Dear Shareholders,

It gives me great pleasure to welcome you to the 41st Annual General Meeting of our Company. Let me present before you the Annual Report for the year 2023-24 consisting of the Financial Reports together with Audit report and C&AG comments thereof

HSCC (India) Limited (HSCC) is currently a wholly-owned subsidiary of NBCC (India) Limited and under the aegis of Ministry of Housing & Urban Affairs. HSCC was set up in 1983 with a mission to provide consulting services, from concept to commissioning, to the Healthcare Sector in India. Since inception, HSCC has steadily progressed and grown during the years. The Company has always been a profit-making organization, which is a strong validation of its capabilities and strengths.

Over the years, HSCC has created a special niche in Healthcare Consulting. Its comprehensive expertise includes Hospital Planning, Design, detailed Engineering, Project Management, Quality Control as well as Procurement, Supply, Installing and Commissioning of Medical Equipment. HSCC is capable of providing end-to-end multi-disciplinary support in healthcare, from feasibility study and tender documentation to procurement and project management encompassing civil, electrical, IT and auxiliary areas.

During the year, HSCC has secured the following major new projects:-

PM-ABHIM Project in J&K, Homeopathy Hospital & College at Jalgaon, CCU of PGIMER, Chandigarh, Furniture & Equipment for Pt DDU Univ of Health Sciences Kutail, Haryana, Furniture & Equipment for Bhiwani and Mahendragarh, Govt of Haryana, Supply of Equipment for mental laboratory at Mumbai, Construction of hostel/ residential blocks at AIIMS Guwahati, Construction of New OPD Block at Masjid Moth AIIMS New Delhi, Advanced Eye Centre at PGIMER Chandigarh, 600 Bedded General Hospital at Kolhapur, DMER, Maharashtra etc

Following are the major On-going Domestic projects during the year:-

AIIMS Rajkot, GMC Jalgaon, Common Laboratory Complex at NIMHANS Bangalore, TCCC Goa, New Medical College at Dausa, Alwar, Nagaur, Banswara (Rajasthan), Vertical Expansion Blocks at AIIMS (New Delhi), Waiting Hall at UG Parking at AIIMS (Delhi) etc

Major On-going International Projects

Include the Procurement & Supply of Medicine to Republic of Cuba and the Republic of Syria for MEA (Govt of India), and the Construction of Mediclinics at Bel Air, Stanley, Quartier Militaire in Mauritius. Other projects in Mauritius include the Construction of New Eye Hospital at Moka, a Renal Transplant Unit at J. Nehru Hospital, Area Health Centers at Cap Malheureux, New Grove, and a Community health centre at St Francois.

New Business Initiatives during the year 2023-24

• Establishing a world class & most advanced Robotic Clinical Testing Laboratory and state of the art Robotic Rehabilitation centre under profit sharing partnership.
• Providing services for comprehensive maintenance of Bio-Medical Equipment in various states.
• Comprehensive Operation and maintenance of Healthcare Facilities in India & Overseas.
• Exploring possibilities for complete management & running of hospitals along with selected private partners on a revenue sharing basis.
• Providing Medical, para-Medical & other trained manpower to overseas countries under Govt. of India Initiatives.
• Comprehensive e-Health Solutions at National & State Government Level.
• Test-to- Treat Arogya Yojna, creating additional beds in various state on BOMT mode.
• Setting up Pharmacies in State/Central Govt. Hospitals for providing affordable medicine to general Public.
• Gap Analysis & Supply of skilled manpower to AIIMS like Institutes.
• Setting up of modern State of Art Diagnostic Labs in State /Central Govt. Hospitals.

Review of Financial Growth

As you would have seen in the Annual Report of FY 2023-24, the performance is remarkable.I am pleased to place before the shareholders that during the Financial Year 2023-24, the total Income achieved is Rs. 1,397.02 crores as compared to Rs. 1,226.14 crores (Re-stated) in the previous year. The Company posted pre-tax profit of Rs.54.62 crores as against Rs. 23.39 crores during previous year. With your support, the Company has performed excellently.

Dividend

I am pleased to inform you that HSCC has proposed a Final Dividend of Rs. 660/- per paid-up equity share capital of Rs. 100/- each (i.e. 660 %) on the Equity Share Capital of the Company to Shareholders for approval. This is the 39th consecutive year that HSCC has declared the dividend.

MOU

Top Management is striving to achieve sustained growth in turnover as well as in pre-tax profits continually through strategic interventions like cost-control, optimum utilization of resources and system improvements.

The Company has achieved “Very Good” Rating under the Memorandum of Understanding (MoU) for the year 2022-23. Further, based on results, for the year 2023-24, the Company also expects to get an “Excellent” rating as per MoU evaluation.

Corporate Social Responsibility (CSR)

Being in the field of Healthcare, all the activities and operations of HSCC have been indirectly dedicated towards social responsibility. During the year 2023-24, HSCC has contributed atotal of Rs. 50.25 lacs as CSR Expenditure, out of which Rs. 8.35 Lacs was spent towards Purchasing a Tractor for the Cultivation of Medicinal plants for Parampujya Madhav Gouvigyan Anusandhan Ajmer. Further, Rs. 16.70 lacs was given to M/s Arpan Seva Sansthan for addressing nutritional gap in tribal communities. Rs. 22.30 Lacs was given to Special Bharat Olympic for organizing Awareness, Training, Nutrition and Health Workshops and establishing Special Child Development Centres (SCDC) for Special Children. The balance amount of Rs. 2.90 lacs was given to the PM Care Fund.

Growth Vision

In order to develop into a world class Consultancy Organization, the thrust is on diversifying and expanding the operations. We aim to remain a leading consulting company by:

• Providing value-added, innovative and integrated services for enhancing healthcare in India and overseas,
• Leveraging our core competence in other infrastructure projects
• Providing an invigorating and enabling work environment to its professional employees.

Corporate Governance

The philosophy of the Company is to ensure transparency in its dealings and compliance of country’s laws and regulations in order to promote ethical conduct of business. i.e.observing, transparency, integrity, professionalism, accountability and proper disclosure

Acknowledgement

In conclusion, on behalf of the Board of Directors and myself, I extend sincere thanks for the valuable guidance, support and cooperation extended to the Company by our Parent Company NBCC (India) Limited, Ministry of Housing & Urban Affairs, Ministry of Health & Family Welfare, Ministry of External Affairs and stakeholders. I thank all our esteemed shareholders for their continued support, whose trust and confidence are the pillars of strength in our entire endeavor.

I also place my sincere thanks to all our valuable clients - Ministry of Health & Family Welfare, Ministry of External Affairs, AIIMS Delhi, PGI Chandigarh, Govt of Mauritius, Govt. of Punjab & Haryana, Govt. of Maharashtra, Govt. of Himachal Pradesh, Govt. of Chhattisgarh, Govt. of Uttar Pradesh, Govt. of Rajasthan and other Business Associates for the continuous support and reposing confidence in us. The Company, as always, will remain focused on customer satisfaction. I would also like to thank the CAG, Statutory Auditors and Internal Auditors of the Company for their valuable co-operation. I place on record the appreciation to the hardwork, commitment and unstinting efforts put by the Company’s employees at all levels. In return to your cooperation and support extended to me, I promise to take the company to new and commanding heights.

Thank You