1. Economic Overview
Global Economy
The global economy grew by an estimated 3.4 per cent in calendar year 2025. The International Monetary Fund (World Economic Outlook, April 2026) projects growth of approximately 3.1 per cent in 2026 and 3.2 per cent in 2027, with advanced economies expanding at under 2 per cent and emerging markets, led by Asia, at close to 4 per cent. Global headline inflation is projected to decline from 4.4 per cent in 2025 to 3.7 per cent in 2026, giving major central banks room to ease policy rates. Elevated trade-policy uncertainty and the conflict in the Middle East remain the principal risks to this outlook.
Healthcare has remained largely insulated from these cycles. Demand for healthcare services is driven by structural forces (ageing populations, the rising prevalence of chronic disease and expanding insurance coverage) rather than by discretionary spending. Governments and private capital worldwide continue to invest in healthcare capacity, technology and access, and healthcare spending has consistently grown faster than broader economic activity across both developed and emerging markets.
Indian Economy
India remained the fastest-growing major economy in the world, with real GDP growth estimated at 7.6 per cent for FY 2025-26. Growth was underpinned by strong domestic consumption, sustained public capital expenditure (budgeted at T11.21 lakh crore for FY 2025-26 and increased to T12.22 lakh crore for FY 2026-27) and a resilient services sector. With inflation well within the Reserve Bank of Indias tolerance band, the policy repo rate was reduced to 5.25 per cent during the year, supporting credit growth and private investment. GDP growth of 6.6-6.9 per cent is projected for FY 2026-27.
Indias demographic profile presents a dual dynamic: a young workforce that will sustain economic growth, and an elderly population projected to nearly double as a share of population by 2050. The sections below set out the structural forces the Company believes will shape healthcare demand and delivery over the coming decade, and how the Companys portfolio is positioned against each.
2. Industry Overview
Healthcare Industry
Indias healthcare industry is being reshaped by a small number of structural forces. Five, in particular, determine where and how the Company competes: the disease burden underpinning demand, the regulatory and payor shifts that convert that demand into treated volume, the geographies and populations that supply increasingly needs to reach, the technology now entering how care is delivered, and the way consumers themselves are beginning to drive their own care.
Aging and a growing chronic-disease burden are the starting point - living longer has not meant living healthier. Research from the McKinsey Health Institute suggests that for every additional year of life gained globally over the past six decades, close to six months has been spent in poor health, and a person today can expect, on average, roughly a decade of life in medium or
poor health. Indias own demographic transition compounds this: its elderly population is projected to nearly double as a share of the population by 2050, even as the countrys disease burden shifts decisively toward chronic, non-communicable conditions (cancer, kidney disease, and cardiovascular and metabolic disorders) that now account for the majority of disease burden nationally and require sustained, specialised care over years rather than a single intervention. This combination (more years lived, a growing share of them in poor health, and a chronic-disease burden that keeps compounding) is what anchors long-term demand for oncology and renal care today, and for elder care as the Companys next pillar: these are durable, recurring-care needs rather than one-time procedures.
Five structural forces shaping healthcare
Regulatory and payor shifts
Regulatory and payor shifts are converting demand into access - closing the gap for those underserved. The single largest driver of how quickly disease burden converts into treated volume is financing and regulation. Government schemes (led by Ayushman Bharat PM-JAY, now extended to all citizens aged 70 and above) together with state health-assurance programmes, tightening quality and accreditation standards, and rapidly growing private insurance penetration, determine which patients can afford specialised care, where, and from which providers. As coverage deepens, particularly outside the metros, the pool of patients able to access organised, accredited specialty care expands faster than the underlying disease trend alone would suggest, and payor mix is increasingly the variable that determines a providers addressable market.
Underserved geographies and populations
Care is expanding to underserved geographies and populations - a key development for reducing disparities. An estimated 70 per cent of Indias specialised healthcare infrastructure remains concentrated in metropolitan and Tier-1 cities that are home to only around 30 per cent of the population, and providers are increasingly following patients into Tier-2 and Tier-3 India rather than waiting for patients to travel to them. The same underserved logic extends beyond geography: entire population segments, womens health foremost among them, remain structurally underserved by specialised care regardless of city tier, representing a comparable order of opportunity for organised providers willing to build for populations the existing system has been slow to prioritise. Operators able to replicate clinical quality and unit economics across these underserved markets and populations (through capital-efficient formats, hospital partnerships and standardised protocols) stand to capture a disproportionate share of the sectors next phase of growth.
Al-enabled clinical and operating workflows
Innovation, led by Al, is entering clinical and operating workflows - a force for disruption and reach. Across India, AI-enabled tools are increasingly embedded in diagnostic and operating workflows rather than deployed as standalone pilots: AI-assisted chest X-ray screening now runs across public health facilities in multiple states, and AI-enabled triage integrated into the National TB Elimination Programme has been associated with a meaningful decline in adverse outcomes. In markets with a persistent shortage of specialists, AI is increasingly used to extend scarce clinical expertise, allowing frontline staff to perform screening and triage functions historically reserved for specialists, a pattern that is letting several emerging healthcare systems build AI-native workflows rather than retrofit AI onto legacy processes. Indias AI-enabled diagnostics market is projected to more than triple by 2030. The Company views AI less as a standalone opportunity and more as an efficiency lever across its existing pillars: in imaging and diagnostic workflows, in triage and scheduling, and in extending clinical oversight across a dispersed network of centres.
Consumer-led Healthcare and Consolidation
Direct-to-consumer models
Direct-to-consumer models are moving beyond the US - and into developing markets, including India. Much of the recent commentary on healthcare consumerism has focused on the United States, where a shift from reactive, clinician-directed treatment toward consumer-directed prevention and wellness has created a global wellness market of roughly US$ 1.8 trillion, and where health businesses spanning telehealth, at-home diagnostics and wearable-linked platforms increasingly sit alongside traditional care delivery. The same shift is now visible in developing markets. India is already the worlds seventh-largest wellness economy and among its fastest-growing, expanding at more than 11 per cent annually, nearly twice the global average, with direct-to-consumer brands scaling on the same forces reshaping US healthcare: rising health consciousness, premiumisation and a structural move from reactive treatment to preventive, self-directed health. This growth is compounding with the shift into Tier-2 and Tier-3 India described above, as digital-first models let consumers in smaller cities access health information, diagnostics and wellness services without waiting for physical infrastructure to catch up. The Company views this as a structural, not cyclical, shift, and it is a principal reason the Company has identified womens health, a segment naturally suited to consumer-led, digital-first delivery, as a future pillar of its platform.
Specialisation and consolidation
The Company expects specialisation and consolidation to continue. Capital is flowing toward proven single-specialty operators, and payors are increasingly directing volumes toward accredited providers. Operators with disciplined unit economics, standardised clinical protocols and the ability to scale across geographies, populations and delivery models are best positioned to lead the sectors next phase.
Specialty Healthcare Opportunities
The Companys specialty focus falls into two distinct groups. In three segments (renal care, cancer care and diagnostics), the Company has completed acquisitions and holds active operating companies: renal care and cancer care as its two operating pillars, and diagnostics as the enabler that supports both. In two further segments (senior care and womens health), the Company does not yet operate but has identified them as future pillars: areas where demographic demand is compounding and organised capital is entering rapidly, and where the Company intends to build its next platforms.
Segments with active operating companies: two pillars and one enabler
Renal Care (operating pillar): India adds an estimated 2.2 lakh new end-stage kidney disease patients every year, driven by among the highest prevalence of diabetes and hypertension in the world. Against an estimated annual requirement of approximately 3.4 crore dialysis sessions, only around 1.2-1.5 crore are currently delivered, barely 35-45 per cent of clinical need, and patients outside metropolitan centres routinely travel long distances, multiple times a week, for life-sustaining treatment. Government schemes, including PM-JAY and state dialysis programmes, are progressively underwriting affordability. Through its investment in 7Med India Private Limited, the Company operates an established multi-centre dialysis network delivered largely in partnership with hospitals, a
capital-efficient model the Company intends to scale by deepening presence in existing geographies, extending the hospital-partnership network into new districts and participating in government dialysis programmes.
Cancer Care (operating pillar): India records over 1.5 million new cancer cases annually. An estimated 60-65 per cent of patients require radiation therapy as part of their treatment, yet fewer than half of those eligible receive it: of around 9 lakh patients a year who require radiation therapy, an estimated 5 lakh go untreated. India has approximately 700-800 radiotherapy machines against a requirement of about 2,500 under ICMR norms, and the gap is sharpest outside metropolitan India: around 70 per cent of new cancer cases arise outside Tier-1 cities, which hold only about 30 per cent of the countrys radiotherapy machines. Through its investment in Opti- mus Oncology Private Limited, the Company operates radiation-led comprehensive cancer care centres in precisely these underserved markets, and intends to scale by adding centres in districts where the capacity gap is most acute, in partnership with local providers and supported by government health-assurance schemes.
Diagnostics — shared enabler
Diagnostics (enabler): Diagnostics informs the majority of clinical decisions while accounting for a small fraction of healthcare spending, and the organised Indian diagnostics market continues to grow in double digits as accredited chains gain share from unorganised laboratories. The Companys controlling stake in Biohygea Global Private Limited (Medilabs) provides a scalable hub-and-spoke diagnostics platform that functions as an enabler across the Companys pillars (screening and early detection for cancer care, and disease monitoring for renal and chronic care) while also serving standalone community demand.
Future Pillars: segments the Company will build next Senior Care
Senior Care (future pillar): The global geriatric-care services market, valued at approximately US$ 1,217.5 billion in 2025, is projected to reach US$ 2,250.7 billion by 2035. India is home to the worlds second-largest elderly population (around 104 million people, projected to rise from about 10 per cent to nearly 20 per cent of the population by 2050), and organised capital is entering the segment at pace. Indias senior-living market, valued at approximately US$ 3.6 billion, is projected to reach around US$ 14 billion by 2031, and recent activity illustrates the institutionalisation under way: venture and strategic investment into full-stack senior-care platforms (a US$ 20 million seed round into Primus Senior Living led by General Catalyst; a T85 crore Series B1 into Age Care Labs, parent of Emoha and Epoch), continued promoter commitment (Max Indias T219 crore investment into its Antara senior-care subsidiaries), and international operators scaling multi-city portfolios (Columbia Pacific Communities, with over 1,600 units under management). The movement is global: the United Kingdoms care- home market is valued at approximately ?27 billion and has grown about 25 per cent over three years, while in the GCC the senior population is projected to nearly double by 2030 and formal care models are only beginning to take root. The Company has identified senior care as a future pillar and is evaluating opportunities in India and internationally.
Womens Health
Womens Health (future pillar): Womens health remains structurally underserved, in India and globally, across screening, preventive care and the distinct health needs that arise at each stage of a womans life. Investment in the segment is accelerating worldwide from a low base, and the fastest-growing entry points are increasingly digital-first and direct-to-consumer rather than facility-led, reflecting how women increasingly discover and engage with health
information and services. The Company regards this as a segment where focused, well-designed delivery models can create both clinical impact and durable value, and has identified womens health as a future pillar of the platform.
3. Company Overview and Strategic Transformation
During FY 2025-26, the Company moved from strategic intent to operating structure. Over the course of the year, it completed investments in three healthcare operating companies, built a senior leadership team with deep healthcare and operating experience, and put in place the governance architecture of a healthcare enterprise. The Company today is a healthcare platform with operating businesses in renal care, cancer care and diagnostics, identified future pillars in senior care and womens health, and a legacy real-estate portfolio being monetised to fund healthcare growth.
Reflecting this direction, the Board of Directors approved a change in the Companys name from PVP Ventures Limited to Evervie Health Limited, subject to shareholder and other statutory and regulatory approvals. The proposed name signals the Companys intent: to build a recognised healthcare institution delivering specialised, high-quality care to underserved communities.
The Companys ambition is high-quality specialty care for the underserved, everywhere it is needed; its method is to build and scale exceptional operating companies, in and from India. The platform rests on two operating pillars, renal care and cancer care, supported by diagnostics as a common enabler, with senior care and womens health identified as future pillars. These segments share the same characteristics: large and growing clinical need driven by demographics and chronic disease; deep under-penetration of organised supply, particularly outside metropolitan India; and proven single-specialty delivery models with attractive unit economics. The Companys approach is to acquire meaningful stakes in established operators with demonstrated clinical and operating capability, and to scale them with capital, management depth and shared infrastructure.
Three investments anchor the platform. 7Med India Private Limited brings an established, hospital-partnered dialysis network addressing Indias large and underserved renal care need. Optimus Oncology Private Limited provides a radiation-led comprehensive cancer care platform focused on Tier-2 and Tier-3 markets. Biohygea Global Private Limited (Medilabs) contributes a scalable hub-and-spoke diagnostics platform that enables both pillars while serving standalone demand.
The Companys conviction is that value in healthcare will accrue to integrated platforms rather than standalone assets. Shared diagnostics, common quality and governance standards, centralised procurement and coordinated patient pathways allow each operating company to deliver better outcomes at lower cost than it could independently. The Companys role is to provide capital discipline, governance and this connective infrastructure.
Institutional capability was strengthened materially during the year. The Company inducted senior leaders (physicians and operators with experience across leading global healthcare institutions, consulting firms and public health) and reinforced the Board with accomplished independent members, enhancing strategic oversight, operational depth and governance standards.
Monetisation of the Companys legacy real-estate assets continues to provide the financial flexibility for this transformation. Capital allocation remains disciplined: investments are evaluated on strategic fit, unit economics, scalability and returns, and the Company intends to grow without compromising balance-sheet strength.
4. Financial Performance Review
The financial performance of the Company during FY 2025-26 reflects continued execution of its long-term strategy of transforming into an integrated healthcare enterprise while maintaining prudent financial discipline. During the year, the Company continued to strengthen its healthcare portfolio through strategic investments across specialised healthcare segments, while simultaneously preserving financial flexibility to support future growth initiatives.
The Companys financial results should be viewed in the context of its ongoing strategic transformation. Investments undertaken during the year are intended to establish a scalable healthcare platform
capable of delivering sustainable long-term value. As these businesses mature and operational synergies are realised, the Company expects to strengthen its revenue base and enhance shareholder value over the medium to long term.
The Companys approach to capital allocation continues to remain disciplined, with investment decisions being evaluated on strategic relevance, scalability, financial prudence and long-term return potential. The monetisation of legacy real estate assets, together with prudent balance sheet management, continues to support the Companys investment strategy while maintaining financial resilience.
Financial Performance
Balance Sheet Summary
Statement of Financial Results (Standalone)
| Particulars | For the year ended 31 March 2026 | For the year ended 31 March 2025 |
| Income: | ||
| Revenue from Operations | 3,292.29 | 1,690.24 |
| Other Income | 2,049.26 | 1,128.24 |
| Total Income (1 + 2) | 5,341.55 | 2,818.48 |
| Expenses: | ||
| Change in inventories of stock in trade | 264.72 | 88.50 |
| Employee Benefit Expenses | 416.47 | 1,085.51 |
| Finance Cost | 3,154.31 | 361.80 |
| Depreciation and Amortisation expenses | 94.36 | 89.30 |
| Other Expenses | 1,001.39 | 1,068.23 |
| Total Expenses (4) | 4,931.25 | 2,693.34 |
| Profit Before Tax and Exceptional items (3 - 4) | 410.30 | 125.14 |
| Exceptional (Gain)/ Loss | 305.53 | 669.69 |
| Profit/ (Loss) Before Tax (5 - 6) | 104.77 | (544.55) |
| Tax Expenses | ||
| - Current Tax | - | - |
| - Deferred Tax | (34.92) | (168.73) |
| - Prior Period Deferred Tax | 67.37 | 12.75 |
| - Income Tax for Earlier Years | - | 1.83 |
| Total Tax Expenses (8) | 32.45 | (154.15) |
| Profit / (Loss) for the year (7 - 8) | 72.32 | (390.40) |
| Other Comprehensive Income | ||
| (A) Item that will not be reclassified to profit and loss | ||
| (i) Remeasurement of the defined benefit plans | 7.24 | (0.01) |
| (ii) Income tax expenses relating to the above | - | - |
| Subtotal - A | 7.24 | (0.01) |
| (B) Items that will be reclassified to profit or loss | ||
| (i) Fair value gain/(loss) on equity investments classified as FVTOCI | 309.49 | (83.37) |
| (ii) Income tax expenses relating to the above | - | - |
| Subtotal - B | 309.49 | (83.37) |
| Total Other Comprehensive Income / (Loss) for the year (Net of tax) | 316.73 | (83.38) |
| Total Comprehensive Income/ (Loss) for the year (9 + 10) | 389.05 | (473.78) |
| Earnings per equity share of (Face value of Rs.10 each) | ||
| - Basic (In Rs.) | 0.03 | (0.15) |
| - Diluted (In Rs.) | 0.03 | (0.15) |
Operational Performance and Capital Allocation
Operational Performance
During the year, the Company continued to make significant progress in executing its strategic priorities. The focus remained on strengthening the healthcare portfolio through investments in oncology, renal care and diagnostics, while simultaneously enhancing organisational capabilities, governance standards and leadership depth.
The proposed transition to Evervie Health Limited represents an important milestone in aligning the Companys corporate identity with its long-term strategic vision. This transformation is expected to provide greater strategic clarity and strengthen the Companys positioning within the healthcare sector.
The Company remains committed to building a diversified yet integrated healthcare platform, supported by specialised healthcare businesses capable of delivering sustainable clinical and financial outcomes.
Capital Allocation
The Company follows a disciplined capital allocation framework focused on long-term value creation. Capital deployment decisions
are based on strategic alignment, operational scalability, financial viability and expected returns over the investment lifecycle.
While healthcare remains the Companys primary growth platform, legacy real estate assets continue to provide financial flexibility and support future investments. The Company remains committed to deploying capital prudently while maintaining a healthy balance sheet and preserving liquidity for future growth opportunities.
Liquidity and Financial Position
The Company continues to maintain a prudent approach towards financial management through effective working capital management, disciplined capital allocation and continuous monitoring of liquidity requirements. Management remains focused on preserving financial flexibility while supporting strategic growth initiatives and maintaining an appropriate capital structure.
The Company believes that its financial position provides an adequate foundation to support future business expansion, strategic investments and long-term value creation.
Key Financial Ratios
1. Current Ratio
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Current Assets | 5,025.57 | 5,546.21 |
| Current Liabilities | 8,224.63 | 4,740.17 |
| Ratio (times) | 0.61 | 1.17 |
| % Change from previous year | -47.77% |
2. Debt-Equity Ratio
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Total Debt | 20,598.74 | 3,201.03 |
| Total Equity | 21,383.64 | 20,994.61 |
| Ratio (times) | 0.96 | 0.15 |
| % Change from previous year | 531.80% |
3. Debt-Service-Coverage Ratio
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Earnings available for debt service (Rs. lakh) | 3,287.40 | 376.97 |
| Total interest & principal due within next year (Rs. lakh) | 7,828.48 | 77.83 |
| Ratio (times) | 0.42 | 4.84 |
| % Change from previous year | -91.33% |
4. Return on Equity (ROE)
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Net profit after tax (Rs. lakh) | 72.32 | -390.4 |
| Average equity (Rs. lakh) | 21,189.13 | 21231.5 |
| ROE(%) | 0.34% | -1.84% |
| % Change from previous year | NM | - |
5. Inventory Turnover Ratio
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Cost of material consumed (Rs. lakh) | 192.75 | 88.5 |
| Average inventory (Rs. lakh) | 4,887.87 | 5,064.12 |
| Ratio (times) | 0.04 | 0.02 |
| % Change from previous year | 100.00% | - |
6. Trade Payables Turnover Ratio
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Net credit purchases (Rs. lakh) | 983.67 | 960 |
| Average trade payables (Rs. lakh) | 102.15 | 92.39 |
| Ratio (times) | 9.63 | 10.39 |
| % Change from previous year | -7.31% | - |
7. Net Capital Turnover Ratio
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Sales (Rs. lakh) | 3,292.29 | 1690.24 |
| Working capital (Rs. lakh) | -3,199.06 | 806.04 |
| Ratio (times) | -1.03 | 2.10 |
| % Change from previous year | NM | - |
8. Net Profit Ratio
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| Net profit after tax (Rs. lakh) | 72.32 | -390.4 |
| Sales (Rs. lakh) | 3,292.29 | 1,690.24 |
| Net-profit ratio (%) | 2.20% | -23.09% |
| % Change from previous year | NM | - |
9. Return on Capital Employed (ROCE)
| Particulars | As at 31 March 2026 | As at 31 March 2025 |
| EBIT (Rs. lakh) | 3,259.08 | -182.75 |
| Capital employed (Rs. lakh) | 33,481.05 | 31,347.96 |
| ROCE(%) | 9.73% | -0.58% |
| % Change from previous year | NM | - |
5. Opportunities and Outlook
Indias healthcare sector presents significant long-term growth opportunities, driven by favourable demographics, increasing life expectancy, rising prevalence of lifestyle-related diseases, expanding health insurance coverage and greater awareness of preventive healthcare. Continued public and private investment in healthcare infrastructure, together with rapid technological advancements, is expected to further strengthen the sectors growth trajectory.
The Company believes that specialty healthcare will continue to be one of the fastest-growing segments within the healthcare industry. Increasing demand for oncology, renal care, diagnostics, senior care and womens health services provides significant opportunities for healthcare providers capable of delivering integrated, patient-centric and technology-enabled solutions.
The Companys strategic focus on these high-growth segments positions it favourably to participate in Indias evolving healthcare landscape. Through its investments in specialised healthcare businesses and diagnostics, the Company is creating an integrated
healthcare platform designed to deliver sustainable clinical excellence while generating long-term shareholder value.
The Company will continue to evaluate strategic partnerships, acquisitions and organic growth opportunities that complement its longterm strategy while maintaining financial discipline and prudent capital allocation.
6. Risks and Concerns
Like any growing enterprise, the Company is exposed to various business risks arising from economic, regulatory, operational and industry-specific factors. The Company has established an enterprise-wide risk management framework to identify, evaluate and mitigate risks that may impact its strategic objectives.
Regulatory Risk
The healthcare industry operates within a comprehensive regulatory framework. Changes in healthcare regulations, licensing requirements,
quality standards or government policies may influence business operations. The Company continuously monitors regulatory developments and maintains a robust compliance framework to ensure adherence to applicable laws and regulations.
Acquisition and Integration Risk
The Companys growth strategy includes strategic investments and acquisitions. Successful integration of acquired businesses requires effective alignment of operations, people, technology and governance. Management follows structured integration plans to realise operational synergies while preserving business continuity.
Clinical and Operational Risk
Healthcare services require consistent adherence to clinical protocols, patient safety standards and quality management systems. The Company remains committed to maintaining high standards of clinical governance, operational excellence and patient care across its healthcare businesses.
Technology and Cybersecurity Risk
Digital technologies have become integral to healthcare delivery. Protecting patient information, maintaining data privacy and ensuring cybersecurity remain important priorities. The Company continues to
strengthen its information security framework and technology infrastructure to safeguard critical business and patient information.
Human Capital Risk
Healthcare delivery depends significantly on the availability of qualified medical professionals, clinical specialists and experienced management personnel. The Company continues to invest in talent acquisition, leadership development, employee engagement and professional development to build a strong and sustainable workforce.
Economic Risk
Macroeconomic conditions, inflation, interest rate movements and geopolitical developments may influence business sentiment and investment activity. The Companys diversified investment strategy, disciplined capital allocation and prudent financial management provide resilience against external economic uncertainties.
The Board and senior management periodically review the Companys risk profile and implement appropriate mitigation measures to strengthen organisational resilience and support long-term sustainable growth.
7. Internal Control Systems and their Adequacy
The Company has established internal control systems commensurate with the size, nature and complexity of its operations. These systems are designed to ensure orderly and efficient conduct of business, safeguarding of assets, accuracy and reliability of financial reporting, compliance with applicable laws and regulations, and effective risk management.
The Company has implemented appropriate policies, standard operating procedures and delegated authority frameworks across key business functions. Internal controls are periodically reviewed to ensure their continued effectiveness and alignment with evolving business requirements.
The Internal Audit function independently evaluates the adequacy and effectiveness of internal controls, governance processes and risk management practices. The Audit Committee periodically reviews the reports submitted by the auditors, and monitors the implementation of corrective actions wherever required.
The Audit Committee continues to provide oversight over the Companys financial reporting process, internal control environment and statutory compliance framework, thereby strengthening transparency, accountability and corporate governance.
Management believes that the existing internal control systems are adequate and operating effectively.
8.Human Resources
The Company recognises that its people are fundamental to achieving its long-term strategic objectives. As the organisation continues its transformation into an integrated healthcare enterprise,
strengthening leadership capabilities, building organisational excellence and fostering a performance-oriented culture remain key priorities.
During the year, the Company continued to strengthen its leadership team by inducting professionals with extensive experience across healthcare, finance, strategy, operations and corporate governance. These appointments further enhance the Companys ability to execute its strategic priorities and manage an increasingly diversified healthcare portfolio.
The Company is committed to creating an inclusive, collaborative and merit-based work environment that encourages innovation, continuous learning and professional development. Employee engagement, capability building, ethical conduct and performance excellence remain integral components of the Companys people strategy.
The relations with the employees remained cordial throughout the year.
9. Outlook
The Company believes that the Indian healthcare sector is entering a period of sustained structural growth driven by demographic transformation, increasing healthcare awareness, expanding insurance coverage, technological innovation and rising demand for specialised healthcare services.
The proposed transition to Evervie Health Limited reflects the Companys strategic aspiration to build a focused and integrated healthcare platform capable of delivering high-quality speciality care across carefully selected healthcare segments. The Companys investments
in oncology, renal care and diagnostics have established the foundation upon which future growth initiatives will be built.
Going forward, the Company will continue to focus on strengthening its healthcare platform through disciplined capital allocation, operational excellence, strategic partnerships and governance-led growth. The Company remains committed to creating sustainable value for all stakeholders while maintaining high standards of corporate governance, ethical business practices and financial discipline.
With a strengthened leadership team, an evolving healthcare portfolio and a clear long-term strategy, the Company believes it is well positioned to participate in Indias rapidly expanding healthcare ecosystem and deliver sustainable long-term growth.
10. Cautionary Statement
Statements in this Management Discussion and Analysis describing the Companys objectives, projections, estimates, expectations or predictions may constitute "forward-looking statements" within the meaning of applicable laws and regulations. Actual results may differ materially from those expressed or implied due to various factors including, but not limited to, changes in economic conditions, government policies, regulatory developments, market dynamics, competitive environment and other risks and uncertainties beyond the Companys control.
The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances unless required by applicable laws or regulations.
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