As India welcomes the winter season and a new year, Symphony Ltd. is preparing for bumper summer growth in the upcoming financial year, said Achal Bakeri, chairman and managing director of the company.
While business in Mexico was good for the air cooler manufacturer, it was moderate in China and not so great in India and Australia. But fiscal 2025 promises to be "a lot better and we are very positive and very upbeat about prospects." The company has plans for bumper summer and growth in all the other markets it operates in, he said.
The Australian business has been in a "bit of a dark spot" over the last few years, but "the worst is behind us," the chairman said. Plans in place will bear fruit in the next financial year and the additional capital in the Australian business will help retire some debt, Bakeri told NDTV Profit.
The plateauing of business was largely due to Covid-19, as most economies are still recovering. But things are falling into place, he said. "We believe we are at the bottom of the turf and things can only get better now."
With climate change impacting the weather and reducing tolerance for heat, Bakeri sees a rise in air cooler sales due to the low energy consumption and the ease of "plug and play" products. The heat will also give a push to the concept of industrial cooling, as "99% industries do not have any cooling," and it can be unbearable to work.
The chairman sees Symphony growing into a larger company with good return ratios, as "things look lot better" in the upcoming year.
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