Dolphin Medical Services Limited is an Indian healthcare services entity characterized by a **lean operational structure** and a **governance-first** business philosophy. The company operates as a standalone entity with no **Subsidiaries, Associates, or Joint Ventures** as of the conclusion of **FY 2024-25**, ensuring a transparent and uncomplicated corporate architecture for investors. --- ### **Strategic Hub Relocation and Administrative Infrastructure** The company has recently undergone a significant physical and administrative transformation to align its operations with India’s primary business corridors. * **Gachibowli Transition:** In **February 2026**, the company relocated its **Registered Office** to **Level 4, Plot No 13, Green Lands Colony, Gachibowli, Hyderabad**. This move from the long-standing Ameerpet location places the company in a premier IT and business hub, potentially enhancing its corporate visibility and networking capabilities. * **Capital Sourcing:** The Board maintains a flexible funding strategy, authorized to secure operational capital through **Loans from Directors** and **Intercorporate Loans**, providing liquidity buffers outside of traditional banking channels. * **Operational Continuity:** Despite administrative shifts, the company has maintained a consistent business model with **no changes in the nature of business activities** reported over the recent fiscal cycles. --- ### **Corporate Governance and Board Composition** Dolphin Medical Services adheres to a rigorous governance framework designed to separate management from oversight, ensuring long-term value for stakeholders. * **Board Strength:** The Board consists of **6 members**, maintaining a **50% Independent Director** ratio (3 members), which strictly complies with **Regulation 17 of SEBI Listing Regulations** and the **Companies Act, 2013**. * **Leadership Appointments:** In **February 2026**, the company strengthened its leadership through the appointment of **Mr. Mallour Rajesh Kumar** (Non-Executive Non-Independent Director) and **Mr. Bhamidipati Suryaprakash** (Independent Director, 5-year term). * **Integrated Compliance:** The company recently unified its financial and regulatory oversight by appointing a **Company Secretary (CS) cum Chief Financial Officer (CFO)** in **February 2026**, following the resignation of the previous CFO. * **Committee Oversight:** The governance structure is supported by an **Audit Committee** and a **Stakeholders Relationship Committee**, which focus on "open dialogue" and "integrity" as core pillars. | Governance Feature | Details | | :--- | :--- | | **Board Meetings (FY 24-25)** | **Six (6)** meetings held | | **Statutory Auditors** | **M/s. Kota & Associates** (Appointed until the **38th AGM**) | | **Evaluation Process** | Annual performance evaluation for Board and Committees | | **Compliance Standard** | Adherence to **Regulation 34** and **Schedule V** of **SEBI (LODR)** | --- ### **Financial Performance and Growth Trajectory** The company has demonstrated a consistent trend of **revenue expansion** and **loss mitigation**, signaling an improving operational efficiency. | Metric | FY 2022-23 (Rs.) | FY 2021-22 (Rs.) | Variance (%) | | :--- | :--- | :--- | :--- | | **Total Income** | **61,12,260** | **52,03,120** | **+17.47%** | | **Other Income** | **3,68,000** | **3,68,300** | -0.08% | | **Total Expenditure** | **76,56,469** | **73,33,116** | +4.41% | | **Profit / (Loss) Before Tax** | **(11,76,209)** | **(17,61,696)** | **+33.23% (Loss Reduction)** | | **Profit / (Loss) After Tax** | **(12,45,917)** | **(18,74,881)** | **+33.55% (Loss Reduction)** | **Financial Highlights:** * **Revenue Momentum:** The **17.47%** increase in total income suggests a strengthening market presence. * **Bottom-Line Improvement:** The company successfully narrowed its **Net Loss** by over **33%** year-on-year, driven by revenue growth outpacing expenditure increases. * **Taxation and Provisions:** The company accounted for a **Provision for Deferred Tax** of **Rs. 69,708** in FY 2022-23. Notably, the company does **not foresee any losses** requiring specific provisions beyond standard accounting. --- ### **Enterprise Risk Management (ERM) Framework** Dolphin Medical Services integrates risk assessment directly into its **long-term sustainability** and **capital allocation** strategies. The **Audit Committee** and the **Board** conduct regular reviews to ensure the business remains resilient against emerging threats. * **Risk-Informed Strategy:** The **ERM process** serves as a foundational input for the company’s business plans, ensuring that growth is balanced with proactive mitigation. * **Internal Controls:** Independent auditors have verified that internal control systems are **adequate and commensurate** with the company’s size. * **Risk Status:** The Board has explicitly stated that there are **no major elements of risk** currently threatening the company's existence. | Strategic Pillar | Focus Area | Objective | | :--- | :--- | :--- | | **Risk Management** | ERM Integration | Aligning emerging risks with **Business Plans** | | **Governance** | Board Oversight | Strategic alignment and **capital allocation** | | **Sustainability** | Planning | Utilizing risk data for **long-term value** | --- ### **Legal, Compliance, and Ethics** The company maintains a clean regulatory record with a focus on transparency and shareholder protection. * **Director Eligibility:** As of **March 31, 2024**, **zero directors** were disqualified under **Section 164(2)** of the **Companies Act, 2013**. * **Litigation:** All **pending litigations** have been fully disclosed within the financial statements, with no hidden liabilities reported. * **Investor Protection:** There are no outstanding transfers to the **Investor Education and Protection Fund (IEPF)**, and the company maintains a formal mechanism for tracking and reporting complaints related to **Sexual Harassment** and other ethical concerns. * **Audit Assurance:** The company holds an **Auditors' Certificate on Corporate Governance**, confirming its adherence to the highest standards of regulatory compliance.