Company has recommended bonus issue of one equity share for each equity share held
Financial Highlights (Rs. crore)
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Particulars
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Quarter ended June 2016
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Quarter ended June 2015
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Growth (%)
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Sales
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152.15
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110.49
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38%
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Net Profit
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31.14
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22.26
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40%
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EPS (Rs)
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8.90
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6.36
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40%
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India July 26, 2016: World’s largest air cooler company, Symphony Limited, reported net profit at Rs.31.14 crore for the quarter ended June 2016 as against Rs. 22.26 crore in the corresponding quarter ended June 2015, showing a substantial increase of 40%.
Sales Rs. 152.15 crore for the quarter ended June 2016 as against Rs. 110.49 crore in the corresponding quarter ended June 2015. EPS for the quarter ended June 2016 stood at Rs. 8.90 as against Rs. 6.36 in the corresponding quarter ended June 2015.
The Board of directors in their meeting held on July 26, 2016 has considered, approved and recommended a bonus issue of one equity share for every equity share (1:1) held as on a record date to be determined. The bonus issue of equity shares will be subject to approval by the shareholders and any other applicable statutory and regulatory approvals.
The Company has declared 1st interim dividend of 75% i.e. Rs. 1.50/- per equity share of Rs. 2/- each amounting to Rs. 631.49 lacs including dividend distribution tax.
Commenting on the financial performance of the company, Mr. Nrupesh Shah, Executive Director of Symphony Ltd. said:
Ø We are witnessing buoyant demand across the geographies and across the models.
Ø The sustained growth is on account of strong performance across all business verticals.
Ø EBITDA margin on Gross Revenue stood at 28% in quarter ended June 2016 as against 25% in quarter ended June 2015.
Ø PAT % on Gross Revenue stood at 20% in quarter ended June 2016 as against 19% in quarter ended June 2015.
ABOUT SYMPONY LIMITED (www.symphonylimited.com):
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 year (Nine Months period) ended March 2016, Symphony posted on consolidated basis net profit of Rs 118.37 crore on net sales of Rs 444.36 crore.