MBA Journals Peer-reviewed management research from Consortium e-Learning Network

NOLEGEIN Journal of Financial Planning And Management

A Detailed Financial Analysis on Prominent Indian Ayurveda Companies Before and After the COVID Era

  1. Kripalsinh R Rathod
  2. Mahesh R Sanga
  3. Priyanka M Parekh

Abstract

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.

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