Symphony Ltd PAT at Rs. 68 Crore for 9M FY2021-22

The Board of Directors of Symphony Limited, at its meeting held today have approved the financial results of the company for the period ended December 31, 2021 - Q3FY22, 9MFY22.

Standalone sales is ₹ 388 cr. for Nine Months ended 21-22 vs. ₹ 275 cr. in Nine Months ended 20-21. Standalone PAT is ₹ 68 cr. for Nine Months ended 21-22 vs. ₹ 63 cr. in Nine Months ended 20-21.

Consolidated sales is ₹ 653 cr. for Nine Months ended 21-22 vs. ₹ 560 cr. in Nine Months ended 20-21. Consolidated PAT is ₹ 57 cr. for Nine Months ended 21-22 vs. ₹ 44 cr. in Nine Months ended 20-21.

Symphony has recommended 2nd interim dividend of 50% i.e. ₹ 1/- per equity share of ₹ 2/- each amounting to ₹ 7 crores.

Mr. Nrupesh Shah, Executive Director of Symphony Ltd. commented:

- Standalone Gross Profit and EBITDA margin % during quarter are lower due to:

- Large revenue expenses incurred for various initiatives related to Direct to Consumer Sales (D2C), Large Space ventilated air cooler (LSV), exports to USA and new upcoming air cooler models.

- The Company initiated various measures to support the trade partners to take care of their inventory and better sales performance in subsequent quarters.

- Nine months Consolidated Gross Profit and EBITDA margin % are higher than previous year. Annual and March, 2022 quarter Consolidated Gross Profit and EBITDA % are expected in line with previous year.

Outlook

Having a premium brand with various path breaking models for household, commercial and industrial needs and being a market leader, we are quite optimistic for a growth and performance in medium to long term period that remains intact.

Shares of Symphony Limited was last trading in BSE at Rs. 1046.25 as compared to the previous close of Rs. 1023.00. The total number of shares traded during the day was 13383 in over 2652 trades.

The stock hit an intraday high of Rs. 1059.00 and intraday low of 967.00. The net turnover during the day was Rs. 13522398.00.

Source : Equity Bulls

Keywords

Symphony INE225D01027 Q3FY22 9MFY22 ResultUpdate