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Dr Lal Pathlabs Ltd.

BSE: 539524 Sector: Health care
BSE 00:00 | 01 Jul 2235.80 73.85






NSE 00:00 | 01 Jul 2239.25 78.85






OPEN 2170.00
VOLUME 11992
52-Week high 4243.00
52-Week low 1805.10
P/E 54.20
Mkt Cap.(Rs cr) 18,635
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2170.00
CLOSE 2161.95
VOLUME 11992
52-Week high 4243.00
52-Week low 1805.10
P/E 54.20
Mkt Cap.(Rs cr) 18,635
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dr Lal Pathlabs Ltd. (LALPATHLAB) - Director Report

Company director report

Dear Members

Your Directors have pleasure in presenting the 28th Annual Report onthe business and operations of your Company along with the audited statement of accountsfor the year ended March 312022.


The Financial performance of your Company for the year ended March 312022 is summarized below:

(Rs in Million)
Particulars Year ended March 31 2022 (Consolidated) Year ended March 31 2021 (Consolidated) Year ended March 31 2022 (Standalone) Year ended March 31 2021 (Standalone)
Total Income 21399.54 16325.99 19257.22 15418.22
Total Expenses 16649.72 12381.90 14663.28 11677.79
Profit/(Loss) before Tax (PBT) 4749.82 3944.09 4593.94 3740.43
Profit/(Loss) after Tax (PAT) 3502.91 2964.79 3440.54 2801.06



During the year under review the consolidated income of the Companyincreased to

' 21399.54 million compared to Rs 16325.99 million in the previousyear registering growth of 31%. Net profit after tax for the group increased to Rs3502.91 million from Rs 2964.79 million representing a growth of 18%.


During the year under review the standalone income of the Companyincreased to Rs 19257.22 million compared to Rs 15418.22 million in the previous yearregistering growth of 25 %. The standalone Net profit after tax for the year increased by23% to Rs 3440.54 million compared to Rs 2801.06 million in the previous year.


The consolidated financial statements of your Company for the FinancialYear 2021-22 are prepared in compliance with applicable provisions of the Companies Act2013 (‘the Act") Indian Accounting standards ("ind-AS") andsecurities and Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations 2015 ("Listing

Regulations"). The consolidated financial statements have beenprepared on the basis of audited financial statements of the Company and its Subsidiariesas approved by their respective Board of Directors.


During the Financial Year your Company paid dividends as under:

Date of Declaration Dividend type Financial Year Dividend per Share (face value of Rs 10/- each)
July 29 2021 Final Dividend 2020-21 Rs 8
July 30 2021 interim Dividend 2021-22 Rs 6

in addition your Directors are pleased to recommend dividend of Rs 6/-per equity share of face value of Rs 10/- each as Final Dividend for the Financial Year2021-22 for approval by the shareholders at the ensuing Annual General Meeting("AGM") of the Company.

The Dividend Distribution Policy of the Company is attached herewith asAnnexure 1 and forms an integral part of this Annual Report.

The said policy is also available on the website of the Company at: brochures/Dividend-Distribution-Policy.pdf


During the year under review no amount from the profit of the Companyhas been transferred to the General Reserve of the Company.


The Board of Directors of your Company in their meeting on February 32020 approved a scheme of Amalgamation ("the scheme") between Dr. Lal PathLabsLimited (the Company/Transferee Company) and APL institute of Clinical Laboratory &Research Private Limited a wholly owned subsidiary of the Company (Transferor Company)having its Registered Office in Ahmedabad subject to requisite approvals under Section230 to 232 of the Companies Act 2013 ("the Act").

The New Delhi Bench of Hon'ble NCLT vide its order dated May 132022 has sanctioned the Scheme. The Company now awaits the approval of the Scheme byAhmedabad Bench of the Hon'ble NCLT.

The appointed date for the Scheme is April 1 2020 and the Scheme shallbe effective from the date on which certified copies of the order of New Delhi Bench andthe Ahmedabad Bench of the Hon'ble NCLT sanctioning the Scheme are filed with therespective Registrar of Companies.


During the Financial Year 2021-22 there was no change in theauthorised subscribed issued and paid-up share capital of the Company. As on March 312022 the paid-up share capital of the Company stood at Rs 833448770/- divided into83344877 equity shares of Rs 10/- each.

Further on May 6 2022 7000 equity shares of Rs 10/- were allottedunder ESOP 2010 Plan of the Company. As a result of which the paid up share capital ofthe Company increased from Rs 833448770 divided into 83344877 equity shares of Rs10/- each to Rs 833518770 divided into 83351877 equity shares of Rs 10/- each.


During the year under review there has been no material change in theESOP-2010 and RSU-2016 Scheme(s) of the Company and these Schemes continue to be incompliance with relevant/applicable ESOP Regulations/Guidelines.

Further the details required to be provided under the SEBi (Share BasedEmployee Benefits and

Sweat Equity) Regulations 2021 are disclosed on the website of theCompany and can be accessed at


During the year under review your Company acquired 100% stake in M/sSuburban Diagnostics (India) Private Limited ("Suburban") consequent upon whichSuburban became a Wholly Owned Subsidiary of the Company with effect from November 122021.

A report on the performance and financial position of each of thesubsidiaries for the financial year ended March 31 2022 in Form AOC -1 as per theCompanies Act 2013 is attached herewith as Annexure-2 and forms an integral partof this Annual Report.

The annual accounts of the subsidiaries shall also be made available tothe Members of the Company/ Subsidiary Companies seeking such information at any point oftime. The annual accounts of the subsidiaries are available under investors section on thewebsite of the Company at

The Company has formulated a policy for determining materialsubsidiaries. The said policy is also available on the website of the Company at: l determining-Material-Subsidiaries.pdf.


No material changes and commitments other than disclosed as part ofthis report affecting the financial position of the Company have occurred between March31 2022 and the date of the report.


During the Financial Year 2021-22 your Company has not accepted anydeposit within the meaning of Section 73 and 74 of the Companies Act 2013 read togetherwith the Companies (Acceptance of Deposits) Rules 2014.


Disclosures pertaining to remuneration and other details as requiredunder Section 197(12) of the Companies Act 2013 read with Rule 5(1) of the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 are provided in theprescribed format and annexed herewith as Annexure-3 to this Annual Report.

Particulars of employee remuneration as required under Section 197(12) of the Companies Act 2013 read with Rule 5 (2) and 5(3) of the Companies(appointment and remuneration of Managerial Personnel) rules 2014 forms part of thisannual report. in terms of the provisions of the first proviso to section 136 (1) of theCompanies Act 2013 the annual report is being sent to shareholders excluding theaforementioned information. any shareholder interested in obtaining a copy of suchstatement may write to the Company secretary of the Company at


The composition of audit Committee has been detailed in the CorporateGovernance report forming part of this annual report.

An recommendations made by the audit Committee have been accepted bythe Board of Directors.


I. Retirement by rotation and subsequent re-appointment

Dr. Archana Lal Erdmann (DiN: 08432506) Non-Executive Director of theCompany is liable to retire by rotation at the ensuing annual General meeting("AGM") pursuant to the provisions of section 152 of the Companies Act 2013read with the Companies (Appointment and Qualification of Directors) rules 2014 and beingeligible offers herself for reappointment. Appropriate resolution for her re-appointmentis being placed for the approval of the shareholders of the Company at the ensuing AGM.

A brief profile of Dr. Archana Lal erdmann and other relatedinformation is detailed in the Notice convening the 28th AGM of your Company.

The board considered the said re-appointment in the interest of theCompany and hence recommends the same to the shareholders for approval.

II. Declaration of Independence from I ndependent Directors

Your Company has received declarations from all the IndependentDirectors confirming that they meet the criteria of independence as prescribed under theprovisions of Companies Act 2013 read with the Schedules and Rules issued thereunder aswell as SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

IntheopinionoftheBoardIndependentDirectors fulfil the conditionsspecified in Companies Act 2013 read with the Schedules and Rules made thereunder as wellas in SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and areindependent from Management.


In accordance with the provisions of Sections 2(51) 203 of theCompanies Act 2013 read with Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 the following were the Key Managerial Personnel of the Company ason March 31 2022

1. (Hony) Brig. Dr. Arvind Lal – Executive Chairman

2. Dr. Om Prakash Manchanda – Managing Director

3. Dr. Vandana Lal – Whole time Director

4. Mr. Bharath U - Chief Executive Officer

5. Mr. Ved Prakash Goel – Group Chief Financial Officer; and

6. Mr. Rajat Kalra - Company Secretary and Legal Head


Pursuant to the provisions of the Companies Act 2013 and SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 the Board has carried outannual evaluation of (i) its own performance; (ii) Individual Directors Performance; (iii)Chairman of the Board; and (iv) Performance of all Committees of Board for the FinancialYear 2021-22. A structured questionnaire was prepared after taking into consideration theinputs received from Nomination and Remuneration Committee covering various aspects ofthe Board's functioning such as adequacy of the composition of the Board and itsCommittees Board culture execution and performance of specific duties obligations andgovernance. A separate exercise was carried out to evaluate the performance of individualDirectors who were evaluated on parameters such as level of engagement and contributionindependence of judgment safeguarding the interest of the Company and its minorityshareholders etc. The performance evaluation of the Independent Directors was carried outby the entire Board. The performance evaluation of the Non-Independent Directors andChairman of the Board was carried out by the Independent Directors.

The Directors expressed their satisfaction with the evaluation process.

Further the evaluation process confirms that the Board and itsCommittees continue to operate effectively_and the performance of the Directors and theChair is satisfactory.


In compliance with the provision of Section 178 of the Companies Act2013 the Board has on the recommendation of the Nomination & Remuneration Committeeof the Company framed a policy for selection and appointment of Directors Key ManagerialPersonnel Senior Management and their remuneration. The Nomination and RemunerationPolicy as updated from time to time is attached herewith as Annexure-4 and forms anintegral part of this Annual Report and can also be accessed at the website of the Companyat: brochures/Nomination_and_Remuneration_Policy_may.pdf.


The Board met Seven (7) times during the Financial Year 2021-22. Thedetails of the meetings of the Board and Committees thereof are given in the CorporateGovernance Report which forms an integral part of this Annual Report.


Pursuant to Section 134(3)(c) of the Companies Act 2013 the Directorsconfirm that: a) in the preparation of the annual accounts for the Financial Year endedMarch 31 2022 the applicable accounting standards and Schedule III of the Companies Act2013 have been followed and there are no material departures from the same; b) theDirectors have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair viewof the state of affairs of your Company as at March 31 2022 and of the profit/loss of theCompany for the Financial Year ended March 31 2022; c) proper and sufficient care hasbeen taken for the maintenance of adequate accounting records in accordance with theprovisions of the Companies Act 2013 for safeguarding the assets of the Company and forpreventing and detecting fraud and other irregularities; d) the annual accounts have beenprepared on a ‘going concern' basis; e) proper internal financial controls laiddown by the Directors were followed by the Company and that such internal financialcontrols are adequate and were operating effectively; and f) the Directors have devisedproper systems to ensure compliance with the provisions of all applicable laws and thatsuch systems were adequate and operating effectively.


I. Statutory Auditors

The Shareholders in the 23rd Annual General Meeting ("AGM")approved the appointment of M/s. Deloitte Haskins & Sells LLP Chartered Accountants(Firm Registration No. 117366W/W - 100018) as the Statutory Auditors for a period offive (5) years i.e. from the conclusion of the 23rd AGM held on July 20 2017 till theconclusion of 28th AGM of the Company to be held in the calendar year 2022. The Board ofDirectors in their meeting on May 17 2022 on the recommendation of the Audit Committeere-appointed M/s. Deloitte Haskins & Sells LLP. Chartered Accountants (FirmRegistration No. 117366W/W100018) as the Statutory Auditors of the Company to hold officefor their second term of five (5) year i.e. from the conclusion of 28th AGM till theconclusion of 33rd AGM of the Company to be held in calendar year 2027 subject to theapproval of Shareholders in ensuing Annual General Meeting.

M/s. Deloitte Haskins & Sells LLP have further confirmed that thesaid re-appointment if made will be in accordance with the provisions as prescribedunder Sections 139 and 141 of Companies Act 2013.

M/s. Deloitte Haskins & Sells LLP have also confirmed that theyhave subjected themselves to the peer review process of the Institute of CharteredAccountants of India (ICAI) and hold a valid certificate issued by the Peer Review Boardof the ICAI.

Further the Statutory Auditors of the Company have not reported anyfraud as specified under the second proviso of Section 143(12) of the Companies Act 2013(including any statutory modification(s) or re-enactment(s) for the time being in force).

The Auditors' Report for the Financial Year ended March 31 2022does not contain any qualification reservation or adverse remark.

Further the Auditors' Report being self-explanatory does not callfor any further comments from the Board of Directors.

II. Maintenance of Cost Records and Cost Auditors

In terms of the Section 148 of the Companies Act 2013 read withCompanies (Cost Records and Audit) Rules 2014 the Company is required to maintain costaccounting records and get them audited every year. Accordingly such accounts and recordswere made and maintained for the financial year 2021-22.

The Board of Directors on the basis of recommendations from AuditCommittee has appointed M/s A.G. Agarwal & Associates Cost and ManagementAccountants as Cost Auditors of the Company for the Financial Year 2022-23 at a fee of Rs75000/- (Rupees Seventy Five Thousand only) plus applicable taxes and out of pocketexpenses subject to the ratification of the said fees by the shareholders at the ensuingAGM.

III. Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act 2013read with the Companies ( A ppointment and Remuneration of Managerial

Personnel) Rules 2014 your Company had appointed M/s PDS & Co.Company Secretaries ("Secretarial Auditors") to conduct the Secretarial Audit ofyour Company for the Financial Year 2021-22. The Secretarial Audit Report for theFinancial Year ended March 31 2022 is attached herewith as Annexure-5 and forms anintegral part of this Annual Report. The Secretarial Audit Report is self explanatory anddoes not contain any qualification reservation or adverse remark. In compliance with therequirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015Secretarial Audit Report of Material Wholly Owned Subsidiary Company viz SuburbanDiagnostics ( I ndia) Private Limited is also attached herewith as Annexure-6 andforms an integral part of this Annual Report. The Secretarial Audit Report of SuburbanDiagnostics (India) Private Limited is self explanatory and does not contain anyqualification reservation or adverse remark.


The Annual Return of the Company in Form MGT- 7 in accordance withSection 92(3) of the Companies Act 2013 is available on the website of the Company at ww w. l a l p a t h l a b s . c o m /p d f/ M G T- 7- A n n u a l -Return-2021-22.pdf.


In compliance with the requirements of the Companies Act 2013 and SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 your Company hasformulated a Policy on Related Party Transactions which is also available onCompany's website at

The Policy intends to ensure that proper reporting approval anddisclosure processes are in place for all transactions between the Company and its RelatedParties. All Related Party Transactions are placed before the Audit Committee for reviewand approval. Prior omnibus approval is obtained for Related Party Transactions which areof repetitive nature and / or entered in the Ordinary Course of Business and are atArm's Length. All related party transaction entered during the year were in OrdinaryCourse of the Business and on Arm's Length basis. No Material Related PartyTransaction i.e. transaction exceeding ten percent of the annual consolidated turnover asper the last audited financial statements was entered during the year by your Company.Accordingly the disclosure of Related Party Transactions as required under Section 134(3)(h) of the Companies Act 2013 in Form AOC-2 is not applicable.


Intermsoftheprovisionsofsection186oftheCompanies Act 2013 read withCompanies (Meeting of Board and its Powers) Rules 2014 and Schedule V of the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 details ofInvestments are set out in Note No. 6 and details of Loans are set out in Note Nos.21 & 22 to the Standalone Financial Statements of the Company.


Your Company recognizes that risk is an integral part of business andis committed to managing the risks in a proactive and efficient manner. Your Companyperiodically assesses risk elements in the internal and external environment along withthe cost of treating such risk elements and incorporates risk treatment plans in itsstrategy business and operational plans. As on the date of this report the Company doesnot foresee any critical risk which threatens its existence. Your Company through itsRisk Management Policy strives to contain impact and likelihood of the risks within therisk appetite as agreed from time to time with the Board of Directors. The Company has aRisk Management Committee to identify elements of risk in different areas of operations;the details of the Risk Management Committee are included in the Corporate GovernanceReport.


Your Company has a Whistle Blower Mechanism in place as required underSection 177 of the Companies Act 2013 and the SEBI (Listing Obligations and DisclosureRequirements) Regulation 2015. More details in this regard have been outlined in theCorporate Governance Report annexed to this report and are also available under InvestorsSection on the Company's website at:


For your Company Corporate Social Responsibility (CSR) means theintegration of social environmental and economic concerns in its business operations. CSRinvolves operating Company's business in a manner that meets or exceeds the ethicallegal commercial and public expectations. In alignment with vision of the Companythrough its CSR initiative your Company will enhance value creation in the societythrough its services conduct and initiatives so as to promote sustained growth for thesociety. The Board of Directors of your Company has further formulated and adopted apolicy on CSR which can be accessed at:

The CSR Policy of your Company outlines the Company's philosophyfor undertaking socially useful programs through the creation of a CSR Trust for welfareand sustainable development of the community at large as part of its duties as aresponsible corporate citizen.

The composition of CSR committee and disclosure as per Rule 8 of theCompanies (Corporate Social Responsibility Policy) Rules 2014 as amended is attachedherewith as Annexure-7 and forms an integral part of this Annual Report.


The Management Discussion and Analysis (‘MDA') Report givesdetails of the overall industry structure developments performance and state of affairsof the Company's business and other material developments during the Financial Year.The MDA report is attached herewith as Annexure-8 and forms an integral part ofthis Annual Report.


SEBI vide its notification dated May 5 2021 mandated top 1000 listedcompanies (by market capitalization) to submit a new report on ESG parameters namelyBusiness Responsibility and Sustainability Report ("BRSR"). The reportsubmission is optional for Financial Year 2021-22 and mandatory from Financial Year2022-23 onwards. Your Company has on a voluntary basis opted for the BRSR Report forFinancial Year 2021-22 which is attached herewith as Annexure-9 and forms anintegral part of this Annual Report.


nI compliance with the provisions of SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 a separate report on Corporate Governancealong with a certificate from the Practicing Company Secretary on its compliance isattached herewith as Annexure-10 and forms an integral part of this Annual Report.


The Company has in place an Anti-Sexual Harassment Policy in compliancewith the requirements of the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013. The Company has complied with the provisionsrelating to the constitution of Internal Complaints Committee (ICC) as specified under theSexual Harassment of Women at Workplace (Prevention Prohibition and Redressal) Act 2013.

The Company conducts sessions for employees to build awareness amongstemployees about the Policy and the provisions of Prevention of Sexual Harassment of Womenat Workplace Act.

Status of Complaints under the sexual harassment of women at Workplace(prevention prohibition and redressal) Act 2013 during the Financial Year 2021-22 isdetailed below:

aParticulars No. of Complaints
Compliant pending at beginning of Financial Year 3*
Complaint received during Financial Year 1
Compliant resolved during Financial Year 4
Compliant pending at end of Financial Year 0

*Due to inadvertence the number of cases resolved was mentioned asfive (5) instead of four (4) in the last year Director's Report. Accordingly thenumber of pending cases at the end of the Financial Year 2020-21 was three (3) instead oftwo (2).


Theinformationonconservationofenergytechnology absorption and foreignexchange earnings and outgo as stipulated under Section 134 of the Companies Act 2013read with the Companies (Accounts) Rules 2014 is set out hereunder:

(A) Conservation of energy

(i) Steps taken or impact on conservation of energy

I . Maintaining power factor (PF) upto .99

(unity). Maintaining upto- 0.9994 at majority of the locations II. LEDlights installed for energy saving at 10 locations throughout the year and all new labsare equipped with LED only.

III. Installed R32 refrigerant operated air conditioning systems whichhelps in conserving Ozone layer IV. Automatic phase sequence corrector panel installed in12 locations to save the Diesel consumption V. Current installed capacity of solar powerplants is 50KW in National Reference Lab Rohini Delhi and 10KW in Reference Lab Kolkata.VI. De-scaling of Chillers is being done semi-annual for better efficiency & save theenergy VII. RO waste water recycling has helped in saving approx. 13KL of water per day.VIII. ETP (Effluent Treatment Plant) installed in 82 satellite labs for waste watertreatment throughout the year across the Nation to treat the liquid waste of labs to keepenvironment clean. IX. Equipped 59 location from Advance Autoclave which having TempPressure and time are recorded automatically in graph and data. It's as per BMWguidelines.

(ii) Steps taken by the company for utilising alternate sources ofenergy

The Company has already installed solar power plants at its two biggestReference Laboratories i.e National Reference Lab in Rohini and Reference Lab in Kolkata.The Company further plans to add solar panels to its Satellite Hub Labs as well in thecoming years.

(iii) Capital investment on energy conservation equipment's

The Company spent approx. Rs 3.2 Million for addition of new SolarPanels at its Reference Laboratories.

(B) Technology absorption

S. Processes / No. Technologies Description Date of I mport Absorption Benefits
1. IBEX IBEX is an Artificial Intelligence enabled software tool which is used for the diagnosis of the digital images of histopathology / IHC slides. It uses data models to provide the diagnosis. November 2021 Partially Absorbed AI assisted reporting for Prostate cancer and Breast cancer. The cancer heat map and quantification improve accuracy and standardisation of reporting.
The vendor is based out of Israel & the tech support is provided to us through European region. Currently the absorption is limited to specific types of tissue organs & is expected to be rolled over for diagnosis of other body organs as well
2. AlloSeq analysis software _ For Donor Derived cell free DNA (ddcfDNA) analysis for monitoring solid organ transplants June 2021 Fully We are first India to launch this test in the market last year. The test offers a non- invasive monitoring for all solid organ transplants
3. ADM:_ Atellica? Data Manager Atellica? Data Manager from Siemens leverages 2 decades of experience digitalizing laboratory best practices. This is an open scalable next-generation software includes powerful features and easy navigation to standardize testing enhance quality control (QC) and streamline result management. Helps to Automate workflows for sample processing and reflex and repeat testing using data-driven rules and built-in functionality. Provides Centralize management across multidisciplinary instruments labs and LISs with open scalable software.Evaluateandverifypatient results automatically based on predetermined criteria established by your lab for normal ranges delta checks quality control and instrument flag severities Review only those results that require further action before reporting. Add objectivity and consistency to the result review process help technologists not to miss abnormal results and focus attention where it is needed most. May 2020 Fully – cardiac liver lung kidney as an alternative to repeated biopsy Decision Automation - Post-Analytics Auto- Verification implemented Based on CLSI Auto-10 guidelines. This improved Quality TAT- turn around time of tests and decreased manual review
Auto verification_ included
Auto -Reruns/Dilution rules Auto Hold of Results for review <> AMR
Auto Hold of Results for review with I nstruments flags
Auto Hold of Results for review with HIL flags
Auto Hold of Results for
review with erratic results I mplementation of Patient Moving averages to improvequalityofreporting without additional cost using data analytics The lab has published a white paper detailing this achievement
4. APM: Atellica? Process Manager Atellica? Process Manager from Siemens helps you do more than control workflow and processes it enables you to uncover inefficiencies and optimize clinical operations to save time and money. Standardize and optimize clinical operations across your laboratory through built-in analytics and business intelligence capabilities. Deliver transparent and predictable turnaround times through the implementation of rules and at-risk sample alerts. ncrease I staff productivity with centralized oversight including the ability to control all systems view reagent levels and testing exceptions from one screen May 2020 Fully SMART – SORTING/ ALIQUOTING LOGIC reduced number of Aliquots by 90% _ - From 4000 to less than 400/day Reduced the events of quantity not sufficient in samples by reducing dead volume loss by aliquoting.
Real time monitoring and managing onboard inventory level and capacity utilization of connected instruments – this helped maintaining inventory and Real time auto alerts – large number of samples with minimal manpower could be handled during Covid 19 pandemic White paper published detailing the achievement and benefit
5. IGIB - INSTITUTE OF GENOMICS Test technology transfer for rare genetic diseases was fully adopted and launched for clinical diagnosis. June 2018 through March Partially All 21 tests from first trench launched.
AND INTEGRATIVE BIOLOGY The test technology transfer was done in three trenches for a total of 41 tests 2020 7 of 9 tests from trench 2 launched
_CSIR IGIB_ DELHI 4 of 11 tests from trench 3 launched Some tests not launched from trench 2 and 3 as very rare conditions and not commercially viable
6. Benetech Benetech PRA is an interpretive software tool used for prenatal risk assessment. Using a number of internationally recognized algorithms it calculates a pregnant woman's individual risk of carrying a fetus affected by a variety of medical conditions. January 2020 Fully Test launched for maternal serum screening
The solution is based out of USA & is provided to LPL through the instrument vendor Beckman

(C) Expenditure incurred on Research and Development: 33.85 Million

(D) Foreign exchange earnings and outgo

Particulars Amount
(In Rs Million)
Foreign Exchange Earnings 187.93
Foreign Exchange Outgo 98.30


Your Company has in place an adequate internal financial controlframework with reference to financial and operating controls thereby ensuring orderly andefficient conduct of its business including adherence to the Company's policiessafeguarding of its assets prevention and detection of frauds and errors accuracy andcompleteness of accounting records and timely preparation of reliable financialinformation.

During Financial Year 2021-22 such controls were tested and noreportable material weakness in the design or operation was observed.

The Directors have in the Directors Responsibility Statement confirmedthe same to this effect.


During the financial year under review there is no application madeand/or no proceeding pending under the Insolvency and Bankruptcy Code 2016.


There are no significant/material orders passed by the Regulators orCourts or Tribunals impacting the going concern status of your Company and its operationsin future.


The Company has duly complied with Secretarial Standards issued by theInstitute of Company Secretaries of India on Meetings of the Board of Directors (SS-1) andShareholders (SS-2).


Your Directors wish to convey their gratitude and place on record theirappreciation for all the employees at all levels for their hard work solidaritycooperation and dedication during the year. Your Directors sincerely convey theirappreciation to customers shareholders vendors bankers business associates regulatoryand government authorities for their continued support.

For and on behalf of Board of Directors
(Hony) Brig. Dr. Arvind Lal
Place: Gurugram Executive Chairman
Date: May 17 2022 DIN: 00576638