Symphony Enters Rs. 10,000 Crore Market Cap Club

• Company’s share price has risen over 2126 fold in a decade to Rs. 2,870.55 per share on April 9, 2015 from 1.35 per share on April 7, 2005

• Rs. 1000 invested in the shares of Symphony Ltd on April 7, 2005 has grown to a whopping Rs. 21.26 lakh today on April 9, 2015                                                               

World’s largest air cooler company Symphony Limited has entered an elite league as its market capitalisation crossed the Rs. 10,000 crore mark for the first time on Thursday. Company’s share price today touched a new high of Rs. 2,889.90 per share intra-day and closed at Rs. 2,870.55 per share on the Bombay Stock Exchange. Its market capitalisation touched a high of Rs. 10,108.78 crore intra-day and on closing basis it was Rs. 10,040.75 crore.

This Ahmedabad-based company has achieved a major turnaround in last one decade. Symphony has been one of the best performing stock of the decade 2005-2015. Share price of Symphony Ltd increased from 1.35 paise per share as of April 7, 2005 to Rs. 2,870.55 per share on Thursday, April 9, 2015 – a rise of over 2126 fold. Rs. 1000 invested in the shares of Symphony Ltd on April 7, 2005 has grown to a whopping Rs. 21.26 lakh. In last 1 year, company’s share has increased by 296% to Rs. 2,870.55 per share from Rs. 725.20 per share on April 9, 2014. 

Speaking about this momentous event in the company’s history, Mr. Achal Bakeri, Chairman and Managing Director of Symphony Ltd said, “Symphony has for the first time ever crossed the Rs. 10,000 crore market capitalisation mark today. This is a proud day for all of us at Symphony and we will continue to reward all our stakeholders with even better results on all fronts in the coming years. The residential air cooler market in India and globally has potential to grow much more. We have only scratched the industrial and commercial air cooler market in India and we see a significant contribution to our revenues from this market in the coming decade.”  

“This event also coincides with Symphony moving to its new head-office building. The building is situated off SG Highway in Ahmedabad, is spread over 6 levels and is spread over 60,000 square feet area. This is a state-of-the-art building which can accommodate up to 500 head-office staff. It is designed as per Green Building guidelines and Symphony is in the process of applying for Leadership in Energy & Environment Design (LEED) building certification developed by US Green Building Council,” said Mr. Bakeri.

Symphony Ltd is market leader in the in the Indian air cooler industry with 50% market share (in value terms) among the organised players. At Symphony, the strategy is ‘One Product Many Markets’ and this strategy has paid off well over last decade. Company sells air coolers under its own brand name in over 60 countries, making it the World’s largest air cooler company.

As on December 2014, promoter holding in the company stands at 75% while a total of 56 institutins including 38 foreign institutions hold 7.15% in the company and over 10,000 retail investors hold 9.38% in the company. For the year ended June 2014, Symphony posted net profit of Rs 105.72 crore on turnover of Rs 532.42 crore. In the last 5 years, company has managed CAGR of 34% in sales and 30% in net profit. Company has reserves and surplus of Rs. 268.84 crore as on June 2014.

Globally, Symphony’s products have been endorsed by a number of corporate giants, namely General Electric (Illinois, USA), Wal-Mart Stores (Nevada, USA), Lear Corporation (USA), Jamarat Complex (Saudi Arabia), Carrefour (Indonesia) and more than 100 supermarkets in Mexico. Symphony Ltd possess largest number of trademarks and registered designs in the international air cooler industry with 108 trademarks, 49 registered designs, 7 copyrights and 8 patents. The company has been awarded Guinness World Record for creating the world’s largest functioning air coolers.

ABOUT SYMPHONY 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. In the last 5 years, company has managed strong CAGR of 34% in sales and 30% in net profit.