Symphony Limited · NSE:SYMPHONY

Symphony — Q3 FY23 Earnings Presentation

29 slides from Symphony's earnings presentation, February 2023

1. Slide 1: Earnings Call Presentation (9M & Q3 FY23)

   EARNINGS CALL PRESENTATION (9M & Q3 FY23) February 2023

2. Slide 2: Disclaimer

   Disclaimer Safe Harbor 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 expectati

3. Slide 3: Million Air Coolers Sold Worldwide

   \. MILLION AIR COOLERS SOLD WORLDWIDE

4. Slide 4: Launching High-tech BLDC Air Cooler Range

   Launching High-tech BLDC Air Cooler Range (Globally first time in Air Cooler) Constant performance independent of voltage variations Diet 3D 55B Diet 3D 30B Winter 80B *Under test conditions 4

5. Slide 5: Contents

   Contents 1 Performance Highlights 2 Reward to shareholders 3 Financials (9M FY23 & Q3 FY23) 4 Outlook 5

6. Slide 6: Performance Highlights

   Performance Highlights

7. Slide 7: Performance Highlights – 9M FY23

   Performance Highlights – 9M FY23 1 ▪ Highest ever Consolidated and Standalone sales vis-à-vis historical high ▪ Gross Margin improved on YoY basis 2 ▪ Standalone Gross Margin : 47.5% (+110 bps) ▪ Consolidated Gross Margin : 44.7% (+30 bps) ▪ EBITDA Margin improved on YoY basis 3 ▪ Standalone EBITDA

8. Slide 8: Performance Highlights – Q3 FY23

   Performance Highlights – Q3 FY23 1 ▪ Highest ever Standalone sales vis-à-vis historical high ▪ Robust off-season sales 2 ▪ Trade sentiment quite positive and buoyant ▪ Gross Margin on YoY basis 3 ▪ Standalone Gross Margin : 45.4% (+140 bps) ▪ Consolidated Gross Margin : 43.7% (-60 bps) ▪ EBITDA Marg

9. Slide 9: Reward to shareholders

   Reward to shareholders

10. Slide 10: Consistent reward to shareholders

    Consistent reward to shareholders Dividend Pay-out Proposed Share History Buyback* Proposed Pay-out 10 Years (Up to 31-Mar-22) 51% 10 Lacs ₹ 2,000/- ₹ 200 cr. No. of equity shares (upto) per share Proposed Buyback Amount* 1.43% ₹ 200 cr. 5 Years (up to 31-Mar-22) 53% of paid-up capital (upto) Buybac

11. Slide 11: Shareholder friendly change in Reward Policy

    Shareholder friendly change in “Reward Policy” Increased pay-out ratio ✓ Dividend upto ✓ Special Dividend 60% Quantum and ✓ Buyback manner of (instead of existing policy of up to 50%) payout / reward to be recommended by the Board of Directors* *Recommendation may be influenced by factors affecting

12. Slide 12: 9M FY23 – Standalone Financials

    9M FY23 – Standalone Financials

13. Slide 13: Sankey Chart Standalone Financials: 9M FY23

    Sankey Chart Standalone Financials : 9M FY23 PBT Other Income ₹ 160 cr. (▲81%) Gross Margin* ₹ 35 cr. (▲35%) 25% Margin ₹ 307 cr. (▲69%) PAT 48% Margin EBITDA ₹ 122 cr. (▲79%) ₹ 129 cr. (▲92%) 19% Margin 20% Margin Tax exp. Non-operating exp.^ ₹ 38 cr. ₹ 4 cr. (▼10%) Revenue from Employee benefit ex

14. Slide 14: Standalone Financials (₹ in Cr. & Margin %)

    Standalone Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 46.4% 47.5%  Margin 65% 646 69% 307 390 181 9M FY22 9M FY23 9M FY22 9M FY23 EBITDA Profit After Tax Margin → 17.2% (22.4%*) 19.9% (24.1%*) 17.4% 18.9%  Margin 92% 79% 129 122 67 68 9M FY22 9M FY23 9M FY22 9M FY23 14 *

15. Slide 15: Q3 FY23 – Standalone Financials

    Q3 FY23 – Standalone Financials

16. Slide 16: Standalone Financials (₹ in Cr. & Margin %)

    Standalone Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 44.0% 45.4%  Margin 52% 57% 223 146 101 64 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 EBITDA Profit After Tax Margin → 19.9% 23.2%  Margin 22.0% (25.9%*) 25.0% (29.2%*) 73% 78% 56 52 32 29 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 16 *EBI

17. Slide 17: Standalone: EBITDA Margin Movement – Q3 FY23

    Standalone : EBITDA Margin Movement – Q3 FY23 17

18. Slide 18: Standalone: Key Financial Metrics – Q3 FY23

    Standalone : Key Financial Metrics – Q3 FY23 Capital Employed PBIT% on Capital Employed (Monthly Average - Core Business) (Not Annualised - Core Business) ₹ (31) cr. Infinite Return on Net Worth Treasury (As on 31/12/2022) 20% ₹ 637 Cr. * Excluding loans/investments in subsidiaries 18

19. Slide 19: 9M FY23 – Consolidated Financials

    9M FY23 – Consolidated Financials

20. Slide 20: Sankey Chart Consolidated Financials: 9M FY23

    Sankey Chart Consolidated Financials : 9M FY23 PBT Other Income ₹ 129 cr. (▲65%) Gross Margin* ₹ 40 cr. (▲65%) 15% Margin ₹ 394 cr. (▲35%) PAT 45% Margin EBITDA ₹ 100 cr. (▲76%) ₹ 115 cr. (▲46%) 11% Margin 13% Margin Tax exp. Non-operating exp.^ ₹ 29 cr. ₹ 26 cr. (▲5%) Revenue from operations Employ

21. Slide 21: Consolidated Financials (₹ in Cr. & Margin %)

    Consolidated Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 44.4% 44.7%  Margin 880 35% 394 655 34% 291 9M FY22 9M FY23 9M FY22 9M FY23 EBITDA Profit After Tax Margin → 12.0% (15.2%*) 13.1% (16.9%*) 8.6% 11.3%  Margin 46% 76% 115 100 79 57 9M FY22 9M FY23 9M FY22 9M FY23 21

22. Slide 22: Q3 FY23 – Consolidated Financials

    Q3 FY23 – Consolidated Financials

23. Slide 23: Consolidated Financials (₹ in Cr. & Margin %)

    Consolidated Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 44.3% 43.7%  Margin 35% 277 33% 121 205 91 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 EBITDA Profit After Tax 14.4% (17.2%*) 15.8% (19.8%*) 10.2% 13.9%  Margin Margin → 48% 84% 44 39 30 21 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 23 *E

24. Slide 24: Consolidated: EBITDA Margin Movement – Q3 FY23

    Consolidated : EBITDA Margin Movement – Q3 FY23 24

25. Slide 25: Consolidated: Key Financial Metrics – Q3 FY23

    Consolidated : Key Financial Metrics – Q3 FY23 Capital Employed PBIT% on Capital Employed Return on Net Worth (Monthly Average – Core Business) (Not Annualised - Core Business) ₹ 235 Cr. 17% 20% 25

26. Slide 26: Outlook

    Outlook

27. Slide 27: Outlook

    Outlook 1 ▪ Decent visibility of consumer sales in the domestic market 2 ▪ Innovative value-added products, Price hike & Softening of input cost 3 ▪ Current global economic situation has led to demand headwinds especially in Australia and USA ▪ Optimizing product innovation and cost through 4 ▪ Leve

28. Slide 28: Glossary

    Glossary Gross Margin (%) : % of Revenue from operations A&P Expenses : Advertisement and Sales Promotion Expenses : Earnings Before Interest, Tax, Depreciation and Amortization EBITDA (Excludes other income) EBITDA Margin (%) : % of Revenue from operations PAT Margin (%) : % of Revenue from operati

29. Slide 29: www.symphonylimited.com

    www.symphonylimited.com MEXICO CHINA AUSTRALIA USA Brazil Impco S de R L de C V Guangdong Symphony Climate Technologies Bonaire USA LLC Symphony Keruilai Air Coolers Co. Ltd. Pty. Ltd. Climatizadores Ltda AYAX 611, Parque No. 3 Hongjin Road, 26 Nylex Avenue 3774, West Cheyenne Av Pedra Branca, 184,

Symphony — Q3 FY23 Earnings Presentation on 6ix