Company Snapshot

Signify Innovations India Ltd. (formerly Philips Lighting India Ltd.) is the Indian subsidiary of Signify N.V., a Dutch multinational and the global leader in lighting solutions for professionals, consumers, and IoT-based systems. Incorporated in April 2015, it is headquartered in Kolkata, with leadership including Sumit Joshi (CEO) and Dibyendu Raychaudhury (CFO).

Business Model & Services

• SOffers a broad portfolio: LED lighting, smart lighting systems, architectural and decorative lighting, and modular switches under brands like Philips and EcoLink.
• Leading player in India: it holds over 25% market share in the ₹15,000 crore Indian lighting industry and aims to extend its leadership across both B2B and B2C segments.
• Pioneering smart lighting networks: has established around 300 Philips Smart Light Hubs across India, with plans to add 200 more in the coming years.

Growth & Strategy

• In FY 2023, the company achieved >span>~10.8% revenue growth and a 15% increase in profitability, along with ~8% net worth growth.
• FY 2024 guidance targeted high double-digit growth, particularly in professional lighting, capitalizing on connected lighting and infrastructure projects like smart cities and facade installations.
• Smart lighting systems comprised nearly 13% of revenue (FY 2023) and are expected to reach 20% during the year and 50% within three years.

Innovation & Sustainability

• Aggressive push into smart and connected systems to serve homes and cities under IoT platforms.
• Developed value-focused product lines like EcoLink and decorative brands (e.g., Color Kinetics) tailored for cost-effective mass adoption and export.
• Emphasis on resource-efficient products and circular design aligns with global sustainability goals through its parent’s ESG credentials.

Strategic Alliances: Joint Venture with Dixon

• In March 2025, Signify Innovations signed an agreement to form a 50:50 joint venture with Dixon Technologies to manufacture lighting products and accessories in India, supporting the government's Make in India initiative.
• The JV entity, Lightanium Technologies, was formally incorporated in July 2025 and will act as an OEM for lighting equipment, reinforcing manufacturing and distribution capabilities.

INDUSTRY OUTLOOK

Market Size & Forecasts

Overall Lighting Market

2024: ~₹38,000 crore

2033 (Projected): ~₹59,000 crore

CAGR: ~5.1% (2025–2033)

LED Lighting Market

2024: ~₹68,000 crore

2030 (Projected): ~₹1.12 lakh crore

CAGR: ~9.3%

Smart Lighting Market

2024: ~₹7,800 crore

2033 (Projected): ~₹91,000 crore

CAGR: ~28.7%

Smart Home Lighting Subsegment

2024: ~₹6,500 crore

2033 (Projected): ~₹71,000 crore

CAGR: ~30.2%

Key Drivers

Government programs like UJALA, Smart Cities Mission, and EESL retrofits are driving bulk LED and smart lighting adoption.

Urban real estate growth, commercial infrastructure, and smart homes are pushing demand in cities.

IoT-enabled lighting (motion sensors, remote/app controls) is a fast-growing trend in homes, offices, and streets.

Energy savings focus from businesses and municipalities is accelerating the transition from conventional to LED and smart systems.

Summary:

The Indian lighting sector is set for steady to high growth, with smart and connected lighting driving the next wave of expansion. Policy support, sustainability goals, and technological innovation will shape its trajectory over the next decade.

Latest shareholding pattern of Signify Innovations India Ltd.