.nseindia.com/corporate/VSAL1999_04092026161143_SEOutcomeBM04092027.pdf) |
| 30 June 2026 - Company granted Indian Patent 593487 for herbal formulation method on 25 June 2026. | [General Updates 30 June 2026 - Company granted Indian Patent 593487 for herbal formulation method on 25 June 2026.](https://nsearchives.nseindia.com/corporate/VSAL1999_30062026123023_SEIntimationPatentss.pdf) |
| 3 April 2026 - Vaidya Sane Ayurved Laboratories Limited has informed about General Updates | [General Updates 3 April 2026 - Vaidya Sane Ayurved Laboratories Limited has informed about General Updates](https://nsearchives.nseindia.com/corporate/VSAL1999_03042026115926_cover_Reg_31_4__SEBI_SAST-_Vaidya_sane__2_files_merged_.pdf) |
| 29 April 2026 - Company denies undisclosed information, saying share price movement is market driven. | [General Updates 29 April 2026 - Company denies undisclosed information, saying share price movement is market driven.](https://nsearchives.nseindia.com/corporate/VSAL1999_29042026172704_Initmation_surveillance.pdf) |
| 28 May 2026 - Madhavbaug launched FoodRx, a clinically designed food intervention system for diabetes, obesity and heart disease prevention. | [General Updates 28 May 2026 - Madhavbaug launched FoodRx, a clinically designed food intervention system for diabetes, obesity and heart disease prevention.](https://nsearchives.nseindia.com/corporate/VSAL1999_28052026150957_SEIntimationFoodrxpressrelease.pdf) |
| 24 March 2026 - Trading window closed Apr 1, 2026 until 48 hours after audited results for quarter and year ended Mar 31, 2026. | [General Updates 24 March 2026 - Trading window closed Apr 1, 2026 until 48 hours after audited results for quarter and year ended Mar 31, 2026.](https://nsearchives.nseindia.com/corporate/VSAL1999_24032026161007_Vaidya_Sane-Trading_Window_300902026_final.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/VSAL1999_10112025170930_SEIntimationTranscriptH1FY26.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/MADHAVBAUG_15112024162755_SEInitmationH1FY25Transcript.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://nsearchives.nseindia.com/corporate/MADHAVBAUG_21112023132000_Intimation_Transcript_Submission_Signed.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://nsearchives.nseindia.com/corporate/MADHAVBAUG_24112023151522_InvestorPresentation_24112023_Signed.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://archives.nseindia.com/corporate/MADHAVBAUG_10112022162900_InvestorPResentation.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/VSAL1999_27052025112310_SEInitmation.pdf) |
| May 2024 | [Concall - May 2024](https://nsearchives.nseindia.com/corporate/MADHAVBAUG_29052024103219_InvestorPresentation_31032024_Signed.pdf) |
| May 2023 | [Concall - May 2023](https://archives.nseindia.com/corporate/MADHAVBAUG_29052023131141_Intimation_InvestorPresentation_Submission_Signed.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://nsearchives.nseindia.com/corporate/MADHAVBAUG_01062024153616_Transcript_29052024_Signed.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26206_MADHAVBAUG_2023_2024_08092024195826.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_22856_MADHAVBAUG_2022_2023_21082023223020_08222023070001.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_20073_MADHAVBAUG_2021_2022_18062022164116_06182022170002.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:25:43.967Z.