Slide 1: Exchange filing cover letter
May 24, 2021 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 available
Slide 2: Corporate Presentation 2021
CORPORATE PRESENTATION 2021 SLIDE 1
Slide 3: Air cooling simplified
Water Cool distributor 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
Symphony Limited – India
Slide 6: Symphony HO - Ahmedabad
Symphony HO - Ahmedabad SLIDE 5
Slide 7: Wide product range – Household air coolers
Wide product range – Household air coolers SLIDE 6
Slide 8: New launch – Household air coolers
New launch – Household air coolers Diet 3D 55i+ Diet 3D 40i Diet 3D 30i Diet 3D 20i Diet 3D 12i Sumo 75XL Sumo 115XL Sumo 75XL DD SLIDE 7
Slide 9: New launch - Duet Series Cooling Fan
New launch - Duet Series Cooling Fan SLIDE 8
Slide 10: Product range – Industrial and commercial air coolers
Product range– Industrialand commercialair coolers Universal air Four-side high Powerful air throw Robust weather- cooler – top and efficiency resistant body bottom discharge in honeycomb pads the same cooler SLIDE 9
Slide 11: Key Firsts
Refreshing Lives SLIDE 10
Slide 12: Key Firsts - Formats
Key Firsts -Formats 2009 2012 2017 Introduced 2016 Introduced Touch Introduced Introduced Tower Format Air Tower Format Desert range with 4-side Cooler Wall Mounted Air Cooler removable pads and double Air Cooler blower SLIDE 11
Slide 13: 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 12
Slide 14: Milestones
1988 1995 – 2000 1994 Pre-2000s Milestones Symphony established with Listed on stock exchanges Diversified into ACs, washing machines Many products – One market one air cooler and other durables model 2011 2012 2002-2007 Post 2005s 2009 - 2011 Introduced Recognition from Financial stress and Acquire
Slide 15: 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 16: Growth Drivers
Growth Drivers 01 02 03 Short-term Medium-term Long-term growth driver growth driver growth driver Domestic market Industrial coolers (IC) Export market for household and commercial for household coolers (HC) coolers (CC) coolers SLIDE 15
Slide 17: Sectoral Entry Barriers
Sectoral Entry Barriers Leader in Leader in Leader in Leader in distribution brand and terms of management and after category innovation sales service status Technology, Focused Entrenched Serving ~ 19,000 design, quality, approach experience pin codes features and (what to do and performance what n
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: Organogram
Organogram Board of Directors Chairman & Managing Director Executive Director - Corporate Affairs CEO – International CEO - India CFO - Global Subsidiaries CEO – GM – CEO – IMPCO, Mexico GSK, China CT, Australia SLIDE 18
Slide 20: At a glance
At a glance 11 5 50+ 21 50 Manufacturing Different Household C&F depots Branches facilities product ranges cool- er models + wide range of Industrial and Commercial coolers 275+ 1000+ 30000+ 1000+ 11 Field sales Distributors Dealers across Authorised Robust IT &service staff 5000+ towns service cent
Slide 21: Market Potential – India
Market Potential – India
Slide 22: Industrial and commercial air cooling solutions – long runway
Industrial and commercial air cooling solutions – long runway Opportunity and size Factories Universities Warehouses Lecture halls Shops and showrooms Service stations The industrial air-conditioning market in Religious institutions Offices India is estimated to be worth ~ ₹10,000 Cr The value of th
Slide 23: 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 24: Industrial air cooling: Enterprise customers
Industrial air cooling: Enterprise customers Working with esteemed brands SLIDE 23
Slide 25: Industrial air cooling: Installations
Industrial air cooling: Installations BOSCH, BENGALURU HERO SHOWROOM, CHHATTISGARH RK MARBLES, RAJASTHAN KENT RO, NOIDA SLIDE 24
Slide 26: Industrial air cooling: Installations
Industrial air cooling: Installations RENAULT FACTORY, MOROCCO F&B INDUSTRY, NIGERIA GASPER MASS STADIUM, MEXICO JD.COM WAREHOUSE, CHINA SLIDE 25
Slide 27: Overseas subsidiaries
Overseas subsidiaries SLIDE 26
Slide 28: Climate Technologies Pty. Ltd. (CT), Australia
Climate Technologies Pty. Ltd. (CT), Australia SLIDE 27
Slide 29: 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 28
Slide 30: 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
Slide 31: Range of products
Range of products Household cooler Commercial cooler Rooftop Cooler Window air cooler Air conditioner Ducted heating unit SLIDE 30
Slide 32: Growth Drivers - Australia
Growth Drivers - Australia Potential to strengthen Access to portable coolers market presence with market with Symphony coolers, through retail expanded product range chain stores Margin improvement: Potential of growth in Value engineering and Housing sector, leading to cost control growth of heate
Slide 33: Growth Drivers - USA
Growth Drivers - USA Big market for air coolers Bonaire USA (BUSA) in USA becoming popular brand with presence in The Home Depot, Lowe’s and Amazon BUSA, a recent entrant in Rapid growth of BUSA US, had fast growth in with expanded product past 3 years, and has very basket high potential SLIDE 32
Slide 34: Portfolio of Global Brands
Portfolio of Global Brands SLIDE 33
Slide 35: Impco S.De R.L. de C.V. (IMPCO), Mexico
Impco S.De R.L. de C.V. (IMPCO), Mexico SLIDE 34
Slide 36: Organogram
Organogram General Director Industrial Sales Residential Sales Marketing HR Manager Finance Manager Director Director Manager Supported by 75+ members strong team SLIDE 35
Slide 37: 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 38: Industrial air coolers sourced from GSK, China
Industrial air coolers sourced from GSK, China Window Air Coolers HT Series Air Coolers SLIDE 37
Slide 39: Growth Drivers
Growth Drivers Value Enhance Innovation engineering distribution SLIDE 38
Slide 40: Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China
Guangdong Symphony Keruilai Air-coolers Co. Ltd (GSK), China SLIDE 39
Slide 41: Organogram
Organogram General Director Operations Domestic Sales International R&D Manager HR Manager Finance Manager Manager Director Sales Director Supported by 100+ members strong team SLIDE 40
Slide 42: 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 43: Household air coolers
Household air coolers SLIDE 42
Slide 44: Industrial air coolers, Commercial air coolers
Industrial air coolers Commercial air coolers SLIDE 43
Slide 45: Growth Drivers
Growth Drivers Innovation Increasing sales New projects – through online Industrial cooler platform segment Margin improvement: Increasing touch Value engineering & points – Modern cost control retail Synergies in production, sales and R&D SLIDE 44
Slide 46: Financials
Financials SLIDE 45
Slide 47: Revenue break-up, 2020-21
Revenue break-up, 2020-21 (Consolidated) Gross revenue ₹ 931 cr India: 50% Rest of World: 50% ₹ 461 cr ₹ 470 cr Air-coolers: 93% Others: 7% ₹ 429 cr ₹ 32 cr PAT (₹ Cr) (Standalone) RONW (%) (Standalone) ROCE (%) (Standalone) Air Coolers Corporate Funds 237.3 INFINITE FY21 FY21 FY21 112.3 5.0 15.9 80
Slide 48: Profit and loss statement and segment reporting
Profit and loss statement and segment reporting Profit and Loss ₹ cr Segmental ₹ cr Statement Consolidated Standalone Segmental Consolidated Standalone Particulars (₹ Cr.) FY21 FY20 FY19 FY18 FY21 FY20 Revenue (₹ Cr.) FY21 FY20 FY19 FY18 FY21 FY20 India 431.3 651.0 466.8 622.2 431.3 651.0 Revenue fr
Slide 49: Financials: Statement of profit and loss
Financials: Statement of profit and loss (Consolidated) EBITDA (₹ Cr) Dividend Payout (₹ Cr and %) Gross Revenue Profit after Tax (₹ Cr) (₹ Cr) 273 194 266 242 1157 193 182 209 106.6% 166 931 883 148 852 166 171 170 808 105.3 116 107 625 558 91 58.9 50.8% 37.9 38 35 31.6 19.7% 32.7% 41.5% 19.0% 19.0
Slide 50: Financials: Balance sheet
Financials: Balance sheet (Consolidated) Capital Employed# - Air Capital Employed# - Corporate Debt (₹ Cr) Shareholders Fund (₹ Cr) Cooling and Other Appliances Funds (₹ Cr) (₹ Cr) 187 184 174 282 628 759 666 512 505 639 226 612 197 422 465 292 328 246 306 108 92 180 26 39 19 30 0 0 2015 2016* 2017
Slide 51: Financials: Gross and EBIDTA Margin
Financials: Gross and EBIDTA Margin Consolidated Standalone Consolidated Standalone Gross Margin (%) Gross Margin (%) EBITDA Margin (%) EBITDA Margin (%) 54.4% 54.7% 54.9% 32.1% 31.0% 39.6% 52.2% 51.2% 29.7% 29.7% 53.3% 53.4% 35.8% 46.2% 47.0% 34.9% 44.6% 52.9% 33.3% 32.3% 22.7% 29.1% 25.9% 50.1% 50
Slide 52: 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 53: 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,