
Versuni India (formerly Philips Domestic Appliances India) is a licensed-brand manufacturer and distributor of small home appliances — and the structure is more interesting than a typical consumer company.
The core setup
It's 96.13% owned by Versuni Holding B.V. (Netherlands), which spun out of Philips globally. The India entity doesn't own the brands it sells. It licenses "Philips" from the Dutch parent and pays for it — ₹34.1 crore in brand licence fees plus ₹14.3 crore in royalty last year. Preethi, acquired via the composite scheme from Philips India, sits on the books as goodwill of ₹119 crore.
So there are effectively two brand plays: Philips (global, premium, licensed) and Preethi (owned, South India, mixer-grinder dominant).
How money actually comes in
Revenue was ₹2,173 crore, up 15.5%. But look at the gross-to-net gap: contracted price was ₹2,569 crore, and after sales returns (₹68 cr) and rebates (₹329 cr), you land at ₹2,173 crore. Roughly 13% of gross billing goes back to channel partners as volume rebates.
That's the tell — this is a trade-driven distribution model. Sales happen through dealers and retailers who earn rebates on hitting volume thresholds, not direct-to-consumer. One customer alone accounts for 20% of revenue (₹429 crore), up from 15% last year. That's likely a large-format retailer or e-commerce platform, and it's a concentration risk worth watching.
The cost structure tells the strategy
Two things dominate spending after materials:
Advertising and sales promotion: ₹252 crore — 11.6% of revenue. Enormous. The 'Sone Pe Suhaga' campaign, the Wheel of Fortune tie-up, Ranveer Brar for OneChef. This is a brand-spend business.
Warranty provisions: ₹40 crore held — because they offer lifetime free service on some products and 3-year warranties as a differentiator.
Meanwhile, R&D is only ₹12.6 crore. Innovation here means product configuration and localisation, not deep technology development.
The shift that drove profitability
This is the most important thing in the numbers. Cost of materials consumed nearly doubled — ₹289 cr to ₹558 cr. Purchases of stock-in-trade fell from ₹900 cr to ₹551 cr.
They moved from importing finished goods to manufacturing them in India. Ahmedabad and Chennai plants expanded, 25,000 sq metres combined. Gross margin expanded 320 bps to 43.5%. PAT jumped 38.7% to ₹172.6 crore on 15.5% revenue growth — operating leverage from localisation.
The cash machine
Operating cash flow went from ₹59 crore to ₹469 crore. Working capital swung ₹267 crore positive as they released inventory (traded goods stock dropped from ₹209 cr to ₹75 cr) and stretched payables (up ₹160 cr). Zero debt. ₹410 crore sitting in cash and deposits.
Dividends of ₹97.8 crore went out, of which ₹94 crore went to the Dutch parent. That's the repatriation channel — plus the licence fees and royalties.
What's coming
The board approved an IPO in October 2025 — an offer for sale, meaning existing shareholders selling down, not fresh capital raised. NRI/OCI investment limits were raised from 10% to 24%. An ESOP plan for 11.5 lakh options was approved. Notably, shareholders voted down a bonus issue and capital increase.
So the model in one line: license global brands, localise manufacturing to expand margin, spend heavily on advertising to drive channel pull-through, pay the parent via royalties and dividends, and now list to give shareholders an exit.
The vulnerability is structural — the biggest brand is rented, not owned, and the licence terms aren't disclosed here.
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Revenue | 1,781 | 1,745 | 1,881 | 2,173▲16% |
| EBITDA | 204 | 184 | 190 | 259.5▲37% |
| OPM (%) | 11.45 | 10.54 | 10.1 | 11.94▲18% |
| PBT | 196 | 164 | 167 | 231.4▲39% |
| PAT | 145 | 121 | 125 | 172.6▲38% |
| EPS (₹) | 25.22 | 21.04 | 21.74 | 30.01▲38% |
Official annual reports and financial statements filed by Versuni India Home Solutions Limited, year by year. PDFs open in a new tab.
Please find below the procedure for buying Versuni India Home Solutions Limited at UnlistedZone.
Please find below the procedure for selling Versuni India Home Solutions Limited at UnlistedZone.
The lock-in period for Versuni India Home Solutions Limited varies depending on the category of investors:
This regulation was introduced by SEBI in August 2021. The rule change, which reduced the lock-in period from one year to six months, was aimed at encouraging more investments in startups that are preparing for public offerings or IPOs. This reduction in the lock-in period is seen as a significant step forward, and since its introduction, many Portfolio Management Services (PMS) have been advising their clients to invest in Pre-IPO shares to capitalize on the benefits of early-stage investments.
However, for SME IPOs, the lock-in period is of One year.
DIS, or Delivery Instruction Slip, is a tool used by investors to sell or transfer Versuni India Home Solutions Limited from their demat account to another. There are two types of DIS Methods:
1. Offline-DIS: This is a traditional, paper-based method for transferring shares. When using Offline-DIS, investors are required to fill out a DIS form and submit it to their broker. The necessary fields in the form include:
a. ISIN number of Versuni India Home Solutions Limited.
b. Name of Versuni India Home Solutions Limited.
c. Quantity of Versuni India Home Solutions Limited.
d. Consideration Amount.
e. Target DP ID and Client ID.
f. Annexure.
2. Online DIS: Some brokers offer the facility to transfer Versuni India Home Solutions Limited through an online DIS system. It's advisable to check with your broker if such a facility is available.
For instance, platforms like Angel Broking provide an Online-DIS feature. In this method, an investor simply needs to add a beneficiary and transfer Versuni India Home Solutions Limited by filling in details similar to those required in the Offline-DIS.
For a more comprehensive understanding of this process, you can refer to our detailed article: https://unlistedzone.com/how-do-i-sell-my-unlisted-shares/
In recent years, the unlisted share market has expanded significantly, leading to a reduction in the minimum investment amount. Previously, the typical investment ticket size ranged from 5-10 Lakhs, but in the current market scenario, it has decreased to between 35-50k. Therefore, through our UnlistedZone platform, if someone wishes to invest in Versuni India Home Solutions Limited, the minimum investment required would now be in the range of 35-50k
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates:
Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favorable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period:
The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance.
When you purchase Versuni India Home Solutions Limited through UnlistedZone, it's important to note that, as per SEBI regulations, these shares can only be transferred to a demat account.
There are two primary ways to check the credit of Versuni India Home Solutions Limited in your account:
1. Using NSDL or CDSL Applications:
Download the NSDL or CDSL application from the Google Play Store.
To determine whether your stock broker is registered with NSDL or CDSL, you can examine the format of your Demat Account number. The Demat Account number consists of 16 characters, combining the DP ID and Client ID.
DP ID is the unique identification number of the Broker, assigned by CDSL or NSDL.
Client ID is the unique identification number of the Client, representing their portfolio.
In CDSL, the Demat Account number is entirely numeric (e.g., 12345678 for DP ID and 91234567 for Client ID).
In NSDL, the first two characters are alphabetic, representing the country (e.g., 'IN' for India), followed by a 6-digit unique number for the Broker (DP ID) and an 8-digit Client ID (e.g., IN123456 for DP ID and 78912345 for Client ID).
2. Checking in Broker's Application:
The credit of Versuni India Home Solutions Limited can also be checked in your broker's application. However, it's important to note that it may take T+2 days for the shares to show up in the application after the transaction.
The Versuni India Home Solutions Limited are credited in the demat account on the same day as the transfer of funds into our company's bank account.
"The price of Versuni India Home Solutions Limited can be checked in two ways. First, you can join our Telegram channel, where we share the latest prices of all unlisted shares daily in the morning. Secondly, you can check price on our UnlistedZone platform to view historical graphs and prices of all shares in one place."
Investing in Versuni India Home Solutions Limited, like any investment, carries certain risks that should be carefully considered:
1. Liquidity Risk: Unlisted shares, by their nature, are not traded on public stock exchanges. This can result in lower liquidity compared to listed shares, meaning it might be more challenging to find buyers when you wish to sell your shares.
2. Price Volatility: The price of Versuni India Home Solutions Limited can be more volatile compared to listed shares. This is partly due to the lack of regular public trading and potentially limited information available about the company's financial health and performance.
3. Regulatory Risk: Unlisted shares are subject to different regulatory frameworks than listed shares. Any changes in regulations or compliance requirements can impact the value and tradeability of these shares.
4. Limited Information: There may be less publicly available information about unlisted companies. This can make it more difficult to assess the company's true value and potential for growth, increasing the risk of investment.
5. No Guarantee of Future Listing: Investing in Versuni India Home Solutions Limited with the expectation of future listing on a public exchange carries the risk that the listing may not occur. This can affect both the liquidity and potential value appreciation of the shares.
6. Company-Specific Risks: Each company has its own set of risks based on its industry, management, financial health, and market position. These risks can significantly impact the performance of your investment in Versuni India Home Solutions Limited.
UnlistedZone: Pioneering Excellence in India's Unlisted Share Market
UnlistedZone stands as India's fastest-growing and leading marketplace for buying and selling unlisted shares. Over the past 5 years, we have carved a niche in the financial market, website hit user inflows over a 2 million users on our platform since inception. This remarkable journey is underscored by the sheer volume of transactions facilitated through UnlistedZone, which has already surpassed the 300 Crore mark.
At the helm of our success are our esteemed co-founders, Mr. Umesh Paliwal and Dinesh Gupta. Their insights and expertise are regularly sought after by leading financial publications such as MoneyControl, Business Standard, and The Economic Times, particularly for their authoritative views on IPOs and the unlisted market. Our journey over these 5 years has not just been about numbers; it's been about building trust and reliability.
UnlistedZone has established a formidable reputation in the industry, earning the trust and confidence of our users. This trust is our cornerstone, ensuring that new investors can engage with us without the apprehensions of fraud that are often associated with unknown brokers in the market.
At UnlistedZone, we are committed to maintaining the highest standards of transparency and integrity, ensuring that your investment journey is not just profitable but also secure and trustworthy.
Valuation Methodology at UnlistedZone for Versuni India Home Solutions Limited
At UnlistedZone, we employ a meticulous and strategic approach to valuing Versuni India Home Solutions Limited, utilizing two primary methods: Benchmark Valuation Based on Latest Funding:
1. Our first step is to examine the most recent funding round for Versuni India Home Solutions Limited. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts. This method is particularly effective in capturing the latest market sentiment and financial health of the company.
2. Comparison with Listed Peers: In cases where there hasn't been recent funding for Versuni India Home Solutions Limited, we adopt a comparative approach. This involves identifying a business in the listed market that closely resembles Versuni India Home Solutions Limited in terms of industry, size, and business model. By comparing and contrasting the two, we can ascertain a fair valuation for Versuni India Home Solutions Limited, drawing on the market data and performance metrics of its listed counterpart.
Investor Advisory: As experts in the unlisted space, we at UnlistedZone emphasize the importance of thorough risk assessment to all our investors. It's crucial to evaluate all risk parameters carefully before investing in unlisted shares. This due diligence is key to making informed and strategic investment decisions in the dynamic and evolving unlisted market.
"At UnlistedZone, our approach to sourcing Versuni India Home Solutions Limited involves a strategic and direct method. Primarily, we acquire these shares from two key groups:
1. Employees of the Company: Often, employees of a company receive shares as part of their compensation or through employee stock option plans (ESOPs). Over time, some of these employees may decide to liquidate their holdings for various reasons, such as financial needs or portfolio diversification. We engage with these employees, providing them a platform to sell their shares.
2. Initial Investors: These are the early-stage investors or angel investors who provided capital to the company during its initial phases. As the company grows and evolves, these initial investors might look to sell part or all of their stake in the company. This could be for reasons like capitalizing on their investment, reallocating assets, or other strategic financial decisions.
By connecting with these groups, UnlistedZone ensures a reliable and consistent supply of Versuni India Home Solutions Limited for our clients. This method not only helps employees and initial investors in liquidating their assets but also provides our clients with access to shares that are not readily available in the public market. It's a win-win for both the sellers and buyers, facilitated efficiently through our platform."
"The Securities and Exchange Board of India (SEBI) does have a regulatory influence on the unlisted market, though it's not as comprehensive as its oversight of the listed markets.
Key aspects of SEBI's involvement in the unlisted space include:
1. Applicable Rules and Regulations: Certain SEBI regulations are indeed applicable to transactions in the unlisted market. This includes the mandatory lock-in period of 6 months, the requirement to pay stamp duty, and depository participant (DP) charges for every transaction. These measures are in place to ensure a certain level of standardization and protection in the unlisted market, similar to those in the listed markets.
2. Lack of Specific Regulation for Unlisted Brokers: As of now, SEBI does not have specific regulations for becoming an unlisted broker. This means that while certain SEBI rules apply to transactions within the unlisted market, the process of becoming a broker in this space is not directly regulated by SEBI. This lack of direct regulation highlights the importance of due diligence by investors when engaging with brokers in the unlisted market.
3. Investor Protection and Transparency: The regulations that do apply, such as the lock-in period and transaction charges, are designed to protect investors and add a layer of transparency to these transactions. They aim to mitigate some of the risks inherent in trading unlisted securities, which typically don't have the same level of public scrutiny and regulatory oversight as listed securities. In summary, while SEBI's regulatory framework does extend to certain aspects of the unlisted market, it does not comprehensively regulate all aspects of it, particularly concerning the accreditation of unlisted brokers. This underscores the need for investors to exercise caution and conduct thorough research when participating in the unlisted market."
"For comprehensive and up-to-date news and information about Versuni India Home Solutions Limited, we have several platforms to keep you informed. Our website is regularly updated with the latest insights and developments. For real-time updates and engaging discussions, you can join our Telegram channel. Additionally, follow us on Twitter for quick news bites and industry trends. And for more in-depth analysis and informative content, subscribe to our YouTube channel. These resources are designed to provide you with a well-rounded understanding of the unlisted market, ensuring you have access to all the information you need about Versuni India Home Solutions Limited."
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