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Annual Report 2019-20

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Annual Report 2019-20 ANNUAL REPORT 2019-20 TRANSFORMING FOR A NEW TOMORROW ACROSS THE PAGES 01-32 CORPORATE OVERVIEW 33-109 Transforming for a New Tomorrow 01 STATUTORY REPORTS Our Approach to Reporting 02 Metropolis at a Glance 04 Management Discussion and 33 COVID-19 Highlights 06 Analysis Report Chairman’s Message 08 Board’s Report 38 Letter from MD’s Desk 10 Corporate Governance 78 Business Model 12 Business Responsibility Report 103 Financial capital 14 Service capital 16 Intellectual capital 18 Human capital 20 Relationship capital 22 110-255 Natural Capital 24 FINANCIAL STATEMENTS Board of Directors 26 Leadership Team 29 Standalone 110 Awards & Recognition 30 Consolidated 180 Corporate Information 32 Investor information Please fi nd our online version at https://www.metropolisindia.com/about-metropolis/investors/ BSE Code 542650 NSE Symbol METROPOLIS Or simply scan to download Bloomberg Code METROHL:IN AGM Date Wednesday, 16th September 2020 AGM Mode Video Conferencing (VC) and Other Audio Visual Means (OAVM) Disclaimer: This document contains statements about expected future events and fi nancials of Metropolis Healthcare Limited, which are forward looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is signifi cant risk that the assumptions, predictions, and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forward- looking statements as a number of factors could cause assumptions, actual future results and events to differ materially from those expressed in the forward-looking statements. Accordingly, this document is subject to the disclaimer and qualifi ed in its entirety by the assumptions, qualifi cations and risk factors referred to in the Management Discussion and Analysis of this Annual Report. 4 METROPOLIS HEALTHCARE LTD CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS TRANSFORMING FOR A NEW TOMORROW A crossroad is an opportunity to redefi ne our choices while making a shift in our perspective. For the last few months, healthcare institutions in India have been found at the forefront of a challenging situation. The sudden outbreak of COVID-19 pandemic has brought everyone to a point of transformation. We, at Metropolis Healthcare Limited (‘Metropolis’ or ‘the Company’), promptly responded to this stimulus by adapting to the change. We transformed and adapted not to cope up, but to win. We redesigned to quickly merge with the change, transforming ourselves for a new tomorrow. The current scenario foretells two changes for the pathology industry: Consolidation of path labs in the nation and consumers’ keen interest in good health and overall wellness. Metropolis is strengthening its team for the next big leap. We are building our digital capacities, automating processes, and enhancing our effi ciencies and productivity for swiftly transitioning into the future. We are well-poised to lead this new era of change while keeping safety, quality, and empathetic patient services at the core of our business. ANNUAL REPORT 2019-20 1 OUR APPROACH TO REPORTING 2 METROPOLIS HEALTHCARE LTD CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS ABOUT THIS REPORT This Report is aligned with the International Integrated Reporting Council’s (IIRC) globally accepted framework. Metropolis Healthcare Limited (‘Metropolis’ or ‘the Company’) aims to strengthen its communication with the stakeholders with respect to material activities, value creation process, business highlights and future prospects. The Report also follows and adopts guidelines, as laid out by SEBI with respect to Annual Report. SCOPE AND BOUNDARY This Annual Report comprises all the relevant aspects of operations of Metropolis. It also consists of the desired statutory disclosures and audited annual fi nancial statements for the year ended 31 March 2020. All the subsidiaries are included in the consolidated fi nancial information. FRAMEWORKS The content and structure of our Annual Report is guided by the framework endorsed by the Integrated Reporting <IR> Council. Besides, the Company fully complies with the NSE and BSE listings as well SEBI Compliances. It is committed to embracing best practices in reporting to ensure transparency and better stakeholder engagement. SNAPSHOT OF KEY PERFORMANCE, 2019-20 ` 856 Crores, up 12.6% ` 232 Crores REVENUE EBIDTA ` 128 Crores 56%, Up 400 bps PAT REVENUE SHARE OF B2C IN FOCUSED CITIES 10.00mn, up 11.3% 19.62mn, up 15.7% PATIENT VISITS TESTS CONDUCTED Note: EBIDTA: Earnings before Interest, Depreciation, Taxes and Amortisation, PAT: Profi t after Tax, B2C: Business to Customers ANNUAL REPORT 2019-20 3 METROPOLIS AT A GLANCE Metropolis is India’s leading ourselves as one of the most trusted and leading brands in the Indian diagnostic industry. We offer diagnostic company with an exhaustive test repertoire comprising of the a presence across India most routine tests to semi-specialised tests and and Africa. super-specialised tests. Transforming and upgrading ourselves to the tune of new trends and changes, Incorporated in the year 1981, Metropolis has built the today we have over 4,100 tests and test profi les to foundation of its success on the pillars of accuracy, offer. Various test combinations, specifi c to a disease reliability, and consistency. With the perfect mix of or disorder and wellness profi les used for health and these pillars, we have been successful in establishing fi tness screening form a part of our service profi le. With Over Our Network Comprises And 40 124 2,133 Years of Experience Clinical Laboratories Service Network We Have Laboratories With Presence Across Which are Global and Across19 220 National Indian States Cities In Terms of Quality Accredited With More Than With a And Serving Customers through Leadership 4,000 Position 10,000+ Tests and Profi les In Western & Southern India Patients Touch Points Including And ~ 9,000 598 Pick-up Points Assisted Referral Centres (ARC) All fi gures as on 31 March 2020 4 METROPOLIS HEALTHCARE LTD CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS METROPOLIS EDGE ADVANCED AFFORDABLE PORTFOLIO Deploys best IT which Provides tests at Wide range of clinical allows fully integrated affordable prices with preventive and wellness and automated quality and patient tests, including highly processes experience score at specialised and 91% as per (NPS) esoteric assays ACCESSIBLE NABL ACCREDITATION CERTIFIED PAN-India availability More than 75% reports are Mumbai Lab is through a distributed generated by accredited CAP accredited network and owned labs NABL Accreditation since 2005 laboratories follows ISO-15189 Standard and is recognised by ILAC & APLAC *CAP: College of American Pathologists. *NABL: National Accreditation Board for Testing and Calibration Laboratories VISION To be a respected healthcare brand trusted by clinicians, patients and stakeholders. Positively impact lives of patients in their most anxious times and turn their anxiety in to assurance. MISSION STATEMENT Helping people stay healthy, by accurately revealing their inner health ANNUAL REPORT 2019-20 5 COVID-19 HIGHLIGHTS The global catastrophe of COVID-19 has altered life and affected every aspect of it in almost every corner of the world. While it is hard to fully fathom the degree to which life will change post-COVID-19, we can only predict and assume what it will be like. Everything has its own pros and cons and this outbreak is no different. We very well know how COVID-19 has disrupted our lives, but we are oblivious of how it has helped us stop, rethink, and transform certain facets of our lives. It is helping us rectify the way our world functions. At a micro level, big manufacturing companies are switching to sustained and alternative supply chains. Similarly, at macro level, a growing number of nations are focusing on how to strengthen healthcare infrastructure in their system. In India, COVID-19 is raising tremendous awareness about health, thereby changing the dynamics of the Indian healthcare system. METROPOLIS AND COVID-19 TIMELINE Permitted to Became the fi rst Set up COVID-19 facility at commence COVID-19 private laboratory to the Global Reference Lab in testing by Indian commence COVID-19 Mumbai, and subsequently in Regulator ICMR on testing with best TAT Thane; strengthened safety March 24th 2020 and volumes, and protocols and increased accuracy rates training for staff for handling samples during the pandemic Collaborated with Started receiving corporate houses samples from across for COVID-19 testing India and additionally for underprivileged set up facilities for people COVID-19 testing in Chennai, Bangalore, Pune, Cochin and Delhi 6 METROPOLIS HEALTHCARE LTD CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS COVID-CAPABLE ICMR APPROVED LABS ACROSS THE COUNTRY Global Reference Lab Mumbai Chennai Delhi Bangalore March April April May June July July 2020 2020 2020 2020 2020 2020 2020 Pune Thane Cochin ANNUAL REPORT 2019-20 7 CHAIRMAN’S MESSAGE Dear Shareholders, Returning to how life was at the beginning of 2020 seems like a far-off reality. The COVID-19 virus struck like a sudden spectre, creating an extraordinary situation for everyone. Today, our primary collective effort is to safeguard life and health of our people. Even as the pandemic and consequent lockdowns brought economic activities to a virtual standstill, threatening livelihoods of millions, a strong resolve to adapt and survive is the need of the hour for all. With the looming clouds of uncertainty, we know that life after COVID-19 will be very different, with outcomes dependent on the intensity and timeline of the virus itself. QUALITY, SAFETY AND HYGIENE WILL REMAIN OUR TOP PRIORITY The pandemic has created a widespread awareness on how pathology labs operate, and consumers today are more aware than ever on good quality labs, accuracy, and reliability in reports. Patients turned to us during their most anxious times and it is of immense pride to us that Metropolis is continuing to perform thousands and thousands of COVID-19 tests for the benefi t of the nation.
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