internship report in srl

7/29/2019 internship report in srl

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PROJECT REPORTON

ANALYSIS OFFINANCIAL STATEMENTS

OFSUPER RELIGARE LABORATORIES (SRL)

SUBMITTED TO: SUBMITTEDBY


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EXECUTIVE SUMMARYThis report is prepared to analyse the financial statements of SRL(super religare

laboratories) limited.this report gives a brief introduction about srl,its businessdevelopment, aims ,current market standing.after that a brief introduction about working

of the finance and accounts department of srl vansant kunj is given

This is folloId by financial statement analysis of the company.it is then shown why

accounting is important and various considerations involved while using these ratios

The various various accounting ratios are calculated using financial statements for the

past 3 years.finally the ratios then compared with standard norms to see that whether

the ratios are satisfactory or not.


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ACKNOWLEDGEMENT

As any good work is incomplete without acknowledging the people who made it

possible, this report is incomplete without thanking the people without whom this projectwouldn't have taken shape.

This project is a result of continuous cooperation, effective guidance and support from

all the people associated with this project.

I would like to express my regards and thanks to, my mentor at srl limited,vasant kunj ,for giving us the opportunity to work on this project and learn something new. I are

indebted to him for clarifying my concepts by sharing his valued experience in teaching,

research and training which have thereby become an unconscious part of my ideas and

thoughts while analyzing the financial statements of the firm. .Lastly I would like to thank my families and friends for their continuing support,

blessings and encouragement.


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INDEX

Serial no Topic Page no


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INTRODUCTION

INDUSTRY OVERVIEW

The Healthcare sector, in India, is at an inflection point and is poised for rapid growth in

the medium term. However, Indian healthcare expenditure is still amongst the lowestglobally. As per the United Nations Development Programme (UNDP) Human

Development Report 2011: Sustainability and Inequality India ranks a low 134 among

187 countries in terms of the human development index (HDI), which assesses long-

term progress in health, education and income indicators. Indias HDI is 0.5 comparedto 0.3 in 2010.

The Indian healthcare industry, unlike other industries, stands untouched

by recession. There had been a steady growth in this sector, revenues from the

healthcare sector accounts for 5.2% of the GDP, making it the third largest growing

sector in India, and further the healthcare sector is projected to grow to nearly 1,80,000crores by year 2012 and a compounded annual growth rate (CAGR) of 15-17 percent

for at least the next 7-10 years.

In India healthcare is delivered through both the public sector and private sector. The

public healthcare system consists of healthcare facilities run by central and state

government which provide services free of cost or at a subsidized rates to low income

group in rural and urban areas. With the Indian economy enjoying a steady growth, the

industry is heading towards growth phase. The introduction of product patents in India is

expected to boost the industry by encouraging multinational companies to launch

specialized life-saving drugs. Attracted by the advantages such as lower costs ofproduction and skilled workforce that India offers, these companies are looking to set up

research and development as well as production centers there.

There are some economic factors which make India such an exciting market. Since

healthcare is dependent on the people served, Indias huge population of a billionpeople represents a big opportunity. The middle income group in this vast base is also a

large above 300 million and the Demographics of Middle Income Class in India is

expected to grow to 400 to 500 Million by 2015. India spends only 1% of its GDP on

health, translating into $55 per capita. France spends 10.4% and Japan 8%.


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II. Structure / Market of the healthcare sector

The sector comprises of:-

a) Hospital

Government Hospitals includes healthcare centres, district hospitals and general

hospitals

Private Hospitals includes nursing homes, mid-tier, and top-tier private hospitalsb) Pharmaceuticals

Includes the manufacture, extraction, processing, purification, and packaging of

chemical materials to be used as medications for humans or animals

c) Diagnostics

Comprises businesses and laboratories that offer analytic or diagnostic servicesincluding body fluid analysis

d) Medical Equipment and Supplies

Includes establishments primarily engaged in manufacturing medical equipment and

supplies, such as surgical, dental, orthopaedic, ophthalmologic, and laboratory

instruments, etc

e) Medical insurance

HEALTHCARE

HOSPITALS

Pharmaceutical

DIAGNOSTICS

MedicalEquipment and

Supplies

MedicalInsurance


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Includes health insurance and covers an individuals hospitalisation expenses and

medical reimbursement facility incurred due to sickness

Composition of revenue

Of total healthcare revenues in the country

Hospitals account for 71 per cent

Pharmaceuticals for 13 per cent, and Medical equipment and supplies for 9 per cent

71%

13%

3% 9%4%

Market Break-up By Revenue 2012 Estimate

hospital

pharmaceuticals

dignostics

medical equipments

medical insurance


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Per capita healthcare expenditure increased at a CAGR of 8.5 per cent over the

period 2007-10

By 2012 healthcare spending is estimated to contribute 8 per cent of GDP andemploy around 9 million people

0

5

10

15

20

25

30

35

40

45

50

2005 2006 2007 2008 2009 2010

Revenue(billion $)

Revenue(billion $)


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The Diagnostics Services Industry in India

In recent years, the diagnostics market has become one of the important growth

industries, after information technology/information technology enabled service industry

and other knowledge-based sectors. The IMaCS Report estimates that 60-70% of

treatment decisions are based on test results. The market has grown robustly in pastfew years on the back of increasing disease prevalence, rising consumer awareness

and preference for healthy lifestyle with preventive care.

Diagnostics services can be divided into radiology, pathology and other services. The

following diagram illustrates the share of corporate sector in diagnostics services market

in India in Fiscal 2010

While the top-three corporate diagnostics service providers in India accounted for

approximately 7% of the total

market in Fiscal 2010, the corporate presence is still small with an estimated 9.10%

share. Although the

corporate sector presence is marginal, examples from more developed countries

indicate that the natural path for

the progression of the industry from an unorganised sector to a more organised sector

The following graph depicts the projected growth of the diagnostics industry from 2009

to 2015

Corporate Sector,

9.1

Fragmented

Market, 90.1

Corporate Sector Fragmented Market


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The following graph depicts the projected growth of pathology and radiology services

from 2009 to 2015

:

Pathology services

The pathology market is estimated at 2.50% of the overall healthcare market. According

to industry estimates, there are over 40,000 pathology laboratories in the country

servicing a total of approximately 1-1.25 million patients per day. This includes

0

50

100

150

200

250

300

2009 2015

59.1

254.4

Projected Growth of the Dignostic Industry

(in billions)

0

20

40

60

80

100

120

140

160

180

200

2009 2015

in billions

Pathology

Radiology


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specialized laboratories, work facilities in hospitals and nursing homes, and small

testing centres with basic facilities. The calibre of services provided by these

laboratories varies widely. The number of NABL accredited laboratories remains low.

The number of tests conducted in the last decade has doubled from 180 million to more

than 425 million

Radiology

Diagnostic imaging plays a vital role in almost every clinical discipline. Proliferation of

lifestyle diseases such as diabetes and hypertension due to poor diet and lack of

exercise has resulted in the increasing reliance on medical imaging both for diagnostics

as well as for therapeutics. The industry has progressed because of technological

advancement in various types of imaging devices and professionally trained personnel

in the area of radiology as well as other imaging. The popularity of imaging stems from

the benefit of non-invasive testing and almost immediate diagnosis.

The radiology market in India is estimated at 1.10% of the healthcare sector. In 2009,

there were approximately 63 imaging equipment available for a million people. The

increasing dependence on imaging modalities provide for effective diagnosis and

reducing cost in terms of consumables and other operations. The key areas of

applications of medical imaging and Picture Archival and Communication Systems

(PACS) are in specialties such as endoscopy, cardiology, dermatology, ophthalmology

and pathology

The key corporate players in the diagnostics services market

Super Religare Laboratories,

Dr. Lal Pathlabs,

Metropolis

Quest Diagnostics.

MedPlus Health Services Pvt. Ltd


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To ensure that every employee is treated with dignity and respect, and in a fair,

consistent and equitable manner.

To create a stimulating, enabling and supportive work atmosphere.

To aid and encourage employees in realizing their full potentialBrief History of our Company

Our Company was incorporated under the Companies Act as a private limited company

on July 7, 1995 as SpecialtyRanbaxy Private Limited, a 50:50 joint venture betweenSpecialty Laboratories Asia Limited and Ranbaxy Laboratories Limited, pursuant to a

joint venture agreement dated April 17, 1995 (JV Agreement). Our Companybecame a deemed public limited company in the year 1996 and the endorsement to this

effect was made by the RoC on March 30, 1996 on the original certificate of

incorporation dated July 7, 1995. The name of our Company was subsequently

changed to SRL Ranbaxy Limited pursuant to a special resolution of ourshareholders dated June 3, 2002. The reason for such name change was the

termination of the joint venture with Specialty Laboratories Asia Limited on January 18,

2002, consequent to which our Company had to drop the trade name Specialty fromits name, in accordance with the JV Agreement. For details of the said JV Agreement,

see the section titled History and Corporate Structure Shareholders Agreementson page 103. The fresh certificate of incorporation consequent to the change of name

was granted to our Company on December 30, 2002, by the RoC. Subsequently, the

name of our Company was changed to its present name pursuant to a special resolution

of the shareholders of our Company dated August 14, 2008 and a fresh certificate ofincorporation was granted to our Company by the RoC on August 28, 2008. The reason

for such name change was sale of the Ranbaxy brand by our Promoters.

On August 20, 2010, our Company acquired 100% of the paid up capital of PDSPL

pursuant to, inter alia, the terms of a share purchase, share allotment and debenture

subscription agreement dated July 13, 2010 as amended by an amendment agreement

dated August 20, 2010 entered into among our Company, promoters of PDSPL and

PDSPL. For details of the said agreement, see the section titled History andCorporate StructureShareholders Agreements on page 103.

Our Company was incorporated in order to undertake the business of establishing,maintaining and managing clinical reference laboratories to provide testing, diagnostic

and prognostic monitoring services

Major Events and Milestones


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Major Events and Milestones Year Events

1996

in Mumbai

1997 Started setting up network laboratories

1999 Obtained our first NABL accreditation for our

laboratory in Mumbai (1)

2001 Established our first researched and developmentcentre in Mumbai

2002 Received our first CAP accreditation for ourlaboratory in Mumbai(1)

2003 Started international business by way of appointingagents in London.

2005 Entrusted with high-end testing by UK hospitals on

a regular basis

2007 Set up second Clinical Reference Laboratory at

Gurgaon

2008

Lake, Kolkata

Clinical Reference Laboratory(1)

2009

Nepal

feCare Services Private Limited of Nepal (2)

2010

and Debenture Subscription Agreement withPiramal Healthcare Limited, Dr. Bhavin Jankharia,Dr. Avinash Phadke and Piramal Diagnostic

Services Private Limited, pursuant to which weacquired 100% stake in Piramal Diagnostic ServicesPrivate Limited(2)

Awards Year Awards

2010 Operational Excellence in Healthcare Delivery, FICCI

Healthcare Excellence Awards 2010

2009 Diagnostic Services Company of the year-India

Market, Frost & Sullivan Award 20092008 Microsoft Security Strategist Award 2008 in Health

Sciences Category,

2008 Finalist, Nasscom CNBC-TV18 IT User Award 2008

2007 Partner of Choice for Clinical ResearchCentralLaboratory Services, Frost & Sullivans Partner ofChoice Award 2007

2007 CIOL Enterprise Award for the use of informationtechnology in an innovative manner to address a

business problem and benefit from it


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In December 2005, we conducted a first-of-its-kind Mass screening project for Hepatitis

B amongst school students in Chennai.

Walkathon "Pledge for Autism"

Autism is a life long developmental disorder that typically occurs in the first three yearsof life. It causes impairment or disturbance in three main areas Social skills,communicative skills and in their repetitive and restricted behaviors.

Lack of knowledge about Autism leaves the parents of affected children in a perplexed

state. Keeping this in mind we had conducted an awareness campaign to educate

people on the needs of special children in November 2007.

Hemoglobin Test

The hemoglobin test is an important part of your health evaluation. The test is used to:

Measure the severity of anemia or polycythemia,

Monitor the response to treatment of anemia or polycythemias, and

Help make decisions about blood transfusions if the anemia is severe.

In January 2008, we conducted Hemoglobin testing for 35000 MCD School Children.

We provide diagnostic testing services at the following facilities:

Centers of Excellence for each sub-specialty of diagnosis. We currently have seven

Centers of Excellence, focused on clinical pathology, hematopathology, histopathology,microbiology, cytogenetics, radio diagnosis, molecular pathology microbiology,

cytogenics and clinical chemistry. They are equipped with high quality equipment and

manned by experienced and skilled physicians and medical technologists, including

histopathologists, clinical pathologists and radiologists.

Reference laboratories. Each of our reference laboratories is a multi-disciplined

laboratory, where routine as well as specialized and esoteric tests can be performed,

thereby providing our customers with a wide range of laboratory investigations for

various types of diseases. Six of our reference laboratories are based in India, our

seventh reference laboratory is based in Kathmandu, Nepal and we have entered into aservice agreement for one reference laboratory in the Dubai Healthcare City. For further

information, refer to the section titled Franchises and Joint Venture Managementof third-party laboratories.

Network laboratories. Our network laboratories are equipped to perform routine tests

and a selected number of specialized tests and has the ability to perform such tests


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quickly and report results to our customers. Our network laboratories have varying

degrees of sophistication depending on the locations. As of December 31, 2010, we

have 181 network laboratories comprising 164 pathology laboratories and 17 radiology

laboratories based in the major cities in India.

Pathology laboratories. As of December 31, 2010, we have 164 pathology laboratories,of which 53 are owned by us, we operate and manage 31 pathology laboratories based

in hospitals (14 of which are based in hospitals run by Fortis Healthcare Limited) on a

revenue-sharing or management fee basis, 55 are joint venture laboratories and 25 are

franchisee laboratories.

Radiology laboratories. As of December 31, 2010, we have 17 radiology laboratories (of

which 16 are owned by us and we operate and manage one radiology laboratory based

in a hospital), all of which are located in India, with capabilities to perform tests such as

CT, MRI, ultrasound, PET and X-ray. In addition, our radiology laboratories have remote

review and reporting capabilities, as they are fully-connected through special imagetransfer software and are therefore equipped to provide tele-radiology.

Collection centers. A collection center is a central facility that collects specimens within

an area or a region for shipment by independent courier services, to a pre-designated

laboratory for testing. Our collection centers are also frequently used as a base for sales

and distribution staff. As of December 31, 2010, we have 865 collection centers spread

across nearly 400 towns in India and an international network of 23 collection centers

outside

India in the United Arab Emirates, Oman, Qatar, Kuwait, Bahrain, Sri Lanka,Bangladesh, Nepal, the Maldives, Tanzania and Zambia.

E-pathology. We offer e-pathology services, where customers based in India can order

and pay for tests online, arrange for specimens to be collected from a designated

location, and the diagnostic test is performed at one of our laboratories.

Other facilities. We offer preventive care by offering various health screening packages

at our wellness centers. Our health screening packages include pre-employment and

post-employment screening packages, dental service packages and annual health

screening packages. As of December 31, 2010 we have 15 wellness centers, 12 of

which are located within our laboratories, and three are standalone wellness centers.

International operations

Through our network of reference laboratories within and outside India, network

laboratories, collection centers and representation offices and liaison offices, we are

able to provide routine and specialized testing services to customers outside India,


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including leading hospital chains in the United Arab Emirates, Oman, Qatar, Kuwait,

Bahrain, Sri Lanka, Bangladesh, Nepal, the Maldives, Tanzania and Zambia.

Logistics and specimen tracking

Specimen collection is performed in accordance with our Specimen Collection StandardOperating Procedure, which conforms to the National Commission for Clinical

Laboratory Standards (NCCLS) United States guidelines for specimen collection.Test specimens collected within India or outside of India are transported to our

laboratories in compliance with the International Air Transport Association (IATA)and International Civil Aviation Organization (ICAO) shipping guidelines. We usethird party and in-house courier service providers that provide online tracking facilities.

We have a dedicated logistics team that monitors, online, daily shipments from all

locations, whether in India or internationally, recording the status of the shipment from

the time of collection of the specimen, until it arrives at our laboratories and is tested

and reported, on a real-time basis.

We have arrangements with courier service companies including inter alia Blue Dart

Express Limited and Blazeflash Couriers Limited, for the transportation of specimens

from our 865 collection centers throughout India. We also have arrangements with

international courier companies inter alia Federal Express Couriers and World Courier

for our international shipments.

We believe that we have a strong logistics support and network that ensures our

customers of timely pick-up, transport and delivery of specimens within India or outside

India, to the pre-designated laboratory for testing. We provide customized solutions forclinical trials depending upon our customers needs and requirements, and also thegeographic location of the customer.

We seek to reduce defects, enhance quality and further increase the efficiency of our

logistics operations. As a result, we have been able to increase the efficiency of our

logistics routes such that the samples within city limits are transported to the local

laboratories in a timely manner. The samples collected that require specialized testing

are transported to the reference laboratories and reach the reference laboratory via

available airline, road and rail networks. Samples from Tier II and III cities and remote

locations reach the laboratories via courier services. Specimen shipments aretransported under the required temperature-controlled conditions.

A key challenge in the operation of a laboratory network is the maintenance of sample

integrity and turnaround time when tests are conducted by laboratories located in a

geographic area logistically far removed from the sample collection point. We have

standard operating procedures in place that enable us to identify and remedy pre-

analytical defects in specimens that we receive.


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specialized and esoteric diagnostic laboratory test services to approximately 1,550

hospitals, nursing homes and diagnostic laboratories.

Through our network of laboratories, collection centers and referral arrangements, we

offer a comprehensive range of approximately 3,300 diagnostic tests that cover an

extensive range of specialties. Our reports are used for detection, diagnosis, evaluation,monitoring and treatment of diseases and other medical conditions, as well as to

monitor and evaluate responses to medication. Our customers include hospitals and

other medical facilities, physicians, insurance companies, governmental agencies,

corporations, nursing homes, pharmaceutical companies and other independent clinical

laboratories, and walk-in customers. We currently operate and manage 31 pathology

laboratories based in hospitals (14 of which are based in hospitals run by Fortis

Healthcare Limited) on a revenue sharing or management fee basis.

Routine testing

Physicians use our routine tests in general patient care to establish or support a

diagnosis, to monitor a patients treatment or to search for an otherwise undiagnosedcondition. They measure various health parameters such as the functions of the heart,

kidneys, liver, thyroid and other organs and systems. Through our network of

laboratories and collection centers, we currently offer a comprehensive range of routine

tests. The most frequently requested of these routine tests include blood chemistry

analyses, urinalyses, blood cell counts, thyroid tests and human immunodeficiency virus

(HIV) tests. These routine procedures are most often used by physicians in theiroutpatient office practices, hospital-based laboratories that we manage, or our

customers that subscribe to our health screening packages, as further described in thesection titled Preventive Care.

We perform this core group of routine tests in all of our pathology laboratories. Routine

testing constitutes the majority of the tests performed by our pathology laboratories. We

generally perform and report most routine procedures utilizing a variety of sophisticated

and computerized laboratory testing instruments.

Preventive Care

We believe that preventive care has increased in popularity with our customers with the

increase in healthcare costs, as well as an increasing awareness of the benefits ofpreventive care. The increase in prevalence of communicable diseases as well as of

non-communicable diseases brought about by occupation or lifestyle, has played a key

role in the demand for preventive care. We commenced our Wellness Program in 2007,

providing


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preventive health management services to corporations and individuals, including

echocardiography, electrocardiography, stress tests, pulmonary function test,

audiometry and body composition tests, in order to enable them to take an active role in

improving their employees or their health. Our Wellness Program targets individualswho may not be aware that they are suffering from a particular disease. We offer a

broad spectrum of health screening packages to our customers, depending on, among

other things, age group and gender. Health screening packages that we offer include

pre-employment and post-employment screening packages, dental service packages

and annual health screening packages, and are conducted at our wellness centers. As

of December 31, 2010, we have 15 wellness centers, 12 of which are located within our

laboratories, and three are standalone wellness centers, providing wellness services to

more than 1,000 corporations and government agencies in India.

Specialized and esoteric testing

Specialized and esoteric testing operations involve certain types of unique testingcapabilities and/or customer requirements. These tests require sophisticated equipment

and materials, highly skilled personnel and professional attention. They are ordered less

frequently than routine tests, and are generally priced higher than routine tests. Through

our network of laboratories and collection centers, we currently offer a comprehensive

range of specialized and esoteric tests.

We typically provide specialized and esoteric testing services to hospitals, commercial

laboratories and physician office laboratories.

We generally serve two market segments, firstly, markets that are not typically servedby the standard clinical testing laboratory (like our network laboratories), and secondly,

markets that are served by the standard clinical testing laboratory, but also require the

possibility of adding related services (such as clinical trials or occupational drug testing

from the same supplier).

The following sets out the key fields in which we offer specialized and esoteric testing

and related services:

hematopathology and oncology (the study of bacteria, viruses, genetics, blood and

cancer markers, respectively, at the molecular level);

drugs in patients); and


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f changes or mutations in deoxyribonucleic acid(DNA) that determine desirable or undesirable traits, including an increased risk incertain diseases).

These tests are conducted at our reference laboratories and/or Centers of Excellence,

as well as certain of our network laboratories.

Infectious Disease

Diagnostic testing in relation to many infectious diseases requires the use of advanced

technology and equipment. The esoteric tests that we offer complement routine tests,

thereby allowing complete patient care and management for various infectious diseases

including HIV, tuberculosis, pneumonia and hepatitis. We also provide extensive testing

services and mass screening services for various diseases pursuant to various public

health programs and national health initiatives organized by the Government of India.

Oncology Testing

We offer a series of testing technologies that aid in diagnosing and monitoring certain

cancers and predicting the outcome of certain treatments. We offer, in one place,

routine tests (hematology and chemistry), specialized tests (histopathology,

immunohistochemistry and cytogenetics) and esoteric tests (molecular assays and flow

cytometry) in oncology for diagnosis, prognosis and monitoring of leukemia as well as

solid tumors. In cancers such as colon and lung cancer, assays such as K-ras, BRAF

and EGFR mutation analysis are associated with appropriate therapy choices for a

given patient.

Clinical research trials testing

We have provided clinical research trial testing services since 2000, and have

completed more than 500 studies across more than 35 therapeutic areas, and the

majority of the studies we have performed were of the Phase III and Phase IV type

conducted for international clients. We regularly perform clinical diagnostic testing

services for Indian as well as international pharmaceutical and diagnostics companies

and contract research organizations (service organizations that provides support to the

pharmaceutical and biotechnology industries in the form of outsourced pharmaceutical

research services (for both drugs and medical devices)) to support their internationalregulatory submissions.

Clinical trials involving new drugs are commonly classified into four phases. Each phase

of the drug approval process is treated as a separate clinical trial. The drug-

development process will normally proceed through all four phases over many years. If

the drug successfully passes through Phases I, II, and III, it will usually be approved by


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X-ray and Orthopantomography

X-ray systems use roentgen rays to penetrate the body and record images of organs

and structures on film. Digital X-ray systems add computer image processing capability

to traditional X-ray images, which provides faster transmission of images with a higher

resolution and the capability to store images more cost-effectively. As of December 31,2010, we had 62 X-ray systems in operation, 34 of which are digital X-ray systems.

Orthopantomography (OPG) is a special method, using X-rays, for obtainingradiographs of the teeth and jaws, both upper and lower. An OPG machine is specially

constructed so that it rotates around the jaw bones. As of December 31, 2010, we had

18 OPG machines in operation.

MRi

has become widely-accepted as the standard diagnostic tool for a wide and fast-

growing variety of clinical applications for soft tissue anatomy, such as those found inthe brain, spinal cord and interior ligaments of body joints such as the knee. MRI uses a

strong magnetic field in conjunction with low energy electromagnetic waves that are

processed by a computer to produce high-resolution, three-dimensional, cross-sectional

images of body tissue, including the brain, spine, abdomen, heart and extremities. MRI

systems can have either open or closed designs, routinely have magnetic field strength

of 1.5 Tesla to 3.0 Tesla. As of December 31, 2010, we had 12 1.5 Tesla MRI systems

and one 3.0 Tesla MRI system in operation.

Mammography

Mammography is a specialized form of radiology using low dosage X-rays to visualize

breast tissue and is the primary screening tool for breast cancer. Mammography

procedures and related services assist in the diagnosis of and treatment planning for

breast cancer. As of December 31, 2010, we had 12 mammography systems in

operation, 11 of which are digital mammography systems.

Ultrasound and Color Doppler

Ultrasound imaging uses sound waves and their echoes to visualize and locate internal

organs. It is particularly useful in viewing soft tissues that do not X-ray well. Ultrasound

is used in pregnancy to avoid X-ray exposure as well as in gynecological, urologic,

vascular, cardiac and breast applications.

Color Doppler is a special ultrasound technique, which allows the evaluation of blood

vessels. Ultrasound waves that reflect from the red blood corpuscles in the arteries and

veins are evaluated for velocity and amplitude, and color maps of the vessels can be

generated. Color Doppler is very useful in evaluating the carotid arteries in the neck, the


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heart (echocardiography), the arteries and veins in the abdomen and the arteries and

veins in the upper and lower limbs. An ultrasound machine equipped with Color Doppler

facilities is required to perform this test. All of our ultrasound systems have Color

Doppler facilities. As of December 31, 2010, we had 60 ultrasound systems with Color

Doppler facilities in operation.

PET

PET is a state-of-the-art nuclear medicine technique for evaluating biochemical and

physiological processes in the body. In the early stages of most diseases, such

functional processes are altered first. PET detects these changes, often before

anatomical or structural changes are evident on MRI or CT scan. PET is a functional

imaging modality, as compared to CT scan, which is a structural imaging modality.

We employ a combined PET/CT system that blends the PET and CT imaging modalities

into one scanner. By doing a CT scan at the same time, it is possible to superimposethe PET and CT scan findings in a single image, thus giving us functional and structural

imaging. As of December 31, 2010, we had one combination PET/CT systems in

operation.

Clinical research servicesClinical research services

We also provide clinical research services which are dedicated to offering centralised

laboratory services to support the needs of drug development for various phases of

clinical trials conducted by Indian as well as international pharmaceutical,

biotechnological and research companies. Our services extend to support multi-centric

studies at sites within India as well as our neighbouring Asian countries.

Our information management system, known as the Centralized Laboratory Information

Management System (CLIMS), uses sophisticated algorithms to cleanse andconfigure the data so that analysis can be comprehensive and meaningful. The data is

maintained on multiple levels of analysis enabling review of data from the global level to

the granular transactional detail. The system includes a base set of queries that provide

basic functionality and allows online real-time ad hoc query capability enabling the user

to customize analysis to the best needs of the organization using the system. For a

description of CLIMS, see the section titled Management Information and Control

Systems.

Franchises and

Swot analysis of srl

Strengths


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1. Established and wide diagnostic practice across India

2. Comprehensive offerings across our network of laboratories

3. Strong research and development team and use of sophisticated technology

Weakness

Less promotion activities

Opportunity

Expansion of product line

Expansion internationally

Rular markets

Threats

Pathology sector

The clinical diagnostics laboratory industry consists primarily of three types of providers:

hospital-based laboratories, physician-office laboratories and independent clinical

laboratories such as ours. The clinical laboratory business is intensely competitive.

There are currently five major independent clinical laboratories in India: our Company,

Dr. Lal Pathlabs, Metropolis, Thyrocare and Quest Diagnostics. In addition, we compete

with many smaller independent clinical and anatomical laboratories as well as

laboratories owned by hospitals and physicians. We believe that, in selecting a

laboratory, our potential customers often take into account the following factors:

e offered by the laboratory;

Radiology sector

The market for diagnostic imaging services is highly competitive. We compete

principally on the basis of our reputation, our ability to provide a broad selection of tests

at each of our facilities, the quality of our diagnostic imaging services and technologists

and the ability to establish and maintain relationships with healthcare providers and

referring physicians. We compete locally with groups of radiologists, established


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hospitals, clinics and other independent organizations that own and operate imaging

equipment. Our competitors include Metropolis, Dr Lal Pathlabs, Quest Diagnostics,

Medinova and Thyrocare. Some of our competitors may now or in the future have

access to greater financial resources than we do and may have access to newer, more

advanced equipment. In addition, some physician practices have established their own

diagnostic imaging facilities within their group practices to compete with us. We

experience additional competition as a result of those activities.

Intellectual property

analysis


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