Slide 1: Exchange filing cover letter
August 13, 2021 To, National Stock Exchange of India Limited BSE Limited Symbol – Symphony Security Code – 517385 Sub.: Investor Presentation – Updates Dear Sir, This is in reference to the above-mentioned subject line; we are enclosing herewith updated Investor Presentation. The same is also availa
Slide 2: Corporate Presentation 2021
CORPORATE PRESENTATION 2021 SLIDE 1
Slide 3: Management Comments
Management Comments SLIDE 2
Slide 4: Management View on Performance & Outlook: Actual Performance
Management View on Performance & Outlook Actual Performance: FY21 and Q1FY22 performance were impacted on account of the Covid-19. A second wave of Covid-19 struck during 2021 summer; coupled with lockdown in the summer of 2020 – both, the peak season for air cooler sales to customers. Until m
Slide 5: Management View on Performance & Outlook: Outlook
Management View on Performance & Outlook Outlook : We are confident to achieve better performance in FY22 vis-à-vis FY21 on account of: Variety of initiatives already undertaken by the management Estimated sharp increase in exports The Management expects gross margin on domestic sales for FY
Slide 6: Symphony Ltd – Global Leader
Symphony Ltd – Global Leader
Slide 7: Symphony India – Global Leader
Symphony India – Global Leader Sales through local subsidiaries Direct exports Mexico 60+ countries Australia Dedicated international business team Global distribution network USA Brazil China Symphony India up for global supplies and Make in India ATMA-NIRBHAR BHARAT (self-susta
Slide 8: Symphony India – Strengths as a Global Leader
Symphony India – Strengths as a Global Leader Wide range of Asset Light & coolers for all applications Management working capital with 3 decade of light business experience in air model cooler Symphony India Strong Global Strong R&D team Brand and facility Low cost of manufacturing in India SLIDE 7
Slide 9: Portfolio of Global Brands
Portfolio of Global Brands SLIDE 8
Slide 10: Financials
Financials SLIDE 9
Slide 11: Financials (Yearly)
Financials (Yearly) ₹ Cr Consolidated Standalone Particulars FY2021 FY2020 FY2019 FY2021 FY2020 FY2019 Gross Revenue 931 1157 883 524 763 557 EBIDTA (excl. exceptional item) 170 266 171 152 248 168 PAT 107 182 91 112 186 101 Margins (%) Gross margin 45 47 46 48 50 50 EBIDTA margin # 18 23 19 29 33 3
Slide 12: Consolidated Financials (₹ Cr)
Consolidated Financials (₹ Cr) Consolidated Revenues Consolidated EBITDA Consolidated PAT 1,157 273 266 193 242 182 883 158 166 852 209 808 171 621 91 FY16* FY17 FY18 FY19 FY20 FY16* FY17 FY18 FY19 FY20 FY16* FY17 FY18 FY19 FY20 * FY16 data is annualized for better comparison SLIDE 11
Slide 13: Capital Employed & ROCE
Capital Employed & ROCE Standalone Capital Employed # & ROCE Consolidated Capital Employed # & ROCE (Core Business) (Core Business) 54 Infinite 50 300 282 180% 150000% 45 160% 44 250 226 140% 100000% 34 197 200 120% 24 50000% 104% 100% 150 14 80% 292% 237% 0% 100 60% 4 57% 41% 40% -50000% -6 50 -16
Slide 14: Dividend Payout and Treasury
Dividend Payout and Treasury Cumulative PAT and Dividend Payout Treasury # (₹ Cr) (₹ Cr) 739 494 503 408 337 45.6% Last 5 years Consolidated Last 5 years Dividend FY19 FY20 FY21 PAT Payout* *Including Dividend Distribution Tax till FY20. # Excluding loans & investment in subsidiaries SLIDE 13
Slide 15: Symphony Ltd – India
Symphony Ltd – India
Slide 16: Symphony India – Wide Household air cooler range
Symphony India – Wide Household air cooler range SLIDE 15
Slide 17: New Launch
New Launch DiET3- Pop-up Touchscreen Easy-to-use touchscreen control panel that pops up 3D Cooling 3-side cooling pads for superior cooling experience Magnetic remote Sticks on the cooler body
Slide 18: New Launch
New Launch New SUNO) ‘Easy-Fill’ for hassle-free i-Pure console with water filling multistage air purification filters Specially designed High efficiency honeycomb +Air fan for more air pads for superior cooling
Slide 19: New Launch
Od000 Powerful air throw Cool flow dispenser High efficiency honeycomb pads for superior cooling i-Pure technology Large 27L water-tank capacity New Launch Hi Flo
Slide 20: New Launch
Sympheny Refreshing Lives nf Tim | > Cooling Fan from the house of Symphony
Slide 21: New Launch
New Launch Cooling Fan Series Currently available exclusively on e-commerce platforms, Symphony Duet is a personal cooling fan that boasts dual functionality of a fan and a cooler. It is available in two variants: Pedestal & Table. Detachable pedestal for dual usage - on the table or floor-standing
Slide 22: Business model
Business model 01 02 03 Positioning Design-driven Brand-focused Focused on offering cutting-edge Best-in-class design, a significant The world and India’s leading cooling technology advantage over competitors air-cooler brand Progressively product-agnostic Next generation coolers with 16 robust sub-
Slide 23: Household coolers: A long runway
Household coolers: A long runway Air-cooler growth Unorganized volume (2010-2020) market share AC: 6 Industry Symphony Organized Unorganized Air-coolers: 14 10 2 mn 25% No fans: 11 15 6 mn 75% Fans: 89 0 5 10 15 20 25 30 35 40 45 Cooling pyramid (HH in %) Shift to organized sector Source: IRS Source
Slide 24: Industrial and Commercial air coolers
Industrial and Commercial air coolers SLIDE 23
Slide 25: Industrial and commercial air coolers (Latest launches)
Industrial and commercial air coolers (Latest launches) Universal air Four-side high Powerful air throw Robust weather- cooler – top and efficiency resistant body bottom discharge in honeycomb pads the same cooler SLIDE 24
Slide 26: Launched a range of accessories
Launched a range of accessories For easy and quick installation of industrial air coolers Modular duct Front grill with auto Mouthpiece Elbow louvers Variable Speed Controller Controller for PAC20 Wall mounting metal stand Metal Trolley SLIDE 25
Slide 27: Industrial air cooling: Enterprise customers
Industrial air cooling: Enterprise customers Working with esteemed brands SLIDE 26
Slide 28: Industrial air cooling: Installations
Industrial air cooling: Installations BOSCH, BENGALURU HERO SHOWROOM, CHHATTISGARH RK MARBLES, RAJASTHAN KENT RO, NOIDA SLIDE 27
Slide 29: Industrial air cooling: Installations
Industrial air cooling: Installations RENAULT FACTORY, MOROCCO F&B INDUSTRY, NIGERIA JD.COM WAREHOUSE, CHINA GASPER MASS STADIUM, MEXICO SLIDE 28
Slide 30: Overseas subsidiaries
Overseas subsidiaries SLIDE 29
Slide 31: Climate Technologies Pty. Ltd. (CT), Australia
Climate Technologies Pty. Ltd. (CT), Australia SLIDE 30
Slide 32: Range of Products
Range of Products Household cooler Commercial cooler Rooftop Cooler Window air cooler Air conditioner Ducted heating unit SLIDE 31
Slide 33: New launches
New launches Roof mounted air coolers EAC 2 cabinet sizes, Reduce 10 SKUs of existing range. Low height, Sits snug on the roof. Installation compatible with all existing products. 3 different colours to match roof colours SLIDE 32
Slide 34: New launches
New launches Household air coolers All in one including, ventilation, humidification and purification. Full function remote with 7.5 hours timer Fully closeable horizontal louvers 3 wind speeds with auto vertical louver swing Two air delivery modes High Efficiency Cooling Pads Dust fil
Slide 35: Australia: Market size and market share
Australia : Market size and market share Australia - ~ ₹ 900 cr * • CT is being converted into asset light business model 28% • CT’s some products outsourcing commenced from India. • CT will ultimately be a distribution arm for Symphony’s household 72% products. • Improvement in margins on account o
Slide 36: USA: Market size and market share
USA: Market size and market share USA - ~ ₹ 2,100 cr 5% • Bonaire USA (BUSA) is a popular brand with presence in The Home Depot, Lowe’s and Amazon • Symphony India started exporting household coolers (₹ 20 Cr. in FY 20-21) to USA 95% CT & BUSA Others SLIDE 35
Slide 37: Financials - Symphony Australia
Financials - Symphony Australia* ₹ Cr Particulars FY2021 FY2020 FY2019 (9M) Revenue 337 287 206 EBITDA 14.6 18.6 (6.4) PBT # 2.2 7.7 (9.4) PAT 0.7 6.4 (14.4) Cash Profit # 4.9 11.6 (4.3) Margins (%) Gross margin 36.2 41.7 37.4 EBITDA margin 4.3 6.5 (3.1) PAT margin 0.2 2.2 (7.0) # Excluding interest
Slide 38: Revenue Breakup
Revenue Breakup FY 2020-21 FY 2019-20 1% 1% 17% 26% 73% 82% Sales in Australia Sales in USA Other Exports Sales in Australia Sales in USA Other Exports SLIDE 37
Slide 39: Impco S.De R.L. de C.V. (IMPCO), Mexico
Impco S.De R.L. de C.V. (IMPCO), Mexico SLIDE 38
Slide 40: Last 12 years (cumulative)
Last 12 years (cumulative) ~ ₹879 cr ~ ₹178 cr ~ ₹116 cr ₹3.5 cr Access to Sales India export to PAT (India + Equity Industrial IMPCO IMPCO) investment air coolers Profit by Symphony India on exports of coolers to Impco (Approx. ₹ Cr) FY2021 FY2020 FY2019 Profit 3 10 7 SLIDE 39
Slide 41: Industrial air coolers sourced from GSK, China
Industrial air coolers sourced from GSK, China SLIDE 40
Slide 42: New launches: Window air coolers
New launches Window air coolers R28SW R38W New Control Panel Design New Control Panel Design Rust free plastic side panels Rust free plastic side panels Float valve for uninterrupted cooling Float valve for uninterrupted cooling High efficiency cooling pads High efficiency cooling pa
Slide 43: New launches: HT Series air coolers
New launches HT Series air coolers SHT Movil SHTMovilXL Weatherproof engineering plastic Weatherproof engineering plastic High efficiency cooling pads High efficiency cooling pads Easy cleanable water tank Easy cleanable water tank Free installation kit Large water tank capacity Fu
Slide 44: Revenue break-up
Revenue break-up Market size ~ ₹ 350 cr * Revenue break-up 14% 19% 28% 3% 48% 11% 14% 12% 15% 21% 15% Household portable coolers Household ducted coolers IMPCO Econoclima Frikko Aspix/Coppel Lenomex Others Window coolers Industrial coolers * Based on FY 2019-20 Others • Symphony India exports large
Slide 45: Financials
Financials ₹ Cr Particulars FY2021 FY2020 FY2019 Revenue 75 100 92 EBITDA after exceptional item (0.1)* 6.2 7.5 PAT 1.9 2.9 6.5 Cash Profit (2.5) 4.1 7.5 Margins (%) Gross margin 37.9 30.4 33.5 EBITDA margin (0.1) 6.2 8.2 PAT margin 2.5 2.9 7.1 * After Provision for doubtful debt of ₹ 7.2 Cr SLIDE 4
Slide 46: Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China
Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China SLIDE 45
Slide 47: Household air coolers: New Launches
Household air coolers New Launches CROWN i CROWN-M All in one including, ventilation, humidification and purification. All in one including, ventilation, humidification and purification. 3-side high efficiency cooling pads 3-side high efficiency cooling pads Full function remote with 7.5-h
Slide 48: Industrial air coolers, Commercial air coolers
Industrial air coolers Commercial air coolers SLIDE 47
Slide 49: Market size
Market size Domestic market size ~ ₹ 3,500 cr * 15% 7% 77% Cooler market – highly fragmented Domestic market share ~ 1.2% Household cooler Commercial cooler Industrial cooler * Based on FY 2019-20 SLIDE 48
Slide 50: Revenue break-up
Revenue break-up Revenue break-up (product segment) Revenue break-up (region segment) 10% 20% 43% 57% 70% Household and commercial cooler Industrial cooler Domestic market Export market Spares SLIDE 49
Slide 51: Financials
Financials ₹ Cr Particulars FY2021 FY2020 FY2019 Revenue 39 42 58 EBITDA (3.1) (3.1) 1.4 PAT (8.6) (7.7) (1.6) Cash Profit (6.8) (6.2) 0.2 Margins (%) Gross margin 35.4 35.7 36.3 EBITDA margin (7.8) (7.3) 2.4 SLIDE 50
Slide 52: Disclaimer: Safe Harbour Statement
Disclaimer Safe Harbour Statement This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectat
Slide 53: www.symphonylimited.com
www.symphonylimited.com MEXICO CHINA AUSTRALIA USA Impco S de R L de C V Guangdong Symphony Climate Technologies Bonaire USA LLC Keruilai Air Coolers Co. Ltd. Pty. Ltd. AYAX 611, Parque Taiying Industrial Area, 26 Nylex Avenue 3774, West Cheyenne Industrial Kalos Hongmei Town, 523160 Salisubury Sout