Royalcare Super Speciality Hospitals Shares Annual Reports

Royalcare Super Speciality Hospitals Shares

Royalcare Super Speciality Hospital Limited 12th Annual Report Summary (2023-2024) **Overview:** The document is the 12th Annual Report for Royalcare Super Speciality Hospital Limited for the financial year 2023-2024, encompassing the Chairman’s message, notices to shareholders, director’s report, audit reports (secretarial and independent auditor), and financial statements. **Chairman's Message:** The hospital is striving to become the leading private hospital in western Tamilnadu. The hospital is expanding with 104 individual rooms in a new block, with further expansion expected to add 373 rooms, creating a 1 lakh square foot modern healthcare facility. The hospital is investing over ₹1 crore in new HIMS software for paperless operations. The hospital has added two 2-wheeler ambulances and four fully equipped regular ambulances. The hospital has purchased Biofire and maldi Tof equipment for the Microbiology department to diagnose infections 10 times faster. The hospital has started a MEM course in Emergency Medicine with 4 seats every year from 2024. The hospital invested ₹3 crores in flow cytometry and a bone marrow transplant unit. **Notice to Shareholders:** The 12th Annual General Meeting will be held on September 28, 2024, in Coimbatore to transact business including adopting the audited financial statements, appointing directors, and re-appointing the cost auditor, CMA. G. Sivagurunathan, for the financial year 2024-25 with a remuneration of ₹1,00,000 plus GST and out-of-pocket expenses. Approval for material related party transactions with M/s. Sabari Constructions Technologies Private Ltd for hospital expansion (₹180 Crores) and M/s. RMC Medical Services Private Ltd for purchase of medicines/surgical items (₹85 Crores) will be sought. Remote e-voting will be available from September 25 to September 27, 2024, and CS. R. Mahalingam has been appointed as the scrutinizer. **Directors' Report:** The directors are presenting their 12th annual report with audited accounts for the year ended March 31, 2024. The company reported a turnover of ₹33792.64 Lakhs compared to the previous year's ₹31064.95 Lakhs and earned a profit of ₹2448.15 lakhs against a profit of ₹1567.51 lakhs the previous year. No dividend is recommended due to inadequate accumulated profit. Cash and Cash equivalents as of March 31, 2024, are ₹2724.94 Lakhs. The company did not accept any deposits from the public during the year. The company has an internal control system and there were no significant orders passed by regulators/courts. There was no change in the nature of the business and there were no material changes affecting the financial position of the company. The company complied with secretarial standards, received declarations of independence from independent directors, and doesn't have a Risk Management Policy. The authorized share capital increased from ₹200.00 Crores to ₹250 Crores. Paid up Share capital increased from ₹164,37,69,430 to ₹171,01,77,680. The company has “IVR BBB –“ credit rating for long-term bank facilities. The hospital has obtained NABH certification. **Committees:** The Audit Committee consists of Sri. K. Muthusamy (Chairman), Dr. S.P. Thiruppathy, Sri. M.P. Prabhu, and Sri. K.K. Chandrasekar. The Nomination and Remuneration Committee consists of Sri. K. Muthusamy (Chairman), Dr. S.P. Thiruppathy, Sri. K.M. Subramanian, and Dr. P. Selvaraj (upto 16.08.2024), with Sri. T. Balachander replacing Dr. Selvaraj. The Corporate Social Responsibility Committee consists of Sri. K. Muthusamy (Chairman), Sri. K.P. Alagesan, and Sri. T. Balachander. The company contributed ₹27.38 Lakhs towards CSR activities. **Key Managerial Personnel:** Dr. K. Madeswaran, Sri.T. Balachander, and CS. K. Rangasamy. The directors retiring by rotation include Mr. K.K. Chandrasekar, Mr. M.P. Prabhu, and Dr. P. Chokkalingam. Dr. P. Selvaraj resigned from the board effective August 16, 2024. M/s. JSR AND CO, Chartered Accountants, Tirupur, is the statutory auditor for five years (FY 2022-23 to 2026-27). CA.P. Vishnu Adithan is the Internal Auditor. CMA.G. Sivagurunathan, is the Cost Auditor. CS.R. Mahalingam is the Secretarial Auditor. **Other Points:** The company has taken measures to reduce energy consumption and has invested ₹506.23 Lakhs in medical equipment. All transactions with related parties were in the ordinary course of business and on an arm's length basis, approved by the Audit Committee. **Secretarial Audit Report:** Royalcare Super Speciality Hospital Limited complied with the statutory provisions and adhered to good corporate practices, with proper Board processes and compliance mechanisms in place. **Independent Auditors' Report:** The financial statements give a true and fair view of the company's state of affairs as of March 31, 2024, and its profit and cash flows for the year ended on that date, in conformity with accounting principles generally accepted in India. There are instances of certain dues of Income-Tax, Customs Duty, Sales Tax, Service Tax, Goods and Service Tax, Value Added Tax, Excise Duty and Cess that are under dispute. The company is using an accounting software with a feature of recording audit trail (edit log).

Royalcare Super Speciality Hospitals Shares

Royalcare Super Speciality Hospital Limited - 11th Annual Report Summary: **Overview:** The document is the 11th Annual Report for 2022-23 of Royalcare Super Speciality Hospital Limited, a company with CIN: U85100TZ2012PLC018984, located in Coimbatore, Tamilnadu. The report includes the Chairman's message, notices to shareholders, director's report, auditor's reports, financial statements, and other annexures. **Chairman's Message:** The Chairman's message highlights a successful year and emphasizes the hospital's commitment to providing excellent patient care and engaging with the community. Noteworthy achievements include introducing CMR Robotics Surgery for the first time in Coimbatore (costing 6.72 crores) and the installation of 4K Laparoscopic Surgery equipment. They also opened a new state-of-the-art IVF lab sprawling over 7000 square feet. **Notice to Shareholders:** The notice announces the 11th Annual General Meeting (AGM) to be held on September 23, 2023, at the hospital's registered office. The agenda includes adopting audited financial statements for the year ended March 31, 2023, appointing directors who retire by rotation (Mr. K.M.Subramanian, Dr.S.Kalyanakumari, and Dr.S.Paulvannan), modifying the tenure of M/s. JSR AND CO., Chartered Accountants as Statutory Auditors and re-appointing Mr. K. Muthusamy as an Independent Director. Special business also encompasses approval for material related-party transactions. Further resolutions deal with increasing the authorized share capital of the company from ₹ 200,00,00,000 to ₹ 250,00,00,000 and altering the capital clause in the Memorandum of Association. E-voting facilities are available to members. **Director's Report:** Key highlights from the Director's Report: * The company's turnover was ₹ 31064.95 Lakhs for the year, compared to ₹ 30537.33 Lakhs in the previous year. Profit was ₹ 1567.51 lakhs, down from ₹ 2123.19 lakhs the previous year. * Directors do not recommend any dividend due to inadequate accumulated profit. * Cash and cash equivalents stood at ₹ 504.38 Lakhs. * The company did not accept any public deposits. * The company has an Internal Control System in place. * No significant orders were passed by regulators or courts that would impact the company's operations. * There were no qualifications, reservations, or adverse remarks made by the auditors or the practicing company secretary. * There have been no frauds reported by the auditors pursuant to Section 143 (12) of the Companies Act, 2013. * Six Board meetings were held during the year. * Dr.S.Paulvannan, Mr. K.M.Subramanian and Dr.S.Kalyanakumari are retiring by rotation. * The authorized share capital has increased from ₹ 175.00 Crores to ₹ 200 Crores during the year. * Infomerics Valuation and Rating Private Ltd (IVR) has affirmed the Credit Rating of your company's Long term bank facilities ‘IVR BBB' -Revised. * The hospital has obtained NABH Certification. * The company contributed ₹ 5.42 Lakhs, being 2% of the last three years' average net profit, towards CSR activities. * Introduced CMR Robotics surgery equipment in Coimbatore for the first time at a cost of ₹ 672.67 Lakhs. * Investment in Medical Equipment amounts to ₹ 917.64 Lakhs. * Total Foreign Exchange used is Nil during the year. Total Foreign Exchange earned is ₹ 204.73 lakhs. * The company provided a Corporate Guarantee an amount of ₹ 35.69 Crores to HDFC Bank Ltd on behalf of M/s. RMC Medical Services Private Ltd * The company has set up vigil mechanism for Directors and Employees to report their genuine concerns. No complaints or concerns were received by the Chairman of the Audit Committee under the Vigil Mechanism. **Explanatory Statement:** The statement provides further details on resolutions to be passed at the AGM. It clarifies details about the re-appointment of Mr. K. Muthusamy as an Independent Director and the appointment of CMA G. Sivagurunathan as the Cost Auditor. It also discusses related party transactions with M/s. Sabari Construction Technologies Private Ltd and M/s. RMC Medical Services Private Ltd and increasing the authorized share capital. **Financial Statements Analysis:** * **Balance Sheet:** As of March 31, 2023, the company's total equity and liabilities were ₹ 42,066.25 Lakhs, and the assets were also ₹ 42,066.25 Lakhs. The authorized capital stood at ₹ 16,437.69 Lakhs * **Statement of Profit & Loss:** For the year ended March 31, 2023, the total income was ₹ 31,064.95 Lakhs, and the total expenses were ₹ 29,508.68 Lakhs, resulting in a profit before tax of ₹ 1,556.27 Lakhs and a profit for the year of ₹ 1,567.51 Lakhs. * **Cash Flow Statement:** Net cash generated from operating activities was ₹ 5896.24 Lakhs, used in investing activities amounted to ₹ (2590.06) Lakhs and used in financing activities was ₹ (3632.83) Lakhs **Auditor's Report:** The Independent Auditor's Report confirms that the financial statements give a true and fair view of the company's affairs. Key audit matters are addressed within the context of the overall audit. The report also includes annexures detailing compliance with the Companies (Auditor's Report) Order, 2020, and provides a report on internal financial controls over financial reporting. There were no pending litigations. **Key Officers and Directors:** The report lists the Board of Directors including Dr. K. Madeswaran (Chairman Cum Managing Director), Dr. K. Chockalingam, and several other directors including independent directors and the key managerial personnel like Sri. T. Balachander (Director Finance Cum CFO), and CS K. Rangasamy (Company Secretary). **Corporate Social Responsibility:** During the year 2022-23 in pursuance of the recommendations of the CSR Committee, the Company had contributed 5.42 Lakhs being 2% of the last three years' average net profit of the Company towards implementing the CSR activities.

Royalcare Super Speciality Hospitals Shares

Royalcare Super Speciality Hospital Limited's 9th Annual Report for 2020-21 includes a notice to shareholders for the Annual General Meeting to be held on September 25, 2021, discussing ordinary business like adopting financial statements and appointing directors (Dr.V.R.Pattabhiraman, Dr.N.Sudhakar, and Dr.M.Sudhakaran who retire by rotation and offer themselves for reappointment). Special business includes the appointment of Mr. T.Balachander as Director Finance and fixing his remuneration which is ₹2,00,000/- per month and the appointment of CMA G. Sivagurunathan as Cost Auditor for the financial year 2021-22 with a remuneration of ₹1,00,000 per annum plus GST and out-of-pocket expenses. The Director's Report highlights financial results, revealing an increase in turnover from ₹174.55 Crores to ₹224.04 Crores, with a profit of ₹4.16 Crores compared to a loss of ₹17.23 Crores the previous year. No dividend is recommended. Cash and cash equivalents as of March 31, 2021, stand at ₹331.20 Lakhs. The company has not accepted any public deposits. The report affirms the Directors' responsibility for the annual accounts' preparation in accordance with accounting standards and that the annual accounts are prepared on a going concern basis. The board of Directors met seven times during the financial year. The report includes details of directors' attendance at Board Meetings, Committee Meetings, and the Annual General Meeting. Key Managerial Personnel are Dr.K. Madeswaran, Sri.T. Balachander, and CS. K. Rangasamy. The report discusses the appointment of CA.P.Vishnu Adithan as Internal Auditor and CMA .G.Sivagurunathan as Cost Auditor. CS.R.Mahalingam is appointed as the Secretarial Auditor. The company affirms it has not bought back any of its securities and that authorized share capital remained unchanged during the year. Infomerics Valuation and Rating Private Ltd (IVR) has affirmed a credit rating of 'IVR BBB-' for long-term bank facilities and 'IVR A3' for short-term bank facilities. The hospital has made arrangements to obtain NABH Certification. Audit Committee and Nomination & Remuneration Committee compositions are detailed. There is no Corporate Social Responsibility Committee. No employees qualify for remuneration disclosure under Section 134 (3) of the Companies Act, 2013. There was a foreign exchange earning of ₹48.62 Lakhs, and the company has invested ₹26,00,000/- in M/s. VVSR Green Energy Private Ltd. The company provided an unsecured loan of ₹5.00 Crores to M/s. VVSR Green Energy Private Ltd. There was one complaint received related to the Sexual Harassment of Women at Workplace Act, 2013. The Secretarial Audit Report (Form MR-3) states that the company has complied with statutory provisions and adheres to good corporate practices. The Independent Auditor's Report confirms a true and fair view of the company's financial position as of March 31, 2021. Key audit matters were addressed in the context of the audit of the financial statements as a whole. The auditor's report includes Annexure "A" detailing points on fixed assets, inventory verification, loans, compliance with Sections 185 and 186 of the Companies Act, 2013, cost records and statutory dues. Also, there is Annexure "B" outlining internal financial controls over financial reporting, concluding that the company has an adequate system in place and operating effectively. The extract of the annual return in form MGT-9 provides details on registration, principal business activities, and shareholding patterns. The financial statements include the Balance Sheet, Profit & Loss Statement, and Cash Flow Statement, accompanied by detailed notes. A significant portion of the report pertains to detailed schedules outlining fixed assets, investments, loans, shareholding patterns, and financial performance metrics, including a reconciliation of equity share capital, details of shareholders, and indebtedness.