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Nephrocare Health Services Ltd. ನಿರ್ದೇಶಕರ ವರದಿ
Mar 31, 2026
The Board of Directors are pleased to present the 17th Annual Report on the business and operations of the Company along with the
audited financial statements for the financial year ended March 31, 2026.
SUMMARY OF FINANCIAL PERFORMANCE
The financial performance of the Company for the financial year ended March 31, 2026 is summarized below:
|
Standalone |
Consolidated |
|||
|
FY 2025-26 |
FY 2024-25 |
FY 2025-26 |
FY 2024-25 |
|
|
Revenue from operations |
6,297.43 |
5,435.97 |
9,988.45 |
7,558.12 |
|
Other income |
154.34 |
156.31 |
245.13 |
141.03 |
|
Total Income |
6,451.77 |
5,592.28 |
10,233.58 |
7,699.15 |
|
Earnings before Interest, Depreciation, Amortization & Tax |
1,036.01 |
1,105.14 |
2,514.76 |
1,807.40 |
|
Less: Interest |
497.61 |
142.99 |
602.42 |
208.34 |
|
Less: Depreciation & Amortization |
576.09 |
508.55 |
906.67 |
724.69 |
|
Profit/(Loss) before tax and exceptional items |
(37.69) |
453.60 |
1,005.67 |
874.37 |
|
Add/(Less): Exceptional items / Profit/(Loss) from JV |
- |
- |
(30.93) |
- |
|
Profit/(Loss) before tax for the year |
(37.69) |
453.60 |
974.74 |
874.37 |
|
Less: Taxes |
42.91 |
111.24 |
206.34 |
203.41 |
|
Profit/(Loss) after tax for the year |
(80.60) |
342.36 |
768.40 |
670.96 |
|
Other comprehensive income/(Loss) (Net of tax) |
0.51 |
(7.90) |
186.34 |
(10.39) |
|
Total Comprehensive Income for the year |
(80.09) |
334.46 |
954.74 |
660.57 |
|
Basic Earnings Per Share (?) |
(0.89) |
4.23 |
8.48 |
8.28 |
|
Diluted Earnings Per Share (?) |
(0.89) |
4.09 |
8.10 |
8.01 |
Note: The EBITDA figures presented above represent reported EBITDA and do not reflect the Adjusted EBITDA disclosed elsewhere in this Report
STATE OF AFFAIRS AND PERFORMANCE OF THE
COMPANY
During the financial year under review, the Company continued
to strengthen its position as a leading dialysis service provider
through its integrated network of dialysis clinics across India and
overseas markets. The Company provides a comprehensive
range of renal care services, including in-centre haemodialysis,
home haemodialysis, mobile dialysis, holiday dialysis and patient
wellness initiatives, with a continued focus on delivering high-
quality, affordable and patient-centric care.
During the year, the Company continued its growth trajectory
through a combination of organic expansion, strategic
acquisitions and increased contribution from its international
operations. The Company also continued to invest in
technology, digital health solutions, clinical quality, operational
excellence and human capital to strengthen its long-term
growth platform and enhance patient outcomes.
On a standalone basis, the Company recorded revenue from
operations of ? 6,29743 million as against ? 5,435.97 million in
the previous financial year, registering a growth of 15.85%. On a
consolidated basis, revenue from operations increased by 32.16%
to ? 9,98845 million from ? 7,558.12 million in the previous year.
The Company reported a standalone loss before tax of ? 37.69
million as compared to a profit before tax of'' 453.60 million
in the previous year. The decline was primarily attributable to
higher interest expense on financial liabilities measured at Fair
Value Through Profit or Loss (FVTPL), higher provisioning towards
expected credit losses on trade receivables and continued
investments in people, technology and business expansion.
On a consolidated basis, the Company delivered a Profit Before
Tax of ? 974.74 million, as compared to ? 874.37 million in the
previous year, representing a growth of 11.48%. Profit After Tax on
a consolidated basis increased to ? 76840 million, as against
? 670.96 million in the previous financial year, reflecting a growth
of 14.52%.
The Company''s operational performance remained robust
during the year, with the total number of guests increasing
from 33,076 in the previous year to 36,981 during FY 2025-26,
reflecting continued growth in patient volumes and service
delivery. International operations further strengthened the
Company''s diversified business model, contributing 41.8% of
consolidated revenue during the year as compared to 31.8% in
the previous financial year The growth in consolidated revenue
was driven by a balanced mix of organic volume growth,
strategic acquisitions, pricing improvements and favourable
foreign exchange movements, demonstrating the resilience and
scalability of the Company''s business model.
The Company continued to maintain a strong financial position
during the year. Operating cash flows remained healthy at
approximately '' 2,330 million, with EBITDA-to-cash conversion
of approximately 98%, reflecting strong cash generation and the
quality of earnings. The Company also continued to improve
its working capital efficiency through focused receivables
management and operational discipline.
The Net Worth of the Company increased significantly during
the year and stood at '' 9,709.06 million on a standalone basis
as against '' 5,420.08 million in the previous year, representing
an increase of 79.13%. On a consolidated basis, the Net Worth
increased to '' 11,164.93 million from '' 5,841.13 million, registering
a growth of 91.14%. The Basic Earnings Per Share (EPS) on a
consolidated basis for FY 2025-26 stood at '' 848 per equity
share as compared to '' 8.28 per equity share in the previous
financial year.
There was no change in the nature of the business of the
Company during the financial year under review.
The Board is pleased with the Company''s strong operational
and consolidated financial performance during the year and
remains confident that its disciplined growth strategy, continued
investments in technology and digital transformation, expansion
across India and international markets, and unwavering
focus on clinical excellence and operational efficiency will
support sustainable long-term value creation for its patients,
shareholders and other stakeholders.
A detailed discussion on the industry outlook, business
performance, opportunities, risks, internal control systems and
future outlook is set out in the Management Discussion and
Analysis Report, which is annexed as Annexure I to and forms
part of this Annual Report.
FUTURE OUTLOOK |
The long-term outlook for the renal care and dialysis services
sector remains positive, supported by the increasing prevalence
of chronic kidney disease, growing healthcare awareness,
expanding insurance coverage, supportive government
initiatives and the increasing demand for organized healthcare
services in India and other key international markets.
The Company remains focused on strengthening its leadership
position through disciplined and sustainable growth. Going
forward, the Company intends to continue expanding its dialysis
network, enhancing clinical excellence, investing in technology
and digital healthcare solutions, strengthening its talent pool
and pursuing strategic growth opportunities across India and
selected international markets.
With its strong brand, scalable operating model, diversified
geographic presence, experienced management team and
robust governance framework, the Company believes it is well
positioned to leverage emerging opportunities and create
sustainable long-term value for its guests, shareholders and
other stakeholders.
DIVIDEND |
The Board has not recommended any dividend for the financial
year ended March 31, 2026. The Company proposes to retain
and reinvest its profits to support future growth, expansion
initiatives, capital requirements and long-term value creation for
its stakeholders.
TRANSFER TO GENERAL RESERVES |
During the year under review, the Company has not transferred
any amount to General Reserves.
INITIAL PUBLIC OFFERING (IPO) |
The financial year under review marked a significant milestone in
the history of the Company with the successful completion of its
Initial Public Offering ("IPO") and the listing of its equity shares on
the National Stock Exchange of India Limited ("NSE") and BSE
Limited ("BSE") (collectively referred as "Stock Exchanges").
The process for the IPO commenced with the Board, by way of
a circular resolution passed on March 28, 2025 (formally noted
at its meeting held on April 11, 2025), according its in-principle
approval to undertake an Initial Public Offering of the Company''s
equity shares, subject to prevailing market conditions, receipt
of statutory and regulatory approvals and other applicable
requirements.
Thereafter, at its meeting held on July 16, 2025, the Board
approved, subject to the approval of the shareholders and
other necessary regulatory approvals, the proposed Initial Public
Offering comprising a Fresh Issue of equity shares aggregating
up to '' 3,534.05 million and an Offer for Sale of equity shares
by certain existing shareholders of the Company. At the same
meeting, the Board also constituted an IPO Committee and
delegated to it the necessary powers to oversee and facilitate
the implementation of the IPO process.
The shareholders of the Company, at their Extra-Ordinary
General Meeting (''EGM'') held on July 25, 2025, approved the
proposed Initial Public Offering by way of a Special Resolution.
On the same day, the Board approved the Draft Red Herring
Prospectus ("DRHP") in connection with the proposed IPO
and authorized the IPO Committee to approve and adopt such
modifications, amendments, corrections or updates to the
DRHP as may be required in consultation with the Book Running
Lead Managers. Pursuant thereto, the Company filed the DRHP
with the Securities and Exchange Board of India ("SEBI"), BSE
and the NSE on July 26, 2025.
Subsequent to receipt of SEBI''s observations and completion
of the regulatory process, the Board, at its meeting held on
December 02, 2025, approved the Red Herring Prospectus
("RHP"), which was thereafter filed with the Registrar of
Companies, Telangana, SEBI, BSE and the NSE. Thereafter,
following the successful completion of the book-building
process and determination of the Issue Price, the Board, at its
meeting held on December 15, 2025, approved the Prospectus
incorporating the final terms of the Issue, which was filed with
the Registrar of Companies, Telangana and the Stock Exchanges
in accordance with the applicable provisions of the Companies
Act, 2013 (the "Act") and the SEBI (Issue of Capital and
Disclosure Requirements) Regulations, 2018.
The Company''s IPO comprised 1,89,43,020 equity shares
of face value of '' 2 each at an Issue Price of '' 460 per equity
share, aggregating to an Issue size of '' 8,713.79 million. The Issue
consisted of a Fresh Issue of 76,89,918 equity shares by the
Company and an Offer for Sale of 1,12,53,102 equity shares by
certain existing shareholders. Further, eligible employees were
offered a reservation portion at a discounted Issue Price of '' 419
per equity share, in accordance with the terms of the Issue.
Pursuant to the successful completion of the IPO, the equity
shares of the Company were listed and admitted to dealings on
NSE and BSE on December 17, 2025. The Company received net
proceeds of '' 3,251.53 million from the Fresh Issue after adjusting
IPO-related expenses amounting to '' 282.52 million. The net
proceeds are being utilized in accordance with the objects of the
Issue as set out in the Prospectus.
The successful completion of the IPO represents a defining
milestone in the Company''s growth journey and reflects the
confidence reposed by investors in the Company''s business
model, operational excellence and long-term growth strategy.
The Board places on record its sincere appreciation to the Book
Running Lead Managers, legal counsels, auditors, Registrar to the
Issue, Bankers to the Issue, Monitoring Agency, depositories, stock
exchanges, regulatory authorities and all other intermediaries for
their invaluable guidance, support and contribution throughout
the IPO process. The Board also expresses its gratitude to the
SEBI, the Registrar of Companies, Telangana, BSE and NSE for
their continued support and cooperation.
The Board further conveys its appreciation to the Company''s
shareholders, investors, guests, employees, business associates
and all other stakeholders for their continued trust and
confidence. The Company remains committed to maintaining
the highest standards of corporate governance and creating
sustainable long-term value for all its stakeholders.
CONVERSION TO PUBLIC LIMITED COMPANY |
During the financial year under review, the Company was
converted from a private limited company into a public limited
company pursuant to the approval of the members accorded
at the EGM held on June 02, 2025 and upon receipt of the
necessary approval from the Registrar of Companies, Telangana.
Accordingly, the Company was converted into a public limited
company with effect from June 18, 2025.
Consequent to the conversion, the name of the Company was
changed from Nephrocare Health Services Private Limited to
Nephrocare Health Services Limited, and a Fresh Certificate of
Incorporation dated June 18, 2025 was issued by the Registrar
of Companies, Telangana. The members also approved and
adopted the amended Memorandum of Association and Articles
of Association of the Company to align them with the provisions
of the Act, applicable to a public limited company and the
requirements relating to the proposed listing of the Company''s
equity shares on the Stock Exchanges.
MEMORANDUM AND ARTICLES OF ASSOCIATION |
During the financial year under review, the Company undertook
a series of amendments to its Memorandum of Association
("MOA") and Articles of Association ("AOA") to facilitate
the proposed IPO, align its constitutional documents with
the provisions applicable to a public limited company and
reorganize its capital structure. These amendments were duly
approved by the Board of Directors and the members of the
Company from time to time in accordance with the provisions
of the Act.
a. The Board of Directors, at its meeting held on April 11,
2025, and the members at the EGM held on June 02,
2025, approved the conversion of the Company from a
private limited company into a public limited company in
anticipation of the proposed IPO. Consequent upon the
receipt of the approval from the Registrar of Companies,
the Company was converted into a public limited company
with effect from June 18, 2025, and its name was changed
from "Nephrocare Health Services Private Limited" to
"Nephrocare Health Services Limited". Accordingly,
Clause I of the MOA was amended, and a Fresh Certificate
of Incorporation dated June 18, 2025 was issued by the
Registrar of Companies, Central Registration Centre.
Simultaneously, the existing AOA applicable to a private
company were substituted with a new set of AOA aligned
with the provisions of the Act, applicable to public limited
companies and the proposed listing of the Company''s
equity shares.
b. The Board of Directors, at its meeting held on May 24,
2025, and the members at the EGM held on May 26, 2025,
approved the increase in the authorized share capital of
the Company by creating a new class of Compulsorily
Convertible Preference Shares ("CCPS"). Prior to the
amendment, the authorized share capital of the Company
was '' 27,98,00,000, divided into 1,18,00,000 Equity Shares
of '' 10 each, aggregating to '' 11,80,00,000, and 1,61,80,000
Preference Shares of '' 10 each, aggregating to '' 16,18,00,000.
Pursuant to the approval, 3,50,00,000 Compulsorily
Convertible Preference Shares of face value '' 2 each,
aggregating to '' 7,00,00,000, were created and Clause V
of the MOA was amended accordingly. Consequently, the
authorized share capital of the Company increased to
'' 34,98,00,000, comprising 1,18,00,000 Equity Shares
of '' 10 each, aggregating to '' 11,80,00,000, 1,61,80,000
Preference Shares of '' 10 each, aggregating to
'' 16,18,00,000, and 3,50,00,000 Compulsorily Convertible
Preference Shares of '' 2 each, aggregating to '' 7,00,00,000.
c. At the same EGM held on May 26, 2025, the members
also approved the sub-division (stock split) of the equity
shares of the Company from a face value of '' 10 per equity
share to '' 2 per equity share, with a view to aligning the
capital structure with the proposed IPO. Prior to the sub¬
division, the authorized equity share capital comprised
1.18.00. 000 Equity Shares of '' 10 each, aggregating to
'' 11,80,00,000. Pursuant to the sub-division, the authorized
equity share capital was reclassified into 5,90,00,000
Equity Shares of '' 2 each, aggregating to '' 11,80,00,000.
The aggregate authorized share capital of the Company
remained unchanged at '' 34,98,00,000. Consequently,
the authorized share capital of the Company comprised
5.90.00. 000 Equity Shares of '' 2 each, aggregating to
'' 11,80,00,000, 1,61,80,000 Preference Shares of '' 10
each, aggregating to '' 16,18,00,000, and 3,50,00,000
Compulsorily Convertible Preference Shares of '' 2 each,
aggregating to '' 7,00,00,000. Clause V of the MOA was
amended to give effect to the aforesaid changes.
d. In furtherance of the proposed IPO, the Board of Directors,
by way of circular resolutions and subsequently approved
by Members on July 25, 2025, amendments to the
Shareholders'' Agreement dated April 08, 2024, to align
the contractual rights and obligations of the shareholders
with the requirements applicable to a listed company.
Consequent thereto, the Company adopted a revised set
of AOA comprising Part A and Part B. Part A contained the
Articles applicable upon listing of the Company''s equity
shares, whereas Part B incorporated certain rights and
obligations arising under the Shareholders'' Agreement,
which were intended to remain effective only until the filing
of the RHP. In accordance with the terms of the revised
AOA, Part B automatically ceased to have effect upon the
filing of the RHP, and Part A continues to remain in force
following the listing of the Company''s equity shares on the
Stock Exchanges.
e. The Board of Directors, by way of a resolution passed
through circulation on September 28, 2025, and the
members, by way of a Special Resolution passed at the
EGM held on September 30, 2025, approved further
amendments to the AOA of the Company pursuant to the
amendments made to the Shareholders'' Agreement dated
April 08, 2024. The said amendments were carried out to
further align the constitutional documents of the Company
with the revised provisions of the Shareholders'' Agreement
and the proposed listing framework.
f. As part of the IPO preparedness and to ensure adequate
authorized equity share capital for future issuances, the
members of the Company, at the EGM held on October
14, 2025, approved a further amendment to Clause V of
the MOA. Prior to this amendment, the authorized share
capital of the Company was '' 34,98,00,000, comprising
5.90.00. 000 Equity Shares of '' 2 each, aggregating to
'' 11,80,00,000, 1,61,80,000 Preference Shares of '' 10
each, aggregating to '' 16,18,00,000, and 3,50,00,000
Compulsorily Convertible Preference Shares of '' 2 each,
aggregating to '' 7,00,00,000. Pursuant to the amendment,
the authorized equity share capital was increased from
5.90.00. 000 Equity Shares of '' 2 each to 12,74,00,000
Equity Shares of '' 2 each, thereby increasing the authorized
equity share capital from '' 11,80,00,000 to '' 25,48,00,000.
Simultaneously, the authorized preference share capital was
reduced from 1,61,80,000 Preference Shares of '' 10 each,
aggregating to '' 16,18,00,000, to 25,00,000 Preference
Shares of '' 10 each, aggregating to '' 2,50,00,000, while
the authorized Compulsorily Convertible Preference Share
capital remained unchanged at 3,50,00,000 CCPS of
'' 2 each, aggregating to '' 7,00,00,000. Consequently,
although the aggregate authorized share capital of the
Company continued to remain '' 34,98,00,000, its
composition thereafter comprised 12,74,00,000 Equity
Shares of '' 2 each, aggregating to '' 25,48,00,000,
25,00,000 Preference Shares of '' 10 each, aggregating to
'' 2,50,00,000, and 3,50,00,000 Compulsorily Convertible
Preference Shares of '' 2 each, aggregating to '' 7,00,00,000.
The above amendments to the MOA and AOA were
undertaken as part of the Company''s transition from a
private company to a listed public company and to ensure
that its constitutional documents remained aligned with
the provisions of the Act, the rules made thereunder,
the SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2018, the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ("SEBI
Listing Regulations") and other applicable regulatory
requirements.
SHARE CAPITAL
Authorized Share Capital
As on the financial year ended March 31, 2026, the Authorized
Share Capital of the Company is '' 34,98,00,000/- (Rupees
Thirty-Four croress Ninety-Eight Lakhs only) divided as follows:
i. '' 25,48,00,000/- (Rupees Twenty-Five croress Forty-Eight
Lakhs only) divided into 12,74,00,000 (Twelve croress
Seventy-Four Lakhs) Equity shares of '' 2/- (Rupees Two
only) each; and
ii. '' 2,50,00,000/- (Rupees Two croress Fifty Lakhs only)
divided into 25,00,000 (Twenty-Five Lakhs) Preference
Shares of '' 10/- (Rupees Ten only) each; and
iii. '' 7,00,00,000/- (Rupees Seven croress only) divided into
3,50,00,000 (Three croress Fifty Lakhs) Compulsorily
Convertible Preference Shares of '' 2/- (Rupees Two only)
each.
Issued, Subscribed and Paid-up Equity Share Capital and
changes therein:
As on March 31, 2026, the paid-up equity share capital of the
Company stood at '' 20,06,81,434 (Rupees Twenty croress Six
Lakhs Eighty-One Thousand Four Hundred and Thirty-Four
Only), comprising 10,03,40,717 (Ten croress Three Lakhs Forty
Thousand Seven Hundred and Seventeen) fully paid-up equity
shares of face value of '' 2 (Rupees Two Only) each.
Details of change in the equity paid-up share capital of the Company during the year are as under:
|
Date of |
Number |
Face value |
Issue price |
Nature of allotment |
Nature of |
Name of allottees/ |
|
April 18, |
10,234 |
10 |
10 |
Allotment pursuant |
Cash |
Allotment to 1 employee |
|
April 18, |
1,250 |
10 |
739 |
Allotment pursuant |
Cash |
Allotment to 1 employee |
|
May 20, |
4,97,667 |
10 |
NA |
Allotment pursuant to |
Allotment of 497,667 |
|
|
May 20, |
4,09,485 |
10 |
NA |
Allotment pursuant to |
Allotment of 409,485 |
|
Date of |
Number Face value Issue price Nature of allotment Nature of Name of allottees/ |
|
May 22, |
4,26,460 10 NA Allotment pursuant to - Allotment of 426,460 conversion of Series D CCPS equity shares to one Series D CCPS held Limited |
|
May 22, |
34,254 10 NA Allotment pursuant to - Allotment of 34,254 conversion of Series E equity shares to CCPS in the ratio of one Investcorp India Private one Series E CCPS held Limited |
|
June 26, |
1,85,625 2 78.58 Allotment pursuant Cash Allotment to 15 employees to exercise under of the Company under |
|
June 26, |
2,625 2 176.03 Allotment pursuant Cash Allotment to 2 employees to exercise under of the Company under |
|
June 26, |
34,680 2 61.58 Allotment pursuant Cash Allotment to 1 employee to exercise under of the Company under |
|
June 26, |
2,08,350 2 98.22 Allotment pursuant Cash Allotment to 5 employees to exercise under of the Company under |
|
June 26, |
1,39,200 2 49.27 Allotment pursuant Cash Allotment to 9 employees to exercise under of the Company under |
|
June 26, |
1,11,705 2 220.03 Allotment pursuant Cash Allotment to 4 employees to exercise under of the Company under |
|
June 26, |
14,070 2 82.53 Allotment pursuant Cash Allotment to 1 employee to exercise under of the Company ESOP |
|
June 26, |
28,005 2 78.58 Allotment pursuant Cash Allotment to 3 employees to exercise under of the Company under |
|
June 26, |
18,750 2 82.53 Allotment pursuant Cash Allotment to 1 employee to exercise under of the Company under |
|
June 26, |
26,250 2 197.33 Allotment pursuant Cash Allotment to 1 employee to exercise under of the Company under |
|
October 23, |
3,07,50,850 2 NA Allotment pursuant to - Allotment of 30,750,850 conversion of Bonus Equity Shares pursuant CCPS in the ratio of one to conversion of Bonus approved terms of issue. |
|
Date of |
Number Face value Issue price Nature of allotment Nature of Name of allottees/ |
|
October 23, |
86,12,084 2 NA Allotment pursuant to - Allotment of 8,592,933 conversion of Bonus Equity Shares were Arvind Kumar |
|
October 23, |
45,46,140 2 NA Allotment pursuant to - Allotment of 4,546,140 conversion of Series A Equity Shares to equity share for every Partners Trust |
|
October 23, |
66,93,480 2 NA Allotment pursuant to - Allotment of 3,875,940 conversion of Series B and 2,817,540 Equity Corporation, respectively, |
|
October 23, |
33,61,785 2 NA Allotment pursuant to - Allotment of 3,361,785 conversion of Series C Equity Shares to CCPS in the ratio of one International Finance |
|
October 23, |
88,74,855 2 NA Allotment pursuant to - Allotment of 2,330,490 conversion of Series D CCPS Equity Shares to equity shares for every Equity Fund II, 4,926,255 one Series D CCPS held Equity Shares to Edoras Investment Holdings Pte. |
|
October 23, |
76,66,845 2 NA Allotment pursuant to - Allotment of 2,693,505 conversion of Series E Equity Shares to 360 One CCPS in the ratio of one Special Opportunities equity share for every Fund - Series 9, 9,835,545 Equity Shares to 360 One |
|
Date of |
Number |
Face value |
Issue price |
Nature of allotment |
Nature of |
Name of allottees/ |
|
October 23, |
40,55,160 |
2 |
NA |
Allotment pursuant to |
Allotment of 2,173,080 |
|
|
December |
80,800 |
2 |
419 |
Allotment pursuant IPO |
Cash |
Allotment of 80,800 |
|
December |
76,09,118 |
2 |
460 |
Allotment pursuant IPO |
Cash |
Allotment of 76,09,118 |
a. Pursuant to the exercise of vested stock options under
the NephroPlus Employee Stock Option Scheme 2011, the
Company allotted 11,484 fully paid-up equity shares of face
value '' 10 each on April 18, 2025.
b. Pursuant to a conversion notice from Edoras Investment
Holdings Pte. Ltd., the Board at its meeting held on May 20,
2025, approved the conversion of 497,667 Series A and
409,485 Series B Compulsorily Convertible Preference
Shares of '' 10 each into an aggregate of 9,07,152 equity
shares of '' 10 each. Consequently, the issued equity
share capital of the Company increased to '' 3,00,33,540,
and the issued preference share capital was reduced to
'' 2,75,85,350.
c. The Company received conversion notices from Investcorp
India Investments Holding Limited and Investcorp India
Private Equity Opportunity Limited for the conversion
of their Series D and Series E Compulsorily Convertible
Preference Shares into equity shares. Pursuant to the
approval of the Board at its meeting held on May 22, 2025,
4,06,049 Series D CCPS and 34,254 Series E CCPS of '' 10
each were converted into an aggregate of 4,60,714 equity
shares of '' 10 each. Consequent to this conversion, the
issued equity share capital of the Company increased to ''
3,46,40,680, while the issued preference share capital was
reduced to '' 2,31,82,320. The equity shares so allotted rank
pari passu with the existing equity shares of the Company.
d. The Board approved making the first and final call on the
partly paid-up equity shares of the Company, allotted
across different tranches between year 2016 and year
2023, with the call monies payable on or before June 10,
2025, and subsequently, pursuant to a circular resolution
passed on May 23, 2025, the Company received the said
first and final call amount from Mr. Vikram Vuppala towards
the balance unpaid amount on 3,55,448 partly paid-up
equity shares of '' 10 each, thereby converting these shares
into fully paid-up equity shares, updating the Register of
Members and statutory records, and making the necessary
filings with the Registrar of Companies, as a result of which
the said shares now rank pari-passu with the existing fully
paid-up equity share capital of the Company.
e. At the EGM held on May 26, 2025, the members approved
the sub-division (stock split) of the equity shares of the
Company from a face value of '' 10 per equity share to
'' 2 per equity share, with a view to aligning the capital
structure with the proposed IPO.
f. The Board at its meeting held on May 24, 2025, and with the
subsequent approval of the shareholders at their meeting
held on May 26, 2025, approved the capitalization of the
Securities Premium Account for issuance of 34,640,680
fully paid-up 0.001% Compulsorily Convertible Preference
Shares of '' 2 each as bonus shares ("Bonus CCPS") to the
existing equity shareholders in the ratio of 2 Bonus CCPS for
every 1 equity share held as on the record date. The Bonus
CCPS so allotted rank pari-passu in all respects with the
existing equity shares of the Company.
In line with the terms of the Amended and Restated
Shareholders'' Agreement dated April 08, 2024, the Board
also approved adjustments to the conversion ratio of the
outstanding CCPS to ensure that such holders maintain
their proportionate shareholding on a fully diluted basis.
Pursuant to the sub-division (stock split) of the equity
shares approved by the shareholders on May 26, 2025,
appropriate adjustments were made to the outstanding
stock options under the ESOP Schemes, whereby each
stock option representing one equity share of face value
'' 10 each was adjusted to represent five equity shares of
face value '' 2 each. Subsequently, pursuant to the issuance
of Bonus CCPS in the ratio of 1:2, further adjustments were
made to the outstanding stock options in accordance
with the applicable provisions of the ESOP Schemes.
Accordingly, each outstanding stock option now represents
15 equity shares of face value '' 2 each.
The allotment of the Bonus CCPS was completed by the
Board through a circular resolution passed on May 27,
2025, and all requisite filings and statutory formalities have
been complied with.
g. Pursuant to the approval of the shareholders at their
meeting held on June 14, 2025, the Board, through its
circular resolution dated June 26, 2025, approved variations
in the conversion terms of 38,89,830 Bonus CCPS and
eligible ESOPs, by linking their conversion to a defined
business performance milestone. Under the revised terms,
upon achievement of the prescribed Operational EBITDA
threshold for the quarter ending September 30, 2025,
each instrument will convert into 2.214 equity shares of '' 2
each, and in the event the threshold is not achieved, each
instrument will convert into 0.2 equity shares of '' 2 each.
h. The Board of Directors of the Company, by way of resolution
passed through circulation on June 26, 2025, approved
the allotment of 7,69,260 fully paid-up equity shares of
face value '' 2 each to eligible employees pursuant to the
exercise of vested stock options under the Nephroplus
ESOP Scheme 2011, in accordance with the terms and
conditions of the Scheme and the applicable provisions of
the Act.
i. The Board of Directors of the Company, by way of
resolution passed through circulation on October 23,
2025, approved the conversion of 23,18,232 outstanding
CCPS of face value '' 10 each issued under various
funding rounds comprising Series A, B, C, D, E and F into
3,51,98,265 fully paid-up equity shares of face value '' 2
each, in accordance with the terms and conditions of issue
of such CCPS, the Amended and Restated Shareholders''
Agreement dated April 08, 2024, as amended, and the
applicable provisions of the Act, the Foreign Exchange
Management Act, 1999 and other applicable laws. The
aforesaid conversion also includes the corresponding
entitlement arising on account of bonus issue and
sub-division of equity shares undertaken by the Company.
j. The Board of Directors of the Company, by way of resolution
passed through circulation on October 23, 2025, approved
the conversion of 3,46,40,680 outstanding Bonus CCPS of
face value '' 2 each into 3,93,62,934 fully paid-up equity
shares of face value '' 2 each, in accordance with the terms
and conditions of issue of such Bonus CCPS, the Amended
and Restated Shareholders'' Agreement dated April 08,
2024, as amended, and the applicable provisions of the
Act, the Foreign Exchange Management Act, 1999 and
other applicable laws.
Further, in respect of the Bonus CCPS issued to Mr. Vikram
Vuppala and Mr Trivaluroo Arvi nd Kuma r, the conversion was
carried out at the ratio of 1:2.214 pursuant to achievement
of the Operational EBITDA threshold for Q2 FY 2025-26,
as recorded by the Board through circular resolution dated
October 19, 2025, and based on the consents received
from the respective holders.
k. The Company successfully completed its IPO comprising
1,89,43,020 equity shares of face value of '' 2 each at an
issue price of '' 460 per equity share, including a fresh
issue of 76,89,918 equity shares and an offer for sale of
1,12,53,102 equity shares. Further, eligible employees were
offered a reservation portion at a discounted issue price
of '' 419 per equity share, in accordance with the terms of
the IPO. Pursuant to the completion of the IPO, the Board
at its meeting held on December 15, 2025 approved the
allotment of the aforesaid equity shares in accordance with
the Basis of Allotment finalized for the issue.
Promoters of the company |
In connection with the IPO of the Company''s equity shares,
the Board of Directors, at its meeting held on July 16, 2025,
identified and approved Mr. Vikram Vuppala, Investcorp Private
Equity Fund II, Investcorp Growth Opportunity Fund, Healthcare
Parent Limited, Bessemer Venture Partners Trust and Edoras
Investment Holdings Pte. Ltd. as the Promoters of the Company
for the purposes of the IPO and the related disclosures under
the Act, the applicable SEBI Regulations and other applicable
laws. There was no change in the Promoters of the Company till
the date of this report.
BoArd of directors, its committees and their I
MEETINGS
The Company has a Board comprising of professionals who
provides strategic guidance and direction to the Company in
achieving its business objectives and protecting the interest of
the stakeholders.
The Board of Directors of the Company is duly constituted and
composition of the Board as on March 31, 2026 is as under:
1. Mr. Vikram Vuppala, Chairman & Managing Director
(DIN: 02847323)
2. Mr. Vishal Vijay Gupta, Non-Executive Nominee Director
(DIN: 01913013)
3. Mr. Gaurav Sharma, Non-Executive Nominee Director
(DIN: 03311656)
4. Mr. Sunil Kumar Thakur, Non-Executive Nominee Director
(DIN: 03266370)
5. Mr. Om Prakash Manchanda, Independent Director
(DIN: 02099404)
6. Mr. Hemant Sultania, Independent Director
(DIN: 00472577)
7. Dr. Ajay Bakshi, Independent Director (DIN: 05254187)
8. Ms. Annette Kumlien, Independent Director (DIN: 11050620)
Based on the declarations received from the Directors, none
of the Directors of the Company is disqualified from being
appointed or continuing as a Director under the provisions of
Section 164(2) or any other applicable provisions of the Act.
Further, none of the Directors has been debarred or disqualified
from accessing the securities market or from holding the office
of a director by virtue of any order passed by the SEBI or any
other statutory or regulatory authority.
During the financial year, 21 (Twenty-one) meetings of Board of
Directors of the Company were convened and held in accordance
with the provisions of the Act and Secretarial Standards issued
by the Institute of Company Secretaries of India. The date(s) of
the Board Meeting, attendance of the Directors is given in the
Corporate Governance Report forming part of this annual report.
The time-ga p between a ny two consecutive meetings was within
the period prescribed under the Act and SEBI Listing Regulations.
During the financial year under review, the Board of Directors,
vide circular resolution dated July 02, 2025, constituted the
following Committees:
/-;-â
Audit Committee
Nomination and Remuneration Committee
Stakeholders'' Relationship Committee
Corporate Social Responsibility Committee
Risk Management Committee
-¦
Further, in view of the proposed IPO, the Board, at its meeting
held on July 16, 2025, constituted an Initial Public Offer (IPO)
Committee to oversee, guide, and take necessary decisions in
relation to the IPO process, including approvals of documents,
filings, and coordination with regulatory authorities and
intermediaries.
The details of the aforesaid Committees, including their terms
of reference, composition, number of meetings held during
the year and attendance of the members, are set out in the
Corporate Governance Report, which is annexed as annexure
to this Board''s Report.
CHANGES IN DIRECTORS AND KEY MANAGERIAL |PERSONNEL
During the year under review, below are the changes in
composition of Board of Directors:
i. Dr. Ajay Bakshi (DIN: 05254187) and Ms. Annette Kumlien
(DIN: 11050620) were appointed as additional directors of
the Company w.e.f. May 12, 2025 for independent director
category for a period of five (5) years vide Board circular
resolution dated May 12, 2025 under the relevant provisions
of the Act and their appointment was approved by the
members of the Company at their EGM held on July 19,
2025.
ii. In order to comply with the provisions of Section 152(6) of
the Act, applicable upon conversion of the Company into
a public limited company, the Board of Directors, at its
meeting held on July 16, 2025, approved the reclassification
of Mr. Sunil Kumar Thakur (DIN: 03266370), Mr. Gaurav
Sharma (DIN: 03311656), and Mr. Vishal Vijay Gupta
(DIN: 01913013) as Directors liable to retire by rotation,
with all other terms and conditions of their respective
appointments remaining unchanged. The shareholders of
the Company approved the said reclassifications at the
EGM held on July 19, 2025.
iii. The Board of Directors, at its meeting held on July 16,
2025, approved the re-appointment of Mr. Vikram Vuppala
(DIN: 02847323) as the Managing Director of the Company
for a further term of five (5) years with immediate effect,
on revised terms of remuneration as recommended by the
Nomination and Remuneration Committee, subject to the
approval of shareholders. The shareholders of the Company
subsequently approved the said re-appointment by way of
special resolution passed on July 19, 2025. He is not liable
to retire by rotation.
iv. The Board of Directors, at its meeting held on July 16,
2025, approved the appointment of Mr. Vikram Vuppala
(DIN: 02847323), Managing Director of the Company, as
the Chairman of the Board of Directors in recognition of
his strategic leadership and continued contribution to the
Company''s growth.
v. Mr. Amit Varma (DIN: 02241746) resigned as Nominee
Director with effect from July 21, 2025, and the Board placed
on record its appreciation for his valuable contributions
during his tenure.
vi. The Board, by circular resolution dated July 25, 2025,
approved the change in designation of Mr. Vishal Vijay
Gupta (DIN: 01913013) from Non-Executive Director
to Nominee Director, representing Bessemer Venture
Partners Trust, with immediate effect, as recommended
by the Nomination and Remuneration Committee. The
shareholders approved the said change on July 25, 2025.
All other terms of his appointment, including his status as a
director liable to retire by rotation, remain unchanged.
vii. In accordance with the provisions of Section 152 of the Act
and pursuant to the AOA of the Company, Mr Vishal Vijay
Gupta (DIN: 01913013), Director of the Company, retired
by rotation at the Annual General Meeting (''AGM'') held on
September 26, 2025 and, being eligible, offered himself for
re-appointment. Accordingly, the shareholders approved
his re-appointment at the said AGM.
viii. Pursuant to the recommendation of the Nomination and
Remuneration Committee vide circular resolution dated
January 02, 2026 and approval of the Board of Directors at
its meeting held on January 05, 2026, the shareholders of
the Company approved, through Postal Ballot, the results
were declared on February 06, 2026, the re-appointment
of Mr. Om Prakash Manchanda (DIN: 02099404) as an
Independent Director of the Company, not liable to retire
by rotation, for a second term of three consecutive years
commencing from February 11, 2026 up to February
10, 2029 (both days inclusive), in accordance with the
provisions of the Act and the SEBI Listing Regulations.
In accordance with provisions of Section 152 of the Act and
pursuant to Articles of Association of the Company, Mr. Gaurav
Sharma (DIN: 03311656), Nominee Director (Non-Executive
category) of the Company, is liable to retire by rotation at the
ensuing AGM and being eligible, offers himself for re-appointment.
The brief details with respect to appointment of Mr Gaurav
Sharma (DIN: 03311656), Non-Executive Nominee Director,
as required to be disclosed in accordance with Secretarial
Standards are included in the notice of the ensuing AGM forming
part of this Annual Report.
Based on the declarations received from the Independent
Directors pursuant to the provisions of the Act and the SEBI
Listing Regulations, the Board is satisfied that all the Independent
Directors fulfill the criteria of independence prescribed under
Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI
Listing Regulations and are independent of the management. In
the opinion of the Board, all the Independent Directors possess
the requisite integrity, expertise, experience and proficiency as
required under Section 150(1) of the Act, read with the applicable
rules made thereunder, and there has been no change in the
circumstances affecting their status as Independent Directors
du ri ng the fi na ncia l yea r under review.
In accordance with the provisions of Section 150 of the Act read
with Rule 6 of the Companies (Appointment and Qualification
of Directors) Rules, 2014, all the Independent Directors have
registered their names with the data bank of Independent
Directors maintained by the Indian Institute of Corporate Affairs.
The Independent Directors are not liable to retire by rotation.
The Independent Directors have further confirmed that they
have complied with the Code for Independent Directors
prescribed under Schedule IV to the Act, the Company''s Code
of Conduct for the Board of Directors and Senior Management
Personnel, and the applicable provisions of the SEBI (Prohibition
of Insider Trading) Regulations, 2015, including the Company''s
Code of Conduct framed thereunder.
In terms of Regulation 25(8) of the SEBI Listing Regulations,
Independent Directors have confirmed that they are not aware
of any circumstances or situation which exists or may be
reasonably anticipated that could impair or impact their ability
to discharge their duties.
As on March 31, 2026, the Key Managerial Personnel of the
Company during the year under review comprised the following:
1. Mr. Vikram Vuppala, Chairman & Managing Director
(DIN: 02847323)
2. Mr. Rohit Singh, Group Chief Executive Officer
3. Mr. Prashant Goenka, Group Chief Financial Officer and
Chief Risk Officer
4. Mr. Kishore Kathri, Company Secretary and Compliance
Officer
During the year under review, below are the changes in
composition of Key Managerial Personnel of the Company as on
March 31, 2026:
The Board, at its meeting held on May 20, 2025, appointed
Mr. Rohit Singh, Chief Operating Officer of the Company, as the
Group Chief Executive Officer and designated him as a Key
Managerial Personnel in accordance with Section 203 of the Act,
with effect from May 20, 2025.
As part of an internal restructuring, Mr. Gulshan Goyal ceased to
be the Company Secretary and Compliance Officer with effect
from the close of business hours on July 14, 2025, and was
succeeded by Mr. Kishore Kathri, who joined the Company on
June 02, 2025 and was appointed as Company Secretary and
Compliance Officer with effect from July 16, 2025.
The Board of Directors, at its meeting held on July 16, 2025,
approved the re-appointment of Mr. Vikram Vuppala
(DIN: 02847323) as the Managing Director of the Company for a
further term of five (5) years with immediate effect, on revised
terms of remuneration as recommended by the Nomination
and Remuneration Committee, subject to the approval of
shareholders. The shareholders of the Company subsequently
approved the said re-appointment by way of special resolution
passed on July 19, 2025. He is not liable to retire by rotation.
Revision in Terms of Appointment of Independent Directors
In recognition of the expanded scale of operations of the
Company and the increased level of engagement required from
the Independent Directors, the Board of Directors, at its meeting
held on July 16, 2025, approved the revision in the remuneration
structure of the Independent Directors, namely Mr Om
Prakash Manchanda, Mr Hemant Sultania, Dr. Ajay Bakshi, and
Ms. Annette Kumlien. Under the revised terms, effective
from April 01, 2025, the aggregate amount payable to
each Independent Director, by way of sitting fees and
commission, shall not exceed '' 2.5 million per financial year,
as recommended by the Nomination and Remuneration
Committee and approved by the Board. The shareholders of
the Company approved the said revision at the EGM held on
July 19, 2025.
POLICY ON DIRECTORS'' APPOINTMENT AND |
REMUNERATION
The Company endeavours to maintain an appropriate mix of
Executive, Non-Executive and Independent Directors on its
Board to ensure an effective balance between governance,
management oversight and independent judgement. The
selection and appointment of Directors are made based on
the recommendations of the Nomination and Remuneration
Committee, having due regard to merit, qualifications, expertise,
experience, integrity and diversity.
While evaluating the candidature of an Independent Director, the
Nomination and Remuneration Committee ensures compliance
with the criteria of independence prescribed under the Act and
the SEBI Listing Regulations, 2015. In the case of re-appointment
of Directors, the Board also considers the outcome of the
performance evaluation of the concerned Director.
The Company has in place a Nomination and Remuneration
Policy for Directors, Key Managerial Personnel and Senior
Management, which lays down the criteria for appointment,
remuneration, evaluation and succession planning. The Policy is
available on the website of the Company at: https://nephroplus.
com/api/assets/investors/disclosures-under-reg-46/policies-
and-code-of-conduct/NP_NRC_Policy.pdf
The objective of the Company''s remuneration policy is to
attract, motivate and retain qualified and competent individuals
required to achieve the Company''s strategic and operational
objectives, while ensuring that remuneration remains fair,
performance-driven, aligned with market practices and
consistent with the long-term interests of the Company and its
stakeholders.
PARTICULARS OF EMPLOYEES, DIRECTORS AND KEY |
MANAGERIAL PERSONNEL
The ratio of remuneration of each Director to the median
employee''s remuneration and other details prescribed in
Section 197(12) of the Act, read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel)
Rules, 2014, are annexed to this Report as Annexure II.
In terms of the provisions of Section 197(12) of the Act, read
with Rules 5(2) and 5(3) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, a statement
showing the names of employees and other particulars of the
top ten employees and employees drawing remuneration in
excess of the limits as provided in the said Rules are required in
the Board''s Report as an addendum thereto. However, in terms
of the provisions of the first proviso to Section 136(1) of the Act,
this Annual Report is being sent to the Members of the Company
excluding the aforesaid information. The said information is
available for inspection and any Member interested in obtaining
such information may write to the Company Secretary for the
same.
Familiarization program For independent |
DIRECTORS
In addition to giving a formal appointment letter to the newly
appointed Independent Director on the Board, a detailed
induction plan covering the role, function, duties, responsibilities
and the details of compliance requirements expected from the
director under the Act and relevant Regulations of SEBI Listing
Regulations are given and explained to the new Director.
Pursuant to Regulation 25(7) of SEBI Listing Regulations,
conducting familiarization programmes for the Independent
Directors in the Company is a continuous process, whereby
Directors are informed, either through presentations at the
Board or the Committee meetings, board notes, interactions
or otherwise about industry outlook, business operations,
future strategies, business plans, competitors, market positions,
products and new launches, internal and operational controls
over financial reporting, budgets, analysis on the operations of
the Company, etc.
Pursuant to Regulation 46 of SEBI Listing Regulations, the
details required are available on the Company''s website https://
nephroplus.com/api/assets/investors/disclosures-under-
reg-46/policies-and-code-of-conduct/FAMILIARISATION_
PROGRAMME_FORJNDEPENDENT_DIRECTORS_FY26.pdf
Board evaluation |
Pursuant to the provisions of the Act and SEBI Listing Regulations,
every year a formal evaluation of the performance of the Board,
its Committees, the Chairman and the individual directors is
conducted. Structured forms covering evaluation of the Board,
the Committees of the Board, the Chairperson, Independent
Directors and Non-Independent Directors are devised for
evaluation by all the Directors. Each Director is rated against
various criteria such as composition of the Board, receipt of
regular inputs and information, functioning, performance and
structure of the Board Committees, skill set, knowledge and
expertise of directors, preparation and contribution at the
Board meetings, leadership, etc.
The Board reviews the key skills/expertise/competence of the
Directors, so that the Board of Directors comprises of a diverse
and multidisciplinary group of professionals with requisite skills/
expertise/competence who can contribute towards providing
strategic direction to the Company''s management upholding
the highest standards of Corporate Governance.
Further, as per the SEBI Listing Regulations, the following is the
matrix of skills and competencies on which all the Directors are
evaluated:
/ ¦
Governance and Board service
Business understanding
Risk/Legal/Regulatory compliance
Information Technology/ Accounting/
Financial experience
Industry/Sector knowledge
Strategy development and implementation
In a separate meeting of Independent Directors held on March
20, 2026, performance of Non-Independent Directors, the Board
as a whole and the Chairman of the Company was evaluated.
The performance evaluation of Independent Directors was
done by the entire Board, excluding the Independent Director
being evaluated. The evaluation was carried out in terms of the
Nomination and Remuneration Policy of the Company. The
Nomination and Remuneration Committee of the Company
annually reviews the performance evaluation process.
Unsecured loan from the directors I
During the year under review, the Company has not accepted
any unsecured loan from any Director of the Company or any
relative of a Director.
ANNUAL RETURN |
Pursuant to section 134(3)(a) and section 92(3) of the Act
read with Rule 12 of the Companies (Management and
Administration) Rules, 2014, the annual return of the Company
for the financial year 2025-26 can be accessed through the
web link on the Company''s website https://nephroplus.com/
api/assets/investors/disclosures-under-reg-46/annual-returns/
MGT-7_FY26_Nephrocare_Health.pdf
DIRECTORS'' RESPONSIBILITY STATEMENT |
Pursuant to the requirement of Section 134(3)(c) and 134(5)
of the Act and to the best of their knowledge and information
furnished, the Board of Directors state that:
a. In preparation of the Annual Accounts for the financial
year ended March 31, 2026, all the applicable Accounting
Standards prescribed by the Institute of Chartered
Accountants of India and Act have been followed and there
were no material departures.
b. They have adopted such accounting policies and applied
them consistently and made judgments and estimates
that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company at the end of
the financial year and of the profit of the Company for the
financial year ended March 31, 2026.
c. They have taken proper and sufficient care for the
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 fraud and other irregularities.
d. The Annual Accounts for the financial year ended March 31,
2026 have been prepared on a going concern basis.
e. Proper internal financial controls were in place and that the
financial controls were adequate and operating effectively.
f. The systems to ensure compliance with the provisions of
all applicable laws were in place and were adequate and
operating effectively.
ADOPTION OF STATUTORY POLICIES
During the financial year under review, consequent upon the
Company''s conversion into a public limited company and the
listing of its equity shares pursuant to the IPO, the Board of
Directors approved and adopted various statutory policies,
codes and governance frameworks to ensure compliance with
the provisions of the Act, the SEBI Listing Regulations, the SEBI
(Prohibition of Insider Trading) Regulations, 2015 and other
applicable regulatory requirements. Wherever applicable, these
policies and codes were reviewed and recommended by the
respective Committees of the Board prior to their approval by
the Board. The details of the policies and codes adopted during
the year are set out below:
1. Corporate Social Responsibility Policy;
2. Risk Management Policy;
3. Dividend Distribution Policy;
4. Vigil Mechanism Policy/ Whistle Blower Policy;
5. Nomination and Remuneration Policy;
6. Code Of Practices and Procedures for Fair Disclosure of
Unpublished Price Sensitive Information as Per SEBI Insider
Trading Regulations (as well as a Policy for Inquiry in cases
of Leak of Unpublished Price Sensitive Information and
Determination of Legitimate Purposes);
7. Code Of Conduct to Regulate, Monitor and Report
Trading by Designated Persons and Immediate Relative of
Designated Persons under the SEBI (Prohibition of Insider
Trading) Regulations, 2015;
8. Policy on Related Party Transactions;
9. Code of conduct for all members of the Board and Senior
Management;
10. Terms and Conditions of Appointment of Independent
Director;
11. Policy on Preservation and Archival of Documents;
12. Policy on Material Subsidiaries; and
13. Policy on Materiality.
Subsequent to the close of the financial year, the Board of
Directors, at its meeting held on May 19, 2026, approved and
adopted the Succession Planning Framework and the Those
Charged With Governance (''TCWG'') Communication Charter
as part of the Company''s ongoing efforts to strengthen its
corporate governance framework and align its governance
practices with regulatory requirements and industry best
practices.
STATEMENT INDICATING DEVELOPMENT AND
IMPLEMENTATION OF RISK MANAGEMENT POLICY
The Company has constituted a Risk Management Committee
of the Board to review the enterprise risk management plan/
process of the Company. The Risk Management Committee
identifies potential risks, assesses their potential impact and
develops strategies to mitigate the risks. Periodic follow-ups to
monitor the status of strategies/actions initiated to mitigate the
risks is also conducted. The Company has a Risk Management
Policy which is approved and reviewed by the Board from time to
time and has in place a mechanism to identify, assess, monitor,
and mitigate various risks to key business objectives which may
threaten the existence of the Company. Major risks identified by
the various functions are documented along with appropriate
mitigating controls on a periodic basis.
The Risk Management Policy acts as an overarching statement
of intent and establishes the guiding principles by which risks are
identified, assessed and mitigated across the organization. The
Board reviews the risks associated with the enterprise periodically
and oversees the implementation of various aspects of the Risk
Management Policy through a duly constituted Risk Management
Committee ("RMC"). The RMC assists Audit Committee/
the Board in its oversight of the Company''s management of
key risks, including strategic and operational risks, as well as
the guidelines, policies and processes for monitoring and
mitigating such risks under the aegis of the overall Enterprise Risk
Management ("ERM") Framework.
SECRETARIAL STANDARDS |
The Company has complied with the applicable Secretarial
Standards issued by the Institute of Company Secretaries of
India.
Vigil mechanism |
The Company is committed to conducting its business with
integrity, transparency, accountability and the highest standards
of ethical behaviour. In line with the requirements of Section 177
of the Act and Regulation 22 of the SEBI Listing Regulations, the
Company has established a Vigil Mechanism/Whistle Blower
Policy to provide Directors, employees and other stakeholders,
where applicable, with a mechanism to report genuine concerns
relating to unethical behaviour, actual or suspected fraud,
violation of the Company''s Code of Conduct or any other
misconduct.
The Policy provides adequate safeguards against victimization
of persons who avail of the mechanism and ensures direct
access to the Chairman of the Audit Committee in appropriate
or exceptional cases. The Company affirms that no person
has been denied access to the Audit Committee. The Whistle
Blower Policy is available on the Company''s website and can
be accessed at https://nephroplus.com/api/assets/investors/
disclosures-under-reg-46/policies-and-code-of-conduct/NP_
Whistle_Blower_Policy_1.pdf.
No complaints were received under the Vigil Mechanism/Whistle
Blower Policy during the financial year 2025-26. Accordingly,
no matter was required to be investigated or placed before the
Audit Committee for consideration under the said mechanism.
CORPORATE SOCIAL RESPONSIBILITY: |
The Board has constituted a CSR Committee and has a well-
defined policy on CSR as per the requirement of Section 135
of the Act, which covers the activities as prescribed under
Schedule VII of the Act. The details about the CSR Committee
are provided in the Corporate Governance Report, which forms
part of this Report.
During the financial year 2025-26, the Company was required to
spend '' 2.09 million, i.e., 2% of average of the net profits of last
three financial years, on CSR activities and the actual CSR spent
during the financial year 2025-26 was '' 2.10 million.
The Annual Report on CSR Activities, pursuant to Section 134(3)
(o) of the Act, 2013 and Rule 9 of the Companies (Corporate
Social Responsibility Policy) Rules, 2014, forms part of this Report
as Annexure III.
The CSR policy of the Company is placed on the Company''s
website and can be accessed through the web link: https://
nephroplus.com/api/assets/investors/disclosures-under-
reg-46/policies-and-code-of-conduct/NP_CSR_Policypdf
POLICY ON PREVENTION OF SEXUAL HARASSMENT AT |
WORKPLACE
The Company is committed to providing a safe, secure and
inclusive work environment that is free from discrimination and
harassment. In compliance with the provisions of the Sexual
Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) Act, 2013 ("POSH Act") and the rules framed
thereunder, the Company has adopted a Policy on Prevention,
Prohibition and Redressal of Sexual Harassment at Workplace.
The Company has constituted Internal Committees at its
locations in accordance with the requirements of the POSH
Act. To ensure an independent and fair grievance redressal
mechanism, Ms. Renuka Chekkala, an external member
possessing the requisite expertise and experience in handling
matters relating to workplace harassment, has been appointed
to the Internal Committees.
The Company regularly conducts awareness and sensitization
programmes, including induction sessions and periodic training
initiatives, to promote a respectful workplace culture and
enhance awareness regarding the provisions of the POSH Act.
The details of the number of cases fi led under sexual harassment
and their disposal, during the financial year 2025-26 is as under:
⢠No. of Complaints received: NIL
⢠No. of Complaints disposed of: NIL
⢠No. of cases pending for more than 90 days: NIL
⢠Number of workshops or awareness programmes against
sexual harassment carried out: The Company regularly
conducts necessary awareness programmes for its
employees and all employees are provided detailed
education during the induction.
⢠Nature of action taken by the employer or district officer:
Not applicable
rELated party transactions I
In compliance with the provisions of the Act and the SEBI Listing
Regulations, as amended from time to time, the Company has
adopted a Policy on Related Party Transactions ("RPT Policy")
to establish a governance framework for the identification,
review, approval, monitoring and reporting of related party
transactions. The RPT Policy is available on the Company''s
website and can be accessed at: https://nephroplus.com/api/
assets/investors/disclosures-under-reg-46/policies-and-code-
of-conduct/20260512_NephroPlus_Revised_RPT_policy_1.1.pdf
All related party transactions entered into during the financial
year 2025-26 were in the ordinary course of business and on an
arm''s length basis and were approved by the Audit Committee
and/or the Board of Directors, wherever required, in accordance
with the applicable provisions of the Act and the SEBI Listing
Regulations.
To facilitate efficient conduct of business operations, the Audit
Committee grants omnibus approvals for repetitive related party
transactions that are in the ordinary course of business and on
an arm''s length basis, subject to the criteria prescribed under
applicable laws and the RPT Policy. A consolidated statement
of all related party transactions undertaken pursuant to such
omnibus approvals is placed before the Audit Committee on a
quarterly basis for its review and oversight.
During the financial year under review, the Company did not enter
into any material related party transaction requiring approval
of the shareholders under the Act or Regulation 23 of the SEBI
Listing Regulations. Since all related party transactions were
entered into in the ordinary course of business and on an arm''s
length basis, the disclosure in Form AOC-2 pursuant to Section
134(3)(h) of the Act read with Rule 8(2) of the Companies
(Accounts) Rules, 2014 is not applicable.
Pursuant to Regulation 23 of the SEBI Listing Regulations, the
Company submits disclosures of related party transactions
to the Stock Exchanges in the prescribed format within the
stipulated timelines. Details of related party transactions
entered into during the financial year are disclosed in the notes
forming part of the Financial Statements.
Further, during the year under review, there were no materially
significant related party transactions that could have had a
potential conflict with the interests of the Company at large.
AUDITORS I
STATUTORY AUDITORS
M/s. B S R and Co, Chartered Accountants (FRN: 128510W),
was appointed as the Statutory Auditors of the Company for a
term of five years from the conclusion of the 15th AGM held on
September 30, 2024, until the conclusion of the 20th AGM of the
Company to be held in 2029, in accordance with Sections 139
and 142 of the Act, read with the rules made thereunder.
The Statutory Auditors have issued their reports on the
standalone and consolidated financial statements of the
Company for the financial year ended March 31, 2026. The
Auditors'' Reports forms part of the Annual Report.
The Auditors have expressed an unmodified opinion on the
financial statements and confirmed that the standalone and
consolidated financial statements give a true and fair view of the
state of affairs, financial performance, changes in equity and
cash flows of the Company/Group for the year under review.
The Auditors'' Reports for FY 2025-26 do not contain any
qualification, reservation, adverse remark, or disclaimer. The
reports are self-explanatory and do not call for any further
comments by the Board.
Further, in terms of section 143 of the Act read with the
Companies (Audit and Auditors) Rules, 2014, as amended,
notifications / circulars issued by the Ministry of Corporate Affairs
from time to time, no fraud has been reported by the Auditors of
the Company where they have reason to believe that an offence
involving fraud is being or has been committed against the
Company by officers or employees of the Company.
SECRETARIAL AUDITORS
Pursuant to the provisions of Section 204 of the Act read
with the rules made thereunder, the Board of Directors, at its
meeting held on January 05, 2026, approved the appointment
of M/s. Makarand M. Joshi & Co., Practising Company Secretaries,
Mumbai (Firm Registration No. P2009MH007000; Peer Review
Certificate No. 6832/2025) as the Secretarial Auditors of the
Company for a term of five (5) consecutive financial years,
commencing from April 01, 2025 and ending on March 31, 2030,
on such terms and remuneration as may be mutually agreed
between the Company and the Secretarial Auditors. The said
appointment was subsequently approved by the Members of
the Company through a Postal Ballot Notice dated January 05,
2026, the results of which were declared on February 06, 2026.
The Secretarial Audit Report issued by M/s. Makarand M. Joshi &
Co. for the fi nancia l yea r ended Ma rch 31, 2026 is annexed to this
Report as Annexure IV.
There are no qualifications, reservations, adverse remarks or
disclaimers in the Secretarial Auditors'' Report.
Further, during the year under review, the Secretarial Auditors
have not reported any matter under Section 143(12) of the Act,
and hence no disclosures are required under Section 134(3)(ca)
of the Act as the provisions were not applicable.
INTERNAL AUDITORS |
For the financial year 2025-26, the Board appointed M/s. BDO
India LLP, Chartered Accountants, as the Internal Auditors of
the Company. The Internal Auditors carry out periodic reviews
of the Company''s operations and internal control systems.
Their reports, containing observations and recommendations
for strengthening processes and controls, was considered
by the Board for necessary action. The Board monitors the
implementation of these recommendations to ensure that a
sound and effective internal control framework is maintained
across the Company.
MAINTENANCE OF COST RECORDS |
During the financial year ended March 31, 2026, the provisions
relating to the maintenance of cost records as prescribed by the
Central Government under Section 148(1) of the Act read with
the Companies (Cost Records and Audit) Rules, 2014 were not
applicable to the Company. Accordingly, the Company was not
required to maintain cost records or conduct a cost audit during
the year under review.
INTERNAL FINANCIAL CONTROLS AND ITS ADEQUACY
The Company has in place an adequate internal financial
control framework with reference to financial and operating
controls thereby ensuring orderly and efficient conduct of
its business, including adherence to the Company''s policies,
safeguarding of its assets, prevention and detection of frauds
and errors, accuracy and completeness of accounting records,
and timely preparation of reliable financial information. During
Financial Year 2025-26, the financial controls are tested for
operating effectiveness through ongoing monitoring and review
process by the management and also independently by the
Internal Auditor during the audit reviews. Where weaknesses
are identified as a result of the reviews, new procedures are put
in place to strengthen controls and these are in turn reviewed
at regular intervals. Based on the review, nothing has come
to the attention of the Directors to indicate that any material
breakdown in the function of these controls, procedures
or systems occurred during the year. The Directors in their
responsibility statement confirmed the same.
PARTICULARS of loans, guarantees or I
INVESTMENTS
The particulars of loans, guarantees, securities and investments
covered under the provisions of Section 186 of the Act, as
applicable, made during the financial year ended March 31, 2026,
a re disclosed in the notes to the sta nda lone fi nancia l statements,
specifically Note Nos. 9.1, 9.2, 20, 23 and 40, forming part of this
Annual Report.
DEPOSITS I
The Company has not accepted any deposits covered under
Chapter V of the Act and as such, no amount of principal or
interest was outstanding as on March 31, 2026.
subsidiaries, joint venture and associate |
COMPANIES
As on March 31, 2026, the Company had 25 subsidiaries, including
step-down subsidiaries, and one Joint Venture. The Company
did not have any associate company during the financial year
under review.
During the financial year under review, Nephrocare Health
Services Saudi Arabia Company ("NHSSAC"), an indirect
wholly-owned subsidiary of the Company held through
Nephrocare Health Services International Pte. Ltd., Singapore,
underwent a change in its relationship with the Company
pursuant to the Share Purchase Agreement dated November
20, 2025 entered into amongst Arabian International Healthcare
Holding Company, Nephrocare Health Services International
Pte. Ltd., Nephrocare Health Services Saudi Arabia Company
and the Company, together with the related Joint Venture
Agreement. Pursuant to the said transaction, Nephrocare
Health Services International Pte. Ltd. divested 49% of its
shareholding in NHSSAC to Arabian International Healthcare
Holding Company, while retaining the balance 51% shareholding.
Consequently, the governance and management rights of
NHSSAC were restructured to provide joint control to the
shareholders in accordance with the terms of the Joint Venture
Agreement. Accordingly, NHSSAC ceased to be a subsidiary
and became a Joint Venture of the Company in accordance
with the applicable provisions of the Act and the applicable
Indian Accounting Standards. For the purpose of consolidation
and financial reporting, NHSSAC has been considered as a
subsidiary for the period from April 01, 2025 to December 31,
2025 and as a Joint Venture for the period from January 01, 2026
to March 31, 2026, and has been accounted for accordingly in
the Consolidated Financial Statements.
During the financial year under review, Nephrocare Health Care
Services Philippines Inc. ("NHCSP") and Nephrocare Health
Services International Pte. Ltd. ("NHSIP"), Singapore, were
identified as material subsidiaries of the Company in accordance
with the provisions of the SEBI Listing Regulations, 2015 and the
Company''s Policy on Material Subsidiaries. In order to strengthen
the governance framework of these material subsidiaries, Dr Ajay
Bakshi and Ms. Annette Kumlien, Independent Directors of the
Company, were appointed to the Boards of NHCSP and NHSIP,
respectively.
CONSOLIDATED FINANCIALS |
The Consolidated Financial Statements of the Company for
the financial year ended March 31, 2026 have been prepared in
accordance with the applicable provisions of the Act, the Indian
Accounting Standards (Ind AS) prescribed under Section 133 of
the Act read with the Companies (Indian Accounting Standards)
Rules, 2015 and other applicable accounting principles. Pursuant
to the provisions of Section 129(3) of the Act read with Rule 5
of the Companies (Accounts) Rules, 2014, the Consolidated
Financial Statements of the Company, together with those of
its subsidiaries and Joint Venture, form an integral part of this
Annual Report. A statement containing the salient features of
the financial statements of the Company''s subsidiaries and Joint
Venture in Form AOC-1 is annexed to this Report as Annexure V.
In accordance with the provisions of Section 136 of the Act,
the standalone and consolidated financial statements of
the Company, together with the financial statements of its
subsidiaries, Joint Venture and all other documents required to
be attached thereto, are available on the Company''s website at
www.nephroplus.com/investors.
CHANGE IN ACCOUNTING POLICY, IF ANY
There was no change in the accounting policy during the financial
year.
PArticulars Of conservation Of energy, |
TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
Particulars with respect to Conservation of Energy, Technology
Absorption and Foreign Exchange Earnings and Outgo as
required under Section 134 of the Act read with the Companies
(Accounts) Rules, 2014 are given in Annexure VI attached hereto
and forms part of this report.
eMPloyee stock option scheme I
The Company has in place the NephroPlus Employee Stock
Option Scheme, 2011 ("ESOP 2011"), which was approved by
the Board of Directors and the Shareholders on November 22,
2011, with the objective of attracting, motivating, rewarding
and retaining talented employees and aligning their long-term
interests with the sustainable growth of the Company. The
Scheme is administered by the Nomination and Remuneration
Committee of the Board.
As part of the Company''s transition to a listed entity, the ESOP
2011 underwent a comprehensive review during the year. Based
on the recommendations of the Nomination and Remuneration
Committee, the Board of Directors at its meeting held on
July 16, 2025 approved amendments to align the Scheme
with the provisions of the Act and the SEBI (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021 ("SBEB
Regulations"). The amended Scheme was approved by the
shareholders at the General Meeting held on July 25, 2025.
During the year, pursuant to the subdivision of the equity shares
of the Company from a face value of '' 10 each to '' 2 each and the
bonus issue approved by the shareholders, suitable adjustments
were carried out under the ESOP 2011 in accordance with the
Scheme and the SBEB Regulations. Consequently, the exercise
price of all outstanding options and the number of options
available for future grants as well as the outstanding unexercised
options were proportionately adjusted so that the intrinsic value
and economic benefits available to the option holders remained
unchanged.
Following the listing of the Company''s equity shares on the BSE and
NSE, the Company obtained the requisite in-principle approvals
from the Stock Exchanges for listing of the equity shares arising out
of exercise of options granted under the ESOP 2011.
As on the date of the Prospectus, the Company had granted an
aggregate of15,390,405 options, of which 9,537,000 options had
been exercised and 1,922,040 options had vested but remained
unexercised, reflecting the continued utilization of the Scheme
as a long-term employee ownership and retention programme.
The disclosures required under Section 62 of the Act read with
Rule 12 of the Companies (Share Capital and Debentures) Rules,
2014 and Regulation 14 of the SBEB Regulations is made available
on Company''s website at https://nephroplus.com/api/assets/
investors/disclosures-under-reg-46/annual-general-meeting/
ESOP_Annexure.pdf.
The certificate issued by M/s. Makarand M. Joshi & Co., Practising
Company Secretaries, Secretarial Auditor of the Company,
confirming that the ESOP 2011 has been implemented in
accordance with the applicable provisions of the Act and the
SBEB Regulations, will be available for inspection by the Members
at the ensuing AGM of the Company.
CORPORATE GOVERNACE |
The Company remains committed to maintaining the highest
standards of corporate governance and believes that sound
governance practices are integral to sustainable business
growth, ethical conduct and long-term value creation for all its
stakeholders. During the applicable period under review, the
Company has complied with the applicable provisions of the Act
and SEBI Listing Regulations relating to corporate governance.
Pursuant to Regulation 34(3) read with Schedule V of the SEBI
Listing Regulations, a detailed Report on Corporate Governance,
together with the requisite certificate from the Secretarial
Auditors of the Company confirming compliance with the
conditions of Corporate Governance, forms part of this Annual
Report as Annexure VII.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE |
REGULATORS/COURT
During the year under review, no significant and material orders
have been passed by the Regulators or Courts or Tribunals
impacting the going concern status and operations of the
Company.
MATERIAL CHANGES AND COMMITMENTS |
Other than the developments mentioned above, there were no
other material changes and commitments, affecting the financial
position of the Company which occurred between the end of the
financial year March 31, 2026 to which the financial statements
relate and the date of signing of this report.
During the year, there is no application made or any proceeding
pending on the Company, under the Insolvency and Bankruptcy
Code, 2016.
COMPLIANCE WITH THE MATERNITY BENEFIT ACT, 1961 |
The Company has complied with the provisions of the Maternity
Benefit Act, 1961, including all applicable amendments and rules
framed thereunder. The Company is committed to ensuring a
safe, inclusive, and supportive workplace for women employees.
All eligible women employees are provided with maternity
benefits as prescribed under the Maternity Benefit Act, 1961,
including paid maternity leave, nursing breaks, and protection
from dismissal during maternity leave.
The Company also ensures that no discrimination is made in
recruitment or service conditions on the grounds of maternity.
Necessary internal systems and HR policies are in place to
uphold the spirit and letter of the legislation.
GENDER-WISE COMPOSITION OF EMPLOYEES I
In alignment with the principles of diversity, equity, and inclusion
(DEI), the Company discloses below the gender composition of
its workforce as on March 31, 2026.
|
Male employees |
1,349 |
|
Female employees |
945 |
|
Transgender Employees |
0 |
This disclosure reinforces the Company''s efforts to promote
an inclusive workplace culture and equal opportunity for all
individuals, regardless of gender.
DETAILS OF DIFFERENCE BETWEEN THE AMOUNT
OF THE VALUATION DONE AT THE TIME OF ONE-TIME
SETTLEMENT AND THE VALUATION DONE WHILE TAKING
LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS
ALONG WITH THE REASONS THEREOF
The Company has availed loans from banks/financial institutions
in the ordinary course of its business; however, during the
fina ncia l yea r u nder review, the Compa ny has not entered into a ny
One Time Settlement (OTS) with any banks or financial
institutions. Accordingly, the disclosure requirements under
Rule 8(5)(xii) of the Companies (Accounts) Rules, 2014 are not
applicable.
INVESTOR EDUCATION AND PROTECTION FUND ("IEPF") |
As on the date of this Annual Report, there is no amount of
unpaid or unclaimed dividend that is required to be transferred
to the Investor Education and Protection Fund (IEPF) under
the provisions of the Companies Act, 2013 and the Investor
Education and Protection Fund Authority (Accounting, Audit,
Transfer and Refund) Rules, 2016.
OTHER STATUTORY DISCLOSURES I
The Board of Directors state that no disclosure or reporting is
required with respect to the following items as there were no
transactions related to these items during the year under review:
a. Issue of equity shares with differential rights as to dividend,
voting or otherwise.
b. Issues of sweat equity shares.
c. Provision of money for purchase of its own shares by
employees or by trustees for the benefit of employees.
ACKNOWLEDGEMENTS |
The Board of Directors take this opportunity to thank all the
stakeholders of the Company for their continued support and
express their sense of gratitude to the guests, vendors, banks,
financial institutions, channel partners, business associates,
Central and State Governments for their co-operation and
look forward to their continued support in future. The Board
of Directors wish to place on record their sincere appreciation
for the contribution made by the employees at all levels and
applaud them for their dedication and commitment towards the
Company.
For and on behalf of the Board of Directors
For Nephrocare Health Services Limited
(formerly Nephrocare Health Services Private Limited)
Sd/-
Vikram Vuppala
May 19 2026 Chairman & Managing Director
Hyderabad DIN: 02847323
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Nephrocare Health Services Ltd. ಹೆಚ್ಚಿನ ಮಾಹಿತಿ
-
Nephrocare Health Services Ltd. ಟೂಲ್ಸ್
- ಬಲ್ಕ್ ಡೀಲ್ಸ್
-
Nephrocare Health Services Ltd. ಕಂಪನಿಯ ವಿವರಗಳು
- ಕಂಪನಿ ಪ್ರೋಫೈಲ್
- ಕಂಪನಿ ಇತಿಹಾಸ
- ಆಡಳಿತ ಮಂಡಳಿ
- ಬಂಡವಾಳದ ಬಗೆ
- ಉತ್ಪನ್ನ
- ಬ್ಯಾಂಕರ್ಸ್/ಅಡಿಟರ್ಸ್/ರೆಜಿಸ್ಟರ್ಸ್
-
ಕಂಪನಿ ಇತಿಹಾಸ
- ಬಿಎಸ್ಇ ಧಾರಣೆ ಇತಿಹಾಸ
- ಎನ್ಎಸ್ಇ ಧಾರಣೆ ಇತಿಹಾಸ
-
Nephrocare Health Services Ltd. ಹಣಕಾಸು ಅನುಪಾತದ ಲೆಕ್ಕ
- ಅನುಪಾತ
-
Nephrocare Health Services Ltd. ಫಲಿತಾಂಶ
- ತ್ರೈಮಾಸಿಕ ಫಲಿತಾಂಶ
- ಅರ್ಧವಾರ್ಷಿಕ ಫಲಿತಾಂಶ
- ಒಂಭತ್ತು ತಿಂಗಳ ಫಲಿತಾಂಶ
- ವಾರ್ಷಿಕ ವರದಿ
-
Nephrocare Health Services Ltd. ಹಣಕಾಸು ಡಾಟಾ
- ಅಡಿಟ್ ಫಲಿತಾಂಶ
- ಹಣದ ಹರಿವು
- ಬ್ಯಾಲೆನ್ಸ್ ಶೀಟ್
-
Nephrocare Health Services Ltd. ವರದಿಗಳು
- ಅಕೌಂಟಿಂಗ್ ಪಾಲಿಸಿ
- ಅಡಿಟರ್ಸ್ ವರದಿ
- ನಿರ್ದೇಶಕರ ವರದಿ
- ಖಾತೆಗೆ ಮುಖ್ಯ ವಿಚಾರ
-
Nephrocare Health Services Ltd. ಕಾರ್ಪೋರೇಟ್ ವರದಿಗಳು
- ಬುಕ್ ಕ್ಲೋಸರ್
- ಬೋರ್ಡ್ ಮೀಟಿಂಗ್
-
ಫೆಡ್ ನಿರ್ಧಾರದ ಬಿಸಿ: ಇಂದಿನ ವಾರದ ಎಕ್ಸ್ಪೈರಿಯಲ್ಲಿ ಷೇರು ಮಾರುಕಟ್ಟೆ ಏರಿಳಿತದ ಭೀತಿ! -
ನಿಫ್ಟಿ ಕುಸಿತ: ಮಾರುಕಟ್ಟೆಯ ಈ ಅಸ್ಥಿರತೆಯಲ್ಲೂ ಲಾಭ ಗಳಿಸಲು ಇಲ್ಲಿವೆ ಬೆಸ್ಟ್ ಇನ್ವೆಸ್ಟ್ಮೆಂಟ್ ಟಿಪ್ಸ್ -
ಬ್ಯಾಂಕ್ ನಿಫ್ಟಿ ಎಕ್ಸ್ಪೈರಿ: ಇಂದಿನ ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಭಾರಿ ಏರಿಳಿತದ ಸುಳಿವು, ಹೂಡಿಕೆದಾರರು ಎಚ್ಚರ ವಹಿಸಬೇಕಾದ್ದು ಏಕೆ? -
ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಇಂದು ಭಾರಿ ಸಂಚಲನ: ನಿಫ್ಟಿ ಮತ್ತು ಈ ವಲಯಗಳ ಮೇಲೆ ಹೂಡಿಕೆದಾರರ ಕಣ್ಣು! -
ಬೆಳ್ಳಿ ಆಮದು ನಿಯಮದಲ್ಲಿ ದಿಢೀರ್ ಬದಲಾವಣೆ: ಇಂದಿನ ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಈ ಷೇರುಗಳ ಮೇಲೆ ಕಣ್ಣಿಡಲೇಬೇಕು! -
ಸೋಮವಾರದ ಮಾರುಕಟ್ಟೆ: ನಿಫ್ಟಿ ಮೇಲೆ Q4 ಫಲಿತಾಂಶಗಳ ಅಬ್ಬರ, ಹೂಡಿಕೆದಾರರು ಎಚ್ಚರ ವಹಿಸಬೇಕಾದ ಸಮಯ! -
ತೈಲ ಬೆಲೆ ಏರಿಕೆ ಬಿಸಿ: ಇಂದಿನ ಷೇರು ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಹೂಡಿಕೆದಾರರಿಗೆ ಕಾದಿದೆ ಅಗ್ನಿಪರೀಕ್ಷೆ! -
ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಇಂದೇ 'ರೋಲರ್-ಕೋಸ್ಟರ್' ರೈಡ್: ಸಿಪಿಐ ದತ್ತಾಂಶದ ಮುನ್ನ ಹೂಡಿಕೆದಾರರು ಎಚ್ಚರ ವಹಿಸಬೇಕೇಕೆ? -
ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಏರಿಳಿತದ ಆತಂಕ: ಇಂದಿನ ವಹಿವಾಟಿನಲ್ಲಿ ಹೂಡಿಕೆದಾರರು ಎಚ್ಚರ ವಹಿಸಬೇಕಾದ ಪ್ರಮುಖ ಅಂಶಗಳಿವು! -
ಷೇರು ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಇಂದು ಅನಿಶ್ಚಿತತೆ: ತೈಲ ಬೆಲೆ ಏರಿಕೆಯ ಬಿಸಿ ಯಾರಿಗೆ ತಟ್ಟಲಿದೆ? -
ಷೇರು ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಭರ್ಜರಿ ಆರಂಭದ ನಿರೀಕ್ಷೆ: ಹೂಡಿಕೆದಾರರ ಪಾಲಿಗೆ ಇಂದು ಅದೃಷ್ಟದ ದಿನವೇ? -
ಇಂದಿನ ಷೇರು ಮಾರುಕಟ್ಟೆ: ಎಕ್ಸ್ಪೈರಿ ದಿನದಂದು ನಿಮ್ಮ ಹಣಕ್ಕೆ ಕಾದಿದೆ ದೊಡ್ಡ ತಿರುವು! -
ರಿಲಯನ್ಸ್ ಫಲಿತಾಂಶದ ಹೊಸ್ತಿಲಲ್ಲಿ ನಿಫ್ಟಿ: ಇಂದಿನ ಮಾರುಕಟ್ಟೆ ಏರಿಳಿತಕ್ಕೆ ನೀವೇ ಸಿದ್ಧರಿದ್ದೀರಾ? -
ಷೇರು ಮಾರುಕಟ್ಟೆ ರಜೆ ಮುಗಿದು ಬುಧವಾರವೇ ಭರ್ಜರಿ ಏರಿಳಿತ? -
Stock Market Crash: ವಾರಾಂತ್ಯದಲ್ಲೂ ಷೇರು ಮಾರುಕಟ್ಟೆ ಕುಸಿತ; ಹೂಡಿಕೆದಾರರ ನಿದ್ದೆಗೆಡಿಸಿದ ಮಧ್ಯಪ್ರಾಚ್ಯದ ಯುದ್ಧ -
Stock Market Crash: ಮತ್ತೆ ಷೇರು ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ತಲ್ಲಣ; ಸೆನ್ಸೆಕ್ಸ್ 1000 ಪಾಯಿಂಟ್ಸ್ ಕುಸಿತ
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