262 Max Healthcare Institute Limited Annual Report 2022-23
Standalone Balance Sheet
as at March 31, 2023
(INR in Lakhs)
As at As at
Particulars Note
March 31, 2023 March 31, 2022
ASSETS (Refer Note 31.19)
Non-current assets
Property, plant and equipment 4 88,632 82,631
Right-of-use assets 5 9,826 12,826
Capital work-in-progress 6 5,703 1,406
Goodwill 7 1,31,935 1,31,935
Other intangible assets 8 2,18,071 2,21,910
Intangible assets under development 8A 4,582 4,619
Investments in subsidiaries 9 1,47,423 1,44,650
Financial assets
(i) Investments 10(i) 51 51
(ii) Trade receivables 10(ii) 10,284 10,773
(iii) Loans 10(iii) 43,811 49,231
(iv) Other financial assets 10(iv) 19,265 26,136
Income tax assets (net) 11 2,929 5,297
Other non-current assets 12 15,916 18,467
Total non-current assets 6,98,428 7,09,932
Current assets
Inventories 13 2,994 2,466
Financial assets
(i) Trade receivables 14(i) 14,029 27,052
(ii) Cash and cash equivalents 14(ii) 1,315 21,400
(iii) Bank balance other than (ii) above 14(iii) 1,21,831 17,251
(iv) Loans 14(iv) 1,689 1,170
(v) Other financial assets 14(v) 1,159 996
Other current assets 15 588 909
Total current assets 1,43,605 71,244
TOTAL ASSETS 8,42,033 7,81,176
EQUITY AND LIABILITIES
Equity
Equity share capital 16 (i) 97,092 96,961
Other equity 16 (ii) 6,07,119 5,34,177
Total equity 7,04,211 6,31,138
Liabilities
Non-current liabilities
Financial liabilities
(i) Borrowings 17 42,885 38,240
(ii) Lease liabilities 18 7,232 13,902
Provisions 19 1,990 2,038
Deferred tax liabilities (net) 23 41,375 65,661
Other non-current liabilities 20 222 274
Total non-current liabilities 93,704 1,20,115
Current liabilities
Financial Liabilities
(i) Borrowings 17 2,357 2,767
(ii) Lease liabilities 21(i) 878 643
(iii) Trade payables 21(ii)
(a) Total outstanding dues of micro enterprises and small enterprises 68 165
(b) Total outstanding dues of creditors other than micro enterprises and 21,911 19,296
small enterprises
(iv) Other financial liabilities 21(iii) 13,603 3,064
Other current liabilities 22 3,476 2,326
Provisions 19 1,825 1,662
Total current liabilities 44,118 29,923
Total liabilities 1,37,822 1,50,038
TOTAL EQUITY AND LIABILITIES 8,42,033 7,81,176
The accompanying notes are integral part of these standalone financial statements 1-31
As per our report of even date attached
For DELOITTE HASKINS & SELLS For and on behalf of the Board of Directors of
Chartered Accountants MAX HEALTHCARE INSTITUTE LIMITED
(Firm’s Registration No. 015125N)
RASHIM TANDON ABHAY SOI
(Partner) (Chairman and Managing Director)
Membership No: 95540 DIN : 00203597
YOGESH KUMAR SAREEN DHIRAJ ARORAA
(Chief Financial Officer) (Company Secretary)
ICAI Membership Number: 087383 Membership Number: A28079
Place : New Delhi
Date : May 16, 2023
Company Overview Statutory Reports Financial Statements 263
Standalone Statement of Profit and Loss
for the year ended March 31, 2023
(INR in Lakhs)
Year ended Year ended
Particulars Note
March 31, 2023 March 31, 2022
(Refer Note 31.19)
I Revenue from operations 24 1,90,466 1,77,536
II Other income 25 14,417 12,812
III Total income (I + II) 2,04,883 1,90,348
IV Expenses
Purchase of drugs, consumables and implants etc. 35,442 44,616
Increase in inventories of drugs, consumables and implants etc. (528) (317)
Employee benefits expense 26 37,225 37,143
Professional and consultancy fee 36,994 31,486
Finance costs 27 5,191 5,893
Depreciation and amortization expense 28 11,321 11,196
Other expenses 29 22,924 20,282
Total expenses 1,48,569 1,50,299
V Profit before tax (III - IV) 56,314 40,049
VI Tax expense/(credit)
Current tax 23 11,193 6,494
Deferred tax (credit)/charge 23 (24,310) 403
Total tax (credit)/expense (13,117) 6,897
VII Profit for the year (V - VI) 69,431 33,152
VIII Other comprehensive income
Items that will not be reclassified to profit or loss
Re-measurement of defined benefit plan 31.02 94 116
Income tax effect on above 23 (24) (29)
Total other comprehensive income for the year, net of taxes 70 87
IX Total comprehensive income for the year (VII+VIII) 69,501 33,239
X Earnings per equity share 31.11
(Equity shares of par value INR 10 each)
Basic (INR) 7.16 3.43
Diluted (INR) 7.15 3.42
The accompanying notes are integral part of these standalone financial statements 1-31
As per our report of even date attached
For DELOITTE HASKINS & SELLS For and on behalf of the Board of Directors of
Chartered Accountants MAX HEALTHCARE INSTITUTE LIMITED
(Firm’s Registration No. 015125N)
RASHIM TANDON ABHAY SOI
(Partner) (Chairman and Managing Director)
Membership No: 95540 DIN : 00203597
YOGESH KUMAR SAREEN DHIRAJ ARORAA
(Chief Financial Officer) (Company Secretary)
ICAI Membership Number: 087383 Membership Number: A28079
Place : New Delhi
Date : May 16, 2023
264 Max Healthcare Institute Limited Annual Report 2022-23
Standalone Statement of Changes in Equity
for the year ended March 31, 2023
A) Equity share capital
(INR in Lakhs)
Particulars Numbers Amounts
Equity shares of INR 10 each issued, subscribed and fully paid
Balance as at April 1, 2021 96,59,45,006 96,595
Add: Shares issued on exercise of employee stock options [refer note 16(i)] 36,68,449 366
Balance as at March 31, 2022 96,96,13,455 96,961
Add: Shares issued on exercise of employee stock options [refer note 16(i)] 13,09,370 131
Balance as at March 31, 2023 97,09,22,825 97,092
B) Other equity
(INR in Lakhs)
Other
Reserves and surplus comprehensive
income
Share Total Other
Capital Share options Retained
Application Securities Defined benefit equity
Reserves outstanding earnings
Money pending premium obligation
Particulars [Refer account [Refer
allotment [Refer note [Refer note
note [(Refer note note
[Refer note 16(ii)] 16(ii)]
16(ii)] 16(ii)] 16(ii)]
16(ii)]
Balance as at April 1, 2021 (refer note 31.19) - 510,481 6,529 2,651 (22,113) (3) 497,545
Profit for the year - - - - 33,152 - 33,152
Other comprehensive income for the year - - - - - 87 87
Employees stock options compensation expenses - - - 3,393 - - 3,393
Transfer on account of exercise of stock options - 3,832 - (3,832) - - -
Balance as at March 31, 2022 (refer note 31.19) - 514,313 6,529 2,212 11,039 84 5,34,177
Profit for the year - - - - 69,431 - 69,431
Other comprehensive income for the year - - - - - 70 70
Application money received during the year 5 - - - - - 5
Employees stock options compensation expenses - - - 3,436 - - 3,436
Transfer on account of exercise of stock options - 1,490 - (1,490) - - -
Balance as at March 31, 2023 5 515,803 6,529 4,158 80,470 154 607,119
The accompanying notes are integral part of these standalone financial statements 1-31
As per our report of even date attached
For DELOITTE HASKINS & SELLS For and on behalf of the Board of Directors of
Chartered Accountants MAX HEALTHCARE INSTITUTE LIMITED
(Firm’s Registration No. 015125N)
RASHIM TANDON ABHAY SOI
(Partner) (Chairman and Managing Director)
Membership No: 95540 DIN : 00203597
YOGESH KUMAR SAREEN DHIRAJ ARORAA
(Chief Financial Officer) (Company Secretary)
ICAI Membership Number: 087383 Membership Number: A28079
Place : New Delhi
Date : May 16, 2023
Company Overview Statutory Reports Financial Statements 265
Standalone Statement of Cash Flow
for the year ended March 31, 2023
Accounting policy
Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with
investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.
The Company considers all highly liquid investments that are readily convertible to known amounts of cash to be cash equivalents
(INR in Lakhs)
Year ended Year ended
Particulars
March 31, 2023 March 31, 2022
(Refer Note 31.19)
Cash flows from operating activities
Profit before tax 56,314 40,049
Adjustments to reconcile profit before tax to net cash from operating activities:
Depreciation on property, plant and equipment 5,356 5,017
Depreciation on right of use assets 1,636 1,625
Amortization of intangible assets 4,329 4,554
Income on modification/termination of lease under Ind AS 116 (17) (60)
Loss on foreign exchange fluctuation (net) 24 15
Employee stock option scheme expense - equity settled 2,887 3,142
Provision for doubtful advances and doubtful debts written back (net) (75) (820)
Bad debts and debit balances written off 448 873
(Gain)/loss on sale/disposal of property, plant and equipment (net) (66) 2
Unclaimed balances and excess provisions written back (1,078) (2,033)
Finance income (12,059) (10,012)
Interest on lease liability 1,238 1,503
Interest on debts and borrowings 3,526 3,981
Gain on derivative instruments - (74)
Operating cash inflow before working capital changes 62,463 47,762
Adjustments for (increase)/decrease in operating assets
Inventories (528) (317)
Trade receivables 13,345 4,545
Other financial assets (647) (6,128)
Other current and non current assets (85) 627
Adjustments for increase/(decrease) in operating liabilities
Trade payables and other financial liabilities 2,617 1,820
Other current and non-current liabilities 1,098 490
Provision for gratuity and Compensated Absences 209 220
Cash generated from operating activities 78,472 49,019
Income taxes paid (net) (8,825) (4,283)
Net cash generated from operating activities (A) 69,647 44,736
Cash flows from investing activities
Purchase of property, plant and equipment, intangible assets, capital work-in-progress, (12,050) (37,099)
capital creditors and capital advances
Proceeds from sale of property, plant and equipment 283 154
Loan given to subsidiaries and other healthcare service providers (7,655) (6,564)
Loan repayment by subsidiaries and other healthcare service providers 10,365 2,000
Amount received from Haryana Shehri Vikas Pradhikaran "HSVP" on unilateral 9,971 -
cancellation of allotment of land (refer footnote 4.04)
Bank deposit against amount received back from HSVP (refer footnote 4.04) (9,681) -
Investment in bank deposits (having original maturity of more than three months) (net) (86,338) (17,107)
Acquisition of/investment in shares of subsidiaries (2,224) (18,468)
Interest income received 13,044 10,119
Net cash flows used in investing activities (B) (84,285) (66,965)
266 Max Healthcare Institute Limited Annual Report 2022-23
Standalone Statement of Cash Flow
for the year ended March 31, 2023
(INR in Lakhs)
Year ended Year ended
Particulars
March 31, 2023 March 31, 2022
(Refer Note 31.19)
Cash flows from financing activities
Proceeds from issuance of equity share capital including security premium 131 366
Proceeds from share application money 5 -
Proceeds from non-current borrowings 9,358 347
Repayments of non-current borrowings (4,713) (11,422)
(Repayments of)/proceeds from short-term borrowings (net) (420) 860
Principal payment/pre-payment of lease liabilities (5,054) (735)
Interest payment on lease liabilities (1,238) (1,503)
Interest on debts and borrowings paid (3,516) (4,061)
Net cash flow used in financing activities (C) (5,447) (16,148)
Net decrease in cash and cash equivalents (A + B + C) (20,085) (38,377)
Cash and cash equivalents at the beginning of the year [refer note 14(ii)] 21,400 59,777
Cash and cash equivalents at the end of the year [refer note 14(ii)] 1,315 21,400
Components of cash and cash equivalents:
Balances with banks on current accounts 1,007 477
Bank deposits with original maturity of three months or less - 20,674
Cheques, draft on hand 231 135
Cash on hand 77 114
Total cash and cash equivalents [refer note 14(ii)] 1,315 21,400
The accompanying notes are integral part of these standalone financial statements 1-31
As per our report of even date attached
For DELOITTE HASKINS & SELLS For and on behalf of the Board of Directors of
Chartered Accountants MAX HEALTHCARE INSTITUTE LIMITED
(Firm’s Registration No. 015125N)
RASHIM TANDON ABHAY SOI
(Partner) (Chairman and Managing Director)
Membership No: 95540 DIN : 00203597
YOGESH KUMAR SAREEN DHIRAJ ARORAA
(Chief Financial Officer) (Company Secretary)
ICAI Membership Number: 087383 Membership Number: A28079
Place : New Delhi
Date : May 16, 2023
