Shalby Limited's Focus on Accessible Healthcare and Sustainability: BRSR Report FY 2023-24

Shalby Limited's Focus on Accessible Healthcare and Sustainability: BRSR Report FY 2023-24

Shalby Limited's Focus on Accessible Healthcare and Sustainability: BRSR Report FY 2023-24
Shalby Limited came out with its BRSR for 2023-24, covering the period from 1 April 2023 to 31 March 2024. As instructed by the SEBI, a report was filed that mentioned the commitment of the company towards affordable healthcare, community support, care for employees, and ecological sustainability. Overview and Market Reach Shalby Limited is one of the leading healthcare providers engaged in the operation of hospitals and OPDs throughout India and abroad. The group offers a wide spectrum of healthcare services, including surgeries and medical treatments. The company has a presence in 15 states of India and also operates in five international markets. Though it only accounts for 1.09% of its total turnover, it is growing its international presence by attracting patients from other parts of the world, including those covered under different international social security schemes. Employee Statistics and Well-being Commitment The report throws insight into Shalby's manpower details, which stood at 3,493 employees in total, out of which 54.71% were males and 45.29% were females. The workforce in the company is balanced concerning gender, and hence the company focuses highly on the employees' wellbeing. It had set aside 0.01% of the total revenue for the welfare of the employee. Median remuneration of the employees of the company's board and key managerial personnel: there is a variation of amount concerning gender; male members who are board members receive an amount of rupees 1,45,000/-, while female board members receive an amount of rupees 1,75,000/-. The median remuneration received by male personnel is ?47,31,012 for key managerial personnel. Besides providing decent salary packages, Shalby provides its key managerial staff with 100% employee retirement benefits and covers a considerable amount of its workforce under the same schemes, therefore showing concern for its employees. Corporate Social Responsibility (CSR) AND Community Support Shalby Limited has actively contributed to social causes, with CSR spending amounting to ?24.03 million. CSR initiatives by the company fall under the corporate vision of making health care available and affordable while contributing to the welfare of the community. Shalby undertakes many community activities, especially in the field of healthcare access for the underprivileged sections of society. The company also admits patients availing of the Central Government Health Scheme (CGHS) and the Ex-Servicemen Contributory Health Scheme (ECHS), reaching its services to diverse sections of people. Environmental Responsibility and Other Sustainability Initiatives Although Shalby Limited is not a manufacturing concern but a healthcare service provider, the company has gone further to take extra initiatives on this issue as pertains to its environmental impact. These include HVAC systems for efficiency improvement, which contributes a lot to reducing carbon emissions. This company also strives for water conservation through rainwater harvesting and reutilization of wastewater, showing its commitment to sustainability. Shalby goes all the way to claim that it adheres to all environmental laws and regulations so that its activities have minimal negative impact on the environment. Since the company is not a manufacturing one, recycling and waste management have not been prominent parts of its environmental strategy. However, in this report, it is mentioned that the company would like to remain watchful about its ecological footprint and adopt necessary measures to mitigate the risk associated with environmental degradation in the future. Patient Satisfaction and Service Innovation Shalby Limited embraces responses from patients to always strive for improvement. The company has complaint mechanisms through which patients give their views on the services offered, and it uses the same information to upgrade its health services. One of the significant innovations reported is the introduction of the 'ZERO technique,' a surgical approach meant to enhance efficiency and shorten hospital stays for patients. This innovation aligns with the company's commitment to providing high-quality, accessible healthcare to patients while boosting operational efficiency. Corporate governance and ethical practices Shalby follows strict corporate governance policies; for example, the company has adopted a no-tolerance level regarding bribery and corruption cases. It states that "the company is committed to ethical business conduct, ensuring that all subsidiary companies participate in business responsibility initiatives.". The company also shows transparency in its transactions, which can be shown by the fact that no monetary or non-monetary penalty was faced during the fiscal year.  Conclusion The Business Responsibility and Sustainability Report of Shalby Limited for FY 2023-24 underlines its holistic approach towards healthcare, the welfare of employees, and environmental sustainability. The company's continued efforts in the direction of making healthcare more affordable and accessible, along with its robust governance and sustainability policies, place it as one of the leading healthcare providers in India. Business ethics, employee care, and environmental sustainability remain intact in their core values and are followed while Shalby expands its operations in the country and abroad. Source: BRSR Credit: Shalby Limited

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