"WE REMAIN COMMITTED TO EXPANDING OUR FOOTPRINT IN KEY MARKETS,
DIVERSIFYING OUR SERVICE OFFERINGS, AND FORGING STRATEGIC PARTNERSHIPS THAT COMPLEMENT OUR
STRENGTHS. THESE INITIATIVES WILL ENABLE US TO CAPTURE NEW MARKET SEGMENTS AND ENHANCE
SHAREHOLDER VALUE."
Dear Stakeholders
I am pleased to share an update on our Company's performance,
progress and prospects in the home healthcare sector.
After quite an exceptional FY22 owing to a surge in online sales for
home healthcare devices consequent to the pandemic and lockdowns, FY23 experienced a drop
in online sales of healthcare products as Covid-19 pandemic-related tailwinds that drove
significant growth in online shopping in earlier years waned considerably.
As a result, our performance in FY23 was tepid. Our revenue from
operations slid, and our bottomline changed color – from black to red.
This drop does not significantly perturb me because I consider this
performance as back to reality from the heady highs of FY22 and the fiscal before that.
While FY21 & FY22 were highly challenging from a health perspective, they did Nureca
well – in establishing our brand as a trusted home healthcare solution. They enhanced
our financial strength to continue building our product and service portfolio.
Leveraging the positives of FY22, we continued to build on our
strengths. We launched interesting personalized products and stand-out solutions in their
respective categories. Case in point: epsoMAX is India's first and only natural
pain-relieving body wash and foot cream. We launched Organic Baby products which we
believe will become trend-setting over the coming years.
With nearly 100 trend-setting products launched in the last 24 months,
Nureca stands out in the competitive landscape with an easy-to-use solution in every usage
category. Our product bandwidth has earned us the acceptance and trust of 1.12 crore plus
customers. Moreover, our Dr. Trust device ecosystem strengthens our dominance in the home
healthcare space.
We made a transformative change in our business operations. We
commenced in-house manufacturing operations under our subsidiary Nureca Technologies
Private Limited. Our state-of-the-art, globally-certified unit (ISO 9001 and 13485)
presently manufacturers eight products. We wish to expand the manufacturing capacity and
capability of the unit as we move forward.
FY23 has been a defining year for our Dr Trust digital platform. I am
delighted to share that our user base for our digital solution has crossed the 1 Million
mark. Moreover, we successfully integrated all our devices onto this unique platform.
With the launch of our connected devices ecosystem, we will leverage
data science capabilities to empower more people living with chronic and lifestyle
diseases to live better and healthier lives.
Our software will analyze clinical data and apply iterative insights to
our user's lifestyles to deliver a more personalized care experience. It will
reinforce our theme of shifting India's healthcare sector from curative to preventive
and pre-diagnostics.
We will be one step closer to our goal of positively impacting our
users' lifestyles and health and eventually enhancing their longevity.
Dr. Trust 360 platform with an affordable subscription rate, can change
our business model from being a product-driven company to a services-driven company.
Remaining committed to our ‘Phygital presence,' we continued
to widen our on-ground presence. By end of FY23, we have collaborated with more than 180
stockists and 6000+ Retailers across all states of India. We feel that our expansive and
growing phygital presence will widen our product and brand awareness resulting in
increased traction for our products.
The home healthcare industry is experiencing significant growth, driven
by an aging population, rising chronic diseases, and the increasing adoption of digital
health solutions. We are well-positioned to capitalize on these opportunities and create
long-term shareholder value.
Our competitive advantages lie in our differentiated service offerings,
strong brand reputation, and the tech we nurture. These strengths enable us to provide
high-quality care and personalized solutions to meet the evolving needs of our patients.
We have been at the forefront of innovation, integrating technology to
enhance patient care and operational efficiency. Our investment in telemedicine, remote
monitoring, and other digital health solutions has enabled us to deliver convenient access
to healthcare services while improving patient outcomes.
We remain committed to expanding our footprint in key markets,
diversifying our service offerings, and forging strategic partnerships that complement our
strengths. These initiatives will enable us to capture new market segments and enhance
shareholder value.
We recognize the trust you have placed in us as shareholders and are
dedicated to creating value and delivering solid returns on your investment. Our
commitment to transparency, sound governance practices, and shareholder-friendly policies
remain unwavering.
We extend our gratitude to our shareholders for their continued
support. Together, we will navigate the dynamic landscape of the home healthcare sector,
seize emerging opportunities, and shape the future of healthcare delivery.