Annual Report: 2024
Impact with Care - Philips India Limited Annual Report 2023-24 Summary
Financial Highlights (FY 2023-24):
Notice of Annual General Meeting (AGM):
Board of Directors & Key Personnel Changes:
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):
Other Key Points:
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