Symphony Limited — Earnings Release 2024

Aug 6, 2024

August 06, 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 - Q1FY25 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: 2024.08.06 14:24:42 +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 (Q1FY25 Results)

Financial Highlights:

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(₹ Crores)
Consolidated Standalone
Quarter Quarter YoY Quarter Quarter YoY
Particulars
ended ended Growth ended June ended Growth
June 2024 June 2023 (%) 2024 June 2023 (%)
Revenue from Operations 531 302 +76% 373 172 +116%
Gross Margin (%) 51.2% 49.7% +150 bps 52.8% 51.5% +130 bps
EBITDA Margin % 21.0% 9.3% +1170 bps 22.0% 4.2% +1780 bps
(Excluding Other Income
and Foreign Exchange Loss)
Profit After Tax 88 24 +270% 69 14 +375%
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Shareholders’ Payout: Buyback (₹ 2,500 / share): ₹ 89.56 Cr. incl. buyback tax + incidental exp. & 1st Interim Dividend (₹ 1 / share): ₹ 6.90 Cr. aggregating ₹ 96.46 Cr. (109 % of Consol. PAT)

Symphony is pleased to launch:

• For the first time at time, 17 pathbreaking models of Air coolers to have excellence in performance, premium models with tranquillity (calm & very low noise), superior aesthetics and strengths etc.

• 9 models of storage water heaters with unique features like AI enabled remote controller, Puropod cartridge (prevents hair fall & good for shine) with superior aesthetics.

August 06, 2024: Mr. Nrupesh Shah, Managing Director (Corporate Affairs), Symphony Limited has commented:

“ Performance Highlights for quarter ended on June 30, 2024:

1. Strong Jun’24 standalone performance driven by:

• Scorching and crippling heatwave

• Strong penetration in semi-urban and rural markets

• D2C: A growth driver; 100% prepaid (No COD)

2. Highest ever quarterly Revenue & PAT (Standalone and Consol.):

• Growth in domestic sales 117% YoY (Jun’23) & 58 % v/s historical best any quarter

3. Improvement in EBITDA margin:

• Gross margin expansion

• Positive operating leverage

• Strong performance of IMPCO Mexico and GSK China

4. IMPCO, Mexico:

• Robust YoY growth: Revenue 46%, EBITDA 36% & PAT 77%

• Highest ever quarterly Revenue, EBITDA, and PAT

5. CT, Australia:

• Demand headwind persists

• Business transformation progressing as planned

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6. GSK, China:

• Strong positive top-line and bottom-line performance

Outlook:

1. Poised for growth:

• Intensified heatwave and climate change

• Below normal trade inventory in India, Mexico, & Brazil

• Path-breaking and industry-leading innovative products

• Increasing focus on sustainable and eco-friendly products

• Geography specific products in India and overseas subsidiaries incl. washing machine in Mexico

• Thrust on semi-urban and rural markets, and adjacent product categories

2. Leveraging complementary strengths of international business:

• Outsourced manufacturing to India and China (Shift from CT Australia and IMPCO Mexico)

• Complementary Research & Development, Sales, and Marketing”

ABOUT SYMPONY LIMITED:

Symphony, 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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