Of the three focus areas, the lighting sector grew by 12% and the healthcare sector by 22%. Operating profits for the year 2009-10 dropped by Rs 21.2 crore largely due to lower sales and eroding margins in the consumer lifestyle sector. The reduction in margins is changing the shape of consumer electronics, said Sivaraman. Philips has signed a licensing agreement with Videocon. We want to focus on a portfolio that is profitable, he added.
In the next few months, the company is likely to increase capacities in the healthcare space. "We are looking at acquisitions in all three sectors. Theres an integration happening in the healthcare segment too, said Sivaraman.
At the AGM, the board took shareholder approval to borrow Rs 1,000 crore to fund the companys organic and inorganic growth by way of acquisitions and strategic alliances across all sectors.