Mumbai, 15th October 2024 – Lord’s Mark Industries, a diversified business group demonstrated strong financial growth, registering a healthy revenue uptick of 40.41% in FY24. The company’s revenue from operations increased to INR 422.24 crores in FY2024 from INR 301.08 crores in FY2023, underlining a sustained momentum in a competitive market scenario. The company is set to get listed in December 2024.
This consistent revenue growth is in line with the Group’s strategic vision to scale up operations in a cost-efficient manner.
In tandem with its revenue performance, Lord’s Mark Industries posted an impressive 106.13% rise in Profit After Tax (PAT) in FY24.
Speaking on the company’s strong financial performance, Mr. Sachidanand Upadhyay, Managing Director, Lord’s Mark Industries Ltd., said “Our remarkable financial performance in FY24 is a testament to our strategic investments and expansion initiatives. Several factors contributed to this success. Across our associated companies—Lord’s Automative, Lord’s Mark Biotech, and Lord’s Mark Microbiotech—we pursued aggressive expansion in both existing and emerging markets, including metros and tier 2 and 3 cities. Lord’s Automative introduced EVs, while our medtech sector launched advanced genome testing kits and E-Smart Clinics; tapping into the growing awareness of electric vehicle adoption and preventive healthcare. These trends have significantly enhanced our earning visibility. The robust growth in revenue and profit margins reflects our focus on process optimization, scaling efficiently, and maintaining stringent cost controls. We are confident that this momentum will drive continued innovation and market expansion, positioning us for sustained growth in FY25 and beyond.”
Lord’s Mark Industries has been strategically investing in its subsidiaries to drive the development of cutting-edge medtech products, the production of innovative diagnostic solutions, and the expansion of its pathology lab network across India. Additionally, the company plans to scale up the export of its medical diagnostic products and equipment.
Incorporated in 1998, Lord’s Mark Industries began its journey from paper industry to innovative Solar/LED, Healthcare, Automotive, and Innovative MedTech sectors. Lord’s Mark Industries is one of the industry leaders to have its own world class R&D facility and team for manufacturing medical diagnostic and medtech products.
The company through its subsidiary has launched saliva-based technology for genome testing through its brand MyDNA. It has collaborated with Dozee, IIT Bombay, BARC and made them its R&D partners to redesign medical infrastructure in India.
Lord’s Mark Industries’ major business units, such as the Diagnostic-Medtech and innovative Solar-LED divisions, have been breaking new ground with a focus on innovation and a solution-oriented approach. Additionally, subsidiaries like Lord’s Automative, Lord’s Mark Biotech, Lord’s Mark Microbiotech, and Lord’s Mark Insurance Broking Services are strengthening their market presence. The upcoming listing will fuel growth, supporting the company’s efforts to expand its footprint and maintain its growth trajectory.
