Slide 1: Exchange filing cover letter - Investor Presentation Updates
A. February 8, 2020 To, BSE Limited National Stock Exchange of India Limited Security Code - 517385 Symbol - SYMPHONY Sub.: Investor Presentation — Updates Dear Sir, This is in reference with the above mentioned subject line, we are enclosing herewith updated Investor Presentation. The same is also
Slide 2: Corporate Presentation 2020
CORPORATE PRESENTATION 2020 SLIDE 1
Slide 3: Air cooling simplified
Water distributor Cool filtered air Air cooling simplified Hot dry air Fan Evaporative media Water reservoir SLIDE 2
Slide 4: Comparison between air cooling appliances
Comparison between air cooling appliances Parameters Fans Air coolers Air-conditioners Capital cost Low Low High Recurring cost Low 90% lower than ACs Very high Indoor air quality Circulates same air 100%-fresh filtered cool air Recirculates stale dry air Refrigerants No Water Ozone layer-depleting
Slide 5: Symphony Limited - India
The picture can't be displayed. Symphony Limited - India SLIDE 4
Slide 6: Symphony HO - Ahmedabad
Symphony HO - Ahmedabad SLIDE 5
Slide 7: Product range – Household air coolers
Product range – Household air coolers SLIDE 6
Slide 8: Product range – Commercial air coolers
Product range – Commercial air coolers SLIDE 7
Slide 9: Product range – Industrial air coolers
Product range – Industrial air coolers SLIDE 8
Slide 10: Key Firsts
Key Firsts 1989 World’s first Plastic body air cooler SLIDE 9
Slide 11: Key Firsts - Formats
Key Firsts - Formats 2009 2012 2016 2017 Introduced Introduced Introduced Introduced Tower Format Air Tower Format Desert Air Wall Mounted Air Cooler Touch range with 4-side Cooler Cooler removable pads and double blower SLIDE 10
Slide 12: Key Firsts - Features
Key Firsts - Features 1994 2007 2016 Remote control Power Saver Technology i-Pure – Multistage Air Purification 2016 2016 2016 2017 Magic Fill for automatic Voice Assist Digital Touchscreen Gesture Control water filling SLIDE 11
Slide 13: Milestones
1988 1995 – 2000 Milestones Symphony established with one 1994 Listed on stock Diversified into ACs, washing machines Pre-2000s Many products – One exchanges market air cooler model and other durables 2002 – 2007 Post-2005s 2009 – 2011 2011 2012 Introduced central air Recognition from the Financial
Slide 14: 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 15: Growth Drivers
Growth Drivers 01 02 03 Short-term Medium-term Long-term growth driver growth driver growth driver Domestic market for Export market for Industrial coolers (IC) and household coolers (HC) household coolers commercial coolers (CC) SLIDE 14
Slide 16: Sectoral entry barriers
Sectoral entry barriers Leader in Leader in Leader in brand and Leader in distribution terms of category management and after sales innovation status service Technology, design, Focused approach Entrenched Serving ~ 19,000 quality, features experience pin codes and performance (what to do and what n
Slide 17: Organogram
Organogram Board of Directors Chairman & Managing Director Executive Director - Corporate Affairs CEO - India CEO – International CFO - Global Subsidiaries CEO – GM – CEO – IMPCO, Mexico GSK, China CT, Australia SLIDE 16
Slide 18: Corporate governance and beyond
Corporate governance and beyond Corporate philosophy is highest level of corporate governance, much beyond statutory compliances High level of transparency and accountability Investor friendly with adequate minority protection policies Strict adherence to Accounting Standards and Policies
Slide 19: At a glance
At a glance 11 5 50+ 23 50 Manufacturing Different Household cool- C&F depots Branches facilities including product ranges er models + wide SEZ range of Industrial and Commercial coolers 275+ 1000+ 30000+ 1000+ 11 Field sales & Distributors Dealers across Authorised Robust IT service staff 5000+ tow
Slide 20: Market Potential - India
The picture can't be displayed. Market Potential - India SLIDE 19
Slide 21: Industrial air cooling solutions – long runway
Industrial air cooling solutions – long runway Opportunity and size Factories Universities Warehouses Lecture halls The industrial air-conditioning Shops and showrooms Service stations market in India is estimated to be Religious institutions Offices worth ~ ₹ 10,000 Cr Club houses Poultry and dairy
Slide 22: Industrial air cooling solutions – facts & figures
Industrial air cooling solutions – facts & figures “90% of American firms named cool air as the single biggest factor determining their productivity.” “Cooling raised productivity by a quarter. On factory floors it cut absenteeism and stoppages.” (Source: The Economist, Page 41, January 2013 issue)
Slide 23: Industrial air cooling: Enterprise customers
Industrial air cooling: Enterprise customers Working with esteemed brands SLIDE 22
Slide 24: Industrial air cooling: Installations
Industrial air cooling: Installations KENT RO, NOIDA VOLTAS AC, RUDRAPUR CHOKHI DHANI, JAIPUR BAJAJ AUTO SHOWROOM, SURAT SLIDE 23
Slide 25: Industrial air cooling: Global installations
Industrial air cooling: Global installations JD.COM WAREHOUSE, CHINA AMPHITHEATRE, DUBAI GASPER MASS STADIUM, MEXICO TEXTILE FACTORY, VIETNAM SLIDE 24
Slide 26: Overseas subsidiaries
The picture can't be displayed. Overseas subsidiaries SLIDE 25
Slide 27: Impco S.De R.L. de C.V. (IMPCO), Mexico
Impco S.De R.L. de C.V. (IMPCO), Mexico SLIDE 26
Slide 28: Organogram
Organogram Juan Bendeck General Director Patricio Mejia Javier Reza Hortencia Martinez Guadalupe Villa Arturo Silva Industrial Sales Residential Sales Marketing Manager HR Manager Finance Manager Director Director Supported by 75+ members strong team SLIDE 27
Slide 29: Milestones
Milestones 1930s 1940 1950 1961 1990s Adam Goettl starts IMPCO became a 1955: The first portable Created Master IMPCO market leader in International Metal cooler was Cool in USA, the new – first company in evaporative air- Products Company introduced evaporative air cooler the world dedicated cooler
Slide 30: Industrial air coolers sourced from GSK, China
Industrial air coolers sourced from GSK, China Window air coolers range SLIDE 29
Slide 31: Distribution method
Distribution method Strong distribution network in Mexico, USA, Central America and parts of South America Strong presence in leading retail chains like Walmart, Sears, Home Depot, Costco etc. SLIDE 30
Slide 32: Growth drivers
Growth drivers Value Enhance Innovation engineering distribution SLIDE 31
Slide 33: Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China
Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China SLIDE 32
Slide 34: Organogram
Organogram David Liu General Manager Xu Yang Michael Gong Kitty Zong Jack Wang Rose Xu Peter Zheng Operations Domestic Sales International R&D Manager HR Manager Finance Manager Manager Director Sales Director Supported by 100+ members strong team SLIDE 33
Slide 35: Milestones
Milestones 2001 2011 2013 2002 Keruilal was established Keruilai was acquired by Appointed Deputy The first evaporative as China’s first air-cooler Munters, Sweden Director of China air-cooler brand in China brand based MNC Refrigeration and Air to meet the technology Conditioning Industry evaluatio
Slide 36: Household air coolers
Household air coolers SLIDE 35
Slide 37: Industrial air coolers, Commercial air coolers
Industrial air coolers Commercial air coolers SLIDE 36
Slide 38: Opportunities
Opportunities Cutting-edge Internationally- Access to R&D expertise recognized Chinese Chinese air cooler market brand Inherent Sourcing China’s FTA with synergy advantage ASEAN countries SLIDE 37
Slide 39: Growth Drivers
Growth Drivers Innovation Increasing sales New projects – through online Industrial cooler platform segment Margin improvement: Value engineering & cost Increasing touch points control – Modern retail Synergies in production, sales and R&D SLIDE 38
Slide 40: Climate Technologies Pty. Ltd. (CT), Australia
Climate Technologies Pty. Ltd. (CT), Australia SLIDE 39
Slide 41: Organogram
Organogram Tim O’leary Chief Executive Officer Corry Higgins Shane Austin David Aird Patrick Larven George Wallwork Jason Dorsey National Sales General Manager Chief Financial National GM Aftermarket & R&D Manager Manager Operations Officer HR Manager Refrigeration Supported by 80+ members strong te
Slide 42: Milestones
Milestones 1972 1998 2005 2008 2011 Ted Celi CT purchase CT started Introduced new 5- CT purchases the commences Celair Bonaire business exporting coolers star rated ducted Bradflo commercial operations (established in 1954) to the US gas heating range ducted and fittings business 2012 2015 2016 201
Slide 43: Range of products
Range of products Residential cooler Commercial cooler Ducted heating unit Window air cooler Air conditioner Chilled beam SLIDE 42
Slide 44: Brands
3.0 Brands = BONAIRE CELAIR The leaders in heating and cooling ilec appliances ECHNOLOGIES SLIDE 43
Slide 45: Growth Drivers - Australia
Growth Drivers - Australia Access to portable Potential to strengthen coolers market with market presence with Symphony coolers, expanded product through retail chain range stores Margin improvement: Potential of growth in Value engineering and Housing sector, leading cost control to growth of heate
Slide 46: Growth Drivers - USA
Growth Drivers - USA Bonaire USA (BUSA) Big market for air becoming popular brand coolers in USA with presence in The Home Depot, Lowe’s and Amazon BUSA, a recent entrant Rapid growth of BUSA in US, had fast growth with expanded product in past 2 years, and has basket very high potential SLIDE 45
Slide 47: Portfolio of Global Brands
Portfolio of Global Brands SLIDE 46
Slide 48: Financials
The picture can't be displayed. Financials SLIDE 47
Slide 49: Revenue break-up, 2018-19
Revenue break-up, 2018-19 (Consolidated) Gross revenue ₹ 883 cr India: 57% Rest of World: 43% ₹ 499 cr ₹ 384 cr Air-coolers: 93% Others: 7% ₹ 465 cr ₹ 34 cr EBIT (₹ Cr) (Standalone) Capital Employed# (₹ Cr) (Standalone) ROCE (%) (Standalone) Air Coolers Corporate Funds Air Coolers Corporate Funds Ai
Slide 50: Profit & loss statement and segment reporting
Profit & loss statement and segment reporting Profit and Loss Statement ₹ cr Segmental ₹ cr Consolidated Standalone Segmental Consolidated Standalone Particulars (₹ Cr.) Revenue (₹ Cr.) FY16* FY17 FY18 FY19 FY18 FY19 FY16* FY17 FY18 FY19 FY18 FY19 India 471.1 596.9 622.2 466.8 621.3 466.6 Revenue fr
Slide 51: Financials: Statement of profit & loss
Financials: Statement of profit & loss (Consolidated) Financials: Statement of Profit & Loss Gross revenue Profit after tax PBT % (₹ crore) (₹ crore) (of gross revenue) 31.5 31.1 883 28.8 29.1 852 26.9 808 25.1 193 625 166 158 560 18.7 503 116 106 364 91 60 2013 2014 2015 2016* 2017 2018 2019 2013 2
Slide 52: Financials – Balance sheet
Financials – Balance sheet (Consolidated) Financials: Balance Sheet Shareholders fund Capital employed Capital employed Debt (₹ crore) Air coolers (₹ crore) Corporate funds (₹ crore) (₹ crore) 481 669 612 422 190 189 173 465 292 138 246 328 306 276 195 180 83 81 222 188 139 60 19 26 0 0 0 0 2013 201
Slide 53: Financials: Shareholder value creation
Financials: Shareholder value creation (Consolidated) Financials: Shareholder value creation EBIDTA margin Dividend payout Dividend payout Book value@ % (₹ crore) % (₹) 32.1 31.0 29.7 29.9 105.3 88.9 27.7 26.2 95.7 87.4 20.2 66.5 58.9 50.3 50.8 53.2 44.3 41.5 46.9 43.8 39.4 37.9 38.0 31.6 31.8 26.6
Slide 54: Disclaimer
Disclaimer 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 expectations or projections abo
Slide 55: www.symphonylimited.com
www.symphonylimited.com AUSTRALIA MEXICO CHINA USA Climate Technologies Impco S de R L de C V Guangdong Symphony Bonaire USA LLC Pty. Ltd. Keruilai Air Coolers Co. Ltd. 26 Nylex Avenue AYAX 611, Parque Taiying Industrial Area, 470 Mirror CT Suite 101 Salisubury South SA Industrial Kalos Hongmei Town