Symphony Ltd., included within the 12 months 1988, is a Mid Cap firm (having a market cap of Rs 6638.92 Crore) working in Client Durables sector.
Symphony Ltd. key Merchandise/Income Segments embrace Air Coolers, Others and Different Working Income for the 12 months ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2022, the corporate reported a Consolidated Complete Revenue of Rs 341.00 Crore, down -14.75 % from final quarter Complete Revenue of Rs 400.00 Crore and up 43.28 % from final 12 months similar quarter Complete Revenue of Rs 238.00 Crore. Firm reported internet revenue after tax of Rs 29.00 Crore in newest quarter.
Funding Rationale
Symphony’s home enterprise delivered an in-line efficiency together with excessive channel stock clearing as much as negligible ranges. Home income was at INR 1,880mn, 119/+11% YoY/QoQ, up 8% on a three-year CAGR. The home gross sales had been along with the heavy channel liquidation, reconfirming the sturdy air cooler demand through the peak season in India. Exports had been at INR 200mn (HSIE INR 254mn) vs. INR 180mn YoY. RoW was down 1% on three-year CAGR. The US enterprise noticed sturdy quantity development; nevertheless, worth was impacted by discounting. Consolidated gross margin expanded 211bps YoY to 45.6%. Increased A&P spends, freight prices and guarantee provisioning impacted consolidated in addition to India EBITDA margin. With regular negligible channel stock and robust preliminary pick-up by commerce in July, the brokerage expects home enterprise to be in good condition. Working margin can be anticipated to bounce again from Q2FY23 onwards with normalised advertising and marketing spend and value hike.
Promoter/FII Holdings
Promoters held 73.25 per cent stake within the firm as of 30-Jun-2022, whereas FIIs owned 4.33 per cent, DIIs 10.9 per cent.
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