Indraprastha Medical Corporation Ltd Directors Report.

Dear Members,

Your Directors are pleased to present the thirty-fourth Annual Report and the audited financial statements for the financial year ended 31st March 2022.

FINANCIAL RESULTS

(Rs. in crore)

Particulars FY 2021-22 FY 2020-21
Total Income 891.28 614.06
Profit before tax 79.07 4.29
Provisions for Tax 20.45 1.96
Profit for the year 58.62 2.33
Earnings per share 6.39 0.25

RESULTS OF OPERATIONS

During the year under review, the Company recorded a total income of Rs. 891.28 crore against Rs. 614.06 crore in the corresponding period last fiscal - an increase of 45%. The Profit Before Tax for financial year ended 31st March 2022 stood at Rs. 79.07 crore as compared to profit of Rs. 4.29 crore for the corresponding period of the previous year. The Profit After Tax for year ended 31st March 2022 stood at Rs. 58.62 crore as compared to a profit of Rs. 2.33 crore for the corresponding period of the previous year.

TRANSFER TO RESERVES

The Company does not propose to transfer any amount to the General Reserve out of the amount available for appropriation in the current year.

DIVIDEND

The Board of Directors have recommended a dividend of Rs. 2.50 per equity share (25% on face value of Rs. 10 per share) on the paid-up equity share capital of the Company for the financial year ended 31st March 2022, amounting to Rs. 22.92 crore, which if approved, at the forthcoming Annual General Meeting on 23rd September, 2022, will be paid to those shareholders whose names appear in the Register of Members as on 23rd September 2022. In respect of shares held in electronic form, the dividend will be paid on the basis of beneficial ownership furnished by the depositories viz., NSDL and CDSL for this purpose.

The Board approved and adopted a dividend distribution policy which is posted on the Companys website: https://delhi.apollohospitals.com/

COVID-19 PANDEMIC

The Coronavirus outbreak came to light in December, 2019 and was first detected in Delhi in March, 2020. Delhi has since witnessed 3 waves, the latest being January 2022. Towards the end of December, 2021 and through January 2022, the Omicron variant had started spreading rapidly. The disease severity was mild compared to the previous waves and COVID admissions were low. However, the fear of COVID disrupted the routine order and many patients chose to postpone elective procedures. Learning from the previous waves, the hospital has constantly upgraded its COVID management strategy to ensure uninterrupted healthcare delivery to all patients.

The hospital had added one PSA oxygen plant of 0.6 metric ton/day capacity that was donated by the Government of France. This generates 300 litres of oxygen per minute.

In addition, the hospital has now set up a second PSA plant with 2.9 metric ton/ day capacity. It has the capacity to generate 1-1.25 times of pre-COVID oxygen demand.

Liquid medical oxygen (LMO) storage & Vaporizer capacity were augmented to two times of peak demand by adding two new storage vessels of 20 metric ton capacity each. The vaporizer to convert liquid oxygen to gaseous oxygen has also been suitably upgraded.

Through the second and third waves of COVID pandemic, the hospital has treated around 2000 patients However, the story of a transition toward endemicity under Omicron, will continue to be the truth as long as a newer variant with greater infectiousness does not emerge. The risk of new variants emerging is related to the number of cases in the world, since each infected individual represents a new opportunity for viral evolution. For this reason, the continued global rollout of COVID-19 vaccines remains an investment in our collective safety as well as an imperative to protect individuals.

THE STATE OF COMPANY AFFAIRS

The Hospital witnessed a challenging year with multiple waves of the COVID-19 pandemic affecting the lives and livelihoods of the citizens. However, even during this health crisis, the hospital remained committed to providing clinical services for both COVID and non-COVID patients.

During the year under review, the following rare procedures were performed at the hospital: -

First case of HOT-CRTD (HIS-Optimised Cardiac Resynchronisation Therapy) in a 70-year-old male patient who presented with Ischaemic Cardiomyopathy. The therapy is an implantable defibrillator that is used in patients with Heart failure. It significantly lowers the risk of life-threatening cardiac events. The patient was discharged two days later in a stable condition.

A 42-year-old female patient with Sacro-iliac joint arthropathy was treated with intra-articular injections and radiofrequency denervation of nerve supply of the sacro-iliac joint resulting in significant pain relief.

Two patients with intractable facial pain due to trigeminal neuralgia were treated by CT guided Gasserian Ganglion Radiofrequency Rhizotomy under Sedation. This technique has never been reported in India.

A 67-year-old man suffering from Chronic Kidney Disease and Obstructive Jaundice resulting from Choledocholithiasis was treated successfully.

A fibroid weighing 6 kg was removed during the Total Abdominal Hysterectomy.

A 57-year-old male developed symptomatic AV conduction disease. He underwent a successful Micra (Leadless Pacemaker) implant and was discharged from the hospital within 24 hours. Leadless Pacemaker is a new implantation technique that reduces the rate of lead-related and pocket related complications. It does not require cardiac leads and is one-tenth the size of a traditional pacemaker, making it cosmetically invisible. It can be implanted entirely inside the heart through a keyhole puncture in the groin.

A large pseudo cyst with 9cm diameter in an 18-month-old male baby was drained by using a unique procedure called cysto-gastrostomy with upper GI scope. A stent was placed, and the baby was discharged on day 3 of the procedure with complete resolution of all complaints.

2 cases of endoscopic ultrasound guided liver biopsy were performed. Endoscopic Ultrasound guided Liver Biopsy are safer, relatively painless and uncomplicated and have better tissue yield, as compared to a conventional liver biopsy.

Oxford Partial or Half Knee Replacement has been introduced in the Hospital. Partial knee replacement (Microplasty) is a modern advancement in knee replacement surgery with superior results.

New Centres of Excellence

Genomic applications in clinical medicine and healthcare are rapidly changing the future of medicine. Establishment of Apollo Centre of Genomic Medicine is underway. The centre would provide comprehensive integrated ‘state of the art specialist clinical genomic and genomic medicine services. The centre will be led by world renowned geneticist, supported by a highly skilled team of clinical geneticist, genetic counsellor, and genomic laboratory scientist. The centre aims to provide holistic care to the patients and family members through precision, personalized care, high level of prediction, facilitating prevention by pre-emptive approach and active participation. In addition, the Centre plans to offer teaching and training of specialist doctors (DNB in Medical Genetics), genetic counsellors and specialist nurses. The centre will also engage in research & development including participation in clinical trials. To accommodate increasing volumes in certain specialties, enable efficient manpower utilization and managing patient flow for a better experience, the following projects were carried out:

Bone Marrow Transplant (BMT) Unit Extension: The previous BMT unit had 8 rooms, spread over two wings. To address the increasing volumes, the hospital has created a dedicated wing for BMT unit with 8_single rooms, 3 general ward beds and 1 procedure room. The project was commissioned in August 2021.

Bronchoscopy and PFT lab were cohorted in one area to make it man-power optimal.

A 25-bedded Dialysis Unit was created in the Lower Basement of the hospital to create a better patient experience.

Orthopaedic operating theatre has been moved from Ground Floor to the first floor so that all theatres are cohorted in one area.

The Radiology Unit was renovated to improve patient experience

Accreditation

1. NABL Accreditation

TheNationalAccreditationBoardforTestingandCalibration Laboratories (NABL) is an autonomous body and the sole accreditation body authorized by the Government of India that provides a third-party assessment of quality and technical competence of laboratories. NABL Certification provides an assurance of genuine reports from accurately calibrated testing and benefits patients in terms of savings in both time and_money.

Department of Laboratory Services at Indraprastha Apollo Hospital, Delhi has been accredited by NABL since 2005 and has undergone several re-accreditations.

2. ISO 27001:2013 - Information Safety and Management System

ISO 27001 is a "risk based" management system and a systematic approach to help organizations plan and implement an information security management system, to manage sensitive Hospital information and to ensure its safety and adherence to stringent security standards.

It provides benefits such as increased reliability and security of systems, cost effective and consistent information security, improved risk management and contingency planning. Indraprastha Apollo Hospital, Delhi had successfully undertaken this certification in the year 2019 and has undergone successful re-certification in August 2021.

3. NABH and AAHRPP Accreditation for clinical research and trials

The laid down NABH standards on Ethics Committee Accreditation are the basic minimum requirements which need to be adhered to, to improve the safety of the process of Clinical Trials in India. It is an attempt at standardizing the quality of clinical research in India. ARI division has recently undergone NABH re-accreditation. The Association for the Accreditation of Human Research Protection Programs, Inc. (AAHRPP) promotes high-quality research through an accreditation process that helps organizations worldwide strengthen their human research protection programs (HRPPs). As the "gold seal," AAHRPP accreditation offers assurances-to research participants, researchers, sponsors, government regulators, and the general public-that an HRPP is focused first and foremost on excellence. The Clinical Research program at Apollo has received AAHRPP accreditation (The Association for the Accreditation of Human Research Protection Programs) which is valid till 2024. Only 1% of hospitals globally are AAHRPP accredited.

4. Other accreditations:

Joint Commission International- valid till 2023

ISO 14001:2015 - Environment Management System- valid till 2023

Awards and Accolades

The Hospital received a number of awards and accolades during the year. Some of them are as under: -

Award Category / Project Awarded
THE WEEK Best Multispecialty Hospital in Delhi
AHPI Best Covid Management
AHPI Patient Friendly Hospital
Apollo Hospital Awards–Share your story Minimizing medication errors due to sound-alike-look-alike drugs
Apollo Hospital Awards–Apollo Holistic Approach to Efficient
Innovation & Quality Award 2021 Point of Care Testing (POCT) Management

On a Public Interest Litigation (PIL) regarding free treatment in the hospital, the Honble Delhi High Court vide its order dated 22nd September, 2009 has held that free treatment provided by the hospital shall be inclusive of medicines and consumables.

The Company has filed a Special Leave Petition (SLP) before the Honble Supreme Court challenging the order of the Honble Delhi High Court. The Honble Supreme Court of India has admitted the SLP and has passed an interim order on 30th November, 2009. In pursuance of the said interim order, the Company has been providing free treatment to the patients referred by the Government of NCT of Delhi and has been charging only for medicines & medical consumables. The financial impact in the matter can be quantified only after the final decision by the Honble Supreme Court of India.

The Company has moved an Interlocutary Application before the Honble Supreme Court seeking direction that the conditions relating to provision of free treatment facilities for patients belonging to indigent category to the extent of 10% IPD and 25% OPD be made applicable to the Company as have been made applicable in case of other hospitals. Additionally, the Company has also made representations before the Government of NCT of Delhi to allow the Company to extend free treatment including medicines and consumables up to 10% IPD and 25% OPD as applicable to other hospitals.

The Directorate of Health Services, Government of NCT of Delhi has appointed a Nodal Medical Officer to be permanently stationed in the Hospital to support, guide and monitor the treatment of patients referred by the Government.

During the year, a total of 28667 patients (26034 Out Patients and 2633 In Patients) were treated under the free category.

MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY

No material change and commitment affecting the financial position of the Company, has occurred between the financial year ended on 31st March, 2022, and the date of the report. There has been no change in the nature of business of the Company.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company has no subsidiaries or associate companies. Also, it does not have any joint venture operation with any other entity.

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. The report on corporate governance as required under the Listing Regulations, forms an integral part of this report. The requisite certificate from Mr. Baldev Singh

Kashtwal, Practicing Company Secretary, confirming the compliance with the conditions of corporate governance is attached to the report on Corporate Governance.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34 of the Listing Regulations, forms an integral part of this report.

BUSINESS RESPONSIBILITY REPORT

As stipulated under the Listing Regulations, the Business Responsibility Report describing the initiatives undertaken by the Company from an environmental, social and governance perspective is attached as part of the Annual Report.

SEXUAL HARASSMENT

Your company strongly believes in providing a safe and harassment free workplace for every individual working with us through various interventions, policies and practices. The Company always endeavors to create and provide an environment that is free from discrimination and harassment including sexual harassment.

The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at the workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules framed thereunder. The Company has an Internal Complaints Committee (ICC) for providing a redressal mechanism pertaining to sexual harassment of women employees at the work place. During the year, the ICC received 5 (five) complaints. Detailed investigations were carried out and_appropriate actions taken by the ICC in all the reported incidents.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has established a vigil mechanism for Directors and Employees to report their genuine concerns, the details of which are given in the Corporate Governance Report. The Whistle Blower Policy may be accessed on the Companys website on the https://delhi. apollohospitals.com/downloads/Whistle%20Blower%20 Policy.pdf During the year, no matter or incident has been received under the Whistle Blower Policy of the Company.

PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

During the year, the Company has not given any loan or made an investment, nor given any guarantee in terms of Section 186 of the Companies Act, 2013.

DEPOSITS

The Company has not accepted any deposit during the year under review or earlier years under Chapter V of the Companies Act, 2013.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Board Composition and Independent Directors

As on 31st March 2022, the Board consisted of the Non-Executive Chairman, one Executive Director, six Non-Executive Directors and nine Independent Directors. Independent directors are appointed for a term of five years and are not liable to retire by rotation based on the recommendation of the Nomination and Remuneration Committee.

All Independent Directors have given their declarations that they meet the criteria of independence as laid down under Section 149(6) and 149(7) of the Companies Act, 2013 and Regulation 16(b) of the SEBI Listing Regulations.

In the opinion of the Board, the Independent Directors possess the requisite expertise and experience and are persons of high integrity and repute. They fulfill the conditions specified in the Act and the Listing Regulations and they are independent of the management.

Retirement by Rotation

Pursuant to Section 152 of the Companies Act, 2013, Prof. (Dr.) Mahesh Verma and Mr. Vikram Bhat, Directors, retire by rotation at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment.

Change in Board Composition

The following changes have taken place in composition of the Board during the year under review: -

Mr. Vinayak Chatterjee (DIN: 00008933) has been reappointed by the Board as an Independent Director for five consecutive years from 1st April, 2021 to 31st March, 2026, subject to the approval of the shareholders. He has been re-appointed as an Independent Director by the shareholders of the Company by way of Postal Ballot through e-voting on 23rd July, 2021.

Mr. Udit Prakash Rai (DIN: 07573658) has been appointed as an Additional Director w.e.f 7th April, 2021. He has been appointed as a Director by the shareholders of the Company by way of Postal Ballot through e-voting on 23rd July, 2021.

Mr. Vikram Bhat (DIN: 09076418) has been appointed as an Additional Director w.e.f. 7th April, 2021. He has been appointed as a Director by the shareholders of the Company by way of Postal Ballot through e-voting on 23rd July, 2021.

Ms. Madhumita Ganguli (DIN: 00676830) tendered her resignation as "Non-Executive Non-Independent Director" from the Board of Directors of the Company on 9th June, 2021. In view of the background, experience and contributions made by Ms. Madhumita Ganguli during her tenure as "Non-Executive Non-Independent Director", it was felt that her continued association would be beneficial to the Company, and therefore, based on the recommendation of the Nomination and Remuneration Committee, the Board at its meeting held on 9th June, 2021, appointed Ms. Madhumita Ganguli as an Independent Director, subject to the approval of the shareholders, to hold office for five consecutive years effective from 9th June, 2021 to 8th June, 2026, not liable to retire by rotation. She has been appointed as an Independent Director by the shareholders of the Company for a period of five consecutive years effective from 9th June, 2021 to 8th June, 2026, by way of Postal Ballot through e-voting on 23rd July, 2021.

Mr. Jasmine Shah (DIN: 08621290) (an Additional Director as on 31st March, 2021) has been appointed as a Director by the shareholders of the Company by way of Postal Ballot through e-voting on 23rd July, 2021.

Prof. (Dr.) Mahesh Verma (DIN: 08997324) (an Additional Director as on 31st March, 2021) has been appointed as a Director by the shareholders of the Company by way of Postal Ballot through e-voting on 23rd July, 2021.

Mr. Salil Singhal (DIN: 00006629) (an Additional Director as on 31st March, 2021) has been appointed as an Independent Director by the shareholders of the Company for a period of five consecutive years from 8th February, 2021 to 7th February, 2026, by way of Postal Ballot through e-voting on 23rd July, 2021.

Ms. Vineeta Rai (DIN: 07013113) (an Additional Director as on 31st March 2021) has been appointed as an Independent Director by the shareholders of the Company for a period of five consecutive years effective from 8th February, 2021 to 7th February, 2026, by way of Postal Ballot through e-voting on 23rd July, 2021.

Mr. P. Shivakumar has been re-appointed as Managing Director of the Company by the shareholders at the Annual General Meeting of the Company held on 24th September, 2021, for a period of 3 years effective from 5th November, 2021.

Key Managerial Personnel

Pursuant to the provisions of Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the Company are Mr. P. Shivakumar – Managing Director, Mr. C. P. Tyagi – Chief Financial Officer and Mr. Priya Ranjan – Associate Vice President – Corporate Affairs & Legal.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and in terms of Regulation 17(10) of the SEBI Listing Regulations, the Board has carried out an annual performance evaluation of its own performance, the Directors individually as well as the working of the Committees. The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report.

REMUNERATION POLICY

The Board has, on the recommendation of the Nomination and Remuneration Committee, approved a policy for selection and appointment of Directors, Senior Management and their remuneration. The Remuneration Policy is stated in the Corporate Governance Report.

MEETINGS OF THE BOARD

The Board met five times during the financial year, the details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013, read with the Listing Regulations.

RISK MANAGEMENT

The Board of Directors had constituted a Risk Management Committee to identify elements of risk in different areas of operations and to develop a policy for actions associated to mitigate the risks. The Committee on a timely basis informed the members of the Board about risk assessment and minimization procedures and in the opinion of the Committee, there was no risk that may threaten the existence of the Company. The details of the Risk Management Committee are included in the Corporate Governance Report.

INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations.

To maintain its objectivity and independence, the Internal Audit function reports to the Audit Committee. The details of the internal control system and its terms of reference are set out in the Management Discussion and Analysis Report forming part of the Boards Report.

The Board of Directors has laid down internal financial controls to be followed by the Company and the policies and procedures to be adopted by the Company for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information. The Audit Committee evaluates the internal financial control systems periodically.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

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

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors to the best of their knowledge hereby state and confirm: a. that in the preparation of the annual financial statements for the year ended 31st March, 2022, the applicable accounting standards have been followed along with proper explanations relating to material departures, if any; b. that such accounting policies have been selected and applied consistently, and judgement 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 31st March, 2022, and of the profit of the Company for the year ended on that date; c. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d. that the annual financial statements have been prepared on a going concern basis; e. that proper internal financial controls were in place and that the financial controls were adequate and were operating effectively; f. that systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES

All contracts / arrangements / transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arms length basis. During the year, the Company has not entered into any contract / arrangement / transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions.

The policy on materiality of related party transactions as approved by the Board may be accessed on the Companys website at https://delhi.apollohospitals.com/ downloads/materiality-of-related-party-transactions.pdf Your Directors draw the attention of the members to Notes to the financial statements which sets out related party disclosures. None of the Directors have any pecuniary relationships or transactions vis-a-vis the Company.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules are provided in the Annual Report, which forms part of this Report. Disclosures relating to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are also provided in the Annual Report, which forms part of this Report. Having regard to the provisions of Section 136(1) read with the relevant provisions of the Companies Act, 2013, the Annual Report excluding the aforesaid information is being sent to the members of the Company. The said information is available for inspection at the Registered Office of the Company during working hours. Any member interested in obtaining such information may write to the Company Secretary and the same will be furnished free of cost.

SHARE CAPITAL

The paid-up Equity Share Capital as on 31st March, 2022 was Rs. 91.67 crore.

During the year under review, the Company has not issued shares with differential voting rights nor granted stock options nor sweat equity. As of 31st March, 2022, the details of shareholding in the Company held by the Directors are set out in the Corporate Governance Report forming part of the Boards Report.

INDUSTRIAL RELATIONS

The Industrial Relations continued to be cordial during the year under review.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

As part of its initiatives under Corporate Social Responsibility (CSR), the Company undertakes projects in the areas of Rural Development, Healthcare, Education & Skill Development and Research in Healthcare.

These projects are in accordance with Schedule VII of the Companies Act, 2013. The Report on CSR activities for the financial year 2021-22 is annexed herewith marked as Annexure - 1 to this Report.

STATUTORY AUDITORS

The Statutory Auditors of your Company namely, M/s._S.N. Dhawan & Co. LLP, Chartered Accountants, were appointed for a period of five years at the Annual General Meeting held on 26th September, 2017 and their term is liable to come to conclusion from the end of the ensuing 34th Annual General Meeting. Your Directors recommend re-appointment of Statutory Auditors for a further period of five (5) years from the conclusion of the ensuing 34th Annual General Meeting till the conclusion of the 39th Annual General Meeting subject to the approval of Members. The Statutory Auditors have confirmed their eligibility and submitted the certificate in writing that they are not disqualified to hold the office of the Statutory Auditor. The report given by the Statutory Auditor on the financial statements of the Company forms part of the Annual Report. There is no qualification, reservation, adverse remark or disclaimer given by the statutory auditor in their report. No instances or matters of fraud have been reported by the Auditors.

COST AUDITORS

Pursuant to Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the Directors on the recommendation of the Audit Committee, appointed M/s_Devarajan Swaminathan and Co., Cost Accountants, (FRN 100669) to audit the cost accounts of the Company for the financial year 2022-23 on a remuneration of Rs._5.50 lakhs.

As required under the Companies Act, 2013, the remuneration payable to the Cost Auditor is required to be placed before the members in a general meeting for their ratification. Accordingly, a resolution seeking members ratification for the remuneration payable to M/s Devarajan Swaminathan and Co., Cost Accountants (FRN 100669) is included at Item No. 6 of the Notice convening the Annual General Meeting.

The Company has maintained cost records in accordance with the provisions of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014 in respect of healthcare services.

SECRETARIAL AUDITORS

The Board had appointed M/s RSM & Co., a firm of Company Secretaries in Practice, to conduct Secretarial Audit for the financial year ended 31st March, 2022. The Secretarial Audit Report for the financial year ended 31st_ March, 2022, is annexed herewith marked as Annexure - 2, to this Report.

During the period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards etc. covered under the Secretarial Audit, save and except that the Govt. of NCT of Delhi - one of the promoters of the Company, have not dematerialized their shareholding in the Company. Requests have been made by the Company to the Govt. of NCT of Delhi to get their shareholding dematerialized.

PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO.

Information as required to be disclosed on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, is annexed herewith marked as Annexure - 3 to this Report

ANNUAL RETURN

In accordance with the provisions of Section 92(3) read with section 134(3)(a) of the Companies Act, 2013 and Rules framed thereunder, an annual return in the prescribed format for the financial year 2021-22 is available on the website of the Company at https://delhi. apollohospitals.com/annual-report.

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation of the contribution made by the employees, at all levels, towards the continued growth and prosperity of your Company. Your Directors also wish to place on record their appreciation of business constituents, banks and other financial institutions, the Government of Delhi and shareholders of the Company for their continued support.

For and on behalf of the Board

Jasmine Shah

Chairman

(DIN 08621290)

Place: New Delhi

Date : 8th August, 2022