The Hindu Business Line : Philips India eyeing buyouts for growth

Kolkata April 19 Philips India Ltd is eyeing acquisitions in sectors such as lifestyle electronics, healthcare and medical systems, according to Mr K. Ramachandran, Managing Director. The likely acquisitions would be funded from internal accruals and borrowings.

According to Mr S.M. Datta, Chairman, the company was building up a "cash war chest" to fund likely acquisitions.

Speaking to newspersons at the conclusion of the company's 77th annual general meeting here on Thursday, Mr Ramachandran said the idea was to secure growth in the years ahead. It also sees growth from its luminaires, compact fluorescent lamps, medical products and domestic appliances businesses.

In the current year, Philips India would make a capital expenditure of Rs 50 crore. The current reserves of the company stand at Rs 697 crore.

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