Bajaj Healthcare Ltd Directors Report.

To,

The Members

Bajaj Healthcare Limited

Your Directors have pleasure in presenting their 28th Board Report together with the Audited Financial Statements for the financial year ended 31st March, 2021.

FINANCIAL PERFORMANCE OF THE COMPANY:

(Rs. in lakhs)

Particulars Year Ended 31st March, 2021 Year Ended 31st March, 2020
Gross Income 66,389.64 41,654.13
Profit before Interest, Depreciation & Tax 14,323.98 5,463.28
Finance Charges 829.60 644.93
Provision for Depreciation 1,612.41 1,212.33
Profit before Tax 11,881.97 3,606.02
Less: Current Tax /Deferred Tax 3,571.07 1,082.35
Net Profit after Tax 8,310.89 2,523.67
Surplus carried to Balance Sheet 8,310.89 2,523.67
Earnings Per Share 60.23 16.31

The Companys Gross Revenue for the year increased to H66,389.64 lakhs as compared to last years H41,654.13 lakhs increased by 59.38% over the previous year, which includes the Domestic Turnover of H43,945.85 lakhs as compare to last years Domestic Turnover of H31,733.62 lakhs, and the Export Turnover of H21,752.53 lakhs as compared to last years export turnover of H9,267.22 lakhs.

The net profit after tax during the year amounted to H8,310.89 lakhs as compared to net Profit of H2,523.67 lakhs in the previous year increased by 229.32% over the previous year.

DIVIDEND:

The Board of Directors at their meeting held on 9th June, 2021, has recommended payment of H0.50/- (Fifty paise only) (5%) as Final dividend and H0.50/- (Fifty paise only) (5%) as Special dividend per equity share of the face value of H10/- (Rupees Ten only) each, aggregating to dividend of H1.00/- (Rupee One Only) (10%) per equity share for the financial year ended 31st March, 2021. The payment of Final dividend and Special divided are subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company.

During the year under review, the Board of Directors of the Company at their meeting held on 19th November, 2020, declared an Interim dividend of H1.25/- (Rupee One and Twenty Five Paise only) (12.50%) per equity share of the face value of H10/- (Rupees Ten only) each and Special Dividend of H0.50/- (Fifty paise only) (5%) per equity share of the face value of H10 (Rupees Ten only) each. The Interim dividend and Special dividend were paid to the shareholders on 11th December, 2020.

The Total dividend amount for the financial year 2020-21, including

the proposed Final dividend and Special dividend, amounts to H2.75/- (Rupees Two and Seventy five paise only) (27.50%) per equity share of the face value of H10/- (Rupees Ten only) each. Total dividend payout for the FY 2020-21 amounts to H3,79,47,800/- (Rupees Three Crores Seventy Nine lakhs Forty Seven Thousand Eight Hundred Only).

In view of the changes made under the Income-tax Act, 1961, by the Finance Act, 2020, dividends paid or distributed by the Company shall be taxable in the hands of the Shareholders. The Company shall, accordingly, make the payment of the final and special dividend after deduction of tax at source.

DEPOSITS:

The Company has not accepted any deposit from public during the year under review and as such, there are no outstanding deposits in terms of the Companies (Acceptance of Deposits) Rules, 2014.

CHANGE IN NATURE OF BUSINESS:

There are no changes in the nature of business of the Company.

ANNUAL RETURN:

The extract of Annual Return in form MGT-9 is provided asAnnexure - I to this Report and the Annual Return as required under subsection (3) of Section 92 of the Companies Act, 2013 (the Act) in form MGT-7 is made available on the website of the Company and can be accessed at "http://www.bajajhealth.com".

TRANSFER TO RESERVES IN TERMS OF SECTION 134 (3) (J) OF THE COMPANIES ACT, 2013:

The Company has not transferred any amount to General Reserves for the financial year 2020-2021.

TRANSFER OF UNPAID AND UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND ("IEPF")

Pursuant to the provisions of Section 124 of the Act and Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (IEPF Rules), the declared dividends, which remains unpaid or unclaimed for a period of 7 (seven) years from the date of its transfer to unpaid dividend account is required to be transferred by the Company to Investor Education and Protection Fund (IEPF). Details of unpaid dividend is a part of Report on Corporate Governance that forms part of this Annual Report.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THE FINANCIAL STATEMENT RELATES AND THE DATE OF THE REPORT:

The Board of Directors at their meeting held on 5th July, 2021 has approved the listing of 1,37,99,200 (One Crore Thirty Seven Lakh Ninety Nine Thousand Two Hundred) equity shares of H10/- (Rupees Ten) each of the Company on National Stock Exchange of India Limited (NSE).

INFORMATION ABOUT SUBSIDIARY/ JV/ ASSOCIATE COMPANY:

The Company has no Subsidiary, Joint venture or Associate Company.

SHARE CAPITAL:

There are no changes in Share Capital of the Company.

Buy Back of Securities/ Sweat Equity/ Employees Stock Option Plan

During the year under review, the Company has not bought back any of its securities nor issued any Sweat Equity Shares nor provided any Stock Option Scheme to the employees during the year under review.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The Board has an optimum combination of Executive and NonExecutive Independent Directors and is headed by an Executive Chairman, Mr. Sajankumar R. Bajaj. The Board of the Company is diverse in terms of qualification, competence, skills and expertise which enables it to ensure long term value creation for all the stakeholders.

Change in Composition Director retires by rotation:

In accordance with the provisions of Section 152 of the Act and the Articles of Association of the Company, Mr. Rupesh Nikam (DIN 07007815), an Executive Director is retiring by rotation at the ensuing Annual General Meeting (AGM) and is eligible for reappointment.

Appointment/Re-appointment of Directors

On the recommendation of the Nomination and Remuneration Committee, Shareholders of the Company at 27th Annual General Meeting appointed Mr. Luke B. Fernandez (DIN: 08188583) and Mrs. Kejal N. Shah (DIN: 08608399) as Non-executive Independent Directors of the Company for a term of 5 (five) years w.e.f. 30th June, 2020 and appointed Mr. Pakshal A. Jain (DIN: 08776385) as an Executive Director of the Company for a term of 3 (three) years w.e.f. 30th June, 2020.

Further, on the recommendation of the Nomination and Remuneration Committee, Shareholders of the Company at 27th Annual General Meeting re-appointed Mr. Hemant R. Karnik and Mr. Ram B. Banarse for the second term of five years as Independent Director of the Company w.e.f. 08th January, 2021 and 14th January, 2021 respectively. Also re-appointed Mr. Sajankumar Bajaj as Chairman and Managing Director, Mr. Anil Jain as Managing Director and Mr. Dhananjay Hatle, Ms. Namrata Bajaj & Mr. Rupesh Nikam as whole time director for a term of 3 (three) years w.e.f. 1st April, 2020.

Resignation of Director:

Mr. Vidyut Shah (DIN 02578165), Non-Executive Independent Director of the Company has resigned with effect from 12th June, 2020 from the directorship of the Company.

Key Managerial Personnel:

As on 31st March, 2021, Mr. Sajankumar Bajaj, Chairman & Managing Director; Mr. Rupesh Nikam, Whole-time Director & Chief Financial Officer and Mr. Aakashkumar Kesari, Company Secretary & Compliance Officer, are the Key Managerial Personnel of the Company.

Independent Director(s):

The Company has received necessary declarations from all Independent Directors of the Company under the provisions of section 149(7) of the Act, that they meet the criteria of independence as laid down in section 149 (6) of the Act and applicable provisions of the Listing Regulations. The terms and conditions of appointment of Independent Directors are disclosed on the website of the Company.

None of the Directors of the Company are disqualified for being appointed as Directors as specified in Section 164(2) of the Act and Rule 14(1) of the Companies (Appointment and Qualification of Directors) Rules, 2014.

As per the Companies (Appointment and Qualifications ofDirectors) Fifth Amendment Rules, 2019, all the Independent Directors of the Company have registered with the Indian Institute of Corporate Affairs for inclusion of their names in the comprehensive repository maintained by the Ministry of Corporate Affairs.

In the opinion of the Board, the Independent Directors of the Company fulfil the conditions specified under the Act and Listing Regulations and are independent of the management.

Number of Meetings of the Board:

During the year, 5 (five) Board Meetings were convened and held. The intervening gap between the meetings was within the period prescribed under the Act. The details of meetings of the Board are provided in the Report on Corporate Governance that forms part of this Annual Report.

Performance evaluation of the Board:

The formal annual evaluation has been done by the Board of its own performance and that of its Committees and Individual Directors on the basis of evaluation criteria specified in the Nomination and Remuneration policy of the Company.

The performance evaluation of the Chairman, non-independent Directors and Board as a whole was also carried out by the Independent Directors at their separate meeting held as on 29th January, 2021 inter alia to:

i. To evaluate the performance of non-independent directors and the Board as a whole;

ii. To evaluate performance of the Chairman and Managing Director of the Company; and

iii. To evaluate the quality, quantity and timelines of flow of information between the executive management and the Board.

The suggestions made at the meeting of the Independent Directors were communicated to the Board Chairman and the Executive Director for taking appropriate steps. All Independent Directors were present at the meeting. The Directors expressed their satisfaction with the evaluation process.

Committees of the Board

With a view to have a more focused attention on various facets of business and for better accountability, the Board has constituted a set of Committees in accordance with the requirements of the Act and Listing Regulations. The Board supervises the execution of its responsibilities by the Committees and is responsible for their action. The statutorily mandated Committees constituted under the provisions of the Act and Listing Regulations are Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility (CSR) Committee and Stakeholders Relationship Committee. The Composition of Audit Committee of the Company are Mr. Luke Fernandez as Chairman and Mr. Hemant Karnik & Mr. Rupesh Nikam as member.

A detailed note on the composition of the Committees, terms of reference and other such details of the audit committee along with other Committees are provided in the Report of Corporate Governance forming part of this Annual Report. During the year under review, the Board has accepted all the recommendation of Audit Committee and also of all other Committees of the Board.

FAMILIARIZATION PROGRAM FOR INDEPENDENT DIRECTORS

All Independent Directors are familiarized with the operations and functioning of the Company. The details of the training and familiarization program are provided in the Corporate Governance Report.

NOMINATION AND REMUNERATION POLICY

Pursuant to the provisions of Section 178 of the Act and Regulation

19 of Listing Regulations and on recommendation of the Nomination and Remuneration Committee, the Board of Directors has adopted a policy on Criteria for Selection and Appointment of Directors, Senior Management Personnel and their remuneration. Nomination and Remuneration policy is applicable to all Directors, Key Managerial Personnel (KMP), Senior Management team and other employees of the Company. The said policy has been annexed to this Report and marked as "Annexure-A" and is also available on the Companys website www.bajajhealth.com

VIGIL MECHANISM / WHISTLE BLOWER POLICY:

As per the provisions of Section 177(9) and (10) of the Act, the Company has adopted a Whistle Blower Policy for establishing vigil mechanism for the Employees and Directors to report to the Audit Committee Chairman, genuine concerns, unethical behavior and irregularities, if any noticed by them, in the Company which can adversely affects Companys operations. The same is reviewed by the Audit Committee from time to time. No concerns or irregularities have been reported by Employees/ Directors till date. The said policy is available on the Companys website www. bajajhealth.com

INSIDER TRADING CODE

The Company has adopted an Code of Conduct to regulate, monitor and report trading by designated persons in Listed or Proposed to be Listed Securities ("the Code") in accordance with the requirements of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations). This Code is displayed on the Companys website. The object of the PIT Regulations is to curb the practice of insider trading in the securities of a listed Company.

The Code is applicable to Promoters and Promoters Group, all Directors and such Designated Employees who are expected to have access to unpublished price sensitive information relating to the Company. The Company Secretary is the Compliance Officer for monitoring adherence to the said Regulations.

BUSINESS RESPONSIBILITY REPORTING

The Business Responsibility Report of the Company for the year ended 31st March, 2021, forms part of the Annual Report and marked as Annexure B and is also made available on the website of the Company at www.bajajhealth.com.

RISK MANAGEMENT:

Risk management is integral to your Companys strategy and for the achievement of our long-term goals. Our success as an organization depends on our ability to identify and leverage the opportunities while managing the risks.

The COVID-19 pandemic this year has posed several unprecedented challenges in the form of uncertain lockdowns, unlock phases, health hazards and supply chain disruptions across the globe. These have added a new dimension to the term volatile, uncertain, complex and ambiguous.

These changes and challenges have brought a mix of opportunities and uncertainties impacting the Companys objectives. Risk Management, which aims at managing the impact of these uncertainties, is an integral part of the Companys strategy setting process. The Company regularly identifies uncertainties and after assessing them, devises short-term and long-term actions to mitigate any risk which could materially impact your Companys long-term goals. This process of identifying and assessing the risks is a two-way process. Inputs are taken, both bottom up and top down while finalizing the risk treatment plans.

Our approach to risk management is designed to provide reasonable assurance that our assets are safeguarded, the risks facing the business are being assessed and mitigated and all information that may be required to be disclosed is reported to Companys Senior Management including, where appropriate, the Chairman & Managing Director, the Chief Financial Officer, the Audit Committee and the Board.

Mitigation plans to significant risks are well integrated with functional and business plans and are reviewed on a regular basis by the Senior Managements.

STATEMENT IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS:

Adequate internal control system commensurate with the nature of the Companys business and size and complexity of its operations are in place and have been operating satisfactorily. Internal Control systems comprising of policies and procedure are designed to ensure reliability of financial reporting, timely feedback on achievement of operational and strategic goals, compliance with policies, procedure, applicable laws and regulations and that all assets and resources are acquired economically, used efficiently and adequate protected.

AUDITORS AND AUDITORS REPORT

Statutory Auditors:

M/s. Chaturvedi & Agrawal, Chartered Accountants (Firm Registration No.101717W) were appointed as Statutory Auditors of the Company at the 27th AGM till conclusion of 32nd Annual General Meeting

M/s. Chaturvedi & Agrawal have confirmed their eligibility and qualification required under Section 139,141 and other applicable provisions of the Companies Act, 2013 and Rules framed thereunder (including any statutory modification (s) or re-enactment (s) thereof for the time being in force).

The Auditors report for the financial year ended 31st March, 2021, on financial statements of the Company forms a part of this Annual Report. The Auditors Report for the financial year ended 31st March, 2021 does not contain any qualification, reservation or adverse remark.

Cost Auditors:

As per Section 148 of the Act read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the cost audit records maintained by the Company in respect of its Drugs & Pharmaceuticals business is required to be audited by a Cost Accountant in practice. In this connection, the Board of Directors of the Company has on the recommendation of the Audit Committee, approved the appointment of M/s V. J. Talati & Co. Cost Accountant, as the Cost Auditors of the Company for the year ending 31st March, 2022. M/s V. J. Talati & Co have vast experience in the field of cost audit.

The Company has received consent from M/s V. J. Talati & Co. Cost Accountant, to act as the Cost Auditor for conducting audit of the cost records for the financial year 2021-22.

In accordance with the provisions of Section 148(3) of the Act read with Rule 14 of the Companies (Audit and Auditors) Rules, 2014, the remuneration proposed to be paid to the Cost Auditor, subject to ratification by the members of the Company at the ensuing 28th AGM, would not exceed H3.00 lakhs (Rupees Three lakhs only) excluding taxes and out of pocket expenses, if any.

Internal Auditors:

The Board of Directors of the Company have appointed M/s. Paresh Rakesh & Associates, Chartered Accountants (FRN 119728W) as Internal Auditors of the Company for the financial Year 2021-22.

The Internal Auditor submits their reports to the Audit Committee on periodic basis. Based on the report of Internal Audit, the management undertakes corrective action in their respective areas and thereby strengthens the controls.

Secretarial Auditor:

The Board of Directors of the Company have appointed Mr. Haresh Sanghvi, Practicing Company Secretary (M No. 2259/CoP: 3675), as the Secretarial Auditor to conduct an audit of the secretarial records for the financial year 2021-22. The Company has received consent from Haresh Sanghvi to act as the secretarial auditor for conducting audit of the secretarial records for the financial year ending 31st March, 2022.

The Secretarial Audit Report for the financial year ended 31st March, 2021, issued by Mr. Haresh Sanghvi is enclosed with this report and marked as Annexure -II.

The Secretarial Compliance Report for the financial year ended 31st March, 2021, issued by Mr. Haresh Sanghvi, in relation to compliance of all applicable SEBI Regulations/circulars/guidelines issued thereunder, pursuant to requirement of Regulation 24A of the Listing Regulations, Sanghvi is enclosed with this report and marked as Annexure-III. The Secretarial Compliance Report has been voluntarily disclosed as part of Annual Report as good disclosure practice.

The Secretarial Audit Report and Secretarial Compliance Report does not contain any qualification, reservation or adverse remark.

Reporting of fraud by Auditors

There was no instance of fraud during the year under review, which required the Statutory Auditors, Internal Auditor, Cost Auditor or/and the Secretarial Auditor to report to the Audit Committee and/or the Board under Section 143(12) of Act and Rules framed thereunder.

COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has complied with the applicable mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.

GENERAL DISCLOSURES:

Related Party Transactions:

All transactions entered into with related parties as defined under the Companies Act, 2013 during the financial year were in the ordinary course of business and on an arms length pricing basis and do not attract the provisions of Section 188 of the Act. There were no materially significant transactions with the related parties during the financial year which were in conflict with the interest of the Company and hence, enclosing of Form AOC-2 is not required. Suitable disclosure as required by the Accounting Standard (AS 18) has been made in the notes to the Financial Statements.

Particulars of Loans, Guarantee and Investments:

Details of loans, guarantees and investments under the provisions of Section 186 of the Act read with the Companies (Meetings of Board and its Powers) Rules, 2014, as on 31st March, 2021, have been disclosed in the Financial Statements of the Company.

Cash Flow Analysis:

The cash flow statement for the year ended 31st March, 2021 is annexed with the financial statements.

Particulars of Employees:

Information required in accordance with Section 197 (12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are forming part of the Boards Report for the year ended 31st March, 2021 is annexed and marked as Annexure IV to Boards Report. Further, the information pertaining to Rule 5(2) & 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, pertaining to the names and other particulars of employees is available for inspection at the Registered office of the Company during business hours and pursuant to the second proviso to Section 136(1) of the Act, the Report and the accounts are being sent to the members excluding this. Any shareholder interested in obtaining a copy of the same may write to the Company Secretary/ Compliance Officer either at the Registered Office address or by email to investors@bajajhealth.com.

Disclosure under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:

The Company has always believed in providing a safe and harassment free workplace for every individual working in the Companys premises through various practices and always endeavors to provide an environment that is free from discrimination. All employees are treated with dignity with a view to maintain a work environment free of sexual harassment whether physical, verbal or psychological. The Company has in place, policy on Prevention, Prohibition and Redressal of Sexual Harassment for women at workplace in accordance with the requirements of

Sexual Harassment of women at workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Complaints Committee (ICC) has been setup as per the statutory requirements, to redress complaints regarding sexual harassment.

During the year 2020-21, ICC did not receive complaints of sexual harassment from any employees.

Significant and Material Orders passed by the Regulators or Courts or Tribunals:

There are no significant and material orders passed by the Regulators/Courts that would impact the going concern status of the Company and its future operations.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis for the year under review is provided as separate section forming part of this Annual Report.

CORPORATE GOVERNANCE

Report on Corporate Governance and Certificate of the Auditors of the Company regarding compliance of the conditions of Corporate Governance as stipulated in Part C of Schedule V of the Listing Regulations, are provided in a separate section forming part of this Annual Report.

DIRECTORS RESPONSIBILITY STATEMENT:

The Board of Directors acknowledge the responsibility for ensuring compliance with the provisions of Section 134(3)(c) read with Section 134(5) of the Act, in the preparation of annual accounts for the year ended on 31st March, 2021 and confirm that:

a. in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b. the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

c. the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. the directors had prepared the annual accounts on a going concern basis;

e. the directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f. the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

CORPORATE SOCIAL RESPONSIBILITY

As a part of its initiative under the "Corporate Social Responsibility" (CSR) drive, the Company has undertaken projects in the area of rural development and education. These projects are in accordance with Schedule V of the Act and the Companys CSR policy. The Report on CSR activities as required under the Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed and marked as Annexure -V which forms an integral part of this Report.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, RESEARCH & DEVELOPMENT AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated. Under section 134(3) (m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014, are as follows:

I. Conservation of Energy:

Steps taken on Energy Conservation -

Many steps towards energy conservation has taken & implemented successfully.

a. Commissioned low pressure steam turbine. This works on back pressure of steam boiler & generates electrical power of 100 KW/HR.

b. I nstalled Solar Panels of capacity of 700 KW in vacant land of factory premises.

c. To prevent heat loss replaced old insulation of reactors and cold well of brine storage tank.

d. Installed softener plant capacity of 10 M3/HR to improve cooling water quality and efficient running of chilling plant. This prevents scaling & ensure better heat transfer & saves energy.

e. Installed DM plant to improve boiler feed water quality and run efficient. This saves scaling in tubes & enhances life of boiler tubes.

f. Replaced the condenser of Brine Plant 2 by higher capacity to run machine efficient.

g. Replaced steam trap by float type. This controls live steam wastage & helps improving steam savings.

II. Technology Absorption:

a. Cooling tower blades replaced by new designed FRP Pumps.

b. For distillation column, old structured packing replaced with new one.

c. Mercury vapour lamps replaced by LED Lamps.

III. Research & Development:

a. R&D Laboratory of Bajaj Healthcare Limited is already approved by DSIR (Department of Scientific and Industrial Research), India.

b. We added efficient fume-hoods, sophisticated equipment and facilities for carrying out synthetic research and scale-up activities to develop new process technology for APIs under safe conditions.

c. R&D works on different generic molecules are under process. Some of products have been commercialised at plant scale using environment friendly routes.

d. With the regular progression in the business, our company intends to emphasise on further expansion of R&D facilities for development of technologically advanced, asymmetric active pharmaceutical ingredients.

e. To achieve highest level of challenges of R&D activities, Bajaj Healthcare Limited has developed a talented pool of scientists including organic/analytical chemists provide support to our R&D through documentation and validation of test results as per ICH guidelines and assist the regulatory affairs to prepare high quality technical packages and drug master files.

h. The Company has obtained approval for In-house R & D Facility from the Department of Scientific and Industrial Research (DSIR) vide letter No. TU/IV-RD/4031/2019 dated 01st May, 2019 for the purpose of section 35(2AB) of the Income Tax Act, 1961 valid till 31st March 2022 subject to the condition underline therein.

i. There under, the company has claimed a weighted deduction of 150% of the following expenditure incurred wholly and exclusively for the Research & Development Activity so approved.

(Rs. In lakhs)

Nature of Expenditure 2020-21 2019-20
Revenue Expenditure:
Salary Expenses of R&D Personnel 89.78 68.00
R & D Chemical Purchase 328.64 117.06
Stores & Spares & Consumables in R & D - 6.01
Travelling & Other Exp. 0.98 1.04
Common Utilities Expenses 33.82 30.85
Capital Expenditure:
Laboratory Equipment 3.53 18.03
TOTAL 456.74 241.00

IV. Foreign Exchange Earning and Outgo:

Earnings:

Foreign Currency inflow amounting to H21,789.77 lakhs Outgo:

Foreign Currency outgo amounting to H21,161.57 lakhs

ENVIRONMENT AND POLLUTION CONTROL:

The Company is well aware of its responsibility towards a better and clean environment. Our efforts in environment management go well beyond mere compliance with statutory requirements.

The Company has always maintained harmony with nature by adopting eco-friendly technologies and upgrading the same from time to time incidental to its growth programs.

STATUTORY COMPLIANCES

The Company has complied with all the statutory requirements. A declaration regarding compliance of the provisions of the various statutes is also made by the Chief Financial Officer at each Board Meeting. The Company ensures compliance of the ROC, SEBI Regulations and various statutory authorities.

ACKNOWLEDGEMENTS:

Your Directors express their gratitude to various Central and State Government Departments, Organizations and Agencies for their continued help and co-operation extended by them. The Directors also gratefully acknowledge all stakeholders of the Company viz. customers, members, dealers, vendors, banks, and other business associates for the excellent support received from them during the year. The Board also wishes to express its gratitude and record its sincere appreciation for the commitment and dedicated efforts put in by all the employees more particularly ensuring business as usual in spite of COVID-2019 impact.

The Directors express their special thanks to Mr. Sajankumar Bajaj, Chairman & Managing Director for his untiring efforts for the progress of the Company.

For and on behalf of the Board of Directors of Bajaj Healthcare Limited
Sd/-
Sajankumar Bajaj
Date: 03/08/2021 Chairman and Managing Director
Place: Thane DIN:00225950