My Heartiest congratulation as India is celebrating “G20 Presidency in India, as it moment of pride for 130 crore Indians.” The theme of India’s G20 Presidency – “Vasudhaiva Kutumbakam” or “One Earth One Family One Future” – is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth and in the wider universe.
M“India’s G20 Presidency will work to promote this universal sense of one-ness. Hence our theme - ‘One Earth, One Family, One Future’” – PM Narendra Modi.
MDrawing inspiration from the collaborative essence of the G20 Summit, I stand before you to highlight our company’s remarkable progress and unwavering dedication to our shareholders.
MI have great pleasure in welcoming you to the 40th Annual General Meeting (AGM) of HSCC (India) Limited. The Directors’ Report and the audited Balance Sheet of your Company along with Statutory Auditor’s Report and comments of Comptroller and Auditor General of India thereon, for the period ended 31st March,2023 have already been shared with you. With your permission, I take them as read.
To begin with let me delve upon performance of your company during FY 2022-23 and the key factors leading to the financial performance. HSCC is a profit making company. During the FY 2022-23, HSCC continued to profit making company. Since taking over by NBCC in 2018-19, the Profit After Tax (PAT) has been Rs.37.63 crore in FY 2019-20, Rs. 9.82 crore in FY 2020-21, Rs. 25.17 crore in FY 2021-22 & Rs. 22.67 crore in FY 2022-23; The Company has posted positive net worth since its inception.
HSCC is paying dividend from last 38 year. During the last three years dividend paid are Rs. 25.00 crore in FY 2019-20, Rs.5.89 crore in FY 2020-21 and Rs. 6.18 crore in FY 2021-22. The final dividend of Rs. 451/- per paid up equity share capital amounting to Rs. 8.12 crore, is proposed for F.Y.2022-23.
During the year, HSCC has successfully completed projects of national importance like (i) Falkawn Aizawl (Mizoram), (ii). ESIC, Siliguri, PGCIL (Power Grid), (iii). Dwarka, New Delhi, (iv) CSIRIHBT, PalamPur, (v) PG Hostel Tanda, (H.P.) (vi) AIIMS Bilaspur, Boundary Wall, (vii). PGCIL, Luknow, (viii) Regional Cancer Centre at NEIGRIHMS-Shillong, Cancer Hospital at Mauritius etc.
HSCC is an ISO 9001:2015 certified Company & has a rich and diversified experience of around four decades in healthcare-infra. HSCC is pioneer in implementing specialised healthcare & allied projects. Over the years, HSCC has created a special niche in Health care Consulting. Its comprehensive expertise includes Healthcare institutions such as Hospital & Medical colleges Planning, Design, detailed Engineering, Project Management, Quality Control as well as Procurement, Supply, Installation and Commissioning of Medical Equipment. HSCC is capable to provide end-to-end multi-disciplinary support: from feasibility study and tender documentation to procurement and project management encompassing civil, electrical, HVAC, IT, Bio-medical and auxiliary areas in healthcare sector under single roof.
The Health care space has become increasingly competitive with increased participation from private and public sector players. This is creating downward pricing pressure and affecting margins. However, emerging opportunities in healthcare are far bigger. There is a dearth of hospitals, beds, doctors, and other medical facilities and talent in the Country. The Government is determined to bridge this gap with a massive push to enhance and upgrade the entire health care sector; with target of providing healthcare facilities to all citizens of the Country. This includes creation of new facilities as well as re-development and up-gradation of existing hospitals across the country. The demand from private sector in healthcare is also witnessing a renewed surge as more domestic and international players enter the fray. Another unfolding opportunity is in overseas countries in the SAARC region, which are also looking at a huge push in healthcare. HSCC being a pioneer in providing varied range of healthcare consultancy is poised to attain new heights with this development and aim to bag a big chunk of these projects in near future.
Major On-going Domestic Projects during the year are AIIMS-Manglagiri, Andhra Pradesh, AIIMS-Rajkot, GMC Jalgaon, Gujarat, Govt. Medical College at Chandrapur, Maharashtra, Advanced Neurosciences Centre at PGIMER, Chandigarh, New Medical Colleges at various locations of Rajasthan, , Meghalaya, Hostel Block at RML Hospital, New Delhi, Various additional facilities at RIMS-Imphal, Manipur, Critical Care Blocks at NEIGRIHMS, Shillong & Imphal etc.
Major Ongoing International Projects are Construction of Teaching Hospital at Flacq, Eye Hospital, Renal Hospital and Medi-clinics projects at various locations in Mauritius.
With the Government’s renewed focus on boosting the country’s Health infrastructure, HSCC is poised for a sustained phase of growth and expansion in Health care infrastructure.
During the Year, HSCC has secured new Projects, viz.
(i) Cancer Hospital Equipment, Mauritius, (ii) Critical Care Hospital, Himachal, (iii) Furniture for cancer Hospital, Mauritius, (iv) Furniture for Flacq Teaching Hospital, Mauritius, (v).Construction of area HealthCentre at Henrietta, (vi). Augmentation of Infrastructure of LHMC, New Delhi, (vii) AIIMS Service Block, (viii) Additional work at AIIMS Kalyani, (ix) Ayush Hospital at Mauritius, (x)Construction of 100 intakeMedical College at Nashik, Maharashtra, etc
HSCC has secured orders worth around Rs. 1,211 crore during the FY 2022-23.
Your Company has complied with Corporate Governance norms as stipulated by DPE Guidelines falling within its ambit. For more details, you may refer to Report on Corporate Governance which forms part of Directors’ Report. I would also like to inform you that during this year, Comptroller & Auditor General of India (CAG) has made NIL observations on the Annual Accounts of the Company for the year 2022-23. HSCC has always believed in the highest standards of Corporate Governance and adheres to the same. The Company made commendable progress in upgrading the skill set of the employees during the year. HSCC has committed and dedicated workforce guided by highly-experienced leadership team that ensures it’s continued progress and consistent performance. I also place on record my sincere appreciation and thanks to the officials of various State and Central Ministries, Government of Mauritius, Board Members of HSCC, C&AG, other Organizations and regulatory bodies for their unstinted support, guidance and co-operation extended to HSCC. It will certainly be our endeavour to put in our best efforts for sustained growth, expansion and prosperity of the company benefitting all stakeholders in times to come. My sincere thanks to all our Agencies and Vendor partners, without whose help the Company would not have been able to deliver stellar execution of projects, and most importantly to each employee of HSCC for theircommitment and unflinching effort. I would also like to thank all our shareholders, stakeholders and bankersfor their sustained faith and trust in HSCC and assure you of best ever
