Symphony Ltd, PAT at ₹ 68 Cr. in Nine Months Ended FY 2021-22

Financial Highlights:

Standalone sales are ₹ 388 cr. for Nine Months ended 21-22 vs. ₹ 275 cr. for Nine Months ended 20-21. Standalone PAT is ₹ 68 cr. for Nine Months ended 21-22 vs. ₹ 63 cr. for Nine Months ended 20-21.

Consolidated sales are ₹ 653 cr. for Nine Months ended 21-22 vs. ₹ 560 cr. for Nine Months ended 20-21. Consolidated PAT is ₹ 57 cr. for Nine Months ended 21-22 vs. ₹ 44 cr. for Nine Months ended 20-21.

Symphony has recommended a 2nd interim dividend of 50% i.e. ₹ 1/- per equity share of ₹ 2/- each amounting to ₹ 7 crores.

 January 25, 2022: Mr. Nrupesh Shah, Executive Director of Symphony Ltd. has commented:

• Standalone Gross Profit and EBITDA margin % during the quarter are lower due to:
• Large revenue expenses incurred for various initiatives related to Direct to Consumer Sales (D2C), Large Space ventilated air cooler (LSV), exports to the USA and new upcoming air cooler models.
• The Company initiated various measures to support the trade partners to take care of their inventory and better sales performance in subsequent quarters.
• Nine months Consolidated Gross Profit and EBITDA margin % are higher than the previous year. Annual and March 2022 quarter Consolidated Gross Profit and EBITDA % are expected in line with the previous year.

Outlook

Having a premium brand with various path-breaking models for household, commercial and industrial needs and being a market leader, we are quite optimistic for growth and performance in a medium to long term period that remains intact.