Symphony’s board has approved a strategic initiative to explore the divestment / monetization of stakes in its subsidiaries -- Climate Technologies Pty in Australia (CT) and IMPCO S de R.L. de C.V. in Mexico (IMPCO). Meanwhile, the management is authorized to reclassify investments in these subsidiaries as ‘Assets held for Sale’.
This decision is part of the company's ongoing efforts to sharpen top management’s focus, time and bandwidth on high-growth and higher-profitability opportunities with much higher ROCE (%) within India and various other international export markets, ultimately driving shareholder value creation.
Symphony is engaged in manufacturing and trading residential, commercial and industrial air coolers in the domestic and international markets.
