D2C-first Indian home-healthcare and wellness devices maker (Dr Trust, Dr Physio) — BP monitors, thermometers, massagers, scales, orthopedic and respiratory-care products, sold mostly online with in-house Mohali manufacturing.
Price
Market Cap
Sector
Healthcare
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 0 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | 15 | 153 | 193 | 185 | 183 | 184 | 189 | 171 |
| Borrowings | 10 | 4 | 4 | 3 | 3 | 5 | 5 | 2 |
| Other Liabilities | 9 | 19 | 12 | 8 | 10 | 11 | 21 | 13 |
| Total Liabilities | 34 | 186 | 219 | 207 | 205 | 210 | 225 | 196 |
| AssetsFixed Assets | 1 | 4 | 10 | 9 | 7 | 9 | 14 | 14 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 33 | 59 | 94 | 1 | 8 | 1 |
| Other Assets | 33 | 182 | 175 | 139 | 104 | 200 | 203 | 182 |
| Total Assets | 34 | 186 | 219 | 207 | 205 | 210 | 225 | 196 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | -8 | 35 | 1 | 10 | -3 | -19 | 3 |
| Cash from Investing | 0 | 0 | -110 | -3 | -16 | 18 | 8 | 14 |
| Cash from Financing | 0 | 8 | 92 | -7 | -2 | -1 | 0 | -20 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | -8 | 34 | -5 | 10 | -4 | -23 | -3 |
| FCF Margin | — | — | — | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
NURECA · CYCLICAL_UNMODELABLE
Guides on how to read this kind of business and the numbers that matter.