HLL Lifecare’s Generous Dividend Contribution

HLL Lifecare Limited, a state-owned entity, has made a significant dividend payment of Rs 122.47 crore to the health ministry for the financial year 2021-22. The dividend presentation took place at an event attended by Union Minister of Health, Mansukh Mandaviya, who received the cheque from Beji George, Chairman and Managing Director of HLL.

Financial Performance Highlights

In the fiscal year 2021-22, HLL Lifecare Limited achieved remarkable financial milestones, boasting a record turnover of Rs 35,668 crore and a profit before tax amounting to Rs 551.81 crore.

Pandemic Support and Nodal Role

Minister Mandaviya commended HLL Lifecare for its pivotal role in procuring and distributing emergency medical supplies during the COVID-19 pandemic. As the nodal agency for emergency medical procurement, HLL facilitated real-time crisis management, contributing significantly to the nation’s pandemic response efforts.

Sustainability Concerns and Responsible Behavior

While acknowledging the vital contributions of public sector undertakings (PSUs), Minister Mandaviya expressed concerns over their sustainability. Emphasizing the importance of financial discipline and responsible conduct, he underscored these factors as crucial for the long-term viability of PSUs.

HLL Lifecare: A Journey of Service

Established on March 1, 1966, HLL Lifecare Limited initially focused on producing contraceptives to support the government’s family planning initiatives. Over the years, the organization diversified its portfolio to include various healthcare segments such as hospital products, infrastructure management, medical equipment procurement consultancy, diagnostic services, and pharmaceutical retailing. Despite its evolution, HLL remained committed to its core mission of enhancing reproductive healthcare services while expanding its scope to address broader healthcare needs.

In summary, HLL Lifecare Limited’s substantial dividend payment and exceptional financial performance underscore its commitment to both fiscal responsibility and public health service delivery. As a stalwart in the healthcare sector, HLL continues to play a vital role in advancing the nation’s healthcare goals and responding effectively to emerging health challenges.