Lodha, who was appointed group Ceo in August 2024, said the business is turning Around and that will help rebuild confidence amonc in investors and customers.
“This is the third quarter going on, [since] I joined, and in the last two Quarters there are significant changes happening in the business. We have cut down our loss by 80% by Quarter Form Quarter One, “He Told Mint,
In FY25, The company posted annualized revenue of 2,200 Crore, Basis of Q4. It is looking at revenue of 3,000 Crore by FY26, with Ebitda Profitability, Lodha Said.
“For the first time, the company will show a solid profitability and a good cash flow,” He said.
Lodha said his mandate is to run the business and that dispute between investors is not a distraction.
“The team is very focused. And my approach is also very focused,” said lodha. “The way things are gotting turned Around, I think people are gotting more confident. We are not losing customers trust of this.”
The Mumbai-Based B2B Medical Supply Chain Platform Has Been Mired In Controversy and Legal Disputes Folling A Whistleblower Complaint in December 2023 Accusing The Ther Round-writing of accounts to inflate revelation and other irregularities. The allegations have been validated by forensic audits. The company’s auditor resigned, its fY23 Financials was restated, and its Leadership was overhaled.
Founder’s ouster
Co-founder Vivek Tiwari Stepped Down as Chief Executive Officer in July 2024 to take on a board role. He was then ousted by the company’s board in April 2025 over allegations of Malicious and Fraudulent Activities, Including Financial Mismanagement and Financial Fraud.
Tiwari is Fighting Cases in Multiple Jurisdictions, Including the Delhi High Court and the National Company Law Tribunal. In an earlier interview to MintHe denied allegations of Financial Misreporting.
Additional, the company’s series C Investors Investors Creagis, CDC Group, Healthquad and Ackermans & Van Haaren, Fled An Indemnity Claim, Or Compensation, of 279 Crore against the company over allegations of Financial Misreporting.
Lodha come with over two decades of experience in the health and medtech space, having previously worked as group ceo at healthium medtech, Country Head for Samsung”s HEAD FOR SAMSUNG ‘ Vertical, and Sales Director at Ge Healthcare. He has “a proven track record of leading successful turnings of businesses,” According to his linkedin profile.
Medikabazaar Reported a Gross Operating Revenue of 1,355.5 Crore in FY24, A 50% Surge from the Preceding Year, According to Entrackr. Its loss widened by 30% to 394.8 Crore.
The company’s expansion is driven by adding new growth segments and an internal clean-up with a focus on transparency.
“If you ask me one word in this Organization which I’ve tried to change, it is to ‘Empower’ the people to take decisions, but then be Accountable,” He SAID.
The company has had a good retention of its Leadership, Employees and Customers Over the Past 18 Months, Lodha Said.
“That itself gives you confidence that things are pretty much solid in place,” Lodha said. “We have added many new segments, new leaders. But we retain the core,” He added.
Exports to Drive Growth
Lodha is driving the company’s expansion beyond Indian Shores. The company is alredy facilitating Indian manufacturers with certification to export to counties in the middle East, Africa, Some Parts of Asia, and South America.
“It is in the early stages… but it is a huge, significant grow for us as we go forward. At this point of time, expenses [segment] is not that significant. We are talking 5-6% of our business. But that will significantly grow to 15-20% as we go forward, “Lodha said.
Medicabazaar is a B2B Seller for Medical Equipment and Drugs, Including Consumbles Such as Surgical Gloves, Devices like Mri Machines, and Vaccines. It has over 400,000 customers through its digital marketplace and has tied up with over 1,000 hospitals in the country.
The company has also started its brand called MB+ For Medical Consumbles, Pharmaceuticals, And Vaccines that it will directly offer to customers, which is a high-margin business and will come Significant chunk of the company’s revenue, said lodha.
It is targeting tier-2 and tier-3 hospitals and aims to offer complete supply chain and procurement solutions to at least 100-150 hospitals in the next 12-14 months.
“In India, nobody has the portfolio breadth that with presence in equipment and devices, consumbles, disposables, IVD (in Vitro Diagnostics) and Pharma,” Said Lodha. “We offer a one-stop solution in all process segments… That’s a very big options for hospitals to really work with one company as a single-window process partner rather rather than working with us, 200 Distributors. “
Medikabazaar Compets with Large Manufacturers in Individual Segments Such as Medical Equipment Companies Wipro Ge HealthCare and Medtronic, as well as other b2b marketplaces madel and zoplar.
Medicabazaar has raised $ 165 million (About 1,380 Crore) Via Debt and Equity to Date. It was reportedly in talks to raise $ 150-200 million last year, which did not materialize after the Forensic Audit.
Lodha said that the company is not looking at raising funds currently and that it had a good cash flow in Q4.
“We are Continuing to be focused on Cash Flow,” He said. “Wherever the investment is required, I think the existing investors [are] Very bulish on the business… they are ready to fund it further. “