Acculi Labs Pvt Ltd FY21-22 for Public Presentation
Acculi Labs Pvt Ltd FY21-22 for Public Presentation
(You saw it right, it is FY21-22, and we finally, eventually, thankfully completed it).
A. Delay
1. We have several cash transactions as we offer healthcare through camps and our low-cost Bardhan clinics to the poor at ?10-?100.
2. Auditing has always been a "best-case scenario" for us.
3. A hole left unchecked keeps sinking a ship.
4. There was zero accountability amongst employees as calculating manhours vs salary was non-existent.
5. We are primarily a technology company and no asset evaluations are ever being done in the past.
B. Decision
6. I could let "chal raha hai, chalne do", or could build systems to evaluate every second, piece of code, prescription, and report to get into the audit funnel.
7. So, from "juggad startup" to structure, took a year. It is better to take measures to clean the home when it is dirty, rather than continue to jugaad till a point of collapse.
8. We are funded by common middle class trustworthy simple people's money, who doesn't deserve to be cheated or lied to in anywhich way anymore.
So, it this pain to accept the penalty and structure the data, systems, processes, assets, measurements, accountability, and each penny, rather than file a jugaad financial. I wanted to build a mechanism that collects data across all the banks, geocodes all the Lyfas tests, camps, every second's log of the employees, every transaction, every cost that we paid to vendors, and how much we paid to the vendors, traffic, code, documents everything without any manual intervention.
I am happy that the pain we took for the last financial years to not succumb to the pressure of "Financials Filled" and rather take a decision of "delay is better than fake and jugaad"
C. Financials FY21-22 Highlights
1. Increase in Digital Assets(Book, eBook, Subscribers, Educational Videos, Blogs, Graphics and Illustration Video Assets, Scientific Publications) from??10.72L to??61.32L(a 500% increase in our assets).
2. We have reduced our short-term liabilities by more than 100% from the Financial year 2020-2021 from??59.95L to??24.95L.
3. We have increased our capital pool through long-term borrowing through a special convertible debenture innovated by us, namely PAIO, through which 117 investors have invested a total sum of??1,15 Crore, to be converted to equity before the next financial year(F2023-2024).
4. We have also increased our revenue from FY20-21 from???12.25L to??15.75L( an increase of 28%).?
5. From a??10.2 spending per??1 Earning in FY20-21, we have significantly improved our earning ratio in FY21-22, which now stands at a spending of only??3.96 per??1 earning. This milestone has been achieved by changing the company from a Manpower-heavy company to an asset-light, B2B-based business model where 90% of our employees are the software that we have built in-house.
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6. "Other revenues" include consultancy, research assistance, software licensing, medical services such as software development, patient-care outsources, patient-data encryption, and so on.
6. We have reduced our losses by 61% from -?1.19 Crore in FY20-21 to -?46.43L in FY21-22.?
7. We have also reduced loss/equity from -?972 in FY20-21 to -?345 in FY21-22.
D. Note on the Strategic Change Leading to Our Financial Uplifting
Overall, the entire team has put up relentless work throughout this time to turn the company into a profitable company which in healthcare is a huge challenge and a long-term play due to the interplay of Science-Technology-Humans-Social Dynamics-Geo Political changes.?
It is you our valued shareholders who have stood by us, believed in us, and kept faith in us, that has made us stay inspired all throughout these years to build one of the best digital healthcare companies of the 21st Century.
Unlike many unfortunate companies that suffer a deviation from their mission due to constant pressure from their investors and shareholders, all of you have supported the company in what I consider one of the most challenging phases of any business.?
And therefore, our financials would be incomplete without offering?heartful thanks and gratitude for what would possibly be known in history as one of the most phenomenal efforts by a small group of investors to try to build a healthcare infrastructure for the world that is affordable, accurate, available, and that addresses human health up to 19th-dimensional depth, unlike current standards of Vitals+Pathology+History+Physiology+Lifestyle+Genomics of mere 6th depth-dimensional system.
E. Invitation to Participate in Our Financial Presentation on 13th Feb, 2023
On 13th February 2023, the auditor, the board, and the team will present its financials before the shareholders. In a change of policy, we have decided to telecast the event live for anyone who is interested in our presentation and wants to know more about the company.
A company or an entity is for the people, by the people, to the people, and established to serve the people. Whether it is a listed company or not, it is a public company. No entity must have any "secrets" and secrets harm the entity more than anyone else. Anything that is so-called private is not in place. Anything that is not in place today will sink the company tomorrow.
Hence I, the CEO of the company cordially invite you all to join our one-hour of presentation, followed by one hour of question-answer at 1000 Hours IST, on 13th February 2023.
You may please join the event by clicking on the?link below.
F. Check the Detailed Financials
Please find the link to our financials FY21-22, and other data through our public data room.
G. Invitation to Invest in Acculi Labs through Equity with just ?12,710
If you do believe in our vision, mission, uncompromising ethics, our constant research, and innovation, our commitment to outcome-driven healthcare, and support our "No-commission Healthcare" and want to build transparent healthcare with a belief that people entrusted with lives must not be thriving on commission and cuts, and one who is part of the commission and cuts can't care for the health and life, then invest in us today. The subscription form is present in the link above.
Conclusion
We can either complain and condemn a system, hoping against the hope for a change or take an initiative to build systems that are 1000x better than the jugaad and cut system of today. Drawing a huge straight line in front of another curved line makes the curved line tiny, and it need not be protested or erased. Broken systems are to be made irrelevant through innovation and technology. Our FY22-23 will be miles ahead of any audit report ever published by any company in history. The last financial year's process was just a stepping stone toward the future.
Finally, I thank you all for being there with us, and giving us a purpose to live.