Veeda Clinical Research Limited Shares

Financial Report Summary

The document is a consolidated financial statement for Veeda Clinical Research Limited, covering the period from April 1, 2022, to March 31, 2023. It includes a disclosure of general information about the company, such as its name, corporate identity number, permanent account number, registered office address, and type of industry. It also contains detailed auditor's report disclosures and independent auditor's reports.

Auditor's Report and Financial Statements:

• Independent Auditor's Report: SRBC & CO LLP audited the consolidated financial statements and issued an independent auditor’s report.
• Financial Statement Components: The financial statements comprise the consolidated balance sheet as of March 31, 2023, the consolidated statement of profit and loss (including other comprehensive income), the consolidated cash flow statement, and the consolidated statement of changes in equity for the specified period.
• Audit Opinion: An unmodified opinion was issued, stating that the financial statements give a true and fair view in conformity with accounting principles generally accepted in India, based on the audit and consideration of reports from other auditors.
• Information Presented: Financial data is presented in millions of INR unless otherwise specified.
• Independent Auditors: Confirms that adequate audit evidence was obtained for the audit opinion. Mentions reliance on other auditors for specific components.

Balance Sheet Summary (Assets):

• Non-Current Assets (March 31, 2023): Totaling 4,405.74 million INR, including property, plant, and equipment (2,137.66 million), capital work-in-progress (186.95 million), goodwill (1,080.58 million), other intangible assets (220.37 million), intangible assets under development (39.75 million), and financial assets and deferred tax assets, other non-current assets.
• Current Assets (March 31, 2023): Totaling 2,941.92 million INR, including inventories (71.08 million), current investments, trade receivables, and current financial assets, and other current assets.

Balance Sheet Summary (Equity & Liabilities):

• Equity (March 31, 2023): Totaling 4,629.33 million INR, with 4,571.6 million attributable to owners of the parent company and non-controlling interest of 57.73 million. Breakdown provided for equity share capital and other equity.
• Non-Current Liabilities (March 31, 2023): Totaling 908.39 million INR, including non-current borrowings, trade payables, and other financial liabilities.
• Current Liabilities (March 31, 2023): Totaling 1,809.94 million INR, including current borrowings, trade payables, and other financial liabilities.

Statement of Profit and Loss Summary:

• Total Income (Year Ended March 31, 2023): 4,202.11 million INR, including revenue from operations (4,095.78 million) and other income (106.33 million).
• Total Expenses (Year Ended March 31, 2023): 3,580.64 million INR.
• Profit Before Tax (Year Ended March 31, 2023): 621.47 million INR.
• Tax Expense: Details related to current and deferred tax are provided.
• Profit for the Period (Year Ended March 31, 2023): 450.9 million INR.
• Earnings Per Share: Basic and diluted earnings per share are provided (7.58 INR/share and 7.57 INR/share, respectively).

Other Key Information:

• Auditor's Report Order (CARO): Mentions compliance with the Companies (Auditor's Report) Order. Qualifications and adverse remarks are detailed.
• Internal Financial Controls: A separate report on the adequacy and operating effectiveness of internal financial controls is included as an annexure.
• Related Party Transactions: Transactions with key management personnel, associates, and other related parties are disclosed, including names, relationships, and transaction amounts.
• Contingent Liabilities: Relates to income tax, service tax, goods and services tax and custom duty matters.
• Accounting Policies: The document describes the significant accounting policies adopted in the preparation of the financial statements, including revenue recognition, leases, and valuation of assets.
• Future application Mentions certain amendments to standards that are issued, but not yet effective, up to the date of issuance of the Company’s standalone financial statements.

Subsidiaries and Joint Ventures:

• Lists the subsidiaries, step-down subsidiaries, and joint ventures included in the consolidated financial statements, specifying their nature of relationship, ownership percentages, and managerial activities.

• Subsidiaries include Bioneeds India Private Limited , Amthera Life Sciences Private Limited, Activin Chemicals & Pharmaceuticals Private Limited. The joint ventures is Ingenuity Biosciences Private Limited.

This summary encapsulates all the significant information detailed in the provided financial statements.