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Philips India Limited Unlisted Shares
965
Company Overview
Philips India Limited Unlisted Shares
(i) Philips India Limited is a subsidiary of Royal Philips of the Netherlands (KNPV), a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment, and home care. KNPV Holds 96.13% shares in Philips India Limited and remaining shares are held by minority shareholders.
(ii) Philips India is a leading hi-tech company doing business in the field of Healthcare system, and Personal Healthcare. The company also has a Healthcare innovation center at Pune and Innovation campus at Bangaluru.
(a) Healthcare System: It imports machines from Philips globally for Diagnostic Imaging( MRIs, CT Scan, Digital X-Ray), Ultra Sound, Image-Guided Therapy, Patient Care, and monitoring Systems.
(b) Personal Healthcare: It includes Domestic appliances, Personal Care, Health, and Wellness products.
(c) Healthcare Innovation Center: It is the R&D center of Philips India which also assembles machines as discussed above under the Healthcare System.
(d) Philips Innovation Campus (PIC): Based at Bangalore, initially started as a software center in 1996, is now recognized as one of the key innovation hubs for Philips globally. The focus of the innovation hub is to help accelerate Philips's leadership as a Health Technology company through meaningful innovations for local and for global markets. Enabled by highly qualified, passionate and motivated professionals over the last 23 years, this center has evolved rapidly to become a strategic innovation hub for Philips. PIC builds software products and solutions across the health continuum starting with healthy living, disease prevention to diagnosis, treatment, and home-based care. The software and product innovations enable global advancements in common platforms for various imaging products like MRI, CT, Diagnostic X-Ray, and Ultrasound. PIC has extensive expertise in cutting-edge technologies such as AI, Cloud, Data Analytics, IoT, etc.
Subsidiaries of Philips India:
As of March 31, 2019, the Company had two wholly-owned subsidiaries, Preethi Kitchen Appliances Private Limited (“Preethi”) and Philips Home Care Services India Private Limited (“Philips Home Care”) and a Joint Venture Company, Healthmap Diagnostics Private Limited (“Healthmap”), where the Company held 35% shareholding.
However, in the meeting of the Board of Directors of the Company held on May 1, 2019, the approval was accorded to dispose of the shareholding of the Company in Healthmap, by way of sale to Manipal Health Enterprises Pvt. Ltd.(Manipal), at the present fair market value at that time i.e. 23.65 per share. The Company held 1.48 Crore shares in Healthmap and based on the said price, the aggregate share sale consideration amounted to 35.00 Crores. Preethi Kitchen Appliances is the leading manufacturer of kitchen appliances in the south India market. It sells mixer grinder, glass top, stainless-steel, gas stoves, coffee maker, induction cooker, rice cookers, Kettles, electric iron box, electric pressure cooker, and vessels for Induction cooker. Philips Home Care had launched its Critical care segment in 2017, wherein the step-down version of an ICU is set up in the patient’s home with 24x7 presence of a nurse, along with wide range of equipment and services, as required, like BIPAP, Multipara Monitor/pulse oximeter, DVT pump, infusion pump, hospital bed, physiotherapist’s visit, and respiratory therapist’s visit.
Financial Snapshots: 
Philips India Annual Report 2021 Updates Health System
a) During the year 2020-21, Health Systems business of Philips India delivered another year of strong performance irrespective of Market de-growth, driven by growth in Image Guided Therapy (IGT) (47.6% Market Share) and Connected Care (CC) Business.
b) In Image Guided Therapy(IGT),Philips Market share improved by 11.2%.
c) Magnetic Resonance (MR), Philips Market share increased by 1.5% fuelled by PMRS.
d) Ultrasound business of Philips India has improved market share from 17% to 19.7% driven by strong performance of the India.
Personal Health
b) In Image Guided Therapy(IGT),Philips Market share improved by 11.2%.
c) Magnetic Resonance (MR), Philips Market share increased by 1.5% fuelled by PMRS.
d) Ultrasound business of Philips India has improved market share from 17% to 19.7% driven by strong performance of the India.
Personal Health
a) Personal Health business continued its transformation journey by adopting to the external dynamic headwinds and delivered 16% growth over the previous financial year.
b) Under Domestic Appliances business, Philips India has launched New Urban living range of Air Purifiers with an idea to create a safe in home environment and also a new range of Oven Toast and Grill (OTG) products to support the In-home Cooking trend.
Demerger of Domestic business
Domestic Appliance Business will stand transferred to and vested with Philips Domestic Appliances India Limited with effect from the appointed date i.e. July 1, 2021. So existing shareholders of the Philips India will get shares of Domestic Appliances. And, accordingly the unlisted shares value of Philips India will reduce. Domestic Appliances business including the Company’s subsidiary “Preethi Kitchen Appliances Private Limited” will be carved out from the Business segment “Personal Health” which primarily involves sale of kitchen appliances (juicers, blenders, Air fryer, food processors), home care (vacuum cleaners, air purifiers), garment care (irons, steam generators) and coffee makers (appliances and accessories).
Financial Performance of Domestic Business
Philips Innovation Campus, Bengaluru (PIC-B) established in 1996 as a premier software research and development organisation of Royal Philips, today hosts 4500+ top-notch professionals working on developing products and innovative solutions across the healthcare continuum to improve people’s health. It is one of the four major Philips innovation hubs globally.
Subsidiaries of Philips India Unlisted Shares
Business Analysis For Philips India Unlisted Shares in FY18-19:
(i) During the year 2018-19, the Health Systems business suffered a revenue de-growth of 3.4% year-on-year, primarily due to the credit squeeze in the financial market attributable to the crisis in the non-banking financial companies (NBFC) sector. The overall Health Systems market de-grew by 3.6% in the fourth quarter of 2018 Moving Annual Turnover (MAT) level, led by the de-growth in Precision diagnostics and Image-Guided Therapy (IGT) equipment by 3.5% and 21.7%, respectively.
(ii) The Personal Health business registered sales growth of 14.6%, over the previous financial year. The growth was driven in all the categories especially with strong growth in Personal Care, Home Care, erstwhile Air, and Floor Care and Beauty Products. The growth of Air Purifiers was driven by public awareness around air quality, especially in the northern part of the country.
(iii) In FY 2018-19, Preethi, a subsidiary, registered significant progress and delivered a 19.5% sales growth over last year with improved profitability. During the year, the focus of the Preethi business was on the cooking appliances segment. Gas Stove category has achieved a sizable share in FY 2018-19 and contributed 13% of the revenue.
(iv) During the year, Philips Home Care, a subsidiary, the business segment didn’t expand to the expected levels due to various challenges in the marketplace.
(v) For brand improving, the Company has enhanced presence across various social media platforms to target youth of the Country. Further, the Company has also engaged famous cricketers, Mr. Virat Kohli and Mr. Rahul Dravid in order to attract the young consumers of the country.
Business Analysis of FY19-20
a) During the year 2019-20, the Health Systems business of the Company delivered another year of strong performance was driven by growth in Image-Guided Therapy (IGT 19.6%) and Patient Care & Monitoring solutions (10%) despite macroeconomic challenges including credit squeeze in the financial market attributable to the crisis in the non-banking financial companies (NBFC) sector.
b) In Image Guided Therapy (IGT), Philips Market share improved by 5%. The market is still reeling under the stent price capping which is causing the value and performance segments to grow. In Magnetic Resonance (MR), Philips Market share declined by 8% whereas in Computed Tomography (CT), and the company witnessed a dip of 3% in market share. Ultrasound business of the Company improved market share from 17.3% to 18%.
c) Financial year 2019-20 has been a challenging year with unfavorable macro-economic conditions, slowing market growths and then Covid-19 outbreak followed by lockdown as containment measures. With these ongoing headwinds, Personal Health business of the Company was still able to deliver sales growth of 5.8%, over the previous financial year. There has been and increase in cost trends of the commodities and adverse currency fluctuations due to global factors.
Business Performance of Philips India Unlisted Share in FY21-22
1. Philips India Health Systems business comprises of MRI Scanners, CT Scanner , Ultrasound etc had another year of exceptional success, with overall revenue growth of more than 60 percent, driven by favourable market growth and client demands during the pandemic.
2.As a result of the pandemic's effect on healthcare requirements, the addressable market of Health System business has expanded by 40 percent in the high double digits.
3. Philips India has added the entire Respironics Range under Sleep and Respiratory Care (S&RC) to its portfolio.
4. Despite a turbulent and dynamic economic environment, the Personal Health business of Philips India has produced 16.3% increase over the prior fiscal year (excluding the impact of the home appliances business which was shifted in Philips Domestic and it was de-merged last year).
5. In personal health business, Philips India has aunched new range of products such as Beard Trimmer Power adapt, Sonicare electric toothbrushes and locally manufactured Value-segment Hair Dryer. 6. This year company has also given a dividend of Rs.3 per share.
b) Under Domestic Appliances business, Philips India has launched New Urban living range of Air Purifiers with an idea to create a safe in home environment and also a new range of Oven Toast and Grill (OTG) products to support the In-home Cooking trend.
Demerger of Domestic business
Domestic Appliance Business will stand transferred to and vested with Philips Domestic Appliances India Limited with effect from the appointed date i.e. July 1, 2021. So existing shareholders of the Philips India will get shares of Domestic Appliances. And, accordingly the unlisted shares value of Philips India will reduce. Domestic Appliances business including the Company’s subsidiary “Preethi Kitchen Appliances Private Limited” will be carved out from the Business segment “Personal Health” which primarily involves sale of kitchen appliances (juicers, blenders, Air fryer, food processors), home care (vacuum cleaners, air purifiers), garment care (irons, steam generators) and coffee makers (appliances and accessories).
Financial Performance of Domestic Business
| Particulars (in Cr) | FY20-21 |
| Revenue from operations | 1475 |
| Operating expenses | 1373 |
| PBT | 101 |
| PAT | 80 |
In accordance with the Scheme, the assets and liabilities pertaining to Domestic Appliance business will stand transferred to and vested with Philips Domestic Appliances India Limited with effect from the appointed date i.e. 01 July 2021 and shareholders of the Company will be allotted 1 fully paid equity share of Philips Domestic Appliances India Limited for each fully paid equity share held by them in the Company on or before the Effective date and the transfer of the De-merged Undertaking shall be on a going concern basis.
Innovation Campus
Innovation Campus
Philips Innovation Campus, Bengaluru (PIC-B) established in 1996 as a premier software research and development organisation of Royal Philips, today hosts 4500+ top-notch professionals working on developing products and innovative solutions across the healthcare continuum to improve people’s health. It is one of the four major Philips innovation hubs globally.
Subsidiaries of Philips India Unlisted Shares
During the financial year 2020-21, Philips India had three wholly owned subsidiaries, Preethi Kitchen Appliances Private Limited (“Preethi”), Philips Home Care Services India Private Limited (“Philips Home Care”) and Philips Domestic Appliances India Limited (“Philips Domestic Appliances”). Now as said above, the Domestic Appliance India business was de-merged from Philips India w.e.f o1.07.2021. For each share of Philips India, a share of Philips domestic was given. For example, if you were holding 100 shares of Philips India, then after demerger you must have got 100 shares of Philips Domestic as well.
Financial Performance of Philips India Unlisted Shares
Financial Performance of Philips India Unlisted Shares
| Particulars (in Cr) | FY21-22 | FY20-21 |
| Revenue | 5546 | 4833 |
| EBITDA | 400 | 414 |
| OPM | 7.2% | 8.4% |
| Profit from continuous operation | 256 | 176 |
| Profit from discontinuous operation | 0 | 0 |
| EPS | 46 | 30 |
Current Philips India Unlisted Share Price
Currently, Philips India Unlisted Share Price is ₹1200 and P/E based on EPS of 46 is 26x, which is fairly valued. Note: Check the Latest Philips India Unlisted Share Price at UnlisteZone Android or iOS Mobile App.Business Analysis For Philips India Unlisted Shares in FY18-19:
(i) During the year 2018-19, the Health Systems business suffered a revenue de-growth of 3.4% year-on-year, primarily due to the credit squeeze in the financial market attributable to the crisis in the non-banking financial companies (NBFC) sector. The overall Health Systems market de-grew by 3.6% in the fourth quarter of 2018 Moving Annual Turnover (MAT) level, led by the de-growth in Precision diagnostics and Image-Guided Therapy (IGT) equipment by 3.5% and 21.7%, respectively.
(ii) The Personal Health business registered sales growth of 14.6%, over the previous financial year. The growth was driven in all the categories especially with strong growth in Personal Care, Home Care, erstwhile Air, and Floor Care and Beauty Products. The growth of Air Purifiers was driven by public awareness around air quality, especially in the northern part of the country.
(iii) In FY 2018-19, Preethi, a subsidiary, registered significant progress and delivered a 19.5% sales growth over last year with improved profitability. During the year, the focus of the Preethi business was on the cooking appliances segment. Gas Stove category has achieved a sizable share in FY 2018-19 and contributed 13% of the revenue.
(iv) During the year, Philips Home Care, a subsidiary, the business segment didn’t expand to the expected levels due to various challenges in the marketplace.
(v) For brand improving, the Company has enhanced presence across various social media platforms to target youth of the Country. Further, the Company has also engaged famous cricketers, Mr. Virat Kohli and Mr. Rahul Dravid in order to attract the young consumers of the country.
Business Analysis of FY19-20
a) During the year 2019-20, the Health Systems business of the Company delivered another year of strong performance was driven by growth in Image-Guided Therapy (IGT 19.6%) and Patient Care & Monitoring solutions (10%) despite macroeconomic challenges including credit squeeze in the financial market attributable to the crisis in the non-banking financial companies (NBFC) sector.
b) In Image Guided Therapy (IGT), Philips Market share improved by 5%. The market is still reeling under the stent price capping which is causing the value and performance segments to grow. In Magnetic Resonance (MR), Philips Market share declined by 8% whereas in Computed Tomography (CT), and the company witnessed a dip of 3% in market share. Ultrasound business of the Company improved market share from 17.3% to 18%.
c) Financial year 2019-20 has been a challenging year with unfavorable macro-economic conditions, slowing market growths and then Covid-19 outbreak followed by lockdown as containment measures. With these ongoing headwinds, Personal Health business of the Company was still able to deliver sales growth of 5.8%, over the previous financial year. There has been and increase in cost trends of the commodities and adverse currency fluctuations due to global factors.
Business Performance of Philips India Unlisted Share in FY21-22
1. Philips India Health Systems business comprises of MRI Scanners, CT Scanner , Ultrasound etc had another year of exceptional success, with overall revenue growth of more than 60 percent, driven by favourable market growth and client demands during the pandemic.
2.As a result of the pandemic's effect on healthcare requirements, the addressable market of Health System business has expanded by 40 percent in the high double digits.
3. Philips India has added the entire Respironics Range under Sleep and Respiratory Care (S&RC) to its portfolio.
4. Despite a turbulent and dynamic economic environment, the Personal Health business of Philips India has produced 16.3% increase over the prior fiscal year (excluding the impact of the home appliances business which was shifted in Philips Domestic and it was de-merged last year).
5. In personal health business, Philips India has aunched new range of products such as Beard Trimmer Power adapt, Sonicare electric toothbrushes and locally manufactured Value-segment Hair Dryer. 6. This year company has also given a dividend of Rs.3 per share.
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| Symbol | Philips India Limited Unlisted Shares |
|---|---|
| Face Value (₹): | 10 |
| ISIN: | INE319A01016 |
| Demat Status: | NSDL & CDSL |
| Lot Size: | 25 Shares |