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DIRECTOR'S REPORT

Sunil Healthcare Ltd.

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Market Cap. (₹) 15.84 Cr. P/BV 0.34 Book Value (₹) 45.61
52 Week High/Low (₹) 60/15 FV/ML 10/1 P/E(X) 0.00
Bookclosure 27/09/2019 EPS (₹) 0.00 Div Yield (%) 0.00
Year End :2018-03 

TO THE MEMBERS OF SUNIL HEALTHCARE LIMITED

The Directors have great pleasure in presenting the 44th Annual Report on the business and operations together with the audited financial statement of your Company for the year ended31stMarch 2018.

FINANCIAL RESULTS (Rs. in Lacs)

Particulars

Standalone

Consolidated

2017-18

2016-17

2017-18

Revenue from Operation

9050.50

10894.62

9162.23

Other Income

200.13

137.07

222.66

Total Revenue

9250.63

11031.69

9384.89

Total Expenditure (Excluding Depreciations & Interest)

7580.32

9332.30

7772.49

Profit before depreciation and Finance Cost

1670.51

1699.39

1612.40

Finance Cost

503.05

418.22

503.05

Depreciation

478.25

433.43

478.26

Profit before tax

689.01

847.74

631.09

Less: - Tax Expenses Net

156.62

285.82

181.70

Profit after Tax

532.39

561.92

499.39

Earning Per Shares

5.19

5.48

4.38

COMPANY OVERVIEWAND STATE OF COMPANY’S AFFAIRS

The Directors of the Company are glad to inform you that your company is 2nd largest producer of Empty Hard Gelatin Capsules (EHGC) in India and Pioneer in double lock and triple lock technology for capsules in India. The Company had started production of HPMC Capsule in August 2018 and in short span of time the sales brought in from HPMC have led to better performance. The Directors ofthe Company are proud to inform you all thatyour company has received a global recognition by Financial Times and Statistia wherein we have been included at 635th position in the top 1000 growing companies in the Asia Pacific Region-2018 based upon the data collected between the period 2013-2016.

Your company also have Global Presence with Subsidiaries in USA and Mexico during the year. The company is WHO-GMP certified Company and has also been recognized as “Star Export House” by GOI. The management is optimistic about the future outlook of the company in short, medium and long-term. The Company deals in Business segment of Manufacturing Hard Gelatin Capsule Shells and the size available is 00,0SEL, 0EL, 0,1,2,3,4,5.This segment the company has reached to installed capacity of 11952 million capsules at the existing facility. Our Presence in Over 30 Countries across the Globe. The management of the company Continued focus on achieving cost optimization and yield improvements through Economies of Scale. The company also renewed interest in the business with an aim to become top 3 manufactures of Empty Hard Gelatin Capsules in world.

The Company has forayed into the Food Business. Sunlocfood is a division of Sunil Healthcare Limited. Sunloc foods offer a host of product ranging from food products, procurement of raw and processed Edible Nuts e. g, cashew nuts, almonds, pistachios, walnuts etc. We have earned the reputation of providing excellent quality in all our products and high levels of value for money satisfaction and also strong customer’s relationship. Sunloc foods is equipped to handle a variety of requirements and delivers straight to customers location anywhere in the world confirming to international quality standards.

Financial Performance:

During the F.Y. 2017-18 (standalone) the Company had reported Turnover of Rs. 9050 lakhs . Revenue from Operation is Rs. 9050 lakhs in 2017-18 against Rs. 10895Lakhs in the F.Y. 2016-17. Revenue decreased by 16.93%, Profit before depreciation, Finance Cost decreased by 1.69%, Profit before Tax decreased by 18.75%and Profit afterTax decreased by 5.33% as compared tofinancial year2016-17

During the F.Y. the Company had reported on a consolidated basis, the total revenue from the operation is Rs. 9162.23 Lakh, Profit before depreciation and Finance Cost is Rs. 1612.40Lakh, Profit before tax is Rs. 631.09 and Profit after Tax is Rs 499.39 Lakh.

The Management of the Company is committed to improve the performance in the coming year to achieve better production, sales and profit by using the optimum product mix and explore new avenue to achieve overall growth of the Company. Further there is no change in the nature ofthe business of the company.

FOREIGN WHOLLY OWNED SUBSIDIARY AND SUBSIDIARYOF THE COMPANY

During the year the company set up a Wholly Owned Subsidiary namely “Sunil Healthcare North America LLC” in the United States ofAmerica on 26th July, 2016and a subsidiary namely “Sunil Healthcare Mexico SADE CV”“ in the city ofSan Luis Postosi, Mexico, United Mexican States on 1st February, 2017.

DETAILS OF SUBSIDIARIES PERFORMANCES

Pursuant to the provision of Section 129 (3) ofthe Companies Act 2013, a statement containing salient features of financial statement of subsidiaries in FORM AOC-1 is attached herewith and marked Annexure A. In accordance with section 136 of Companies Act 2013, the separate financial statements in respect of each ofthe subsidiary companies shall be kept open for inspection at the registered office of the Company during working hours for period of 21 days before the date of Annual General Meeting. Your Company will also make available these documents upon request by any member of the Company interested in obtaining the same.

EXPANSION OF THE PROJECT

The Company has completed to increase the production capacity of manufacturing of Empty Hard Gelatin Capsule from 11 billion to 13 billion p.a. in the fourth quarter of the financial year 2017-18. The incremental capacity has been commissioned in in the fourth quarter of the financial year 2017-18, which will result in increase in revenue of the company and margin as the company will increase economies of scale.

DIVIDEND

With a view to finance expansion from internal accrual for the growth of the Company, the directors of the Company do not recommended any dividend for the year ended March 31,2018.

SHARECAPITAL

The paid up Equity Share Capital of the Company as on March 31,2018 was Rs. 10,25,47,500. During the year under review the Company has neither issued any shares nor granted any stock options.

DIRECTORSAND KEY MANAGERIAL PERSONAL:

CESSATION

The Board of Directors of the Company on behalf of SHL family expressed their deep sorrow for the untimely death of. Mr. S.N. Balasubramanian on 20.11.2017. The Board Members also expressed their appreciation of the valuable contribution made by Mr. S.N. Balasubramanian towards the operation & growth of the Company in the capacity as an Independent Director of the Company.

Mr. Virendra Garg,AGM-Legal cum Company Secretary & Compliance officer has ceased his office with effect from October 14, 2017, due to resignation. The Board Members also expressed their appreciation of the valuable contribution made by Mr. Virendra Garg for the compliance Management and growth of the Company.

APPOINTMENT/RE-APPOINTMENT

Pursuant to the provisions of Section 152 of Companies Act 2013, Mr. B.P. Srinivasan, Non-Executive Director of the Company, is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, has offered herself for the re-appointment. The Board recommended his re-appointment.

During the year 2017-18, Mr. Rakesh Mohan was appointed as an Independent Director (DIN: 00114067) by the Shareholders in the43rd Annual General Meeting held on September26,2017, with effectfrom 11.11.2016.

Mr. Anil Kumar Khaitan, Chairman and Managing Director (DIN: 00759951), was re-appointed in the 43rd Annual General Meeting the Company for period of five years with effectfrom April 01,2017 to March 31,2022.

During the year Mr. Santosh Kumar Sharma was appointed as AGM Legal with effectfrom December 14,2018 and Company Secretary&Compliance Officer (KMP) with effect from February 12,2018.

DECLARATION BY INDEPENDENT DIRECTORS

During the reporting period, pursuant to the provisions of Section 149(7) of the Companies Act, 2013, all independent directors have given declaration that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and under Regulation 16(1)(b) of SEBI (Listing Obligation & Disclosure Requirement) Regulation, 2015.

NUMBEROF MEETING OF BOARD OF DIRECTORS

During the Financial Year 2017-18, the Board of Directors met out four times on 18.05.2017, 23.08.2017, 23.11.2017 and 12.02.2018. The details of attendance of each director at the Board Meeting are provided in the Corporate Governance Report, which is part of Annual Report.

MEETINGAND COMPOSITION OF COMMITTEES OF THE BOARD

The details of meetings, composition and attendance of each member of the committee at the committee meetings are provided in the Corporate Governance Report, which is part of the Annual Report.

During the year all the recommendations made by the Audit Committee were accepted by the Board

AUDITOR AND AUDITOR’S REPORT

STATUTORYAUDITOR

During the financial year 2017-18, pursuant to provisions of section 139 of the Companies Act, 2013 and Rules made thereunder, M/s Jitendra Kr. Agarwal &Associates, Chartered Accountants (registration No. 318086E), was appointed as Statutory Auditorof the company by the shareholders for a period of five years starting from conclusion of 43rd Annual General Meeting, which was held on September 26,2017 till the 48th AGM to be held in the year 2022.

The Auditors’ Report on standalone and consolidated financial statements for the year 2017-18 forming part of the Annual Report. The Auditors’ Report does not contain any qualifications, reservations, adverse remarks, disclaimer or emphasis of matter. Notes to the Financial Statements are self-explanatory and do not call for anyfurther comments.

SECRETARIAL AUDIT

Pursuant to provisions of section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed M/s ATCS & Associates, Company Secretaries, Jaipur as Secretarial Auditors of the Company for financial year 2017-18. The Secretarial Audit Report for the financial year ended March 31,2018 is annexed herewith and marked as Annexure B to this Report. The management Comments on observation made by the Secretarial Auditors is attached at last of the Annexure B. The Board has appointed M/s ATCS & Associates, Practicing Company Secretary, as Secretarial Auditor ofthe Company forthe financial year2018-19.

COSTAUDITOR

Pursuant to Section 148 of the Companies Act, 2013 read with The Companies (Cost Records and Audit) Amendment Rules, 2014, the maintenance of costaudit records is not applicable on the Company.

INTERNAL AUDITOR

Pursuant to Section 138 of the Companies Act, 2013 read with The Companies (Accounts) Rules, 2014, the Internal Audit Records maintained by the Company.

During the year2017-18, the Board has appointed Agarwal S. Lal&Co., Chartered Accountants as Internal Auditors to undertake the Internal Audit of the Company.

Further, the appointment of M/s. Agarwal S. Lal&Co., Chartered Accountants as Internal Auditors forfinancial year 2018-19 was approved by the Board upon the recommendation of the Audit Committee upon such terms and conditions as mutually agreed.

EXTRACT OF ANNUAL RETURN

The details forming part ofthe extract of the Annual Return in form MGT-9 is annexed herewith and marked as Annexure C.

FRAUD REPORTING

There were no frauds found which have been reported to the Audit Committee / Board members as well as to the Central Government.

PARTICULARS OF RELATED PARTYTRANSACTIONS

All the related party transactions which were repetitive in nature, entered on arm’s length basis in the ordinary course of business and compliance with Section 188(1) ofthe Companies Act 2013 read with rules made there under, Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions ofthe Law. During the year under review, no related party transaction as referred under Section 188 of the Companies Act, 2013 were entered except the transaction on an arm’s length basis and in the ordinary course of business. Particulars of all such contracts and arrangements with Related Parties are given in the prescribed Form AOC-2 as appended as Annexure D to this Report. There was no related party transaction which is in conflict with the interest of the Company. The policy on the Related Party Transaction are available on the website of the Company at link https://www.sunilhealthcare.com/wp-content/ uploads/ 2015/11/ RELATED PARTY TRANSACTION POLICY.pdf.

PARTICULARS OF EMPLOYEES:

Disclosures with respect to the remuneration of Directors, KMPs and employees as required under section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as Amendment from time to time appended as Annexure E to this Report.

Details of employee remuneration as required under provisions of section 197(12) ofthe Companies Act, 2013 read with Rule 5(2) & 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are available at the Registered Office of the Company during working hours for 21 days before the Annual General Meeting and shall be made available to any Shareholder on request.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, RESEARCH & DEVELOPMENT AND FOREIGN EXCHANGE

EARNINGS & OUTGO:

Information on conservation of Energy, Technology absorption, Foreign Exchange earnings and outgo required to be disclosed under Section 134 ofthe CompaniesAct, 2013 read with Companies (Accounts) Rules, 2014 are set out in a separate statement given in the Annexure ‘F’ forming part of this report.

INSURANCE AND RISK MANAGEMENT

During the Financial Year 2017-18, the assets ofthe Company were adequately insured against the loss of fire and earthquake.

In addition to this coverage, a statutory public liability insurance policy has been taken to cover by Companyfor providing against the public liability arising out of industrial accident for employees working in plant. The provision of Risk Management under Regulation 21 (5) of the SEBI (Listing Obligation & Disclosure Requirement), Regulation, 2015, is not applicable on the Company but the Company has constituted a Risk Management Committee in accordance with the erstwhile ListingAgreement and reconstituted it on February 12,2018 due to death of Mr. S.N. Balasubramanian. The Risk Management Committee consist of Mr. Ramesh Chander Khurana, Independent Director as Chairman and Mr. Sanjay Kaushik, Independent Director as Member. The Company has in place Risk Management System which takes care of risk identification, assessment and mitigation. There are no risks which in the opinion ofthe Board threaten the existence ofthe Company. Risk factors and its mitigation are covered extensively in the Management Discussion and Analysis Reportforming part of this Board’s Report.

CORPORATE SOCIAL RESPONSIBILITY

The main objective of the Company’s CSR policy is to lay down guidelines for the Company to make CSR a business process for sustainable development of the society at large. It aims to enhance and implement the society welfare measures by the Company in a well structural manner on short and long term basis with a vision of making Sunil Healthcare Limited to act as Good Corporate Citizen. CSR is an evolving concept at Sunil Healthcare Limited, it’s been there since incorporation, we have promised to ourselves to take up the responsibility of ensuring a healthy ecosystem. SHL’s CSR program is anchored on the continuing commitment to improve the quality of living conditions and opportunities for the differently able without regard to their faith, origin or gender. The composition and terms of reference of the CSR Committee are given in the Corporate Governance Report. The details of CSR Policy of the Company also available on the website of the Company at web link https://www.sunilhealthcare.com/wp-content/uploads/2015/11/CSR-POLICY.pdf. The Annual Report on CSR Activities is appended as Annexure G to this Board’s Report.

CORPORATE GOVERNANCE

In terms of Regulation 34 and other applicable regulation of SEBI (LODR) Regulations, 2015, a report on Corporate Governance along with Statutory Auditors’ Certificate as required by the Listing Regulation confirming its compliance with the corporate governance requirementare appended as Annexure H to this Board’s Report.

WHISTLE BLOWER POLICY/VISIL MECHANISM

During the yearthere was no case filed under this policy. The details of this Policy are stated in the Corporate Governance Report and also available on the website of the Company at web link https://www.sunilhealthcare.com/wp-content/uploads/2Q15/11/WHISTLE-BLOWER-POLICY- 4 .pdf.

DISCLOSURE UNDER SECTION 22 OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL)ACT, 2013:

The Company has in place a Policy on Sexual harassment of employees in the Company in line with the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)Act, 2013.

Composition of SHL’s Internal Complaint Committee (ICC):

1. Mrs. Rekha Gupta - Presiding officer

2. Mr.SureshYadav.-Member

3 Mr. Vinod Mathur - Independent Member

4 Mrs. SathiNair-Member

ICC’s Report on the complaints as on December 31,2017:

a) Number of complaint received during year: NIL

b) Number of complaint disposed off :NIL

c) Number of cases pending for more than 90 days: NIL

d) Number of work shoportraining programme organized against sexual harassment: 1 (on 22.12.2017)

e) Nature of action taken, if any, by the Company: NOTAPPLICABLE

The Policy on Sexual harassment of employees is available on the website of the Company at link https://www.sunilhealthcare.com/wp-content/uploads/2015/11/sexual harrashment policy.pdf

NOMINATION & REMUNERATION POLICY

The Nomination & Remuneration Committee of the Company formulated a criteria’s for determining qualifications, positive attributes and independence of a directorand other matters provided under Sub-section (3) of Section 178 of the Companies Act, 2013 and recommended to the Board a policy relating to the remuneration for the directors, key managerial personnel and other employees. The Nomination & Remuneration Policy is stated in the Corporate Governance Report and also available on the website of the Company at link https://www.sunilhealthcare.com/ wp-content/uploads /2016/02/ NOMINATION REMUNERATION POLICY OF SHL.pdf, and annexed as AnnexureI.

PERFORMANCE EVALUATION OF DIRECTORS

The Nomination and Remuneration Committee of the Company has laid down the criteria of performance evaluation of the Board of Directors including Independent Directors. Pursuant to the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out the annual performance evaluation of the entire Board, Committees and all the Directors based on the said criteria as laid down by the Nomination and Remuneration Committee.

INDEPENDENT DIRECTOR’S MEETING

During the year under review, one meeting of the Independent Directors of your Company was held on 12.02.2018 without the presence of any member of Management. The Meeting are conducted in an informal and flexible manner to enable the Independent Directors to discuss matters pertaining to, inter alia, review of performance of Non-Independent Directors and the Board as a whole, review the performance of the Chairman of the Company (taking into account the views of the Executive and Non-Executive Directors), review the performance of the Company, assess the quality, quantity and timeliness of flow of information between the Company Management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

INTERNAL FINANCIAL CONTROLS WITH RESPECT TO THE FINANCIAL STATEMENTS

The Company maintains adequate internal control system and procedures commensurate with its size and nature of operations. The internal control systems are designed to provide a reasonable assurance over reliability in financial reporting, ensure appropriate authorisation of transactions, safeguarding the assets of the Company and prevent misuse/ losses and legal compliances.

The internal control system includes a well-defined delegation of authority and a comprehensive Management Information System coupled with quarterly reviews of operational and financial performance, a well-structured budgeting process with regular monitoring of expenses and Internal audit. The Internal Audit reports are periodically reviewed by the management and the Audit Committee and necessary improvements are undertaken, if required.

PUBLIC DEPOSIT

Your Company has not accepted any public deposit within the meaning of provisions of section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 and there is no outstanding deposit due for re-payment. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The Company has not given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013. Further the Company had invested of Rs. 6000 in the government Securities I e National Saving Certificate since long time.

SIGNIFICANT MATERIALCHANGES AFTER BALANCE SHEET DATEAFFECTING FINANCIAL POSITION

There are no change and commitments which affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements relate i e 31.03.2018 and the date of report 25th May 2018.

TRANSFEROFAMOUNTS TO INVESTOR EDUCATIONAND PROTECTION FUND

Pursuant to the provisions of the Section 124 and 125 of the Companies Act, 2013 read with the IEPF Authority (Accounting, audit, Transfer and Refund), Rule, 2016 (“The Rules”) are required to be transferred by the Company to Investor Education & Protection fund (The IEPF) established by the Central Government after the completion of seven years. Further according to the Rules, the shares in respect of which dividend has not been paid or claimed by the shareholders for seven consecutive years or more shall also be transferred to the demat account created by the IEPF Authority. However, the company did not declare dividend after 2008-09. The Company has transferred the unpaid or unclaimed dividend for the financial year 1999-2000 to 2008-09 as per the relevant provision of the Companies Act 2013. Thereafter, The Company did not declare any dividends. Further, those shareholders, whose dividends were transferred in IEPFAccount may still claim refund by filing refund application inform IEPF-5, after filing form printout of the same to be submitted alongwith indemnity bond, acknowledgment, self-attested form and other necessary documents as mentioned in detailed procedures for claiming refund at IEPF portal http://www.iepf.gov.in/IEPFA/refund.html, for verification purpose to the Mr. Santosh Kumar Sharma, Company Secretary, The Nodal Officer, Vijay Tower, 38E/252-A, Shahpur Jat, Panchsheel Park Commercial Complex, New Delhi-110049, contact no. 011-49435555. The details of unpaid dividend are provided on ourwebsite atwww.sunilhealthcare.com SECRETARIAL STANDARD

During the reporting period 2017-18, your Company has complied with the Secretarial Standard issued by the Institute of Companies Secretaries of India which were made applicable with effectfrom 01.07.2015 and amended from time to time.

CREDIT RATING

The Company has been assigned credit rating on Long Term Bank facility rating CARE BBB: Stable (Triple B, Outlook, Stable) and Short Term Bank Facility rating CARE A3 (A Three Plus), the said rating is valid for a period of one year till September 27, 2018.

LISTING AND CONFIRMATION OF FEE

The securities of your Company are listed at The Bombay Stock Exchange Limited (BSE) and The Calcutta Stock Exchange (CSE). The Annual Listing fees for the year 2018-19 was paid to the Stock Exchanges. The Company has paid the annual custodyfeefortheyear2018-19toCDSLand payment to NSDL will be made upon receipt of Bill.

DIRECTOR’S RESPONSIBILITY STATEMENT:

In terms of Section 134 (5) ofthe Companies Act, 2013, the directors would like to state that:

I. In the preparation of the annual accounts, the applicable accounting standards had been followed alongwith the proper explanation relating to material departures.

II. The directors had selected such accounting policies and applied them consistently and made judgments and estimates that were 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 or loss of the Company for the that period.

III. The directors had taken properand sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

IV. The directors had prepared the annual accounts on a going concern basis.

V. The directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.

VI. The directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of Provision of Regulation 34 of SEBI (Listing Obligation & Disclosure Requirement) Regulation, 2015 and in compliance ofthe provision of Companies Act-2013 a Management Discussion and Analysis Report is appended to this report.

INDUSTRIAL RELATION

Relation with the employees remain cordial and your Directors wish to place on record their appreciation ofthe co-operation and contribution made by the employees at all levels.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGISTRARS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATION IN FUTURE - None

RIGHT OF MEMBER TO COPIES OF AUDITED FINANCIAL STATEMENT

Having regard to the provisions of the first proviso to Section 136(1) of the Act, the annual report is being sent to the members of the Company. The said information is available at the website of the Company and is available for inspection at the registered office of the Company during working hours and any member interested in obtaining such information may write to be Company Secretary and the same will be furnished on request.

GENERAL

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the financial year under review:

I. Issue of equity shares with differential rights as to dividend, voting or otherwise.

II. Issue of shares (including sweat equity shares) to employees of the Company under any scheme save and except ESOS referred to in this Report.

III. There are no significant material orders passed by the Regulators / Courts which would impact the going concern status ofthe Company and its future operations.

IV. No amount has been transferred to General Reserves during the year.

V. There is no change in the nature of business ofthe Company.

CAUTIONARYSTATEMENT

The statements contained in the Board’s Report and Management Discussion and Analysis contain certain statements relating to the future and therefore are forward looking within the meaning of applicable securities, laws and regulations. Various factors such as economic conditions, changes in government regulations, tax regime, other statues, market forces and otherassociated and incidental factors may however lead to variation in actual results.

ACKNOWLEDGEMENTS:

Your Board place on record their appreciation for the overwhelming co-operation and assistance received from the Company’s esteemed Shareholders, valued Customers, Suppliers, Business Associates, Bankers, Vendors, various Financial Institutions, the State and Central Government Bodies, Auditors and Legal Advisors for their valuable contribution and continued support and to all the persons who reposed faith and trust in Company.

Your Board also place on record their appreciation to its employees for their dedicated service and firm commitment to the goals ofthe Company. Without their commitment and hard work, Company’s consistent growth was not possible.

On behalf of the Board

For SUNIL HEALTHCARE LIMITED Reg. Office:

38E/252A, Vijay Tower, Shahpurjat, New Delhi-110049

ANIL KUMAR KHAITAN CIN No: L24302DL1973PLC189662

CHAIRMAN CUM MANAGING DIRECTOR Phone No: 91-11-49435555/00 Fax no 011-43850087

DIN-00759951 Email ID: info@sunilhealthcare.com

Place - Alwar Web; www.sunilhealthcare.com

Dated-25th May, 2018

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