Dhanvantri Jeevan Rekha Ltd Directors Report

An overview!

Dhanvantri Jeevan Rekha Limited is more than a hospital it is a sanctuary of care, compassion, and cutting-edge medicine. Our mission is to provide every patient with world-class healthcare, delivered with empathy, respect, and unwavering dedication. We continually elevate our facilities and embrace the latest medical technologies, ensuring that every treatment reflects global standards of excellence.

From a broad spectrum of general specialties to advanced super-specialty services such as Cardiology, Gastroenterology, Neurology, Urology, Nephrology, Internal Medicine, Pulmonology and comprehensive diagnostic care, we strive to meet every medical need under one roof. At Dhanvantri Jeevan Rekha, we believe that exceptional healthcare is not just about treating illness its about nurturing trust, providing comfort, and empowering each patient to live their healthiest life.

Dear Members,

Directors have pleasure in presenting their thirty-third Report along with the Audited Financial Statements of the Company for the year ending March 31, 2026.

STANDALONE FINANCIAL RESULTS:

Highlights of Financial Results for the year are as below:

(Rs in lakhs except EPS)

S. No.	Financial Heads	Year ended 31.03.2026	Year ended 31.03.2025
1.	Operating Income	2585.84	2265.03
2.	Other Income	32.93	41.40
3.	Profit (Loss) Before Tax	40.00	55.59
4.	Tax Expense (Net)	0.92	4.97
5.	Profit/(Loss) after Tax	39.07	50.61
6.	Balance after taxation carried over to the Balance Sheet	38.45	65.73

OPERATIONS:

During the period under review, the Operating Income of the Company increased to Rs. 2585.84 Lakhs from Rs. 2265.03 Lakhs during the Financial Year 2024-2025, representing an increase of approximately 14.17%. Other Income stood at Rs. 32.93 Lakhs as against Rs. 41.40 Lakhs in the previous year. Profit before Tax stood at Rs. 40.00 Lakhs as against Rs. 55.59 Lakhs in the immediately preceding year, while Profit after Tax stood at Rs. 39.07 Lakhs as against Rs. 50.61 Lakhs in the previous year. The Company continues to conduct its operations in the healthcare sector, providing hospital and related medical services. The Company has reported no long-term borrowings secured in the financial statements audited for the year ended 31 March 2026.

ANNUAL RETURN

Pursuant to the provision of section 92(3) of the Companies Act,2013 and rule 12(1) of the Companies (Management and Administration) Rule,2014, the Annual Return of the Company is available on the website of the company at the link: https:// www.dhanvantrihospital.in

STATEMENT OF DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from all Independent Directors of the Company that they meet the criteria of independence as laid down under Section 149(6) of the Act and Regulation 16(1) (b) of the Listing Regulations. In the opinion of the Board, the Independent Directors fulfil the conditions of independence specified in Section 149(6) of the Act and Regulation 16(1) (b) of the Listing Regulations.

CORPORATE GOVERNANCE:

Company has a Paid-Up Share Capital of Rs. 415.36 Lakhs and net worth of Rs. 1051.56 Lakhs during the financial year ending 31.03.2026. Hence, Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable to the Company and Company is not required to report on Corporate Governance. However, Company has made every effort to comply with applicable corporate governance requirements and to ensure that the interests of shareholders and the Company are properly served.

EMPLOYEE STOCK OPTION SCHEME (ESOS):

During the year under review, the Company has not bought back any of its securities/ not issued any sweat equity shares / not provided any Stock Option Scheme to its employees / not issued any equity shares with differential rights.

MANAGEMENT DISCUSSION & ANALYSIS:

In terms of the provision of Regulation 34(2)(e) read with Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Management Discussion & Analysis Report, for the financial year under review, is presented in a separate section forming part of the Annual Report. This report is also annexed herewith as "Annexure-B".

DIVIDEND & RESERVES:

Keeping in view the insufficient profits and capital expenses to be incurred by the Company, the Board of Directors has decided not to recommend any dividends for the financial year ending March 31,2026.

Company did not have any funds lying unpaid or un-claimed for a period of 7(seven) years. Therefore, there were no funds which were required to be transferred to Investor Education Protection Fund (IEPF). Pursuant to the provisions of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017 (Revised Rules), the Company was not required to file any form with the Ministry of Corporate Affairs.

SHARE CAPITAL:

The paid-up equity share capital as on March 31, 2026, was Rs. 415.36 Lakh. During the year under review, the Company has neither issued shares with differential voting rights nor granted stock options and sweat equity.

SUBSIDIARY, ASSOCIATE AND JOINT VENTURES:

The Company does not have any Subsidiary, Associate or Joint Venture Company as of 31st March 2026.

MATERIAL CHANGES AND COMMITMENTS:

There have been no material changes and commitments affecting the financial position of the Company, which occurred between the end of the financial year to which the financial statements relate and the date of the report.

DIRECTORS RESPONSIBILITY STATEMENT:

To the best of their knowledge and belief and according to the information and explanations obtained by them, Directors make the following statements in terms of Section 134(3)(c) of the Companies Act, 2013:

a) In the preparation of the annual accounts for the financial year ending 31st March 2026, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) Such accounting policies as mentioned in notes to the annual financial statements have been selected and applied consistently and judgements and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31,2026, and profit of the Company for that period;

c) 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) Annual Financial Statements have been prepared on a going concern basis;

e) Proper internal financial controls were in place and that such internal financial controls were adequate and were operating effectively; and

f) Devised proper systems to ensure compliance with the provisions of all applicable laws and that such system was adequate and operating effectively.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The Composition of the Board during the year ended 31st March 2026 is as under:

Director	Number of Board Meetings held during 2025-2026		Whether Attended Last AGM
	Held	Attended
Board of Directors
Mrs. Shalini Sharma	12	12	YES
Mrs. Meenaakashi Elhence	12	12	YES
Mr. Premjit Singh Kashyap	12	12	YES
Mrs. Rowena Sharma	12	12	YES
Dr. Anil Elhence	12	12	YES
Mr. Tulsi Prasad Sharma	12	12	YES
Adv. Mohd Harris	12	12	YES
Mr. Amitabh Krishna Bhatia	12	12	YES
Mr. Ravi Karan	12	12	YES

During the year under review, no appointments, resignation, retirement or cessation of Directors happened. The current Board reflected in the supplied corporate information comprises the directors listed in the table above.

None of the Directors of Company are disqualified as per provisions of section 164(2) of the Companies Act, 2013. Directors have made necessary disclosures as required under various provisions of the Companies Act, 2013.During the year under review, the non-executive directors of the Company had no pecuniary relationship or transactions with the Company, other than the sitting/committee fees for attending Board/Committees Meetings of the Company.

Pursuant to provisions of section 203 of the Companies Act, 2013, the key managerial personnel of the Company are Mrs. Shalini Sharma, Managing Director, Mr. Bikram Singh, Chief Financial Officer and Mrs. Ritika Bhandari, Company Secretary and Compliance Officer of the Company.

NUMBER OF MEETING OF THE BOARD:

The meetings of the Board are scheduled at regular intervals to decide and discuss business performance, policies, strategies and other matters of significance. The schedule of the meetings is circulated in advance to ensure proper planning and effective participation in meetings. During the period under review, 12 (Twelve) Board Meeting were held and the gap between the two Meetings did not exceed the period prescribed under the Companies Act, 2013.Detailed information regarding the meetings of the Board and meetings of the Committees of the Board is included in the Report.

PERFORMANCE EVALUATION OF THE BOARD:

Pursuant to the provisions of the Companies Act, 2013 and Regulations 17 and 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, evaluation of every Directors performance was carried out by the Nomination and Remuneration Committee. The performance evaluation of Non-Independent Directors, their committees thereof and Chairman of the Company was carried out by the Independent Directors through a separate meeting of the Independent Directors held on 07.03.2026

Further, Schedule IV of the Companies Act, 2013 and Regulation 17(10) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 state that the performance evaluation of independent directors shall be done by the entire Board of Directors, excluding the director being evaluated.

The performance of the Board was evaluated by the board after seeking input from all the directors on the basis of factors which includes Active participation, financial literacy, Contribution by Director, Positive inputs, Effective deployment, Knowledge & expertise, Integrity and maintenance of confidentiality and independence of behavior and judgement. In the Meeting of Independent Directors, performance of Non-Independent Directors, Board and Performance of the Chairman were evaluated. The performance evaluation of Independent Director was carried out by the entire Board.

At the conclusion of the evaluation exercise, the members of the Board assessed that the board together with each of its committees was working effectively in performance of its key functions.

NOMINATION & REMUNERATION POLICY:

In accordance with the provisions of Section 134 (3)(e) and 178 of the Companies Act, 2013, the Nomination and Remuneration Committee shall identify persons, who are qualified to become directors and who may be appointed as Senior Management, recommend to the Board their appointment and removal and shall carry out evaluation of every Directors performance.

The Nomination and Remuneration Committee shall formulate the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy relating to the remuneration for the directors, key managerial personnel and other employees. As per the provisions, the meeting of the committee shall be held at such regular intervals as may be required but shall meet at least once a year. The Meetings of the Nomination and Remuneration Committee have been held on 30.05.2025, 07.03.2026 during the financial year 2025-2026

The Policy on Nomination & Remuneration as approved by the Board may be accessed on the Companys website www.dhanvantrihospital.in

INTERNAL FINANCIAL CONTROL:

The Company has put in place, an internal financial control system, within the meaning of the explanation to Section 134(5)(e) of the Companies Act, 2013 to ensure the orderly and efficient conduct of its business including adherence to Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors and proper recording of financial & operational information, compliance of various internal control and other regulatory/statutory compliances. All internal Audit findings and control systems are periodically reviewed by the Audit Committee, which provides strategic guidance on internal control.

During the year, such controls were tested and no reportable material weaknesses in the design or operation effectiveness were observed. Further, the testing of such controls was also carried out independently by the Internal Auditors for the financial year 2025-2026. In the opinion of the Board, the existing internal control framework is adequate and commensurate with the size and nature of the business of the Company.

AUDITORS AND AUDITORS REPORT:

Statutory Auditors

M/s Anuj Goyal & Co. Chartered Accountants (Registration No 80216) are the Statutory Auditor of the Company, who were appointed at the 29^th Annual General Meeting of the Company held on 28^th September 2022 for a period of five consecutive years, to hold office till the conclusion of the 34^th Annual General Meeting, at such remuneration as may be mutually agreed between the Board of Directors of the Company and Statutory Auditors.

Statutory Auditors Report

There is no observation or qualification or adverse remark made in the Auditors Report read together with relevant notes thereon.

SECRETARIAL AUDITORS AND REPORT Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed M/s. Sumit Bist & Associates, (FRN.22707), Practicing Company Secretaries to undertake the Secretarial Audit of the Company for the financial year 2026.The Report of the Secretarial Audit is annexed herewith as Annexure-A. The qualification, reservations or adverse remarks, if any made by M/s. Sumit Bist & Associates, Practicing Company Secretaries, Secretarial Auditor of the Company have been reported in their Secretarial Audit Report.

Secretarial Auditors Report

The observation in Secretarial Audit Report is self-explanatory and therefore do not call for any further explanation.

COST AUDITORS

The company is not required to appoint cost auditor as per Section 148 of the Companies Act, 2013.

COST RECORDS

The provisions of section 148(1) do not apply to the company; hence the Company is not required to maintain the cost records.

RISK MANAGEMENT:

The Company has designed a risk management policy and framework for risk identification, assessment, mitigation plan development and monitoring of action to mitigate the risks. The key objective of the policy is to provide a formalized framework to enable judicious allocation of resources on the critical areas which can adversely impact the Companys ability to achieve its objectives.

The processes and practices of risk management of the Company encompass risk identification, classification and evaluation. The Company identifies all strategic, operational and financial risks that the Company faces, by assessing and analyzing the latest trends in risk information available internally and externally and using the same to plan for risk management activities. The objective of Companys policy on risk is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. The policy establishes a structured and disciplined approach to risk management and guides decision making on risk related issues.

Pursuant to Regulation 21 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is not required to constitute a Risk Management Committee.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE:

No significant and material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and future operations of the Company.

CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES:

The provisions of Section 135 of the Companies Act, 2013 and Rules framed thereunder for Corporate Social Responsibility are not applicable to the Company.

CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

During F.Y. 2025-2026, the Company had related party transactions as disclosed in Note 23 to the financial statements audited. The audited financial statements disclose directors sitting fees, consultancy charges and professional charges with related parties. Particulars of contracts or arrangements with related parties requiring disclosure under Section 188(1) of the Companies Act, 2013 should be read with the FY 2025-26 AOC-2 annexed to the financial statements.

There are no materially significant related party transactions, with the Promoters, Directors, Key Managerial Personnel or other designated people which may have a potential conflict with the interest of the Company at large.

The Policy on materiality of related party transactions and dealing with related party transactions as approved by the Board may be accessed on the Companys website www.dhanvantrihospital.in

DISCLOSURES:

Committees of the Board

During the year in accordance with the Companies Act, 2013 the Board re-constituted/re-named some of its committees and presently the Company has the following Committees:

i. Audit Committee

Director	Category	No. of meetings held	No. of meetings attended
Premjit Singh Kashyap	Chairman	4	4
Ravi Karan	Member	4	4
Mohd Harris	Member	4	4

The composition, functions and procedures of the Audit Committee are in conformity with the requirements of Section 177 of the Companies Act, 2013. The Audit Committee met 4 times in the year under review. During the year under review, the Board accepted all the recommendations made by the Audit Committee of the Board.

Nomination and Remuneration Committee

Director	Category	No. of meetings held	No. of meetings attended
Meenakashi Elhence	Chairman	2	2
Ravi Karan	Member	2	2
Mohd Harris	Member	2	2

The Nomination and Remuneration Committee met two times during the Financial Year 2025-2026 ii. Stakeholders Relationship Committee

Director	Category	No. of meetings held	No. of meetings attended
Meenakashi Elhence	Chairman	1	1
Mohd Harris	Member	1	1
Amitabh Krishan Bhatia	Member	1	1

The Stakeholders Relationship Committee met one time during the Financial Year 2025-2026.

VIGIL MECHANISM:

The Company has established a "Vigil Mechanism" for its employees and directors, enabling them to report any concerns of unethical behavior, suspected fraud or violation of the Companys code of conduct. To this effect the Board has adopted a "Whistle Blower Policy" which is overseen by the

Audit Committee. The policy provides safeguards against victimization of the whistle blower. Employees and other stakeholders have direct access to the Chairman of the Audit Committee for lodging concern if any, for review. The details of such policy are available on the website of the Company.

FORMAL ANNUAL EVALUATION:

The Board was evaluated during the year. The Company has put in place a policy containing, inter alia, the criteria for performance evaluation of the Board, its committees and individual Directors (including independent directors).

PUBLIC DEPOSITS:

During the year under review, the Company has not accepted or renewed any deposits from the public within the meaning of section 73 to 76 A of the Companies Act, 2013 read with Companies (Acceptance of Deposits), Rules, 2014.

DISCLOSURE REQUIRED UNDER SECTION 134(3)(e) AND SECTION 178(3) OF THE COMPANIES ACT, 2013:

The Board has on the recommendation of the Nomination and Remuneration Committee, framed a policy for selection and appointment of Directors, Key Managerial Personnel and Senior Management and their remuneration. The Policy broadly lays down the guiding principles, philosophy and the basis for payment of remuneration to Executive and Non-Executive Directors, Key Managerial Personnel and Senior Management. The policy also provides the criteria for determining qualifications, positive attributes and Independence of Director and criteria for appointment and removal of Directors, Key Managerial Personnel/Senior Management and performance evaluation which are considered by the Nomination and Remuneration Committee/BoardofDirectors.

PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNING AND OUTGO:

The information on conservation of energy, technology absorption and foreign exchange earnings & outgo as stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 is as follows

a) Conservation of Energy

(i)	the steps taken or impact on conservation of energy	N.A.
(ii)	the steps taken by the company for utilizing alternate sources of energy	N.A.
(iii)	the capital investment on energy conservation equipments	N.A.

b) Technology Absorption

(i)	the efforts made towards technology absorption	The Company has not absorbed any technology from any source.
(ii)	the benefits derived like product improvement, cost reduction, product development or import substitution	N.A.
(iii)	in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)-	N.A.
	(a) the details of technology imported	N.A.
	(b) the year of import;	N.A.
	(c) whether the technology been fully absorbed	N.A.
	(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof	N.A.
(iv)	the expenditure incurred on Research and Development	N.A.

c) Foreign Exchange Earnings and Outgo

The foreign exchange earnings and outgo are given below:

(i)	Total Foreign Exchange earned	N. A
(ii)	Total Foreign Exchange used	N.A.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

During the financial year 2024-2025 the company has neither made any investment nor given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013.

PERSONNEL RELATIONS:

The Company considers human capital as a critical asset and success factor for smooth organizational work flow. Directors hereby place on record their appreciation for the services rendered by the executives, staff and workers of the Company for their hard work, dedication and commitment. During the year under review, relations between the employees and the management continued to remain cordial.

PARTICULARS OF EMPLOYEES:

The information required pursuant to Section 197 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 in respect of the remuneration of Directors, Key Managerial Personnel and employees are enclosed as "Annexure ‘C forming part of the notes to accounts of financial statements.

LISTING ON STOCK EXCHANGE:

The Companys securities are listed on The Bombay Stock Exchange, Mumbai.

DISCLOSURE AS REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (‘Act) and rules made there under, Company has adopted a Sexual Harassment Policy for women to ensure healthy working environment without fear of prejudice, gender bias and sexual harassment.

The Board states that there were no cases or complaints filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013.

CAUTIONARY STATEMENT:

Statements in this Report, particularly those which relate to Management Discussion and Analysis describing the Companys objectives, projections, estimates and expectations may constitute "forward looking statements" within the meaning of applicable laws and regulations. Actual results might differ materially from those either expressed or implied in the statement depending on the circumstances.

CODE OF CONDUCT:

The Company has adopted the code of conduct for all Board members and Senior Management as required under Regulation 17 of the Listing Regulations. The Code is posted on the Companys website: www.dhanvantrihospital.in All Board members and Senior Management personnel have affirmed compliance with the Code on an annual basis and a declaration to this effect signed by Mrs. Shalini Sharma, Managing Director forms part of this Report.

CEO/CFO CERTIFICATION:

A certificate duly signed by CFO relating to financial statements and internal controls and internal control systems for financial reporting as per the format provided in Regulation 17(8) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 was placed before the Board and was taken on record.

ACKNOWLEDGEMENTS:

Directors place on records their gratitude to all Government agencies for the assistance, co-operation and encouragement they have extended to the Company. Directors also take this opportunity to extend a special thanks to the medical fraternity and patients for their continued cooperation, patronage and trust reposed in the Company. Directors also greatly appreciate the commitment and dedication of all the employees at all levels, that has contributed to the growth and success of the Company. Directors also thank all the strategic partners, business associates, Banks, financial institutions and our shareholders for their assistance, co-operation and encouragement to the Company during the year.

	For and on behalf of the Board of Directors Dhanvantri Jeevan Rekha Limited
	Sd/-	Sd/-
Place: Meerut	(Mrs. ShaliniSharma)	(Mr. Premjit Singh Kashyap)
Date: 27.08.2026	Managing Director	Chairman
	DIN:03530674	DIN:01664811

Declaration

I, Shalini Sharma, Managing Director of Dhanvantri Jeevan Rekha Limited, hereby declare that all the members of the Board of Directors and the Senior Management personnel have affirmed compliance with the Code of Conduct, applicable to them as laid down by the Board of Directors under Schedule V sub-clause (D) Regulation 34(3) of the sEbI (Listing Obligations & Disclosure Requirements) Regulations, 2015, for the year ended March 31,2026.

	For Dhanvantri Jeevan Rekha Ltd.
	Sd/-
Place: Meerut	(Mrs. Shalini Sharma)
Date: 27.08.2026	Managing Director
	DIN: 03530674