RESULTS OF OPERATIONS

During the year under review, the income from operations
of the Company grew by 9% to ' 1,356.36 Crores against
' 1,244.70 Crores in the previous year.

The profit before tax increased by 30% to ' 216.32 Crores
as compared to ' 166.11 Crores in the previous year. The
profit after tax also increased by 30% to ' 160.99 Crores as
compared to ' 123.96 Crores in the previous year.

MATERIAL CHANGES AND COMMITMENTS
AFFECTING THE COMPANY

No material changes and commitment affecting the financial
position of the Company, has occurred between the financial
year ended on March 31,2025, and the date of the report.
There has been no change in the nature of business of the
Company.

DIVIDEND

The Board of Directors have recommended a dividend of
' 4.50 per equity share (45% on face value of ' 10 per
share) on the paid-up equity share capital of the Company
for the financial year ended March 31, 2025, amounting
to ' 41.25 Crores, which if approved, at the forthcoming
Annual General Meeting on September 24, 2025, will be
paid on or after September 28, 2025, to the Members
whose names appear in the Register of Members, as on
September 18, 2025, being the record date fixed for this
purpose. 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 dividend recommended is in accordance with the
Company's Dividend Distribution Policy.

I n 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.

DIVIDEND DISTRIBUTION POLICY

Pursuant to Regulation 43A of the Securities and Exchange
Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 [SEBI Listing Regulations],
the Board of Directors of the Company had formulated
a Dividend Distribution Policy (‘the Policy'). The Policy
is available on the Company's website at https://www.
apollohospitals.com/region/delhi/pdf/Dividend-Distribution-
Policy.pdf .

TRANSFER TO RESERVES

The Company does not propose to transfer any amount to
general reserve on declaration of dividend. The Board of
Directors have decided to retain the entire amount of profits
for FY 2024-2025 in the distributable retained earnings.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE
COMPANIES

The Company has no subsidiaries or associate companies.
Also, it does not have any joint venture operation with any
other entity.

THE STATE OF COMPANY AFFAIRS

The Hospital remained committed to providing world
class quality healthcare and services. Focus continued
on improving operational efficiencies across functions,
improving patient services and enhancing safety for patients
and staff.

During the year under review, several complex procedures
were performed by our team of clinicians, bringing respite to
many chronically ill patients and their families. The following
rare procedures were performed at the Indraprastha Apollo
Hospital:

• First robotic left lateral donor hepatectomy was
performed for a one-year-old child with biliary atresia,
with his father as the donor. Despite the complex
anatomy, the surgery went smoothly. The donor was
discharged on the sixth day, and the recipient was
discharged two and a half weeks post-transplant.

• A 16-year-old boy from Egypt with dilated
cardiomyopathy (DCMP) and end-stage heart failure
urgently needed a heart transplant but was too ill to
wait for a matching donor heart. In the year 2021, he
was implanted with a Heart Mate 3 LVAD and recovered
well. Since then, he had been on the waiting list for a
donor heart. During the year under review, matched
donor heart was found. The heart was retrieved and
he successfully underwent a Heart Transplant. His
recovery was smooth, and he was discharged after
eleven days. He continues to be on follow up with us.
This marks the 5th Heart Transplant at Indraprastha
Apollo Hospitals.

• A 31-year-old female from Kenya presented with
occasional back pain and abdominal pain. She was
diagnosed with Takayasu's arteritis thoracoabdominal
aortic aneurysm (TAAA) and anti-nuclear antibodies
(ANA) positive. She was on immunosuppressants and
anticoagulation posing a significant challenge to the
treatment. After multi-disciplinary optimisation, she
underwent open repair of the TAAA. Her postoperative
period was complex but eventually patient made a
complete recovery and discharged after 10 days.

• A 46-year-old female was diagnosed with left eye
Choroidal Melanoma after experiencing flashes of
light and photopsia for two months. Fundoscopy and
CE-MRI of the orbit confirmed a choroidal melanoma
extending near the optic nerve without completely
covering it. For the first time, we successfully performed
GRS with ZAP-X on a patient with ocular melanoma,
delivering a precise dose to the lesion under anesthetic
sedation. The procedure was well tolerated, and at
the 1.5-month follow-up, the patient's vision remains
intact, and she continues to do well.

• A 69-year-old male, presented with persistent
uncontrolled Hypertension on 4 Anti-hypertensive
drugs with Left Ventricular Failure. Patient had
significant coronary artery disease- status post PTCA
stent and Cerebrovascular Disease- Old Stroke, Status
post Carotid Artery Stenting and Vertebral Artery
stenting. He underwent Percutaneous sympathetic
Renal Denervation Therapy which successfully reduced
his Blood Pressure.

• A Computer-Assisted Reverse Shoulder Replacement
was successfully performed on a 67-year-old patient
suffering from chronic shoulder pain due to advanced
degenerative arthritis. The procedure utilised cutting-
edge 3D preoperative planning software, which
enabled precise implant positioning, enhanced surgical
accuracy, and is expected to significantly improve the
long-term function and durability of the prosthetic joint.

• A 22-year-old MBBS student, battling unexplained
transient ischemic attacks for years, faced a sudden
stroke. An extensive neurological and vascular
workup revealed -multiple pulmonary arteriovenous
malformations (PAVMs), two of which were critical,
a rare but dangerous condition allowing paradoxical
embolism. Using vascular plugs and coils, the largest
AVMs were embolised, successfully closing the
shunt and preventing further embolisation. Oxygen
saturation surged from critically low levels of 75% to
96%, cyanosis resolved, and clubbing regressed.

Apollo Hospital, Noida continued to perform well across all
operational parameters and remained one of the leading
destinations for Mother and Child Care, Minimal Invasive
Laparoscopic Surgeries, Dialysis & Daycare Chemotherapy
and Preventive Health Checks.

On a Public Interest Litigation (PIL) regarding free treatment
in the hospital, the Hon'ble Delhi High Court vide its order
dated September 22, 2009, has held that free treatment
provided by the hospital shall be inclusive of medicines &
medical consumables.

The Company has filed a Special Leave Petition (SLP) before
the Hon'ble Supreme Court of India challenging the order of
the Hon'ble Delhi High Court. The Hon'ble Supreme Court
has admitted the SLP and has passed an interim order on
November 30, 2009, pursuant to which, the Company has
been providing free treatment to the patients referred by the
Government of NCT of Delhi and has been charging only for

medicines & medical consumables. The financial impact in
the matter can be quantified only after the final decision by
the Hon'ble Supreme Court of India.

The Directorate of Health Services, Government of NCT
of Delhi, has appointed a Nodal Medical Officer to be
permanently stationed in the Hospital to support, guide
and monitor the treatment of patients referred by the
Government.

The Company has moved an Interlocutory Application
before the Hon'ble Supreme Court seeking direction
that the conditions relating to provision of free treatment
facilities for patients belonging to indigent category to the
extent of 10% IPD and 25% OPD be made applicable to
the Company as have been made applicable in case of
other hospitals. Additionally, the Company has also made
representations before the Government of NCT of Delhi
to allow the Company to extend free treatment including
medicines and consumables up to 10% IPD and 25% OPD
as applicable to other hospitals.

During the year, a total of 45,133 patients (40,378 Out
Patients and 4,755 In Patients) were treated under the free
category.

Awards and Accolades

The Hospital received a number of awards and accolades
during the year. Some of them are as under: -

• Best Private Multispecialty Hospital in Delhi by The
Week - Hansa Research Survey.

• Sanjeevani 2024 healthcare and wellness Expo
Certificate of recognition in Pediatric hematology
& bone marrow transplant, Kidney transplant and
Radiation oncology.

• World’s best hospital by Newsweek.

• Excellence in clinical services by Association of
Healthcare Providers of India (AHPI).

• National winner sustainability award by CAHOCON.

• Best hospital in Neurology & Neurosurgery and
Oncology radiation by Medical Value Travel Award

• Codestemi-clinical effectiveness - Hospital Management
Asia.

• JCI Prime Certification.

Accreditation

Healthcare accreditation is one of the major steps towards
improving quality and patient safety. Indraprastha Apollo
Hospitals was the first hospital in the country to get Joint
Commission International (JCI) accreditation in the year
2005. It has been reaccredited for the seventh time in
December, 2023.This milestone is a testament to our
commitment to maintaining the highest standards of patient
care and safety.

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
Listing Regulations, forms an integral part of this report.
The requisite certificate from Mr. Baldev Singh Kashtwal,
Practicing Company Secretary, 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 Listing Regulations, forms
an integral part of this report.

BUSINESS RESPONSIBILITY & SUSTAINABILITY
REPORT

In terms of the provisions of the Listing Regulations, the
Business Responsibility & Sustainability Report is not
appliable to Company.

SEXUAL HARASSMENT POLICY

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 (ICC) for providing a
redressal mechanism pertaining to sexual harassment of
women employees at the work place.

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 Whistle Blower Policy may be accessed on
the Company’s website on the https://cdn.apollohospitals.
com/delhi/2024/Whistle-Blower-Policy.pdf During the year,
no matter or incident has been received under the Whistle
Blower Policy of the Company.

PARTICULARS OF LOANS GIVEN, INVESTMENTS
MADE, GUARANTEES GIVEN AND SECURITIES
PROVIDED

During the year, the Company has not given any loan or
made an investment, nor given any guarantee in terms of
Section 186 of the Companies Act, 2013.

DEPOSITS

During the year, the Company has not accepted any deposit
as contemplated under Chapter V of the Companies Act,
2013.

DIRECTORS AND KEY MANAGERIAL PERSONNEL
Board Composition and Independent Directors

As at the end of the day on 31st March 2025, the Board
consisted of four Non-Executive - Non-Independent Director,
one Executive Director and six Independent Directors.

Independent directors are appointed, based on the
recommendation of the Nomination and Remuneration
Committee, for a term of five years and are not liable to retire
by rotation. In the opinion of the Board, the Independent
Directors fulfil the conditions specified in the Listing
Regulations and are independent of the management.

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.

In the opinion of the Board, the Independent Directors
possess the requisite expertise and experience and are
persons of high integrity and repute. They fulfill the conditions
specified in the Act and the Listing Regulations and they are
independent of the management.

Retirement by Rotation

Pursuant to Section 152 of the Companies Act 2013, Dr.
Suneeta Reddy and Dr. Sangita Reddy, Directors, retire by
rotation at the ensuing Annual General Meeting and being
eligible, have offered themselves for re-appointment. Based
on the outcome of the performance evaluation process,
the Board recommends their reappointment. The notice
convening the AGM, to be held on September 24, 2025,
sets out the relevant details.

Change in Board Composition

Mr. Sandip Somany (DIN 00053597) and Mr. Tejpreet
Singh Chopra (DIN 00317683) have been appointed as
Independent Directors of the Company, for a period of 5
consecutive years effective from April 1,2024 to March 31,
2029.

Dr. Menaka Guruswamy (DIN 08742679) completed her
tenure viz. first term of five (5) consecutive years on May 22,
2025, as Independent Director on the Board of Directors
of the Company. Owing to her professional commitments
and law practice as a Senior Advocate at the Supreme
Court of India, she opted not to renew her second term as
an Independent Director on the Board of Directors of the
Company. Consequently, she ceased to be the Independent
Director of the Company.

Dr. Arun Rai (DIN 07159822) completed his tenure viz.
second term of five (5) consecutive years on May 25, 2025,
as Independent Director on the Board of Directors of the
Company. Consequently, he ceased to be the Director of
the Company.

Mr. Sudhir Jalan (DIN 00111118) has been appointed as
Independent Director of the Company, for a period of 5
consecutive years effective from August 6, 2025 to August
5, 2030.

The Company is yet to get nomination from the Govt. of NCT
of Delhi for appointment of 3 Directors including Chairman
of the Company.

The Board places on record its appreciation for the
invaluable contribution and guidance given by Dr. Arun Rai
and Dr. Menaka Guruswamy as Independent Director of the
Company.

Key Managerial Personnel

Pursuant to the provisions of Section 203 of the
Companies Act, 2013, the Key Managerial Personnel of the
Company are Mr. Shivakumar Pattabhiraman - Managing
Director, Mr. C. P. Tyagi - Chief Financial Officer and
Mr. Priya Ranjan - Associate Vice President - Corporate
Affairs & Legal.

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 working of the Committees. The manner in which the
evaluation has been carried out has been enumerated in the
Corporate Governance Report.

NOMINATION & REMUNERATION POLICY

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

MEETINGS OF THE BOARD

The Board met five 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, read with the
Listing Regulations.

RISK MANAGEMENT

The Board of Directors has 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 about risk assessment and
minimisation procedures. 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, scale and complexity of its operations.

The Internal Audit function reports to the Audit Committee
to maintain its objectivity and independence. 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, 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, 2025,
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
31,2025, 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, 201 3, 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, 2025,
was ' 91.67 Crores.

During the year under review, the Company has not issued
shares with differential voting rights nor granted stock
options nor sweat equity. As of March 31,2025, 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.

EMPLOYEE STOCK OPTIONS

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

CREDIT RATINGS

During the year ended March 31,2025, ICRA has:

a) reaffirmed long-term - fund based - cash credit rating

of [ICRA]AA (pronounced ICRA Double A) for ' 32.50

Crores and short-term - non-fund based rating of

[ICRA]A1 (pronounced ICRA A One Plus) for ' 30

Crores bank facilities; and

b) assigned long term - fund based - term loan credit
rating of [ICRA]AA (pronounced ICRA Double A) for
' 100.0 Crores, to 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 and approved by the Audit Committee.

During the year, the Company has 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. Since, there were no material transactions of
the Company with any of its related parties, disclosure of the
Related Party Transactions as required under Section 134(3)
(h) of the Companies Act, 2013, in AOC-2 is not applicable
to the Company.

The details of RPTs during the financial year, including
transactions with person or entities belonging to the
promoter/ promoter group which hold(s) 10% or more
shareholding in the Company are provided in the
accompanying financial statements.

The policy on materiality of related party transactions as
approved by the Board may be accessed on the Company's
website at https://cdn.apollohospitals.com/delhi/2024/
Policy-on-Related-Party-Transaction.pdf .

Your Directors draw the attention of the members to Notes
to the financial statements which sets out related party
disclosures.

During the financial year, the Independent Directors of the
Company had no pecuniary relationship or transactions
with the Company other than sitting fees, commission and
reimbursement of expenses, as applicable.

PARTICULARS OF EMPLOYEES AND RELATED
DISCLOSURES

Disclosure pertaining 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 is annexed to the Report
as Annexure -1.

Statement containing particulars of top 10 employees and
particulars of employees as required under Section 197
(12) of the Act read with Rule 5(2) and (3) of the Companies
(Appointment and Remuneration of Managerial Personnel)
Rules, 2014 is provided as a separate Annexure forming
part of this report.

In terms of proviso to Section 136(1) of the Act, the Report
and Accounts are being sent to the Shareholders, excluding
the aforesaid Annexure. The said Statement is also open for
inspection. Any member interested in obtaining a copy of
the same may write to the Company Secretary.

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

INDUSTRIAL RELATIONS

The Industrial Relations continued to be cordial during the
year under review.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

As part of its initiatives under Corporate Social Responsibility
(CSR), the Company has undertaken projects in the areas
of Community 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 2024-25 is annexed herewith marked as
Annexure - 2 to this Report.

STATUTORY AUDITORS

The Members at the Annual General Meeting held on
September 23, 2022, had approved the re-appointment
of Statutory Auditors of your Company namely, M/s S.N.
Dhawan & Co., LLP, Chartered Accountants, for the second
and final term of five consecutive years, to hold office from
the conclusion of the 34th Annual General Meeting till the
conclusion of the 39th Annual General Meeting to be held
in the year 2027.

The Report given by Statutory Auditors on the financial
statement of the Company for the financial year 2024-25
forms part of the Annual Report. The Notes on the financial
statements referred to in the Auditors' Report are self¬
explanatory and do not call for any further comments.

The Auditors' Report on the financial statements of the
Company for the financial year ended March 31, 2025,

is unmodified i.e. it does not contain any qualification,
reservation or adverse remark.

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 Devarajan Swaminathan
and Co., Cost Accountants (FRN 100669), to audit the cost
accounts of the Company for the financial year 2025-26 on
a remuneration of ' 6.50 Lacs.

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 Devarajan
Swaminathan and Co., Cost Accountants (FRN 100669), is
included at Item No. 7 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 of Directors of the Company based on the
recommendation of Audit Committee, propose to appoint
M/s RSM & Co., Peer Reviewed Firm of Practicing Company
Secretaries, (Firm Registration No. P1997DE017000),
as the Secretarial Auditors of the Company, to undertake
secretarial audit of the Company for a period of five
consecutive years commencing from Financial Year 2025¬
26 to FY 2029-2030.

The Company has received a written consent, eligibility
letter and other necessary declarations and confirmations
from M/s RSM & Co., Practicing Company Secretaries,
stating that they satisfy the criteria provided under Section
204 of the Companies Act, 2013 read with Regulation 24A
of Listing Regulations and that the appointment, if made,
shall be in accordance with the applicable provisions of the
Act and rules framed thereunder.

If approved by the Members, the appointment of M/s RSM
& Co., Practicing Company Secretaries as the Secretarial
Auditors will be for a period of five consecutive years
commencing from Financial Year 2025-26 to FY 2029-2030.

Secretarial Auditors Report

Pursuant to the provisions of Section 204 of the Companies
Act, 2013, and Regulation 24A of the Listing Regulations,
the Board had appointed M/s RSM & Co., a firm of Company
Secretaries in Practice, to conduct Secretarial Audit for the
financial year ended March 31,2025. The Secretarial Audit
Report for the financial year ended March 31, 2025, is
annexed herewith marked as Annexure - 3, to this Report.
During the period under review, the Company has
complied with the provisions of the Act, Rules, Regulations,
Guidelines, Standards etc. and the same is covered under
the Secretarial Audit Report, save and except that the Govt.
of NCT of Delhi - one of the promoters of the Company,
have not dematerialised their shareholding in the Company.
Requests have been made by the Company to the GNCTD
to get their shareholding dematerialised.

Internal Auditors

The Board of Directors of the Company based on the
recommendations of the Audit Committee, appointed M/s
SCV & Co. LLP., as Internal Auditors to conduct Internal
Audit of the Company for a period up to September 30,
2027.

Board’s response on Auditor’s qualification, reservation
or adverse remarks or disclaimer made.

The Directors hereby confirm that there are no qualifications,
reservations or adverse remark made by the statutory
auditors of the Company or in the secretarial audit report
by the practicing company secretary and secretarial
compliance report for the year ended March 31,2025.

REPORTING OF FRAUDS BY AUDITORS

During the year under review, neither the statutory auditors
nor the secretarial auditors has reported to the Audit
Committee, under Section 143 (12) of the Companies
Act, 2013, any instances of fraud committed against the
Company by its officers or employees.

OTHER DISCLOSURES:

a) During the year, the Company had complied with the
applicable, Secretarial Standards relating to “Meetings
of the Board of Directors” and “General Meetings”
during the year.

b) There are no proceedings initiated/pending against
the Company under the Insolvency and Bankruptcy
Code, 2016, which materially impact the business of
the Company.

c) There were no instances where the Company required
the valuation for one time settlement or while taking
loans from the Banks or Financial Institutions.

PARTICULARS REGARDING CONSERVATION OF
ENERGY, TECHNOLOGY 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, 201 4, is annexed herewith marked as
Annexure - 4 to this Report.

ANNUAL RETURN

In accordance with the provisions of Section 92(3) read with
section 1 34(3)(a) of the Companies Act, 201 3, and Rules
framed thereunder, an annual return in the prescribed format
for the financial year 2024-25 is available on the website of
the Company at https://www.apollohospitals.com/region/
delhi/investor-relations/ .

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation of
the contribution made by the consultant doctors and 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, bankers and other
financial institutions, the Government of NCT of Delhi and
shareholders of the Company for their continued support.

For and on behalf of the Board of Directors

Dr. Prathap C. Reddy

Vice Chairman
(DIN 00003654)

Place : New Delhi
Date : August 6, 2025