Break The Chain
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Annual Report 2020-21
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Break

the Chain

2020 was all about the fight
between overarching challenges
and their possible solutions.

A year that highlighted the power of endurance and prudence was also the year that underlined the importance of precautions, promptness, and accuracy when it came to containing the spread of the COVID-19 pandemic.

The outbreak of COVID-19 reasserted the essential role of diagnostics in fighting pandemics. At a time when the world is battling a grave health crisis, if frontline warriors are the heroes, diagnostic centers are inarguably the essential support crew.

At Metropolis, we understand that effective diagnostic is vital for timely responding to the outbreak. We realise the role we play in generating a roadmap for the global good.

We are aware of the responsibility we must shoulder to take the world towards a safer tomorrow.

WE KNOW WE ARE THE ONES WHERE
THE CONCEPT OF ‘BREAK THE CHAIN’
BEGINS! AND THIS, IS OUR STORY!

CHAIRMAN’S MESSAGE

We are proud of the resilience Metropolis has shown in this difficult time to ensure personal safety and at the same time, running the operations with limited interruptions, which led to a sustained performance during the year.

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LETTER FROM MD’S DESK

We were the first private lab in the country to start testing for COVID-19. With the best turnaround time, continuous medical engagement with doctors and government authorities, strong branding and customer equity, we were successful in churning out COVID-19 related tests.

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HIGHLIGHTS OF THE YEAR

Our revenue contribution from
COVID and Non-COVID business (%)

HIGHLIGHTS OF THE YEAR

Our revenue contribution from
COVID and Non-COVID business (%)

Due to higher test volumes and value per test, COVID-19 Tests contributed a significant portion of our revenue in Q1 and Q2FY21, whereas Non-COVID business continued to rebound in Q3FY21 strongly.

Non-COVID business grew significantly YoY in Q4FY21. While the number of COVID-19 tests increased in Q4FY21 but revenue contribution decreased with the Government’s decision of lower pricing.

Q1FY22 witnessed COVID-19 infections increasing again which was soon followed by lockdown restrictions. In the medium term, as the vaccination campaign gains traction, the Non-COVID industry is expected to thrive. Going ahead, we anticipate increased revenue from COVID-19 allied tests in FY22.

FOR THE FIRST TIME, 8 LAKH NEW CUSTOMERS USED METROPOLIS FOR COVID TESTS. IN H2FY21, WE SAW A HEALTHY CONVERSION RATE OF 10% OF CUSTOMERS WHO TRIED METROPOLIS FOR A NON-COVID TEST. WE ANTICIPATE HIGHER CONVERSION RATES IN THE COMING QUARTERS.

  • 998 Crores, up 17%
    Revenue in FY21 and Percentage
    Growth as Compared to FY20
  • 288 Crores
    EBIDTA
  • 183 Crores, up 44%
    PAT in FY20 and Percentage
    Growth as Compared to FY20
  • 58%, up 200 bps
    Percentage Revenue Share
    of B2C in Focus Cities
  • 9.8 Million
    Patient Visits
  • 19.0 Million
    Tests Conducted in FY20-21

EBIDTA: Earnings Before Interest, Depreciation, Taxes and Amortisation |PAT: Profit after Tax |B2C: Business to Customers

  • 998 Crs, up 17%
    Revenue in FY21 and Percentage
    Growth as Compared to FY20
  • 288 Crs
    EBIDTA
  • 183 Crs, up 44%
    PAT in FY20 and Percentage
    Growth as Compared to FY20
  • 58%, up 200 bps
    Percentage Revenue Share
    of B2C in Focus Cities
  • 9.8 Mn
    Patient Visits
  • 19.0 Mn
    Tests Conducted in FY20-21
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CREATING VALUE

Breaking the chain by going beyond promises

  • Vision
  • Mission
  • Values
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SETTING HIGHER BENCHMARKS

Breaking the chain by leading with experience

Dr. Sushil Kanubhai Shah

Designation: Chairman & Executive Director

Qualification: Bachelor’s degree in Medicine and Surgery and Ph.D Medicine in Pathology and Bacteriology from the University of Bombay

Experience: More than three decades of experience in pathology.

Sushil Kanubhai Shah was one of the partners of Metropolis Healthcare Services and Metropolis Lab. He was awarded the Maharashtra Gaurav Award by the Government of India and the Lifetime Achievement Award at the Six Sigma Healthcare Excellence Awards. He was also awarded the Rajiv Gandhi Excellence Award by the Indian Solidarity Council and the Rashtriya Chikitsak Ratna Award by the National Education & Human Development Organisation. He has been a Director on our Board since 2005.

Ms. Ameera Sushil Shah

Designation: Managing Director

Qualification: Bachelor’s degree in Business Administration from the University of Texas, Austin, completed the Owner-President Management Programme from Harvard Business School, Harvard University.

Experience: More than two decades of experience in pathology business.

Ameera Sushil Shah was one of the partners of Metropolis Healthcare Services and Metropolis Lab. She was featured by the Forbes Asia as one among the Asia’s Women to Watch in 2015 and was also recognised by the Fortune India as one of the Most Powerful Women in 2017, 2018 and 2019 and by Business Today in 2018 and 2019. She was also awarded the Women in Leadership Award by Bloomberg and UTV and was recognised as one of the Inspiring Business Leaders of India and 40 under forty-India’s Respected Business Leaders by the Economic Times. Additionally, she was also awarded the Corporate Championship Award by the US India Business Council. She has been a Director on our Board since 2008.

Mr. Vivek Gambhir

Designation: Non-Executive Independent Director

Qualification: Bachelor’s degree in both Science and Arts from the Lafayette College, Pennsylvania. He also holds a Master’s degree in Business Administration from the Harvard University.

Experience: More than 10 years of experience in operations and strategy.

Prior to joining the Company, Mr. Vivek Gambhir has worked with Bain & Company India Private Limited and Godrej Industries Limited & associate Companies. He was a founding member of Bain’s consulting operations in India and led the firm’s FMCG. He has been a Director on our Board since 2018.

Mr. Sanjay Bhatnagar

Designation: Non-Executive Independent Director

Qualification: Master’s degree in Engineering from the Stanford University. He also holds Master’s degree in Business Administration from the Harvard University.

Experience: More than 16 years of experience in project development, marketing, and operations management.

Sanjay Bhatnagar has served as the Chairman of the American Chamber of Commerce in India and as a Board member of the US India Strategic Partnership Forum. Prior to joining the Company, he has worked with Enron India Private Limited, WaterHealth International Inc. and the THOT Capital Group LLC. . He has been a Director on our Board since 2018.

Mr. Milind Sarwate

Designation: Non-Executive Independent Director

Qualification: Bachelor’s degree in Commerce from the University of Bombay, He is also a qualified Chartered Accountant, Company Secretary and Cost and Works Accountant.

Experience: More than three decades of experience in consumer products and services.

Milind Shripad Sarwate is an associate of the Institute of Chartered Accountants of India, the Institute of Company Secretaries of India and the Institute of Costs and Works Accountants of India. Prior to joining the Company, he has worked with Godrej Soaps Limited and Marico Limited. He was also a participant at the Fulbright - CII fellowship for leadership in the management programme at the Carnegie Mellon Graduate School of Industrial Administration, U.S.A. He was a recipient of the Best Performing CFO award by CNBC TV18 and was also inducted into the CFO India Hall of Fame by the CFO India magazine. He was also awarded the ICAI Award 2011 in CFO – FMCG Sector category. He is also a designated partner of Increate Value Advisors LLP. He has been a Director on our Board since 2018

Ms. Anita Ramachandran

Designation: Additional Non-Executive Independent Director

Qualification: MBA (Finance) from the Jamnalal Bajaj Institute

Experience: More than 3 5 years of experience as a management consultant.

Anita Ramachandran began her career in the Management Consultancy division of AF Ferguson & Co (the KPMG network company in India then) in Mumbai in 1976 as the first woman consultant in the firm and worked in a wide range of areas from finance, industrial market research, strategy, and human resources consulting. She founded M/s. Cerebrus Consultants in the year 1995 to focus on HR advisory services, which has now established itself as a specialist firm in the HR field. She has been involved with companies such as the ICICI group, Bajaj Auto, Bharat Forge, Vodafone. Her wide general management consulting experience and insights on HR has enabled her to be a strategic advisor to many family groups. She supports many organisations in the social sector through pro bono professional work and remains deeply committed to working with women.

Mr. Hemant Sachdev

Designation: Additional Non-Executive Director

Qualification: BA (Political Science) from Delhi. An alumni of the Harvard Business School

Experience: More than 20 years of experience.

Mr. Hemant Sachdev is a BA in Political Science from Delhi and an alumni of Harvard Business School. He is a first generation entrepreneur and has over 2 decades of experience. He has his business interests in Retail, Distribution and Education.

LEADERSHIP TEAM

Dr. Sushil Kanubhai Shah Chairman and Executive Director
Ms. Ameera Sushil Shah Managing Director
Mr. Vijender Singh Chief Executive Officer
Nilesh Jadavji Shah Group President & Head of Science & Innovation
Mr. Rakesh Agarwal Chief Financial Officer
Ms. Ishita Medhekar Chief Human Resource Officer
Mr. Kannan A. Chief of Service Operations