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RATING

RECOMMENDATION

Strong Buy

  • ROFR Required

  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Strong Buy

Business Type

Dominant Leader

  • Investment Checklist

Management

Accounting Practice

Profitability

Solvency

Growth

Valuation

Snapshot
Key Ratio
Peers
Financials
Ownership
News
Events

RATING

RECOMMENDATION

Strong Buy

Business Type

Dominant Leader

Discover and get a complete analysis on Signify Share Price (Previously Philips Lighting) India Limited & Information Like- Funding, Threats, Opportunities, Awards & Achievements, Strengths & Signify Innovations Net Profit Growth, IPO, etc. At Planify you will get all the latest information after reading the research report

ISIN

INE045U01015

Face Value

₹10.00

Total Share

5,75,17,242

Total Income

₹2,515.70 Cr

Profit After Tax

₹267.60 Cr

EPS

₹46.52

P/E

24.29

P/B

10.65

Market Capitalisation

₹6,499.45 Cr

Enterprise Value

₹5,733.55 Cr

Book Value

₹106.12

Dividend Yield

5.53 %

Earnings Yield

4.12 %

Sector

Consumer Discretionary

Sub-sector

Electrical Components & Equipments

Category

Small Cap

Cashflow - Operations

₹576.20 Cr

Cashflow - Financing

-₹77.00 Cr

Signify Innovations Growth

Compounded Sales Growth

  • -13.66%

    1 Year

  • -10.69%

    3 Year

  • -6.87%

    4 Year

Pro Only

Compounded Profit Growth

  • 47.28%

    1 Year

  • 16.40%

    2 Year

  • 28.48%

    4 Year

Pro Only

Return On Equity

  • 43.84%

    2021

  • 38.65%

    2019

  • 41.87%

    2018

Pro Only

About Signify Innovations

  • Signify Innovations (Formerly known as "Philips Lighting"), is focused on manufacturing electric lights and light fixtures for consumers, professionals and Internet of Things.
  • Signify Innovations is a Dutch multinational company formed in 2016 as a result of the spin off of the lighting division Philips.
  • Signify, is leading the ongoing development of connected lighting systems and services. By leveraging the Internet of Things, they are transforming buildings, urban places and homes. To increase energy efficiency, and manage working environments in a more environmentally friendly way.

  • Signify Innovations IPO Details

The company is not planning IPO

  • Signify Innovations Merger & Acquisition

Merger

  •  On 3 May 2016 Philips demerged to form Signify Innovations India Limited, the main reason for the demerger was that the medical technology business accounted for more than 40% of total sales of the company, while its lighting solutions arm remained a major money-spinner, selling products in 180 countries. It continues to use Philips brand name for its products.

Acquisition

  • On 2 March 2020, Signify acquired Cooper Lighting for INR 97 Billion to further consolidate their market leadership and have also integrated their operations in India.
  • On 1 July 2021, Signify Acquired Telensa to expand Signify's capabilities for smart cities and supports Signify’s strategic priority to grow in professional systems and services.
  • On 1 oct 2019, Signify Acquired 51% stake in KLite to strengthen Signify’s position in the supply chain of LED lamps and luminaires. The combined expertise, innovation power and distribution scale enables Signify to deliver cost-efficient innovations to customers faster, including connected lighting offerings.
  • On 21 May 2019, Signify Acquired ONCE iLox  to enable Signify to capture attractive growth in agricultural lighting.
  • On 5 June 2019, Signify Acquired Wiz Connected to extends Signify’s leadership in connected lighting by stepping into the Wi-Fi-based smart lighting market.
  • On 1 August 2018,Signify Acquired Lite Magic tso that it can provide a complementary portfolio of luminaires and control systems for the mid-segment of the city façade lighting market and enables Signify to better capitalize on the large and fast growing urban lighting market.

  • Signify Innovations Subsidiaries

The company does not have any subsidiary

Signify Innovations Business Model

The Signify group is engaged in the business of LED lightings industry under the brand names of Philips, Interact, Philips Hue, Color Kinetics and Wiz Connected. Signisy's portfolio consists of electric lights, the Internet of Things and connected lighting systems aimed at consumers and professionals.

  • Signify Innovations Revenue Segmentation

  • Lighting and Switches
  • Revenue from rendering of services

  • Signify Innovations Product & Services

The following are the products of Signify Innovations India Limited:
  • Led Lightings
  • Decorative Lights
  • Smart Lightings
  • Installation Services
  • Outdoor Luminaries
  • Indoor Luminaries
  • Switches & accessories

  • Signify Innovations Assets

Assets of the company as on 31st, March 2021.
ParticularsAmount in Rs. Cr
Land & Buildings60.7
Plant and Equipments424.9
Office Equipments

6.9

Furnitures and Fixtures15.5
Leasehold Improvements16.4
Computers20.0


  • Signify Innovations Industry Overview

Industry Statistics

  • The Indian LED market in 2021 stands at US$ 6972.1 Millions and is expected to reach US$ 7710.7 Million by 2022 at a growth rate of 10.6%.
  • India represents one of the biggest lighting markets, it offers a lucrative option for LED manufacturers to set up their facilities in the region. Skilled labour, ease of doing business and demographic advantages provides a sustainable environment for the LED industry.
  • The reduction in the prices of LED bulbs has boosted its deployment in the residential sector. Therefore, the residential sector grabbed a significant market share in the India LED market after 2019. In addition, the increasing production of LED televisions in the country is projected to positively impact the demand for LEDs in the country
  • The prices of LED bulbs has experienced a decline of 20%-25% due to the rise in competition among big players like Orsam, Crompton, Havells, Bajaj Electricals, Syska, etc Therefore, the lowering of price is expected to boost the attraction of customers towards energy efficient LED products.
  • Currently, the demand for LED lighting systems is primarily concentrated in the North and South regions due to growing urbanization rates and an increasing number of government initiatives that encourage the use of LED lights.

Future Prospects

  • The rising demand for LED bulbs, surging capacity for manufacturing, and development of efficiency standards are anticipated to strongly contribute to the growth of India LED market in the forthcoming period.
  • Future endeavor or goal of this lighting innovation company is to serve the needs of 3 billion people by the year 2025. They aim at producing innovative products while also ensuring to keep the sustainable factor existent, as they suppose this would add on to make the world healthier.
  • Looking forward, IMARC Group expects the market to grow at a CAGR of 28.3% during 2021-2026.

Government Initiatives

  • Government is now allowing 100% foreign direct investment (FDI) under the automatic route in the electronics systems design & manufacturing sector, favor the growth of the LED light engine industry.
  • Under the UJALA (Unnat Jyoti by Affordable LEDs and Appliance for All) Scheme, the government distributed 361,525,167 LEDs till 23rd Jan, 2020. The scheme aims to offer energy efficient lighting and enhance awareness on using energy efficient products which reduce electricity consumption. Further, the scheme provides free of cost warranty for all technical faults for three years. 
  • The implementing agency for SLNP is Energy Efficiency Services Limited (EESL), which guarantees a minimum saving energy of typically 50% and provides free replacements and maintenance of lights at no additional cost under a seven-year contract.

Signify Innovations Awards & Achievements

  • Signify Innovations India Limited has been awarded the coveted Golden Peacock Award for Corporate Social Responsibility (GPACSR) for the year 2020 by the Institute of Directors, National Human Rights Commission of India and National Commission for Constitution of India Reforms.
  • Became the first lighting company to introduce 3D printed luminaires in India, being manufactured at their production facility in Vadodara. This highly flexible and more sustainable form of manufacturing, using 100% recyclable polycarbonate material, enables us to produce luminaires that have bespoke designs tailored to customers’ exact needs. These can also be recycled at the end of their life, thereby supporting a circular economy.

Signify Innovations Strengths

  • The liquidity ratios of the company have increased in FY 2021, signifying a stronger liquidity position as compared to last financial year. This is primarily because the company has not made any major fund-based borrowings and has managed working capital requirements from internal cash generation.
  • Company's impactful actions such as solid price management, stringent cost measures, rigorous working capital management and curtailment of uncommitted and non-essential capital expenditures have led to the increase in efficiency ratios in FY 2021.

Signify Innovations Shortcomings

  • Company's Interest Coverage Ratio is decreasing since FY 19 at a rate of -44.4% CAGR and came down to 40.7 in FY 21. Company needs to focus on this fall and take some steps to increase its earnings.
  • Company's Asset Turnover Ratio is decreasing at a rate of -16.5% CAGR in FY 20 and FY 21. This decrease was majorly because of decrease in revenue due to decrease in spending by government and less infrastructural spending. Company needs to take some steps in future to tackle this situation and maintain its overall efficiency.

Signify Innovations Opportunities

  • A rapidly growing automotive industry also provides productive opportunities for the use of LEDs in head lamps, rear lamps, turn signal and brake lights.
  • Other important factors such as increasing infrastructural investments, rapid growth of street lighting systems, decline in average prices of LEDs and various government and upcoming smart building projects are expected to drive the demand of LED lights in India.

Signify Innovations Threats

  • Since the industry faces intense competition from Chinese manufacturers as they are flooding the market with low quality and cheap products, prices of LED are very low, which makes Local manufacturers receive low margins.
  • GST on LED lights and raw materials used for manufacturing ranges from 18 to 28 %
Signify Innovations Rating

  • RECOMMENDATION

    Strong Buy

  • Signify Innovations Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

last Updated

07/03/2022

Registered Date

22/04/2015

Planify Ticker

signify

Reg Office: PS ARCADIA CENTRAL, 3A, 3rd floor, 4A, Abanindranath Thakur Sarani (Camac Street), Kolkata Kolkata WB 700017 IN

Visit Website

Frequently Ask Questions

The company is not plannning for IPO

The face value for the company is 10

Yes, we can expect good profit from the company in future

Signify Holdings BV is the major shareholder of the company

Mr. Mahesh Iyer is the Chairman of the company

Company's impactful actions such as solid price management, stringent cost measures, rigorous working capital management and curtailment of uncommitted and non-essential capital expenditures have led to the increase in efficiency ratios in FY 2021.

The minimum holding period of the company has been listed is 6 months.

We recommend strong buy rating in this company

The company's total profit is 267.6 crores

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This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

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  • Signify Innovations Share Price

  • ₹1,130.00

  • PLACE ORDER
  • ROFR Required

Available in Depository

  • NSDL

  • CDSL

Available for Investment

  • Primary

  • Secondary

  • Investment Checklist

Management

Accounting Practice

Profitability

Solvency

Growth

Valuation