&w=3840&q=100)
Philips eyes strong double-digit growth as India nears top-five market spot
India has the potential to come into its top five markets over the next five years, helped by the double-digit CAGR growth here, said Vidyut Kaul, Head of Personal Health, Philips Growth Region (JAPAC, ISC, META & LATAM).
The company is encouraging domestic sourcing not only for the local markets but also for its global markets, he added.
"We have committed to India being the key market, and we have been both for personal health products as well as our med tech products. We do a lot of sourcing out of India. So, that continues with the ambition. So, we continue to look at opportunities to scale back," Kaul told PTI.
In India, Philips operates in the personal health business, including the beauty and grooming segment, where it has various products like hair dryers, hair straighteners, hair brushes, beard trimmers etc. Its health business also includes oral care -- electric toothbrushes, and mother and child care products.
When asked about the growth outlook in India in the short to mid-term, Kaul said: "We are looking at a double-digit CAGR between 10 to 15 per cent".
The company expects its men's grooming, mother and child care with Avent and female grooming segments to be its growth drivers.
"But, in the next 2 to 3 years horizon, you will see us playing an active part in oral care," Kaul added.
India is currently among the top 10 markets of Philips.
"With this growth, the idea is, we have the aspiration in the next 5 years to get it into the top 5," he added.
In FY24, Philips India's standalone revenue from operations was Rs 6,000.4 crore, up 4.64 per cent year-on-year, according to financial data accessed by business intelligence platform Tofler.
Its personal health business contributed Rs 765.8 crore, while the 'Health Systems' vertical generated Rs 2,833.8 crore. Its innovation services contributed Rs 2,271.9 crore.
Philips, which is a market leader in the male grooming segment, on Tuesday launched a new line of premium electric shavers in India.
According to Kaul, the market is estimated to be around USD 400 million and growing at a healthy double-digit of 10 to 11 per cent year-on-year.
"We are the market leaders in different categories. We have between 40 to 65 per cent market share depending on one category and category," he said, adding that "we aim to bring innovation".
Philips is manufacturing its grooming products in India at Baddi, Himachal Pradesh.
"We have a manufacturing line already. We have got 13 to 14 products, which are made in India," said Kaul.
Globally, Philips is the leading brand for electric men's grooming brand and India is already in the top 10 markets for the company.
Philips on Tuesday launched premium electric shavers Philips Series 7000, i9000 and Philips i9000 Prestige Ultra, which are designed with AI-powered SkinIQ technology. Its price starts from Rs 14,999 and goes up to 34,999.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
27 minutes ago
- Time of India
Tesla Model Y bookings open in India for Rs 22,220; here's all you need to know
Tesla has finally arrived in India and has officially opened online reservations for its highly anticipated Model Y SUV in the country. Tesla fans and car enthusiasts who have been waiting for a long time can now book the Model Y. The electric luxury SUV is now available for booking across India at just Rs 22220. Let's explore its price, available variants, key features, and the steps to reserve one. Tesla's entry into India gets a boost After years of speculations and anticipations, Tesla is finally taking concrete steps to enter the Indian market. The Model Y is a sleek, all-electric compact SUV known for its impressive range, cutting-edge technology, and stellar performance. The base price of the car is Rs 59.89 lakh (ex-showroom), which is a premium choice among EV customers. Along with this, there are two variants of it in India right now: Rear Wheel Drive (RWD) Long Range RWD Why is Model Y a game-changer for India? Range and performance: The Model Y offers an impressive WLTP driving range of 500 km on a full charge, perfect for India's urban and semi-urban commuting needs. It also accelerates from 0 to 100 km per hour in as little as 5.9 seconds (in Performance variants). The Long Range RWD goes an extra mile with a range of 622 km and accelerates from 0 to 100 km/h in 5.6 seconds. As well as its top speed is 201 km/h, further making it premium-oriented. Cutting-edge technology: Tesla's renowned Autopilot system, minimalist interior design, and large touchscreen infotainment system redefine the driving experience. Sustainability: With rising environmental concerns and the government's push for electric mobility, the Model Y aligns best with India's green vision. According to Times Bull, customers can avail of this self-driving technology for an extra cost of Rs 6 lakh. New Model Y is gorgeous Tesla's priority delivery locations Currently, Tesla has announced that the deliveries will start in Phase 1 with priority cities including Mumbai, Pune, Delhi, and Gurugram. The other cities will receive deliveries in the second phase. Ways to book the Model Y in India As the online bookings are now live on Tesla's official website. Byers must complete payment in two steps: First, they need to reserve the car with a non-refundable Rs 22,220. Second, a non-refundable Rs 300,000 within seven days. Both prices include TCS (Tax Collected at Source). Note: Please note that the booking amount is non-refundable in case of cancellation. FAQs Q. Will Tesla begin right-hand drive manufacturing in India? Currently, the Model Y of Tesla cars is imported from Germany and Shanghai; there are no local manufacturing plans confirmed yet. Q. What's the deal with full self-driving (FSD) in India? FSD is offered as an optional Rs 6 lakh upgrade, but several advanced features, such as auto lane change, still await regulatory approval.
Economic Times
27 minutes ago
- Economic Times
Why stock market is falling today: Sensex falls over 650 pts, Nifty slips below 25,050; 3 reasons behind the slump
Optimism over a potential free-trade agreement with Britain failed to lift market mood. Indian benchmark indices declined sharply on Thursday, dragged down by losses in IT stocks amid weak earnings and subdued global sentiment. Optimism over a potential free-trade agreement with Britain failed to lift market mood. In early trade, the Sensex plunged over 680 points intraday, while the Nifty50 slipped below the 25,050 mark. At 1:08 pm, the BSE Sensex was down 589 points, or 0.71%, at 82,142, while the Nifty50 dropped 166 points, or 0.65%, to 25,056. The total market capitalisation of BSE-listed firms fell by Rs 2.42 lakh crore to Rs 457.93 lakh crore. The Nifty IT index fell 2%, leading sectoral losses, followed by declines in realty, FMCG, financial services, and PSU banks — down between 0.5% and 1.2%. Broader indices also weakened, with the Nifty Midcap100 and Smallcap100 down 0.5% and 0.86%, respectively. Here are three key reasons behind the fall: The Nifty IT index saw the steepest drop, down 2%, with stocks like Coforge and Persistent Systems plunging 9% and 8%, respectively. Infosys also shed over 1% after its Q1 earnings failed to impress. Coforge reported an EBIT margin of 12.7%, falling short of expectations and contracting from the previous quarter. The company posted negative free cash flow and spent $85 million on capex, including $62 million to build an AI data centre, shifting its model from asset-light to Systems, meanwhile, missed growth targets and deferred wage hikes by a quarter. Deal wins were flat at $520 million versus $517.5 million in the previous quarter, raising concerns about demand momentum. Also Read: Is the IPO market the new gold? 2025 listings outshine Nifty with 4X returns Investor sentiment was also dented by global cues after the White House announced that U.S. President Donald Trump will visit the Federal Reserve on Thursday — an unexpected development that escalates tensions with Fed Chair Jerome U.S. central bank is expected to hold rates steady in its upcoming meeting, but political overhang added to market unease. Also Read: Can Swiggy ride the sentiment wave after Eternal's blowout quarter? Hopes of an interim trade deal between India and the United States before Washington's August 1 deadline have dimmed. Talks remain stalled over tariff cuts on key agricultural and dairy products, according to two Indian government sources. In April, President Trump had threatened to impose a 26% tariff on Indian imports but paused it to allow negotiations. That pause ends on August 1, and India has yet to receive a formal tariff letter — unlike over 20 other trade delegation, led by chief negotiator Rajesh Agrawal, returned from a fifth round of talks in Washington without a breakthrough.'An interim deal before August 1 looks difficult, though virtual discussions are ongoing,' one of the sources told Reuters. A U.S. delegation is expected to visit New Delhi soon to continue negotiations.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
27 minutes ago
- Economic Times
IEX shares plunge 26% to 52-week low as market coupling gets go-ahead. What should investors do?
What should investors do now? Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Indian Energy Exchange IEX ) came under heavy selling pressure on Thursday, crashing 26% intraday to hit a fresh 52-week low of Rs 139.05 on the sharp decline followed the Central Electricity Regulatory Commission's ( CERC ) decision to approve market coupling in the day-ahead market segment—a move expected to dilute IEX's dominant position in electricity price stock, which was already under pressure in recent sessions, opened with a significant gap-down and hit its lower circuit limit, triggering widespread investor regulatory change is viewed as a structural shift in the power trading landscape, leading to a marked shift in market sentiment around the steep correction and regulatory headwinds, analysts are advising caution on fresh positions while outlining key levels for existing investors to Mishra, SVP – Research at Religare Broking, noted that IEX has declined sharply following the CERC's approval of market coupling, dragging the stock to a four-month low.'Going forward, the Rs 120–Rs 140 zone is expected to offer strong support, while the Rs 170–Rs 180 zone may act as resistance during any recovery attempts,' he added that existing investors should manage their positions based on these key levels, while fresh investors are advised to stay on the sidelines and wait for signs of price stability before considering any Matalia, Derivative Analyst at Choice Broking, stated, 'Today's sharp gap-down breakdown not only breached the consolidation zone but also broke below key swing lows, confirming a fresh leg of weakness.'He added that the Relative Strength Index (RSI) is now at a deeply oversold level of 17.68, signaling persistent selling pressure and no immediate signs of advised that short-term traders avoid fresh buying at current levels. 'For those already holding the stock, any bounce should be used to exit, as the recent regulatory move may continue to weigh on IEX's price performance in the near term,' he said. He also recommended that investors considering fresh long positions should wait for further clarity and signs of price S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identified Rs 150 as a critical support level. He pointed out that this area aligns with both the anchored volume profile and the yearly S3 Camarilla pivot, suggesting a possible technical base.'Analysts suggest adopting a wait-and-watch approach for the next 4–5 sessions, as the stock may attempt to stabilize and form a base in the Rs 140–150 zone before any meaningful reversal,' Jigar of 12:40 p.m., shares of IEX remained locked in their 26% lower read: Nestle Q1 Results: Consolidated PAT falls 13% YoY to Rs 647 crore, revenue rises 6% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)On Thu, Jul 24, 2025 at 12:41 PM Nishtha Awasthi < > wrote:
