Symphony Limited · NSE:SYMPHONY

Symphony — Investor Presentation (June 2020)

56 slides from Symphony's investor presentation, Jun 16, 2020

  1. Slide 1: Exchange filing cover letter

    June 16, 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 to the above-mentioned subject line; we are enclosing herewith updated Investor Presentation. The same is also availabl

  2. Slide 2: Corporate Presentation 2020

    CORPORATE PRESENTATION 2020 SLIDE 1

  3. Slide 3: Air cooling simplified

    Water distributor Cool filtered air Air cooling simplified Hot dry air Fan Evaporative media Water reservoir SLIDE 2

  4. 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

  5. Slide 5: Symphony Limited - India

    This image cannot currently be displayed. Symphony Limited - India SLIDE 4

  6. Slide 6: Symphony HO - Ahmedabad

    Symphony HO - Ahmedabad SLIDE 5

  7. Slide 7: Product range – Household air coolers

    Product range – Household air coolers SLIDE 6

  8. Slide 8: Product range – Commercial air coolers

    Product range – Commercial air coolers SLIDE 7

  9. Slide 9: Product range – Industrial air coolers

    Product range – Industrial air coolers SLIDE 8

  10. Slide 10: Key Firsts

    Key Firsts 1989 World’s first Plastic body air cooler SLIDE 9

  11. 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

  12. 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

  13. 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

  14. 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-

  15. 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

  16. 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

  17. 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

  18. 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 

  19. 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

  20. Slide 20: Market Potential - India

    This image cannot currently be displayed. Market Potential - India SLIDE 19

  21. 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

  22. 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)

  23. Slide 23: Industrial air cooling: Enterprise customers

    Industrial air cooling: Enterprise customers Working with esteemed brands SLIDE 22

  24. 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

  25. 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

  26. Slide 26: Overseas subsidiaries

    This image cannot currently be displayed. Overseas subsidiaries SLIDE 25

  27. Slide 27: Impco S.De R.L. de C.V. (IMPCO), Mexico

    Impco S.De R.L. de C.V. (IMPCO), Mexico SLIDE 26

  28. Slide 28: Organogram

    Organogram General Director Industrial Sales Residential Sales Marketing Manager HR Manager Finance Manager Director Director Supported by 75+ members strong team SLIDE 27

  29. 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

  30. Slide 30: Industrial air coolers sourced from GSK, China

    Industrial air coolers sourced from GSK, China Window HC air coolers HT Series HC air coolers SLIDE 29

  31. Slide 31: Distribution method

    Distribution method  Strong distribution network in Mexico, Central America and parts of South America  Strong presence in leading retail chains like Walmart, Sears, Home Depot, Costco etc. SLIDE 30

  32. Slide 32: Growth drivers

    Growth drivers Value Enhance Innovation engineering distribution SLIDE 31

  33. Slide 33: Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China

    Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China SLIDE 32

  34. Slide 34: Organogram

    Organogram General Manager Operations Domestic Sales International R&D Manager HR Manager Finance Manager Manager Director Sales Director Supported by 100+ members strong team SLIDE 33

  35. 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

  36. Slide 36: Household air coolers

    Household air coolers SLIDE 35

  37. Slide 37: Industrial and commercial air coolers

    Industrial air coolers Commercial air coolers SLIDE 36

  38. 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

  39. 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

  40. Slide 40: Climate Technologies Pty. Ltd. (CT), Australia

    Climate Technologies Pty. Ltd. (CT), Australia SLIDE 39

  41. Slide 41: Organogram

    Organogram Chief Executive Officer National Sales Finance National Supply Chain R&D Manager Manager Manager HR Manager Manager Supported by 80+ members strong team SLIDE 40

  42. 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 2017 201

  43. Slide 43: Range of products

    Range of products Household cooler Commercial cooler Rooftop Cooler Window air cooler Air conditioner Ducted heating unit SLIDE 42

  44. Slide 44: Brands

    3.0 Brands = BONAIRE ( CELAIR The leaders in heating and cooling ZA) AIRAZONA TECHNOLOGIES SLIDE 43

  45. 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

  46. 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 3 years, and has basket very high potential SLIDE 45

  47. Slide 47: Portfolio of Global Brands

    Portfolio of Global Brands SLIDE 46

  48. Slide 48: Financials

    This image cannot currently be displayed. Financials SLIDE 47

  49. Slide 49: Revenue break-up, 2019-20

    Revenue break-up, 2019-20 (Consolidated) Gross revenue ₹ 1157 cr India: 60% Rest of World: 40% ₹ 696 cr ₹ 461 cr Air-coolers: 93% Others: 7% ₹ 649 cr ₹ 47 cr PAT (₹ Cr) (Standalone) RONW (%) (Standalone) ROCE (%) (Standalone) Air Coolers Corporate Funds INFINITE FY20 FY20 FY20 185.9 28.2 6.0 115.8 F

  50. Slide 50: Profit and loss statement and segment reporting

    Profit and loss statement and segment reporting Profit and Loss Statement ₹ cr Segmental ₹ cr Consolidated Standalone Segmental Consolidated Standalone Particulars (₹ Cr.) FY20 FY19 FY18 FY17 FY20 FY19 Revenue (₹ Cr.) FY20 FY19 FY18 FY17 FY20 FY19 India 651.0 466.8 622.2 596.9 651.0 466.6 Revenue fr

  51. Slide 51: Profit and loss statement (Quarterly)

    Profit and loss statement (Quarterly) Profit and Loss Statement ₹ cr Standalone Consolidated Particulars (₹ Cr.) Mar-20 Dec-19 Sep-19 Jun-19 Mar-19 Mar-20 Dec-19 Sep-19 Jun-19 Mar-19 Revenue from operations 154.4 207.2 194.6 159.9 138.1 248.9 290.0 272.1 291.8 234.7 Other Income 13.5 11.1 11.1 11.2

  52. Slide 52: Financials: Statement of profit and loss

    Financials: Statement of profit and loss (Consolidated) Gross Revenue EBIDTA Profit after tax Dividend payout (₹ Cr) (₹ Cr and %) (₹ Cr) (₹ Cr) 1157 273 266 194.0 883 242 193 852 808 182 209 166 148 625 166 171 558 503 140 116 105.3 106 91 58.9 53.2 37.9 38.0 31.6 106.6% 50.3% 50.8% 88.9% 19.0% 19.7

  53. Slide 53: Financials: Balance sheet

    Financials: Balance sheet (Consolidated) Shareholders Fund Capital employed# Capital employed# Debt (₹. Cr) Air cooling and other Corporate funds (₹ Cr) (₹ Cr) appliances (₹ Cr) 666 628 639 612 226 512 197 465 422 328 187 306 292 174 112 108 276 246 92 195 180 39 30 19 26 0 0 0 2014 2015 2016 2017 2

  54. Slide 54: Financials: Gross and EBIDTA Margin

    Financials: Gross and EBIDTA Margin Consolidated Standalone Consolidated Standalone Gross Margin Gross Margin EBIDTA margin EBIDTA Margin (%) (%) (%) (%) 57.1 54.9 52.9 53.3 53.4 50.1 50.2 53.3 54.4 54.7 52.2 51.6 46.2 47.0 39.6 34.9 35.8 32.4 33.3 32.3 32.1 31.0 29.7 29.7 27.7 25.9 22.7 16.6 2014 2

  55. Slide 55: 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

  56. Slide 56: 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

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