Tuljai Labpoint Private Limited

In their own words

Tuljai Labpoint Pvt. Ltd. Promoted by first generation entrepreneur, Mr. Prafulla Bidkar, Tuljai Labpoint Pvt. Ltd. is an emerging supplier of diagnostic systems and reagents. Founded in June 2017, the firm has showcased significant growth on account of its ability to provide end to end solutions. Being a complete solution provider, Tuljai Labpoints has been playing instrumental role in setting up of laboratories from inception levels and then eventually taking them to specialty products segment. With specialty services ranging in Biochemistry, Hematology and Immunoassay segment, Tuljai Labpoints has created its own niche market is geographies like Vidarbha, Mumbai, Pune and few parts of Madhya Pradesh. Let’s first understand the business model. Understanding the Business While on superficial levels the business looks like a plain vanilla – trading of diagnostic equipment, one needs to understand the different revenue model opted by Tuljai Labpoints. While most of its peer group focuses on outright sales and to some extent annual maintenance contracts (AMC) or after sales services, Tuljai Labpoints has an extended revenue stream from Reagents. In simple words – reagents are the ingredients (Consumables) that are required on regular basis for conducting tests. Just to put it in a perspective – If a Diagnostic equipment cost of sales is Rs 100, the Reagents provided for the same equipment generate opportunities worth 2x the machine cost every year. One major advantage of such a revenue model is – consistent cash flow generation from orders. As the rolling of capital happens with a quicker payment cycle. In addition to this, what differentiates Tuljai Labpoints from its peers is – leasing of diagnostic equipment model. In a scenario when there is scarcity of capital and limited Capex is seen in the Pathology Laboratory sector – instruments like leasing of equipment plays an essential part. In this model, the equipment (Specific Speciality Segment) is provided on lease along with a minimum guaranteed take-off for reagents (on monthly / Quarterly/ yearly basis). Here it is a win-win situation for both lab owners and Tuljai – As Lab owners gets access to specialty segment with minimum capex and Tuljai Labpoints gets consistent order flow for higher margin products like Reagents. In this model- the ownership of the equipment stays with Tuljai Labpoints and after a specified time frame (As mentioned in respective agreements) the equipment is transferred to the Lab owners. Tuljai Labpoints also provides consultancy for Laboratories, hospitals and clinics who want to get accredited from NABH and NABL. NABH is National Accreditation Board for Hospitals & Healthcare Providers. NABH is a constituent board of Quality Council of India, set up to establish and operate accreditation programme for healthcare organizations. National Accreditation Board for Testing and Calibration Laboratories (NABL) is an autonomous body under the Department of Science & Technology (DST), Government of India. The objective of NABL is to provide third-party assessment of the quality and technical competence of testing and calibration laboratories. With the services like accreditation, inception and helping the laboratories enter the specialty segments – Tuljai Labpoints stands out as an end to end solution provider. All in all, Outright Sales and Leasing of equipment – both segments are expected provide better growth opportunities to Tuljai Labpoints in the Indian diagnostic equipment market which was valued at Rs 33,862 crore in 2017, and is expected to reach Rs 79429 Crore by the end of 2023, expanding at a compound annual growth rate (CAGR) of around 15.50 percent during the 2018-2023 period. Just to put the kind of size it has as compared to other countries, India stands among the top 20 global medical devices market. Key Growth Drivers of Diagnostic Equipment Market: The central government of India, as well as several private organizations have taken initiatives to improve the condition of public health within the country. Such participation from the public and private enterprises have resulted in the growth of the healthcare sector, thereby leading the medical devices market in India to prosper. Secondly, the Indian government has allowed 100 percent foreign direct investment (FDI) in the medical devices industry. Inflow of FDI is expected to spur research and development (R&D) activities and manufacturing innovations, which in turn can help in driving the growth of the medical devices market in India. Strong Clientele and Order Book With inroads already know for the list of more than 2250 clients, till date it has monetised only 2 percent of its clients. Reason being, the management took a conscious call to enter fewer geographies in initial days. Further, consistent demand has been created by these 50 clients – and with few capital constraints to invest in more inventory, it was decided to c

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