Philips India Limited has announced its annual report for the financial year 2023. Philips India Limited is primarily involved in the manufacturing of Health System Machines (MRIs, CT Scan, Digital X-ray), Personal Care (Trimmer, Hair Dryer), domestic appliances (iron, juicers, food processor) and Innovation center. The company has a manufacturing plant in Pune and a software development center in Bengaluru. Financial Takeaways As per the report here are key financial highlights for FY23 compared to FY22: 1. Total Revenue: In FY23, the Company's total revenue from operations increased by 5% to Rs. 5734 crore as against Rs. 5481 crore in FY22. 2. Total Expenses: During FY23, the total expenses of the Company also increased by 3% to Rs. 5485 crore as against Rs. 5312 crore in FY22. 3. Profit Before Tax: The profit before tax of the Company in FY23 increased by an impressive 42% to Rs. 320 crore as against Rs. 233 crore in FY22. 4. Profit After Tax: However, in FY23, the profit after tax of the Company decreased by 2% to Rs. 260 crore as against Rs. 265 crore in FY22. 5. Earnings Per Share (EPS): The earnings per share in FY23 (basic and diluted) of the Company dropped marginally to Rs. 45.21 as against Rs. 46.23 in FY22. 6. Total Assets: In FY23, the total assets of the Company decreased significantly by 25% to Rs. 3240 crore as against Rs. 4344 crore in FY22. 7. Total Equity and Liabilities: Simultaneously, the total equity and liabilities of the Company also dropped by 25% to Rs. 3240 crore as against Rs. 4344 crore in FY22. 8. Net Cash from Operating Activities: The net cash generated from operating activities of the Company in FY23 was Rs. 341 crore as against Rs. 131 crore in FY22. 9. Net Cash from Investing Activities: The net cash used in investing activities of the Company in FY23 was Rs. 52 crore as against Rs. 368 crore cash generated in FY22. 10. Net Cash from Financial Activities: The net cash used in financial activities of the Company in FY23 was Rs. 1392 crore as against Rs. 115 crore in FY22. Business Takeaways 1. During the year 2022-23, the Health Systems business of the Company faced headwinds due to the global macro-economic scenario, resulting in a high single-digit de-growth in the addressable market compared to the previous year. 2. The pandemic led to an acute increase in healthcare needs, providing strong tailwinds to the industry. 3. The Company strategically navigated through challenges posed by inflation, adverse currency fluctuation, and supply chain disruptions. 4. Despite the headwinds, the Company maintained its market share by leveraging strong relationships with strategic key accounts, multi-modality deals, long term contracts, and winning Government tenders. 5. The launch of MR 5300 in 2021 solidified the Company's position as the only player with a Wide Bore, Helium-free system catering to the needs of bariatric patients and addressing the global helium shortage. 6. Several new products were introduced during the year, including the expansion of General Care Solution with the new IntelliVue Guardian Software App, MR 7700 – a Premium 3T MRI system with seamless integration of multi-nuclei, and the Philips Portable Ultrasound Compact 5000 Series, with enhanced scanning time and power-up capability. 7. The Company's global innovation strengths at Bangalore (PIC) and global design and manufacturing capabilities at Pune (HIC) are contributing to the success of "Make in India" medical equipment. 8. The Affiniti series of Ultrasounds (Affiniti 30, Affiniti 50, Affiniti 70) manufactured in India are significant contributors to Philips Ultrasound business in the country. 9. Personal Health business delivered a marginal growth of 7.5%* over the previous financial year despite a volatile and dynamic macro environment. This growth was delivered in a highly competitive environment with low-cost players and challenges due to increase in cost trends of the commodities and adverse currency fluctuations. https://unlistedzone.com/shares/buy-sell-share-price-philips-india-limited-unlisted-shares/