Symphony Expects Strong June Quarter, Improved Margins Led By Early Summer Sales
Symphony’s Nrupesh Shah expressed confidence over the company improving 18–19% EBITDA margins seen in the first nine months of FY25 in Q4.
Leading air cooler manufacturer Symphony Ltd. is expecting a strong performance in the June quarter of the next financial year, led by early summer sales.
Speaking with NDTV Profit, Nrupesh Shah, Managing Director, Corporate Affairs, of the company, said that last year, the company had sold out its inventory by the end of the summer season.
In some parts of the country, especially in South India, there has been an early summer this year. As sales have already started, the company expects a strong performance in the coming quarters.
“All signs are summer is likely to be good. June quarter performance will be good, and that drives the performance for the entire year. In that case, in line with FY25, we expect strong FY26. Not only Symphony India, but all our international subsidiaries,” Shah said.
On being asked if Symphony can maintain the margins of 18–19% seen in the first nine months of the current fiscal, he said the company should see similar margins in the next fiscal as well. Moreover, the company could see an improvement in the EBITDA margin in the fourth quarter of the current fiscal.
“Whatever Ebitda margin percentage we have witnessed in the first 9 months, we believe that we should maintain it. Maybe in the current quarter, we should improve upon that,” Shah added.
Regarding the outlook for its subsidiaries, he said the Australian subsidiary Climate Technologies Pty Ltd is “still bleeding.” Symphony acquired the company in 2018, and he said that they have managed to reduce the cost to less than half of what it was at the time of acquisition.
Previously, the annual overheads were more than Australian $15 million (Rs 81.5 crore); now it has been reduced to less than Australian $7 million (Rs 38 crore), Shah said, expressing optimism about a turnaround in a year or two.
He also expressed confidence in other foreign subsidiaries like IMPCO Mexico and GSK China. According to Shah, both firms are on a strong growth and performance trajectory. Shah added that the Symphony’s Brazilian unit is a trading subsidiary and it should be seen as a vehicle for exports from India.
Symphony Ltd.’s cooling solutions include household air coolers, tower fans, commercial cooling, and large space venti-cooling. Till now, it has sold over 2.5 crore coolers and has a presence in over 60 countries.
Symphony shares were trading 2.65% higher at Rs 1,152.10 as of 1:34 p.m., compared with 1.17% rise in the Nifty 50.
