Notes to Accounts of Indraprastha Medical Corporation Ltd.

Mar 31, 2025

Q. Provisions, contingent liabilities and contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an
outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. If the
effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage
of time is recognised as a finance cost.

Contingent liability is disclosed in the case of a present obligation arising from a past event when it is not probable that an
outflow of resources embodying economic benefits will be required to settle the obligation or a possible obligation, unless
the probability of outflow in settlement is remote.

R. Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

Initial Recognition and measurement

On initial recognition, all the financial assets and liabilities are recognised at their fair value plus or minus, in the case of a
financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the
acquisition or issue of the financial asset or financial liability.

Subsequent measurement

(i) Financial assets carried at amortised cost

A financial asset is subsequently measured at amortised cost if it is held within a business model whose objective is
to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on
specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

(ii) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a
business model whose objective is achieved by both collecting contractual cash flows and selling financial assets
and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

(iii) Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories is subsequently measured at fair value through
profit or loss.

(iv) Financial liabilities

The financial liabilities are subsequently carried at amortised cost using the effective interest method. For trade and
other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value
due to the short-term maturity of these instruments.

Fair value measurement of financial instruments

The fair value of financial instruments is determined using the valuation techniques that are appropriate in the circumstances
and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and
minimising the use of unobservable inputs.

Based on the three level fair value hierarchy, the methods used to determine the fair value of financial assets and liabilities
include quoted market price, discounted cash flow analysis and valuation certified by the external valuer.

In case of financial instruments where the carrying amount approximates fair value due to the short maturity of those
instruments, carrying amount is considered as fair value.

Derecognition of financial instrument

A financial asset is derecognised when the contractual rights to the cash flows from the financial asset expire or it transfers
the financial asset and the transfer qualifies for derecognition under Ind AS 109. A financial liability is derecognised when
the obligation specified in the contract is discharged or cancelled or expired.

Equity instruments

Equity shares issued by the Company are classified as equity. Incremental costs directly attributable to the issuance of new
ordinary shares and share options are recognised as a deduction from equity, net of any tax effects.

KH NOTES ON ACCOUNTS

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is '' 3.12 Crore (Previous

year '' 7.71 Crore).

B. Contingent Liability

i) Claims against the Company not acknowledged as debt '' 88.75 Crore ( Previous Year '' 71.95 Crore) and interest
thereon, if any. This represents suits filed against the Company and the consultant doctors. Based on the facts
and circumstances, possibility of any of the claims resulting in a major financial loss to the Company is remote.
Notwithstanding above, the Company is adequately insured to mitigate the possibility of any loss.

ii) Bank guarantees and Letter of Credits (LC) outstanding on account of stores / spares and medical equipment
amounting to '' 22.35 Crore (Previous year '' 0.31 Crore)

iii) In respect of :

C. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon''ble Delhi High Court vide its order dated
September 22, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government
of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the
Company filed a Special Leave Petition in the Hon''ble Supreme Court for appropriate directions. The Hon''ble Supreme
Court of India has admitted the Special Leave Petition and passed an interim order on November 30, 2009. In pursuance
of the interim order, the Hospital has been providing free treatment to the patients referred by the Govt. of NCT of Delhi.
The hospital is charging for medicines and medical consumables from patients referred by the Govt. of NCT of Delhi for
free treatment in the Hospital in accordance with the directions of the Hon''ble Supreme Court of India. The matter is
currently under consideration by the Hon''ble Supreme Court. The Company has remained compliant with the applicable
requirements under the lease. As the matter remains sub judice, any potential financial implications, if any, will be assessed
upon final determination by the Hon''ble Supreme Court.

D. i) Under the terms of the agreement between the Government of NCT of Delhi and the Company, the Hospital building

has been constructed on the land leased out to the Company by the Government of NCT of Delhi. The Government
of NCT of Delhi has met the expenditure to the extent of '' 15.48 Crore out of IMCL Building fund account (funds
earmarked for the project) together with the interest thereon for construction of building while the balance amount of
the cost of the building was borne by the Company. The cost of the building and net carrying amount in the books
of account as on March 31,2025 is '' 199.80 Crore and '' 125.19 Crore respectively. The ownership of the building
between Government of NCT of Delhi and the Company will be decided at a future date keeping in view of the lease
agreement.

ii) Other expenses include '' 12/- (previous year '' 12/-) towards leasehold ground rent as per the terms of agreement
between Govt. of NCT of Delhi and the Company.

E. Employee benefits

Defined benefit plan
Gratuity (Funded)

The Company provides to the eligible employees, defined benefit plans in the form of gratuity. The gratuity plan provides
for a lump sum payment to vested employees at retirement, death while in employment or on termination of employment
of an amount equivalent to 15 days'' salary payable for each completed year of service. Vesting occurs upon completion
of five continuous years of service.

F. Financial Risk Management

The principal financial assets of the Company include loans, trade and other receivables, and cash and bank balances that
derive directly from its operations. The principal financial liabilities of the Company include overdraft, cash credit facility,
trade and other payables and the main purpose of these financial liabilities is to finance the day to day operations of the
Company.

The Company is exposed to market risk, credit risk and liquidity risk. The Company''s senior management oversees the
management of these risks and advises on financial risks and the appropriate financial risk governance framework for the
Company. The risks which the Company is exposed to and policies and framework adopted by the Company to manage
these risks are explained as under:

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Company is exposed to interest rate risk as its Market risk.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the
Company''s debt obligations in the form of overdraft and cash credit facility with floating interest rates.

As the Company has no significant interest-bearing assets, the income and operating cash flows are substantially
independent of changes in market interest rates.

Liquidity Risk

The financial liabilities of the Company include loans and borrowings, trade and other payables. The Company’s principal
sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations.

The below is the detail of contractual maturities of the financial liabilities of the Company at the end of each reporting
period:

in f^.rnrcA

Foreign currency risk

The fluctuation in foreign currency exchange rates may have potential impact on the Statement of Profit and Loss and
equity, where any transaction references more than one currency or where assets/liabilities are denominated in a currency
other than the functional currency.

Considering the economic environment in which the Company operates, its operations are subject to risks arising from
fluctuations in exchange rates. The risks primarily relate to fluctuations in USD against the functional currency (INR) of the
Company.

Credit Risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The exposure to the
credit risk at the reporting date is primarily from trade receivables which are typically unsecured. Majority of the Company''s
transactions are earned in cash or cash equivalents. The trade receivables comprise mainly of receivables from Insurance
Companies, Corporate customers and Government Undertakings. The Insurance Companies are required to maintain
minimum reserve levels and the Corporate Customers are enterprises with high credit ratings. Accordingly, the Company’s
exposure to credit risk in relation to trade receivables is low.

The Company assesses the creditworthiness of the customers internally to whom services are rendered on credit terms
in the normal course of business. The credit limit of each customer is defined in accordance with this assessment.
Outstanding customer receivables are regularly monitored.

The Company recognises loss allowances using the expected credit loss (ECL) model for the financial assets which are not
fair valued through profit or loss. Loss allowance for trade receivables with no significant financing component is measured
at an amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal
to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those
are measured at lifetime ECL.

$ Key Management Personnel are covered under the Company''s gratuity and leave encashment scheme along with the
other employee benefits of the Company. The gratuity/ leave encashment liability is determined for all employees based
on an independent actuarial valuation. The specific amount of gratuity/ leave encashment for Key Management Personnel
cannot be ascertained separately and accordingly the same has not been included in respective employees.

M. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the
net profit for the year ended March 31, 2025 attributable to equity shareholders by the weighted average number of
equity shares outstanding during the said financial year. The net profit attributable to equity share holders is '' 160.99
Crore (Previous Year '' 123.96 Crore) and the weighted average number of equity share is 9,16,73,000 (Previous Year
9,16,73,000) for this purpose.

N. In accordance with Ind AS - 36 on Impairment of Assets, the Company has assessed whether any indications with regard
to impairment of any assets exists as on the Balance Sheet date. Based on such assessment, it has been ascertained that
there are no such indications and thereby no formal estimate of the recoverable amount has been made.

O. As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least
2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR)
activities. The areas for CSR activities are promoting education and healthcare. The Company has fully spent the required
amount towards Corporate Social Responsibility (CSR) and there are no unspent CSR amount for the year requiring a
transfer to a Fund specified in Schedule VII to the Companies Act or special account in compliance with the provision of
sub-section (6) of section 135 of the said Act.

As per our separate report of even date attached

For S.N. Dhawan & Co LLP Suneeta Reddy Shivakumar Pattabhiraman

Chartered Accountants Director Managing Director

Firm Reg. No. 000050N/N500045 (DIN 00001873) (DIN 08570283)

Place : Chennai Place : New Delhi

Date : May 16, 2025 Date : May 16, 2025

Bhaskar Sen C P Tyagi Priya Ranjan

Partner Chief Financial Officer Associate Vice President

M. No. 096985 Cum Company Secretary

Place : New Delhi Place : New Delhi Place : New Delhi

Date : May 16, 2025 Date : May 16, 2025 Date : May 16, 2025

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Mar 31, 2024

Q. Provisions, contingent liabilities and contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

Contingent liability is disclosed in the case of a present obligation arising from a past event when it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or a possible obligation, unless the probability of outflow in settlement is remote.

R. Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Initial Recognition and measurement

On initial recognition, all the financial assets and liabilities are recognized at their fair value plus or minus, in the case of a financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial asset or financial liability.

Subsequent measurement

(i) Financial assets carried at amortised cost

A financial asset is subsequently measured at amortised cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

(ii) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

(iii) Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories is subsequently measured at fair value through profit or loss.

(iv) Financial liabilities

The financial liabilities are subsequently carried at amortized cost using the effective interest method. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short-term maturity of these instruments.

Fair value measurement of financial instruments

The fair value of financial instruments is determined using the valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

Based on the three level fair value hierarchy, the methods used to determine the fair value of financial assets and liabilities include quoted market price, discounted cash flow analysis and valuation certified by the external valuer.

In case of financial instruments where the carrying amount approximates fair value due to the short maturity of those instruments, carrying amount is considered as fair value.

Derecognition of financial instrument

A financial asset is derecognized when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109. A financial liability is derecognized when the obligation specified in the contract is discharged or cancelled or expired.

Equity instruments

Equity shares issued by the company are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares and share options are recognized as a deduction from equity, net of any tax effects.

30. NOTES ON ACCOUNTS

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 7.71 crore (Previous year Rs. 23.40 crore).

B. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 71.95 crore ( Previous Year Rs. 61.78 crore) and interest thereon, if any. This represents suits filed against the company and the consultant doctors. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 0.31 crore (Previous year Rs. 0.33 crore)

C. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon''ble Delhi High Court vide its order dated 22^nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon''ble Supreme Court for appropriate directions. The Hon''ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30^th Nov, 2009. In pursuance of the interim order, the Hospital has been providing free treatment to the patients referred by the Govt. of NCT of Delhi. The hospital is charging for medicines & medical consumables from patients referred by the Govt. of NCT of Delhi for free treatment in the Hospital in accordance with the directions of the Hon''ble Supreme Court of India. As the matter is sub-judice, the financial impact in the matter can be quantified only upon a decision by the Hon''ble Supreme Court of India.

D. i) Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital

building has been constructed on the land leased out to the company by the Government of NCT of Delhi. The Government of NCT of Delhi has met the expenditure to the extent of Rs. 15.48 crore out of IMCL Building fund account (funds earmarked for the project) together with the interest thereon for construction of building while the balance amount of the cost of the building was borne by the Company. The cost of the building and net carrying amount in the books of account as on 31^st March 2024 is Rs. 198.83 crore and Rs. 131.41 crore respectively. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view of the lease agreement

ii) Other expenses include Rs. 12/- (previous year Rs. 12/-) towards leasehold ground rent as per the terms of agreement between Govt. of NCT of Delhi and the company.

F. Financial Risk Management

The principal financial assets of the Company include loans, trade and other receivables, and cash and bank balances that derive directly from its operations. The principal financial liabilities of the company include loans and borrowings, trade and other payables and the main purpose of these financial liabilities is to finance the day to day operations of the company.

The Company is exposed to market risk, credit risk and liquidity risk. The Company''s senior management oversees the management of these risks and advises on financial risks and the appropriate financial risk governance framework for the Company. The risks which the company is exposed to and policies and framework adopted by the company to manage these risks are explained as under:

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Company is exposed to interest rate risk as its Market risk.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s debt obligations with floating interest rates.

As the Company has no significant interest-bearing assets, the income and operating cash flows are substantially independent of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s debt obligations with floating interest rates, which are included in interest bearing loans and borrowings in these financial statements. The company''s fixed rate borrowings are carried at amortised cost. They are therefore not subject to interest rate risk, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates.

Liquidity Risk

The financial liabilities of the company include loans and borrowings, trade and other payables. The company''s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations.

The below is the detail of contractual maturities of the financial liabilities of the company at the end of each reporting period:

Credit Risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The exposure to the credit risk at the reporting date is primarily from trade receivables which are typically unsecured. Majority of the company''s transactions are earned in cash or cash equivalents. The trade receivables comprise mainly of receivables from Insurance Companies, Corporate customers and Government Undertakings. The Insurance Companies are required to maintain minimum reserve levels and the Corporate Customers are enterprises with high credit ratings. Accordingly, the company''s exposure to credit risk in relation to trade receivables is low.

The company assesses the creditworthiness of the customers internally to whom services are rendered on credit terms in the normal course of business. The credit limit of each customer is defined in accordance with this assessment. Outstanding customer receivables are regularly monitored.

M. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31^st March, 2024 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 123.96 crore (Previous Year Rs. 86.15 crore) and the weighted average number of equity share is 9,16,73,000 (Previous Year 9,16,73,000) for this purpose.

N. In accordance with Ind AS - 36 on Impairment of Assets, the company has assessed whether any indications with regard to impairment of any assets exists as on the Balance Sheet date. Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

O. As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. The areas for CSR activities are promoting education and healthcare. The Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there are no unspent CSR amount for the year requiring a transfer to a Fund specified in Schedule VII to the Companies Act or special account in compliance with the provision of sub-section (6) of section 135 of the said Act.

As per our separate report of even date attached

For S.N. Dhawan & CO LLP Suneeta Reddy Shivakumar Pattabhiraman

Chartered Accountants Director Managing Director

Firm Reg. No. 000050N/N500045 (DIN 00001873) (DIN 08570283)

Place : New Delhi Place : New Delhi

Date : 17^th May, 2024 Date : 17^th May, 2024

Rajeev K Saxena C P Tyagi Priya Ranjan

Partner Chief Financial Officer Associate Vice President Cum

M. No. 077974 Company Secretary

Place : New Delhi Place : New Delhi Place : New Delhi

Date : 17^th May, 2024 Date : 17^th May, 2024 Date : 17^th May, 2024

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Mar 31, 2023

G. FINANCIAL RISK MANAGEMENT

The principal financial assets of the Company include loans, trade and other receivables, and cash and bank balances that derive directly from its operations. The principal financial liabilities of the company include loans and borrowings, trade and other payables and the main purpose of these financial liabilities is to finance the day to day operations of the company.

The Company is exposed to market risk, credit risk and liquidity risk. The Company''s senior management oversees the management of these risks and advises on financial risks and the appropriate financial risk governance framework for the Company. The risks which the company is exposed to and policies and framework adopted by the company to manage these risks are explained as under:

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Company is exposed to interest rate risk as its Market risk.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company''s exposure to the risk of changes in market interest rates relates primarily to the Company''s debt obligations with floating interest rates.

As the Company has no significant interest-bearing assets, the income and operating cash flows are substantially independent of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company''s debt obligations with floating interest rates, which are included in interest bearing loans and borrowings in these financial statements. The company''s fixed rate borrowings are carried at amortised cost. They are therefore not subject to interest rate risk, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates.

Liquidity Risk

The financial liabilities of the company include loans and borrowings, trade and other payables. The company''s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations.

The below is the detail of contractual maturities of the financial liabilities of the company at the end of each reporting period:

Credit Risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The exposure to the credit risk at the reporting date is primarily from trade receivables which are typically unsecured. Majority of the company''s transactions are earned in cash or cash equivalents. The trade receivables comprise mainly of receivables from Insurance Companies, Corporate customers and Government Undertakings. The Insurance Companies are required to maintain minimum reserve levels and the Corporate Customers are enterprises with high credit ratings. Accordingly, the company''s exposure to credit risk in relation to trade receivables is low.

The company assesses the creditworthiness of the customers internally to whom services are rendered on credit terms in the normal course of business. The credit limit of each customer is defined in accordance with this assessment. Outstanding customer receivables are regularly monitored.

The company recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivables with no significant financing component is measured at an amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL.

H. ESTIMATION OF UNCERTAINTY RELATING TO THE GLOBAL HEALTH PANDEMIC FROM CDVID-IO

The Company has considered the possible effects that may result from the pandemic relating to COVID-19. The Extent to which the Covid-19 pandemic will impact the company’s performance going forward will depend on future developments, which are highly uncertain, including, among other things, any new information concerning the severity of the Covid-19 pandemic and any action taken to contain its spread or mitigate its impact whether Government mandated or elected by the hospital.

The impact of Global health pandemic may be different from that estimated as at the date of approval of this financial result and the company will continue to closely monitor any material changes to the further economic conditions.

In assessing the recoverability of receivables including unbilled receivable as on balance sheet date, the company has considered internal and external information up to the date of approval of the financial results.

The company has performed the analysis based on current indicators of future business conditions and the Company expects to recover the carrying amount of the assets of the company.

J. The Code on Social Security, 2020 has been enacted, which could impact the contributions by the company towards Provident Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified. Impact if any, of the change will be assessed and accounted in period of notification of relevant provisions.

L. The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated 26^th August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum. Accordingly, the disclosure in respect of the amounts payable to such enterprises as at 31^st March, 2023 has been made in the financial statements based on information received and available with the Company. Further in view of the management, the impact of interest, if any, that may be payable in accordance with the provisions of the Micro, Small and Medium Enterprises Development Act, 2006 (‘The MSMED Act'') is not expected to be material. The Company has not received any claim for interest from any supplier during the year.

$ Key Management Personnel are covered under the Company''s gratuity and leave encashment scheme along with the other employee benefits of the Company. The gratuity/ leave encashment liability is determined for all employees based on an independent actuarial valuation. The specific amount of gratuity/ leave encashment for Key Management Personnel cannot be ascertained separately and accordingly the same has not been included in respective employees.

N. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31^st March, 2023 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 86.15 crore (Previous Year Rs. 58.62 crore) and the weighted average number of equity share is 9,16,73,000 (Previous Year 9,16,73,000) for this purpose.

O. In accordance with Ind AS - 36 on Impairment of Assets, the company has assessed whether any indications with regard to impairment of any assets exists as on the Balance Sheet date. Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

P. As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. The areas for CSR activities are promoting education, healthcare and COVID-19 relief. The Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there are no unspent CSR amount for the year requiring a transfer to a Fund specified in Schedule VII to the Companies Act or special account in compliance with the provision of sub-section (6) of section 135 of the said Act.

Q. The company is engaged in the healthcare business, which in context of Ind AS 108 issued by the Institute of Chartered Accountants of India is considered the only business segment.

T. Previous year figures have been regrouped / rearranged wherever necessary.

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Mar 31, 2018

The company has availed cash credit limit of Rs. 1,500 lacs from State Bank of India to meet the working capital requirements at an interest rate of 8.35% p.a. The limit is secured by first pari-passu charge on the entire current assets of the company. Company also have an overdraft limit of Rs. 2,500 lacs from ICICI bank at an interest rate of 8.65%, which is secured by first pari passu charge on the current assets of the company. Total utilization of the cash credit /overdraft limits from all the banks at any point cannot exceed Rs. 2,500 lacs.

The details of commercial paper outstanding as on 31^st March, 2018 are as follows:

1. Commercial paper of Rs. 1,000 lacs has been subscribed by ICICI Bank Limited at interest rate of 7.80% and with maturity date of 13^th June, 2018.

2. Commercial paper of Rs. 1,000 lacs subscribed by Invesco Trustee Pvt Ltd. at interest rate of 7.90% and with maturity date of 15^th June, 2018.

1. GENERAL INFORMATION

Indraprastha Medical Corporation Limited (‘the Company’) is a public Company incorporated in India. The address of its registered office and principal place of business is at Sarita Vihar, Mathura Road, New Delhi, India. The main business of the company is to enhance the quality of life of patients by providing comprehensive, high -quality hospital services on a cost-effective basis. The company has its primary listings on BSE Limited and National Stock Exchange of India Limited.

2. notes on accounts

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 88.89 lacs (Previous year Rs. 345.46 lacs).

B. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 4,670.33 lacs (Previous Year Rs. 3,924.70 lacs) and interest thereon. This represents suits filed against the company and the consultant doctor. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Letters of credit / Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 228.30 lacs (Previous year Rs. 1,132.74 lacs)

C. i) Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 1,547.80 lacs out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company. As at 31^st March, 2018, the aforesaid fund, together with interest thereon amounting to Rs. 1,923.58 lacs have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

ii) Other expenses include Rs. 12/- (previous year Rs. 12/-) towards leasehold ground rent as per the terms of agreement between Govt. of NCT of Delhi and the company.

D. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon’ble Delhi High Court vide its order dated 22^nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon’ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon’ble Delhi high court. The Hon’ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt. of Delhi for free treatment in the Hospital. As the matter is sub judice, the financial impact in the matter can be quantified only upon a decision by the Hon’ble Supreme Court of India.

E. Employee benefits defined benefit plan Gratuity

The Company provides to the eligible employees, defined benefit plans in the form of gratuity. The gratuity plan provides for a lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an amount equivalent to 15 days’ salary payable for each completed year of service. Vesting occurs upon completion of five continuous years of service.

The following table sets out the details of the defined benefit retirement plans and the amounts recognised in the financial statements:

F. Financial Risk Management

The principal financial assets of the Company include loans, trade and other receivables, and cash and bank balances that derive directly from its operations. The principal financial liabilities of the company include loans and borrowings, trade and other payables and the main purpose of these financial liabilities is to finance the day to day operations of the company.

The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the management of these risks and advises on financial risks and the appropriate financial risk governance framework for the Company. The risks which the company is exposed to and policies and framework adopted by the company to manage these risks are explained as under:

Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Company is exposed to interest rate risk as its Market risk.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s debt obligations with floating interest rates.

As the Company has no significant interest-bearing assets, the income and operating cash flows are substantially independent of changes in market interest rates. The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s debt obligations with floating interest rates, which are included in interest bearing loans and borrowings in these financial statements. The Company’s fixed rate borrowings are carried at amortised cost. They are therefore not subject to interest rate risk, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest rates.

At the reporting date the interest rate profile of the Company’s interest bearing financial instrument is at its fair value:

Liquidity Risk

The financial liabilities of the company include loans and borrowings, trade and other payables. The company’s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The below is the detail of contractual maturities of the financial liabilities of the company at the end of each reporting period:

Credit Risk

Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The exposure to the credit risk at the reporting date is primarily from trade receivables which are typically unsecured. Majority of the company’s transactions are earned in cash or cash equivalents. The trade receivables comprise mainly of receivables from Insurance Companies, Corporate customers and Government Undertakings. The Insurance Companies are required to maintain minimum reserve levels and the Corporate Customers are enterprises with high credit ratings. Accordingly, the company’s exposure to credit risk in relation to trade receivables is low.

The company assesses the creditworthiness of the customers internally to whom services are rendered on credit terms in the normal course of business. The credit limit of each customer is defined in accordance with this assessment. Outstanding customer receivables are regularly monitored.

The company recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivables with no significant financing component is measured at an amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL.

* FVTPL - Fair value through profit and loss, FVTOCI - Fair value through other comprehensive income.

G. Travelling and conveyance expenses include Rs. 32.66 lacs ( Previous year Rs. 24.42 lacs ) on account of Directors’ travelling.

H. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31^st March, 2018 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 2,110.33 lacs (Previous Year Rs. 2,624.53 lacs) and the weighted average number of equity share is 9,16,73,000 (Previous Year 9,16,73,000) for this purpose.

I. There is no amount due to Micro, Small and Medium Enterprises for the year ended 31^st March, 2018 (Previous year Rs. Nil). The information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. Further no interest has been paid during the year and payable as on 31^st March 2018 as well as 31^st March 2017 to such parties.

J. Property, Plant & Equipment includes expenditure amounting to Rs. 774.90 lacs (Previous year Rs. 774.90 lacs) on building in connection with setting up 57 bedded hospital at Noida (U.P.). The hospital has been set up on land taken on lease by SABCO Medicare (P) Limited from Noida Authority. The rights of the lease deed has been acquired through an assignment deed in favour of the company from Apollo Hospital Enterprises Limited who are the Sub-lessee. Depreciation on such building has been charged over the period of lease.

K. In accordance with Ind AS - 36 on Impairment of Assets, the company has assessed whether any indications with regard to impairment of any assets exists as on the Balance Sheet date. Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

L. Pursuant to sub section (5) of section 135 of the Companies Act, 2013, the Company was required to spend Rs. 90.61 lacs (Previous Year Rs. 98.79 lacs) in respect of its “Corporate Social Responsibility Policy (CSR Policy)” on eligible activities. During the financial year, the company has spent Rs. 91.93 lacs (Previous Year Rs. 100.06 lacs) on such eligible activities. The said amount stands debited under the head “other expenses”.

M. The company is engaged in the healthcare business, which in context of Ind AS 108 issued by the Institute of Chartered Accountants of India is considered the only business segment.

N. Previous year figures have been regrouped / rearranged wherever necessary.

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Mar 31, 2016

1. NOTES ON ACCOUNTS

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 3,84,58,448/- ( Previous Year Rs. 2,94,25,075/-).

B. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 35,74,60,000/- ( Previous Year Rs. 37,54,60,000/-) and interest thereon. This represents suits filed against the company and the consultant doctor. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Letters of credit / Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 1,10,52,525/- (Previous Year Rs. 4,77,32,588/-).

C. Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 15,47,80,000/- out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company. As at 31^st March, 2016, the aforesaid fund, together with interest thereon amounting to Rs. 19,23,57,946/- have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

D. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon''ble Delhi High Court vide its order dated 22^nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon''ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon''ble Delhi high court. The Hon''ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt. of Delhi for free treatment in the Hospital. As the matter is sub judice, the financial impact in the matter can be quantified only upon a decision by the Hon''ble Supreme Court of India.

E. Employee benefits

(i) The summarized position of Post - employment benefits and long term benefits recognized in the Statement of Profit and Loss and the Balance Sheet as required in accordance with Accounting Standard - 15 (Revised) are as under:

H. The Basic earnings per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31^st March, 2016 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 28,23,44,147/- (Previous Year Rs. 32,49,11,605/-) and the weighted average number of equity share is 9,16,73,000 (Previous Year 9,16,73,000) for this purpose.

I. The Company has no suppliers who fall into the category of Micro, Small and Medium Enterprises as defined in “The Micro, Small and Medium Enterprises Development Act, 2006”. Hence there is no amount due to Micro, Small and Medium Enterprises for the year ended 31^st March, 2016 (Previous Year Rs. Nil).

J. Employee benefit expenses and Other expenses includes Rs. 3,72,15,858/- & Rs. 24,56,500/- respectively, on account of provision of bonus for the financial year 2014-15 in accordance with notification dated 1^st January ''16 issued under the Payment of Bonus Act, 1965 by Government of India with retrospective effect from 1^st April, 2014.

K. Fixed Assets includes expenditure amounting to Rs. 6,79,57,142/- (Previous Year Rs. 6,79,57,142/-) on building incurred by the company in connection with setting up 57 bedded hospital at Noida (U.P.). The hospital has been set up on land taken on lease by SABCO Medicare (P) Limited from Noida Authority. The rights of the lease deed has been acquired through an assignment deed in favour of the company from Apollo Hospital Enterprises Limited who are the Sub-lessee. Depreciation on such building has been charged over the period of lease.

L. In accordance with the Accounting Standard, AS-28 on Impairment of Assets, the company has assessed whether any indications with regard to impairment of any assets exists as on the Balance Sheet date. Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

M. Pursuant to sub section (5) of section 135 of the Companies Act, 2013, the Company was required to spend Rs. 99,53,284/- (Previous Year Rs. 93,10,407/-) in respect of its “Corporate Social Responsibility Policy (CSR Policy)” on eligible activities. During the financial year, the company has spent Rs. 49,69,579/- (Previous Year Rs. 11,69,000/-) on such eligible activities.

S. The company is engaged in the healthcare business, which in context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is considered the only business segment.

T. All figures have been rounded off to the nearest rupee.

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Mar 31, 2015

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 29,425,075 ( Previous Year Rs. 31,017,729/-).

B. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 375,460,000 (Previous Year Rs. 357,510,000/-) and interest thereon. This represents suits filed against the company and the consultant doctor. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

i) Letters of credit / Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 47,732,588/- (Previous Year Rs. 7,179,275/-).

C. Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 154,780,000/- out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company. As at 31st March, 2015, the aforesaid fund, together with interest thereon amounting to Rs. 192,357,946/- have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

D. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon'ble Delhi High Court vide its order dated 22nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon'ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon'ble Delhi high court. The Hon'ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt, of Delhi for free treatment in the Hospital. As the matter is sub judice, the financial impact in the matter can be quantified only upon a decision by the Hon'ble Supreme Court of India.

E. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31st March, 2015 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 324,911,605- (Previous Year Rs. 354,358,366/-) and the weighted average number of equity share is 91,673,000 (Previous Year 91,673,000) for this purpose.

F. The Company has no suppliers who fall into the category of Micro, Small and Medium Enterprises as defined in "The Micro, Small and Medium Enterprises Development Act, 2006". Hence there is no amount due to Micro, Small and Medium Enterprises for the year ended 31st March, 2015 (Previous Year Rs. Nil).

G. Fixed Assets includes expenditure amounting to Rs. 67,587,227/- (Previous Year Rs. 67,587,227/-) on building incurred by the company in connection with setting up 57 bedded hospital at Noida (U.P). The hospital has been set up on land taken on lease by SABCO Medicare (P) Limited from Noida Authority. The rights of the lease deed has been acquired through an assignment deed in favour of the company from Apollo Hospital Enterprises Limited who are the Sub-lessee. The Sub-let agreement between SABCO and Apollo Hospital Enterprises Limited is due for renewal. Depreciation on such building has been charged over the period of lease.

H. Depreciation for the year has been provided on Straight Line Method on the basis of useful lives specified in Schedule-ll of the Companies Act, 2013 as against the amount of depreciation calculated on the basis of rates of depreciation in respect of various assets contained in Schedule XIV to the Companies Act, 1956.

In view of this change, carrying amounts of various tangible fixed assets as at 1st April, 2014 after retaining the residual value, an amount of Rs. 76,452,325/- has been recognised in the opening balance of retained earning net of deferred tax of Rs. 25,986,145/- where the useful life of an asset is nil. In other cases, the carrying amounts as at 1st April, 2014 have been depreciated over the revised remaining useful life of asset as per Schedule II or the remaining useful life determined by the company. The depreciation for the year is lower to the extent of Rs. 16,059,059/- on account of this change and accordingly the profit for the year is higher by Rs. 16,059,059/-.

I. Stores and Spares consumed includes Rs. NIL (Previous Year Rs. 39,819,250/-) on account of write off in respect of unutilised export benefit due to significant uncertainty as to their ultimate collection as on 31st March, 2015.

J. In accordance with the Accounting Standard, AS-28 on Impairment of Assets, the company has assessed whether any indications with regard to impairment of any assets exists as on the Balance Sheet date. Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

K. A Sum of Rs. NIL (Previous year Rs. 4,693,544) is included under other expenses representing Net Prior Period Items.

L. Pursuant to sub section (5) of section 135 of the Companies Act, 2013, the Company was required to spend Rs. 93,10,407/- in respect of its "Corporate Social Responsibility Policy (CSR Policy)" on eligible activities. During the financial year, the company has spent Rs. 11,69,000/- on such eligible activities.

M. The company is engaged in the healthcare business, which in context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is considered the only business segment.

N. All figures have been rounded off to the nearest rupee.

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Mar 31, 2014

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 31,017,729 (Previous Year Rs. 29,042,064/-).

B. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 357,510,000 (Previous Year Rs. 374,943,000/-) and interest thereon. This represents suits filed against the company and the consultant doctor. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Letters of credit / Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 7,179,275/- (Previous Year Rs. 25,840,509/-).

C. Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 154,780,000/- out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company. As at 31st March, 2014, the aforesaid fund, together with interest thereon amounting to Rs. 192,357,946/- have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

D. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon''ble Delhi High Court vide its order dated 22nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon''ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon''ble Delhi high court. The Hon''ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt. of Delhi for free treatment in the Hospital.

H. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31st March, 2014 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 354,358,366/- (Previous Year Rs. 287,648,863/-) and the weighted average number of equity share is 91,673,000 (Previous Year 91,673,000) for this purpose.

I. The Company has no suppliers who fall into the category of Micro, Small and Medium Enterprises as defined in "The Micro, Small and Medium Enterprises Development Act, 2006". Hence there is no amount due to Micro, Small and Medium Enterprises for the year ended 31st March, 2014 (Previous Year Rs. Nil).

J. Fixed Assets includes expenditure amounting to Rs. 67,587,227/- (Previous Year Rs. 67,587,227/-) on building incurred by the company in connection with setting up 57 bedded hospital at Noida (U.P.). The hospital has been set up on land taken on lease by SABCO Medicare (P) Limited from Noida Authority. The rights of the lease deed has been acquired through an assignment deed in favour of the company from Apollo Hospital Enterprises Limited who are the Sub-lessee. The Sub-let agreement between SABCO Medicare (P) limited and Apollo Hospital Enterprises Limited is due for renewal .

K. Stores and Spares consumed includes Rs. 39,819,250/- on account of write off in respect of unutilised export benefit due to significant uncertainty as to their ultimate collection as on 31st March, 2014.

L. In accordance with the Accounting Standard , AS-28 on Impairment of Assets , the company has assessed whether any indications with regard to impairment of any assets exists as on the Balance Sheet date .Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

M. A Sum of Rs. 4,693,544/- (Previous year Rs. NIL) is included under other expenses representing Net Prior Period Items.

S. The company is engaged in the healthcare business, materials consumed are of varied nature and include items of food, beverages, medical consumables etc. Therefore it is not feasible to give the details as required under Part II of Schedule VI to the Companies Act, 1956.

T. The company is engaged in the healthcare business, which in context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is considered the only business segment.

U. All figures have been rounded off to the nearest rupee.

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Mar 31, 2013

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 29,042,064/- ( Previous Year Rs. 28,401,276/- ).

B. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 374,943,000/- (Previous Year Rs. 365,226,000/-) and interest thereon. This represents suits filed against the company and the consultant doctors. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Letters of credit / Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 25,840,509/- (Previous Year Rs. 15,051,523/-).

iii) In respect of other matters Rs. 55,685,726/- (Previous Year 55,685,726/-).

C. Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 154,780,000 out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company.

As at 31st March, 2013, the aforesaid fund, together with interest thereon amounting to Rs. 192,357,946 have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

D. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon''ble Delhi High Court vide its order dated 22nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon''ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon''ble Delhi high court. The Hon''ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt. of Delhi for free treatment in the Hospital.

E. The company had filed application for determination of question of law under section 84 of the Delhi Value Added Act,2004 (VAT) before the Commissioner, Trade and Taxes, Delhi (CTT) regarding the applicability of VAT to the hospitals, inter alia, in respect of medicines and consumables administered by the hospitals in the course of medical treatment to its patients.

The CTT has vide its order dated 17th March, 2006 in this regard held that VAT would be applicable to the hospitals in respect of the aforesaid. The company preferred an appeal against aforesaid order of the CTT before Delhi VAT Tribunal. The matter is now pending before Delhi VAT Tribunal.

F. Travelling and conveyance includes Rs. 1,336,562/- (Previous year Rs. 406,408/-) on account of Directors'' travelling.

G. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31st March, 2013 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 287,648,863/- (Previous Year Rs. 269,960,505/-) and the weighted average number of equity share is 91,673,000 (Previous Year Rs. 91,673,000) for this purpose.

H. The Company has no suppliers who fall into the category of Micro, Small and Medium Enterprises as defined in "The Micro, Small and Medium Enterprises Development Act, 2006". Hence there is no amount due to Micro, Small and Medium Enterprises for the year ended 31st March, 2013 (Previous Year Rs. Nil).

I. Fixed Assets includes expenditure amounting to Rs. 67,587,227/- (Previous Year 67,587,227/-) on building incurred by the company in connection with setting up 57 bedded hospital at Noida (U.P.). The hospital has been set up on land taken on lease from Noida Authority. The rights of the lease deed has been acquired through an assignment deed in favour of the company from Apollo Hospital Enterprise Limited, who are the sub-lessee.

J. In accordance with the Accounting Standard, AS-28 on Impairment of Assets , the company has assessed whether any indications with regard to impairment of any assets exists as on the Balance Sheet date. Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

K. The company is engaged in the healthcare business, materials consumed are of varied nature and include items of food, beverages, medical consumables etc. Therefore it is not feasible to give the details as required under Part II of Schedule VI to the Companies Act, 1956.

L. The company is engaged in the healthcare business, which in context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is considered the only business segment.

M. All figures have been rounded off to the nearest rupee.

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Mar 31, 2012

1. Share Capital

a. Terms/Rights attached to Equity Shares.

The company has only one class on Equity Shares having par value of Rs. 10/- per share. Each holder of Equity Shares is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the shareholders in ensuing General Meeting. During the year ended 31st March, 2012 the amount of per share dividend recognised as distribution to equity shareholders was Rs. 1.60 (Previous year Rs. 1.60)

In the event of liquidation of the company Equity shareholders will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts.

b. Shares held by holding/ultimate holding company and/or their subsidiaries/associates

There is no holding/ultimate holding company of the company

c. The company has not issued any shares for consideration other than cash, bonus shares and no shares have been bought back during the period of five years immediately preceding the reporting date.

2. Long-Term Borrowings

a. Term loan from Indusind Bank Limited was taken during the financial year 2010-11 and carries interest @ 11.50% p.a. The loan is repayable in 16 quarterly instalments of Rs. 18,750,000/- each, starting from the end of moratorium period (15 Months) from the date of first disbursement. The loan is secured by exclusive charge on the medical equipment and other movable fixed assets funded from the term loan and subservient charge on the movable fixed assets both present and future.

b. Term loan from Ge Capital Services India was taken during the financial year 2010-11 and carries interest @ 9.40% p.a. The loan is repayable in 15 quarterly instalments of Rs. 18,333,333/- each from the date of the loan. The loan is secured by exclusive charge on the medical equipment and other movable fixed assets funded from the term loan and subservient charge on the movable fixed assets both present and future.

A. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 28,401,276/- (Previous Year Rs. 127,188,801/-).

B. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 365,226,000/- (Previous Year Rs. 344,536,255/-) and interest thereon. This represents suits filed against the company and the consultant doctors. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Letters of credit/Bank guarantees outstanding on account of stores/spares and medical equipment amounting to Rs. 15,051,523/- (Previous Year Rs. 14,592,492/-).

iii) In respect of other matters Rs. 55,685,726/- (Previous Year 45,636,564/-).

C. Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 154,780,000 out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company.

As at 31st March, 2012, the aforesaid fund, together with interest thereon amounting to Rs. 192,357,946 have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

D. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon'ble Delhi High Court vide its order dated 22nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon'ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon'ble Delhi high court. The Hon'ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt. of Delhi for free treatment in the Hospital.

E. The company had filed application for determination of question of law under section 84 of the Delhi Value Added Act,2004 (VAT) before the Commissioner, Trade and Taxes, Delhi (CTT) regarding the applicability of VAT to the hospitals, inter alia, in respect of medicines and consumables administered by the hospitals in the course of medical treatment to its patients.

The CTT has vide its order dated 17th March, 2006 in this regard held that VAT would be applicable to the hospitals in respect of the aforesaid. The company preferred an appeal against aforesaid order of the CTT before Delhi VAT Tribunal. The matter is now pending before Delhi VAT Tribunal.

F. Travelling and conveyance includes Rs. 406,408/- ( Previous year Rs. 1,281,105/- ) on account of Directors' travelling.

I. The Basic earning per share (EPS) disclosed in the Statement of Profit and Loss has been calculated by dividing the net profit for the year ended 31st March, 2012 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 269,960,505/- (Previous Year Rs. 307,249,066/-) and the weighted average number of equity share is 91,673,000 for this purpose.

G. The Company has no suppliers who fall into the category of Micro, Small and Medium Enterprises as defined in "The Micro, Small and Medium Enterprises Development Act, 2006". Hence there is no amount due to Micro, Small and Medium Enterprises for the year ended 31st March, 2012 (Previous Year Rs. Nil).

H. Fixed Assets includes expenditure amounting to Rs. 67,587,227/- (Previous Year 66,547,919/-) on building incurred by the company in connection with setting up 57 bedded hospital at Noida (U.P.). The hospital has been set up on land taken on lease from Noida Authority. The rights of the lease deed has been acquired through an assignment deed in favour of the company by Apollo Hospital Enterprise Limited, who are the sub- lessee.

I. In accordance with the Accounting Standard, AS-28 on Impairment of Assets, the company has assessed whether any indications with regard to impairment of any assets are present as on the Balance Sheet date. Based on such assessment, it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

J. Materials consumed are of varied nature and include items of food, beverages, medical consumables etc. Therefore it is not feasible to give the details as required under part II of schedule VI to the Companies Act, 1956.

K. The company is engaged in the healthcare business, which in context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is considered the only business segment.

L. All figures have been rounded off to the nearest rupee.

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Mar 31, 2011

1. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 127,188,801/- (Previous Year Rs. 281,155,193/-).

2. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 344,536,255/- (Previous Year Rs. 335,330,000/-) and interest thereon. This represents suits filed against the company and the consultant doctors. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Letters of credit / Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 14,592,492/- ( Previous Year Rs. 23,805,634/- ).

iii) In respect of other matters Rs. 45,636,564/- (Previous Year NIL).

3. The appeal filed by the company against assessment of property tax by MCD, was decided by the Additional District Judge, Delhi on 17th April, 2004 remanding the case to MCD for reassessment on the basis of directions set out in the said order.

During the year ended 31st March, 2011, assessment was carried out by MCD and as per assessment order, an amount of Rs. 61,560,927/- is assessed as property tax liability up to 31st March 2004. The provision made in the books upto 31st March, 2004 was Rs. 83,693,078/-. This has resulted in writing back of provision to Profit and Loss Account amounting to Rs. 22,132,151/-.

Further the company has provided Rs. 3,465,389/- ( Previous year Rs. 2,968,053/- ) against property tax liability for the year ended 31st March, 2011 as per unit area method of calculating the property tax.

4. Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 154,780,000 out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company. As at 31st March, 2011, the aforesaid fund, together with interest thereon amounting to Rs. 192,357,946 have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

5. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon'ble Delhi High Court vide its order dated 22nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon'ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon'ble Delhi high court. The Hon'ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt. of Delhi for free treatment in the Hospital.

6. The company had filed application for determination of question of law under section 84 of the Delhi Value Added Act,2004 (VAT) before the Commissioner, Trade and Taxes, Delhi (CTT) regarding the applicability of VAT to the hospitals, inter alia, in respect of medicines and consumables administered by the hospitals in the course of medical treatment to its patients.

The CTT has vide its order dated 17th March, 2006 in this regard held that VAT would be applicable to the hospitals in respect of the aforesaid. The company preferred an appeal against aforesaid order of the CTT before Delhi VAT Tribunal. The matter is now pending before Delhi VAT Tribunal.

7. Travelling and conveyance includes Rs. 1,281,105/- ( Previous year Rs. 754,914/- ) on account of Directors' travelling.

8. Other Income include Rs. 39,972,666/- (Previous Year NIL) on account of export benefits under Served From India, Scheme.

9. (a) For the current year ended 31st March, 2011 timing differences have resulted in a net deferred tax expense amounting to Rs. 24,888,359/-, which is adjusted to the provision for taxation for the year.

10. The Basic earning per share (EPS) disclosed in the profit and loss accounts has been calculated by dividing the net profit for the year ended 31st March, 2011 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 307,249,066/- (Previous Year Rs. 310,600,687/-) and the weighted average number of equity share is 91,673,000 for this purpose.

11. There was a fire in oncology department on 3rd May, 2010 and a medical equipment suffered extensive damage. The said equipment was insured at reinstatement value. The compensation of Rs. 98,514,210/- received in this regard in the current year from the insurance company has been utilised for the purchase of new medical equipment. The written down value of the medical equipment as at 31st March, 2010 was Rs. 55,558,506/- and written down value on the date of loss was Rs. 54,779,750/-. The excess of claim received from the insurance company over the written down value of the asset as appearing in Profit and Loss Account has been shown as compensation received (Net) in other income.

12. The Company has no suppilers who fall into the category of Micro, Small and Medium Enterprises as defined in "The Micro, Small and Medium Enterprises Development Act, 2006". Hence there is no amount due to Micro, Small and Medium Enterprises for the year ended 31st March, 2011 (Previous Year Rs. Nil).

13. Fixed Assets includes expenditure amounting to Rs. 66,547,919/- (Previous Year 66,125,840/-) on building incurred by the company in connection with setting up 57 bedded hospital at Noida (U.P.). The hospital has been set up on land taken on lease from Noida Authority. The rights of the lease deed has been acquired through an assignment deed in favour of the company by Apollo Hospital Enterprise Limited, who are the sub- lessee.

14. In accordance with the Accounting Standard , AS-28 on Impairment of Assets , the company has assessed whether any indications with regard to impairment of any assets are present as on the Balance Sheet date. Based on such assessment , it has been ascertained that there are no such indications and thereby no formal estimate of the recoverable amount has been made.

15. a) Computation of Net Profit under section 198 read with section 349 of the Companies Act, 1956, for the purpose of commission payable to the Non-Executive Directors.

16. Materials consumed are of varied nature and include items of food, beverages, medical consumables etc. Therefore it is not feasible to give the details as required under part II of schedule VI to the Companies Act, 1956.

17. The company is engaged in the healthcare business, which in context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is considered the only business segment.

18. Previous year figures have been regrouped/rearranged wherever necessary.

19. Schedule 1 to 10 form an integral part of the Balance Sheet and Profit & Loss Account and have been authenticated as such.

20. All figures have been rounded off to the nearest rupee.

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Mar 31, 2010

1. Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs. 281,155,193/- ( Previous Year Rs. 45,009,299/- ).

2. Contingent Liability

i) Claims against the company not acknowledged as debt Rs. 335,330,000/- ( Previous Year Rs. 416,721,000/-) and interest thereon. This represents suits filed against the company and the consultant doctors. Based on the facts and circumstances, possibility of any of the claims resulting in a major financial loss to the company is remote. Notwithstanding above, the company is adequately insured to mitigate the possibility of any loss.

ii) Letters of credit / Bank guarantees outstanding on account of stores / spares and medical equipment amounting to Rs. 23,805,634/- ( Previous Year Rs. 44,619,072/- ).

3. The appeal filed by the company against assessment of property tax by MCD, has been decided by the Additional District Judge, Delhi on 17th April, 2004 remanding the case to MCD for reassessment on the basis of directions set out in the said order.

The Company had provided Rs. 83,693,078/- against property tax liability up to 31st March, 2004. The Company has been advised by their legal counsel that on the basis of facts and the directions given by the Honorable Judge, the Company’s liability is not likely to exceed the amount provided for the said liability in the books of account.

Further the company has provided Rs. 2,968,053/- ( Previous Year Rs. 2,968,053/- ) against property tax liability for the year ended 31st March, 2010 as per unit area method of calculating the property tax.

4. Under the terms of the agreement between the Government of NCT of Delhi and the company, the Hospital project of the company has been put up on the land belonging to Government of NCT of Delhi. The Government of NCT of Delhi is committed to meet the expenditure to the extent of Rs. 154,780,000 out of IMCL Building fund account (funds earmarked for the period) together with the interest thereon for construction of definite and designated buildings while the balance amount of the cost of the building will be borne by the Company. As at 31st March, 2010, the aforesaid fund, together with interest thereon amounting to Rs. 192,357,946 have been utilized towards progress payments to contractors, advances to contractors, payments for materials, etc. The ownership of the building between Government of NCT of Delhi and the company will be decided at a future date keeping in view the lease agreement.

5. On a Public Interest Litigation (PIL) regarding free treatment in the hospital the Hon’ble Delhi High Court vide its order dated 22nd September, 2009 has held that free treatment provided by the hospital as per the terms of lease deed with Government of National Capital Territory of Delhi shall be inclusive of medicines and consumables. In response to the said order the company filed a Special Leave Petition in the Hon’ble Supreme Court for appropriate directions with a prayer to stay the judgment of the Hon’ble Delhi High Court. The Hon’ble Supreme Court of India has admitted the Special Leave Petition and passed an interim order on 30.11.2009. In pursuance of the interim order, the Hospital is charging for medicines & medical consumables from patients referred by the Govt. of Delhi for free treatment in the Hospital.

6. The company had filed application for determination of question of law under section 84 of the Delhi Value Added Act,2004 (VAT) before the Commissioner, Trade and Taxes, Delhi (CTT) regarding the applicability of VAT to the hospitals, inter alia, in respect of medicines and consumables administered by the hospitals in the course of medical treatment to its patients.

The CTT has vide its order dated 17th March, 2006 in this regard held that VAT would be applicable to the hospitals in respect of the aforesaid. The company preferred an appeal against aforesaid order of the CTT before Delhi VAT Tribunal. The matter is now pending before Delhi VAT Tribunal.

7. Travelling and conveyance includes Rs. 754,914/- ( Previous Year Rs. 838,047/- ) on account of Directors’ travelling.

8. Other Income include Rs. Nil (Previous Year Rs.44,597,578/-) on account of export benefits under Served From India, Scheme.

9. The Basic earning per share (EPS) disclosed in the profit and loss accounts has been calculated by dividing the net profit for the year ended 31st March, 2010 attributable to equity shareholders by the weighted average number of equity shares outstanding during the said financial year. The net profit attributable to equity share holders is Rs. 31,06,00,687/- and the weighted average number of equity share is 91,673,000 for this purpose.

10. The Company has no suppilers who fall into the category of Micro, Small and Medium Enterprises as defined in “The Micro, Small and Medium Enterprises Development Act, 2006”. Hence there is no amount due to Micro, Small and Medium Enterprises for the financial year ended 31st March, 2010 (Previous Year Rs. Nil).

11. Materials consumed are of varied nature and include items of food, beverages, medical consumables etc. Therefore it is not feasible to give the details as required under part II of schedule VI to the Companies Act, 1956.

12. The company is engaged in the healthcare business, which in context of Accounting Standard 17 issued by the Institute of Chartered Accountants of India is considered the only business segment.

13. Previous year figures have been regrouped/rearranged wherever necessary.

14. Schedule 1 to 10 form an integral part of the Balance Sheet and Profit & Loss Account and have been authenticated as such.

15. All figures have been rounded off to the nearest rupee.