Symphony Limited · NSE:SYMPHONY

Symphony — Q1 FY2023 Earnings Presentation

24 slides from Symphony's earnings presentation, Jul 26, 2022

1. Slide 1: Earnings Presentation (Q1FY23)

   EARNINGS PRESENTATION (Q1FY23)

2. 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

3. Slide 3: Million air coolers sold worldwide

   \. MILLION AIR COOLERS SOLD WORLDWIDE

4. Slide 4: Contents

   Contents 1 Performance Highlights 2 Financials 3 Way Forward 4 Shareholders’ Profile 4

5. Slide 5: Performance Highlights

   \ympheny Refreshing Lives Performance Highlights

6. Slide 6: Performance Highlights – Q1FY23 (1/2)

   Performance Highlights – Q1FY23 (1/2)  Highest ever first quarter Standalone and Conso. sales in Q1FY23 1  Up by 30% and 13% resp. vis-à-vis resp. previous historical high  Despite historical highest pre-season channel inventory (due to Covid-19 in previous two summer seasons) 2  Normal and negl

7. Slide 7: Performance Highlights – Q1FY23 (2/2)

   Performance Highlights – Q1FY23 (2/2) 6  Newer channels namely D2C and E-Commerce continue to deliver robust incremental sales growth  D2C and E-Commerce platforms initiated globally viz. in the USA, Mexico and Australia 7  Having huge potential due to ground presence through fully operational su

8. Slide 8: Financials

   \ympheny Refreshing Lives Financials

9. Slide 9: Q1 FY23 – Consolidated

   Q1 FY23 – Consolidated

10. Slide 10: Financials (₹ in Cr. & Margin %)

    Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 45.3% 43.5% 45.6%  Margin 292 329 230 132 149 99 Q1FY20 Q1FY22 Q1FY23 Q1FY20 Q1FY22 Q1FY23 EBITDA Profit After Tax Margin  12.9% 4.4% 10.5% 11.4% 2.7% 8.9%  Margin 38 34 33 29 10 6 Q1FY20 Q1FY22 Q1FY23 Q1FY20 Q1FY22 Q1FY23 10

11. Slide 11: EBITDA Margin Movement

    EBITDA Margin Movement A&P Expenses ― For sale of historical highest pre-season channel inventory + Record sales in June quarter + D2C & E-Commerce promotions (₹ Cr.)  % of 10.5% 11.8% Revenue 39 31 Q1FY20 Q1FY23 Freight Charges ― Increased Freight & Forwarding Charges (₹ Cr.)  % of 3.8% 5.7% Reve

12. Slide 12: Geographical Segment Breakup

    Geographical Segment Breakup Revenue from Operations (₹ Cr.) EBITDA (₹ Cr.) 329 292 141 230 38 144 43% 34 49% 17 144 45% 15 63% 44% 188 10 148 57% 21 15 19 51% 86 55% 148% 56% 37% -5 -48% Q1FY20 Q1FY22 Q1FY23 Q1FY20 Q1FY22 Q1FY23 FY20 : 15% FY22 : 51% Share (%) of ROW in EBITDA 12

13. Slide 13: Key Financial Metrics

    Key Financial Metrics Capital Employed (₹ Cr.) ROCE (%) – Not Annualized (Monthly Average) (Air Cooling & Other Appliances) 437 413 288 12% 9% 1% Q1FY20 Q1FY22 Q1FY23 Q1FY20 Q1FY22 Q1FY23 Average Net Worth (₹ Cr.) Return on Net Worth (%) 818 666 714 16% 16% 18% Q1FY20 Q1FY22 Q1FY23 Q1FY20 Q1FY22 Q1F

14. Slide 14: Q1 FY23 – Symphony India (Standalone)

    Q1 FY23 – Symphony India (Standalone)

15. Slide 15: Financials (₹ in Cr. & Margin %)

    Financials (₹ in Cr. & Margin %) Revenue from Operations Treasury Income 6.2% 6.4% 1.9%  % of Revenue 208 160 104 10 7 4 Q1FY20 Q1FY22 Q1FY23 Q1FY20 Q1FY22 Q1FY23 Gross Margin EBITDA Profit After Tax Margin  50.1% 47.6% 50.6% 15.3% 0.4% 12.8% 16.5% 6.8% 12.2% 105 80 27 26 49 24 25 0 7 Q1FY20 Q1FY2

16. Slide 16: EBITDA Margin Movement

    EBITDA Margin Movement A&P Expenses ― For sale of historical highest pre-season channel inventory + Record sales in June quarter + D2C & E-Commerce promotions (₹ Cr.)  % of 17.4% 18.3% Revenue 38 28 Q1FY20 Q1FY23 Freight Charges + Warranty Charges ― Increased Freight & Forwarding Charges and change

17. Slide 17: Key Financial Metrics

    Key Financial Metrics Capital Employed (₹ Cr.) ROCE (%) – Not Annualized (Monthly Average) (Air Cooling & Other Appliances) Treasury (₹ Cr.) as on 150 33% 130 19% 73 0% Q1FY20 Q1FY22 Q1FY23 Q1FY20 Q1FY22 Q1FY23 525 463 539 Average Net Worth (₹ Cr.) Return on Net Worth (%) 30-06-19 30-06-21 30-06-22

18. Slide 18: Way Forward

    \ympheny Refreshing Lives Way Forward

19. Slide 19: Way Forward

    Way Forward  Decent visibility of consumer sales in the domestic market 1  With complete normalization of trade inventory and demand picking up  Continue to offer industry leading innovations, designs and formats  Continue to plough investment in 2  Domestic and global D2C and E-Commerce platfo

20. Slide 20: Driving Sustainability through Environment Stewardship

    Driving Sustainability through Environment Stewardship  Symphony products : ~ 93% lower GHG emissions vis-à-vis 5-star Air 1 Conditioners 2  A Symphony Cooler saves approx.14 trees per year BUSINESS ENERGY CONSERVATION THE CORE BELIEF UNPARELLED DOING COMMITMENT RIGHT FOR 20

21. Slide 21: Shareholders’ Profile

    \ympheny Refreshing Lives Shareholders’ Profile

22. Slide 22: Shareholder profile (As on June 30, 2022)

    Shareholder profile (As on June 30, 2022) 11.52% Sr. Holding Top 10 Institutional Investors No. (%) 4.33% 1 Axis Mutual Fund 4.52% 2 HDFC Mutual Fund 3.65% 3 Taiyo Greater India Fund Limited 1.37% 10.90% 4 UTI Mutual Fund 0.95% 5 ICICI Mutual Fund 0.58% Public Sector Pension Investment Board – 6 0.4

23. Slide 23: Glossary

    Glossary A&P Expenses : Advertisement and sales promotion expense COGS : Cost of Goods Sold EBITDA : Excludes other income EBITDA Margin (%) : % of Revenue from operations Gross Margin (%) : % of Revenue from sale of products PAT Margin (%) : % of Revenue from operations ROCE (%) – Not Annualized :

24. Slide 24: 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 Taiying Industrial Area, 26 Nylex Avenue 3774, West Cheyenne Av Pedra Branca,

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