Date, Location, and Type of Meeting

The 16th Annual General Meeting was held on Tuesday, September 29, 2026, at 11:00 A.M. (IST) through Video Conferencing facility. The deemed venue for the AGM was the Registered Office of the Company at Bengaluru.

Attendees

Directors Present:

  • Dr. Sudarshan Ballal, Non-Executive Chairman & Chairman of CSR Committee
  • Mr. Dilip Jose, Managing Director & Chief Executive Officer
  • Dr. Ranjan Pai, Non-Executive Director & Chairman of Stakeholder Relationship Committee
  • Mr. Ravi Lambah, Non-Executive Director & Chairman of Risk Management Committee
  • Mr. Ved Kalanoria, Non-Executive Director
  • Mr. Vinesh Kumar Jairath, Independent Director & Chairman of Audit Committee
  • Ms. Revathy Ashok, Independent Director

Key Managerial Personnel Present:

  • Mr. Sameer Agarwal, Chief Financial Officer
  • Mr. Karthik Rajagopal, Chief Operating Officer
  • Mr. Sathish K R, Company Secretary & Compliance Officer

Present by Invitation:

  • Representatives of the Statutory Auditors
  • Representatives of the Secretarial Auditors
  • Mr. Pramod S. M., Designated Partner, BMP & Co. LLP, Practising Company Secretaries (Scrutinizer)

Summary of Proposed Resolutions

The following items of Ordinary and Special Business were placed before members for consideration and approval:

Ordinary Business:

1. Consideration and adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026

2. Re-appointment of Dr. Hebri Sudarshan Ballal (DIN: 01195055) who retires by rotation

3. Re-appointment of Mr. Puneet Bhatia (DIN: 00143973) who retires by rotation

4. Appointment of M/s. Price Waterhouse Chartered Accountants LLP (ICAI Firm Registration No. 012754N/N500016) as Statutory Auditors for 5 years

Special Business:

5. Ratification of remuneration payable to M/s. Rao, Murthy & Associates, Cost Accountants (FR No. 000065) for FY 2026-27

6. Appointment of M/s. BMP & Co. LLP, Practising Company Secretaries (Firm Registration No. L2017KR003200) as Secretarial Auditors for 5 years

7. Approval and ratification of Manipal Health Enterprises Employee Stock Option Plan 2024 (ESOP 2024 Plan)

8. Ratification of extension of benefits under the Employee Stock Option Plan 2019

9. Consideration and approval of Upside Sharing Arrangement pursuant to Upside Sharing Agreement dated March 16, 2026

10. Approval of amendments to Articles of Association and grant of special rights of nomination/appointment

11. Fixation of term of Dr. Ranjan Ramdas Pai (DIN: 00863123) as Non-Executive Director for 5 years

Voting Process and Methods

Remote e-voting facility was made available to eligible members from 9:00 A.M. (IST) on Saturday, September 26, 2026, to 5:00 P.M. (IST) on Monday, September 28, 2026. Electronic voting during the AGM was overseen by Mr. Pramod S. M. of BMP & Co. LLP as Scrutinizer. The electronic voting facility remained open for an additional 30 minutes after the meeting.

Financial and Operational Highlights Presented

The Chairman presented the following operational and financial highlights for FY 2025-26:

  • Revenue from operations increased by 25.4% to ₹10,336 crores (from ₹8,242 crores previous year)
  • Operating EBITDA reached ₹2,644 crores with EBITDA margin of 25.6%
  • Profit for the year stood at ₹917 crores
  • Inpatient volumes increased from 4.39 Lakhs to 5.27 Lakhs
  • Outpatient volumes increased from 47.17 Lakhs to 54.83 Lakhs
  • Average Length of Stay improved to 2.8 days from 2.9 days
  • High-acuity CONGO-R specialties contributed 64.3% of gross inpatient revenue
  • Network expanded to 49 hospitals with over 13,000 licensed beds across 14 States and Union Territories
  • Served over 76.30 lakh patients during the year
  • Strategic acquisition of Sahyadri Hospitals Private Limited added 10 hospitals and 1,606 licensed beds
  • Operationalized two greenfield facilities at Kanakapura Road and Yelahanka in Bengaluru

Scrutinizer's Role and Findings

Mr. Pramod S. M., Designated Partner of BMP & Co. LLP, Practising Company Secretaries, was appointed as Scrutinizer to oversee both remote e-voting and electronic voting during the AGM. The aggregated voting results along with the Consolidated Scrutinizer's Report will be disseminated to the Stock Exchanges and posted on the company website and NSDL website within prescribed timelines.

Compliance Confirmation

The meeting was conducted in accordance with applicable provisions of the Companies Act, 2013 read with relevant circulars issued by the Ministry of Corporate Affairs and SEBI. The statutory registers along with accompanying documents were maintained and made accessible for inspection by members during the meeting.

Question & Answer Session

The meeting included a Question-and-Answer session where registered speaker shareholders submitted questions and observations. Mr. Dilip Jose, Managing Director & CEO, addressed all queries raised by shareholders.

Conclusion and Signatories

The formal proceedings concluded at 12:08 P.M. (IST). The document was signed by Mr. Sathish K R, Company Secretary and Compliance Officer (Membership No.: A15203).