For over 120 years, Signify Innovations (Previously Philips Lighting) has been at the forefront of innovation. They use the transformative power of light to make people more comfortable and productive– providing high-quality light in public places, professional spaces, and at home. They use light to make people feel happier and safer – light that entertains, inspires, and informs, makes cities more livable, and satisfies people’s daily needs.
Philips is taking lighting beyond illumination with connected lighting innovations for the home, retail environments, offices, cities, and more.
Philips pioneered the development of high-quality, energy-efficient LED lighting. They are now taking lighting into a fully digital world that connects people, places, and devices. They foresee a day, in the near future, when all their lamps, luminaires, and system devices will be digital and network-ready. Using a combination of patented technologies and open standards, their lighting innovations will connect seamlessly to benefit the customers and the environment.
Philips Products
(i) Hue Personal Wireless Lighting System:
Everyone must be wondering what is Hue Wireless Lighting System. This is an innovative product designed by Phillips in which you can control the light in the room with the beat of your music, Isn’t it a wonderful concept? Easily synchronize your Philips Hue lights with your favorite music. Create the perfect atmosphere with light that matches your favorite songs.
(ii) Led Lights:
Everyone these days is talking about the LEDs. So what is that which separates LEDs from conventional bulbs?
1. Create a warm, cozy atmosphere with LED lighting.
2. Longer lifetime and uses up to 90% less energy than traditional sources.
3. Enjoy perfect light quality, instant-on with no warm-up time.
The Phillips is Leader in when it comes to LED Lighting.
Click here for more information.
(iii) Luminary and Bulbs:
A perfect luminary can help light up every room. From wall lamps to ceiling pendants provide the perfect light for your home. Decorative light bulbs help in enhancing your home and adding a perfect light to it. These lighting fixtures enhance the look of your home and add a unique lighting mood.
Click here for more information.
Business Performance in FY18-19:
(i) The lighting industry continued its transformation towards LED lighting, owing to declining LED prices and favorable government initiatives. There has been an increase in the adoption of LED lighting across homes, commercial, and government projects across the country in the past year. The government has also implemented several streetlighting projects during the year, installing LED streetlights that are more energy-efficient and offer a higher light output.There is an increase in the total market share of LED lights among all available conventional lighting methods, to 82% from 73%, in 2018-19.
(ii) However, in 2018-19, the lighting industry also witnessed an increased influx of low cost and spurious lighting products that don’t follow safety regulations specified by the government. The market of such players has grown by 5.6% in the market this year.
(iii) Due to the phase-out of CFL-I lamps in the Indian market and rapid shift to LED, the management has closed down it’s Mohali CFL plant and is in the process of finding the buyers for land and remaining assets.
Business Highlights of FY19-20
(i). In FY19-20, the LED products have generated 83% of the revenue under lightning business which is almost same as that of last year.
(ii). In FY19-20, the company has launched 70 new exclusive Philips Smart light hubs with increasing urbanization & focus towards Home connected lighting solutions.
(iii). About 92% of what company sell in India is made in India and this de-risks the production from external factors.
(iv). The company has manufacturing unit in Vadodara which exports conventional and LED lamps to 29 countries across the world, and is also one of the most cost competitive conventional lamp manufacturing facilities in the world for Signify.
(v). The company has R&D lab in Noida. In FY19-20, the company has designed products such as – Philips T-beamer, Philips T-bulb to name few.
(vi). The Professional lighting solutions witnessed a de-growth of 28%, owing to reduced EESL tenders, limited government projects post the general elections in 2019, & economic slowdown especially in Infrastructure category. However, despite this, company got prestigious projects such as;
a) Motera stadium in Ahmedabad, the world’s largest cricket stadium.
b) Illuminating the iconic Qutub Minar in the capital city New Delhi
c) Illuminating the Howrah Bridge in Kolkata.
Key Takeaways of Philips Lighting Unlisted Share for FY20-21
1. The company reported a profit after tax (PAT) of Rs 267.6 crore in the financial year 2020-21 as against a profit of Rs 181.7 crore in the financial year 2019-20. PAT/Revenue ratio stood at 10.7%, which was 6.3% in the previous year.
2. The company reported a revenue of Rs 2515 crore in the financial year 2020-21 as against a revenue of Rs 2919 crore in the financial year 2019-20.
3. The company registered a degrowth of 14% in the latest fiscal, against a degrowth of 19% in the previous fiscal. The company attributed decline in professional lighting and government business, slow down in infrastructure spending, liquidity crunch in Indian markets due to defaults by few NBFCs, price erosions due to competitiveness in market and the predominantly due to the impact of Covid-19 outbreak and consequent lockdowns across India for the decline.
4. The impact due to Covid-19 was wide-spread and impacted lives, livelihood and totally disrupted consumer markets and supply chains. The demand of company products was severely affected due to the lockdown.
5. The Company has not made any major fund-based borrowings in this year and has managed working capital requirements from internal cash generation. Capital expenditure during the year was Rs 20.5 crore against a Capex of Rs 121.9 crore in the previous year and investment in new plant and machinery and IT equipment’s etc
6. The company has announced a dividend of Rs 62.5 (625%) per equity share, with a face value of Rs 10 each, for the financial year ended on March 31, 2021. The company will pay a dividend worth Rs 359.48 crore to the shareholders as dividend. Dividend paid or distributed by the Company shall be taxable in the hands of the Shareholders.
7. Financial year 2021 was a challenging year for the company business. The COVID-19 pandemic spread across all parts of the country and many states remained under lockdown for several months.
8. The LED transformation continued with LED products generating 79% of the company’s lighting business, reflecting that the country is close to its peak LED conversion rates, owing to easy availability and lower prices of LED lighting products.
9. The professional lighting solutions of the company witnessed a de-growth of 25.4%, owing to reduced EESL tenders, delayed government and commercial projects, as most offices remained closed due to the lockdown, resulting in limited demand for lighting solutions.
| Total Available Shares: | 200 |
| Face Value: | ₹ 10 Per Equity Share |
| ISIN: | INE045U01015 |
| Lot Size: | 30-80 Shares |
| Current Unlisted Share Price: | ₹ Best in Industry Per Equity Share |
| Year | Revenue | EBITDA | OPM | PAT | NPM | Shares | F.V. | EPS |
| 2017 | 3,338 | 257 | 8% | 98 | 3% | 5.75 | 10 | 17.10 |
| 2018 | 3,531 | 386 | 11% | 190 | 5% | 5.75 | 10 | 33.18 |
| 2019 | 3,592 | 331 | 9% | 197 | 5% | 5.75 | 10 | 34.35 |
| 2020 | 2919 | 343 | 12% | 181 | 6% | 5.75 | 10 | 31.6 |
| 2021 | 2515 | 324 | 12.8% | 264 | 10.4% | 5.75 | 10 | 45 |
| Year | Long-Term Debt | Short-Term Debt | Total Debt | NW | Debt/NW | RONW |
| 2017 | 4.0 | 0 | 4.0 | 427 | 0.01 | 23% |
| 2018 | 5.9 | 0 | 5.9 | 481 | 0.01 | 40% |
| 2019 | 4.8 | 0 | 4.8 | 540 | 0.01 | 37% |
| 2020 | 0 | 0 | 0 | 500 | 0 | 36% |
| 2021 | 0 | 0 | 0 | 720 | 0 | 36% |
| Year | Current Assets | Current Liabilities | Current Ratio | Receivable Days | CFO | Capital Exp. | FCF |
| 2017 | 1,022 | 801 | 1.27 | 42 | 376 | 27 | 349 |
| 2018 | 1,237 | 959 | 1.29 | 48 | 187 | 21 | 165 |
| 2019 | 1,368 | 1,011 | 1.35 | 46 | 253 | 17 | 235 |
| 2020 | 980 | 721 | 1.36 | 32 | 41 | 27 | 14 |
| 2021 | 1512 | 999 | 1.51 | 33 | 576 | 20 | 556 |
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828, Sector 2B, Vasundhara, Delhi-NCR, India 201012
indian_ceaser
333 Shares available for immediate sale at ₹ 900 per piece only… EPS=45 rupees, so share is only at 20x. current market at 40x… hence a steal.
Market Wizard
Currently, as on 14.03.2020, the Unlisted market price of the stock is 530.
1. Mcap = ~ 3000 Cr
2. Revenue = 3500 Cr.
So, on the basis of Mcap/Revenue, the company is undervalued.
Plus company in the year 2018-19 has given a dividend of Rs. 30, which translates 5.6% of dividend yield.
seller
looking to sell @600/share
Market Wizard
The company has recommended payment of Rs. 30/- (300%) per share as a dividend on the fully paid equity shares for the financial year ended 31st March 2019.
The company has recommended payment of Rs. 20/- (300%) per share as a dividend on the fully paid equity shares for the financial year ended 31st March 2018.
So. in the last 2 years the company has already given Rs. 50 as a dividend.
Market Wizard
They have demerged light business from Philips India.
Market Wizard
Philip Lightning India was demerged in 2017 from Philips India Limited.
For every one share of Face Value Rs. 10 of Philip India, one share of Face value Rs.10 of Philips Lighting India was given.
UZAdmin
On February 1, 2016, Koninklijke Philips N.V.(‘KPNV’) and Philips Lighting Holding B.V. entered into the Separation Agreement and a set of ancillary agreements, together effectuating the Separation of their respective businesses and providing a framework for the relationship between Royal Philips and Philips Lighting thereafter (the ‘Separation’). An addendum to the Separation Agreement was entered into on
May 4, 2016. Furthermore, the Separation Agreement and ancillary agreements were assigned to the Company prior to May 31, 2016.