Annual Report: 2021
Signify Innovations India Limited Annual Report 2020-21 Summary:
Signify's purpose is to unlock the extraordinary potential of light for brighter lives and a better world. The company states that it is the world leader in lighting, offering high-quality, energy-efficient products, systems, and services, turning light sources into data collection points to connect devices, places, and people.
Chairman's Message:
The Chairman, Mahesh Iyer, acknowledges the challenges of the past year due to the COVID-19 pandemic. Signify responded by protecting employees and associates with safe working environments, family safety tips, and efficient digital ways of working. Despite a decline in overall demand, the company improved its profitability through price management, cost measures, working capital management, and curtailment of capital expenditures. Signify achieved carbon neutrality across its global operations by September 2020, ahead of schedule, using 100% renewable electricity and sending zero waste to landfills. The 'Brighter Lives Better World 2025' program was introduced to reinforce sustainability efforts. The company strengthened its market leadership in connected, LED, and conventional lighting, while also acquiring Cooper Lighting globally. A range of UV-C products was launched for disinfection, addressing the need for air, surface, and object disinfection. The Philips TwinGlow LED batten was launched. While professional lighting sales were negatively impacted, Signify won prestigious projects such as the Kusum Sarovar Façade lighting project and the Arch Bridge in Bhopal. Signify became the first lighting company to introduce 3D printed luminaires in India, manufactured in Vadodara using 100% recyclable polycarbonate material. The Corporate Social Responsibility (CSR) programs positively impacted 275,000 lives by providing access to sustainable light to underserved communities, illuminating schools, villages, and playgrounds through solar-based lighting, and skill-based training to youth. Over 1,000 UV-C disinfection chambers were installed in hospitals, police stations, and old-age homes to protect frontline workers.
Financial Highlights:
The report highlights the financial performance of Signify Innovations India Limited, with a total income of ₹2,516 Cr and a total profit before tax of ₹343 Cr. The earning per share is ₹46.52.
Board of Directors:
The annual report lists the Board of Directors including Mahesh Iyer (Chairman), Sumit Joshi (Vice Chairman, Managing Director and CEO), Vinayak Deshpande (Independent and Non-executive Director), Sangeeta Pendurkar (Independent and Non-executive Director), and Vikas Malhotra (Whole-time Director). Mr. Sukanto Aich, Whole-time Director, resigned from the Board w.e.f. 21st July, 2021, and Mr. Malhotra was appointed on the Board w.e.f. 23rd July, 2021.
Initiatives and Projects in 2020-21:
Signify achieved carbon neutrality, using 100% renewable electricity. The company illuminated the Kusum Sarovar complex and the Arch Bridge in Bhopal with Color Kinetics LED systems. A wide range of UV-C disinfection products and systems were launched. Signify became the first lighting company in India to introduce 3D printed luminaires. Philips TwinGlow LED batten with dual light modes was launched. The company globally acquired Cooper Lighting. The Arun Jaitley Cricket Stadium was illuminated with Interact Sports connected LED lighting system.
CSR Initiatives:
The company’s CSR programs focused on providing access to clean and renewable solar lighting to underprivileged communities and enhancing rural youth employability through skill development programs. This included skill development training to enhance the employability of underprivileged youth with training programs, rural development projects of lighting up villages with solar street lighting, promoting quality education in rural schools through infrastructural upgrades using solar-based energy-efficient lighting solutions and promotion of sports through lighting infrastructural upgrade in playgrounds. They enhanced the personal safety of COVID frontline warriors by installing UV-C disinfection chambers in hospitals, police stations, and old-age homes.
Notice of Annual General Meeting:
The 6th Annual General Meeting will be held on September 17, 2021, via video conferencing. Ordinary business includes adopting the financial statements, declaring a dividend of ₹62.50 per equity share, and re-appointing Mr. Mahesh Srinivasan Iyer as a director. Special business includes re-appointment of Mr. Vinayak Kashinath Deshpande as an Independent & Non-Executive Director, regularization of Additional Director, Ms. Sangeeta Pendurkar as an Independent & Non-Executive Director and Regularization of Mr. Vikas Malhotra as a Director in the capacity of Whole-time Director.
The notice also details the revision of remuneration for several key personnel and approval of remuneration for cost auditors. Detailed procedures for remote e-voting and participation in the AGM are provided. It mentions the closure of Share Transfer Books and Register of Members and provides for instructions regarding dividend payments.
Directors' Report:
The Directors' Report provides details of the company's financial performance for the year ended 31st March, 2021. Revenue from operations was ₹25,025 million, reflecting a de-growth due to the COVID-19 pandemic. A dividend payment of ₹62.50 per share is recommended. The report highlights that the LED transformation continued, and UV-C disinfection solutions were introduced. The company became the first to introduce 3D printed luminaires in India.
The report also includes information on the Board of Directors, details regarding Board Evaluation and Committees of the Board including Audit Committee, Corporate Social Responsibility Committee, Nomination and Remuneration Committee and the banking and other operations committee.
Further details related to remuneration, material changes, directors responsibility statement, statutory auditors, cost auditors, secretarial standards, prevention of sexual harrasment, are all stated in the director's report.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.
You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.
The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.
Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.
To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.
Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.
The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.
Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.
It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
