Symphony Ltd PAT at Rs.76.49 crore, up 33% in H1FY 2015-16
Company has declared Rs. 5 per share interim dividend
Financial Highlights
| Q2 | H1 | |||||
| FY 16 | FY 15 | Growth | FY 16 | FY 15 | Growth | |
| Net Sales
(in Rs. cr) |
162.10 | 135.48 | 20% | 276.52 | 227.43 | 22% |
| Net Profit (in Rs. cr) | 47.73 | 36.02 | 32% | 76.49 | 57.65 | 33% |
| EPS
(in Rs.) |
13.64 | 10.30 | 32% | 21.87 | 16.48 | 33% |
| Interim Dividend | 250% | 200% | 25% | 250% | 200% | 25% |
January 28, 2016: World’s largest air cooler company, Symphony Limited, reported a 32% rise in net profit at Rs. 47.73 crore for the second quarter ended December 2015 as against Rs. 36.02 crore in the corresponding quarter of previous fiscal 2014-15. Net sales for Q2 of FY 2015-16 at Rs. 162.10 crore were higher by 20% over previous fiscal’s same quarter net sales of Rs. 135.48 crore. EBITDA margin on Gross Revenue for Q2 FY 2015-16 stood at 40% and EPS was at Rs. 13.64.
The Company has declared interim dividend of 250% i.e. Rs. 5/- (Previous year 200% i.e. Rs. 4/-) per equity share of Rs. 2/- each amounting to Rs. 2104.96 lacs including dividend distribution tax.
For the six months ended December 2015, the company reported a net profit of Rs. 76.49 crore against a net profit of Rs. 57.65 crore in the previous financial year’s first half, a 33% growth. Net sales in first half of FY 2015-16 at Rs. 276.52 crore were higher by 22% compared to Rs. 227.43 crore in the first half of previous fiscal. EBITDA margin on Gross Revenue for H1 FY 2015-16 stood at 37% and EPS was at Rs. 21.87.
Commenting on the financial performance of the company, Mr. Nrupesh Shah, Executive Director of Symphony Ltd. said:
- The Company has successfully acquired “MKE (Munters Keruilai Air Treatment Equipment (Gungdong) Co. Ltd., China”, a leading Chinese air cooler Company.
- EBIDTA margin is up from 35% to 37.3% and PAT margin is up from 25.8% to 28.2% in the first half of FY 2015-16 vis a vis first half of 2014-15.
- The EBIDTA and PAT margin have improved further on account of lower commodity prices, operational efficiency and continuous value engineering.
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 2014-15, company reported consolidated net profit of Rs. 115.91 crore.