SastaSundar.com is building Indias leading digital network of healthcaremanaging e cient pharma & wellness products supply chain & connec ngdoctors diagnos c services healthcare clinics and health informa on services.
We are a start-up company in the healthcare domain which has the poten al to solve oneof the biggest problems in India.
Despite being one of the biggest producers of drugs and having a large pool of talenteddoctors and health care Executives it is surprising that a major por on of the Indianpopula on does not have consistent access to a ordable healthcare in a convenient manner.The reasons of which are:
1. Lack of systema c health informa on and counselling
2. Unorganised distribu on system largely based on ar ficially created SKUs of brandedgenerics
3. Lack of connec vity between doctors path labs service providers and producerswith customers
4. A system which works on assump ons and past experiences rather than on data andfuturis c intelligence
5. Lack of systema c tracking of the produc on delivery and services crea ng a liferisk model of fake drugs and services
6. An environment which is rela vely less focused on preven ve care and wellness anddefines healthcare as post disease care and pill management.
Forget nutri on preven ve care and even accessibility! You will also be surprised toknow that in spite of spending adequate money and having enough resources up to 25% ofthe drugs sold in India are fake.
Therefore the bo om-line of this persistent crisis and thereby health and life-threatis the "absence of organised connec vity".
Now can we not organise?
Todays digital technology has opened doors of enormous opportuni es to organiseand establish connec vity across the country and we at SastaSundar.com have taken this asour mission to use knowledge and digital connec vity to reduce cost and add convenience inmaking available high-quality medicines healthcare products and services to make lifesimple and happy.
SastaSundar.coms business model is focussed on customers health whichrelaxes on the four strong pillars of genuinity accessibility a ordability andconvenience. We primarily work on the following four-fold ways to gi health and happinessto our customers:
One we establish an emo onal bond and understanding with our customers through ourHealthbuddies. Two we use data and ar ficial intelligence to make our app and website enrely customer specific. Three we provide counselling to our customers by pharmacies andHealth Informa on services in our app and website by the "Know Health" tab.Four we work towards our social accountability through the segment "donate yourunused medicine."
While working hard on our present mission we also keep the following points in mind:
1. We have exited from the domain of financial services as our core business becausein the next ten years we cannot certainly be the market leaders of financial services inIndia.
Finding ourselves in the same Red Ocean as others we cannot be happy having thepresent cash flow at the cost of future cash flow and growth. Focus has been instrumentalin our working methodologies and we decided to employ our en re focus currently on thehealthcare domain as our core business.
2. We choose to be like a child again as "being child" is ourculture.
Like a child we innovate and explore the unknown connect emo onally with trustedpeople are content and focused live in the present believe in fearless rela onshipsare accountable for our work build to rebuild ideas treat everyone equally acquireknowledge and think big and act small.
With the support of our team (GenSS) who are emo onally connected with each other wetake up risks to scale steady levels of growth.
3. Our business stands on the plinth of our core value which is "BeingGenuine".
Our en re model ensures Genuinity in all the dealings with our stakeholdersshareholders and consumers. We firmly believe that the transparency of our conduct andReporting along with our genuine products and e cient services will reflect our genuinity.
4. Our model - an Indian innova on for Indian popula on.
We are working on an Online to O ine chain of digital healthcare based upon digitaltechnology connected with physical healthbuddy centres specialised in counselling.
5. We are growing.
Our steady growth is tes fied by our GMV by the end of the financial year on 31.3.2017which was Rs. 153.10 crores considerably higher than Rs. 89.81 crores inthe financial year 15-16. Consequently it is evident that we have grown by more than 70percent!
Beginning the model with an experimenta on we have now established our healthbuddynetworks in every district of West Bengal with a current number of 183 healthbuddies andin terms of distribu on network too we stand as leaders. Our model is being constantlyenhanced with every passing day and we are now in the process of finalising theinfrastructure in Delhi. We intend to commence the Operations there soon.
Gaining experience on our model in a di erent state will help us mature the learningcurve and expand the model pan India in leaps and bounds.
Our prac ce of thinking big and ac ng small will aid us in taking control of our costand learning the implica ons of our decisions.
6. We are not just a pharmacy but a digital healthcare network.
The delivery of medicines and healthcare products form an important part of our porolio but along with that we are working on an integrated digital healthcare network whichincludes the following:
a. Health informa on service
b. Path labs connect
c. Doctors and hospitals associa on
d. Health data using ar ficial intelligence.
We are working to setup our own brand of pathological laboratories soon aiming tostart their services and connec ng doctors as well.
7. Why we are Reporting losses.
I would like to draw your a en on on the following matrix in the year ending on31.03.2017. Gross Merchandise Value (GMV) - Rs. 153.10 Crores Sales reported inaccounts - Rs. 111.30 Crores Cost incurred in purchases - Rs. 108.56 CroresContribu on - Rs. 2.74 Crores
Our sales are the net of customer discount and Pay-outs of healthbuddies for promo onsservices and last mile logis cs. We are Investing in the intangibles for future cash flowand these costs are being debited in the profit and loss account. We shall be expandingand therefore con nue to invest as at least in the next three years we shall be Reportinglosses.
8. Our business will posi vely impact the society.
The DNA of our business is posi ve social change and our success will not only bemaking money but also bringing a smile of health and happiness on millions of faces.
9. We have ini ated innova on.
Our ini a ve of the customised health supplement "DNAVITA" make-to-orderbakery and confec onery- "Chef On" will certainly revolu onise the way peopleproduce and consume.
10. We are small but our mission is great.
In the journey of crea ng something unique which can make a di erence in the waybusinesses are done we shall be making partners and companioning with them. You must alsobe aware that we have allo ed 13% of the stake to Rohto Pharmaceu cals Co. Ltd. Japan aswe share a similarity with them in our mission of good health.
11. Let us be together on SastaSundar Pray Day let us all stand for 2 minutes at 3 pmon 7th of every month and pray for the worlds health and happiness aSastaSundar.com ini a ve.
B L Mittal
Chairman & Managing Director