Philips India Ltd. has released its results for FY24

03 September 2024

• Revenue & Profitability - In FY24, the company's revenue grew by 7%, rising from Rs. 5,734 crore in FY23 to Rs. 6,000 crore, driven by increased sales in the health systems segment and their innovation services. However, despite the revenue growth, net income saw a slight decrease of 1%, dropping from Rs. 260 crore in FY23 to Rs. 258 crore in FY24, which led to a 1% decline in the company's EPS.
• Financial Position - The company’s total asset base grew by 22%, increasing from Rs. 3,201 crore in FY23 to Rs. 3,916 crore in FY24. Similarly, the equity base expanded by 21%, rising from Rs. 1,234 crore in FY23 to Rs. 1,490 crore in FY24.
• Future prospects - The company is committed to innovation, addressing evolving market needs as evidenced by the introduction of wide-bore, helium-free, multi-nuclei, and AI-powered solutions in 1.5T and 3T MRI systems. To engage young consumers, the company continues to collaborate with cricket stars, popular cinema actors, and top influencers. For FY24, they launched several new campaigns, including the Philips Nourish Care Hair Straightener with Alia Bhatt, the Philips Multi-Groomer range featuring brand ambassador and famous cricketer Virat Kohli, as well as campaigns for Philips One Blade and Philips Avent – Share the Care.