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.
(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.
(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.
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|
|Lot Size:||50 Shares|
|Current Unlisted Share Price:||₹ 1200 Per Equity Share|
|Year||Long-Term Debt||Short-Term Debt||Total Debt||NW||Debt/NW||RONW|
|Year||Current Assets||Current Liabilities||Current Ratio||Receivable Days||CFO||Capital Exp.||FCF|
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