Global Longlife Hospital and Research Ltd Management Discussions

OVERVIEW OF INDIAN ECONOMY

The Indian healthcare industry continues to witness significant growth driven by increasing healthcare awareness, rising disposable income, growing penetration of health insurance, government initiatives, technological advancements, and expansion of healthcare infrastructure. The sector includes hospitals, diagnostics, pharmaceuticals, medical devices, telemedicine, and allied healthcare services.

Indias healthcare market is expected to grow steadily due to increasing demand for quality healthcare services, an ageing population, and rising prevalence of chronic diseases. Government initiatives such as Ayushman Bharat, digital healthcare missions, and increased public healthcare spending are expected to further strengthen the healthcare ecosystem.

The healthcare sector has also seen increased adoption of digital technologies, including teleconsultation, electronic medical records, AI-driven diagnostics, and data analytics, resulting in improved operational efficiencies and patient outcomes.

Global growth is projected at 3.3% in 2026, fully recovering from the April 2025 tariff-related downgrade and returning to its January 2025 level. Advanced economies (AEs) are expected to grow at 1.8%, driven largely by continued US resilience, while emerging market and developing economies (EMDEs) are projected to expand by 4.2%, slightly below initial expectations, reflecting lingering effects of tight financial conditions and trade uncertainty. Overall, growth stabilises but remains uneven and regionally divergent.

Indias competitive advantage lies in its large pool of well-trained medical professionals. India is also cost-competitive compared to its peers in Asia and Western countries. The cost of surgery in India is about one-tenth of that in the US or Western Europe. The low cost of medical services has resulted in a rise in the countrys medical tourism, attracting patients from across the world. Moreover, India has emerged as a hub for R&D activities for international players due to its relatively low cost of clinical research.

OUTLOOK

Indias healthcare sector is extremely diversified and is full of opportunities in every segment, which includes providers, payers, and medical technology. India is a land full of opportunities for players in the medical devices industry. The country has also become one of the leading destinations for high-end diagnostic services with tremendous capital investment for advanced diagnostic facilities, thus catering to a greater proportion of the population. Besides, Indian medical service consumers have become more conscious towards their healthcare upkeep. Rising income levels, an ageing population, growing health awareness and a changing attitude towards preventive healthcare are expected to boost healthcare services demand in the future. Greater penetration of health insurance aided the rise in healthcare spending, a trend likely to intensify in the coming decade.

(Source: IBEF, CNBC, Economic Times)

1. INDUSTRY STRUCTURE AND DEVELOPMENT

Healthcare has become one of Indias largest sectors, both in terms of revenue and employment. Healthcare comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services, and increasing expenditure by public as well private players.

Indias healthcare delivery system is categorised into two major components - public and private. The government, i.e., public healthcare system, comprises limited secondary and tertiary care institutions in key cities and focuses on providing basic healthcare facilities in the form of Primary Healthcare Centers (PHCs) in rural areas. The private sector provides majority of secondary, tertiary, and quaternary care institutions with major concentration in metros, tier-I, and tier-II cities.

Indias competitive advantage lies in its large pool of well-trained medical professionals. India is also cost competitive compared to its peers in Asia and western countries. The cost of surgery in India is about one-tenth of that in the US or Western Europe. The low cost of medical services has resulted in a rise in the countrys medical tourism, attracting patients from across the world. Moreover, India has emerged as a hub for R&D activities for international players due to its relatively low cost of clinical research.

Market Size

India continues to expand its healthcare infrastructure. In FY26, private hospitals are expected to add over 4,000 beds with investments of Rs. 11,500 crore (US$ 1.34 billion). As of April 1, 2025, the country has 13,86,150 registered allopathic doctors and 7,51,768 AYUSH practitioners, resulting in a doctor-to-population ratio of 1:811. Medical education capacity is also growing, with 157 new medical colleges being established by upgrading district and referral hospitals, of which 131 are operational. Under the Central Sector Scheme for new AIIMS, 22 institutes have been approved, and undergraduate courses have commenced in 19. By April 2025, India had 74,306 postgraduate seats and 1,18,190 MBBS seats, strengthening the talent pipeline.

Investment activity in the sector remains strong. According to the Grant Thornton Bharat Pharma & Healthcare Dealtracker, Q1 2025 witnessed 71 deals worth Rs. 22,279 crore (US$ 2.6 billion), with focus areas including speciality pharma, biotech, digital health, and CRAMS. The Drugs & Pharmaceuticals sector alone attracted FDI inflows of Rs. 2,10,940 crore (US$ 24.62 billion) between April 2000 and June 2025. Hospitals and diagnostic centres received Rs. 1,04,970 crore (US$ 12.25 billion), while medical and surgical appliances drew Rs. 33,933 crore (US$ 3.96 billion).

Health insurance penetration is steadily rising. Total health insurance premiums stood at Rs. 1,18,688 crore (US$ 13.84 billion) in FY25, up from Rs. 1,09,007 crore (US$ 12.72 billion) in FY24. In July 2025, standalone health insurers premiums rose 10.4% YoY to Rs. 3,622 crore (US$ 422.7 million), reflecting growing adoption and demand for coverage. Digital health and telemedicine are emerging as key growth drivers. The Indian digital health market, valued at Rs. 75,658 crore (US$ 8.79 billion) in 2024, is projected to reach Rs. 4,11,275 crore (US$ 47.80 billion) by 2033 at a CAGR of 17.67%. The telemedicine market is expected to reach Rs. 47,130 crore (US$ 5.4 billion) by 2025, supported by demand for remote healthcare and advances in technology.

Medical tourism continues to strengthen Indias global healthcare position. The market, valued at US$ 7.69 billion in 2024, is expected to reach US$ 14.31 billion by 2029. In 2023, around 634,561 foreign tourists visited India for medical treatment, accounting for 6.87% of total arrivals. With a medical value travel industry of US$ 5-6 billion and over 500,000 international patients annually, India is among the leading global destinations for advanced treatment.

2. OPPORTUNITIES AND THREATS

The Indian medical devices sector has witnessed remarkable growth in recent years and is expected to reach Rs. 4,34,350 crore (US$ 50 billion) by FY31 driven by increasing demand for quality healthcare, advancements in technology, and favorable government policies. Start-ups in this sector have been instrumental in fostering innovation, improving accessibility, and reducing costs.

Under GST 2.0, taxes on medical devices and consumables are reduced to 5% on most devices and supplies like diagnostic kits, reagents, glucometers, medical oxygen, gauze, bandages, surgical gloves, thermometers, down from 12-18% earlier.

(Source: IBEF)

3. SEGMENT-WISE / PRODUCT-WISE PERFORMANCE:

The company operates in the single segment i.e. Health Care and Hospital. The total revenue from operations is Nil in FY 2025-26 as compared to 57.73 lakhs in FY 2024-25. The Profit before interest and taxes is Nil in the FY 2025-26 as against profit of 37.54 lakhs for the FY 2024-2025.

4. OUTLOOK FOR FY 2026-2027

We plan to expand our network into markets;

We intend to maximize our operational efficiency by achieving greater integration and by implementing a stronger supply chain management. We have plan to alter name and object of the company.

5. RISK AND CONCERN

The Companys ability to foresee and manage business risks is crucial in achieving favourable results. Risk management at Global Longlife Hospital and Research Limited is an integral part of the business, focusing to mitigate the adverse impact of risks on business objectives. The Company has laid down a well defined risk management procedure covering the risk identification, risk exposure, potential impact and risk mitigation process. The Board periodically reviews the risks and suggests steps to be taken to control and mitigate the same through a properly defined framework.

6. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUECY

The Company has an adequate internal control system adopted for operating procedures, policies and process guidelines. The guidelines are well-documented with clearly defined authority limits corresponding with the level of responsibility for each functional area. Further, the Company has budgetary control system to monitor expenditure against approved budgets on an ongoing basis. The Companys robust internal audit programme which works to conduct a risk-based audit not only tests the adherence to laid down policies and procedures but also suggests improvements in the current processes and systems.

7. DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

The Financial performance of the company during the FY 2025-26 as compared to FY 2024-2025 is as under:

(Rs. In Lakhs)

Operational Performance

The Company continued to focus on improving operational efficiency leading to better returns for the shareholders. Further, the company has significantly enhanced its operational performance by establishing prudent risk management framework.

8. MATERIAL DEVELOPMENT IN HUMAN RESOURCES/INDUSTRIAL RELATIONSHIP FRONT, INCLUDING NUMBER OF PEPOLE EMPLOYED

Human resource practices and policies at Global Longlife Hospital and Research Limited ensure that all employees, wherever they work, whatever their role is, are always treated equally, fairly and respectfully. We maintain consistent and transparent diversity policies.

Our human resource team believes in personnel management, which involves planning, organising, directing and controlling of the recruitment and resource management, training & development, compensation, integration and maintenance of people for the purpose of contributing to organizational, individual and social goals.

People power is one of the pillars of success of company. As on 31^st March, 2026 the Company employs 03 employees. Going ahead, the Company aims to retain and develop the existing employees and align their goals with the common business vision and mission.

9. THE DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS

During the financial year, the details of significant change in the key financial ratios i.e. change of more than 25% as compared to the previous year along with the detailed explanation is summarized below on standalone basis:

10. The Return on Net Worth during the FY 2025-26 was -7.24 % as compared to 0.74 % in FY

2024-25. The changes in the return on Net Worth is mainly due to negative profit in the FY 2025-26.

11. CAUTIONARY STATEMENT

Statement made in the Management Discussion and Analysis describing the various parts may be “forward looking statement” within the meaning of application securities laws and regulations. The actual result may differ from those expectations depending upon the economic conditions, changes in Government regulation and amendments in tax laws and other internal and external factors.