Symphony Limited — Earnings Release 2025

Oct 29, 2024

October 29, 2024

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To, National Stock Exchange of India Limited Symbol – Symphony

To,

BSE Limited Security Code – 517385

Sub.: Media Release

Dear Sir / Madam,

This is in reference to the above captioned subject line and in continuation with our today’s announcement, we are enclosing herewith media release titled “Media Release (Q2FY25 Results)”.

Kindly consider this in due Compliance of Regulation 30 and other applicable provisions, if any of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kindly take note of the same and oblige.

Thanking you,

Yours Truly, For, Symphony Limited MAYUR C. Digitally signed by MAYUR C. BARVADIYA BARVADIYA Date: 2024.10.29 12:39:11 +05'30'

Mayur Barvadiya Company Secretary and Head - Legal

Encl: as above

Registered Office: Symphony Limited, “Symphony House”, Third Floor, FP-12, TP-50, Off S.G. Highway, Bodakdev, Ahmedabad -380 059, India T: +91-79-66211111, F: +91-79-66211139-40 l Email – companysecretary@symphonylimited.com I www.symphonylimited.com CIN - L32201GJ1988PLC010331

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Media Release (Q2FY25 Results)

Financial Highlights:

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----- Start of picture text ----- (₹ Crores)Standalone ConsolidatedQuarter Quarter Quarter QuarterYoY YoYParticulars ended ended ended endedGrowth GrowthSeptember September September September(%) (%)2024 2023 2024 2023Revenue from Operations 259 196 +32% 315 275 +15%Gross Margin (%) 49.5% 49.9% -40 bps 49.4% 46.1% +330 bpsEBITDA Margin % (Excluding 27.8% 26.8% +100 bps 20.3% 15.5% +480 bpsOther Income and ForeignExchange Loss)Profit After Tax 67 50 +36% 56 35 +61%----- End of picture text -----

2[nd] Interim Dividend: ₹ 2/- per share (FV: ₹ 2/-) for FY25

• Shareholders’ payout in 6-months ending Sep’24: ₹ 110.2 cr. (77% of Consol. Profit)

  • Buyback (incl. taxes and exp.): ₹ 89.6 cr.

  • 1[st] Interim Dividend: ₹ 6.9 cr.

  • 2[nd] Interim Dividend: ₹ 13.7 cr.

October 29, 2024: Mr. Nrupesh Shah, Managing Director (Corporate Affairs), Symphony Limited has commented:

1. We are delighted to report our highest ever Revenue and EBITDA on a Standalone and Consolidated basis, and PAT on a Standalone basis for the September quarter. This achievement is a testament to our strong brand, diverse product portfolio, and robust market presence.

2. The launch of 17 new air-cooler models has significantly bolstered our market position. Additionally, a record-breaking General Trade advance collection, aided by normal season-end inventory levels and buoyant trade sentiment, further underscores our success.

3. Despite off-season conditions, we have witnessed robust secondary sales, reflecting the resilience and appeal of our offerings.

4. The improvement in Consolidated EBITDA margin is driven by the stellar performance of Symphony India, GSK China, and Symphony Brazil, along with gross margin expansion and positive operating leverage.

5. Moreover, our foray into the water heater market in India has made a promising start, focusing on selected geographies and leveraging chosen distribution channels. We have captured the attention and admiration of both trade partners and customers.

6. Amidst growth in both revenue and profitability, our Company continues to demonstrate efficient capital utilization, as evident in the reduced capital employed in our core business, both on a standalone basis (negative ₹ 171 cr. v/s negative ₹ 70 cr. last year) and a consolidated basis (₹ 114 cr. v/s ₹ 174

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cr. last year). As a result, we have observed a marked improvement in the ROCE for our core business. On a standalone basis, ROCE increased to an infinite percentage from 296% last year, and on a consolidated basis, it rose to 93% from 37%, calculated on TTM monthly average capital employed, underscoring the efficacy of our business model in optimizing capital efficiency and driving growth.

7. The United Nation Environment Programme (UNEP) Emission Gap Report 2024 indicates a concerning trajectory towards a 3.1°C global temperature rise, highlighting a lack of significant progress in climate action despite persistent calls for urgent measures. In response, our company is leading the industry with innovative products that emphasize sustainability and eco-friendliness.

8. We are expanding our portfolio with geography-specific products in India and our overseas subsidiaries.

9. Our strategic focus on semi-urban and rural markets, as well as adjacent product categories, is designed to meet the needs of these emerging segments.

ABOUT SYMPONY LIMITED:

Symphony Limited, an Indian Multi-National Company with presence in over 60 countries is the world’s largest air cooler company. From inventions to innovations, energy responsibility to environment stewardship, Symphony is a market leader which has been providing comfort cooling to its customers for generations. The massive supremacy of Symphony coolers in the residential, industrial and commercial segments has made the brand synonymous with ‘cooling’.

Founded in 1988, in Gujarat, India, Symphony Limited established a new category of evaporative air-cooling in India, taking it to the globe. As a disruptor of a highly unorganized sector, the company has set high benchmarks by defining the golden standard of air cooling. At Symphony, research and development and engineering technology provide sustainable competitive advantages. The company delivers market-leading products that comprise of design innovation, energy efficiency, distinctive styling, and customer-centricity.

As a pioneer in the air-cooling industry, Symphony develops breakthrough technologies to combat climate change. It provides solutions for affordable cooling and comfortable environments for maximum efficiency, productivity, and well-being. Symphony Limited is a publicly traded company delivering value to its stakeholders in the most profitable and effective way.

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