Slide 1: Earnings Call Presentation (H1 & Q2FY23)
EARNINGS CALL PRESENTATION (H1 & Q2FY23) October 2022
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: Contents
Contents 1 Performance Highlights 2 Financials (H1FY23 & Q2FY23) 3 Outlook 4
Slide 5: Performance Highlights
\ympheny Refreshing Lives Performance Highlights
Slide 6: Performance Highlights – H1FY23
Performance Highlights – H1FY23 Highest ever Consolidated and Standalone sales 1 Consolidated sales up by 7% vis-à-vis historical high Standalone sales up by 19% vis-à-vis historical high Gross Margin improved on YoY basis 2 Consolidated Gross Margin : 45.1% (+70 bps) Standalone Gross Ma
Slide 7: Performance Highlights – Q2FY23
Performance Highlights – Q2FY23 Highest ever Consolidated and Standalone sales 1 Consolidated sales up by 1% vis-à-vis historical high Standalone sales up by 10% vis-à-vis historical high 2 Robust off-season collection, in line with pre-Covid period Trade sentiment quite positive and buoya
Slide 8: Financials
\ympheny Refreshing Lives Financials
Slide 9: H1FY23 – Consolidated
H1FY23 – Consolidated
Slide 10: Consolidated Financials (₹ in Cr. & Margin %)
Consolidated Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 44.4% 45.1% Margin 603 450 34% 36% 271 199 H1FY22 H1FY23 H1FY22 H1FY23 EBITDA Profit After Tax Margin 11.0% 11.8% 8.0% 10.2% Margin 44% 70% 71 61 49 36 H1FY22 H1FY23 H1FY22 H1FY23 10
Slide 11: Consolidated : Segment Breakup
Consolidated : Segment Breakup Revenue from Operations (₹ Cr.) EBITDA (₹ Cr.) 603 225 450 37% 71 8 229 12% 49 51% 20 378 42% 63% 63 221 29 88% 49% 58% H1FY22 H1FY23 H1FY22 H1FY23 11
Slide 12: H1FY23 – Standalone
H1FY23 – Standalone
Slide 13: Standalone Financials (₹ in Cr. & Margin %)
Standalone Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 47.6% 48.5% Margin 73% 423 77% 244 205 116 H1FY22 H1FY23 H1FY22 H1FY23 EBITDA Profit After Tax Margin 14.2% 17.3% 15.9% 16.6% Margin 111% 81% 73 70 35 39 H1FY22 H1FY23 H1FY22 H1FY23 13
Slide 14: Q2FY23 – Consolidated
Q2FY23 – Consolidated
Slide 15: Consolidated Financials (₹ in Cr. & Margin %)
Consolidated Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 45.4% 44.6% Margin 24% 274 22% 122 220 100 Q2FY22 Q2FY23 Q2FY22 Q2FY23 EBITDA Profit After Tax Margin 17.9% 13.4% 13.6% 11.6% Margin -7% 6% 39 37 30 32 Q2FY22 Q2FY23 Q2FY22 Q2FY23 15
Slide 16: Consolidated : EBITDA Margin Movement
Consolidated : EBITDA Margin Movement A&P Expenses ― Off-season incremental Market Research and Sales & Marketing expenses having long-term benefit % of 1.0% 3.2% Revenue 286% 9 2 Q2FY22 Q2FY23 Freight & Forwarding Charges ― Higher Freight charges due to export to a Brazilian subsidiary on CIF bas
Slide 17: Consolidated : Segment Breakup
Consolidated : Segment Breakup Revenue from Operations (₹ Cr.) EBITDA (₹ Cr.) 274 220 84 37 31% 39 -6 85 -18% 39% 6 16% 190 43 135 69% 33 118% 61% 84% Q2FY22 Q2FY23 Q2FY22 Q2FY23 17
Slide 18: Consolidated : Key Financial Metrics
Consolidated : Key Financial Metrics Monthly Avg. Capital Employed Return on Capital Employed Return on Net Worth (Core Business) (Core Business) ₹ 192 Cr. 18% 18% 18
Slide 19: Q2FY23 – Standalone
Q2FY23 – Standalone
Slide 20: Standalone Financials (₹ in Cr. & Margin %)
Standalone Financials (₹ in Cr. & Margin %) Revenue from Operations Gross Margin 47.9% 46.4% Margin 54% 215 50% 140 100 67 Q2FY22 Q2FY23 Q2FY22 Q2FY23 EBITDA Profit After Tax Margin 24.8% 21.6% 22.6% 20.7% Margin 34% 41% 46 45 35 32 Q2FY22 Q2FY23 Q2FY22 Q2FY23 20
Slide 21: Standalone : EBITDA Margin Movement
Standalone : EBITDA Margin Movement A&P Expenses ― Off-season incremental Market Research and Sales & Marketing related expenses having long-term benefit % of 1.1% 3.2% Revenue 334% 7 2 Q2FY22 Q2FY23 Freight & Forwarding Charges ― Higher Freight expenses due to export to a Brazilian subsidiary on
Slide 22: Standalone : Key Financial Metrics
Standalone : Key Financial Metrics Monthly Avg. Capital Employed Return on Capital Employed (%) (Core Business) (Core Business) ₹ - 89 cr. Infinite Return on Net Worth Treasury (As on 30/09/2022) 18% ₹ 778 Cr. * Excluding loans/investments in subsidiaries 22
Slide 23: Outlook
\ympheny Refreshing Lives Outlook
Slide 24: Outlook
Outlook 1 Decent visibility of consumer sales in the domestic market and exploring new markets globally 2 Improved performance of Climate Technologies, Australia and IMPCO, Mexico 3 Close watch on evolving global economic headwinds which may translate into demand headwinds in some overseas mar
Slide 25: Glossary
Glossary Gross Margin (%) : % of Revenue from sale of products 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 o
Slide 26: 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,