Philips India Limited Unlisted Shares Annual Reports

Philips India Limited Unlisted Shares

Impact with Care - Philips India Limited Annual Report 2023-24 Summary **Financial Highlights (FY 2023-24):** * **Sales:** Total sales reached ₹59,374 million, with Health Systems contributing 48%, Innovation Services 38%, and Personal Health 13%. Others contribute 1%. * **Profit Before Tax:** Increased to ₹3,269 million, a 1.9% growth compared to the previous year. * **Net Worth:** Total net worth increased to ₹14,896 million. * **Capital Expenditure:** Substantially increased to ₹6,201 million, allocated towards expanding HIC capacity, establishing a new PIC facility, and upgrading IT equipment. * **Retained Earnings:** Increased by ₹2,553 million, reaching a total of ₹14,321 million. * **Cash Balance:** Increased to ₹2,728 million. **Notice of Annual General Meeting (AGM):** * The 94th Annual General Meeting will be held on Friday, September 27, 2024, at 11:30 A.M. via Video Conference (VC) / Other Audio Visual Means (OAVM). * Key agenda items include: Adopting the financial statements, approving the appointment of Mr. Dev Kumar Tripathy as a director and as a Whole-time Director, appointing Mr. Angarai Dorairajan Aditya Ratnam and Mr. Harish Chawla as Directors, appointing Mr. Bharath Ram Raman Sesha as a Director and as Managing Director, and approving the remuneration of cost auditors. **Board of Directors & Key Personnel Changes:** * **Appointments:** * Mr. Bharath Ram Raman Sesha to Managing Director effective September 1, 2024. * Mr. Dev Kumar Tripathy as Whole-time Director and Chief Financial Officer. * Mr. Angarai Dorairajan Aditya Ratnam and Mr. Harish Chawla as Directors. * **Resignations:** * Mr. Daniel Mazon and Mr. Sudeep Agrawal from the position of Whole-time Director and Chief Financial Officer. * Ms. Pooja Bedi resigned from the position of Whole-time Director and Company Secretary. * Mr. S.M. Datta as Independent Director * **Composition:** * A.D.A. Ratnam is the Non-Executive Independent Director-Chairman * Geetu Gidwani Verma is the Non-Executive Independent Director * Dev Kumar Tripathy is the Whole - Time Director and Chief Financial Officer * Harish Chawla is the Whole - Time Director * Bharath Ram Raman Sesha is the Managing Director effective from September 1, 2024 **Business Performance:** * **Health Systems:** Delivered strong performance despite global economic headwinds. Focus on sales, distribution, contract manufacturing, and R&D for Philips Group in India. Launch of new MRI and Spectral CT technologies. * **Personal Health:** Faced a challenging environment with intense competition. Launched new products like Philips Nourish Care hair straightener. Leveraged digital marketing and celebrity endorsements to build brand relevance. * **Philips Innovation Campus (PIC):** Established in 1996 in Bengaluru, serves as a software research and development organization for Royal Philips. Hosts over 4400 professionals. Focuses on AI-based solutions, smartphone data analytics, and digital health solutions. Sales amounted to ₹22,700 million. **Material Changes and Commitments:** * The company's application for equity share capital reduction remains pending in NCLT. * A demand notice from EPFO was received; the Company filed a writ petition with the Karnataka High Court challenging this. The court has ordered a stay on the said demand. **Corporate Social Responsibility (CSR):** * Philips India focuses on healthcare and related issues, particularly for women, children, and adolescents. * CSR programs aim to improve healthcare access for disadvantaged communities through multi-year projects and awareness campaigns. * Collaborates with NGOs such as Smile Foundation and PCOS Society of India. * CSR amount spent for the Financial Year Rs. 53,351,453 **Other Key Points:** * The report includes details on board meetings, audit committee, CSR committee, stakeholders' relationship committee, and nomination and remuneration committee activities. * Internal control systems are considered adequate. * The Board of Directors confirms compliance with all applicable laws and regulations. * Focus on workforce transformation, cultural evolution, and employee empowerment. * Details provided on remote e-voting procedures for the Annual General Meeting. * Company is committed to continue the program to prevent sexual harassment of women.

Philips India Limited Unlisted Shares

The document is the Annual Report for Philips India Limited for the year 2022-23. It outlines the company's financial performance, strategic initiatives, and corporate governance practices. The report emphasizes "Making Care Accessible & Affordable" as its key mission. **Financial Highlights (2022-23):** * **Sales:** Increased to ₹56,682 million from ₹54,290 million in the previous year. * Health Systems contributed 47% of sales. * Innovation Services contributed 38%. * Personal Health contributed 14%. * Other activities contributed 1%. * **Profit Before Tax:** Decreased to ₹3,208 million from ₹3,642 million in the previous year. * **Net Worth:** ₹22,775 million * **Interim Dividend:** ₹222 per share was declared. No final dividend was recommended. * **Retained Earnings:** Showed a decline, mainly due to the interim dividend payout. * **Cash in Hand:** At year end was ₹2,118 million. **Key Areas of Business Performance:** * **Health Systems:** A modest performance considering global economic headwinds and a high single-digit degrowth in the addressable market. * **Personal Health:** Marginal growth of 7.5% despite economic volatility and competitive pressures. New product ranges were launched, focusing on consumer centricity and digital engagement. * **Innovation Campus (PIC-B), Bengaluru:** Played a critical role in developing cutting-edge technologies, software solutions, and patient-centric healthcare solutions and also is emerging as a Digital Solutions partner for the Businesses, Markets & customers. **Strategic Objectives & Initiatives:** * Building a sustainable business for long-term value creation, focusing on agility, leveraging brands and product expertise, and driving market development. * Emphasis on "Make in India" initiatives and innovation through Bangalore (PIC) and Pune (HIC) centers. * Digital transformation to maintain competitive edge. * Focus on continuous improvement of products, services, and operational efficiency. **Corporate Governance & Compliance:** * The Board of Directors consists of a mix of executive and non-executive independent directors, including S.M. Datta (Chairman), Daniel Mazon (Vice Chairman and Managing Director), Pooja Bedi (Whole-Time Director & Company Secretary), and Sudeep Agrawal (Whole-Time Director and Chief Financial Officer). * The report details the constitution and meetings of various board committees, including the Audit Committee, Corporate Social Responsibility Committee, Stakeholders' Relationship Committee, and Nomination and Remuneration Committee. * The Company affirms compliance with Secretarial Standards and the Prevention, Prohibition and Redressal against Sexual Harassment of Women Employees at Workplace Policy. * Details regarding the upcoming Annual General Meeting (AGM), including e-voting procedures, are provided. * Internal financial controls are deemed adequate and operating effectively. * The Company has appointed Dr. Asim Kumar Chattopadhyay as the Scrutinizer for the AGM through VC/OAVM. * Auditors M/s S.R. Batliboi & Co. LLP were re-appointed. * Internal review and benchmarking on processes, policies, infrastructural changes, required to provide “reasonable accommodation” to Persons with Disabilities (PwD) **Human Resources & Employee Relations:** * Focus on workforce development, inclusive environment, and empowering employees. * Emphasis on strategic workforce planning, talent development, and leadership programs. * Commitment to diversity and inclusion, including initiatives for women and the LGBTQ+ community. **Corporate Social Responsibility (CSR):** * CSR focus on healthcare and related issues, specifically maternal, child, and adolescent health. * Collaborations with NGOs like Smile Foundation and PCOS Society of India. * The company’s CSR policy is accessible via its website. **Financial Statement Details:** * Balance Sheet, Statement of Profit and Loss, Statement of Changes in Equity, and Cash Flow Statement are included. * Detailed notes on accounting policies, key estimates, financial instruments, and segment information are provided. * Information on related party transactions, remuneration of key personnel, and contingencies is disclosed. **Key Financial Ratios (FY 2022-23):** * Current Ratio: 1.40 * Return on Equity: 14.81% * Net Capital Turnover Ratio: 9.14 * Net Profit Ratio: 4.53% * Return on Capital Employed: 23.99% * Return on Investment: 6.86%

Philips India Limited Unlisted Shares

Here is a comprehensive summary of the provided PDF document: **Overview:** The PDF document is the Annual Report for 2021-22 of Philips India Limited, a publicly listed company operating in Healthcare Systems, Personal Health, and Innovation Services. The report details the company's financial performance, key business strategies, corporate social responsibility initiatives, and other statutory information. The financial statements are compliant with Indian Accounting Standards (Ind AS). The Annual General Meeting is scheduled for September 23, 2022. **Financial Performance:** * **Sales:** Sales increased to ₹54,290 Mln in 2021-22, up from ₹48,070 Mln in 2020-21. Health Systems account for 51.1% of sales, Personal Health 16.6%, and Innovation Services 31.4%. * **Profit:** Profit before tax stood at ₹3,642 Mln in 2021-22 compared to ₹2,531 Mln in 2020-21. Profit after tax reached ₹2,659 Mln versus ₹1,760 Mln. * **Net Worth:** Net worth increased from ₹22,775 Mln (Mar-22) compared to ₹23,950 Mln (Mar-21). * **Assets:** Gross property, plant, and equipment increased, but after accounting for accumulated depreciation, net property, plant and equipment showed a slight change from ₹8.794 Mln to ₹9.574 Mln. Current assets increased to ₹31,703 Mln (Mar-22), up from ₹22,852 Mln (Mar-21). * **Dividend:** The Directors recommend a dividend of ₹3 per share for the financial year ended March 31, 2022. **Business Operations and Strategy:** * **Health Systems:** Experienced revenue growth exceeding 60% driven by market growth and customer requirements during the pandemic. Focus is on multi-modality deals and government tenders. Product launches included MR 5300 and Spectral CT 7500. * **Personal Health:** Achieved 16.3% growth (excluding domestic appliances business dis-entanglement). Launched new products like Beard Trimmer Power adapt, Sonicare electric toothbrushes, and locally manufactured Value-segment Hair Dryer. Utilized digital mediums and celebrity endorsements to enhance brand relevance. * **Innovation Campus (PIC-B):** This Bengaluru-based center is a key software research and development hub, involved in developing innovative healthcare solutions, experience-centric products and service innovations. It is shifting towards being a Digital Solutions partner. It contributes significantly to Philips' global healthcare platforms and engages with international markets, focusing on the solutions and ‘value-based care’ journey. Innovations include Health-suite Platform (HSP) enhancements, MR SmartSpeed for MRI, the Dhwani ultrasound product, and hospital patient monitoring software. **Corporate Social Responsibility (CSR):** * CSR initiatives focus on healthcare and related issues, aiming to improve maternal and child health, nutrition, accessibility of healthcare, and reduce childhood pneumonia. Key initiatives include community-based health awareness, mobile medical vans, lactation management centers, and disaster relief. The company works with NGOs like Smile Foundation, Oxfam India, and Piramal Swasthya. * The CSR policy is available on the company website. The total amount spent on CSR in the financial year 2021-22 was ₹32.1 Million. **Corporate Governance & Statutory Information:** * **Board of Directors:** The report lists the names and designations of the Board of Directors, including S.M. Datta (Chairman), Daniel Mazon (Vice-Chairman and Managing Director), Pooja Bedi (Whole-Time Director and Company Secretary), and Sudeep Agrawal (Whole-Time Director and Chief Financial Officer). * **AGM Details:** The 92nd Annual General Meeting is scheduled for September 23, 2022, via Video Conference (VC) / Other Audio Visual Means (OAVM). Instructions for e-voting are provided. * **Directors’ Report:** Covers financial performance, sectoral sales, finance and accounts, dividend recommendations, and transfer to reserves. * **Auditors:** S.R. Batliboi & Co. LLP are the statutory auditors. The Independent Auditor's Report provides an opinion on the financial statements and addresses compliance with legal and regulatory requirements. * **Committees:** The Board has several committees, including the Audit Committee, Corporate Social Responsibility Committee, and Stakeholders' Relationship Committee, Nomination and Remuneration Committee. * **Internal Control:** The company maintains adequate internal financial controls with reference to financial statements. **Other Key Highlights:** * The company has a diverse and inclusive workforce. The report details initiatives towards diversity, equity, and inclusion. * Key managerial personnel changes: Mr. Rajiv Mathur resigned as Company Secretary and Ms. Pooja Bedi was appointed in his place. * The report includes annexures providing additional information on CSR activities, conservation of energy, technology absorption, foreign exchange outgo, and related party transactions. * The Secretarial Audit Report from CS Ashok Tyagi confirms compliance with applicable statutory provisions. * A Composite Scheme of Arrangement for Demerger of the Domestic Appliance business was approved by the National Company Law Tribunal, leading to the transfer of assets and liabilities to Philips Domestic Appliances India Limited. The Annual Report gives a comprehensive view of Philips India Limited’s performance, strategic initiatives, and compliance measures during the financial year 2021-22, demonstrating its commitment to sustainable growth and stakeholder value.

Philips India Limited Unlisted Shares

The Philips India Limited Annual Report for 2020-21 details the company’s financial performance, strategic decisions, and corporate governance matters. The report emphasizes making care accessible and affordable. **Financial Performance:** * **Sales:** Showed steady growth from ₹36,723 million in 2016-17 to ₹48,070 million in 2020-21. * **Profit Before Tax:** Increased from ₹3,252 million in 2016-17, peaking in 2017-18 at ₹2,667 million, then showing modest variations to ₹2,531 million in 2020-21. * **Net Worth:** Displayed consistent growth from ₹20,025 million in March 2017 to ₹23,950 million in March 2021. * **Current Assets:** Increased steadily from ₹12,105 million in March 2017 to ₹22,851 million in March 2021. * **Activities Contribution to Sales (Apr 2020 - Mar 2021):** Health Systems contributed 40.5%, Innovation Services 30.7%, and Personal Health 28%. Others accounted for 0.8%. * The Directors recommend a dividend payment of ₹3 per share for the financial year ended March 31, 2021, absorbing ₹173 million. **Corporate Governance & Operational Matters:** * **Board of Directors:** Includes S.M. Datta (Chairman), Daniel Mazon (Vice Chairman and Managing Director), Pooja Bedi (Whole-Time Director and Company Secretary), Sudeep Agrawal (Whole-Time Director and CFO), and Geetu Gidwani Verma (Non-Executive Independent Director). * **Annual General Meeting (AGM):** The 91st AGM will be held on Friday, September 24, 2021, via video conferencing. Members can vote electronically. Proxy appointments are not available for this AGM. * **Re-appointments/Appointments:** Sudeep Agrawal is retiring by rotation and offers himself for reappointment. Re-appointment of S.R. Batliboi & Co. LLP as Statutory Auditors is proposed. Ms. Geetu Gidwani Verma is proposed for reappointment as a Non-Executive Independent Director. Ms. Pooja Bedi's appointment as a Director and Whole-Time Director is up for shareholder approval. * **Remuneration Revisions:** Revisions in remuneration for Mr. Daniel Mazon and Mr. Sudeep Agrawal are proposed, subject to shareholder approval. * **Cost Auditors:** Remuneration for cost auditors M/s. R. Nanabhoy & Company is up for approval. **COVID-19 Pandemic Response:** * The company established task forces, provided support to customers, implemented stringent safety measures for field service engineers, and offered updated clinical guidance. * Employee health and wellbeing were prioritized, with home office setup reimbursement, flexible work guidelines, broadband reimbursement, and COVID-19 homecare/hospitalization expense coverage. **Business Performance & Strategic Initiatives:** * Health Systems business showed strong performance driven by Image Guided Therapy and Connected Care. The Health Systems Equipment Market Share increased by 1.9% (Quarter one of 2020-21). * Personal Health business experienced transformation, delivering 16% growth despite challenges. * Philips Innovation Campus, Bengaluru (PIC-B), remains a key software research and development organization, focusing on AI, machine learning, and cloud-based solutions. It is shifting to become an E2E Digital Solutions partner. * The Domestic Appliances (DA) business is being separated, with a proposed plan to transfer the business to Philips Domestic Appliances India Limited (approved by the Board and shareholders). It will stand transferred to and vested with Philips Domestic Appliances India Limited with effect from the appointed date i.e. July 1, 2021. **Corporate Social Responsibility (CSR):** * CSR focus is on healthcare and related development issues, particularly maternal & child health and mental health. * The company worked with various NGO partners. * ₹36.59 million was spent on CSR projects, with ₹19.40 million transferred to the Unspent CSR Account. **Financial Disclosures & Compliance:** * Provides extensive notes on standalone and consolidated financial statements, including details on property, plant, and equipment; investments; financial instruments; equity; and liabilities. * Includes details on compliance with accounting standards, director responsibility, and auditor reports. * Reports on a fraud involving employees and vendors, and the actions taken to investigate and recover losses. The Hon'ble Court has rejected the anticipatory bail applications of all the accused persons. * States that your Directors have approved the appointment and remuneration of a firm of cost accountants to conduct a Cost Audit for the year ending March 31, 2022. **Other Key Points:** * Internal control systems and their adequacy are continuously monitored. * The company is focused on developing its workforce, shaping an inclusive environment, and empowering its people. * The Company has a diverse team in Talent Acquisition with capabilities like Talent Intelligence, Talent Research and Recruitment Marketing which helps it to have a robust hiring and On-boarding process and ensures that it hires great talent who fit well in the organization. In conclusion, Philips India Limited demonstrated resilience and growth in 2020-21, balancing business objectives with social responsibility and adapting to the challenges presented by the pandemic.