To,
The Members,
Your Directors have pleasure in presenting the 3rd A nnual R eport of your company
along with the Audited Financial Statements for the Financial Year ended on 3 1st March,
2024.
FINANCIAL PERFORM ANCE:
The summary of the financial performance of the Company for the Financial Year 2023-24
as compared to the previous Financial Year 2022-23 is as follows:
(Rs. In Hundred)
| PARTICULARS |
2023-24 |
2022-23 |
| Operating Income |
39,30,483.76 |
28,51,022.23 |
| Other Income |
2,08,124.39 |
1,10,039.45 |
| Total Income |
41,38,608.15 |
29,61,061.68 |
| Less: Total Expenditure |
38,26,688.22 |
28,35,085.33 |
| Profit before tax |
3,11,919.93 |
1,25,976.35 |
| Less: Tax Expenses |
86,776.12 |
50,443.19 |
| Profit for the period |
2,25,143.80 |
75,533.16 |
| Earning per equity share: |
|
|
| 1)Basic |
11.26 |
3.78 |
| 2)Diluted |
11.26 |
3.78 |
TRANSFER TO RESERVES
During the year under review, the Company has not transferred any amounts to the
General reserve.
DIVIDEND
Your Board did not recommend any dividend on the equity shares of the Company for
financial year ended March 31, 2024 considering that the Company is in growth stage and
requires funds to support its growth objectives.
DETAIL OF LOAN RECEIVED FROM DIRECTORS
During the period under review, Company has outstanding amount of Rs. 4,43,96,570 in
the form of unsecured loan from directors as on 31st March, 2024.
TRANSFER OF UNCLAIM ED DIVIDEND AND SHARES TO INVESTOR EDUCATION AND PROTECTION FUND
There is no unclaimed dividend amount, which needs to be transferred to Investor
Education and Protection Fund.
ADEQUACY OF INTERNAL FINANCIAL CONTROLS W ITH REFEREN CE TO FINANCIAL STATEMENTS
The Company has in place adequate internal financial controls with reference to
financial statements. During the year under review, such controls were tested and no
reportable material weaknesses in the design or operation were observed.
STATUTORY AUDITORS
Statutory Auditors of the Company, M/s. G. D. Singhal & Associates, C hartered
Accountants (FRN: 017648N), is proposed to be appointed as statutory Auditors in pursuance
to section 139(1) of the Companies Act, 2013 for period of 5 years in this Annual General
Meeting to hold office from the conclusion of this Annual
General Meeting up to the conclusion of the Annual General Meeting to be held for the
Financial Year 2028-29.
The Company has received the eligibility certificate from the Statutory Auditors
confirming that they are not disqualified from continuing as an Auditor of the Company.
AUDITORS' REPO RT
The Auditors' Report to the Shareholders does not contain any reservation,
qualification or adverse remark.
During the year under review, the Auditors have not reported any matter under Section
143(12) of the Companies Act, 2013. Therefore, no detail is required to be disclosed under
Section 134(3) (ca) of the said Act.
BOARD M EETINGS
During the financial year under review, Fifteen (15) Board meetings were held. The
details of Board Meetings and director's attendance on each Board meeting is as follows:
| Name of Director |
Designation |
No. of Board meeting entitled to attend |
No. of Board meeting Attended |
| Dr. KAMAL BAGHI |
Director |
15 |
15 |
| Dr. SAURABH BAGHI |
Director |
15 |
15 |
| Dr. VAISHALI SAINI |
Director |
15 |
15 |
DIRECTO RS' RESPON SIBILITY STATEM ENT
In terms of Section 134 (5) of the Companies Act, 2013 your Directors
confirm that:
(a) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to material departures;
(b) the directors had selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and prudent so as to
give a true and fair view of the state of affairs of the company at the end of the
financial year and of the profit and loss of the company for that period;
(c) the directors had taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of this Act for
safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities;
(d) the directors had prepared the annual accounts on a going concern
basis; and
(e) the directors had devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
RISK MANAGEMENT
The Company has an efficient Risk Management framework to identify and evaluate
business risks and opportunities. Risk Management forms an integral part of the Company's
Mid-Term Planning cycle. The
Company has adequate internal control systems and procedures to combat risks.
SUBSIDIARY/JOINT VENTURE/ASSOCIATE COM PANIES
There is no Subsidiary/Joint Venture/Associate Companies of the company.
LOANS, GUARANTEES OR INVESTM ENTS
There were no loans, guarantees or investments made by the Company under Section 186 of
the Companies Act, 2013 during the year under review and hence the said provision is not
applicable.
RELATED PARTY TRANSACTIONS
All contracts/arrangements/transactions entered into by the Company during the year
under review with Related Parties were in the ordinary course of business and on arm's
length basis. During the year under review, the Company had not entered into any contract/
arrangement/ transaction with related parties which is required to be reported in Form No.
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.
The details of the related party transactions as per Accounting Standards (AS) - 18 are
set out in the Financial Statement of the Company.
SIGNIFICANT AND M ATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There were no significant material orders passed by the regulators / courts, which
would impact the going concern status and its future operations.
DEPOSITS
The Company has not accepted any deposits from the public falling under Section 73 of
the Act read with the Companies (Acceptance of Deposits) Rules, 2014.
ENERGY CONSERVATION, TECHN OLO GY ABSORPTION, FO REIGN EXCHANGE EARNINGS AND OUTGO
Considering the nature of business of your Company, the particulars with respect to
conservation of energy and technology absorption required as per Section 134(3)(m) of the
Act read with Rule 8(3) of the Companies
(Accounts) Rules, 2014, are not applicable to the Company.
EXTRACT OF TH E ANNUAL RETURN
The Annual Return of the Company as on March 31, 2024 in Form MGT - 7 in accordance
with Section 92(3) and Section 134(3) (a) of the Act as amended from time to time and the
Companies (Management and
Administration) Rules, 2014, will be made available on the website of the Company.
M ATERIAL CHANGES AND COM M ITM ENTS, AFFECTING THE FINANCIAL PO SITIO N OF THE COMPANY
OCCURRING BETW EEN THE END OF THE FINANCIAL YEAR OF THE
COMPANY AND THE DATE O F THE REPO RT
There are no material changes and commitments affecting the financial position of your
Company, which have occurred between the end of the FY 2023-24 and the date of this
report. Further, there has been no change in the nature of business of your Company.
COM PLIANCE W ITH SECRETARIAL STANDARDS ON BOARD AND GENERAL M EETINGS
During the year under review, your Company has complied with the Secretarial Standards
1 and 2 on meetings of the Board of Directors and on General Meetings, respectively,
issued by the Institute of Company Secretaries of India and notified by the Ministry of
Corporate Affairs, in terms of Section 118(10) of the Act.
CHANGE IN CAPITAL STRUCTURE O F TH E COMPANY
The issued, subscribed and paid-up equity share capital of the Company is Rs.
2,00,00,000 divided into 20,00,000 equity shares of Rs. 10/- each. There were no changes
in the Capital structure of the Company during the financial year 2023-24.
REQUIREM ENTS TO MAINTAIN COST RECORDS
The requirement of maintaining cost records in accordance with Section 148(1) of the
Act read with the Rules 3 of the Companies (Cost Records and Audit) Rules, 2014 is not
applicable to the Company for the period under review.
DETAILS OF COST AUDIT AND COST AUDITOR
As per Section 148 of the Companies Act, 2013 read with Rule 4 of the Companies (Cost
Records and Audit) Rules, 2014, provisions relating to audit of cost records are not
applicable to the Company for the period under review.
DECLARATION OF INDEPENDENT DIRECTORS
The provisions of Section 149(6) for appointment of Independent Directors do not apply
to the company.
OPINION OF THE BOARD W ITH REGARD TO INTEG RITY, EX PERTISE AND EXPERIENCE (INCLUDING
THE PRO FICIEN CY ) OF THE INDEPENDENT DIRECTO RS
Company is not mandatorily required to appoint independent directors on the board of
company accordingly no independent director has been appointed during the period under
review.
DISCLOSURE UNDER TH E SEXUAL HARASSMENT OF W OM EN AT W ORKPLACE (PREVENTION, PR O H
IBITIO N AND REDRESSAL) ACT, 2013
In compliance with the requirement of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition
& Redressal) Act, 2013 and rules made thereunder, your Company has adopted a
Prevention of Sexual
Harassment Policy for the prevention of sexual harassment and constituted Internal
Complaints Committee to deal with complaints relating to sexual harassment at workplace.
THE DETAILS OF APPLICATIO N MADE O R ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016
There was no application made or any proceeding pending under IBC during the Financial
Year under review against the Company.
THE DETAILS OF DIFFEREN CE BETW EEN AMOUNT OF THE VALUATION DONE AT THE
TIM E OF ONE-TIM E SETTLEM EN T AND THE VALUATION DONE W H ILE TAKING LOAN
FROM THE BANKS O R FINANCIAL INSTITUTIONS
There was no instance of one-time settlement with any Bank or Financial Institutions
during the Financial Year under review.
ACKNOW LEDGEM ENT
Your Directors wish to place on record their deep appreciation for the dedication,
commitment and valuable contribution of each employee for enabling the Company to expand
and grow.
Further the Company also places on record its sincere appreciation for the continuing
support and assistance rendered by the bankers, Government authorities, dealers,
suppliers, business associates and Company's valued customers in ensuring an all-round
operational performance.
|
FO R AND ON BEHALF O F TH E BOARD OF DIRECTORS |
|
OF ABH HEALTHCARE PRIVATE LIM ITED |
|
L KAMA AGHI |
DR. S BAGHI |
| Date: 16 Septem ber, 2024 |
(Director) |
(M an Director) |
| Place: FIRO ZPUR |
DIN: 084497 |
DIN: 18201 |
|