By Vivek K Mob: 00919820310487 E-mail: firstname.lastname@example.org
World’s largest air cooler company, Symphony Limited, reported a big jump of 597% to Rs 14.32 crore in net profit for the first quarter ended September 30, 2013 of financial year 2013-14 as against Rs 2.05 crore in the corresponding fiscal of 2012-13.
Total income for the first quarter of 2013-2014 at Rs 77.21 crore was up 180% as against a turnover of Rs 27.50 crore for the first quarter of financial year 2012-13. EBITDA margin for Q1 2013-14 stood at 26% and EPS was much higher at Rs 4.09.
During the first quarter, Symphony announced the launch of India’s first branded “Window Range” of air coolers to strengthen its product range in residential air coolers. Company is planning to unveil five models of window air coolers, 3 made of plastic and 2 made of metal body, with advanced features like Dura Pump Technology, in-built float valve for automatic water refill and inverter compatibility.
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Commenting on the financial performance of the company, Mr. Nrupesh Shah, Executive Director of Symphony Ltd. Said, “The growth is on account of buoyancy and strong performance across all business verticals. Net profit margin stood at 19% in Q1 FY 2013-14 as against 7% in Q1 FY 2012-13. The Company is having corporate funds which includes liquid investments (like bank FD, mutual fund investments, bonds, NCD etc.) of Rs 147.78 crore as of Q1 FY2014.”
ABOUT SYMPONY LIMITED:
A world leader in evaporative air coolers, Symphony focuses on innovative design to create better and eco-friendly products for domestic and industrial customers in 60 countries across the globe. At Symphony, design-driven innovation and green engineering is a sustainable competitive advantage. Company delivers market-leading products with engineering and design innovation, improved energy conservation, distinctive styling and customer-centric design.
Established in 1988, Symphony leverages a unique and successful asset-light business model for its residential coolers in India and in-house lean manufacturing for its industrial coolers in Mexico to achieve sustainable and profitable growth.
Headquartered in Ahmedabad, Gujarat, India, Symphony is a global company committed to develop sustainable and responsible products. This means leading the air-cooling industry’s efforts to develop breakthrough green technologies to combat climate change. A publicly traded company in India with a manufacturing base in North America offering products in over 60 countries, Symphony continuously delivers value to its stakeholders in a profitable and predictable way. For the FY 2012-13, company reported net profit of Rs 60 crore on sales of Rs 390 crore.