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Directors Report of Dhanvantri Jeevan Rekha Ltd.

Mar 31, 2015

Dear Members

The Directors have the pleasure in presenting the 22nd Annual Report of the company together with Financial Statements for the year ended on 31st March 2015.

FINANCIAL & OPERATIONAL REVIEW:

FINANCIAL RESULTS:

(Rs in L; cs)

S. No. Financial Heads Year ended YeaR ended 31.03.2015 31.03.2014

1. Operating Income 797.40 72608

2. Other Income 44.00 2 0

3. Gross Profits before depreciation & interest 193.05 157.86

4. Interest 4.25 108

5. Gross Profits after interest but before depreciation 188.80 156.78

6. Depreciation 36.33 67.06

7. Profit Before Tax 152.47 89.72

8. Provision for Taxation (net) 45.30 30.72

9. Deferred Tax Provision 0.34 3.26

10. Profit after Tax 106.83 55.74

11. Prior Period Item Adjusted - 3.73

12. Balance after taxation carried over to the Balance Sheet 106.83 52.01

During the year under review the revenue of the company has increased to Rs. 797 Lac from Rs. 726 Lacs in the previous year registering growth of 10%. The profit after tax stood at Rs. 106.83 Lac against Rs 55.74 lacs in the previous year showing impressive increase of 52%.

FUTURE OUTLOOK

In view of full occupancy In the Hospital the company had already commenced Its expansion project in the previous year. The work is in full flow and the management is of the view that the new Hospital Building will become operational during the current year.

DIVIDEND & RESERVES:

Keeping In view the requirement of resources for up-gradation and of the hospital facilities and the capital intensive expansion project, no dividend has been proposed during the year under review.

The Company proposes to transfer Rs 106.83 lacs to reserve and surplus resulting into aggregate reserve and surplus of Rs. 429.45 Lac as against Rs. 250.04 Lac retained in the reserve and surplus during the preceding previous year.

SHARE CAPITAL:

The paid up equity capital as on March 31, 2015. was Rs.409.84 Lacs. During the year under review, the Company has not issued shares with differential voting rights nor granted stock options nor sweat equity.

SUBSIDIARY:

The company is not having any subsidiary or associate company as on 31.03.2015.

DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to the provisions contained in Section 134 (5) of the Companies Act, 2013, your Directors to the best of their knowledge and belief and according to Information and explanations obtained from the management, confirm that:

- In the preparation of the annual accounts for the financial year ended March 31, 2015, the applicable accounting standards have been followed and there are no material departures from the same;

- The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2015 and of the loss of the Company for the year ended on that date;

- The Directors have taken proper and sufficient care 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;

- The Directors have prepared the Annual Accounts on a going concern basis.

- The Directors have laid down proper internal financial controls to be followed by the Company and such controls are adequate and operating effectively.

- The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

FIXED DEPOSITS:

No fresh deposits were accepted after April 1,2014. The Company did not have any unclaimed or overdue deposits as on March 31, 2015.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

In accordance with the provisions of Section 152 of The Companies Act, 2013, Dr. V.S. Phull and Mrs. Shalini Sharma Directors are liable to retire by rotation in ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

Your Directors recommend for their appointment/re-appointment None of the Directors of your Company is disqualified as per provisions of section 164 of the Companies Act, 2013 During the year Dr. S.K. Khatri, one of the founder promoter Director of the company died on 12.11.2014. The company places on record the contribution made by Dr. S.K. Khatri towards the progress of the company.

The information on the particulars of Directors seeking re-appointments as required under Clause 49 of the Listing Agreement executed with the Stock Exchanges, have been given under Corporate Governance report forming part of this report Dr. V.S. Phull, Managing Director, Mr. Pankaj Gupta, Company Secretary and Mr. Dhanendra Jain, Chief Financial Officer are the KMPs of the Company as per the provisions of The Companies Act, 2013 A Board met five times during the financial year 2014-15, 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.

In accordance with the provisions of Section 134 of the Act and Clause 49 of the Listing Agreement, the Board has carried out an evaluation of its own performance, the performance of Committees of the Board, namely, Audit Committee, Stakeholders Relationship Committee and Nomination and Remuneration Committee and also the directors individually. The manner in which the evaluation was carried out and the process adopted has been mentioned in the Corporate Governance Report.

The Board, on the recommendation of the Nomination & Remuneration Committee, has framed a policy for selection and appointment of Directors, Senior Management and their remuneration and also framed the criteria for determining qualifications, positive attributes and independence of directors. A hard copy of the Remuneration Policy and criteria for Board nominations may inspect the same at the Registered Office of the Company or write to the Company Secretary for a copy.

STATEMEHT ON DECLARATION GIVEN BY THE INDEPENDENT DIRECTORS:

As under Section 149 (7) of the Companies Act, 2013, all the Independent Directors have given their respective declarations that meet the criteria of independence as specified in Section 149 (6) of the Companies Act, 2013.

AUDITORS AND AUDITORS REPORT:

M/s K.K. Jain & Co., Delhi, the statutory auditors of the company retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. They have confirmed that their appointment, if made, shall be in accordance with the provisions of Section 139(1) of the Act read with Companies (Audit and Auditors) Rules, 2014 and that they satisfy the criteria given under Section 141 of the Act. They have also confirmed that they hold a valid peer review certificate as prescribed under Clause 41(l}(h) of the Listing Agreement.

There is no observation or qualification or adverse remark made in the Auditors' Report read together with relevant notes thereon.

COST AUDITORS:

The company is not required to appoint cost auditor as per Section 148 of the Companies Act, 2013.

SECRETARIAL AUDITOR

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s R.K. Singhal & Associates, Company Secretaries in practice as the Secretarial Auditor to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit is given in Annexure-A to this Report. There are no qualifications, reservations or adverse remarks or disclaimers made by the Secretarial Auditors in their report.

COST AUDITORS:

The company is not required to appoint cost auditor as per Section 148 of the Companies Act, 2013.

SECRETARIAL AUDITOR

PuRs,»,-3flt to the provisions of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Mi. gerial Personnel) Rules, 2014, the Company has appointed M/s R.K. Singhal & Associates, Company Secretaries in practice as the Secretarial Auditor to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit is given in Annexure-A to irftjs Report.

There are no qualifications, reservations or adverse remarks or disclaimers made by the Secretarial Auditors in their report.

RISK MANAGEMENT

As required under Clause 49 of the Listing Agreement, the provisions of Clause 49 (VI) (C) as given in Part- B i.e. Constitution of Risk Management Committee shall be applicable to top 100 listed Companies by market capitalization as at the end of the immediate financial year. As the Company not fall under the category of top 100 listed Companies, the Company is not required to constitute a Risk Management Committee.

The Company has a mechanism to identify, assess, monitor and mitigate various risks to its key business objectives. Major risks identified by the business and functions are systematically addressed through mitigating actions on a continuing basis.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has adequate Internal Financial Controls with proper checks to ensure that transactions are properly authorized, recorded and reported apart from safeguarding its assets. These systems are reviewed and improved on a regular basis. It has a comprehensive budgetary control system to monitor revenue and expenditure against approved budget on an ongoing basis. The internal auditors "M/s A.K. Rana & Associates", of the Company reviews the controls across the key processes and submits reports periodically to the Management and significant observations are also presented to the Audit Committee for review. Follow up mechanism is in place to monitor the implementation of the various recommendations.

CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES

As the Company does not fait under any of the threshold limits given under section 135 of the Companies Act, 2013, the provisions of Corporate Social Responsibility are not applicable to the Company.

RELATED PARTY TRANSACTIONS

All contracts/arrangements/transactions entered into during the financial year with the related parties were on arm's length basis and were in the ordinary course of business. Section 188(1) of the Companies Act, 2013 exempts related party transactions that are in the ordinary course of business and are on arm's length basis. There are no material Related Party Transactions during the year under review that require approval of the shareholders through special resolution. The Board of Directors and the Audit Committee have also approved the all other related party transactions.

There are no materially significant related party transactions with the promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large.

The details of contracts/arrangements with related parties as required to be disclosed in Form-AOC-2 is not applicable on the Company.

MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement Rs form part of this Annual Report.

DISCLOSURES Committees of the Board

During the year in accordance with the Companies Act, 2013 the Board re-constituted/re-named some of its Committees and presently the Company has the following Committees:

i. Audit Committee

ii. Nomination and Remuneration Committee

iii. Stakeholders Relationship Committee The details of all the Committees along with their composition, terms of reference and meetings held during the year are provided In the "Report on Corporate Governance" forming part of this Annual Report.

Vigil Mechanism & Whistle Blower Policy

The Company has established a Vigil Mechanism that enables the Directors and Employees to report genuine concerns. The Vigil Mechanism provides for (a) adequate safeguards against victimization of persons who use the Vigil mechanism; and (b) direct access to the Chairperson of the Audit Committee of the Board of Directors of the Company in appropriate or exceptional cases. Details of the Vigil Mechanism policy are made available on the Company's website www.dirl.ore.in

Conservation of Energy

Your company is not covered by the Schedule of industries under Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 requiring furnishing of information regarding conservation of energy. However, the company does lay a great deal of emphasis on conservation of energy in all phases of operation.

Technology Absorption:

Not Applicable

Foreign Exchange Earnings and Outgo:

a) Foreign exchange Earnings : NIL

b) Foreign exchange Outgo : NIL

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

During the financial year 2014-15, the company has neither made any investment nor given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013.

PARTICULARS OF EMPLOYEES:

The information required pursuant to Section 197 read with Rule, 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company, will be provided upon request. In terms of Section 136 of the Act, the Report and Accounts are being sent to the Members and others entitled thereto, excluding the information on employees particulars which is available for inspection by the Members at the Registered Office of the Company during business hours on working days of the Company up to the date of the ensuing Annual General Meeting. If any Member is interested In obtaining a copy thereof, such Member may write to the Company Secretary in this regard.

EXTRACT OF THE ANNUAL RETURN

The details of the extract of the Annual Return in Form MGT-9 are given in Annexure-B to this Report.

PERSONNEL RELATIONS

Your directors hereby place on record their appreciation for the services rendered by the executives, staff and workers of the Company for their hard work, dedication and commitment. During the year under review, relations between the employees and the management continued to remain cordial.

CORPORATE GOVERNANCE:

The Company has complied with the guidelines prescribed by the Stock Exchanges on Corporate Governance. The Company has constituted Audit Committee, Share Transfer Committee and Investors' Grievances Redressal Committee. The details of compliance made by the Company along-with a certificate from the Auditors and Management Discussion and Analysis are as per Annexure - "C and "D" respectively forming part of this report.

LISTING ON STOCK EXCHANGE:

The company's securities are listed on The Uttar Pradesh Stock Exchange Association Ltd., Kanpur, The Stock Exchange, Mumbai and The Stock Exchange Association Ltd., Delhi. The company has paid the listing fee for all the stock exchanges for the financial year 2014- IS and has complied with all the requirements of the listing agreement.

ACKNOWLEDGEMENT:

The Directors wish to place on record their sincere appreciation for the committed and dedicated services of the employees of the Company. The Board also wishes to thank the Doctors, Specialist in Medical Field, Bankers for placing their trust on the Company and encouragement they extend to the Company. The Board places on record their thanks to the shareholders and the patient public for the confidence reposed by them In the Company and their appreciation for the services.

By Order of the Board of Directors



Sd/- Sd/-

Placs: Meerut (Dr. V. S. Phull) (Mr. Premjlt Singh Kashyap)

Date; 08.08.2015 Managing Director Chairman


Mar 31, 2014

Dear Members

The Directors have the pleasure in presenting the 21st Annual Report of the company together with Financial Statements for the year ended on 31st March 2014.

FINANCIAL & OPERATIONAL REVIEW:

FINANCIAL RESULTS:

(Rs in Lacs)

S. No. Financial Heads Year ended Year ended 31.03.2014 31.03.2013

1. Operating Income 726.08 575.25

2. Other Income 25.00 19.24

3. Gross Profits before depreciation & 157.86 168.05 interest

4. Interest 1.08 2.31

5. Gross Profits after interest but before 156.78 165.74 depreciation

6. Depreciation 67.06 64.47

7. Profit Before Tax 89.72 101.27

8. Provision for Taxation (net) 30.72 28.40

9. Deferred Tax Provision 3.26 (11.17)

10. Profit after Tax 55.74 84.04

11. Prior Period Item Adjusted 3.73 0.00

12. Balance after taxation carried over to the 52.01 84.04 Balance Sheet

During the year under review the;revenue of the company has increased to Rs. 726 Lac from Rs. 575 Lacs in the previous year registering impressive growth of 26%. The profit after tax stood at Rs. 55.70 Lac against Rs 84.04 lacs in the previous year. The net profit of the compahy has not increased proportionate to the revenues due to higher administrative expenses and increased provision for deferred tax liability as against deferred tax asset in the previous year consequent to higher depreciation chargeable in books of''accounts under SLM as compared to depreciation charged in Income Tax under WDV method.

The Company proposes to transfer Rs 52.01 lacs to reserve and surplus resulting into aggregate reserve and surplus of Rs. 250.04 Lac as against Rs. 198.03 Lac retained in the reserve and surplus during the preceding previous year and Loss.

In order to add comfort to patients, significant renovation and up gradation was undertaken during the year. This has enhanced not only patient care but also facilitated achieving more operational efficiencies.

FUTURE OUTLOOK

The management is focusing its attention to further strengthen its infrastructure and other facilities. The present capacity of the hospital is almost fully utilized, in view of the same the Company had acquired the land for expansion of hospital which is situated adjacent to the existing hospital building. A major expansion has been embarked by the hospital.1

DIVIDEND:

Keeping in view the requirement of resources for up-gradation of the hospital facilities, it is proposed to skip the payment of dividend.

AUDITORS:

M/s K.K. Jain & Co., Delhi, the statutory auditors of the company retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. They have confirmed that their appointment, if made, shall be in accordance with the provisions of Section 139(1) of the Act read with Companies (Audit and Auditors) Rules, 2014 and that they satisfy

the criteria given under Section 141 of the Act. They have also confirmed that they hold a valid peer review certificate as prescribed under Clause 41(l)(h) of the Listing Agreement. ,

CORPORATE GOVERNANCE: ''

The Company has complied with the guidelines prescribed by the Stock Exchanges on Corporate Governance. The Company has constituted Audit Committee, Share Transfer Committee and Investors'' Grievances Redressal Committee. The details of compliance made by the Company along-with a certificate from the Auditors and Management Discussion and Analysis are as per Annexure - "A" and "B" respectively forming part of this report.

DIRECTORS:

In accordance with the provisions of Section 152 of The Companies Act, 2013, Dr. S.K. Khatri, Dr. S.P. Mithal, Dr. S.P. Gupta and Mrs. Meenakshi Elhence, Directors are liable to retire by rotation in ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

Mr. Premjit Singh Kashyap, Mr. Abhimanyu Arora, Independent Directors of the Company, retires by rotation and are recommended for re-appointment as Independent Directors.

Your Directors recommend for their appointment/re-appointment. None of the Directors of your Company is disqualified as per provisions of section 164 of the Companies Act, 2013

Ms. Priyanka Sharma has resigned from the Directorship of the Company, Mr. Ashok Kumar Singh Chaudhary has been appointed as an Independent Director of the Company in place of her, subject to approval of the shareholders in the Annual General Meeting of the Company

The information on the particulars of Directors seeking re-appointments as required under Clause 49 of the Listing Agreement executed with the Stock Exchanges, have been given under Corporate Governance (Annexure "A") of this report.

LISTING ON STOCK EXCHANGE:

The company''s securities are listed on The Uttar Pradesh Stock Exchange Association Ltd., Kanpur, The Stock Exchange, Mumbai and The Stock Exchange Association Ltd., Delhi. The company has paid the listing fee for all the stock exchanges for the financial year 2013-14 and has complied with all the requirements of the listing agreement.

INFORMATION AS PER SECTION 217(l)(e) READ WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988 & FORMING PART OF THE DIRECTORS'' REPORT FOR THE YEAR ENDED ON 31ST MARCH 2014

A. CONSERVATION OF ENERGY:

Your company is not covered by the Schedule of industries under Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 requiring furnishing of information regarding conservation of energy. However, the company does lay a great deal of emphasis on conservation of energy in all phases of operation.

B. TECHNOLOGY ABSORPTION : Not Applicable

C. FOREIGN EXCHANGE EARNINGS AND OUTGO:

a) Foreign exchange Earnings : NIL

b) Foreign exchange Outgo : NIL

RESPONSIBILITY STATEMENT OF THE BOARD OF DIRECTORS as required under section 217(2AA) of The Companies Act, 1956

Pursuant to the requirement U/s 217(2AA) of The Companies Act, 1956 with respect to Directors'' Responsibility statement it is hereby confirmed:

i) That in the preparation of accounts for the financial year ended on 31.03.2014 the applicable accounting standards have been followed along-with proper explanation relating to material departures;

ii) That the Directors have selected such Accounting Policies and applied them consistently and made judgment and estimates that were reasonable and prudent so as to give true and fair view of the state of affairs of the company at the end of the financial year and of the Profit of the company for the year under review;

iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of The Companies Act, 1956 and for safeguarding the assets of the company and for preventing and detecting other irregularities;

iv) That the Directors have prepared the accounts for the financial year ended 31.03.2014 on a ''going concern1 basis. PARTICULARS OF EMPLOYEES:

The provisions of Section 217 (2A) of The Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended, are not applicable, as there is no employee drawing remuneration beyond the stipulated amount provided in the said rules.

ACKNOWLEDGEMENT:

The Directors wish to place on record their sincere appreciation for the committed and dedicated services of the employees of the Company. The Board also wishes to thank the Doctors, Specialist in Medical Field, Bankers for placing their trust on the Company and encouragement they extend to the Company. The Board places on record their thanks to the shareholders and the patient public for the confidence reposed by them in the Company and their appreciation for the services.

By Order of the Board of Directors

Sd/- Sd/-

Place: Meerut (Dr. V. S. Phull) (Mr. Premjit Singh Kashyap)

Date: 29.08.2014 Managing Director Chairman


Mar 31, 2011

Dear Members,

The Directors have the pleasure in presenting the 18th Annual Report of the company together with Financial Statements for the year ended on 31st March 2011. FINANCIAL & OPERATIONAL REVIEW:

FINANCIAL RESULTS: (Rs. in Lacs)

S. No. Financial Heads Year ended Year ended 31.03.2011 31.03.2010

1. Operating Income 405.57 347.72

2. Other Income 1.11 7.60

3. Gross Profit Before depreciation & interest 99.27 81.33

4. Interest 1.00 1.03

5. Gross Profits after interest but before depreciation 98.27 80.30

6. Depreciation 51.01 49.56 7. Profit before Tax 47.26 30.74

8. Provision for Taxation 22.55 16.88

9. Deferred Tax Provision 1.15 7.06

10. Profit after Tax 23.56 6.79

11. Proposed Dividend 16.39 -

12. Corporate Dividend Tax Thereon 2.66 -

13. Balance after taxation carried over to the Balance Sheet 4.51 6.79

During the year under review the revenue of the company has increased to Rs. 406 Lacs registering a growth of 17% as against the revenue of Rs. 348 Lacs for the previous year ended on March 31,2010. The Pre Tax profit has increased by 54% while the Post Tax Profits of Rs. 23.56 Lacs for the year ended March 31,2011 have registered increase by 71 % in comparison of Rs. 6.79 Lacs in the previous year ended on 31.03.2010.

The management has taken a number of steps to improve the performance of the Company The number of cases treated (both diagnostic and hospital) have increased considerably. The presence of experienced doctors and well equipped infrastructure has resulted in yielding better results. Major repairs and renewals to the hospital building to face-lift the entire environment and repairs and renewals to the hospital equipments, purchase of latest bio-medical equipments to replace the old machines are the causes for the high expenditure.

FUTURE OUTLOOK

There is contineous growth in the Health and Healthcare Sectors. It grows with the growth of the population. By strengthening of existing facilities it is expected that the performance of the hospital will improve substantially. The management is focusing its attention to further strengthen its infrastructure and other facilities. Much scope is expected in the overall performance and revenue generation.

DIVIDEND:

During the year, the Board of Director's have proposed a dividend of 4% for the year ended 2010-11 subject to approval of the members of the company. The equity dividend (including tax on distributed profits) amounts to Rs. 19.05 Lac.

AUDITORS :

M/s Vipin Nagar & Co., Meerut, auditors of the company retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. They have also furnished a certificate to the company stating that their appointment if made, will be within the limits laid down under section 224 (1B) of The Companies Act, 1956.

CORPORATE GOVERNANCE :

The Company has complied with the guidelines prescribed by the Stock Exchanges on Corporate Governance. The Company has constituted Audit Committee, Share Transfer Committee and Investors' Grievances Redressal Committee. The details of compliance made by the Company along-with a certificate from the Auditors and Management Discussion and Analysis are as per Annexure - "A" and "B" respectively forming part of this report.

DIRECTORS :

Pursuant to section 256 of The Companies Act, 1956 Dr. S.K. Khatri, Dr. G.P. Elhence and Dr. S.P. Mithal Directors of the company retire by rotation in the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. The Board recommends their reappointment. The information on the particulars of Directors seeking re-appointments as required under Clause 49 of the Listing Agreement executed with the Stock Exchanges, have been given under Corporate Governance (Annexure "A") of this report.

LISTING ON STOCK EXCHANGE :

The company's securities are listed on The Uttar Pradesh Stock Exchange Association Ltd. Kanpur, The Stock Exchange, Mumbai and The Stock Exchange Association Ltd., Delhi. The company has paid the listing fee for all the stock exchanges for the financial year 2010-11 and has complied with all the requirements of the listing agreement.

INFORMATION AS PER SECTION 217(1)(e) READ WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988 & FORMING PART OF THE DIRECTORS' REPORT FOR THE YEAR ENDED ON 31 ST MARCH 2011

A. CONSERVATION OF ENERGY:

The company is not covered by the Schedule of industries under Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 requiring furnishing of information regarding conservation of energy. However, the company does lay a great deal of emphasis on conservation of energy in all phases of operation.

B. TECHNOLOGY ABSORPTION : Not Applicable

C. FOREIGN EXCHANGE EARNINGS AND OUTGO :

a) Foreign exchange Earnings : NIL

b) Foreign exchange Outgo : NIL

RESPONSIBILITY STATEMENT OF THE BOARD OF DIRECTORS as required under section 217 (2AA) of The Companies Act, 1956

Pursuant to the requirement U/s 217 (2AA) of The Companies Act, 1956 with respect to Directors'

Responsibility statement is hereby confirmed:

i) That in the preparation of accounts for the financial year ended on 31.03.2011, the applicable accouting standards have been followed along-with proper explanation relating to material departures;

ii) That the Directors have selected such Accounting Policies and applied them consistently and made judgement and estimates that were reasonable and prudent so as to give true and fair view of the state of affairs of the company at the end of the financial year and of the Profit or Loss of the company for the year under review;

iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of The Companies Act, 1956 and for safeguarding the assets of the company and for preventing and detecting other irregularities;

iv) That the Directors have prepared the accounts for the financial year ended 31.03.2011 on a going cocern basis.

PARTICULARS OF EMPLOYEES:

The provisions of Section 217 (2A) of The Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended, are not applicable, as there is no employee drawing remuneration beyond the stipulated amount provided in the said rules.

ACKNOWLEDGEMENT:

We are thankful to our Bankers, Govt. Bodies and Business Associates for the co-operation and assistance extended by them. The Board places on record their thanks to the shareholders and the patient public for the confidence reposed by them in the Company and their appreciation for the services and untiring efforts of the Doctors and Employees at all levels, which has helped the Company to run its affairs smoothly.

By Order of the Board of Directors

Sd/- (Dr. S.P. Gupta) Chairman

Place : Meerut Date : 30.07.2011


Mar 31, 2010

The Directors have the pleasure in presenting the 17th Annual Report of the company together with Financial Statements for the year ended on 31st March 2010.

FINANCIAL & OPERATIONAL REVIEW:

FINANCIAL RESULTS: (Rs. in Lacs)

S.No. Financial Heads Year ended Year ended 31.03.2010 31.03.2009

1. Operating Income 347.72 269.28

2. Other Income 7.60 4.92

3. Gross Profits before depreciation & interest 81.33 72.81

4. Interest 1.03 4.91

5. Gross Profits after interest but before depreciation 80.30 67.90

6. Depreciation 49.56 48.83

7. Profit Before Tax 30.74 19.07

8. Provision for Taxation 16.88 2.41

9. Deferred Tax Provision 7.06 8.99

10. Profit after Tax 6.79 7.67

11. Balance after taxation carried over to the Balance Sheet 6.79 7.67

During the year under review the revenue of the company has increased to Rs. 348 Lac registering a growth of 29% as against the revenue of Rs. 269 Lac for the previous year ended on March 31 2009. The Pre Tax Profit has increased by 61 % while the Post Tax Profits of Rs. 6.79 Lac for the year ended March 31 2010 have registred decline by 12% in comparison of Rs. 7.67 Lac in the previous year ended on 31.03.2009 This is mainly on account of higher tax liability calculated at normal rates, as the company had used its MAT credit completely in the previous year.

Your Directors are happy to inform you that the company is debt free as on date, this is particularly significant as the company shall raise funds for the proposed expansion activity in order to earn higher revenues.

FUTURE OUTLOOK

Your Company will continue to focus on both development and expansion of its operational activities. With more people taking health insurance coverage the dynamics of hospital industry is also changing at a fast pace, the patients and their attendants are seeking more comfort just like any other hospitability industry.To keep pace with their expectation and need of the business, your Company proposes to go in for construction of indoor facility with all modern facilites in the new block.

In addition to above, managing margins through judicious pricing and sustained efficiencies "and cost saving will receive constant attention.

DIVIDEND:

In view of sufficient profits and expansion of operational activities propsed by the company, the directors donot propose any dividend for the year 2009-10.

AUDITORS:

M/s Vipin Nagar & Co., Meerut, auditors of the company retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment. They have also furnished a certificate to the company stating that their appointment if made, will be within the limits laid down under section 224 (1B) of The Companies Act, 1956.

CORPORATE GOVERNANCE:

The Company has complied with the guidelines prescribed by the Stock Exchanges on Corporate Governance. The Company has constituted Audit Committee, Share Transfer Committee and Investors Grievances Redressal Committee. The details of compliance made by the Company along-with a certificate from the Auditors and Management Discussion and Analysis are as per Annexure - "A" and "B" respectively forming part of this report.

DIRECTORS:

Pursuant to section 256 of The Companies Act, 1956 Mr. Premjit Singh Kashyap, Ms Meenakshi Elhence and Mr. Abhimanyu Arora Directors of the company retire by rotation in the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. The Board recommends their reappointment. The information on the particulars of Directors seeking re-appointments as required under Clause 49 of the Listing Agreement executed with the Stock Exchanges, have been given under Corporate Governance (Annexure "A") of this report.

LISTING ON STOCK EXCHANGE:

The companys securities are listed on The Uttar Pradesh Stock Exchange Association Ltd., Kanpur, The Stock Exchange, Mumbai and The Stock Exchange Association Ltd., Delhi. The company has paid the listing fee for all the stock exchanges for the financial year 2009-10 and has complied with all the requirements of the listing agreement.

INFORMATION AS PER SECTION 217(1)(e) READ WITH THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF DIRECTORS) RULES, 1988 & FORMING PART OF THE DIRECTORS REPORT FOR THE YEAR ENDED ON 31 ST MARCH 2010

A CONSERVATION OF ENERGY:

Your company is not covered by the Schedule of industries under Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 requiring furnishing of information regarding conservation of energy. However, the company does lay a great deal of emphasis on conservation of energy in all phases of operation.

B. TECHNOLOGY ABSORPTION : Not Applicable

C. FOREIGN EXCHANGE EARNINGS AND OUTGO:

a) Foreign exchange Earnings NIL

b) Foreign exchange Outgo NIL

RESPONSIBILITY STATEMENT OF THE BOARD OF DIRECTORS as required under section 217(2AA) of The Companies Act, 1956

Pursuant to the requirement U/s 217(2AA) of The Companies Act, 1956 with respect to Directors Responsibility statement it is hereby confirmed:

i) That in the preparation of accounts for the financial year ended on 31.03.2010 the applicable accounting standards have been followed along-with proper explanation relating to material departures;

ii) That the Directors have selected such Accounting Policies and applied them consistently and made judgment and estimates that were reasonable and prudent so as to give true and fair view of the state of affairs of the company at the end of the financial year and of the Profit or Loss of the company for the year under review;

iii) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of The Companies Act, 1956 and for safeguarding the assets of the company and for preventing and detecting other irregularities;

iv) That the Directors have prepared the accounts for the financial year ended 31.03.2010 on a going concern basis.

PARTICULARS OF EMPLOYEES:

The provisions of Section 217 (2A) of The Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended, are not applicable, as there is no employee drawing remuneration beyond the stipulated amount provided in the said rules.

ACKNOWLEDGEMENT:

Your Directors would like to acknowledge the continued support and co-operation from the Bankers, Govt. Bodies, Medical Professionals, Business Associates, and the shareholders during the year under review.

The relation between the employees and the management during the year, have been cordial. The Directors wish to thank all the employees for the continued support and co-operation during the year under review.

By Order of the Board of Directors

Sd/-

Place : Meerut (Dr. S.P. GUPTA)

Date : 31.07.2010 Chairman



 
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