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Symphony Ltd Stock Analysis

Mid Cap
Evaluated by 3079 users | BSE: 517385 | NSE: SYMPHONY |
Consumer Durables - Domestic Appliances

Symphony, an Indian Multi-National Company with presence in many countries is the world’s largest manufacturer of air-coolers. From inventions to innovations, energy responsibility to environment stewardship, Symphony is a market leader which has been...

1. Right Stock
Very Good
2. Right Price
3. Right Time

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Symphony Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation
Value Creation Index Colour Code Guide
 Jun'11Jun'12Jun'13Jun'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 39.3%31.06%27.2%42.59%36.99%35.37%38.23%30.29%12.56%20.16%
Value Creation Index 1.320.630.611.511.181.091.260.79-0.260.19
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 2913133785335265947657988441,103
Y-o-Y Gr. Rt.-7.9%20.6%40.9%-1.3%13%28.7%4.4%5.7%30.7%
Adjusted EPS (Rs.) 6.677.688.0815.1215.321.0121.8724.0612.6422.86
Y-o-Y Gr. Rt.-15.1%5.2%87.1%1.2%37.3%4.1%10%-47.5%80.9%
Book Value per Share (Rs.) 18.6323.8728.636.2543.7760.7366.4887.4495.2291.38
Adjusted Net Profit 46.753.756.510610714715316888.4160
Net Op. Cash Flow (Rs. Cr.) -0.684.366.890.410411894.7107140157
Debt to Cash Flow from Ops -0.280.0900000.20.241.351.1
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Symphony Ltd. should be analysed on a Consolidated basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 16%16%13%30.7%
Adjusted EPS 14.7%8.4%1.5%80.9%
Book Value per Share 19.315.911.2-4
Share Price 27.8% -0.7% -13.8% 33.1%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Jun'11Jun'12Jun'13Jun'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 39.0931.4427.4842.4936.7935.2939.0531.2613.8424.5
Operating Profit Margin (%) 23.8223.4320.9423.525.8631.0626.3627.5215.7619.36
Net Profit Margin (%) 16.0717.1314.9519.8620.3624.7420.0121.0810.414.53
Debt to Equity 00.0400000.040.040.280.27
Working Capital Days 1051451077279121103124136115
Cash Conversion Cycle 60846030191720242925
Corporate Governance What do we look at?
Corporate Governance
Board Credentials
Promoter's holding
Transparency
Integrity
Entity Percentage Holding
Promoters 73.25%
Institutions 14.60%
Non-Institutions 12.15%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Symphony Ltd and arrived at the following conclusion:

Past 10 year's financial track record indicates that Symphony Ltd is a good quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Symphony Ltd's performance infers:

Symphony Ltd earnings have grown by 8.4%, whereas share price has depreciated -0.7% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Symphony Ltd share prices over the last 10 years. Here is what we found out:

Symphony Ltd share price has depreciated 22.6% annually over the past ten years.

Symphony, an Indian Multi-National Company with presence in many countries is the world’s largest manufacturer of air-coolers. From inventions to innovations, energy responsibility to environment stewardship, Symphony is a market leader which has been cooling customers for generations. The massive supremacy of Symphony coolers in the residential, industrial and commercial segments has made the brand synonymous with ‘cooling’.

Read More

Symphony, an Indian Multi-National Company with presence in many countries is the world’s largest manufacturer of air-coolers. From inventions to innovations, energy responsibility to environment stewardship, Symphony is a market leader which has been cooling customers for generations. The massive supremacy of Symphony coolers in the residential, industrial and commercial segments has made the brand synonymous with ‘cooling’.

Founded in 1988, in Gujarat, India, Symphony Limited established a new category of evaporative air-cooling in India, taking it to the globe. At Symphony, research and development and engineering technology is a sustainable competitive advantage. The company delivers market-leading products with design innovation, improved energy conservation, distinctive styling and customer-centric design. As a pioneer in the air-cooling industry, Symphony develops breakthrough technologies to combat climate change. It is providing solutions for affordable cooling and comfortable environments for maximum efficiency, productivity and wellbeing.

Symphony Limited is a publicly traded company delivering value to its stakeholders in the most profitable and effective way.  Symphony Limited has been awarded the Guinness World Record for creating the world’s largest functioning air coolers. The company also provides solutions through its world’s largest air cooling project In Mecca-Madina at Hajj Camp and Ramdev Patanjali Yoga Bhavan, Haridwar, India.

Business area of the company

The company is engaged in manufacturing and trading residential, commercial and industrial air coolers in the domestic and international markets. The Company operates in two sections: manufacture of air-coolers and treasury management. It provides tower, personal, desert, room and window air-coolers for residential use. Its commercial air cooling solutions are installed in open restaurants, party plots and large halls, among others. Its industrial air-coolers are used for factories, offices, schools, malls, assembly halls, warehouses and metro stations, among others. The Company also offers services to banks, auto industry, packaging, distilleries and railways.

Products

  • Household Coolers
  • Commercial Coolers
  • Industrial Coolers

Awards

  • 1994: Achal Bakeri, Chairman & Managing Director, is awarded the Young Achiever Award by Worldcom.
  • 1995: Achal Bakeri, Chairman & Managing Director, is felicitated by Sir John Major, then the Prime Minister of United Kingdom.
  • 2000: Symphony is awarded the Guinness World Record for creating the world's largest functioning air cooler.
  • 2012: The Ministry of Science and Technology, Government of India accorded the certificate of recognition to Symphony's in-house R&D centre.
  • 2012: Symphony received coveted recognition of Star Export House from Govt. of India.
  • 2012: Symphony wins Award for Excellence in Financial Reporting by The Institute of Chartered Accountants of India for its Annual Report of FY 2009-2010.
  • 2013: Symphony has won India Design Mark for best design of its Diet 22i air cooler.
  • 2014: Symphony has won most prestigious Quality Mark Award for year 2014.
  • 2014: Symphony has bagged prestigious 'Best Presented Annual Report Award for Manufacturing Sector' for its annual report of 2012 by South Asian Federation of Accountants (SAFA).
  • 2015: India's Most Attractive Brand award under 'Coolers' category by TRA Research
  • 2015: Won awards for Best SME – Overall and Best SME – Manufacturing.
  • 2015: “Best Innovative Company Award'.
  • 2016: Recognized as 'India's Most Trusted Cooler Brand' by The Brand Trust Report
  • 2016: Award of appreciation for participation in Acrex India 2016
  • 2016: VAT Award by Maharashtra State Government
  • 2016: Recognized as 'Gold Partner' by Ventcof
  • 2017: Ranked 1 in the Small Enterprises-Manufacturing category at the Financial Express CFO Awards
  • 2017: 'Brand Slam Award 2017' by Indira Group of Institutes
  • 2017: Award of recognition for participation in 13th Engimach show (held in December 2017)
  • 2018: CMD, Achal Bakeri, awarded the 'Eminence Award for Product Innovation & Business Development' by Divya Bhaskar certificate
  • 2018: Recognized as 'India's Most Trusted Air Cooler Brand' by The Brand Trust Report
  • 2018: CMD, Achal Bakeri, recognized as the 'CEO of the Year' in the Emerging Businesses category at CNBC CEO Awards
  • 2019: Recognized as 'India's Most Trusted Air Cooler Brand' by The Brand Trust Report.
  • 2020: Recognized as the 'Best Brand' by the Gujarat Brand Leadership Awards 2020.

Milestones

  • 1988: Symphony pioneered branded air cooler in India
  • 1990: Established a nationwide network; launched a national television campaign
  • 1993: Launched Kaizen - AC jaisa cooler
  • 1994: Symphony wend public
  • 2000: Launched Sumo- the revolutionary desert cooler.
  • 2001: Keruilai was established as China’s firs air cooler brand
  • 2002: The first evaporative air cooler brand in China to meet the technology evolution requirement of ‘Green Star Products’.
  • 2005: Launched the first ever cooler with 4-side cooling – winter
  • 2005: Introduced HiCool with humidity control
  • 2008: Introduced the power saving technology
  • 2009: Acquired IMPCO air coolers
  • 2009: Launched world’s first Diet cooler range
  • 2010: Introduced Central air cooling solution
  • 2010: Implemented India’s largest commercial air cooling project
  • 2012: Introduced the intelligent cooler range
  • 2012: Introduced storm-the world’s largest tower cooler
  • 2012: Received government recognition for R&D center
  • 2013: 25 years of Symphony
  • 2014: Introduced range of Window Coolers with sun resistance body
  • 2015: Market value of the company crossed $1.5 billion.
  • 2015: Acquisition of Keruilai.
  • 2015: Launched packaged air coolers.
  • 2016: Introduced Cloud - world’s first wall mounted air cooler
  • 2016: Introduced i-Pure - cooler with multistage air purification
  • 2016: Symphony acquires entire stake in Munters Keruilai Air Treatment.
  • 2017: Introduced touch range - world’s 1st air coolers with touchscreen and voice assist.
  • 2018: Introduced sense series - world’s 1st air coolers with gesture control
  • 2018: Introduced diamond series - powerful desert coolers with double blower.
  • 2018: Symphony’s acquisition of Australia’s Climate technologies
  • 2019: Symphony introduce its commercial range of air coolers and world’s first universal air cooler manufactured in India.
  • 2020: Launched range of accessories for industrial and commercial air coolers.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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