Slide 1: Earnings Call Presentation (9M & Q3 FY23)
EARNINGS CALL PRESENTATION (9M & Q3 FY23) February 2023
Slide 2: Disclaimer
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 3: Million air coolers sold worldwide
\. MILLION AIR COOLERS SOLD WORLDWIDE
Slide 4: Launching High-tech BLDC Air Cooler Range
Launching High-tech BLDC Air Cooler Range (Globally first time in Air Cooler) 4
Slide 5: Contents
Contents 1 Performance Highlights 2 Reward to shareholders 3 Financials (9M FY23 & Q3 FY23) 4 Outlook 5
Slide 6: Performance Highlights
Performance Highlights
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
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
Slide 9: Reward to shareholders
Reward to shareholders
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
Slide 11: 9M FY23 – Standalone Financials
9M FY23 – Standalone Financials
Slide 12: 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
Slide 13: 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 13 *
Slide 14: Q3 FY23 – Standalone Financials
Q3 FY23 – Standalone Financials
Slide 15: 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 15 *EBI
Slide 16: Standalone: EBITDA Margin Movement – Q3 FY23
Standalone : EBITDA Margin Movement – Q3 FY23 16
Slide 17: 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 17
Slide 18: 9M FY23 – Consolidated Financials
9M FY23 – Consolidated Financials
Slide 19: 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
Slide 20: 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 20
Slide 21: Q3 FY23 – Consolidated Financials
Q3 FY23 – Consolidated Financials
Slide 22: 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 22 *E
Slide 23: Consolidated: EBITDA Margin Movement – Q3 FY23
Consolidated : EBITDA Margin Movement – Q3 FY23 23
Slide 24: 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% 24
Slide 25: Outlook
Outlook
Slide 26: 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
Slide 27: 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
Slide 28: 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,