To The Members
NOIDA MEDICARE CENTRE LTD.
Your Directors have pleasure in presenting the Twenty Fourth Annual Report togetherwith Audited Statement of Accounts for the year ended 31st March 2013.
Rs in Lacs
| ||Current Year ||Previous Year |
| ||(2012-2013) ||(2011-2012) |
|Income ||6181.51 ||5849.19 |
|Other Income ||20.65 ||55.33 |
|Profit before interest & depreciation & taxation ||1647.76 ||1595.73 |
|Interest ||298.39 ||248.36 |
|Depreciation ||916.98 ||890.06 |
|Profit Before Tax ||432.39 ||457.31 |
|Provision for tax/fringe benefits ||144.14 ||123.49 |
|Profit after tax ||288.25 ||333.82 |
The financial year 2012-13 witnessed marginal growth in income of the company. Duringthe year under report, the company has recorded turnover of Rs. 6181.51 Lacs as comparedto turnover of Rs. 5849.19 Lacs for the previous year ended 31st March 2012. During theyear under review, profit before interest, depreciation and taxation was Rs 1647.76 Lacsas compared to Rs. 1595.73 Lacs in the previous year ended 31st March 2012. The companyearned net profit of Rs. 288.25 Lacs in the current year as compared to the net profit ofRs. 333.82 Lacs in the previous year ended 31st March 2012.
All departments of the hospital have been operating satisfactorily and are poised forfuture expansion and modernization following requisite financial inputs. Your hospital,despite the stiff competition and challenges from the large multinational corporatehospitals, which have recently been established in the region, has been able to maintainits edge, due to its long built goodwill and established clientele base. In addition, yourhospital, to maintain its image and reputation of providing quality and excellenthealthcare services with a humane touch, has been constantly upgrading its existingmedical facilities at the centre.
During the year under report, your company has taken major upgradation programme forits Hospital at Noida and recently setup NMC Superspeciality Centre at Vimhans, New Delhi.
NMC Hospital, Noida
The company in order to implement the guidelines of National Accreditation Board forHospitals and Healthcare Providers (NABH) has undertaken major changes / upgradationprogramme :
Civil works of gigantic proportions have been carried out to accommodateadditional bed strength vis--vis redesigning of various rooms at different floors of thehospital. This included complete breakdown of the rooms and recreation of new rooms,lobby, Nursing Stations etc. as per the specifications laid down by NABH.
Anew Isolation block has been created to accommodate the patients required to beIsolated especially for their medical treatment for communicable diseases.
Redesigning and restructuring of Paediatric & Neonatal Intensive Care Unit.
Operation Theaters have been re-engineered and restructured with completemodular S S finishing and latest Hepa filter air-conditioning systems.
The old ICU/ICCU block has been completely modernized with latest monitors, lifesupport systems etc.
The complete furniture and fixture required for patient rooms has been replacedwith most modern hydraulic patient beds, sofa-cum-beds, crash cart, bed side lockers etc.
NMC Superspeciality Centre, Vimhans New Delhi
The company in pursuance to Memorandum of Understanding (MOU) with Vimhans Hospital hassetup 33 Bedded NMC Superspeciality Centre to accommodate three major specialities vizNephrology, Cardiology & Gastroenterology.
A state-of-the-art fully equipped Intensive Care Unit, Nephrology wing with dialysismachines, patient waiting lobby, Nursing Station, Medical/General Store, Duty Doctor'sRoom, Pantry, Toilet Complex and Rooms of various categories viz VIP suites, Super DeluxeSuites, Single Rooms, Double Rooms and Economy ward has been created on the second floorof Vimhans Hospital.
In addition entire ground floor has been redesigned, restructured and renovated.Provisions have been made for Doctor's OPD Chambers, TMT Room, Ultrasound/ Echo Room,Laboratory Sample Collection Room, Toilets. An ultramodern Reception equipped withComputer System with TPA Desk alongwith large patient waiting lobby with LCD systems etchas been created. The faade on the entrance of to the Superspeciality Centre is beingcreated with allobond sheets and glass to provide unmatched and rich exteriors All therooms have been provided with most modern furniture and fixture, LCD system, airconditioning etc
Your company in order to leverage the operations and robust growth opportunities isplanning to make strategic interest / acquisition in pharmaceutical sector.
The company has not invited any deposit from the public.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956, your Directors confirm that:
1 In the preparation of the annual accounts for the accounting year ended 31st March2013, the applicable accounting standards issued by Institute of Chartered Accountants ofIndia and the requirements of Companies Act, 1956 have been followed;
2 Appropriate accounting policies have been selected and applied consistently andjudgements and estimates that are reasonable and prudent have been made so as to give atrue and fair view of the state of affairs of the company at the end of financial year andof the profit of the Company for that year.
3 Proper and sufficient care has been taken for the maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act, 1956, for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;
4 The annual accounts have been prepared on a going concern basis.
Your company continues to place greater emphasis on managing its affairs withdiligence, transparency, responsibility and accountability. It is the endeavor of thecompany to implement these values to attain excellency in all the fields directly orindirectly related to the company. The company has implemented the conditions of CorporateGovernance as stipulated in clause 49 of the Listing Agreement with Stock Exchanges duringthe year ended 31st March 2013. A report on Corporate Governance alongwith a certificateof compliance from the Auditors' of the company is annexed and forms part of this report.
We regret to inform with deep grief and sorrow the sudden demise of Mr. C. P. Chhabra ,director of the Company on 29th May 2013. Mr. Chhabra's initiative, integrity and humanitywere unsurpassed and all the Board members pledged to strive hard to continue to meet thestandards of healthcare excellence that Mr. Chhabra set throughout under his longdistinguished tenure at NMC.
In accordance with Articles of Association of the company, Mr. Vikram Prakash and Mr.Dhirendra Singh Director(s) retire by rotation at the ensuing Annual General Meeting andbeing eligible, offer themselves for re-appointment.
The Equity Shares of your company are listed with Delhi Stock Exchange AssociationLtd., Bombay Stock Exchange Ltd., The U.P. Stock Exchange Association Ltd.. Your companyhas paid Listing Fees for the year 2013-2014 to all the three Stock Exchange(s).
CONSERVTION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUT GO.
A. CONSERVATION OF ENERGY
The conservation of energy continues to be one of the important objectives of thecompany. Your company assigns top most priority to various techniques of consumptions ofenergy at all levels of operations.
optimizing the usage ofAHU's to avoid idle running
phasing out of mercury lamps with CFLLamps.
plant maintenance on a regular basis.
training programmes for creating awareness about conservation of energy andnatural resources are also being done on a regular basis for employees.
B. TECHNOLOGY ABSORPTION
The company focuses and strives hard to continuously upgrade the technology to deliverquality healthcare of international standards without, however resorting to any imports.
C. FOREIGN EXCHANGE EARNINGS AND OUTGO
There was inflow of foreign exchange to the tune of Rs. 46.00 lacs (previous year Rs.70.84 lacs) and outflow of Rs. 22.88 lacs (previous year Rs. 25.08 lacs) in the currentyear under review.
N.K. Duggal & Co., Chartered Accountants, the Statutory Auditors of your Companyretire at the conclusion of the forthcoming Annual General Meeting and being eligibleoffer themselves for re-appointment. The statutory auditors have furnished a certificaterequired under section 224(1-B) of the Companies Act, 1956 to the effect that theirre-appointment, if made, would be in conformity with the limits specified in that section.
The Notes forming part of the Accounts, being self-explanatory, the comments made bythe Auditors in their report are not being dealt separately.
PARTICULARS OF EMPLOYEES
The Particulars of employees as per Section 217(2A) of the Companies (particulars ofemployees) Rules, 1975 are annexed and form part of this report.
CORPORATE SOCIAL RESPONSIBILITY
Your hospital always has a deep sense of responsibility towards the community and takesits social commitment vary seriously. During the year under report, your hospital hasorganized many free health check-up camps of varied medical disciplines at the hospitalpremises and also at the premises of public/private sector corporations. Besides yourhospital has been providing subsidized / free medical services to the under privilegedsection of the society.
During the year under review, your Hospital at Noida has been empanelled by EmployeeState Insurance (ESI) and Ex-Serviceman Contributory Heath Scheme (ECHS). The ECHSempanelment benefits have been extended to the beneficiaries residing under areas ofAmbala Cantt, Airforce Station HQ Faridabad, Hindon, ECHS Polyclinic Gurgaon, Lodi Road,Delhi Cantt.
During the year under review your company has been rated by CRISIL as subsidiarycompany of Standard & Poor a world renowned rating agency as "SME 1" whichrepresents highest rating under SME category.
During the year under review, your company continued to be ISO 9001:2008 certifiedcompany by URS Certification Ltd., UK.
During the year under review the pathology laboratory at NMC Hospital, Noida and atVimhans Hospital, New Delhi have been accredited by National Accreditation Board forTesting and Calibration Laboratories (NABL) representing maintaining highest standards ofpathological investigational reporting.
Your Hospital at Noida has applied for National Accreditation Board for Hospitals &Healthcare Providers (NABH) Accreditation and has submitted the relevant tool kit. TheNABH pre assessment is awated. Aregular training is being imparted to the employees of thehospital at all levels.
Your Directors wish to thank and deeply acknowledge the cooperation, assistance andsupport extended by Kotak Mahindra Bank Ltd. and Dhanlaxmi Bank Ltd. Your Directors alsowish to place on record their appreciation for the sincere and dedicated services renderedby the Consultant Doctors and Employees at all levels, and also thank the Private/PublicSector Corporation(s), Government Authorities, business associates for their continuedsupport and co-operation.
The Directors also take this opportunity to thank the fraternity of shareholders fortheir continued confidence & trust reposed in the company.
| ||For and on behalf of the Board |
|Date: May 30, 2013 ||DR. NAVEEN CHAUDHRI |
|Place: New Delhi ||CHAIRMAN & MANAGING DIRECTOR |