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Apollo Hospitals Enterprise Ltd

BSE Code : 508869 | NSE Symbol : APOLLOHOSP | ISIN:INE437A01024| SECTOR : Healthcare |

NSE BSE
 
SMC up arrow

4,691.65

46.85 (1.01%) Volume 280564

21-Jan-2022 EOD

Prev. Close

4,644.80

Open Price

4,649.95

Bid Price (QTY)

4,691.65(100)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 4,733.75 - 4,544.85

52 wk High/Low 5,935.40 - 2,528.10

Key Stats

MARKET CAP (RS CR) 67446.51
P/E 119.03
BOOK VALUE (RS) 382.2238369
DIV (%) 60
MARKET LOT 1
EPS (TTM) 39.41
PRICE/BOOK 12.2723900163957
DIV YIELD.(%) 0.06
FACE VALUE (RS) 5
DELIVERABLES (%) 34.18
4

News & Announcements

20-Jan-2022

Apollo Hospitals Enterprise Ltd - Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011

19-Jan-2022

Apollo Hospitals Enterprise Ltd - Apollo Hospitals Enterprise Limited - Loss of Share Certificates

17-Jan-2022

Apollo Hospitals Enterprise Ltd - Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations 2011.

17-Jan-2022

Apollo Hospitals Enterprise Ltd - Apollo Hospitals Enterprise Limited - Loss of Share Certificates

26-Oct-2021

Apollo Hospitals Enterprise schedules board meeting

04-Aug-2021

Apollo Hospitals Enterprise to announce Quarterly Result

22-Jul-2021

Apollo Hospitals Enterprise to hold AGM

24-Jun-2021

Board of Apollo Hospitals Enterprise approves transfer of undertaking

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

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Centenial Surgical Suture Ltd 531380
Chennai Meenakshi Multispeciality Hospital Ltd 523489
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Iswar Medical Services Ltd 507480 ISWARMEDIC
Kemwell International Ltd 530827
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Kids Medical Systems Ltd 540812
KMC Speciality Hospitals (India) Ltd 524520
Kovai Medical Center & Hospital Ltd 523323 KOVAI
Krishna Institute of Medical Sciences Ltd 543308 KIMS
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Opto Circuits (India) Ltd 532391 OPTOCIRCUI
Poly Medicure Ltd 531768 POLYMED
Pramila Kidney Hospitals Ltd 40265
Prevest Denpro Ltd 543363
Raaj Medisafe India Ltd 524502
Regency Hospital Ltd 526403
Safire Global Medicare Ltd 524418 CDRMEDICAL
Sangam Health Care Products Ltd 531625
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Secunderabad Healthcare Ltd 524540
Shalby Ltd 540797 SHALBY
Sharma East India Hosp and Medical Research Ltd 524548
Shiva Medicare Ltd 524602
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Siemens Healthcare Diagnostics Ltd(merged) 506559
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Surlux Diagnostic Ltd 507854
Surlux Health Centres Ltd 523265
Surlux Mediquip Ltd 523515
Tamilnad Hospital Ltd 523443
Tejnaksh Healthcare Ltd 539428
Thyrocare Technologies Ltd 539871 THYROCARE
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Transmedica (India) Ltd 526461
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Vijaya Diagnostic Centre Ltd 543350 VIJAYA

Share Holding

Category No. of shares Percentage
Total Foreign 76526311 53.22
Total Institutions 17495064 12.17
Total Govt Holding 323708 0.23
Total Non Promoter Corporate Holding 423612 0.30
Total Promoters 42175002 29.33
Total Public & others 6840960 4.76
Total 143784657 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Apollo Hospitals Enterprise Ltd

Apollo Hospitals Enterprise Limited (AHEL) is a leading private sector healthcare provider in Asia. It has a robust presence across the healthcare ecosystem, including Hospitals, Pharmacies, Primary Care & Diagnostic Clinics. As on 31 March 2020, AHEL had a network of 71hospitals with total bed capacity of 10261. The total number of pharmacies as on 30 September 2020 was 3850. AHEL's hospitals are situated in Chennai, Hyderabad, Delhi, Ahmedabad, Pune, Chenganur, Coimbatore, Jaipur, Madurai, Anantpur, Nellore, Kurnool, Bhopal, Ranchi, Bilaspur and Bacheli. Apollo Hospitals Enterprise Limited was incorporated as a Public Limited Company in the year 1979, a comprehensive 250-bed hospital with an emphasis on speciality and super specialties in over fifty departments at Chennai. Dr. Prathap C Reddy promoted it. 46 beds were added in the year 1985. It is the first group of hospitals that pioneered the concept of corporate healthcare delivery in India. The Apollo Health Association (AHA) was inaugurated in April of the year 1986, based on credit card system. As per this scheme, the Apollo health insurance policyholders get Medicare offered by Apollo and 76 accredited hospitals in selected cities. The hospital was equipped with Magnetic Resonance Imaging (MRI) during the year 1989, also with SOMATOMCR whole body computed Tomography scanner, Dideoendoscopy and Mammography, breast-scanning equipment for the detection of occult carcinoma. During the same year 1989, AHEL group had finalised a joint venture project with the I.R.T.C. of Eye Micro Surgery, USSR to launch the Apollo Fyodorov Eye Research Institute. Apart from the hospital activities, The Apollo School of nursing was commissioned in August of the year1991, which offers a 3-year diploma programme followed by internship in the hospital. During the year 1992, 16 intensive care beds and 26 additional patient beds together with balancing equipment were added in various disciplines. Also a 24-hour ambulance service with wireless facility was to be launched. Apollo cancer hospital was commissioned with 150-beds for cancer treatment and research centre in Chennai during the period of 1993. Further, AHEL had introduced state-of-the-art Bone Marrow transplant facility in Phase II expansion of cancer project. A third theater was added for cardio thoracic surgery in the year of 1994. As at 19th February of the year 1995, another one wing was added, Cancer hospital in Hyderabad was inaugurated. In the same year 1995, AHEL had joined hands with the WHO with its mission to eradicate Tuberculosis in India. With takeover of Orient Hospital, Madurai and Pinakini Hospital, Nellore, the Company had added 300 more beds in the year 1996 and the Apollo College of Nursing at Keezhkattalai was inaugurated on 21st October of the same year. AHEL had signed a memorandum of understanding with Jardine of UK for successful adaptation of the health maintenance organisations (HMO) in the year 1997, a concept for the first time in India. A year after, in 1998, also signed a memorandum of understanding with the Sri Lankan Government to build a super-speciality hospital in Colombo. It was the first time the speciality hospital group ventured abroad with investments. AHEL had opened a unit for the Kidney disorders; it was inaugurated in April of the year 1998 with the expansion in this facility for better and newer techniques in treatment. In 1999, Apollo had launched its first poison information centre in the south of the India. Indian Oil Corporation Ltd (IOCL) and AHEL had signed a memorandum of understanding (MoU) in the year 2000 for setting up pharmaceutical general stores at the convenience stores of Indian Oil petrol stations. Apollo and Royal College of General Practioners made a tie-up in the period of 2000 to launch three programmes for revalidating and updating the knowledge of primary healthcare physicians in India. The company also inked an in-principle deal with the Singapore-based Parkway group, the global leader in healthcare business, to spread its wings to Afro Asian countries. In the same year AHEL had launched a personal accident insurance card and commissioned the Italian Dental Clinic. The amalgamation of Indian Hospitals Corporation (IHCL), Om Sindoori Hotels (OSHL) with the company has been approved; also Deccan Hospital Corporation (DHCL) has been amalgamated with company. In 2001, the company signed a memorandum of understanding with the government of Mauritius, appointing the Apollo Hospitals Group as the preferred healthcare provider for all the citizens of Mauritius and in the identical year, made a tie-up with a local hospital initially to deliver mother and child care. During the year 2002, the hospital has taken over the 50.26 per cent of stake held by the Gauri Prasad Goenka in the Duncan Gleneagles Hospital for the consideration of Rs 3 crore. In 2003, AHEL made tie up with ICICI Lombard and unveiled an accident insurance product. Apollo launched a dedicated pediatric cardiac facility for children and sets up a 24X7 Chest Pain Clinic to offer round the clock and immediate access to quality heart care during the critical period. AHEL had entered into a major technology partnership with the Defence Research & Development Organisation (DRDO) to leverage mutual strengths during the period of 2004. Launched the Apollo National Heart Plan' comprising three components of the preventive mode, a disease management programme (DMP) and the actual treatment and surgery component. And also in the same year, it made a partnership to provide advisory services to Hayel Saeed Anam (HSA) group, Yemen. Apollo Hospital Delhi gets JCI certification for its quality of care in a safe environment in the year 2005. In the same year, it forged alliance with Histotem and joined hands with Johns Hopkins. AHEL singed the Joint Venture Agreement with Deutsche Krankenversicherung AG (DKV) for setting up the Health Insurance Business in October 11 of the year 2006. AHEL had signed an agreement with Cadila Pharmaceuticals Limited as a partner in Apollo Hospitals International Limited, Ahmedabad. Also in the year the hospital had acquired the Zavata. The week magazine rated the Apollo Hospitals as the Best Private Sector Hospital in India for the year 2006. As at June 15th 2007, AHEL launched Health City, the first of its kind in Asia, at Hyderabad, an integrated healthcare delivery facility, spread over 33 acres, to cover disease prevention, management, wellness and research. As at January 2008, the hospital has signed an agreement with Hindustan Construction Co (HCC), a real estate firm, to set up the medicity inside the upcoming hill station named Lavasa in Maharashtra. With an eye on foreign patients, Apollo Hospitals is setting up a medicity near Pune that will offer 'first rate ayurveda treatment'. The Apollo and BAI Medical Centre Ltd, a subsidiary of British American Investment Co (Mtius) Ltd Made a JV in February of the year 2008 to set up a hospital in Mauritius. Apollo Hospitals Enterprise Ltd (AHEL) and Quintiles Mauritius Holdings Inc., (Quintiles) entered into a Shareholders Agreement on 27 January 2009 for setting up a Phase I clinical trial research facility in Hyderabad at an estimated cost of USD 6 million, through a separate joint venture company to be formed for this purpose. Quintiles and AHEL will be funding the project cost in the ratio of 60-40 respectively through a combination of debt and/or equity. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 28 January 2010 approved the allotment of 1,500 Unsecured Foreign Currency Convertible Bonds (FCCB) of face value of USD 10,000 each aggregating to US$ 15 million with an option of convertible into equity shares at a price of Rs 605 per share to International Finance Corporation, Washington. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 28 May 2010 approved the sub-division of each existing equity share of nominal value of Rs 10 each into 2 equity shares of nominal value of Rs 5 each. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 9 December 2010 approved the allotment of 11.40 lakh equity shares to International Finance Corporation, Washington on conversion of Foreign Currency Convertible Bonds to the extent of US$ 7.50 million. These shares have been issued at a price of Rs 302.50 per share at a premium of 14% over the floor price determined as per the FCCB Scheme, 1993 (after the subdivision of each equity share of face value of Rs. 10/- per share into two equity shares of face value of Rs. 5/- each) and in accordance with the terms of the FCCB Loan Agreement dated 18 June 2009. On 18 July 2011, Apollo Hospitals Enterprise closed qualified institutional placement of equity shares. The company will issue 66.66 lakh equity shares at a price of Rs 495 per share to qualified institutional buyers for an amount aggregating Rs 330 crore. On 7 June 2012, Apollo Hospitals Enterprise announced that International Finance Corporation (IFC), Washington had sent a communication to the company requesting for conversion of the balance loan amount of USD 7.50 million of the Foreign Currency Convertible Bonds (FCCBs) into equity shares. In this regard, committee of the Board of Directors at its meeting held on 7 June 2012 approved the allotment of 13.81 lakh equity shares to International Finance Corporation, Washington. On 10 December 2012, Apollo Hospitals Enterprise announced that it has signed a definitive agreement with Sutherland Global Services, a global provider of business process and technology management services, to enable Sutherland Global Services acquire 100% of the shares of Apollo Health Street Limited (AHS), a leading provider of healthcare business services and world-class Health Information Technology (HIT) based solutions. AHS is an associate company of Apollo Hospitals Enterprise. This acquisition will position the combined organization as a leading healthcare service provider with comprehensive information technology and business process integrated solutions and consolidate its presence as a dominant player in the $38 billion US healthcare business process outsourcing (BPO). This also fosters Apollo Hospitals' strategic intent of focusing and growing its core healthcare delivery services. On 21 January 2013, Apollo Hospitals Enterprise announced its plans to establish a Proton Therapy Center in India, the first of its kind across South East Asia, Africa and Australia. This launch that marks the beginning of the next wave of advancement in radiation therapy in India is worth approximately Rs 400 crore, which covers the equipment and services supplied by IBA (Ion Beam Applications S.A.) to help establish the Apollo Proton Therapy Center including the long-term operation and maintenance contract. On 17 September 2014, Apollo Hospitals Enterprise announced that it has entered into an MoU with Hetero Med Solutions Limited (HMSL) for the acquisition of its retail pharmacy stores currently operated in Telengana, Andhra Pradesh and Tamilnadu. The acquisition would be in the form of purchase of the business undertaking, on a slump sale basis and comprises of 320 pharmacy stores, at an overall consideration not exceeding Rs 146 crore. This acquisition will further strengthen Apollo Pharmacy's leadership position in the industry. The addition of 320 stores are in existing core geographies where Apollo Pharmacy has a strong market presence and further consolidate its presence as a significant player in this region. Apollo Pharmacy plans to leverage its existing backend infrastructure to drive economies of scale, thereby accelerating profitability for these stores. This will also create an opportunity to increase the sales of Apollo private label products. Apollo Health and Lifestyle Limited (AHLL), a wholly owned subsidiary of Apollo Hospitals Enterprise, announced on 30 January 2014 that Sanofi-Synthelabo (India) Limited has invested into Apollo Sugar Clinics Limited (ASCL). ASCL is a disease management clinic focused on providing high quality, integrated care across its clinics for people with diabetes. An amount of Rs 90 crore is being invested by Sanofi-Synthelabo in this venture through a combination of primary and secondary funding. Earlier, on 30 September 2014, Apollo Hospitals Enterprise and Sanofi announced their decision to collaborate on the expansion of Apollo Sugar Clinics. On 6 January 2015, Apollo Health and Lifestyle Limited (AHLL), a wholly owned subsidiary of Apollo Hospitals Enterprise, announced that it has successfully completed the acquisition of Nova Specialty Hospitals. The deal size would be in the range of Rs 135-145 crore. Nova Specialty Hospitals' existing centres will serve as new centres under the Apollo brand name. The acquired chain of Nova Specialty Hospitals is spread over 8 cities and will add to the Apollo network 45 Modular OTs, over 350 patient beds, with an average 20,000 SFT of built-up space in each centre. These centres provide both In-patient and OPD services with 60% of the procedures currently being done as day procedures. The Board of Directors of Apollo Energy Company Ltd., an Apollo Hospitals Group Company, at its meeting held on 25 January 2016 approved the divestment of 23.3% shareholding in Apollo Munich Health Insurance Company Ltd. (Apollo Munich) to its joint venture partner, Munich Re of Germany for Rs 163.5 crore. Post consummation of the transaction, Apollo Hospitals Group's shareholding in Apollo Munich shall stand reduced from 74.4% to 51.1%. Correspondingly, Munich Re's shareholding in Apollo Munich shall increase to 48.7% and 0.2% stake will be held by employees. Apollo Hospitals shall continue to hold its stake in Apollo Munich. Apollo Munich Health Insurance is one of the largest private sector health insurance companies offering comprehensive health insurance plans for individuals, families, senior citizens and corporates. On 12 March 2016, Apollo Hospitals Enterprise announced that it has completed the acquisition of 51% majority stake in Assam Hospitals Limited, Guwahati for a cash consideration of Rs 57.25 crore which will be utilized for refurbishing the hospital including addition of new equipments as well as towards expansion of the existing hospital block. Assam Hospitals Limited which was incorporated in 1997 and commenced operations from 1999, is engaged in the business of healthcare services. It has a presence in Guwahati where it currently runs a 220 bed hospital facility. The objective of the acquisition is to strengthen Apollo Hospitals leadership position in the hospital space as well as enhance its presence in North eastern region where it already has strong brand equity. On 20 June 2016, Apollo Hospitals Enterprise and Hainan Ecological Smart City Group (HESCG), China signed a Memorandum of Understanding (MoU) to build a state-of-the art hospital in Hainan Province, China. HESCG will provide land, all investments for the construction, commissioning and equipping the hospital besides all operative expenses, while Apollo Hospitals Group would provide its services technical consulting, planning and commissioning of the hospital and post completion of the hospital, provide services for the operations and management of the hospital. Apollo Hospitals would also support in building the technical and management personnel, install it's acclaimed patient care clinical protocols and practices. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 1 September 2016 discussed and deliberated the possibility of considering and evaluating various options to restructure and reorganize the businesses of the company, by re-aligning the business lines as per verticals. The proposal for such restructuring is aimed at exploring options for improving operational efficiencies and augmenting further growth of the businesses in compliances with the applicable laws and creating greater flexibility through such restructuring and/or transfer of the existing businesses into separate legal entities, given the large opportunity that exits in the healthcare sector. On 1 December 2016, Apollo Hospitals Enterprise announced that International Finance Corporation (affiliated to the World Bank) along with associated entity, has made a primary equity infusion of Rs 450 crore thereby acquiring a 29.03% stake in Apollo Health and Lifestyle Limited (AHLL), earlier a wholly owned subsidiary of the company. The equity infusion will be utilized to finance AHLL's growth plans. AHLL is engaged in retail healthcare business encompassing primary health clinics, birthing centres, dental & dialysis centres, day surgery centres and sugar clinics. During the FY2017, the company has allotted 2000 Non Convertible Debentures of face value of Rs 1 million each to HDFC Bank Limited, 2,500 Non Convertible Debenture of face value of Rs 1 million each to Yes Bank Limited and 500 Non Convertible Debenture of face value of Rs 1 million each to Birla Sun Life Insurance Company Limited. The Company had reduced its equity stake to 40% from 100% in Apollo Healthcare Technology Solutions Limited (AHTSL) on 23rd January 2017. However AHTSL shall continue to be a subsidiary of the Company due to the definition of controlling interest between the companies as per Ind AS standards. One multi-speciality hospital at Navi, Mumbai was inaugurated during the year 2016-17. As on 31st March 2017, your Company had eighteen direct subsidiaries, four step down subsidiaries, three joint ventures, and four associate companies. During the FY2017,Apollo Hospital International Limited and Future Parking Private Limited have become the subsidiaries of the company. During the year, Apollo Hospitals, Chennai and Indraprastha Apollo Hospitals, New Delhi were awarded the top 2 positions in the All India Critical Care Hospital Survey 2017 by Times Health. As on 31st March 2019, the Company had nineteen direct subsidiaries, ten step down subsidiaries, four joint ventures and four associate companies. The Board of Directors at their meeting held on November 14, 2018 have approved a Scheme of Arrangement ('the Scheme') between Apollo Hospitals Enterprise Limited ('AHEL') and Apollo Pharmacies Limited ('APL') and their respective shareholders in accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013, for the transfer of the front-end retail pharmacy business ('the disposal group') carried out in the standalone pharmacy segment to APL by way of slump sale, subject to necessary approvals by stock exchanges, shareholders, National Company Law Tribunal and all other requisite regulatory authorities. Pursuant to the Scheme of Arrangement (the Scheme'), duly sanctioned by the National Company Law Tribunal (NCLT) vide order dated August 3, 2020, with effect from April 1, 2019 (Appointed date'), the front-end retail pharmacy included in the standalone pharmacy segmentis transferred to Apollo Pharmacies Limited ('APL'), a wholly owned subsidiary of Apollo Medicals Private Limited (AMPL) for an overall cash consideration of Rs.52,780 lakhs. In accordance with Section 230 of the Companies Act, the Company filed the NCLT order with the Ministry of Company Affairs (Registrar of Companies) on September 1, 2020. Consequentto the filing, the Scheme became effective from September 1, 2020 (effective date'). The Company holds 25.5% of the equity shares in AMPL as on the effective date. The Board of Directors at their meeting held on February 13, 2020 had approved the amalgamation of Apollo Home Healthcare (India) Limited and Western Hospitals Corporation Private Limited, wholly owned subsidiaries of the Company (hereinafter referred to as 'Transferor Companies') into Apollo Hospitals Enterprise Limited (Transferee Company) by way of a Scheme of Amalgamation between the Transferor Companies and the Transferee Company and their respective shareholders and creditors, in accordance with Sections 230 to 234 of the Companies Act, 2013. The amalgamation is subject to requisite statutory and regulatory approvals and sanction by the respective shareholders of each of the companies involved in the scheme. There will not be any change in the shareholding pattern of the Transferee Company pursuant to implementation of the Scheme of Amalgamation as the Transferor Companies are wholly owned subsidiaries of the Transferee Company. During the FY2020, Apollo Healthcare Technology Solutions Limited, a subsidiary of the Company had applied for strike off of its name to the Registrar of Companies on 19th March 2020. The Company had divested its entire equity stake in Apollo Munich Health Insurance Company Ltd (AMHIL) on 9th January 2020 and consequently. AMHIL has ceased to be an Associate Company. As on 31st March 2020, your Company had eighteen direct subsidiaries, ten step down subsidiaries, four joint ventures and three associate companies. Apollo Cancer Centre, Chennai has won Excellence in Quality Award 2020 by FICCI & Department of Health & Family Welfare, Government of Tamil Nadu in the 12th Edition of TANCARE 2020 in Chennai. The Board of Directors, in their meeting held on November 11, 2020 have approved the proposal for executing a definitive Share Purchase Agreement (SPA) for the acquisition of 50% equity stake held by Gleneagles Development PTE Limited, Singapore, in Apollo Gleneagles Hospital Limited, Kolkata ('AGHL'), a joint venture in which the Company holds a 50% equity stake, for a cash consideration of Rs 41,000 lakhs. The Board of Directors have approved the proposal to raise funds by way of issue of securities through preferential allotment and I or Qualified Institutional Placement (QIP) or any equivalent capital raising method permitted by applicable laws, subject to approval of the shareholders, up to a maximum aggregate limit of Rs. 150,000 lakhs. During the quarter ended 30 September 2020,the Board has approved the acquisition of additional 1% equity stake in Medics International Life Sciences Limited, a Joint Venture, in which it already holds a 50% equity stake, for a consideration of Rs. 398 lakhs. The company completed a QIP in January 2021,allotting an additional 4659498 equity shares at a price of Rs 2511 per share (premium of Rs 2506 per share) aggregating to a sum of Rs 116999.99 lakhs. On 07 January 2021,the company completed the acquisition of 1% additional stake in Medics International Life Sciences Limited, a Joint Venture,which runs a 330-bedded hospital in Lucknow. Consequently Medics has become the subsidiary of the company.

Apollo Hospitals Enterprise Ltd Chairman Speech

Dear Members,

The word Agility represents the power of moving quickly. It denotes nimbleness, briskness; activity; and quickness of motion. At Apollo it also means the power of innovation. The ability to transform a noun to an adverb because that is what Apollo did!

Together with the ability to innovate, it signifies the ability to be dynamic and, importantly for healthcare, it denotes the evolution of care to support all our patients in the most challenging times we have seen in several decades. While resilience is invisible, it is inculcated in our culture, in our value system. It is the combination of resilience and agility that has resulted in the new Apollo Healthcare delivery that goes beyond our infrastructure fiscaling clinical protocols, embracing digital health, and working to protect and serve societies by sharing best practices. We have been especially agile in bringing quality Apollo care to the masses in India through Telemedicine. In doing that, we have successfully broken geographic boundaries and increased access to healthcare. No other hospital in India has the range of health services that we offer through this medium.

The last fifteen months have clearly been one of the most challenging periods in our 37-year history, a period which placed unprecedented demands on healthcare systems everywhere around the world. But it has also been an exceptional and defining period for the sector, placing it at the forefront of the national narrative. In my career as a clinician for over six decades, I have witnessed doctors battling disease, every single day, together with their patients. There have been crises, situations that caused great panic, emergencies and alongside, enormous joy, every time a medical miracle was achieved and a precious life was saved almost miraculously. The COVID-19 crisis however, is an unparalleled medical crisis of a kind that I have never witnessed before as a doctor . It is one of the toughest challenges we have faced as a country.

Project Kavach - Our Response to COVID-19

Project Kavach is our Hospitals' multipronged strategy which we used to handle the pandemic. Under this, we deployed several unique strategies, such as an AI-based Covid-19 screener, the digital 24/7 integrated App for teleconsultations which we launched at the onset of the first wave, collection of samples from home for diagnostics, at-home health monitoring services and medication delivery, a multi-stakeholder partnership to provide medical care in hotel rooms across the country, and methods to rapidly update care protocols across our entire network to help reduce speed of transmission and mortality. In the process of looking after 63,000+ patients in our hospitals with outstanding clinical work, we have not lost touch with ground reality. My deep gratitude to the doctors and nurses and the team that made this possible.

I must commend the Government of India and the different State Governments for their efforts to contain the pandemic, be it in augmenting capacity for testing or driving a mammoth vaccination programme with two Made in India vaccines — the very best example of Atmanirbar.

The Future of Healthcare

The future of healthcare infrastructure is going to be founded on technology. The new paradigm has to be patient-centric. The convergence of AI and Biotech together with Research and Innovation, will create personalised curated healthcare for individuals, helping them lead long, productive lives.

Public Private Partnerships in healthcare delivery need strong support. We have worked with 16 state governments and the Center during the pandemic and have strong PPP models in several states to deliver telemedicine.

Apollo 24/7

Apollo 24/7, our digital healthcare platform, is a transformational offering. It is India's first Digital Omnichannel, which places the consumer first in its value chain of offerings. The App makes Apollo expertise available to everyone, regardless of their physical location. Secure on-line consults, consultation bookings, medicine orders from an Apollo Pharmacy close to their home for delivery at their doorstep in two hours, are some of its key features.

Non Communicable Diseases

Non Communicable Diseases — cardiac diseases, strokes, diabetes, and cancer, are a big threat to the health of our nation. It is estimated that 1 in

10 Indians suffers from an NCD and that is very worrying, especially as the prevalence is increasing amongst the 25–55 year-olds. Every 7th mortality in India is due to an NCD. India cannot afford this devastation. However, NCDs are preventable. An end-to-end approach to combat NCDs, has a prime focus on preventive healthcare. Timely detection with personalized care and risk prediction can help mitigate potential health issues at an early stage.

Apollo ProHealth is our proactive and personalized health management system which we have launched using the learnings from the roughly 22 million health checks that we have carried out in our hospitals. Using Artificial Intelligence and health analytics to predict and prevent health risks through appropriate clinical and lifestyle interventions, it keeps people out of the hospital. It offers a plan to make you healthier tomorrow, than you are today.

All our initiatives have resulted in strong financial results that I am happy to share with you. We weathered the impact on Outpatient and Surgical volumes because of the pandemic impact, which eased over the second half of the year. There was a revival in patient footfalls and Non-COVID occupancy across our network, which translated into good financial performance. Our Revenue stands at Rs.105,600 mio. Healthcare Services has contributed 50% to our Topline, and Standalone Pharmacies, 44%. Overall, the EBITDA (Post Ind AS 116) stood at Rs. 11,374 mio. I am delighted to announce a dividend of Rs. 3.00 per share.

At Apollo, we have made agile modifications in the delivery of critical healthcare services to fulfill our mission of bringing quality healthcare to the common man the reason we set up our first hospital 37 years ago. This is our business purpose. In the pursuit of this purpose, we have played an important role in improving health outcomes throughout the country and in building a productive workforce.

Healthcare continues to support the health of the country and its economy. With the right support it can do for India what IT did in the 90s in creating jobs, building world-class products, delivering outstanding services, and earning foreign exchange. We have the potential to become the hospital for the world.

As we break into the new digital frontiers in healthcare delivery, I would like to thank the Board members for their trust and unfailing support in our journey. I have to thank you, the shareholders for the tremendous trust you have reposed in us. Without your support we will not be able to face unexpected challenges or venture into new realms in healthcare delivery. And last, but not least, I thank my Apollo Family members who have stood with us like rocks on our journey together. Much of what we have achieved would not have been possible without their support.

The pandemic has reinforced, now more than ever, the importance of good health.

Let me remind you to take good care of yourselves. Also, get vaccinated; it is important to stay safe and healthy.

My warm personal regards to all of you, Stay safe. Stay Healthy.

Dr. Prathap C. Reddy

Executive Chairman, Apollo Hospitals Group

   

Apollo Hospitals Enterprise Ltd Company History

Apollo Hospitals Enterprise Limited (AHEL) is a leading private sector healthcare provider in Asia. It has a robust presence across the healthcare ecosystem, including Hospitals, Pharmacies, Primary Care & Diagnostic Clinics. As on 31 March 2020, AHEL had a network of 71hospitals with total bed capacity of 10261. The total number of pharmacies as on 30 September 2020 was 3850. AHEL's hospitals are situated in Chennai, Hyderabad, Delhi, Ahmedabad, Pune, Chenganur, Coimbatore, Jaipur, Madurai, Anantpur, Nellore, Kurnool, Bhopal, Ranchi, Bilaspur and Bacheli. Apollo Hospitals Enterprise Limited was incorporated as a Public Limited Company in the year 1979, a comprehensive 250-bed hospital with an emphasis on speciality and super specialties in over fifty departments at Chennai. Dr. Prathap C Reddy promoted it. 46 beds were added in the year 1985. It is the first group of hospitals that pioneered the concept of corporate healthcare delivery in India. The Apollo Health Association (AHA) was inaugurated in April of the year 1986, based on credit card system. As per this scheme, the Apollo health insurance policyholders get Medicare offered by Apollo and 76 accredited hospitals in selected cities. The hospital was equipped with Magnetic Resonance Imaging (MRI) during the year 1989, also with SOMATOMCR whole body computed Tomography scanner, Dideoendoscopy and Mammography, breast-scanning equipment for the detection of occult carcinoma. During the same year 1989, AHEL group had finalised a joint venture project with the I.R.T.C. of Eye Micro Surgery, USSR to launch the Apollo Fyodorov Eye Research Institute. Apart from the hospital activities, The Apollo School of nursing was commissioned in August of the year1991, which offers a 3-year diploma programme followed by internship in the hospital. During the year 1992, 16 intensive care beds and 26 additional patient beds together with balancing equipment were added in various disciplines. Also a 24-hour ambulance service with wireless facility was to be launched. Apollo cancer hospital was commissioned with 150-beds for cancer treatment and research centre in Chennai during the period of 1993. Further, AHEL had introduced state-of-the-art Bone Marrow transplant facility in Phase II expansion of cancer project. A third theater was added for cardio thoracic surgery in the year of 1994. As at 19th February of the year 1995, another one wing was added, Cancer hospital in Hyderabad was inaugurated. In the same year 1995, AHEL had joined hands with the WHO with its mission to eradicate Tuberculosis in India. With takeover of Orient Hospital, Madurai and Pinakini Hospital, Nellore, the Company had added 300 more beds in the year 1996 and the Apollo College of Nursing at Keezhkattalai was inaugurated on 21st October of the same year. AHEL had signed a memorandum of understanding with Jardine of UK for successful adaptation of the health maintenance organisations (HMO) in the year 1997, a concept for the first time in India. A year after, in 1998, also signed a memorandum of understanding with the Sri Lankan Government to build a super-speciality hospital in Colombo. It was the first time the speciality hospital group ventured abroad with investments. AHEL had opened a unit for the Kidney disorders; it was inaugurated in April of the year 1998 with the expansion in this facility for better and newer techniques in treatment. In 1999, Apollo had launched its first poison information centre in the south of the India. Indian Oil Corporation Ltd (IOCL) and AHEL had signed a memorandum of understanding (MoU) in the year 2000 for setting up pharmaceutical general stores at the convenience stores of Indian Oil petrol stations. Apollo and Royal College of General Practioners made a tie-up in the period of 2000 to launch three programmes for revalidating and updating the knowledge of primary healthcare physicians in India. The company also inked an in-principle deal with the Singapore-based Parkway group, the global leader in healthcare business, to spread its wings to Afro Asian countries. In the same year AHEL had launched a personal accident insurance card and commissioned the Italian Dental Clinic. The amalgamation of Indian Hospitals Corporation (IHCL), Om Sindoori Hotels (OSHL) with the company has been approved; also Deccan Hospital Corporation (DHCL) has been amalgamated with company. In 2001, the company signed a memorandum of understanding with the government of Mauritius, appointing the Apollo Hospitals Group as the preferred healthcare provider for all the citizens of Mauritius and in the identical year, made a tie-up with a local hospital initially to deliver mother and child care. During the year 2002, the hospital has taken over the 50.26 per cent of stake held by the Gauri Prasad Goenka in the Duncan Gleneagles Hospital for the consideration of Rs 3 crore. In 2003, AHEL made tie up with ICICI Lombard and unveiled an accident insurance product. Apollo launched a dedicated pediatric cardiac facility for children and sets up a 24X7 Chest Pain Clinic to offer round the clock and immediate access to quality heart care during the critical period. AHEL had entered into a major technology partnership with the Defence Research & Development Organisation (DRDO) to leverage mutual strengths during the period of 2004. Launched the Apollo National Heart Plan' comprising three components of the preventive mode, a disease management programme (DMP) and the actual treatment and surgery component. And also in the same year, it made a partnership to provide advisory services to Hayel Saeed Anam (HSA) group, Yemen. Apollo Hospital Delhi gets JCI certification for its quality of care in a safe environment in the year 2005. In the same year, it forged alliance with Histotem and joined hands with Johns Hopkins. AHEL singed the Joint Venture Agreement with Deutsche Krankenversicherung AG (DKV) for setting up the Health Insurance Business in October 11 of the year 2006. AHEL had signed an agreement with Cadila Pharmaceuticals Limited as a partner in Apollo Hospitals International Limited, Ahmedabad. Also in the year the hospital had acquired the Zavata. The week magazine rated the Apollo Hospitals as the Best Private Sector Hospital in India for the year 2006. As at June 15th 2007, AHEL launched Health City, the first of its kind in Asia, at Hyderabad, an integrated healthcare delivery facility, spread over 33 acres, to cover disease prevention, management, wellness and research. As at January 2008, the hospital has signed an agreement with Hindustan Construction Co (HCC), a real estate firm, to set up the medicity inside the upcoming hill station named Lavasa in Maharashtra. With an eye on foreign patients, Apollo Hospitals is setting up a medicity near Pune that will offer 'first rate ayurveda treatment'. The Apollo and BAI Medical Centre Ltd, a subsidiary of British American Investment Co (Mtius) Ltd Made a JV in February of the year 2008 to set up a hospital in Mauritius. Apollo Hospitals Enterprise Ltd (AHEL) and Quintiles Mauritius Holdings Inc., (Quintiles) entered into a Shareholders Agreement on 27 January 2009 for setting up a Phase I clinical trial research facility in Hyderabad at an estimated cost of USD 6 million, through a separate joint venture company to be formed for this purpose. Quintiles and AHEL will be funding the project cost in the ratio of 60-40 respectively through a combination of debt and/or equity. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 28 January 2010 approved the allotment of 1,500 Unsecured Foreign Currency Convertible Bonds (FCCB) of face value of USD 10,000 each aggregating to US$ 15 million with an option of convertible into equity shares at a price of Rs 605 per share to International Finance Corporation, Washington. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 28 May 2010 approved the sub-division of each existing equity share of nominal value of Rs 10 each into 2 equity shares of nominal value of Rs 5 each. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 9 December 2010 approved the allotment of 11.40 lakh equity shares to International Finance Corporation, Washington on conversion of Foreign Currency Convertible Bonds to the extent of US$ 7.50 million. These shares have been issued at a price of Rs 302.50 per share at a premium of 14% over the floor price determined as per the FCCB Scheme, 1993 (after the subdivision of each equity share of face value of Rs. 10/- per share into two equity shares of face value of Rs. 5/- each) and in accordance with the terms of the FCCB Loan Agreement dated 18 June 2009. On 18 July 2011, Apollo Hospitals Enterprise closed qualified institutional placement of equity shares. The company will issue 66.66 lakh equity shares at a price of Rs 495 per share to qualified institutional buyers for an amount aggregating Rs 330 crore. On 7 June 2012, Apollo Hospitals Enterprise announced that International Finance Corporation (IFC), Washington had sent a communication to the company requesting for conversion of the balance loan amount of USD 7.50 million of the Foreign Currency Convertible Bonds (FCCBs) into equity shares. In this regard, committee of the Board of Directors at its meeting held on 7 June 2012 approved the allotment of 13.81 lakh equity shares to International Finance Corporation, Washington. On 10 December 2012, Apollo Hospitals Enterprise announced that it has signed a definitive agreement with Sutherland Global Services, a global provider of business process and technology management services, to enable Sutherland Global Services acquire 100% of the shares of Apollo Health Street Limited (AHS), a leading provider of healthcare business services and world-class Health Information Technology (HIT) based solutions. AHS is an associate company of Apollo Hospitals Enterprise. This acquisition will position the combined organization as a leading healthcare service provider with comprehensive information technology and business process integrated solutions and consolidate its presence as a dominant player in the $38 billion US healthcare business process outsourcing (BPO). This also fosters Apollo Hospitals' strategic intent of focusing and growing its core healthcare delivery services. On 21 January 2013, Apollo Hospitals Enterprise announced its plans to establish a Proton Therapy Center in India, the first of its kind across South East Asia, Africa and Australia. This launch that marks the beginning of the next wave of advancement in radiation therapy in India is worth approximately Rs 400 crore, which covers the equipment and services supplied by IBA (Ion Beam Applications S.A.) to help establish the Apollo Proton Therapy Center including the long-term operation and maintenance contract. On 17 September 2014, Apollo Hospitals Enterprise announced that it has entered into an MoU with Hetero Med Solutions Limited (HMSL) for the acquisition of its retail pharmacy stores currently operated in Telengana, Andhra Pradesh and Tamilnadu. The acquisition would be in the form of purchase of the business undertaking, on a slump sale basis and comprises of 320 pharmacy stores, at an overall consideration not exceeding Rs 146 crore. This acquisition will further strengthen Apollo Pharmacy's leadership position in the industry. The addition of 320 stores are in existing core geographies where Apollo Pharmacy has a strong market presence and further consolidate its presence as a significant player in this region. Apollo Pharmacy plans to leverage its existing backend infrastructure to drive economies of scale, thereby accelerating profitability for these stores. This will also create an opportunity to increase the sales of Apollo private label products. Apollo Health and Lifestyle Limited (AHLL), a wholly owned subsidiary of Apollo Hospitals Enterprise, announced on 30 January 2014 that Sanofi-Synthelabo (India) Limited has invested into Apollo Sugar Clinics Limited (ASCL). ASCL is a disease management clinic focused on providing high quality, integrated care across its clinics for people with diabetes. An amount of Rs 90 crore is being invested by Sanofi-Synthelabo in this venture through a combination of primary and secondary funding. Earlier, on 30 September 2014, Apollo Hospitals Enterprise and Sanofi announced their decision to collaborate on the expansion of Apollo Sugar Clinics. On 6 January 2015, Apollo Health and Lifestyle Limited (AHLL), a wholly owned subsidiary of Apollo Hospitals Enterprise, announced that it has successfully completed the acquisition of Nova Specialty Hospitals. The deal size would be in the range of Rs 135-145 crore. Nova Specialty Hospitals' existing centres will serve as new centres under the Apollo brand name. The acquired chain of Nova Specialty Hospitals is spread over 8 cities and will add to the Apollo network 45 Modular OTs, over 350 patient beds, with an average 20,000 SFT of built-up space in each centre. These centres provide both In-patient and OPD services with 60% of the procedures currently being done as day procedures. The Board of Directors of Apollo Energy Company Ltd., an Apollo Hospitals Group Company, at its meeting held on 25 January 2016 approved the divestment of 23.3% shareholding in Apollo Munich Health Insurance Company Ltd. (Apollo Munich) to its joint venture partner, Munich Re of Germany for Rs 163.5 crore. Post consummation of the transaction, Apollo Hospitals Group's shareholding in Apollo Munich shall stand reduced from 74.4% to 51.1%. Correspondingly, Munich Re's shareholding in Apollo Munich shall increase to 48.7% and 0.2% stake will be held by employees. Apollo Hospitals shall continue to hold its stake in Apollo Munich. Apollo Munich Health Insurance is one of the largest private sector health insurance companies offering comprehensive health insurance plans for individuals, families, senior citizens and corporates. On 12 March 2016, Apollo Hospitals Enterprise announced that it has completed the acquisition of 51% majority stake in Assam Hospitals Limited, Guwahati for a cash consideration of Rs 57.25 crore which will be utilized for refurbishing the hospital including addition of new equipments as well as towards expansion of the existing hospital block. Assam Hospitals Limited which was incorporated in 1997 and commenced operations from 1999, is engaged in the business of healthcare services. It has a presence in Guwahati where it currently runs a 220 bed hospital facility. The objective of the acquisition is to strengthen Apollo Hospitals leadership position in the hospital space as well as enhance its presence in North eastern region where it already has strong brand equity. On 20 June 2016, Apollo Hospitals Enterprise and Hainan Ecological Smart City Group (HESCG), China signed a Memorandum of Understanding (MoU) to build a state-of-the art hospital in Hainan Province, China. HESCG will provide land, all investments for the construction, commissioning and equipping the hospital besides all operative expenses, while Apollo Hospitals Group would provide its services technical consulting, planning and commissioning of the hospital and post completion of the hospital, provide services for the operations and management of the hospital. Apollo Hospitals would also support in building the technical and management personnel, install it's acclaimed patient care clinical protocols and practices. The Board of Directors of Apollo Hospitals Enterprise at its meeting held on 1 September 2016 discussed and deliberated the possibility of considering and evaluating various options to restructure and reorganize the businesses of the company, by re-aligning the business lines as per verticals. The proposal for such restructuring is aimed at exploring options for improving operational efficiencies and augmenting further growth of the businesses in compliances with the applicable laws and creating greater flexibility through such restructuring and/or transfer of the existing businesses into separate legal entities, given the large opportunity that exits in the healthcare sector. On 1 December 2016, Apollo Hospitals Enterprise announced that International Finance Corporation (affiliated to the World Bank) along with associated entity, has made a primary equity infusion of Rs 450 crore thereby acquiring a 29.03% stake in Apollo Health and Lifestyle Limited (AHLL), earlier a wholly owned subsidiary of the company. The equity infusion will be utilized to finance AHLL's growth plans. AHLL is engaged in retail healthcare business encompassing primary health clinics, birthing centres, dental & dialysis centres, day surgery centres and sugar clinics. During the FY2017, the company has allotted 2000 Non Convertible Debentures of face value of Rs 1 million each to HDFC Bank Limited, 2,500 Non Convertible Debenture of face value of Rs 1 million each to Yes Bank Limited and 500 Non Convertible Debenture of face value of Rs 1 million each to Birla Sun Life Insurance Company Limited. The Company had reduced its equity stake to 40% from 100% in Apollo Healthcare Technology Solutions Limited (AHTSL) on 23rd January 2017. However AHTSL shall continue to be a subsidiary of the Company due to the definition of controlling interest between the companies as per Ind AS standards. One multi-speciality hospital at Navi, Mumbai was inaugurated during the year 2016-17. As on 31st March 2017, your Company had eighteen direct subsidiaries, four step down subsidiaries, three joint ventures, and four associate companies. During the FY2017,Apollo Hospital International Limited and Future Parking Private Limited have become the subsidiaries of the company. During the year, Apollo Hospitals, Chennai and Indraprastha Apollo Hospitals, New Delhi were awarded the top 2 positions in the All India Critical Care Hospital Survey 2017 by Times Health. As on 31st March 2019, the Company had nineteen direct subsidiaries, ten step down subsidiaries, four joint ventures and four associate companies. The Board of Directors at their meeting held on November 14, 2018 have approved a Scheme of Arrangement ('the Scheme') between Apollo Hospitals Enterprise Limited ('AHEL') and Apollo Pharmacies Limited ('APL') and their respective shareholders in accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013, for the transfer of the front-end retail pharmacy business ('the disposal group') carried out in the standalone pharmacy segment to APL by way of slump sale, subject to necessary approvals by stock exchanges, shareholders, National Company Law Tribunal and all other requisite regulatory authorities. Pursuant to the Scheme of Arrangement (the Scheme'), duly sanctioned by the National Company Law Tribunal (NCLT) vide order dated August 3, 2020, with effect from April 1, 2019 (Appointed date'), the front-end retail pharmacy included in the standalone pharmacy segmentis transferred to Apollo Pharmacies Limited ('APL'), a wholly owned subsidiary of Apollo Medicals Private Limited (AMPL) for an overall cash consideration of Rs.52,780 lakhs. In accordance with Section 230 of the Companies Act, the Company filed the NCLT order with the Ministry of Company Affairs (Registrar of Companies) on September 1, 2020. Consequentto the filing, the Scheme became effective from September 1, 2020 (effective date'). The Company holds 25.5% of the equity shares in AMPL as on the effective date. The Board of Directors at their meeting held on February 13, 2020 had approved the amalgamation of Apollo Home Healthcare (India) Limited and Western Hospitals Corporation Private Limited, wholly owned subsidiaries of the Company (hereinafter referred to as 'Transferor Companies') into Apollo Hospitals Enterprise Limited (Transferee Company) by way of a Scheme of Amalgamation between the Transferor Companies and the Transferee Company and their respective shareholders and creditors, in accordance with Sections 230 to 234 of the Companies Act, 2013. The amalgamation is subject to requisite statutory and regulatory approvals and sanction by the respective shareholders of each of the companies involved in the scheme. There will not be any change in the shareholding pattern of the Transferee Company pursuant to implementation of the Scheme of Amalgamation as the Transferor Companies are wholly owned subsidiaries of the Transferee Company. During the FY2020, Apollo Healthcare Technology Solutions Limited, a subsidiary of the Company had applied for strike off of its name to the Registrar of Companies on 19th March 2020. The Company had divested its entire equity stake in Apollo Munich Health Insurance Company Ltd (AMHIL) on 9th January 2020 and consequently. AMHIL has ceased to be an Associate Company. As on 31st March 2020, your Company had eighteen direct subsidiaries, ten step down subsidiaries, four joint ventures and three associate companies. Apollo Cancer Centre, Chennai has won Excellence in Quality Award 2020 by FICCI & Department of Health & Family Welfare, Government of Tamil Nadu in the 12th Edition of TANCARE 2020 in Chennai. The Board of Directors, in their meeting held on November 11, 2020 have approved the proposal for executing a definitive Share Purchase Agreement (SPA) for the acquisition of 50% equity stake held by Gleneagles Development PTE Limited, Singapore, in Apollo Gleneagles Hospital Limited, Kolkata ('AGHL'), a joint venture in which the Company holds a 50% equity stake, for a cash consideration of Rs 41,000 lakhs. The Board of Directors have approved the proposal to raise funds by way of issue of securities through preferential allotment and I or Qualified Institutional Placement (QIP) or any equivalent capital raising method permitted by applicable laws, subject to approval of the shareholders, up to a maximum aggregate limit of Rs. 150,000 lakhs. During the quarter ended 30 September 2020,the Board has approved the acquisition of additional 1% equity stake in Medics International Life Sciences Limited, a Joint Venture, in which it already holds a 50% equity stake, for a consideration of Rs. 398 lakhs. The company completed a QIP in January 2021,allotting an additional 4659498 equity shares at a price of Rs 2511 per share (premium of Rs 2506 per share) aggregating to a sum of Rs 116999.99 lakhs. On 07 January 2021,the company completed the acquisition of 1% additional stake in Medics International Life Sciences Limited, a Joint Venture,which runs a 330-bedded hospital in Lucknow. Consequently Medics has become the subsidiary of the company.

Apollo Hospitals Enterprise Ltd Directors Reports

Your Directors are pleased to present the FORTIETH ANNUAL REPORT and the audited financial statements for the year ended 31st March 2021

FINANCIAL RESULTS

(Rs.in million)

Standalone

Consolidated

Particulars Year ended 31st March 2021 Year ended 31st March 2020 Year ended 31st March 2021 Year ended 31st March 2020
Income from Operations 91,530 97,944 105,600 112,468
Profit before Exceptional Items and Tax after share of profits in Joint Ventures & Associates 1,857 5,179 1,609 4,586
Exceptional Items (91) 1,644 606 1,983
Profit after Exceptional Items before Tax after share of profits in Joint Ventures & Associates 1,766 6,823 2,215 6,569
Provision for Tax 716 2,121 847 2,252
Profit for the Period 1,050 4,702 1,368 4,317
Earnings Per Share (Rs.) 7.50 33.80 10.74 32.70

RESULTS OF OPERATIONS

During the year under review, the income from operations of the Company degrew by 7% to Rs.91,530 million in FY21 compared to Rs.97,944 million in the previous year. The profit after tax for the year declined by 78% to Rs.1,050 million compared to Rs.4,702 million in the previous year.

During the year under review, the consolidated gross revenue of the Company degrew by 6% to Rs.105,600 million compared to Rs.112,468 million. Net profit after minority interest for the group declined by 68% to Rs.1,368 million compared to Rs.4,317 million in the previous year.

IMPACT OF THE COVID19 PANDEMIC ON THE BUSINESS

Due to the continuing COVID-19 pandemic situation, there were localised lockdowns in various parts of the country apart from continuing restrictions on international and domestic travel . This was coupled with advisories issued by the government on postponing elective surgeries and undergoing preventive health checks .

The Pharmacy Distribution and Stand Alone Pharmacy segmental revenues and business performance were not impacted during the lockdown, and continued to show growth momentum.

However, the continuance of the pandemic situation resulted in a material impact on the healthcare sector in general and the Company's healthcare services business operations, due to the following reasons:

• Severe travel related restrictions impacting both employee movements and patient flows to our hospitals .

• Out Patient footfalls being impacted apart from incidence of postponement of elective procedures. Both factors in turn have led to a substantial reduction in the inpatient case loads .

• Continued investments being required to be made on investments in equipment, consumables and other resources to ensure 100% preparedness for safety in the hospital(s) and eventual treatment of patients in case of a need.

• Current embargo on international travel has also impacted patient flows to hospital units located in metro centres as well.

However, patient case loads and occupancies across the hospitals network witnessed improvements post easing of lockdown related restrictions. We will continue to calibrate our responses to the COVID-19 situation as it evolves.

Apollo Hospitals, being the largest private health care services provider in the country is well positioned to continue to address the demand for tertiary health care services across the country over the long term.

CONSOLIDATED FINANCIAL STATEMENTS

In accordance with Companies Act, 2013 ("the Act") and Ind AS 110 - Consolidated Financial Statements read with Ind AS 28 - Investment in Associates and Ind AS 31 - Interests in Joint Ventures, the audited consolidated financial statements form part of the Annual Report.

In terms of provision to sub section (3) of Section 129 of the Act, the salient features of the financial statements of the Subsidiaries, Associates and Joint Venture Companies are set out in the prescribed Form AOC-1, which forms a part of the Annual Report.

In accordance with Section 136 of the Act, the audited financial statements, including the consolidated financial statements of the Company and audited accounts of the subsidiaries are available at the Company's website: www.apollohospitals.com. The documents will also be available for inspection during business hours at the registered office of the Company.

MATERIAL CHANGES AFFECTING THE COMPANY

There have been no material changes and commitments affecting the financial position of the Company between the end of the financial year and the date of this Report. There has been no change in the nature of business of the Company.

SCHEME OF ARRANGEMENT

The Board of Directors at their meeting held on November 14, 2018 had approved a Scheme of Arrangement ("the Scheme") between Apollo Hospitals Enterprise Limited ("AHEL") and Apollo Pharmacies Limited ("APL") and their respective shareholders in accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013, for the transfer of the front-end retail pharmacy business ("the divestment business") carried out in the standalone pharmacy segment to APL by way of slump sale for an overall cash consideration of Rs.5,278 million, subject to necessary approvals by stock exchanges, shareholders, the National Company Law Tribunal and all other requisite regulatory authorities.

The Company received no objection letters from National Stock Exchange of India Limited and BSE Limited. Further, the Company obtained approvals from the Competition Commission of India (CCI) and from the equity shareholders in October 2019.

The National Company Law Tribunal (NCLT), Chennai Bench vide its order dated 3rd August 2020 approved the Scheme. The Scheme was effective from 1st September 2020.

Post the disposal of the divestment business, the Company identified Pharmacy Distribution as a new segment with effect from September 1, 2020. The Company thereafter has identified Healthcare and Pharmacy Distribution as its operating and reportable segments. Healthcare segment represents hospitals and hospital based pharmacies. Pharmacy distribution segment represents the business of procurement and distribution of pharmaceutical items, fast moving consumer goods (FMCG) and private label products.

SCHEME OF AMALGAMATION

The Board of Directors at their meeting held on 13th February 2020 had approved the amalgamation of Apollo Home Healthcare (India) Limited and Western Hospitals Corporation Private Limited, wholly owned subsidiaries of the Company (hereinafter referred to as "Transferor Companies") into Apollo Hospitals Enterprise Limited ("Transferee Company") by way of a Scheme of Amalgamation between the Transferor Companies and the Transferee Company and their respective shareholders and creditors, in accordance with the provisions of Sections 230 to 234 of the Companies Act, 2013.

The amalgamation was subject to requisite statutory and regulatory approvals and sanction by the respective shareholders of each of the Companies involved in the scheme.

The Amalgamation of the Transferor Companies with the Transferee Company is aimed at achieving the following primary benefits:

• Facilitate consolidation of the undertakings in order to enable effective management and unified control of operations;

• Create economies in administrative and managerial costs by consolidating operations;

• Reduce duplication of administrative responsibilities and multiplicity of records and legal and regulatory compliances.

The Board of Directors through a circular resolution, approved the revised proposal in compliance with Section 233 of the Companies Act, 2013 to proceed with an application to the Regional Director, Southern Region, Ministry of Corporate Affairs for approving the Scheme of Amalgamation subject to completion of necessary formalities and obtaining requisite approvals instead of filing applications with NCLT seeking dispensation from the requirement of convening shareholders / creditors meetings of the Company:

• Apollo Home Healthcare (India) Limited and

• Western Hospitals Corporation Private Limited

The Company obtained shareholders and creditors approval with the requisite majority for the proposed Scheme of Amalgamation of the wholly owned subsidiary companies with the Company and has also obtained approval from the Regional Director, Southern Region, Ministry of Corporate Affairs vide order dated 28th June 2021 for going ahead with the Scheme of amalgamation. The Scheme would be effective from 1st April, 2020.

There will not be any change in the shareholding pattern of the Transferee Company pursuant to the Scheme of Amalgamation as the Transferor Companies are wholly-owned subsidiaries of the Transferee Company.

PROPOSEDTRANSFER OF BUSINESS UNDERTAKING

The Board had met on June 23,2021, to review the Company's long-term strategy including the intent to create a distinctive digital ecosystem for providing a holistic healthcare platform which encompasses a wide range of healthcare services including enabling e-consultations and online ordering for delivery of medicines.

Keeping this in perspective as well as the fact that the business of procurement of pharmaceutical and other wellness products including private label products and wholesaling and supply of such products to pharmacies, including investment in pharmacy retail business, and development, operation and management of the online platform for digital healthcare owned and operated by the Company under the branding of "Apollo 24/7", shall require a specific and focused approach, the Board in its meeting held on 23rd June 2021, approved the proposal for going ahead with the transfer of the business undertaking comprising of the Pharmacy Distribution business and Apollo 24x7 online digital healthcare platform on a slump sale basis to a wholly owned subsidiary company, Apollo Health Co Limited for a net consideration of Rs.12,100 million (Rupees Twelve Thousand One Hundred Million Only) which is in excess of the networth of the Business Undertaking sought to be transferred to Apollo HealthCo Limited.

This move is expected to result in the following benefits:

1. Facilitate creation of India's largest omni - channel digital healthcare delivery platform and thereby enable huge funneling potential for healthcare consumers into the Apollo ecosystem

2. Enable the process of combining the strength of the Apollo Hospitals Group's offline healthcare leadership with new age digital offerings to address all healthcare consumer needs

3. An asset light approach (through digital offerings) would be followed to fuel growth and achieve the objective of getting 100 million targeted registered users on the Apollo 24x7 digital platform in the next 5 years

4. An appropriate platform would be created for attracting a new pool of investor capital and to enable rapid fiscal up of the business,

The proposed transfer would include the Company's investment in the pharmacy retail business apart from all related assets and liabilities and is subject to receipt of regulatory approvals including shareholders and lenders approvals.

DIVIDEND

The Board of Directors have recommended a dividend of Rs.3/- per equity share (60% on face value of Rs.5/-per share) on the paid-up equity share capital of the company for the financial year ended 31st March 2021 amounting to Rs.431.35 million which if approved, at the forthcoming Annual General Meeting on 31st August 2021 will be paid to those shareholders whose names appear in the Register of Members as at the closing hours of business on 20th August 2021. In respect of shares held in electronic form, the dividend will be paid on the basis of beneficial ownership furnished by the depositories viz., NSDL and CDSL for this purpose.

The Register of Members and Share Transfer Books will remain closed from Saturday, 21st August 2021 to Tuesday 31st August 2021 (both days inclusive).

In view of the changes made under the Income-tax Act, 1961, by the Finance Act, 2020, dividends paid or distributed by the Company shall be taxable in the hands of the Shareholders. Your Company shall, accordingly, make the payment of the Dividend after deduction of tax at source.

The Board approved and adopted a dividend distribution policy at its meeting held on 30th May 2017 which is annexed herewith as Annexure – I to this report and also posted on the Company's website: www.apollohospitals.com.

SUBSIDIARIES, ASSOCIATE COMPANIES AND JOINT VENTURES

At the beginning of the year, your Company had eighteen direct subsidiaries, ten step down subsidiaries, four joint ventures and three associate companies. As on 31st March 2021, your Company had eighteen direct subsidiaries, ten step down subsidiaries, three joint ventures and four associate companies.

The statement containing the summarized financial position of the subsidiary companies viz., Apollo Home Healthcare (I) Ltd (AHHCIL), A.B. Medical Centres Limited (ABMCL), Samudra Healthcare Enterprises Limited (SHEL), Apollo Hospital (UK) Limited (AHUKL), Apollo Hospitals Singapore Pte Limited (AHSPL), Apollo Health and Lifestyle Limited (AHLL), Western Hospitals Corporation Pvt Limited (WHCPL), Total Health (TH), Imperial Hospital and Research Centre Limited (IHRCL), Apollo Home Healthcare Limited (AHHL), Apollo Nellore Hospital Limited (ANHL), Sapien BioSciences Pvt Limited (SBPL), Apollo Rajshree Hospitals Pvt Limited (ARHPL), Apollo Lavasa Health Corporation Limited (ALHCL), Assam Hospitals Limited (AHL), Apollo Hospitals International Limited (AHIL), Future Parking Pvt Limited (FPPL), Medics International Lifesciences Limited (MEDICS), Apollo Sugar Clinics Limited (ASCL), Apollo Specialty Hospitals Pvt Limited (ASHPL), Alliance Dental Care Limited (ADCL), Apollo Dialysis Pvt Limited (ADPL), Apollo CVHF Limited (CVHF), Apollo Bangalore Cradle Limited (ABCL), Kshema Healthcare Pvt Limited (KHPL), AHLL Diagnostics Limited (ADL), AHLL Risk Management Pvt Limited (ARMPL) and Surya Fertility Centre Private Limited (SFC) pursuant to Section 129 read with Rules 5 of the Companies (Accounts) Rules, 2014 is contained in Form AOC-1, which forms a part of the Annual Report.

1. APOLLO HOME HEALTHCARE INDIA LIMITED AHHCIL

AHHCIL, a wholly owned subsidiary of the Company recorded an income of Rs.6.23 million and a net profit of Rs.1.84 million.

2. A.B. MEDICAL CENTRES LIMITED ABMCL

ABMCL, is a wholly owned subsidiary of the Company and does not have any commercial operations as it has leased out its infrastructure viz., land and building to the company for running a hospital. For the year ended 31st March, 2021, ABMCL recorded an income of Rs.8.04 million and a net profit of Rs.6.38 million.

3. SAMUDRA HEALTHCARE ENTERPRISES LIMITED SHEL

SHEL, a wholly owned subsidiary of the company, runs a 120 bed multi speciality hospital at Kakinada. For the year ended 31st March, 2021, SHEL recorded an income of Rs.509.45 million and a net profit of Rs. 115.14 million.

4. APOLLO HEALTH AND LIFESTYLE LIMITED AHLL

AHLL, is a 68.25% subsidiary of the Company engaged in the business of providing primary healthcare facilities through a network of owned/franchised clinics across India offering specialist consultations, diagnostics, preventive health checks, telemedicine facilities and 24-hour pharmacy all under one roof. For the year ended 31st March, 2021, AHLL recorded an consolidated income of Rs.7,062.80 million and a net loss of Rs.663.90 million.

5. WESTERN HOSPITALS CORPORATION PRIVATE LIMITED WHCPL

WHCPL, a wholly owned subsidiary of the Company, recorded a net loss of Rs.10 million for the year ended 31st March 2021.

6. TOTAL HEALTH TH

TH, is a wholly owned subsidiary of the Company registered under Section 8 of the Companies Act, 2013, which is engaged in carrying on CSR activities in the field of community/rural development.

7. APOLLO HOSPITAL UK LIMITED AHUKL

AHUKL, is a wholly owned foreign subsidiary of the Company and has not yet commenced its operations.

8. APOLLO HOSPITALS SINGAPORE PTE LIMITED AHSPL

AHSPL, is a wholly owned subsidiary of the Company which has invested in a venture capital fund which focuses on funding early stage healthcare technology startups in Asia.

9. IMPERIAL HOSPITAL AND RESEARCH CENTRE LIMITED

IHRCL

IHRCL, is a 90% subsidiary of the company which owns a 250 beds multi-specialty hospital at Bengaluru. For the year ended 31st March, 2021, IHRCL recorded an income of Rs.2,319.75 million and a net profit of Rs.83.19 million.

10. APOLLO HOME HEALTHCARE LIMITED AHHL

AHHL, a 89.42% subsidiary of the Company is engaged in the business of providing high quality, personalized and professional healthcare services at the doorsteps of the patients. AHHL recorded an income of Rs.552.80 million and a net profit of Rs.16.93 million.

11. APOLLO NELLORE HOSPITAL LIMITED ANHL

ANHL a 80.87% subsidiary of the Company has leased out its land at Nellore to the Company. ANHL recorded an income of Rs. 8 .17million and a net profit of Rs.6.44 million.

12. SAPIEN BIOSCIENCES PRIVATE LIMITED SBPL

SBPL, is a 70% subsidiary of the company which is engaged in the business of bio-banking of tissues. For the year ended 31st March, 2021, SBPL recorded an income of Rs.31.43 million and a net profit of Rs.11.18 million.

13. APOLLO RAJSHREE HOSPITALS PRIVATE LIMITED ARHPL

ARHPL, a 54.63% subsidiary of the company, runs a multi speciality hospital at Indore. For the year ended 31st March, 2021, ARHPL recorded an income of Rs.863.57 million and a net profit of Rs.83.41 million.

14. APOLLO LAVASA HEALTH CORPORATION LIMITED ALHCL

ALHCL, a 51% subsidiary of the company, runs a hospital at Lavasa. For the year ended 31st March, 2021, ALHCL recorded a net loss of Rs.19.59 million.

15. ASSAM HOSPITALS LIMITED AHL

AHL, a 65.85% subsidiary of the company, runs a multi speciality hospital at Guwahati. For the year ended 31st March, 2021, AHL recorded an income of Rs.1,352.15 million and a net profit of Rs.80.77 million.

16. APOLLO HOSPITALS INTERNATIONAL LIMITED AHIL

AHIL, a 50% subsidiary of the company, runs a multi speciality hospital at Ahmedabad. For the year ended 31st March, 2021, AHIL recorded an consolidated income of Rs.1,719.13 million and a net profit of Rs.29.06 million

17. FUTURE PARKING PRIVATE LIMITED FPPL

FPPL, a subsidiary of the company, has been promoted for the development of a Multi level Car parking facility at Wallace Garden, Nungambakkam, Chennai. FPPL recorded an income of Rs. 45.60 million and a net loss of Rs.20.04 million

18. MEDICS INTERNATIONAL LIFESCIENCES LIMITED MEDICS

MEDICS, is a 51% subsidiary of the company which owns a 330 beds multi-specialty hospital at Lucknow. For the year ended 31st March, 2021, Medics recorded an income of Rs. 1,928.15 million and a net profit of Rs. 97.41 million

19. APOLLO SPECIALITY HOSPITALS PRIVATE LIMITED ASHPL

ASHPL, a subsidiary of Apollo Health and Lifestyle Limited, is engaged in the business of running day surgery centres. For the year ended 31st March, 2021, ASHPL recorded an income of Rs.3,301.30 million and a net loss of Rs.441.70 million.

20. APOLLO SUGAR CLINICS LIMITED ASCL

ASCL, a subsidiary of Apollo Health and Lifestyle Limited, is engaged in the business of running diabetes management centres. For the year ended 31st March, 2021, ASCL recorded an income of Rs.187.82 million and a net profit of Rs.2.82 million.

21. ALLIANCE DENTAL CARE LIMITED ADCL

ADCL, a subsidiary of Apollo Health and Lifestyle Limited is engaged in the business of running dental care centres and recorded an income of Rs.173.56 million and a net loss of Rs.48.56 million for the year ended 31st March 2021.

22. APOLLO DIALYSIS PRIVATE LIMITED ADPL

ADPL, a subsidiary of Apollo Health and Lifestyle Limited is engaged in the business of running dialysis centers. For the year ended 31st March 2021, ADPL recorded a revenue of Rs.414.82 million and a net loss of Rs. 4.35 million.

23. AHLLD IAGNOSTICS LIMITED ADL

ADL, a subsidiary of Apollo Health and Lifestyle Limited is yet to commence its operations.

24. AHLLR ISK MANAGEMENT PRIVATE LIMITED ARML

ARML, a subsidiary of Apollo Health and Lifestyle Limited had recorded an income of Rs.0.53 million and a net loss of Rs. 5.17 million.

25. APOLLO CVHFL IMITED CVHF

CVHF, a subsidiary of Apollo Hospitals International Limited is in the business of providing healthcare services. For the year ended 31st March, 2021, CVHF recorded an income of Rs.185.90 million and a net loss of Rs. 72.10 million.

26. APOLLO BANGALORE CRADLE LIMITED ABCL

ABCL, a subsidiary of Apollo Speciality Hospitals Private Limited, is engaged in the business of running cradle centres. For the year ended 31st March, 2021, ABCL recorded an income of Rs.447.26 million and a net profit of Rs.57.83 million

27. KSHEMA HEALTHCARE PRIVATE LIMITED KHPL

KHPL, a subsidiary of Apollo Speciality Hospitals Private Limited is yet to commence its operations

28. SURYA FERTILITY CENTRE PRIVATE LIMITED SFC

SURYA, a subsidiary of Apollo Speciality Hospitals Private Limited is engaged in the business of running cradle and fertility centres. For the year ended 31st March, 2021, SFC recorded an income of Rs.28.70 million and a net profit of Rs.1.16 million

INVESTMENTS

Medics International Lifesciences Limited

During the year, the Company completed the acquisition of a 1% additional stake in Medics International Lifesciences Limited ("Medics") which runs 330 bed multispeciality hospital in Lucknow. Consequently, Medics became a subsidiary of the Company with effect from the date of acquisition which was 7th January 2021.

Apollo Multi Speciality Hospitals Limited - AMSHL (Formerly known as Apollo Glenea-gles Hospital Limited)

The Board of Directors, in their meeting held on November 11, 2020 approved the proposal to acquire the 50% equity stake held by Gleneagles Development Pte Ltd., Singapore in AMSHL Kolkata, in which the Company held a 50% equity stake at a consideration of Rs. 4,100 million.

The acquisition of 50% equity stake held in AMSHL, Kolkata by Gleneagles Development Pte Limited was completed on 22nd April 2021, with AMSHL becoming a 100% subsidiary of the Company.

The name of the Company was changed from Apollo Gleneagles Hospital Limited to Apollo Multi Speciality Hospitals Limited, subsequently based on approval obtained from the Ministry of Corporate Affairs with effect from 5th May 2021.

Apollo Medicals Private Limited

The Scheme of Arrangement (" the Scheme") relating to the transfer of the front end portion of the retail pharmacy business ("divestment business") to Apollo Pharmacies Limited ("APL" or "Transferee Company") a wholly owned subsidiary of Apollo Medicals Private Limited ("AMPL") for an overall cash consideration of Rs.5,278 million was approved by the National Company Law Tribunal vide their order dated August 3, 2020.

Pursuant to the Scheme becoming effective from 1st September, 2020, the Company invested a sum of Rs.365 million towards its share of equity contribution and its ownership interest in AMPL reduced to 25.50% .

Apollo Health Co Limited

The Company has acquired the entire equity stake held by the existing shareholders in Apollo Health Co Limited (AHL) on 233rd June 2021. Consequent to that, AHL became a wholly owned subsidiary to the Company.

QUALIFIED INSTITUTIONAL PLACEMENT QIP

During the year, your Company successfully completed a Qualified Institutional Placement (QIP) raising Rs.11,699.99 million from Qualified

Institutional Buyers by issue of 4,659,498 equity shares of Rs.5/- each at an issue price of Rs.2,511/- per equity share including premium of Rs.2,506/- per share. The monies raised have been utilised in line with the objects to the issue mentioned in the Placement Document.

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. The report on corporate governance as required under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter Listing Regulations), forms an integral part of this report. The requisite certificate from M/s Lakshmmi Subramanian & Associates, Practising Company Secretaries confirming the compliance with the conditions of corporate governance is attached to the report on Corporate Governance.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34 of the Listing Regulations is presented in a separate section forming part of the Annual Report.

BUSINESS RESPONSIBILITY REPORT

As stipulated under the Listing Regulations, the Business Responsibility Report describing the initiatives taken by the Company from an environmental, social and governance perspective is attached as part of the Annual Report.

SEXUAL HARASSMENT

The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at the workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules framed thereunder. The Company has an Internal Complaints Committee for providing a redressal mechanism pertaining to sexual harassment of women employees at the work place. During the year, 2 complaints were received under the policy, both of which were disposed off.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has established a vigil mechanism for Directors and Employees to report their genuine concerns, the details of which are given in the Corporate Governance Report. The policy on Vigil Mechanism and Whistle Blower Policy has been posted on the website of the Company www.apollohospitals.com.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

The details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements.

FIXED DEPOSITS

During the year, your company did not accept any deposits or renew existing deposits from the public. The total outstanding deposits with the Company as on 31st March 2021 were Rs.1.28 million (Rs.1.90 million as on 31st March 2020) which were not claimed by the depositors.

DIRECTORS AND OTHER KEY MANAGERIAL PERSONNEL KMPS

Board Composition and Independent Directors

The Board consists of the Executive Chairman, four Executive Directors and five Independent Directors as on 31st March 2021. Independent directors are appointed for a term of five years and are not liable to retire by rotation.

All Independent Directors have given their declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Regulation 16 (b) of the SEBI Listing Regulations.

Retirement by Rotation

Pursuant to Section 152 of the Companies Act 2013, Smt. Preetha Reddy, Director retires by rotation at the ensuing Annual General Meeting and being eligible offers herself for re-appointment.

Change in Board Composition Outgoing Director

Dr. T. Rajgopal had accepted the position of Chief Operating Officer in Breach Candy Hospital, Mumbai. As a good corporate governance practice, he had tendered his resignation from the position of Independent Director of the Company with effect from 1st April 2021 to avoid a potential conflict of interest situation in the Company.

Dr. T. Rajgopal has also confirmed that there are no material reasons for his resignation other than that specified herein above.

The Board places on record its sincere appreciation for the valuable services rendered by Dr. T. Rajgopal during his tenure.

New Director

Based on the recommendation of the Nomination and Remuneration Committee, the Board has recommended to the members that Shri. Som Mittal be appointed as an Independent Director for a term of 5 (five) consecutive years, with effect from 21st July 2021.

The Company has received declarations from Shri Som Mittal confirming that he meets the criteria of independence prescribed under the Act and the Listing Regulations.

Key Managerial Personnel

Pursuant to the provisions of Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the Company are Smt. Suneeta Reddy, Managing Director, Shri. Krishnan Akhileswaran, Chief Financial Officer and Shri.S.M. Krishnan, Vice President-Finance & Company Secretary. There has been no change in the Key Managerial Personnel during the year.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and in terms of Regulation 17(10) of the SEBI Listing Regulations, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of the Committees. The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report.

REMUNERATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee, approved a policy for selection and appointment of Directors, Senior Management and their remuneration. The Remuneration Policy is stated in the Corporate Governance Report.

MEETINGS OF THE BOARD

The Board met seven times during the financial year, 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.

RISK MANAGEMENT

The Board of Directors had constituted a Risk Management Committee to identify elements of risk in different areas of operations and to develop a policy for actions associated to mitigate the risks. The Committee on a timely basis informed the members of the Board of Directors about risk assessment and minimization procedures and in the opinion of the Committee there was no risk that may threaten the existence of the Company. The details of the Risk Management Committee are included in the Corporate Governance Report.

INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, fiscal and complexity of its operations

The scope and authority of the Internal Audit (IA) function is defined in the Internal Audit Charter. To maintain its objectivity and independence, the Internal Audit function reports to the Chairman of the Audit Committee of the Board. The details of the internal control system and its terms of reference are set out in the Management Discussion and Analysis Report forming part of the Board's Report.

The Board of Directors has laid down internal financial controls to be followed by the Company and the policies and procedures to be adopted by the Company for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information. The Audit Committee evaluates the internal financial control systems periodically.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant material orders passed by the Regulators / Courts which would impact the going concern status of the Company and its future operations.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act 2013, the Board of Directors to the best of their knowledge hereby state and confirm:

a. that in the preparation of the annual financial statements for the year ended March 31, 2021, the applicable accounting standards have been followed along with proper explanations relating to material departures, if any;

b. that such accounting policies have been selected and applied consistently and judgement and estimates have been made 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, 2021 and of the profit of the Company for the year ended on that date;

c. that proper and sufficient care has been taken 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;

d. that the annual financial statements have been prepared on a going concern basis;

e. that proper internal financial controls were in place and that the financial controls were adequate and were operating effectively;

f. that systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

SHARE CAPITAL

The paid up Equity Share Capital as on March 31, 2021 was Rs.718.93 million.

During the year, the Company allotted 4,659,498 equity shares of Rs.5/- each to Qualified Institutional Buyers (QIBs) on 23rd January 2021 under Qualified Institutions Placement Scheme (QIP) at a price of Rs. 2,511/- per share including a premium of Rs.2,506/- per share.

Consequent to the allotment of above said shares, the equity paid up capital has been increased from Rs.695.63 million divided into 139,125,159 equity shares of Rs. 5/- each to Rs. 718.93 million divided into 143,784,657 equity shares of Rs.5/- each.

These shares have been listed at BSE Limited (BSE) and National Stock Exchange of India Limited, (NSE), Mumbai.

The Company has not issued shares with differential voting rights nor granted stock options nor sweat equity. As of March 31, 2021, the details of shareholding in the Company held by the Directors are set out in the Corporate Governance Report forming part of the Board's Report and none of the directors hold convertible instruments of the Company.

TERMINATION OF GLOBAL DEPOSITORY RECEIPTS "GDRS" PROGRAM AND DELISTING OF GDRS FROM THE LUXEMBOURG STOCK EXCHANGE "LSE"

In view of the minimal number of GDRs outstanding and the low trading volume related to the GDRs, the Board of Directors of the Company at its meeting held on 12th February 2021 had resolved to terminate the GDR program. The notice of termination of the GDR program was sent to all GDR holders on 25th February 2021 by Bank of New York Mellon, Custodian of GDR informing that the GDR facility was terminated with effect from 26th March 2021. The holders can surrender their GDRs to Bank of New York Mellon, for delivery of underlying equity shares upto the period of March 31, 2022, subsequent to which Bank of New York Mellon, Custodian may attempt to sell the underlying shares and distribute the net proceeds to the respective GDR Holders. Subsequent to termination of the GDRs programme, the Luxemburg Stock Exchange will delist the GDRs.

As on March 31, 2021, the total outstanding GDRs was 126,646 representing 0.09% of the paid up share capital of the Company.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES

All contracts/arrangements/transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arm's length basis. During the year, the Company had not entered into any contract/arrangement/ transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions other than the transaction stated in AOC-2 in terms of Section 134(3)(h) read with Section 188 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014, which is annexed herewith as Annexure-II.

The Policy on materiality of related party transactions and dealing with related party transactions as approved by the Board may be accessed on the Company's website www.apollohospitals.com. Your Directors draw the attention of the members to the Notes to the financial statements which sets out related party disclosures.

None of the Directors have any pecuniary relationships or transactions vis--vis the Company.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules are provided in the Annual Report, which forms part of this Report.

Disclosures relating to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are also provided in the Annual Report, which forms part of this Report.

Having regard to the provisions of Section 136(1) read with the relevant provisions of the Companies Act, 2013, the Annual Report excluding the aforesaid information is being sent to the members of the Company. The said information is available for inspection at the Registered Office of the Company during working hours. Any member interested in obtaining such information may write to the Company Secretary and the same will be furnished free of cost.

EMPLOYEE STOCK OPTIONS

No Employee Stock Options have been granted to the employees of the Company and thus no disclosure is required.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

As part of its initiatives under Corporate Social Responsibility (CSR), the Company has undertaken projects in the areas of Rural Development, Healthcare, Education & Skill Development and Research in Healthcare.

These projects are in accordance with Schedule VII of the Companies Act, 2013. The Report on CSR activities for the financial year 2020-2021 is annexed herewith as "Annexure A".

STATUTORY AUDITORS

The Members at the Annual General Meeting held on 20th September 2017 approved the appointment of Deloitte Haskins & Sells LLP, Chartered Accountants as statutory auditors for a period of five years commencing from the Thirty Sixth Annual General Meeting till the conclusion of the Forty First Annual General Meeting subject to ratification by the Members every year. Pursuant to amendments in Section 139 of the Companies Act, 2013, the requirements to place the matter relating to such appointment for ratification by members at every annual general meeting has been dispensed with effect from 7th May, 2018 and the appointment of Deloitte Haskins & Sells LLP, Chartered Accountants as statutory auditors is valid till the conclusion of the Forty First Annual General Meeting to be held during the year 2022.

There are no qualifications, reservation or adverse remarks made by the statutory auditors in the audit report.

COST AUDITORS

Pursuant to Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the Directors on the recommendation of the Audit Committee, appointed M/s. A.N. Raman & Associates, Cost Accountants, Chennai (FRN 102111) to audit the cost accounts of the Company for the financial year 2021-2022 on a remuneration of Rs.1.50 million

As required under the Companies Act, 2013, the remuneration payable to the cost auditor is required to be placed before the Members in a general meeting for their ratification. Accordingly, a resolution seeking Member's ratification for the remuneration payable to M/s. A.N. Raman & Associates, Cost Accountants, Chennai (FRN102111) is included at Item No. 6 of the Notice convening the Annual General Meeting.

The Company has maintained cost records in accordance with the provisions of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014 in respect of healthcare services.

SECRETARIAL AUDITORS

The Board had appointed Smt. Lakshmmi Subramanian, Senior Partner, M/s. Lakshmmi Subramanian & Associates, a firm of Company Secretaries in Practice, to conduct Secretarial Audit for the financial year 2020-2021. The Secretarial Audit Report for the financial year ended March 31, 2021 is annexed herewith as "Annexure B". The Secretarial Audit Report does not contain any qualification, reservation or adverse remark.

STATUTORY AUDITORS AND SECRETARIAL AUDITORS REPORT

The Directors hereby confirm that there is no qualification, reservation or adverse remark made by the statutory auditors of the company or in the secretarial audit report by the practicing company secretary for the year ended 31st March, 2021.

PARTICULARS REGARDING CONSERVATION OF ENERGY, TECH NOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO.

Information as required to be disclosed on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014, is annexed herewith as "Annexure C".

EXTRACT OF ANNUAL RETURN

A copy of the Extracts of the Annual Return of the Company as required under section 134(3)(a) of the Companies Act, 2013, in Form MGT-9, as they stood on the close of the financial year i.e. 31st March, 2021 is furnished in ANNEXURE-D and forms part of this Report.

Further, a copy of the Annual Return of the Company containing the particulars prescribed u/s 92 of the Companies Act, 2013, in Form MGT-7, as they stood on the close of the financial year i.e. 31st March, 2020 is uploaded on the website of the Company in the Investor Relations Section and can be accessed from the Company's website www.apollohospitals.com

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation of the contribution made by the employees at all levels, towards the continued growth and prosperity of your Company.

Your Directors also wish to place on record their appreciation of business constituents, banks and other financial institutions and shareholders of the Company for their continued support.

For and on behalf of the Board of Directors
Place : Chennai Dr. Prathap C Reddy
Date : July 21, 2021 Executive Chairman

   

Apollo Hospitals Enterprise Ltd Company Background

Shobana KamineniSuneeta Reddy
Incorporation Year1979
Registered OfficeNo 19 Bishop Garden,Raja Annamalaipuram
Chennai,Tamil Nadu-600028
Telephone91-44-28290956/28293896,Managing Director
Fax91-44-28290956
Company SecretaryS M Krishnan
AuditorDeloitte Haskins & Sells LLP
Face Value5
Market Lot1
ListingBSE,Luxembourg,MSEI ,NASDAQ,NSE,
RegistrarIntegrated Registry Mgt Servic
Kences Tower ,2nd Floor No 1 ,Ramakrishna Street ,Chennai - 600 017

Apollo Hospitals Enterprise Ltd Company Management

Director NameDirector DesignationYear
Prathap C Reddy Executive Chairman 2021
Preetha Reddy Executive Vice Chairperson 2021
Suneeta Reddy Managing Director 2021
Sangita Reddy Joint Managing Director 2021
Shobana Kamineni Executive Vice Chairperson 2021
S M Krishnan Company Secretary 2021
Vinayak Chatterjee Independent Director 2021
Murali Doraiswamy Independent Director 2021
V Kavitha Dutt Independent Director 2021
M B N Rao Independent Director 2021
Som Mittal Independent Director 2021

Apollo Hospitals Enterprise Ltd Listing Information

Listing Information
BSE_500
BSE_HC
BSE_100
BSE_200
BSEDOLLEX
NIFTYJR
CNX500
BSEMID
CNX100
CNXINFRAST
CNXSERVICE
CNXCONSUMP
CNX200
NFTALPHA50
BSECARBONE
NI15
BSEALLCAP
BSEMIDSELE
LMI250
BSEMOI
BSE100LTMC
NFTYLM250
NFTYMC150
NFTYHEALTH
NF500M5025

Apollo Hospitals Enterprise Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Health care Services Rs.0004900.2
Revenue from Sale at PharmacieRs.0004820.6
Project Consultancy Income Rs.00066.1
Clinical Trial Services Rs.0005.7
Franchise Fees Rs.0001.9
Other Operating Income NA 0000

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