Symphony Ltd

Symphony Ltd

₹ 1,139 1.84%
15 Jul 1:53 p.m.
About

Symphony was established in 1988, in Ahmedabad, India. The company is engaged in the manufacturing and trading of residential, commercial, and industrial air coolers in the domestic and international markets. It is the largest air cooler manufacturer in the world. [1]
97% of the revenue comes from the sale of Air coolers.[2]

Key Points

Product Portfolio
Symphony Limited is the world leader in evaporative air coolers. It addresses every cooling need with a product range comprising household, commercial and industrial air coolers.[1] As of FY23, company has 97+ designs, 20+ copyrights, 55+ patents 417+ trademarks in its name. It has sold 25+ mn air coolers worldwide.[2]

  • Market Cap 7,855 Cr.
  • Current Price 1,139
  • High / Low 1,290 / 820
  • Stock P/E 52.6
  • Book Value 109
  • Dividend Yield 1.14 %
  • ROCE 19.0 %
  • ROE 18.3 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 48.0%

Cons

  • Stock is trading at 10.4 times its book value
  • The company has delivered a poor sales growth of 6.50% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
339 230 220 205 384 329 274 277 308 302 275 247 332
255 220 181 175 302 295 237 233 285 276 234 203 275
Operating Profit 84 10 39 30 82 34 37 44 23 26 41 44 57
OPM % 25% 4% 18% 15% 21% 10% 14% 16% 7% 9% 15% 18% 17%
6 8 9 7 16 12 14 14 10 14 11 15 9
Interest 3 2 2 3 2 2 2 3 3 3 2 3 2
Depreciation 5 6 6 6 6 6 6 7 7 7 7 6 6
Profit before tax 82 10 40 28 90 38 43 48 23 30 43 50 58
Tax % 23% 40% 25% 25% 29% 24% 26% 19% 30% 20% 19% 18% 17%
63 6 30 21 64 29 32 39 16 24 35 41 48
EPS in Rs 8.86 0.86 4.29 3.00 9.01 4.15 4.72 5.57 2.29 3.48 5.08 5.95 6.96
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
347 487 525 446 764 798 844 1,103 900 1,039 1,188 1,156
269 364 393 309 565 579 711 889 759 877 1,048 988
Operating Profit 78 123 132 136 199 220 133 213 140 162 140 168
OPM % 22% 25% 25% 31% 26% 28% 16% 19% 16% 16% 12% 15%
18 16 34 33 43 54 15 51 24 40 50 49
Interest 1 0 1 0 1 2 8 13 12 10 12 10
Depreciation 4 4 4 4 7 7 10 21 21 24 26 26
Profit before tax 91 135 161 165 235 265 130 230 131 168 152 181
Tax % 34% 22% 28% 28% 29% 27% 30% 21% 18% 28% 24% 18%
60 106 116 118 166 193 92 182 107 121 116 148
EPS in Rs 8.59 15.10 16.56 16.91 23.77 27.52 13.19 25.94 15.34 17.20 16.64 21.46
Dividend Payout % 38% 43% 42% 74% 19% 16% 34% 89% 33% 52% 30% 61%
Compounded Sales Growth
10 Years: 13%
5 Years: 7%
3 Years: 9%
TTM: -3%
Compounded Profit Growth
10 Years: 10%
5 Years: 7%
3 Years: 10%
TTM: 29%
Stock Price CAGR
10 Years: 7%
5 Years: -2%
3 Years: 1%
1 Year: 28%
Return on Equity
10 Years: 23%
5 Years: 18%
3 Years: 16%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 7 7 7 7 14 14 14 14 14 14 14 14
Reserves 215 269 299 312 451 598 652 625 745 825 867 735
0 0 0 0 19 26 188 210 219 254 232 169
94 118 116 104 121 119 211 215 236 267 281 300
Total Liabilities 316 393 423 422 605 757 1,065 1,064 1,214 1,361 1,394 1,218
70 70 68 77 79 82 237 318 354 355 351 327
CWIP 4 8 0 3 0 0 6 2 0 0 0 0
Investments 99 199 242 162 292 422 458 412 484 500 527 373
144 117 112 180 234 252 363 332 375 506 516 518
Total Assets 316 393 423 422 605 757 1,065 1,064 1,214 1,361 1,394 1,218

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
67 90 104 89 95 107 140 157 89 57 125 161
-34 -60 -37 70 -65 -102 -250 78 -53 6 -12 192
-30 -33 -66 -145 -5 -29 118 -241 -21 -34 -124 -366
Net Cash Flow 4 -3 1 13 25 -25 7 -6 14 29 -10 -13

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Jun 2013 Jun 2014 Jun 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 40 31 23 38 25 28 45 40 67 73 35 53
Inventory Days 94 62 70 100 77 75 96 74 87 111 137 140
Days Payable 39 56 61 90 55 55 104 72 100 95 91 90
Cash Conversion Cycle 95 37 32 48 48 48 38 42 55 88 81 103
Working Capital Days 19 -1 -3 29 33 53 38 36 44 68 55 94
ROCE % 43% 54% 50% 51% 58% 46% 22% 29% 16% 17% 15% 19%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
73.25% 73.25% 73.25% 73.25% 73.25% 73.25% 73.25% 73.38% 73.38% 73.38% 73.38% 73.38%
4.25% 4.31% 4.49% 4.33% 4.03% 4.01% 3.74% 3.62% 3.81% 3.40% 3.32% 4.83%
9.46% 10.02% 10.05% 10.89% 11.14% 11.22% 11.10% 10.69% 10.44% 11.03% 10.27% 9.98%
13.04% 12.42% 12.21% 11.53% 11.59% 11.53% 11.91% 12.29% 12.34% 12.17% 13.02% 11.80%
No. of Shareholders 62,67858,35258,53853,36452,37751,9601,39,98068,35566,71167,66072,43954,960

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls