Philips India Limited (PIL), as per filings, deals in diagnostic imaging equipment. The company's business segments comprise (a) Personal Health, (b) Healthcare Systems, and (c) Innovation Services. The company has manufacturing facilities in Pune, Maharashtra, and a software development center in Bangalore. It sells its products primarily in India through independent distributors and modern trade. PIL offers integrated solutions in segments such as diagnostic imaging, image-guided therapy, patient monitoring, and health informatics, as well as in consumer health and home care. The company is a part of Royal Philips of Netherlands. It also offers products in segments such as consumer care, healthcare, lighting, professional display, and dictation solutions apart from professional air quality solutions.

The business of the company is divided among 3 verticals

1. Health Systems:

During  the  year  2020-21,  Health  Systems  business  of  the Company  delivered  another  year  of  strong  performance irrespective  of  Market  degrowth, driven  by  growth  in  Image  Guided Therapy  (IGT)  (47.6%  Market  Share)  and  Connected Care  (CC)  Business. The  Health  Systems  Equipment  Market  Share  increased  by  1.9%  at  Quarter  one  of  2020-21  MAT (Moving  Annual  Turnover)  level  in  the  back  drop  of  macro-economic  challenges  including  low  liquidity  in  Health  Care segment due to decline in patient foot-fall in Hospitals and deferment of elective procedures. In  Image  Guided Therapy  (IGT), Philips  Market  share  improved  by  11.2%. 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  increased  by  1.5%  fueled  by  PMRS  (circular  economy)  and  improved  win  rate  in  government.  In  Computed Tomography  (CT), your  Company  also  showed  increase  of  0.5%  share. Ultrasound  business  of  your  Company  improved market  share  from  17%  to  19.7%  driven  by  strong  performance  of  the  India  make  Affiniti  Series  launched  in  second quarter of 2020.

2. Personal Health :

Financial  year  2020-21  was  an  extraordinary  year,  wherein  COVID  -19  outbreak  followed  by  one  of  the  biggest  and unprecedented  lockdown  in  the  world  and  its  consequent  impact  on  economic,  consumer  behaviors  created  both challenges and new opportunities. Personal  Health  business  continued  its  transformation  journey  by  adopting  to  the  external  dynamic  headwinds  and delivered  16%  growth  over  the  previous  financial  year. This  growth  was  delivered  in  a  highly  competitive  environment with low cost players and challenges as increase in cost trends of the commodities and adverse currency fluctuations. 

3. Innovation Services:

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.   The  centre  has  extensive  expertise  in  cutting-edge  technologies  and  is  working  on  solutions  based  on  artificial intelligence  and  machine  learning,  smartphone  and  tablet  enabled  data  analytics, AI-based  radiology  solutions,  remote management  of  ICUs  and  cloud-based  solutions. The  hub  develops  clinically  relevant  software  products  and  solutions across  the  health  continuum  starting  with  healthy  living,  disease  prevention  to  diagnosis,  treatment  and  homebased care. 

The Company has delivered positive net cash from operations in the financial year 2021-22. The company has not made any major borrowings in this year and has managed working capital requirements from internal cash generation. During the year, capital expenditure was Rs. 1,429 million ( Rs. 2,880 million during Apr ’20 – Mar ‘21) and were towards HIC expansion and IT equipment etc. The company continued to facilitate Healthcare sales with innovative financial solutions to support customers and business in keeping up pace with the market growth to the tune of Rs.1,940 million. The company has invested the surplus cash in fixed deposits with banks and is earning interest on the same.