14 Apollo Home Healthcare LTD

APOLLO
4I Weareyourfamily
APOLLO HOME HEALTHCARE LIMITED
FIFTH ANNUAL REPORT
2018 - 2019
Apollo Home Healthcare Limited

Corp. Off: #8-2-293/82/11253-A, Plot No. 253/A, Road No.12, Venkateswara Colony, Banjara Hills, Hyderabad-500 0N* "36O 6006
Regd. Off :No.19 Bishop Gardens, Raja Annamalai Puram, thennai -600028 I Ph.No. 91 4428293333 Fax No. 9144 28296795
I
Website : www.apollohomecare.com, Email : [email protected]
CIN:- U851001N2014PLC095340
CONTENTS
Board of Directors and Management
Notice of the Meeting
Directors' Report
Auditors' Report
Balance Sheet
Profit & Loss Account
Cash Flow Statement
Notes to Accounts
ANNUAL REPORT 2018-2019
BOARD OF DIRECTORS
1. Mrs. Shobana Kamineni
2. Mrs. Sangita Reddy
3. Mr. Harshad Reddy
4. Mr. V. Subramanian
5. Mr. Pavan Krishnamurthy
6. Mrs. Jayakumar Indira
7. Mr. Shivram Sethuraman
REGISTERED OFFICE
3rd Floor, Au Towers,
#55, Greams Road.
Thousand Lights , Chennai 600 006.
ADMINISTRATIVE OFFICE
D.No. 8-2-293/82/L, Plot No.253/A, 2nd & 3rd Floor,
Venkateswara Colony, Road No:12 I Banjara Hills,
Hyderabad, Telangana — 500034.
BANKERS
HDFC Bank Ltd
AUDITORS
P. Gopal &Associates
Chartered Accountants
Chennai - 600 018.
CHENNAI - 600 006
NOTICE TO THE SHARE HOLDERS
Notice is hereby given that the FOURTH ANNUAL GENERAL MEETING of the Share Holders
of APOLLO HOME HEALTHCARE LIMITED will be held at the Registered Office of the
Company at 3rd Floor, All Towers, #55, Greams Road, Thousand Lights, Chennai 600 006. on
100 May 2019 at Chennai to transact the following business:
ORDINARY BUSINESS
1. To receive, consider and adopt the Audited Statement of Accounts for the year ended
31st March 2019 and the Reports of the Directors' and Auditors' thereon.
2. To appoint Auditors to hold office from the conclusion of this meeting until the
conclusion of the next Annual General Meeting and fix their remuneration. M/s. P. Gopal
& Associates, Chartered Accountants, Chennai — 600 018, retire at this meeting and are
eligible for reappointment.
S1ECIAL BUSINESS
3. To consider and if thought fit, to pass the following resolution, with or without
modification(s), as an Ordinary Resolution: -
Appointment of Mr. Shivram Sethuraman as Independent Director & Mrs. Indira

Jayakumar as Director
"RESOLVED THAT Mr. Shivram Sethuraman (DIN: 07946245) & Dr. Indira Jayakurnar
(DIN: 07549925) who were appointed as Independent Director of the Company, and the
Articles of Association of the Company, and in respect of whom the Company has
received a notice from a member under Section 160 of the Companies Act, 2013,
proposing their candidature, be and is hereby appointed as a Directors of the Company."
For and on behalf of thBoard of Directors
Place: Chennai Sangita Rildy

Date: 06° May 2019 Director
DIN: 00006285
Regd Office:
(CIN: U85 I OOTN2O 14PLC095340)
19, Bishop Gardens
Raja Annamalai Purani
Chennai — 600 028, Tamil Nadu
Website:www.apol Iohomecare.com; Email: [email protected]
NOTES:
I. An explanatory statement pursuant to Section 102(1) of the Companies Act, 2013, is annexed
hereto.
2. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING iS ENTITLED

TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND A
PROXY NEED NOT BE A MEMBER OF THE COMPANY. The instrument appointing a
proxy should be deposited at the registered office of the company not less than forty-eight
hours before the commencement of the meeting
3. Corporate members intending to send their authorised representatives to attend the Meeting
are requested to send to the Company a certified true copy of the Board Resolution
authorising their representative to attend and vote on their behalf at the Meeting.
4. The Register of Directors and Key Managerial Personnel and their shareholding maintained
under Section 170 of the Companies Act, 2013, will be available for inspection by the
members at the AGM.
EXPLANATORY STATEMENT AS REQUIRED UNDER SECTION 102(1) OF

TIlE COMPANIES ACT, 2013
ITEM NO.3
About Mr. Shivrarn Sethuraman:
Mr. Shivram is tIM Lucknow Graduate & carries with him rich HR experience of over 20
years.
In view of his academic qualifications and rich experience in the HR sector, it is proposed to
appoint him as an Independent Director of the Company.
None of the other Director, except Mr. Shivram & Dr. Indira is interested or concerned in the
resolution.
About Dr. Indira Jayakumar
Dr. Indira is qualified with DCH, DNB Pediatrics, Fellowship Pediatric Critical Care.
Australia & is Senior Consultant, ER & PICU at Apollo Children's Hospital. Chennai &
she is currently Associate Professor at AHERF.
In view of her academic qualifications and rich experience in the Clinical area, it is proposed
to appoint her as a Director of the Company.
None of the other Director, except Mr. Shivram & Dr. Indira is interested or concerned in the
resolution.
For and on behalf of theil3oard of Di rectors
Place: Hyderabad
dfi Sangita Reddy
Date: 6Ih May 2019 Director
DIRECTORS' REPORT
Dear Members,
Your directors have immense pleasure in presenting the Fourth Annual Report of
APOLLO HOME HEALTHCARE LIMITED along with the Audited Accounts for the
year ended 31st March 2019.
1. FINANCIAL SUMMARY OR PERFORMANCE OF THE COMPANY
The Financial results of the Company for the year under review are as under:
31.03.2019 31.03.2018
PARTICULARS
Revenue from Operations 359,734,409 266,288,521

Profit / (Loss) before Tax (691,67,702) (81,438,168)
Less: Deferred Tax (36,85,595) 482,645
Less: Provision for Taxation NIL NIL
Profit / (Loss) after Tax (654,82,107) (81,920,813)
2. REPORTING OF FINANCIAL STATEMENTS IN INDIAN ACCOUNTING

STANDARD (IND-AS) FORMAT
The Ministry of Corporate Affairs (MCA) on February 16, 2015, notified that Indian
Accounting Standards (md AS) are applicable to certificate clauses of Companies
from April 1, 2016, with a transition date of April 1, 2015. md AS has replaced the
previous Indian GAAP prescribed under Section 133 of the Companies Act, 2013
("the Act") read with Rule 7 of the Companies (Accounts) Rules, 2014. The
Company has adopted md AS for FY 2017-18. The reconciliations and descriptions
of the effect of the transition from previous GAAP to md AS has been set out in
Note No (NA) in the notes to accounts in the Audited Financial Statements.
3. SHARE CAPITAL
The Company has issued 69,55,882 Equity Shares of Rs. 10/- each during the year as
detailed below. The paid-up share capital as on March 31, 2019 was Rs. 166,687,200
During the year under review, the Company has not issued shares with differential
voting rights nor granted stock options nor sweat equity.
Shares issued in f/o. No. of Shares Notes

Western Hospitals 44,55,882 Issued at a premium of
Corporation Pvt. Ltd. Rs.7 per Share
Apollo Hospitals 25,00,000 Converted Debentures into
Enterprises Ltd. Equity
As on March 31, 2019, the details of the shareholding by the Directors of the
Company are set out in Form No. MGT-9 forming part of the Board's Report and
none of the directors hold convertible instruments of the Company.
4. COMPULSORILY CONVERTIBLE DEBENTURES
The Company has converted 25,00,000 Debentures out of 97,00,000 Debentures into
Equity. Thus, at the end of year as at 3lS Mar'19, 72,00,000 No.s of 11%
Compulsorily Convertible Debentures of Rs. 10/- each are in favour of MIs. Apollo
Hospitals Enterprise Limited for an aggregate consideration of Rs.7,20,00,000.
5. DIVIDEND
The Directors do not recommend any dividend on Equity Shares for the financial
year 2018-19, in the absence of profits.
6. TRANSFER TO RESERVES
The Company does not propose any amount to be transferred to reserves.
7. PUBLIC DEPOSITS
The Company has not invited or accepted any deposits from the public.
8. MATERIAL CHANGES AND COMMITMENTS
There were no material changes and commitments affecting the financial position of
the company.
9. SUBSIDIARY
The Company has no subsidiary as on the date of this Balance Sheet.
10. DIRECTORS & KEY MANAGERIAL PERSONAL
The Board has appointed Mr. Shivram Sethuraman as Independent Director with effect
from 31st Oct 2018 & Mrs. Indira Jayakumar as Director with effect from P Apr 2018.
The Company has not appointed any key managerial personnel during the year.
11. NUMBER OF MEETING OF THE BOARD:
During the year 2018-19, the Board of Directors met eight times viz, on
S. No Date
1 29-Jun-18
2 20-Jul-18
3 28-Sep-18
4 13-Oct-18
5 31-Oct-18
6 28-Dec-18
7 01-ia n-19
8 08-Mar-19
12. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER

SECTION 186:
The Company has not advanced any loans, given any guarantees or made any
investments under Sec 186 of Companies Act, 2013.
13. RELATED PARTY TRANSACTION
All related party transactions that were entered into during the Financial Year were
in the ordinary course of business. The details of the transaction with Related Parties
are provided in the accompanying Financial Statements.
14. DISCLOSURE OF INFORMATION AS REQUIRED UNDER SECTION

134(3) (M) OF THE COMPANIES ACT, 2013.
(i) CONSERVATION OF ENERGY
The Company uses energy efficient equipment as its efforts towards conservation
of energy.
(ii) TECHNICAL ABSORPTION AND RESEARCH & DEVELOPMENT
Your Company has no activities relating to Technology Absorption and Research

& Development.
(iii) FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, your company has not earned Foreign Exchange.
The Foreign Exchange outgo is nil.
15. AUDITORS
M/s. P. Gopal & Associates, Chartered Accountants, Chennai — 18, retires at the
forthcoming Annual General Meeting and being eligible offer themselves for
re-appointment.
16. AUDITORS REPORT

The Auditors did not make any qualification, reservation or adverse remark or
disclaimer on the financial statements prepared as per Section 133 of Companies Act,
2013, and notes on Accounts annexed thereto.
17. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an internal Control System, commensurate with size, scale and
complexity of its operations.
18. DIRECTOR'S RESPONSIBILITY STATEMENT
To the best of their knowledge, belief and according to the information and
explanations obtained by them, your Directors make the following statements in
terms of Section 134(3)(c) of the Companies Act, 2013:
a) In the preparation of the annual accounts for the year ended March 31, 2019 the
applicable accounting standards have been followed by the company, with
proper explanations, and that there were no materials departures.
b) Appropriate accounting policies have been selected and applied consistently and
made judgments and estimates that are reasonable and prudent so as to give a
true & fair view of the state of affairs at the end of the financial year and of the
loss of the company for the financial year ended 31St March 2019.
c) 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) The annual accounts have been prepared on a going concern basis.
e) The proper internal financial controls were in place and that the financial controls
were adequate and were operative effectively.
f) 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.
19. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE

REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING
CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE
During the year under review there has been no such significant and material orders
passed by the regulators or courts or tribunals impacting the going concern status and
company's operations in future.
20. PARTICULARS OF EMPLOYEES
There is no employee during the year under review whose particulars are required to
be given as per the provisions of Section 197(12) of the Companies Act. 2013 with
Rule 5(1) of the Companies Rules, 2014.
21. DISCLOSURES UNDER SEXUAL HARRASMENT OF WOMEN AT WORK
PLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
The Company is yet to adopt a Policy on prevention, prohibition and redressal of

sexual harassment at work place in line with the provisions of the Sexual Harassment
of Women at Workplace ((Prevention, Prohibition and Redressal) Act, 2013 and the
Rules there under for prevention and redressal of compliance of sexual harassment at
work place.
22. EXTRACT OF ANNUAL RETURN
As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of
the Companies (Management and Administration) Rules, 2014, an extract of annual
return in form no MGT - 9 as a part of the Annual Report is enclosed as Annexure -
A to this report.
23. OTHER DISCLOSURES
The disclosures pertaining to (i) Corporate Social Responsibility Committee, (ii)

Audit Committee, (iii) Nomination & Remuneration Committee and (iv) Vigil
Mechanism are not applicable to the Company, as your Company does not fall
under the class of Companies.
24. ACKNOWLEDGEMENT
Your directors wish to place on record their deep appreciation for the whole-
hearted and sincere co-operation your Company has received from its Bankers.
Your Directors also wish to extend their sincere thanks to all the customers and
shareholders for their continued support. Your Directors also wish to place on
record their appreciation for the unstinted co-operation and support extended by all
the employees in achieving the performance of your company.
For and on behalf of the Board of Directors
Place: Chennai Sans ita Redv Harshad Reddy

Date: 6th May 2019 Director Director
P. GOPAL & ASSOCIATES
CHARTERED ACCOUNTANTS
No.4, Poes Road 4th Street
Teynampet, Chennai - 600 018
Phone: 2434 0993, 2432 0993
E-mail : [email protected]
Independent Auditors Report on Financial Statements
To
The members of
Report on the Audit of Standalone Financial Statements
Opinion
We have audited the standalone financial statements of Apollo Home Healthcare Limited ("the
Company"), which comprise the balance sheet as at 31st March 2019, the statement of profit and loss
and statement of cash flows for the year then ended, and notes to the financial statements, including
a summary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid standalone financial statements give the information required by the Companies Act, 2013
in the manner so required and give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2019, its loss, and
its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described
in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We
are independent of the Company in accordance with the Code of Ethics issued by the Institute of
Chartered Accountants of India together with the ethical requirements that are relevant to our audit
of the financial statements under the provisions of the Companies Act, 2013 and the Rules
thereunder, and we have fulfilled our other ethical responsibilities ri accordance with these
requirements and the Code of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Facts related to going concern
We draw attention to Note 11 in the financial statements, which indicates that the Company incurred
a net loss of Rs.6,54,82,107/- during the year ended March 31, 2019 and, as of that date, the
Company's current liabilities exceeded its total assets by Rs.7,79,89,970/- However, on the basis of
the projections made by the company for the next five years and certification of going concern issued
by the management, we are of the view that the company may achieve break even in a few years'
time. Our opinion is not modified in respect of this matter.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significant in
our audit of the financial statements of the current period. Except as stated above on facts related to
going concern, as per our professional judgement, there are no significant key audit matters.
Information Other than the Financial Statements and Auditor's Report Thereon
The Company's Board of Directors is responsible for the other information. Our opinion on the
financial statements does not cover the other information and we do not express any form of
assurance or conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with
the financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this
other information, we are required to report that fact. As there are no material misstatements in
regard of other information referred herein, we have nothing to report in this regard.
Responsibilities of Management and Those Charged with Governance for the Financial Statements
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the
Companies Act, 2013 ("the Act") with respect to the preparation of these standalone financial
statements that give a true and fair view of the financial position, financial performance and cash
flows of the Company in accordance with the Indian accounting standards (Ind AS), including the
accounting standards specified under section 133 of the Act. This responsibility also includes
maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material misstatement, whether due to
fraud or error.
In preparing the financial statements, the Board of Directors is responsible for assessing the
Company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Board of Directors either intends
to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The
Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these financial statements. With respect to detailed description on auditors
responsibilities and exercise of professional judgment and professional scepticism, refer Appendix C.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2016 ("the Order"), issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Companies Act,
2013, we give in the Annexure A, statement on the matters specified in paragraphs 3 and 4 of
the order, to the extent applicable.
2. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purposes of our audit.
(b) In our opinion, proper books of account as required by law have been kept by the Company
so far as it appears from our examination of those books and proper returns adequate for the
purposes of our audit have been received from the branches not visited by us;
(c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with
by this Report are in agreement with the books of account and with the returns received from
the branches not visited by us;
(d) In our opinion, the aforesaid standalone financial statements comply with the Accounting
Standards specified under Section 133 of the Act, read with Companies (Indian Accounting
Standards) Rules 2015, as amended.
(e) On the basis of the written representations received from the directors as on 31stMarch, 2019
taken on record by the Board of Directors, none of the directors is disqualified as on 31st
March, 2019 from being appointed as a director in terms of Section 164(2) of the Act.
(f) With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate report in
Annexure B.
(g) With respect to the other matters to be included in the Auditor's Report in accordance with
Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of
our information and according to the explanations given to us:
The Company does not have any pending litigations which would impact its financial
position.
ii. The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor Education
and Protection Fund by theCompany.
For P. GOPAL & ASSOCIATES,

FRN:000958S
Place: Chennai M.C.BAGAV 'TH SINGH

Date: 06-05-2019 (Partner)
Membership No: 021803
"ANNEXURE - A" TO THE INDEPENDENT AUDITORS' REPORT
(Referred to in paragraph 1 under 'Report on Other Legal and
Regulatory Requirements' section of our report of even date)
On the basis of such checks as we considered appropriate and according to the information and
explanation given to us during the course of our audit, we report that:
i) In respect of Fixed Assets
a) The Company has maintained proper records showing full particulars, including
quantitative details and situation of fixed assets;
b) The Company has considered depreciation rates in respect of fixed assets in line with
Schedule II of Companies Act, 2013 linking with useful life specified therein.
c) As explained to us, all the fixed assets have been physically verified by the
Management during the year. No material discrepancies were noticed on such
verification.
ii) In respect of Inventories
a) Inventories have been physically verified during the year by the management.
b) The discrepancies noticed on physical verification of the inventory as compared to
books records which has been properly dealt with in the books of account were not
material.
iii) In respect of Loans:
As informed to us, the company has not granted any loans, secured or unsecured to
companies or other parties covered in the register maintained under section 189 of the
Companies Act. Accordingly, the Clause 3(iii) (a) and 3 (iii) (b) of the Order are not
applicable to the Company.
iv) In our opinion and according to the information and explanations given to us, the company
has complied with the provisions of Section 185 and 186 of the Companies Act, 2013 in
respect of loans, investments, guarantees, and security.
v) The Company has not accepted any deposits from the public and hence the directives
issued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any other
relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with
regard to the deposits accepted from the public are not applicable.
vi) As informed to us, the maintenance of Cost Records has not been specified by the Central
Government under sub-section (1) of Section 148 of the Act, in respect of the activities
carried on by the Company.
vii)
a) According to information and explanations given to us and on the basis of our
examination of the books of account and records, the Company has been generally
regular in depositing undisputed statutory dues including Provident Fund, Employees
State Insurance, Income-Tax, GST, Cess and any other statutory dues with the
appropriate authorities. According to the information and explanations given to us,
no undisputed amounts payable in respect of the above were in arrears as at March
31, 2019 for a period of more than six months from the date on when they become
payable.
b) According to the information and explanation given to us, there are no dues of
income tax, GST outstanding on account of any dispute.
viii) In our opinion and according to the information and explanations given to us, the Company
has not defaulted in the repayment of dues to banks. The Company has not taken any loan
either from financial institutions or from the government.
ix) Based upon the audit procedures performed and the information and explanations given by
the management, the Company has not raised by way of Initial Public Offer or Further Public
Offer.
x) Based upon the audit procedures performed and the information and explanations given by
the management, we report that no fraud by the Company or on the Company by its
officers or employees has been noticed or reported during the year.
xi) Based upon the audit procedures performed and the information and explanations given by
the management, the managerial remuneration if paid or provided is in accordance with the
requisite approvals mandated by the provisions of section 197 read with Schedule V to the
Companies Act;
xii) In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of clause 3 of
the Order are not applicable to the Company.
xiii) In our opinion, all transactions with the related parties are in compliance with Section 177
and 188 of Companies Act, 2013 and the details have been disclosed in the Financial
Statements as required by the applicable accounting standards.
xiv) Based upon the audit procedures performed and the information and explanations given by
the management, the Company has issued 25, 00,000 Equity Shares of Rs.10/- each at face
value during the year in lieu of compulsorily convertible debentures of the same value.
xv) Based upon the audit procedures performed and the information and explanations given by
the management, the Company has issued 44,55,882 Equity Shares of Rs.10/- each at a
premium of Rs. 7/- per share during the year in lieu of unsecured loan from Western
Hospitals Corporation Private Limited.
xvi) According to the information and explanation given to us, the Company has not entered into
non-cash transactions with directors or persons connected with them which will come
under the purview of section 192 of the Companies Act, 2013.
xvii) As the Company is not in non-banking financial services, this clause is not applicable.

FRN:000958S
Place: Chennal .C.BAGAVA H SINGH

"ANNEXURE - B" TO THE INDEPENDENT AUDITORS' REPORT
(Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements' section of
our report of even date)
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the
Companies Act, 2013
We have audited the internal financial controls over financial reporting of Apollo Home Health Care
limited as of March 31, 2019 in conjunction with our audit of the financial statements of the Company
for the year ended on that date.
Management's Responsibility for Internal Financial Controls
The Company's management is responsible for establishing and maintaining internal financial controls
based on the internal control over financial reporting criteria established by the Company considering
the essential components of internal control stated in the Guidance Note on Audit of Internal
Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India.
These responsibilities include the design, implementation and maintenance of adequate internal
financial controls that were operating effectively for ensuring the orderly and efficient conduct of its
business, including adherence to 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, as required under the Companies Act, 2013.
Auditors' Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial
reporting based on our audit. We conducted our audit in accordance with the Guidance Note on
Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the Standards
on Auditing, issued by ICAI and deemed to be prescribed under Section 143(10) of the Companies Act,
2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of
Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those
Standards and the Guidance Note require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about whether adequate internal financial controls
over financial reporting was established and maintained and if such controls operated effectively in all
material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal
financial controls system over financial reporting and their operating effectiveness. Our audit of
internal financial controls over financial reporting included obtaining an understanding of internal
financial controls over financial reporting, assessing the risk that a material weakness exists, and
testing and evaluating the design and operating effectiveness of internal control based on the
assessed risk. The procedures selected depend on the auditor's judgment, including the assessment
of the risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion on the Company's internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles. A
company's internal financial control over financial reporting includes those policies and procedures
that:
(1) Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company;
(2) Provide reasonable assurance that transactions are recorded as necessary to permit preparation
of financial statements in accordance with generally accepted accounting principles, and that receipts
and expenditures of the company are being made only in accordance with authorizations of
management and directors of the company; and
(3) Provide reasonable assurance regarding prevention or timely detection of unauthorized

acquisition, use, or disposition of the company's assets that could have a material effect on the
financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the
possibility of collusion or improper management override of controls, material misstatements due to
error or fraud may occur and not be detected. Also, projections of any evaluation of the internal
financial controls over financial reporting to future periods are subject to the risk that the internal
financial control over financial reporting may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls
system over financial reporting and such internal financial controls over financial reporting were
operating effectively as at March 31, 2019, based on the internal control over financial reporting
criteria established by the Company considering the essential components of internal control stated
in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the
Institute of Chartered Accountants of India.

FRN:0009585
/ 41
Place: Chennai M.C.BAGAV SINGH
"ANNEXURE - C" TO THE INDEPENDENT AUDITORS' REPORT
(Referred to in Auditor's Responsibilities for the Audit of the Financial Statements)
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
a. Identify and assess the risks of material misstatement of the financial statements,
whether due to fraud or error, design and perform audit procedures responsive to
those risks, and obtain audit evidence that is sufficient and appropriate to provide a
basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
b. Obtain an understanding of internal control relevant to the audit in order to design

audit procedures that are appropriate in the circumstances. Under section 143(3)(i)
of the Companies Act, 2013, we are also responsible for expressing our opinion on
whether the company has adequate internal financial controls system in place and
the operating effectiveness of such controls.
c. Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by management.
d. Conclude on the appropriateness of management's use of the going concern basis of

accounting and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt on
the Company's ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor's report to the
related disclosures in the financial statements or, if such disclosures are inadequate,
to modify our opinion. Our conclusions are based on the audit evidence obtained up
to the date of our auditor's report. However, future events or conditions may cause
the Company to cease to continue as a going concern.
e. Evaluate the overall presentation, structure and content of the financial statements,
including the disclosures, and whether the financial statements represent the
underlying transactions and events in a manner that achieves fair presentation. We
communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit and significant audit findings, including any
significant deficiencies in internal control that we identify during our audit. We also
provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with
them all relationships and other matters that may reasonably be thought to bear on
our independence, and where applicable, related safeguards.

FRN: 000958 5
Place: Chennal M.C.BAGAVATH SINGH

Balance Sheet as at March 31, 2019
As at 31 March As at 31 March
Particulars Note No 2019 2018
Rs. Rs.
ASSETS
Non-current assets
(a) Property, Plant and Equipment 3 55,41,531 65,03,364
(b) Tax Asset 4 8,68,387 2,72,407
(c) Deferred tax assets (Net) 4.1 37,55,669 70,074
S
(di Financial Assets 45,51,500 44,95,500
(e) Other non-current assets —
Total Non - Current Assets 1,47,17,093 1,13,41,345
Current assets
(a) Inventories . 8,72,492 11,96,958
(b) Financial assets
(i) Trade receivables 1,64,75, 189 1,46, 19,215
(ii) Cash and cash equivalents 1,34,12,611 72,17, 180
(c) Other current assets 9 7,44,674 6,73,681
Total Current Assets 3,15,04,965 2,37,07,033
Total Assets 4,62,22,058 3,50,48,378
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital 10 16,66,87,200 9,71,28,380
(b) Other equity 11 (31,66,77,170) (28,23,86,242)
Equity attributable to owners of the Company (14,99,89,970) (18,52,57,862)
Liabilities
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 7,20,00,000 14,27,50,000
(ii) Other financial liabilities - -
Total Non - Current Liabilities 7,20,00,000 14,27,50,000
Current liabilities
(a) Financial Liabilities
(i) Trade payables 13 10,64,57,635 6,74,18,848
(b) Provisions 14 1,37,23,083 89,75,940
(c) Other current liabilities 15 40,31,310 11,61,452
Total Current Liabilities 12,42,12,028 7,75,56,240
Total Liabilities 19,62,12,028 22,03,06,240
Total Equity and Liabilities 4,62,22,058 3,50,48,378
See accompanying notes to the financial statements
In terms of our report attached. For an - I .f the Board of Directors

for P. GOPAL & ASSOCIATES 7 f)
,,
P\
J
AS ([ /
Sangta 'eddy
Firm Registration No.00958' --
p Director
CHENNAI
*
MCBagavathSingh
Membership No: 21803 - arshad Reddy
Place : Chennai ' - Director
Date : 06th May 2019 fr
Statement of Profit and Loss for the year ended March 31, 2019
For the year ended For the year ended
Particulars Note No. 31.03.2019 31.03.2018
Rs. Rs.
Revenue from Operations 16 35,97,13,945 26,62,17,230

Other Income 17 20,464 71,291
Ill Total Income 35,97,34,409 26,62,88,521
IV Expenses
Cost of materials consumed 6,36,73,211 2,92,97,441
Changes in inventory of stock-intrade 3,24,466 (5,04,405)
Employee benefit expense 18 27,84,34,990 24,49,16,653
Finance costs 19 1,78,22,862 1,54,85,963
Depreciation and amortisation expense 20 20,60,672 26,98,355
Other expenses 21 6,65,85,9 10 5,58,32,682
V Total expenses 42,89,02,111 34,77,26,689
Proflt/(loss) before exceptional items and tax (6,91,67,702) (8, 14,38,168)

Exceptional Items - -
Proflt/(Ioss) before tax (6,91,67,702) (8,14,38,168)

Tax expense
(1) Current tax -
(2) Deferred tax 22 (36,85,595) 4,82,645
(36,85,595) 4,82.645
Profit/(loss) for the period (6,54,82,107) (8,19,20,813)
Other Comprehensive Income

(i) Items that will not be reclassified to profit or loss
(a) Remeasurements of the defined benefit liabilities / - -
Total comprehensive income for the period - -
Total comprehensive income for the Year (6,54,82,107) (8,19,20,813)
Earnings per equity share

Basic (in Rs.) (3.93) (8.43)
Diluted (in Rs.) (2.74) (4.22)
See accompanying notes to the financial statements 23 For and on alf of/he Board of Directors
In terms of our report attached.

<\
for P.GOPAL & ASSOCIATES Sangita Rddy
Chartered Accountants Director
,J
Firm Registration No. 00958S & AS, 0
\ adRe ;
N 1803
De:06th May 2019

Cash Flow Statement for the year ended 31st March 2019
31.03.2019 31.03.2018
Particulars
Rs. Rs.
A Cash Flow from operating activities
Net profit before tax and extraordinary items (6,91,67,702) (8,14,38,168)
Adjustment for:
Depreciation & Amortization 20,60,672 26,98,355
Loss on disposal of asset 33,359 1,19,944
Operating profit before working capital changes (6,70,73,671) (7,86,19,869)
Adjustment for
Trade Receivables (18,55,974) 41,69,065

Inventories 3,24,468 (5,04,405)
Other Non-current Assets (6,51,980) 2,18,183
Other Current Assets (70,993) (6,06,206)
Trade payables 3,90,38,787 67,29,134
Provisions 47,47,143 43,25,684
Other Current Liabilities 28,69,858 1,86,72,164
Net cash from operating activities (2,26,72,363) (4,56,16,250)
B Cash flow from Investing activities

Purchase of fixed assets (11,32,206) (67,728)
Sale of Fixed Assets - 2,38,905
Net cash used in Investing activities (11,32,206) 1,71,177
C Cash flow from financing activities

Proceeds from issue of equity shares - 82,53,380
Proceeds from long term borrowings 3,00,00,000 3,57,50,000
Proceeds from issue of Debentures -
Net cash from financing activities 3,00,00,000 4,40,03,380
Net increase in cash and cash equivalents (A+B+C) 61,95,431 (14,41,693)
Opening Cash and cash equivalents 72,17,180 86,58,873
Closing Cash and cash equivalents 1,34,12,611 72,17,180
(61,95,431) 14,41,693
Component of Cash and cash equivalents
Cash on Hand 46,046 9,048
Balance with Banks 1,33,66,565 72,08,132
For and on bj of the Board of Directors

In terms of our report attached. (
7
for P.GOPAL & ASSOCIATES
4
/
Firm Registration No. 009585 Sangitä Reddy
. Director
ASSO>
Place:Chenn
Date :06th May 2019
3. Property, Plant and Equipment - As of 31-Mar-2019
Gross Block Depreciation - Net Block
Fixed Assets As at As at
As at 1.04.2018 Additions Deletions As at 31.03.2019 As at 1.04.2018 For the Year On disposals As at 1.04.2018
31.03.2019 31.03.2019
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.
Tangible Assets:
Medical Equipment 26,57,862 3,41,887 29,99,749 4,55,742 2,04,917 6,60,659 23,39,090 22,02,122
Furniture and Fixtures 12,48,584 57,952 58,000 12,48,536 4,82,784 2,49,592 29,915 7,02,461 5,46,075 7,65,800
Vehicles 21,36,639 - 21,36,639 6,27,094 2,53,549 8,80,643 12,55,996 15,09,545
Office equipment 68,97,274 7,32,367 1,05,500 75,24,141 48,71,378 13,52,614 1,00,226 61,23,765 14,00,376 20,25,897
Total 1,29,40,359 11,32,206 1,63,500 1,39,09,065 64,36,997 20,60,672 1,30,141 83,67,528 55,41,537 65,03,364
Previous year 1,39,45,749 67,728 10,73,118 1,29,40,359 44,52,910 26,98,355 7,14,270 64,36,995 65,03,364 94,92,839
Notes to the financial statements for the period ended Mar 31, 2019
As at 31.03.2019 As at 31.03.2018
4 Tax Assets Rs. Rs.
Non Current Current Non Current Current
Tax refund receivable 8,68,387 - 2,72,407
As at 31.03.2019 As at 31.03.2018
4.1 Deferred tax balances
Rs. Rs.
Deferred Tax Assets 37,55,669 70,074
Deferred Tax Liabilities - -
Net Deferred Tax 37,55.669 70,074
The major components of deferred tax liabilities/(assets) arising on account of timing differences for the year ended March 31, 2019 are as follows
Recognised in other
Recognised in Profit or
Particulars Opening Balance comprehensive Closing Balance
Loss
income
Property Plant and Equipment .70,074 -18,999 -89,046

Impairment of Trade Receivables as per Expected Credit
-98,622 -98,622
Loss Model
Others Assets
Retirement Benefit Plans -35,68,002 -35,68,002
Business loss carried forward under Income Tax
Minimum Alternate Tax Credit
Others liabilities
Total -70,074 -36,85,623 -37,55,670
The major components of deferred tax Iiabilities/(assets) arising on account of timing differences for the year ended March 31, 2018 are as follows:
Recognised in other
Recognised in Profit or Recognised through
Particulars Opening Balance comprehensive Closing Balance
Loss equity
income
Property Plant and Equipment -5,52,719 4,82,645 -70,074

Fair Value Adjustments on Financial Assets
Others Assets
Retirement Benefit Plans
Business Loss carried forward under Income Tax
Minimum Alternate Tax Credit
Others liabilities
Total -5,52,719 4,82,645 -70,074
As at 31.03.2019 As at 3103.2018
5 Financial Assets Rs. Rs.
Security Deposits 45,51,500 - 44,95,500

Total 45,51,500 - 44,95,500
As at 31.03.2019 As at 31.03.2018
6 Inventories
Rs. Rs.
Inventories (lower of cost and net realisable
value)
Stock in Trade - Medicines 8,72,492 11,96,9,8
Year ended Year ended

Cost of materials consumed
31st March, 2019 31st March, 2018
Opening Stock 11,96,958 6,92, 553

Add: Purchases 6,33,48,746 2 .98,01,846
less: Closing stock 8, 72,492 11,96,958
Total 6,36,73,211 2,92,97,441

Changes in Inventory of medical consumables and drugs
Inventories at the beginning of the year: 11,96,958 6,92,553

Inventories at the closing of the year: 8,72,492 11,96,958
Total 3,24,466 (5,04,405)
As at 31.03.2019 As at 31.03.2018
Trade receivables Rs. Rs.
Trade receivables
Unsecured, considered good - 1,64,75,189 1,46,19.2 15
Unsecured, considered doubtful - 3,79,316 6,26,649
Less: Allowance for doubtful debts (6,26,649)
(3 79 316)
(expected credit loss allowance)
Total - 1,64,75,189 - 1,46,19,215
Trade Receivables represent the amounts outstanding towards various Home HealthCare services which are considered as good by management The entity
holds no other securities other than the personal security of the debtors
ii. Majority of the Company's transactions are earned in cash or cash equivalents. The trade receivables comprise mainly of receivables from Few Individuals &
Corporate customers. The entity's exposure to credit risk in relation to trade receivables is Iow
Average Credit Period

The average credit period on sales of services is 30 days.
Customer Concentration
No single customer represents 10% or more of the company's total revenue during the year ended March 31, 2019 and March 31, 2018 Therefore, the
customer concentration risk is limited due to the large and unrelated Customer base.
Impairment Methodology
The Company has used a practical expedient by computing the expected credit loss allowance for receivables The provision matrix takes into account
historical credit loss experience and is adjusted for forward looking information. The expected credit loss allowance is based on the ageing of the days the
receivables are due and the rates as given in the provision matrix.
The provision matrix at the end of the reporting period for healthcare segment is as follows:
As at As at
Particulars
March 31, 2019 March 31, 2018
Less than 6 months 0.00% 0.00%

6 months to 1 year 12.50% 12.50%
ito 2 years 30.00% 30.00%
2 to 3 years 50.00% 50.00%
>3 years 100.00% 100.00%
As at As at
Particulars
March 31, 2019 March 31, 2018
Less than 6 months 1,4552,609 95,93,173

6 months to 1 year 11,28,333 47,50,245
lto2years 7,94,247 2,75.797
2 to 3 years
>3 years
Ageing of Trade Receivables
As at As at
Particulars
March 31, 2019 March 31, 2018
Less than 1 year 1,56,80,942 1,43,43,418

More thani year 7,94,247 2,75,797
1,64,75,189 1,46,19,215
Movement in the expected credit loss allowance

Particulars
March 31, 2019 March 31, 2018
Balance at beginning of the year 6,26,649

Movement in expected credit loss allowance on trade
-2,47,333 6,26,649
receivables calculated at lifetime expected credit losses
Balance at end of the year 3,79,316 6,26,649
As at 31.03.2019 As at 31.03.2018
8 Balances with Banks
Rs. Rs.
In Current Accounts 1,31,21,565 39,74,018
In Deposit Accounts 2,44,999 32,34,114
Cheques, drafts on hand - -
Cash on hand 46,046 9,048
Chequeson Hand - -
Cash and cash equivalents 1,34,12,611 72,17,180
Bank overdrafts - -
Total 1,34,12,611 72,17,180
As at 31.03.2019 As at 31.03.2018
9 Other Assets Rs. Rs.
Prepald Expenses - 744,674 . 6,73,681

Total -- - - 7.44,674 - 6,73,681
Notes to the financial Statements for the period ended Mar 31, 2019
As at 3103.2019 As at 31.03.2018
10 Equity Share Capital
Rs.
Equty share captal
Authorised Share capital

2,50,C%3,(YJO Shares of Rs.10/- each 25,00,00,000 99000000
(Previous year 99,00,000 shares of Rs.10/- each)
Issued
16668,720 Shares of Rs. 10 each 16,66,87,200 9,71,28,380
( Previous year 97,12,838 Shares of Rs.10/- each)
Subscribed and Paid up capital comprises:

1,66,68,720 Shares of Rs. 10/- each 16,66,87,200 9,71,28,380
Previous year 97,12,838 Shares of Rs. 10/- each)
Total 16,66,87,200 9,71,28.380
Reconciliation of number of Shares outstanding at the beginning and at the end of the period:
As at 31.03.2019 As at 31.03. 18
Particulars No. of Shares Amount Amount
No.of Shares held
held (Rs) (Rs)
Oustariding as at the opening date 97,12838 9,71,28,380 88.87,500 8.88. 7S,

Movement:
Add : Shares issued during the period - - 8.25.338 82,53.380
Add: Additional shares by way of loan converted to equity shares in
44,55,882 4,45,58,820 -
favour of Western Hospitals Corporation Private Limited
Add: Additional shares by way of conversion of part of compulsorily
convertible debentures ri favour of Apollo Hospitals Enterprise 25,00,000 2,50.00, -
Limited
Oustanding as at the closing date 1,66,68,720 16,66,87,200 97,12,838 9,71,28,380
The Company has Only one class of equity shares having a par value of As. 10/- per share.
Fully paid equity shares Number of Shares
Balance at April 1, 2018 97,12,838

Movement
• Debentures Converted to Equity Shares in Favor of Apollo Hospital 25,00,
Enterprise Umited
• Unsecured Loan Converted to Equity Shares in Favor of Western 44,55,882
Hospitals Corporation Private Limited
Balance at March 31, 2019 1,66,68,720
iii) Detals of number of shares held by each shareholder
As at 31.03.2019 As at 31.03.18
S.No. Name of Shareholder
No. of Shares % of Holding No, of Shares held % of Holding
1 Apollo Hospitals Enterprise Ltd. 96,87,500 58.12% 71,87,500 74.00%
2 Dr. Prathap C Reddy 19,25,338 11.55% 19.25,338 1982%
3 Ms. Shobana Kamineni 1,00,000 0.60% 1,00,000 1.03%
4 Ms. Sindoori Reddy 1,00,000 0.60% 1,00, 1.03%
5 Mr. KarthikAnand teddy 1,00.000 060% 1.00,000 103%
6 Ms. Upasna Kamineni 1,00,000 0.60% 1,00.000
7 Mr. Anindith Reddy 1,00,000 0.60% 1.00,000 1 03%
8 Mr. Aditya Reddy 1.00,000 060% 100. t-J3'Y
9 Western Hospitals Corporation Private Limited 44,55,882 26.73% 0 00%
-
Total 1,66,68,720 100.00% 97,12, .DO%
Reserves and Surplus

Other Items of Other Total
11
Particulars Comprehensive Income
Securities premium Retained earnings
Rs. Rs. Rs. Rs.
Balance at the beginning of the reporting period - (28,23,86.242) . (28.23.86.242)
Securities premium on shares 3,11,91,180 (6.54,82,107) . (3,42,90,9271
Transfers -
Balance at the end of the reporting period 3,11,91,180 (34,78,68,350) (31,66,77,170)
Other equity As at 31.03.2019 As at 31.03.2018

Rs. Rs.
General reserve - -
Securities premium reserve 3,11,91,180
Retained earnings (34,78,68,350) (28,23,86,242)
lND AS Transition reserve . -
Balance at the end of the year (31,66,77,170) (28,23,86,242)
Securities premium reserve As at 31.03.2019 As at 31.03.2018

Rs. Rs.
Balance at beginning of year -

Share issue premium 3,11,91,180
Balance at the end of the year 3,11,91,180
Retained earnings As at 31.03.2019 As at 31.03.2018

Rs. Rs.
Balance at beginning of year (28,23,86,242) (20,04,65,429)

Profit attributable to owners of the Company (6.54,82,107) (8,19,20,813)
Other comprehensive income arising from remeasurement of - -
defined benefit obligation net of income tax
Change in fair value of financial liability attributable to changes in

the credit risk which is FVTPL
Payment of dividends on equity shares . -
Transfer to Reserves
Balance at the end of the year (34,78,68,350) (28,23,86,242)
12 As at 31.03.2019 As at 31 03.2018
Borrowings Rs. Rs.
Unsecured - at amortised Cost

(a) Term loans
from related party - - 4,57.50.000
Secured - at amortlsed cost

(a) Bonds/debentures 7,20,00,000 . 9,70,00,000
11% Fully Convertible Debentures Issued In Favour Of Apollo
Hospitals Enterprise Ltd.
- Total 7,20,00,000 - 14,27,50,000
Summary of Borrowing arrangement.s
Principal Outstandingas Prindpal Outstanding as

Details of repayment Rate of Interest 31
S.no. Particulars at 31st March.2019 at 31st March2018 Nature of Security
terms and maturity Mar19
Rs, Ks.
11% Fully Convertible Debentures Issued In favour of Apollo Fuuly Convertible to

1 7,2000.000 9.70.00,000 Debentures 11%
Hospitals Enterprise Ltd Equity on Maturity
2 Loan from Western Hospitals Corporation Put Ltd - 4.57.50.000 Converted to Equity Unsecured Loan 11%
The company has issued 97,00.00011% Compulsorily Convertible Debentures IRs. 10/' each at face value to Apollo Hospitals Enterprise Limited during 2015-6 and 201617 Those are to be converted into
same number of Equity Shares of Ks. 10/- each at face value before the expiry of $ years from the dare of such allotment. The Equity shares to be issued and allotted upon conversion of Compulsorily
Convertible Debentures shall rank pan passu with the euistng Equity shares in all respects including dividend
During the year ended 31032019, the company has issued 25.00,000 shares at face value of Ks. 10/- each in favour of Apollo Hospitals Enterprises Ltd in lieu of compulosrily convertible debentures
amounted to Ru. 2,5O,00,/-
13 Trade Payabtes As at 31,03.2019 As at 31.03.2019

Ru. RI.
a) Trade payables 2,91,01,770 1.76.29.076

)b) Patient deposits 85,44.75.4 56.73.646
)c) Payable to employees 12,06.814 8.11.266
Cd) Outstanding expenses 6,76.04.297 4.33.04.860
Total 10,64,57,635 6.74.18,848
AsAt AuAt
Trade Payables 31st March, 2019 31st March, 2018
Rs. Rs.
Total outstanding dues of micro enterprises and small enterprises

Total outstanding dues of creditors other than micro and small enterprises 2.91,01.770 1,76,29.076
Total 2,91,01,770 1,76,29,076
)i) The average credit period on purchases of goods ranges from immediate payments to credit period of 45 days
Due to Micro, Small and Medium Enterprises

AAt AsAt
Particulars
31st March. 2019 31st March, 2018
The amounts remaining unpaid to micro and small suppliers as at the end of tIre year
'Principal
- Interest
The amount of interest paid by the buyer at per the MSMED Act
The amount of payments made to micro and small suppliers beyond the appointed day during
the accounting year;
The amount of interest due and payable for the period of delay in making payment which
have been paid but beyond the appointed day during the year) but without adding the interest
specified under the M$MEO Act;
The amount of interest accrued and remaining unpaid at the end of each accounting year
The amount of further interest remaining due and payable even irs the succeeding years. until
such date when the interest dues as above are actually paid to the small enterprise for the
purpose of disallowance as a deductible expenditure under the MSMED Act
As at 31.03.2019 As at 31 03.2018
14 ProvisIons Ru. KS.
Pru,siyn for Gratuity and Leave Encashmerrt - 3'23.C3 . 89.75,940

Total ' 1,37,23,083 . 89,75,940
APOlLO HOME HEALIHCARE LIMITED
Employee Benefit Plans

Defined contribution plans
The Company makes contributions towards provident fund and employees state insurance as a defined contribution retirement benefit fund for qualifying employees. The provident
fund is operated by the regional provident fund commissioner. The amount recognised as expense towards contribution to provident lurid amounted to Rs.23.22 million.
The employee state insurance is operated by the employee state insurance corporation. Under these schemes, the Company is required to contribute a specific percentage of the
payroll cost as per the statute. The amount recognised as expense towards contribution to employee state insurance amounted to Rs 742 million The Company has no further
obligations in regard of these contribution plans,
Defined benefit plans

a) Gratuity
A. Change in Defined Benefit Obligation 31st March, 2019 31st March, 2018
Rs. Rs.
Opening defined benefit obligation 43,98,850

Current service cost 26.32,085
Past service cost, 74,17,653
Interest cost
Remeasuremeris (gainu)/losse
Benefits paid
Closing defined benefit obligation 74.17.653 43,98,850
Valuation as at
B. Significant Actuarial Assumptions
Discount rate(s) 7.50% 7.50%

Expected rate(s) of salary increase 6% 5%
Attrition Rate 10.40% 10.50%
Retirement Age in Years 58.00 58.00
Pre-retirement mortality
Long Term Benefit Plans

Leave Encashment
The company pays leave encashment benefits to employees as and when claimed subject to the policies of the company. The company provides leave benefits through annual
contributions to the fund.
The significant acturiai assumptIons used for the purposes of the actuarial valuations were as follows.
Valuation as at
Discount rate(s) 7.5% p.s. 7.5% p.s.

Expected rate(s) of salary increase 6% pa. 5% pa.
Attritiori Rate 10.40% 10.50%
Retirement Age 58 58
15 Other current liabilities As at 31.03.2019 As at 31.03.2018

Rs. Rs.
(a) Sundry Creditors Others

)b) Statutory Liabilities 40,31,310 11,61,452
Total 40,31,310 11,61.452

16 Revenue from Operations 31.03.2019 31.03.2018
Rs. Rs.
(a) Revenue from rendering of healthcare services 35,97,13,945 26,62,17,230
Total 35,97,13,945 26,62,17,230

17 Other Income 31.03.2019 31.03.2018
Rs. Rs.
a) Interest income
Bank deposits (at amortised cost) 20,464 71,291
Total 20,464 71,291

18 Employee benefits expense 31.03.2019 31.03.2018
Rs. Rs.
Salaries and wages 24,27,56,247 20,98,08,242

Contribution to provident and other funds 2,32,15,819 2,31,18,395
Employee state insurance 74,17,804 64,77,325
Staff education & training 1,84,842 12,50,979
Staff welfare expenses 48,60,278 42,61,712
Total 27,84,34,990 24,49,16,653

19 Finance costs 31.03.2019 31.03.2018
Rs. Rs.
(a) Interest costs

Other interest expense 1,53,95,787 1,40,69,02 1
Bank Charges 24,27,075 14,16,942
Total 1,78,22,862 1,54,85,963

20 Depreciation and amortisation expense 31.03.2019 31.03.2018
Rs. Rs.
Depreciation of property, plant and equipment 20,60,672 26,98,355

Amortisation of intangible assets - -
Total depreciation and amortisatlon pertaining to continuing
20,60,672 26,98,355
operations

21 Other expenses 31.03.2019 31.03.2018
Rs. Rs.
(a) Power and fuel 25,63,232 27,02,469

House Keeping Expenses 9,40,192 10,49,317
Water Charges 1,36,425 73,515
Rent 1,20,67,813 1,12,00,794
Brokerage&Commission 1,40,000 -
Repairs to Buildings 29,080 5,87,309
Repairs to Machinery 10,863 3,06,842
Repairs to Vehicles 2,02,113 2,06,957
Office Maintenance & Others 2,59,795 1,20,124
Insurance 3,45,957 3,27,449
Rates and Taxes, excluding taxes on income 1,09,763 36,839
Printing & Stationery 13,87,608 12, 16,964
Postage & Telegram 1,2 1,650 2,54,357
Director Sitting Fees 1,27, 200 40,000
Advertisement, Publicity & Marketing 1,37,69,170 93,04,582
Travelling & Conveyance 1,85,79,714 1,24,3 1,945
Subscriptions 56,04,386 45,52,048
Legal & Professional Fees 94,400 2,80,500
Recruitment Charges 27,41,272 28, 19,670
Telephone & Internet Expenses 2 1,79,950 26,17,513
Books & Periodicals 7,033 7,938
Bad Debts Written off 44,13,225 38,39,953
Provision for Bad Debts - 6,26,649
Outsourcing Expenses (Security) - 1,76,099
Loss on disposal of asset 33,359 1, 19,944
Miscellaneous expenses 3,04,752 7,26,406
Total 6,61,68,951 5,56,26,182
(b) Payments to auditors

a) For audit 2,95,000 2,06,500
b) For taxation matters - -
d) For other services 5,000 -
c) For reimbursement of expenses 1,16,959 -
Total 4,16,959 2,06,500
Grand total 6,65,85,910 5,58,32,682

22 Income taxes relating to continuing operations 31.03.2019 31.03.2018
Rs. Rs.
Deferred tax
In respect of the current year (36,85,595) 4,82,645
MAT credit entitlement
Total (36,85,595) 4,82,645
Total income tax expense recognised in the current year (36,85,595) 4,82
relating to continuing operations
Operating tease arrangements
The Company as lessee
Leasing arranangement
The company has an options to purchase the equipment for a nominal amount at the end of the lease term. The company's obligations under finance leases are
secured by the lessors title to the leased assets. The company has taken various office premises under Operating leases. The leases typically run for a term
ranging from 1.3 years with an option to renew the lease after term completion. The escalation clause range from 5 to 10% per annum effectively.
Payments recognised as an expense Year ended Year ended

Particulars 31st March, 2019 31st March, 2018
Minimum lease payments 1.2067,813 1,12,00,794

1,20,67,813 1,12,00,794
Non-cancellable operating lease commitments
Particulars 31st March, 2019 31st March, 2018

Not later than lyear
Later than 1 year and not later than S years Not Applicable
Later than 5 years
Uquidity and interest risk tables
The following tables detail the Company's remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables
have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The
tables include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate
curves at the end of the reporting period.
The contractual maturity is based on the earliest date on which the Company may be required to pay.
Weighted
average
3 months to 1 year 1 Year to 5 years >5 years
Particulars effective
Rs. Rs. Rs.
interest rate
(%)
March 31, 2019
Non-interest bearing 10,64,57,635
Variable interest rate instruments
Fixed interest rate instruments
10,64,57,635
March 31,2018
Non-interest bearing 6,74, 18,848
Fixed Interest rate instruments
6,74,18,848
The carrying amounts of the above are as follows:

31-03-2019 31-03-2018
Rs. Rs.
Non-interest bearing 10,64,57,635 6,74,18,848
Fixed interest rate instruments
10,64,57,635 6,74,18,848
Notes forming part of the financial statements for the year ended 31st March 2019
Corporate Information
Apollo Home Healthcare Limited ("the Company") was incorporated on 07thMarch, 2014. The
Company is primarily engaged in Nursing Care, In-home Primary Care, Physiotherapy at Home,
Sample Collection, Post-operative! Post-surgical Care, etc.
2 Significant Accounting Policies
2.1 Statement of Compliance
The financial statements have been prepared in accordance with Indian accounting standards
(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015.
2.2 Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis except for certain
financial instruments that are measured at fair values at the end of each reporting period, as
explained in the accounting policies below. Historical cost is generally based on the fair value of
the consideration given in exchange for goods and services. Fair value is the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date, regardless of whether that price is directly observable or
estimated using another valuation technique. In estimating the fair value of an asset or a liability,
the Company takes into account the characteristics of the asset or liability if market participants
would take those characteristics into account when pricing the asset or liability at the
measurement date. Fair value for measurement and/or disclosure purposes in these financial
statements is determined on such a basis, except for leasing transactions that are within the
scope of lnd AS 17 and measurements that have some similarities to fair value but are not fair
value, such as net realisable value in Ind AS 2 or value in use in Ind AS 36.
2.3 Revenue Recognition in accordance with IND AS-115
Revenue primarily comprises fees charged for rendering healthcare services at home. These
services mainly constitute Home Visit Programs like physiotherapy, vaccination and investigations
etc., Home Partnership Programs like elderly care, ortho rehab, lung rehab etc., and Home
Nursing Programs for nursing services and medical equipment on rent.
As mandated by nd AS 115, entity considers the terms of the contract and its customary business
practices to determine the transaction price linked to the performance obligation of the contract.
Revenue is recognized as and when the entity satisfies the performance obligation i.e., successful
delivery of services and is recorded at the transaction price which is the amount of consideration
the entity expects to be entitled for providing services to patients. The revenue so recognized is
measured at fair value net of returns, trade discounts excluding amounts collected on behalf of
third parties. The entity does not undertake any modification to the transaction price after
inception of the contract.
2.4 Other Income:
Other services income has been accounted on accrual basis
2.5 Borrowings and Borrowing Costs
Borrowings are stated at amortised cost. Any difference between the proceeds (net of
transaction costs) and the redemption value is recognised in the income statement over the
period of the borrowings using the effective interest rate method. Borrowings are classified as
current liabilities unless the Company has an unconditional right to defer settlement of the
liability for at least 12 months after the reporting date. Borrowing costs directly attributable to
the acquisition, construction or production of qualifying assets, which are assets that necessarily
take a substantial period of time to get ready for their intended use or sale, are added to the cost
of those assets, until such time as the assets are substantially ready for their intended use or sale.
Interest income earned on the temporary investment of specific borrowings pending their
expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.
All other borrowing costs are recognised in the statement of Profit and Loss in the period in
which they are incurred.
2.6 Employee benefits
1. Post-employment benefit plans
Contributions to defined contribution retirement benefit schemes are recognized as an

expense when employees have rendered services entitling them to contributions. The
company makes contributions towards Provident Fund and Employee State Insurance as a
defined contribution retirement benefit fund for qualifying employees. The Provident Fund
Plan is operated by the Regional Provident Fund Commissioner. Under the scheme, the
Company is required to contribute a specified percentage of payroll cost, as per the statute,
to the retirement benefit schemes to fund the benefits. Employees State Insurance dues are
remitted to the Employees State Insurance Corporation.For retirement benefit plans, the cost
of providing benefits is determined using the projected unit credit method. Past service cost
is recognised in profit and loss in the period of a plan amendment.
2. Short-term and other long-term employee benefits
A liability is recognised for benefits accruing to employees in respect of wages and salaries,
annual leave and sick leave in the period the related service is rendered at the undiscounted
amount of the benefits expected to be paid in exchange for that service. Liabilities recognised
in respect of short-term employee benefits are measured at the undiscounted amount of the
benefits expected to be paid in exchange for the related service. For short term
(accumulating) paid absences, the company had made a provision in books based on the
closing value of the leave accumulation with respect to last drawn gross salary as per the
policy of the company.
2.7 Taxation
Deferred tax is recognized on temporary differences between carrying amounts of assets and
liabilities in the financial statements and the corresponding tax bases used in the computation
of taxable profits. Deferred tax charge or credit and the corresponding deferred tax liabilities or
assets are recognized using the tax rates that have been enacted or substantively enacted by
the Balance Sheet date. Deferred tax liabilities are generally recognized for all deductible
temporary differences. Deferred tax assets are recognized only to the extent there is reasonable
certainty that the assets can be realized in future.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and
reduced to the extent that is no longer probable that sufficient taxable profits will be available
to allow all or part of the assets to be recovered.
2.8 Cash and cash equivalents (for the purpose of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term
balances (with an original maturity of three months or less from the date of acquisition), highly
liquid investments that are readily convertible into known amounts of cash and which are subject
to insignificant risk of changes in value.
2.9 Use of Estimates
The preparation of the financial statements requires the Management to make estimates and
assumptions considered in the reported amounts of assets and liabilities (including contingent
liabilities) as of the date of the financial statements and the reported income and expenses like
useful lives of fixed assets, provision for doubtful receivables / advances, allowances for slow
moving inventories etc., during the reporting period. The management believes that the
estimates used in the preparation of the financial statements are prudent and reasonable. Future
results may vary from these estimates. Estimates and underlying assumptions are reviewed on an
on-going basis.
2.10 Inventories
The inventories of medicines are valued at the lower of cost or net realizable value. Cost is
determined on a First In First Out basis and includes freight, taxes, duties and other charges
incurred for bringing the goods to the present location and condition and is net of GST credit
wherever applicable. Due allowance is estimated and made for expired stocks, slow! non-moving
items, wherever necessary.
2.11 Property, Plant and Equipment
Property, Plant & Equipment are stated at cost less accumulated depreciation and accumulated
impairment losses. Cost includes taxes, duties, freight and incidental expenses relating to
acquisitions and bringing them to their intended use.
Depreciation is recognized so as to write off the cost of assets (other than freehold land and
properties under construction) less their residual values over their useful lives, using the straight-
line method. The estimated useful lives, residual values and depreciation method are reviewed at
the end of each reporting period, with the effect of any changes in estimate accounted for on a
prospective basis. An item of property, plant and equipment is derecognized upon disposal or
when no future economic benefits are expected to arise from the continued use of the asset. Any
gain or loss arising on the disposal or retirement of an item of property, plant and equipment is
determined as the difference between the sales proceeds and the carrying amount of the asset
and is recognised in profit or loss.
2.12 Impairment of Assets
The carrying amounts of assets are reviewed at each Balance Sheet date to determine whether
there is any indication of impairment of carrying amount of the Company's assets. If any
indication exists, an asset's recoverable amount is estimated. An impairment loss is recognized
whenever the carrying amount of the asset exceeds the recoverable amount.
2.13 Financial Instruments
Financial Assets and financial liabilities are recognised when a Company entity becomes a party
to the contractual provisions of the instruments. Financial assets and financial liabilities are
initially measured at fair value. Transaction costs that are directly attributable to the acquisition
or issue of financial assets and financial liabilities (other than financial assets and financial
liabilities at fair value through profit or loss) are added to or deducted from the fair value of the
financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs
directly attributable to the acquisition of financial assets or financial liabilities at fair value
through profit or loss are recognised immediately in Profit and Loss.
On the basis of past experience, Trade Receivables at the year-end are reviewed and the
amounts not likely to be received are written off in that year itself obviating the necessity for..
provision for bad and doubtful debts.
Financial Assets
The Company initially recognises financial assets on a trade date basis. The Company
derecognises a financial asset when the contractual rights to cash flows from the asset expires,
or it transfers the right to receive the contractual cash flows on the financial asset. Financial
assets and liabilities are off set and the net amount is presented in the balance sheet when, and
only when, the Company has legal enforceable right to offset the amounts and intends to settle
on a net basis or realise the asset and settle the liability simultaneously.
Financial Liabilities
The Company recognises financial liabilities on the date they are originated or on the trade date
at which the company becomes a party to contractual provisions of the instrument. The
Company de recognises a financial liability when its contractual obligations are discharged or
cancelled or expired.
Equity Instruments
An equity contract is any instrument that evidences residual interest in the assets of an entity
after deducting all of its liabilities. Equity instruments issued by the Company are recognised at
the proceeds received, net of direct issue cost.
2.14 Provisions and Contingencies
Provisions are recognized only where there is a present obligation as a result of past events and
when a reliable estimate of the amount of obligation can be made. Contingent liability is
disclosed for (i) Possible obligations which will be confirmed only by future events not wholly
within the control of the Company or (ii) Present obligations arising from past events where it is
not probable that an outflow of resources will be required to settle the obligation or a reliable
estimate of the amount of the obligation cannot be made. Contingent assets are not recognized
in the financial statements since this may result in the recognition of income that may never be
realized.
2.15 Earnings Per Share
Basic Earnings per Share (EPS) is calculated by dividing the net profit after tax for the year
attributable to equity shareholders by the weighted average number of equity shares outstanding
during the period. Diluted earnings per share is computed by adjusting the number of shares
used for basic EPS with the weighted average number of shares that could have been issued on
the conversion of all dilutive potential equity shares.
Dilutive potential equity shares are deemed converted as of the beginning of the year, unless
they have been issued at a later date. The diluted potential equity shares have been adjusted for
the proceeds receivable had the shares been actually issued at fair value i.e., average market
value of outstanding shares. The number of shares and potentially dilutive shares are adjusted for
share splits and bonus shares, as appropriate.
Apollo Home Healthcare Ltd
Notes forming part of the financial statements for the year ended 31 March 2019
Note —23:
1. Trade Receivables represent the debts considered good for which the Company holds no security
other than the personal security of the debtors.
2. Confirmation of balance of Receivables and Payables remains to be received and the balances are as
appearing in the Books of Accounts.
3. Other income includes:
Particulars 2018-19 2017-18

Rs. Rs.
Interest on Fixed Deposits 20,464 71,291
4. Audit Fees (Excluding Taxes)
Particulars 2018-19 2017-18

Rs. Rs.
For Statutory Audit 2,50,000 1,75,000
5. Expenditure in foreign currency Rs. Nil.
6. Earnings in foreign currency Rs. Nil.
7. Previous year's figures have been regrouped wherever required.
8. Deferred Tax
The Company has deferred tax assets of Rs.37, 55,669/- as at the year ended 31tMarch, 2019.
9. Related Party Disclosure
(a) Names of Related Parties and Nature of Relationships
For the year ended

Nature of Relationship
31March 2019
(i) Holding Company Apollo Hospitals Enterprise Limited
(ii) Individuals Exercising Significant (i) Mrs. Shobana Kamineni

Influence (ii) Mrs. Sangita Reddy
1.Western Hospitals Corporation (P) Limited

(iii)Subsidiary of Holding Company
2. Apollo Home Healthcare (India) Limited
1. Apollo Munich Health Insurance Company

(iv) Associate Company to Holding
Limited
Company
2. Indraprastha Medical Corporation Limited
(v) Enterprises over which key
managerial personnel and their 1. Apollo Sindoori Hotels Limited
relatives are able to exercise 2. Lifetime Wellness Rx International Limited
significant influence / control / 3. Keimed Private Limited
joint control
(vi) Joint Venture by Holding

Apollo Gleneagles Hospital Limited
Company
*Related Party relationships are as identified by the Management.
(b) Transactions carried out with related parties referred to above in the ordinary course of business
during the year.
Transactions for the

Closing Balance as on 31
year Apr'18 to
Particulars Related Party Mar 2019
Mar'19
Rs.
Rs.
Purchase of Medicines! Apollo Hospitals Enterprise
67,17,630 -48,51,446
Medicare Products Limited
AHEL Expenses 67,17,630 -48,51,446
Reimbursement of Other Apollo Hospitals Enterprise

30,39,591 -133,07,299
Expenses Limited
AHEL Income 30,39,591 -133,07,299

11% Fully Convertible Apollo Hospitals Enterprise
9392770 -267,70,856
Debentures - Interest Limited
AHEL Liabilities 93,92,770 -2,67,70,856
11% Fully Convertible Apollo Hospitals Enterprise

2,50,00,000 -720,00,000
Debentures - Principle Limited
Apollo Hospitals Enterprise
Shares of AHEL 2,50,00,000 -9,68,75,000
Limited
AHEL balance sheet items - -16,88,75,000
Western Hospitals
Unsecured Loan interest 44,63,438 -76,03,950
Corporation Pvt Ltd
Unsecured Loan Principal Western Hospitals
7,57,50,000 -
amount Corporation Pvt Ltd
Western Hospitals
Shares to Western 445,58,820 -445,58,820
Corporation Pvt Ltd
Shares to Western - Premium Western Hospitals
311,91,180 -311,91,180
Amount Corporation Pvt Ltd
Pre-employment medical Apollo Institute of Medical

58,800 -
check-up Sciences and Research
Apollo Munich Health

For GPI and GMC Insurance 21,10,899 -32,545
Insurance
For Food supply in Marketing
Apollo Sindoori Hotels 13,74,758 -8,79,307
events
Purchase of Medicines/
Keimed Private Limited 4,17,312 -1,18,401
Medicare Products
Towards Sale proceeds of
Apollo Home Healthcare -
Assets which were taken over -25,79, 114
nd Ltd- creditor
from AHHCL lND Ltd
Apollo Medskills Limited -
Training Cost - Room rent 9,440 -56,760
Chennai
Towards Amount Received for
lndraprashtha Apollo
Participating in Marketing 28,321 -15,066
Hospitals - Delhi
Events along with Hospital
Pre-Employment Medical Apollo Gleneagles Medical
1,01,668 -69,972
Check-up Centre- Kolkata
Other Related parties total 85,64,636 -8,71,05,114
Total as of 31-Mar-2019 1,42,79,366 -30,09,09,715

10. Current Year Figures have been rounded off to the nearest Rupees.
11. Approval of Financial Statements
The Board of Directors duly taking into account all the relevant disclosures made has approved
these financial statements in its meeting held on 6th May 2019.
In terms of our report attached. For and qp.-behalf • the Board of Directors
for P. GOPAL & ASSOCIATES
Firm Registration No. 00958S Sangitä R: ddy
Director
CHENNAI
600018
Partner
M.C. Bagavath Singh
Membership No: 21803 Harshad Reddy
Place: Chennai Director
Date : 6th May 2019
APOLLO
V1
I Weareyourfamily
Date: 06th May 2019
To,
P Gopal & Associates,
No 4, Poes Road, 4" Street, Teynampet, Chennai 600018
Sub: Certification of Going Concern-Apollo Home Healthcare Ltd.
Dear Sir,
We hereby certify that Apollo Home Healthcare is a Going Concern for the below reasons:
1. The Company was started in Mar 2014 with a new business concept of "Homecare"
2. Apollo Hospital is backing up fully and helping the company to grow by leaps & bounds by
providing support in terms of generating business & cash flows.
3. The Company has grown from less than Rs.1 Crore Business in FY 2014-15 to about Rs.36 Crores in
FY 2018-19.
4. The Company is maintaining Consolidated Break-even before Corporate Costs since Nov'18
5. All five cities i.e., Hyderabad, Chennai, Delhi, Kolkata & Bangalore achieved Break-even before
Corporate Costs in Mar'18 while Chennal continues to be positive after Corporate Costs for the
entire FY 2018-19
6. The growth of the company has been very consistent & encouraging as detailed below
Year Sales (Rs. Mn) Growth

FY 2014-15 9.50
FY 2015-16 59.43 526%
FY 2016-17 190.50 221%
FY 2017-18 266.22 40%
FY 2018-19 359.72 35%
7. Based on the above growth, the Company is confident of growing further and below is the
projections for next five financial years.
Projections (Rs. in Mn)

particulars
FY 19-20 FY 20-21 FY 21-22 FY 22-23 FY 23-24
Revenues 603.50 1,088.16 1,469.01 1,983.17 2,578.12
Growth YoY 69% 80% 35% 35% 30%
Variable Expenses 404.91 723.33 969.27 1,289.13 1,624.30
Contribution After Training Cost 198.59 364.82 499.75 694.04 953.82

Contribution % After Training Cost 33% 34% 34% 35% 37%
Fixed Cost 204.87 271.08 338.85 406.61 487.94

Corp. Off: #8-2-293/82/1/253-A, Plot No. 253/A, Road No.12, Venkateswara Colony. Banjara Hills, Hyderabad-500 0
Regd. Off :No.19 Bishop Gardens, Raja Annamalai Puram, Cbennai -600028 I Ph.No. 91 4428293333 Fax
Website: www.apollohomecare.com , Email : [email protected]
CIN:- U85100TN2014PLC095340
EBITDA (md. Corp office costs) -6.28 93.75 160.90 287.43 465.88
% EBITDA (mci. Corp office costs) -1% 9% 11% 14% 18%
For and on behalf of the Board of Director
U
Place: Chennai, Sangita R7dcfy Harshad Reddy
Date: 06-May-2019 Director Director
DIN: 00006285 DIN: 02364
Regd Office:
(CIN: U85100TN2014PLC095340)
3rd Floor, Ali Towers,
#55, Greams Road,
Thousand Lights, Chennai 600 006.

I ,4 HOMECARE
I
To,
APOLLO
We are your family
P. Gopal &Associates,
Chartered Accountants,
Chennai - 600 018.
This representation letter is provided in connection with your audit of the financial statements
of Apollo Home Healthcare Limited for the year ended 31st March, 2019 for the purpose
of expressing an opinion as to whether the financial statements give a true and fair view of
the financial position of Apollo Home Healthcare Limited as of 31st March, 2019 and the
results of its operations for the year then ended.
We acknowledge our responsibility for the preparation of the financial statements in

accordance with the accounting principles generally accepted in India, including the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014.
We confirm that a detailed assessment of the reporting requirements under the Schedule III
has been made by the Management and appropriate disclosures/presentation, as required
under the Schedule III, have been made in the financial statements. The previous year's
figures have been regrouped / reclassified wherever necessary to correspond with the current
year's classification / disclosure.
Classification of items in the Balance Sheet as current and non-current is on the basis specified
in the General Instructions for Preparation of Balance Sheet in the Schedule III.
Due consideration has been given to the requirements of the Accounting Standards and the
requirements of the statutory provisions in case of conflict with the Schedule III requirements
as specified in the Schedule III.
We confirm to the best of our knowledge and belief, and having made appropriate enquiries
of other officials of the company, the following representations:
• There have been no irregularities involving management or employees who have a

significant role in the accounting and internal control systems or that could have a
material effect on the financial statements. We also state that the internal control
procedures are commensurate with the size of the company and nature of the
business. No major weakness in the internal control procedures were noticed during
the year.

Corp. Off: #8-2-293/82/112 53-A, Plot No. 253/A. Road No.12, Venkateswara Colony, Banjara Hills, Hyderabad-500 034. •h 040-2360 6006
Regd. Off :No.19 Bishop Gardens, Raja Annamalai Puram, Cnnai -600028 Ph.No. 91 4428293333
I Fax No. 9144 28290795
Website : www.apollohomecare.com, Email: [email protected]
CIN:- U85100TN2014PLC095340
We acknowledge our responsibility of maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding the assets of the Company
and for preventing and detecting frauds and other irregularities; selection and
application of appropriate accounting policies; making judgments and estimates that
are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the financial statements that give a true and fair view and are free
from material misstatement, whether due to fraud or error.
• We have made available to you all books of account and supporting documentation
and all minutes of meetings of shareholders and the board of directors.
• All transactions have been recorded in the accounting records and are reflected in the
financial statements.
• All known, actual, or possible non-compliance with laws and regulations, together with
the actual or contingent consequences, which may arise there from, the effects of
which should be considered when preparing financial statements, have been disclosed
to you and have been appropriately dealt with by us in the financial statements.
• The effects of uncorrected misstatements, if any, are immaterial, both individually and
in the aggregate, to the financial statements as a whole.
• The company has complied with all aspects of contractual agreements that could have
a material effect on the financial statements in the event of non-compliance. There
has been no non-compliance with requirements of regulatory authorities that could
have a material effect on the financial statements in the event of non-compliance.
• The accounting policies which are material or critical in determining the results of
operations for the year or financial position are set out in the financial statements and
are consistent with those adopted in the financial statements for the previous year.
The financial statements are prepared on accrual basis.
• The results for the year were not materially affected by the following, except as
disclosed in the accounts:
a) Transactions of a nature not usually undertaken by the company;
b) Circumstances of an exceptional nature or non-recurring nature;
c) Charges or credits relating to prior years;
d) Changes in accounting policies.
• We confirm the completeness of the information provided regarding the identification

of related parties.
• The identity of, and balances and transactions with, related parties have been properly
recorded and, when appropriate, adequately disclosed in the financial statements.
• We have no plans or intentions that may materially alter the carrying value or
classification of assets and liabilities reflected in the financial statements.
• The company has satisfactory title to all assets and there are no liens or encumbrances
on the company's assets except charges created in favor of banks/financial institutions.
The company carries out verification of its fixed assets every year. No material
discrepancies were noticed during the verification. Title Deeds of all immovable
properties are in the name of the Company.
• The net book values at which fixed assets are stated in the balance sheet are arrived
at:
a) after taking into account all capital expenditure on additions thereto, but no
expenditure properly chargeable to revenue;
b) after eliminating the cost and accumulated depreciation relating to items sold,
discarded, demolished or destroyed;
c) After providing depreciation as prescribed in Schedule II to the Companies Act

2013 on fixed assets during the period.
Depreciation is provided on Straight Line Method on Buildings and Plant & Machinery
and on Written Down Value Method on other fixed assets at rates specified in Part C
of schedule II of The Companies Act, 2013.
• At the balance sheet date, there were no outstanding commitments for capital
expenditure.
• We have no plans to abandon lines of product or other plans or intentions that will
result in any excess or obsolete inventory, and no inventory is stated at an amount in
excess of its net realizable value since adequate provisions have been made in the
financial statements for non moving, Slow moving & near expiry inventory.
• Inventory is verified at reasonable intervals by the management except for the

inventories lying with the third parties, which have however, been confirmed by them
and the procedures adopted for physical verification is reasonable and adequate in
relation to size and nature of business. Proper records of inventories are kept. There
was no material discrepancies noticed during physical verification. At the balance sheet
date value of inventory in hand including goods in transit is as per Annexure 1.
• We have recorded or disclosed, as appropriate, all liabilities, both actual and

contingent, and have disclosed in the financial statements all guarantees that we have
given to third parties. There are no other contingent liabilities as at the balance sheet
date.
• There have been no events subsequent to year-end which require adjustment of or

disclosure in the financial statements or Notes thereto excepting those disclosed in the
Notes to the financial statements.
• Trade Receivables and Trade Payables as at the Balance Sheet date are subject to
confirmation. However, in the opinion of the Management all the Current Assets are
approximately of the value stated in books, if realized in the ordinary course of
business
We additionally confirm that:
• The Company does not have any branch office as defined under section 2(14) of the
Companies Act, 2013 for the Financial Year 2017-18 and does not require any
compliance in relation to the same.
• The Company has disclosed the impact of pending litigations on its financial position
in its financial statements.
• The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses.
• There has been generally no delay in transferring amounts, required to be transferred,

to the Investor Education and Protection Fund by the Company.
• No Directors of the company are disqualified from being appointed as directors under
section 164(2) of the Companies Act, 2013.
• There are no contributions made to any political party during the year.
• No loans have been granted to parties required to be listed in the register u/s 189 of
the Companies Act and br to companies under the same management.
• The management has assessed & reviewed the impairment of fixed assets (tangible
and intangible assets) as on 31st March, 2018. There is no impairment required for
Fixed Assets.
• The current investments as appearing in the Balance Sheet consist of only such
investments as are by their nature readily realisable and intended to be held for not
more than one year from the respective dates on which they were made. All other
investments have been shown in the Balance Sheet as 'Non-Current Investments'. In
accordance with the requirements of the Schedule III, the portion of the Non-Current
investment which is expected to be realized within twelve months from the Balance
Sheet date has been shown as current investment. Current investments have been
valued at lower of cost and fair value. Non-Current investments have been valued at
cost, except that any diminution other than temporary in their value has been provided
for in ascertaining their carrying amount.
• The company uses forward contracts to hedge its risks associated with foreign currency
fluctuations relating to firm commitments and forecasted transactions. The company
has not entered into forward exchange contracts which are intended for speculative
purpose.
• Based on information received from vendors, we confirm that there are no Micro, Small
and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises
Page 4 of 13
Development Act, 2006 to whom the Company owes dues on account of principal
amount together with interest arid accordingly no additional disclosures have been
made.
• Deferred Tax Assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available to realise these assets.
At each Balance Sheet date, the carrying amount of deferred tax assets is reviewed to
reassure realization.
• TDS Certificate to be issued by the company is downloaded from TRACES within the
time prescribed by the Income-tax Act, 1961.
• As per the amendment in Schedule II to the Companies Act, 2013 dated August 29,
2014 notified by the MCA, the requirement of Component Accounting is mandatory for
financial statements in respect of financial years commencing on or after April 1, 2015.
We represent that the same has been carried out by the company in accordance with
the said Schedule.
As required under section 143 (1) of the Companies Act, 2013 we confirm that:-
• The Company has not made any loans and advances on the basis of security.
• There are no transactions represented merely by book entries by the Company which
are prejudicial to the interests of the Company.
• Company does not have any shares, debentures or securities which have been sold at
a price less than that at which they were purchased.
• There are no loans and advances made by the Company which have been shown as
deposits.
• There are no personal expenses charged to the revenue account except as permitted
contractually.
• The Company has allotted shares under ESOP for which the entire consideration was
received in advance.
With respect to your Report under the Companies (Auditor's Report) Order 2016 we
confirm to the best of our knowledge and having made appropriate enquiries of other
officials of the company, the following representations:
• Company has not taken any deposits from public during the period covered under
audit. Further no order has been passed by the Company Law Board or National
Company Law Tribunal or Reserve Bank of India or any court or any tribunal against
the Company.
• There are no undisputed amounts remaining unpaid for over 6 months in case of any
statutory dues. Company is regular in depositing all the statutory dues as applicable.
• There are no disputed amounts as on balance sheet date.
Page 5 of 13
• Company has complied with the provisions of section 185 and 186 of the Act, in respect
of loans, investments, guarantees, and security given for the year under report.
• The maintenance of cost records has been prescribed by the Central Government
under section 148 (1) of the Companies Act, 2013 & Companies (Cost Records and
Audit) Rules, 2014, and the Cost Audit for the financial year 2017-18 will be conducted.
All prescribed cost records are maintained properly.
• The company has been regular in repayment of dues to Banks, Financial Institutions,&
Government during the year under audit.
• The company has not given guarantees for loans taken by others from banks or
financial institutions during the year. The guarantees given are within the powers of
Board and company is authorised to issue such guarantees through its Memorandum
of Association.
• The Company has not raised any money by way of initial public offer or further public
offer (including debt instruments). Term loans have been applied for the purposes for
which they were obtained.
• No Material Frauds committed on the company have come to our notice during the
year nor has the company committed any material fraud on others.
• The Company has taken requisite approvals mandated by the provisions of section 197
read with Schedule V to the Act, and managerial remuneration has been paid or
provided in accordance with the same.
• All transactions entered by the Company with the related parties are in compliance
with sections 177 and 188 of the Act, where applicable and the details have been
disclosed in the Financial Statements as per AS 18 etc., as required by the applicable
accounting standards.
• No preferential allotment or private placement of shares or fully or partly convertible

debentures has been made by the Company during the year under review.
• Company has not entered into any non-cash transactions with directors or persons
connected with him as specified under section 192 of the Act.
• The Company is not required to be required to be registered under section 45-IA of

the Reserve Bank of India Act, 1934.
• We also enclose herewith representation letter for Matters Relating to Audit of internal
financial controls over financial reporting as Annexure 2 and representation letter for
Reporting requirement on Fraud under Companies Act, 2013 as Annexure 3 duly
authorized by the respective persons.
We, the undersigned, confirm that we are authorized to sign this letter of representation on
behalf of the Company.
Page 6 of 13
V
Place: Chennai, Sangita Redc4 Harshad Reddy
Page 7 of 13
Annexure 1 —
Value of inventory in hand as at 31-Mar-2019
Particulars Amount in Rs
Inventory Stores & Stores
Hyderabad 1,68,163
Chennal 1,54,199
Delhi 1,56,678
Bangalore 1,62,180
Kolkata 1,79,019
Total (A) 8,20,239
Hyderabad - Other Inventory
INVENTORY BOOKS 4,860
INVENTORY BROUCHURES 83,265
INVENTORY GROOMING KITS 24,378
INVENTORY HOMECARE BAGS 23,040
INVENTORY PEPPER SPRAY 154
INVENTORY UNIFORMS 2,09,198
INVENTORY UNIFORMS APRONS 2,057
INVENTORY UNIFORM SHIRTS 29,767
Total (B) 3,76,719
Total Inventory - As on 31-Mar-2019 872,492
Place: Chennai, Sangita Reddy Harshad Reddy

Annexure 2 —
Management Representation Letter for Matters Relating to Audit of internal financial

controls over financial reporting
This representation letter is provided in connection with your audit of the internal financial
controls over financial reporting in the audit of Apollo Home Healthcare Limited ("the
Company") in conjunction with your audit of the standalone! consolidated financial statements
of the Company for the year ended March 31, 2019, for the purpose of expressing an opinion
as to whether the Company had, in all material respects, an adequate internal financial
controls system over financial reporting and the operating effectiveness of such controls in
accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting ("the Guidance Note") and the Standards on Auditing issued by the Institute of
Chartered Accountants of India (ICAl) and deemed to be prescribed by the Central
Government in accordance with Section 143(10) of the 2013 Act, to the extent applicable to
an audit of internal financial controls over financial reporting.
We confirm that to the best of our knowledge and belief, having made such inquiries as we
considered necessary for the purpose of appropriately informing ourselves:
1. We are responsible for establishing and maintaining adequate and effective internal
financial controls based on the internal control over financial reporting criteria
established by the Company considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants of India and the preparation
and presentation of the financial statements as set out in the terms of the audit
engagement in particular, the assertions to you on the internal financial controls in
accordance with the internal control over financial reporting criteria established by the
Company considering the essential components of internal control stated in the
Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued
by the Institute of Chartered Accountants of India.
2. We have performed an evaluation and made an assessment of the adequacy and

effectiveness of the company's internal financial controls and based on the internal
control over financial reporting criteria established by the Company considering the
essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls Over Financial Reporting issued by the Institute of
Chartered Accountants of India.
3. We have not used the procedures performed by you during the audit of internal
financial controls over financial reporting as part of the basis for our assessment of the
effectiveness of internal financial controls.
4. Based on the assessment carried out by us and the evaluation of the results of the
assessment, we conclude that the Company has adequate internal financial controls
system that was operating effectively as at the March 31, 2018.
Page 9 of 13
5. To the best of our knowledge and in our opinion, there are no deficiencies in the design
or operation of internal financial controls identified as part of management's
evaluation, resulting in material / significant impact on the financial statements.
6. To the best of our knowledge and in our opinion, there were no instances of fraud
resulting in a material misstatement to the company's financial statements and any
other fraud that does not result in a material misstatement to the company's financial
statements but involves senior management or management or other employees who
have a significant role in the company's internal financial controls.
7. There have been no communications from regulatory agencies concerning non-

compliance with or deficiencies in financial reporting practices.
8. We have provided you with:
• All information, such as records and documentation, and other matters that are
relevant to your assessment of internal financial controls
• Unrestricted access to those within the entity.
There are no other subsidiary companies, jointly controlled companies and associate
companies of the company to whom reporting under section 143(3)(i) is applicable and whose
auditors have not issued their report under section 143(3)(i) of the Act.
With respect to these components, we have provided to you the audit reports of the
component auditors, including their report under section 143(3)(i) of the Act for their
respective financial year under the Act that has been considered in the preparation of the
consolidated financial statements of the Company.
10. There are no changes in the internal financial controls system from March 31, 2018 till
the date of this representation letter.
K j
Place: Chennai, Sangita Red Harshad Reddy
Date:06-May-2019 Director Director
Page 10 of 13
Annexure 3
Management Representation Letter for Reporting requirement on Fraud
This representation letter is provided to you pursuant to Reporting requirement on Fraud

under section 143 (12) of Companies Act, 2013 and Rule 13 of the Companies (Audit and
Auditors) Rules, 2014, as amended by the Companies (Audit and Auditor) Amended Rules,
2015.
We acknowledge that because of the inherent limitations of an audit, together with the
inherent limitations of internal controls, there is an unavoidable risk that material
misstatements due to fraud or error may occur and not be detected, even though the audit is
properly planned and performed by the auditor in accordance with the Standards on Auditing.
We acknowledge our responsibility for the prevention and detection of fraud. Our
responsibility also includes informing you about any fraud detected and remedied by the
management, any incidence of fraud reported through the vigil mechanism or through any
other internal or external sources. We acknowledge that we are also responsible to take
appropriate action when a fraud is detected or reported though any of the sources.
In particular we confirm that we are responsible for the following:
a) Designing, implementing, and maintaining internal controls relevant to the preparation

and fair presentation of the financial statements which are free from material
misstatements, whether due to fraud or error.
b) To set up a vigil mechanism for reporting suspected fraud and administer the
mechanism effectively.
c) Take appropriate action to detect the fraud and wrongful gain or loss, if any, incurred
on account of the fraud.
d) Take appropriate action against the fraudsters.
e) Address the control weaknesses which were the root cause for fraud and strengthen
the internal control system.
We confirm the following representations considering the fact that no fraud is noted and
reported during the year:
1. There have been no communications from regulatory agencies concerning non-

compliance with or deficiencies in financial reporting practices.
2. We have disclosed to you all changes/deficiencies in the design or operation of internal

controls over financial reporting identified as part of our assessment, including
separately disclosing to you all such deficiencies that we believe to be significant
deficiencies or material weaknesses in internal controls over financial reporting.
3. We acknowledge our responsibilities for the implementation and operation of

accounting and internal control systems that are designed to prevent and detect fraud
and error. We have disclosed to you the results of our assessment of the risk that the
financial statements may be materially misstated as a result of fraud.
Page 11 of 13
4. We are not aware of any significant facts relating to any frauds or suspected frauds
known that may have involved
(i) Management;
(ii) Employees who have significant roles in accounting and internal control; or
(iii) Others.
5. To the best of our knowledge and belief, the Company has not made any improper
payments or payments which are illegal or against public policy.
6. The Company has complied with all aspects of contractual agreements which could
have a material effect on the financial statements in the event of non-compliance.
There has been no non-compliance with requirements of regulatory authorities that
could have a material effect on the financial statements in the event of non-
compliance.
7. We have no plans or intentions which may materially affect the carrying value or
classification of assets and liabilities reflected in the financial statements.
8. We have made available to you all books of account, supporting documentation and
minutes of all meetings of the shareholders and the Board of Directors and Committees
of the Board.
9. We have not withheld from you any relevant information that we are aware of and
would have an implication on the process of your responsibilities to report fraud under
the statute.
With effect from 1st April 2014, the provisions of the Companies Act, 2013 ('the Act') have
become applicable to the Company. We understand that Section 143(12) of the said Act read
with Rule 13 of the Companies (Audit and Auditors) Rules, 2014 requires the auditors to
report on fraud to the Board or the Audit Committee prior to reporting the same to the Central
Government. We are aware that the Board or the Audit Committee is required to consider the
report of the auditor and respond on the matter reported within 45 days of the date of the
report of the auditor.
Page 12 of 13
We acknowledge that your Reporting requirement on Fraud under Section 143(12) of the Act
is made in good faith to comply with the requirements of the law and, therefore, cannot be
considered as breach of maintenance of client confidentiality requirements or be subject to
any suit, prosecution or other legal proceeding since it is done in pursuance of the Act or of
any rules or orders made thereunder.
For and on behalf ofthe Board of Directors
Place: Chennai, Sanità Recfdy Harshad Reddy
Date:06-May-2019 Director Director
Page 13 of 13

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APOLLO

APOLLO HOME HEALTHCARE LIMITED

FIFTH ANNUAL REPORT

Apollo Home Healthcare Limited

Board of Directors and Management

Notice of the Meeting

Profit & Loss Account

Cash Flow Statement

NOTICE TO THE SHARE HOLDERS

Appointment of Mr. Shivram Sethuraman as Independent Director & Mrs. Indira

For and on behalf of thBoard of Directors

Place: Chennai Sangita Rildy

2. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING iS ENTITLED

EXPLANATORY STATEMENT AS REQUIRED UNDER SECTION 102(1) OF

About Mr. Shivrarn Sethuraman:

About Dr. Indira Jayakumar

1. FINANCIAL SUMMARY OR PERFORMANCE OF THE COMPANY

Revenue from Operations 359,734,409 266,288,521

2. REPORTING OF FINANCIAL STATEMENTS IN INDIAN ACCOUNTING

Shares issued in f/o. No. of Shares Notes

4. COMPULSORILY CONVERTIBLE DEBENTURES

The Company does not propose any amount to be transferred to reserves.

8. MATERIAL CHANGES AND COMMITMENTS

The Company has no subsidiary as on the date of this Balance Sheet.

10. DIRECTORS & KEY MANAGERIAL PERSONAL

11. NUMBER OF MEETING OF THE BOARD:

12. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER

13. RELATED PARTY TRANSACTION

14. DISCLOSURE OF INFORMATION AS REQUIRED UNDER SECTION

(i) CONSERVATION OF ENERGY

(ii) TECHNICAL ABSORPTION AND RESEARCH & DEVELOPMENT

Your Company has no activities relating to Technology Absorption and Research

(iii) FOREIGN EXCHANGE EARNINGS AND OUTGO

16. AUDITORS REPORT

18. DIRECTOR'S RESPONSIBILITY STATEMENT

d) The annual accounts have been prepared on a going concern basis.

19. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE

20. PARTICULARS OF EMPLOYEES

The Company is yet to adopt a Policy on prevention, prohibition and redressal of

22. EXTRACT OF ANNUAL RETURN

23. OTHER DISCLOSURES

The disclosures pertaining to (i) Corporate Social Responsibility Committee, (ii)

For and on behalf of the Board of Directors

Place: Chennai Sans ita Redv Harshad Reddy

Independent Auditors Report on Financial Statements

Report on the Audit of Standalone Financial Statements

Basis for Opinion

Facts related to going concern

Report on Other Legal and Regulatory Requirements

2. As required by Section 143(3) of the Act, we report that:

For P. GOPAL & ASSOCIATES,

Place: Chennai M.C.BAGAV 'TH SINGH

i) In respect of Fixed Assets

ii) In respect of Inventories

iii) In respect of Loans:

For P. GOPAL & ASSOCIATES,

Place: Chennal .C.BAGAVA H SINGH

Management's Responsibility for Internal Financial Controls

(3) Provide reasonable assurance regarding prevention or timely detection of unauthorized