&w=3840&q=100)
Aarthi Scans to invest Rs 350 crore, expand strongly in North India by 2030
Now in its 25th year of operations, Aarthi Scans is also planning to launch an initial public offering (IPO) within the next three years. Simultaneously, the company is preparing to foray into the fitness diagnostics segment to cater to a wider audience.
'We are planning our IPO in the next three years. Every year, we are clocking a growth of around 20 per cent. In FY25, our turnover was around Rs 320 crore, which is slated to cross Rs 375 crore during the current financial year,' said V Govindarajan, founder of Aarthi Scans and Labs. The company has set a target of achieving a turnover of Rs 600 crore in the next four to five years.
Pan-India footprint with a northern focus
Aarthi Scans currently operates 85 branches and 150 collection centres across 18 cities in 11 states, including Tamil Nadu, Karnataka, Telangana, Maharashtra, Delhi, West Bengal, Gujarat, Puducherry, Andhra Pradesh, Kerala, and Haryana. Around 25 branches are located in Chennai alone, with 18 clustered in and around the city.
'Our aim is to add an average of around 10 branches every year. Within three months, we will be starting operations in Uttar Pradesh as well. Of the total branch expansions in the next five years, 90 per cent will be in North India,' Govindarajan said.
From outpatient clinic to diagnostic leader
Govindarajan entered the healthcare sector in the late 1980s by starting a small clinic, Aarthi Clinic—named after his daughter—for his doctor wife in Kovilpatti, Tamil Nadu. The family launched a multispeciality hospital in 1995, followed by a foray into diagnostics in 2000 and the opening of its first centre in Chennai's Vadapalani in 2003.
Today, Aarthi Scans is managed by a family-run team of radiologists: Prasanna Vignesh, Aarthi Prasanna, and Arunkumar Govindarajan.
AI-led transformation and new service verticals
Arunkumar, Govindarajan's son, is spearheading the company's technological transformation. From X-rays and CT scans to brain volumetric analysis, the company has adopted artificial intelligence (AI) across several operations.
'AI is making the job of radiologists easier. Globally too, India has adopted AI better than even some developed nations,' said Arunkumar. He added that the company is in the process of launching fitness diagnostics, a fast-growing segment in India.
Private equity talks and future outlook
Aarthi Scans came into the spotlight in 2022 when reports emerged that Tata Capital Growth Fund, a mid-market private equity fund, was in talks to acquire a minority stake in the company.
'We were in talks with Tata Capital during Covid. We were doing some extremely good business and wanted to rope in a minority investor. Finally, the valuation did not match,' Govindarajan said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
21 minutes ago
- Economic Times
Oberoi Realty shares in focus as institutional investor likely to offload 3% stake in $230-million exit
Oberoi Realty shares will be in focus on Wednesday following reports that an institutional investor is likely to offload around 3% stake in the company through a $230 million block deal, sources told CNBC-TV18. ADVERTISEMENT The floor price for the deal has been set at Rs 1,753.2 per share, representing a 4% discount to Tuesday's closing price (22 July). The transaction is said to be a clean-out trade, although the identity of the selling investor has not been disclosed. Also Read: Paytm stock rallies 122% in one year but still 53% below issue price. Can it reclaim its IPO glory? Oberoi Realty Q1 Earnings In Q1FY26, Oberoi Realty reported a 28% year-on-year (YoY) drop in net profit to Rs 421.2 crore, compared to Rs 585 crore in the same period last year. Revenue from operations declined 29.7% YoY to Rs 987.5 crore, down from Rs 1,405 fell 36% YoY to Rs 520.4 crore, with margins narrowing to 52.7% from 58% a year earlier. ADVERTISEMENT The company also announced an interim dividend of Rs 2 per share for FY25-26. The record date is July 25, and the dividend will be paid on or before August Oberoi, Chairman and Managing Director, said the company continues to benefit from strong demand in the luxury housing segment. ADVERTISEMENT 'Demand for luxury homes remains strong, fuelled by rising aspirations and a growing desire for an enhanced lifestyle. We are pleased to report another healthy quarter, driven by the successful tower launch at Elysian, Oberoi Garden City, Goregaon,' he said. Also Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% ADVERTISEMENT Oberoi Realty share price target According to Trendlyne, the average target price for Oberoi Realty stands at Rs 1,873, suggesting a potential upside of nearly 3% from current levels. Of the 24 analysts tracking the stock, the consensus rating remains 'Buy'. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Scroll.in
22 minutes ago
- Scroll.in
Banking, airlines, railways, coal, jute, newspapers: Ramkrishna Dalmia's business-building spree
Ramkrishna Dalmiya was one of India's leading industrialists, with diverse business interests spanning sugar, cement, chemicals, glass, dairy, aviation, biscuits and more. He continued to play a role in the freedom movement, providing financial support to political leaders and the Congress party. He had acquired a taste for dabbling in politics and enjoyed the company of many political leaders including Gandhi, Subhas Chandra Bose, Rajendra Prasad, Sardar Patel and Nehru. His deep friendship with Jinnah also continued. Ramkrishna had realised that together with his brother and son-in-law, they formed a formidable team. The two younger men left all financial decisions and acquisitions to Ramkrishna, recognizing his financial acumen. On their part, Jaidayal and Shanti Prasad concentrated on managing the operations of their various enterprises, demonstrating their ability to run and oversee diverse businesses. The business group, known as the Dalmia-Jain Group, had grown steadily in prominence and was counted among the biggest and best in the country. In 1943, Ramkrishna established Bharat Bank. Ramkrishna decided almost overnight that he wanted to acquire the bank. The authorised capital of the bank was Rs 50 lakh, but in no time, Ramkrishna raised it to Rs 20 crore. He appointed new directors, including well-known individuals such as state chief ministers. Appointing political leaders as directors in his companies was a strategic way for Ramkrishna to oblige them. While he sometimes provided financial support directly, he found that offering directorships or partnerships in managing agencies was a more refined approach. The directors of Bharat Bank appreciated the prestige of their positions as well as the money they earned. The bank soon expanded to 292 branches across the country. At the time, there was no centralised banking system, so each branch operated independently, catering to local markets and industries. Each branch had its own board, and Ramkrishna continued to appoint prominent individuals to these positions. During the late 1930s and early 1940s, many British companies had seen the writing on the wall, realising that India would soon gain its independence. Britisher owners therefore sought to sell their companies to local businessmen and industrialists and return to Britain. Ramkrishna saw a huge opportunity in this environment to acquire diverse companies. Being a risk-taker, he was willing to accept losses in some ventures. Jaidayal and Shanti Prasad supported him. The managing agency system allowed Ramkrishna to invest a small amount and acquire less than 10 per cent stakes in the companies he identified. Leveraging his network in the market and his growing reputation as an industrialist, he was able to get the shares of the acquired companies sold in the stock market. The Dalmia-Jain Group went on an acquisition spree, securing a majority stake in three jute mills. Jute was a thriving industry in India at the time, and Andrew Yule managed three mills: Albion Jute Mills Ltd, Lothian Jute Mills Ltd and New Central Jute Mills Ltd. Ramkrishna bought a controlling stake in all three mills just before Independence. Some years later, the Group bought two more mills, this time in Bombay – Madhowji Dharamsi Manufacturing Co. Ltd and Sir Shapurji Broacha Mill Ltd. By the end of the Second World War, the Dalmia-Jain Group forayed into the automotive sector. They purchased 50,000 American vehicles, including jeeps, weapon carriers and command cars. These war-used vehicles were repaired and reconditioned at the workshops of Allen Berry & Co. Ltd, a company Ramkrishna had acquired earlier. Along with establishing his presence in the automotive sector, Ramkrishna expanded his aviation interests. Indian National Airways, which had been acquired during the pre-war years and had been part of Govan Brothers Ltd, continued to fly its planes. A new company, Dalmia-Jain Airways Ltd., was formed, which flew cargo planes. Ramkrishna's vision was to use these airlines to link up with other aviation companies and connect upcountry destinations with existing trunk routes. Ramkrishna already had a presence in the railways sector, having previously acquired a small rail company for transporting raw materials to Dalmianagar. With his businesses now spread across the country, Ramkrishna expanded the railway company as well. The business empire was growing, with the Dalmia-Jain Group continuing to acquire companies. Much of the momentum was due to Ramkrishna's trademark fast decision-making. 'How is it that you are able to take decisions so quickly, Pitaji?' asked Shanti Prasad one day, amazed by the speed at which his father-in-law processed information and analysed the viability of a business. 'I really don't know, son. Maybe it is god-given, or perhaps it is something I developed during my years in the speculation business, where every minute – no, every second – is important. I think I unconsciously honed this skill during those days. But, I also think it is instinctive,' Ramkrishna replied after a moment's reflection. Shanti Prasad nodded in understanding. He had seen his father-in-law in action and realised that this ability was not something that could be learnt over time. 'You know that every minute, nay, every second is important when speculating. So, I think I have unconsciously developed this skill,' Ramkrishna continued. He spoke slowly as if reflecting and getting the answer from within. 'That makes sense, Pitaji,' he agreed. 'My advice to you, son, is to make quick decisions. Decide as quickly as you can. And don't worry about making wrong decisions. Not all your decisions will be correct – maybe eight out of ten will be right – but the gains from those eight decisions will usually outweigh the losses from the two wrong ones,' advised Ramkrishna. In the absence of a son of his own, he regarded Shanti Prasad as one. 'I will remember this, Pitaji,' promised Shanti Prasad solemnly. By the mid-1940s, the Dalmia-Jain Group, under Ramkrishna's leadership, had acquired a wide range of businesses. They owned several collieries, including Kharkhari Coal Co. at Junnardeo in the Central Province, Maheshpur Collieries Ltd in Jharia and Bharat Collieries Ltd, which had mines in Jharia, Barabani and Raniganj. Besides these, the Group had several other companies, including Patiala Biscuit Manufacturers Ltd, located in the state of Patiala. It produced biscuits and a range of other food products. Ramkrishna also acquired Lesco Chemical Works Ltd, which manufactured pharmaceutical products in Kanpur. The Group had a presence in the chemicals sector through Dhrangadhra Chemical Works in Kathiawar, Gujarat, which produced soda ash and sodium bicarbonate. It also owned Rampur Distillery & Chemical Works Ltd, which utilised molasses from the sugar mills to manufacture spirits and liquors. There was more. Rampur Maize Products produced glucose, starch and similar food products, while Shevaroy Bauxite Products Ltd, based in Yercaud, dealt in bauxite, emery and grinding paste. With its presence in various industrial sectors and locations across the country, the Dalmia-Jain Group was the third-largest business conglomerate in India. Only the Tatas and the Birlas were bigger. Yet, despite managing such a wide variety of businesses and factories, Ramkrishna had set his sights on one more sector – he aspired to enter the media industry. Ramkrishna held strong views on various aspects of politics and on cow protection. He had observed the influence newspapers wielded over public opinion, especially during his fight with ACC. He had already been funding the National Herald newspaper since its launch in 1938. The newspaper was founded by Jawaharlal Nehru, who served as its editor and chairman of its board. At the newspaper's inception, National Herald was in need of funds. Mohanlal Saxena, a close associate of Nehru, approached Ramkrishna to sell shares of the newspaper. Ramkrishna had agreed and asked how much money was required. Saxena explained that even if he bought shares worth Rs 5,000 and gave them only 25 per cent of the money (Rs 1,250), it would be enough to meet the newspaper's immediate needs. After listening to Saxena, Ramkrishna decided to buy shares worth Rs 25,000 and assured him that he would pay the full amount within ten days. Ramkrishna also nominated Shanti Prasad as a director on the National Herald's board. Even after many years, the Jain family continued to hold 25,000 preferential shares of the newspaper. Through this, Ramkrishna became a significant shareholder of the National Herald. He had seen the critical role the newspaper played in shaping public opinion, especially in the fight for freedom. Inspired by this, Ramkrishna decided that he, too, wanted to own a newspaper. He firmly believed that he could better serve his country by having a platform to reach millions of Indians. A newspaper, to his mind, was the best way to achieve this.
Scroll.in
22 minutes ago
- Scroll.in
I-T tribunal rejects Congress' plea for tax break on Rs 199 crore income
The Income Tax Appellate Tribunal on Monday dismissed an appeal by the Congress seeking tax exemption on an income of Rs 199 crore for the assessment year 2018-'19, Live Law reported. The tribunal rejected the party's claim under Section 13A of the 1961 Income Tax Act, observing that the Congress had filed its tax returns late and violated rules related to cash donation limits. A bench of Judicial Member Satbeer Singh Godara and Accountant Member M Balaganesh ruled: 'The assessee's return filed on [February 2, 2019] is not within the 'due' date to make it eligible for the impugned exemption.' The deadline for filing the income tax return for 2018-'19 was December 31, 2018. Its tax tiling for the year also did not provide details about contributions worth Rs 14.4 lakh out of the total donations worth Rs 142.8 crore it had received that year. Due to its non-compliance with the provisions to claim exemption, the Income Tax Department had issued notices to the Congress in September 2019, January 2020 and March 2020, demanding a tax of Rs 94.4 crore on an assessed income of Rs 199.1 crores for 2018-'19. The assessment order dated July 6, 2021, had denied the entire exemption claim, making the full receipt amount taxable. The Congress challenged the assessment order in August 2021 and applied for a stay on the recovery of the amount demanded by the Income Tax Department in October 2021. Later that month, an assessment officer disposed of the application, directing the Congress to pay 20% of its outstanding tax liability, failing which it would be treated as a defaulter. However, the Congress did not pay the 20% tax amount, leading the Income Tax Department to issue a letter in January 2023 to the Congress requiring the party to deposit and liquidate its tax liability. The Congress challenged this before the Commissioner of Income Tax (Appeals), the Income Tax Appellate Tribunal and the Delhi High Court, being denied relief at every forum. The High Court had criticised the Congress for 'badly' handling the matter and said that somebody from the Congress' office 'went off to sleep' from 2021. In April 2024, less than three weeks before polling began in the Lok Sabha elections, the Congress received tax notices for seven other assessment years. Are political parties exempt from income tax? Under Section 13A of the 1961 Income Tax Act, registered political parties will be exempt from paying tax on the income they receive provided they fulfil certain conditions. The party must maintain a book of accounts recording its income. It must maintain a record of the names and addresses of each person who contributes a sum over Rs 20,000 to it. The party's accounts must be audited by a chartered accountant. It must only accept contributions over Rs 20,000 via cheque, demand draft, electronic clearing system or other prescribed electronic modes. To claim an exemption, the treasurer of the party must submit a report listing all donations over Rs 20,000 received by the party in a financial year to the Election Commission by the due date for filing income tax returns. The provision also requires parties to file a tax return for the previous year. If any of these conditions are not satisfied, the party will not be able to claim income tax relief, according to Section 13A of the Income Tax Act and Section 29C of the 1951 Representation of the People Act.
