A Detailed Financial Analysis on Prominent Indian Ayurveda Companies Before and After the COVID Era
Keywords:
Ayurveda, ayurvedic enterprises, ayush, covid-19 impact, financial performance, profitability analysisAbstract
At present, the Ministry of AYUSH under the Government of India regulates and promotes Ayurvedic medicine as a well-recognized and systematically governed alternative healthcare system. In response to the growing global demand for traditional and holistic medical practices, several universities and institutions now offer specialized degree programs in Ayurveda to produce qualified medical professionals. Ayurveda, which is considered an Upaveda of the Atharva Veda, represents one of the oldest traditional systems of medicine in the world and is believed to have been practiced for more than 5,000 years. It emphasizes a holistic approach to health, focusing on the balance between body, mind, and spirit. This study examines the financial performance of selected Ayurvedic enterprises in India over an eight-year period, covering both the pre-COVID era (2016–17 to 2019–20) and the post- COVID era (2020–21 to 2023–24). The primary objective of the research is to assess the profitability performance of Ayurvedic companies during these two phases. For this purpose, key financial indicators such as earnings per share, net profit ratio, return on net worth, return on capital employed, and return on assets have been analyzed. The findings of the study indicate that the coronavirus does not significantly differ from other viruses in terms of its long-term financial impact on leading Ayurvedic firms. Although the overall healthcare and medical industry witnessed substantial growth after the COVID-19 outbreak, major Ayurvedic enterprises did not experience a notable or consistent improvement in their financial performance during the post-pandemic period.
References
Trikramji AJ. 1st Adhyaya. In: Trikramji AJ, editor. Charak Samhita. 5th ed. Varanasi, India: Chaukhambha Sanskrit Sansthan; 2001. p. 23.
Nair-Ghaswalla A. It’s mad ad world coverage in Hindu Business Line National. Chennai, India: Hindu Business Line; 2013.
Brevort P, Parle M, Bansal N. Herbal medicine: Current status and the future. Asian J Cancer Prev. 2006;4:281–288.
Gupta R, Raina N. Pharmacovigilance of herbal medicines. New Delhi, India: ICMR; 2008.
Bhattacharya S. Natural products against Alzheimer’s disease: Pharmacotherapeutics and biotechnological interventions. Amsterdam, Netherlands: Elsevier; 2017.
Barrueto F, Tarabar A. Herb poisoning [Internet]. New York, USA: Medscape; 2016.
De Smet PA. Herbal medicine in Europe—relaxing regulatory standards. N Engl J Med. 2005;352(12):1176–1178.
Conner M, Kirk SF, Cade JE, Barrett JH. Dietary supplement use in women: Current status and future directions. J Nutr. 2003;4:1978–1982.
Edwards IR, Aronson JK. Adverse drug reactions: Definitions, diagnosis, and management. Lancet. 2000;356:1255–1259.
Dietary Supplement Health and Education Act of 1994. Washington, DC: US Congress; 1994.
Goldsworthy RC, Mayhorn CB. Prescription medication sharing among adolescents: Prevalence, risks, and outcomes. J Adolesc Health. 2009;45:634–637.
Auton F, Chung JE. Patient-provider discussion of online health information: Results from the 2007 Health Information National Trends Survey (HINTS). J Health Commun. 2013;18(6):627–648.
Chow WS, Angie NKO. A study of trust in e-shopping before and after first-hand experience is gained. J Comput Inf Syst. 2011;46:125–130.
Barr Levy, Schutz, Bendel R, Bhalla G, et al. Food supplement usage in seven Western states. Am J Clin Nutr. 1982;36:897–901.
Bailey RL, Dodd KW, Gahche JJ, Dwyer JT. Total folate and folic acid intake from foods and dietary supplements in the United States. Am J Clin Nutr. 2010;91:231–237.
