Signify Innovations India Limited has announced its annual results. As per the annual report, for the financial year ending on March 31, the net profit of the company dropped 13%. However, the company has registered 12 percent growth from all business activities as against 14 percent last year. The company clocked a total income of Rs. 2824 crore in FY22 as against Rs. 2515 crore in FY21. The total expenses of the company increased 10 percent to Rs. 2489 crore in F22 from Rs. 2261 crore. The EBITDA of the company contracted 9 percent to Rs. 305 crore in F22 as against Rs. 335 crore last year, mainly due to a surge in price of raw materials. PBT dropped 8% to Rs. 315 crore in F22 from Rs. 342 crore in F21. PAT of the company dropped to Rs. 231 crore in FY22 as against Rs. 267 crore last year. The company registered a 13 percent drop in PAT. The company generated a net cash outflow of Rs. 306.3 crore in FY22 as against Rs. 599 crore in the previous year. The company declared an interim dividend of Rs. 37.50 per share on the fully paid equity shares for the financial year 2022. The conventional lamp business of the company has declined by 8% due to growing demand for LEDs. However, the company remained the market leader in the conventional lighting business. LED products contributed 82% of the total revenue of the company. During the recovery of the economy, the consumer lighting business delivered a healthy growth of 20%. The company has not made any major fund-based borrowings this year and has managed working capital requirements from internal cash generation. The year 2021-22 began on a volatile note with the second wave of COVID-19 severely disturbing the economic and social fabric of the entire country, and this in turn adversely affected all industries. However, despite the volatility in the country’s overall macro-economic environment during the year, the company recovered well in the remaining quarters of the year and managed to deliver good business results. To tap the growing opportunities, the company expanded its Philips Smart Light Hub network to 225 stores across India. The company also introduced several new innovative products such as the Philips HexaStyle downlight, India’s first hexagon-shaped LED downlight, and Philips Motion Sensor T-Bulb. This year, the company has bagged many prestigious projects such as Baroda Cricket Stadium in Baroda, Arun Jaitley Stadium in Delhi, in addition to other significant projects with JCB, Metro Rail, NHAI and many more.