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Thyrocare Think Thyroid Thyrocare Think Thyroid. Think Thyrocare. July 31, 2019 The National Stock Exchange of India Limited The Bombay Stock Exchange Ltd Exchange Plaza Phiroze Jeejeeboy Towers Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 051 Mumbai- 400 001 Dear Sirs/Madam, Sub: Notice of 19th Annual General Meeting of our company. This is to inform you that the 19th Annual General Meeting of the Company will be held at 03.00 P.M. on Saturday, August 24, 2019, at Hotel Yogi Midtown, Plot No. DX-12, TIC Industrial Area, Mumbai-Pune Road, Turbhe, Navi Mumbai-400 705 to transact the ordinary and special business set out in the Notice of the meeting. In this regard, pursuant to the Regulation 34 (I) (a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we are submitting herewith a copy of the Annual Report along with the Notice of the 19th Annual General Meeting, which is being sent to the Shareholders. We request you to kindly take the same on the record. Yours Faithfully, For Thyrocare Technologies Limited, Ramjee Dorai . Company Secretary and Compliance Officer Thyrocare Technologies Limited 9 D-37/1, TTC MIDC, Turbhe, Navi Mumbai -400 703, India � 022- 3090 0000 / 4125 2525 • [email protected] Cl) www.thyrocare com {CIN • l85110MH2000PLC123882 Annual Report 2018-19 Focussed. Committed. Tested. Contents Thyrocare – A Snapshot 02 Our Business Model 04 02-22 Our Business Segments 06 Corporate Delivering through Sound Strategy and Overview Strong Execution 08 Chairman’s Review 10 Focussed on Strengthening Business Model 12 Committed to Deliver in the Long Run 14 Tested Over the Years 16 Focussed on Leading with Operational Excellence and Technology 18 Focussed on Employee Efficiency and Motivation 19 Board of Directors 20 Corporate Information 22 Board’s Report 23 23-103 Corporate Governance Report 50 Statutory Management Discussion and Analysis 71 Reports Business Responsibility Report 94 Standalone Financial Statements 103 Please find the online version of 104-212 Consolidated Financial Statements 156 this report at http://investor.thyrocare.com/ Financial annual-report/ Statements 19th Annual General Meeting Notice 211 Focussed. Committed. Tested. These words encapsulate our vision and strategy for a better future, approach and attitude to values and our steadfastness amidst challenges. They capture how we started and built a successful business model. They provide a clear direction of where we are headed. As we work to grow our business that spans diverse healthcare segments and markets, we are focussed on nurturing our business model and undertaking dedicated efforts in the right direction. As we strive to create long-term value in our Company, we are committed to our beliefs, vision and mission to improve healthcare in India by making it affordable and accessible. As we look forward to a better future and live up to the expectations of our stakeholders, we take inspiration from our past to move forward with condence. At Thyrocare, we bring extraordinary focus and commitment to everything that we do backed by our strong technologies, infrastructure and manpower. Annual Report 2018-19 1 THYROCARE TECHNOLOGIES LIMITED Thyrocare – A Snapshot Promoting healthy living with affordable and accessible wellness and preventive care for bettering the lives of people. Thyrocare Technologies believes and works on the maxim that an ounce of prevention is worth a pound of cure by actively promoting the use of preventive diagnostic tests. Housing one of India’s largest and rst fully automated clinical chemistry laboratory, we offer bundled diagnostic packages that enables early identication of disorders necessary for effective and timely treatment. We have committed ourselves and built a business model based on lowest cost operations, backed by automation and advanced IT to ensure greater affordability. We serve laboratories, hospitals and individual patients through our advanced 2-lakh sq. ft. Centralised Processing Laboratory (CPL) and 9 Regional Processing Laboratories (RPLs) across select Indian cities. Our services are tested and trusted. Thyrocare diagnostic edge Advanced Accessible Affordable Deploys best IT, instrumentation Pan-India availability through a Amongst the lowest test prices in and automation infrastructure distributed network of agents, the industry owned laboratories and franchisees Dependable Scalable Portfolio 100% accuracy Target audience covers the entire Wide range of clinical preventive non-sick populace and wellness tests Fast Certied Average turnaround time of • ISO 9001:2008 ISO 9001:2008 20-24 hours for sample processing • NABL (National Accreditation Board for Testing and Calibration Laboratories) • CAP (College of American Pathologists) NABL (National Accreditation Board for Testing and Calibration Laboratories) CAP (College of American Pathologists) 2 Corporate Overview Statutory Reports Financial Statements 1,210 Employees 101.42 mn Investigations performed 571 Cities 6,624 Touchpoints 18.76 mn Samples processed ` 76.14 cr Free cash ows *All numbers pertain to 2018-19 Annual Report 2018-19 3 THYROCARE TECHNOLOGIES LIMITED Our Business Model Our business is built to facilitate speed, accuracy, volumes, affordability and scalability over the long run to deliver sustainable value for all stakeholders. That remains our focus, the bedrock of our commitment and the basis of our touchstone test. Our business activities Devise test Collect Overnight Deliver packages samples Transport testing results We devise We collect and Collected samples Samples arriving Results are attractive test aggregate samples are sent to the at CPL/RPL are delivered the next packages at very from laboratories, nearest RPL or processed overnight day online and affordable rates hospitals and CPL depending via mail individuals through upon the test/ our network of distance through a agents combination of air or road transport 4 Corporate Overview Statutory Reports Financial Statements Creating value for all stakeholders Wellness Sustained business Value to to customers to partners shareholders (B2C-Patients) (B2B-Laboratories and Hospitals) Our business is distinguished Our industry-dening ‘Aarogyam’ The popularity of our economical by zero-debt, strong upfront brand provides multiple proles test packages ensures sustained cash-ows and high operating of 30-40 metabolic tests at business. This, coupled with margins. We continually invest economical prices, facilitating higher margins offered to partners, in new businesses and scale early detection of lifestyle-related ensures continued protable existing ones to create enhanced disorders, thus ensuring wellness growth. value and ensure long-term of individuals. sustainability. Reaching out to India We have a strategic, well-distributed presence that ensures pan-India accessibility. Our CPL (Central Processing Laboratory) is located in Navi Mumbai, which is also our headquarters. Our RPLs in New Delhi, Bhopal, Kolkata, Hyderabad, Coimbatore, Bengaluru, Patna, Mumbai and Chennai facilitate access to the north, south, east, west and central India. Annual Report 2018-19 5 THYROCARE TECHNOLOGIES LIMITED Our Business Segments Expanding our portfolio to establish relevancy amongst more people, while driving business sustainability. The test of our focus and commitment to our business is our sustained ability to devise, roll out and popularise diagnostic packages that resonate with the health and wellness agenda of people. Our intent is to increase spends on prevention and thereby unburden people from the need for expensive medical treatments. Nueclear Healthcare Limited (NHL) Our fully-owned subsidiary, NHL, undertakes cancer-related diagnostic NUECLEAR DIFFERENTIATION testing. It has a total of 12 centres NHL’s fusion imaging technology (PET-CT) helps in: (6 owned and 6 franchised) spread • Determining the stage of cancer growth and the expected effectiveness of across Navi Mumbai, Delhi, Hyderabad, chemotherapy and radiation treatments Surat, Raipur, Vadodara, Mumbai, • Deciding upon customised course of treatment Jaipur, Aurangabad, Nashik, Bengaluru and Coimbatore. We provide 18F-FDG • Detecting the post treatment recurrence of cancer (FluoroDeoxyGlucose) whole body PET- CT Imaging service at the lowest prices in the industry to encourage oncologists to recommend patients likely to benet Future Strategic direction from investigations. • Focus and commitment to scale up existing centres’ operations to greater capacity The initiative epitomises our efforts utilisation, before new capex investment to make healthcare affordable and • Build market by undertaking programmes to spread awareness and knowledge accessible. among general practitioners and specialists In 2018-19, NHL conducted 29,274 18F-FDG PET-CT Imaging scans. Its revenues increased by 33% to ` 32.64 Crore, contributing 8.1% to the overall revenues. 6 Corporate Overview Statutory Reports Financial Statements Focus TB TB is a life-threatening disease, making PCR TECHNOLOGY DIFFERENTIATION its early diagnosis extremely critical. This • Inexpensive and rapid detection of diseases for timely prevention, treatment is more so in India where every year and control 28 lakh people develop TB, while over • Specic, sensitive and rapid technique for identifying pathogens and 4 lakh people die of it and an estimated monitoring treatment in infectious agents 40% of the population continue to suffer from Latent TB. Despite its seriousness, • Vital research tool there are no branded players operating •
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