Royalcare Super Speciality Hospitals Shares

Annual Report Summary

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.