If I think as an investor…
I am more interested in where my RoI opportunity is higher.
To me it seems Symphony (=Air Cooler). Reasons being…
Highly concentrated Market (almost Monopolistic in organised sector)
Huge Runway in terms of market size.
Unit Cost is affordable for Large indian house holds. Particularly considering operational cost.
Industrial/Package Air Cooler is totally un explored but high opportunity market.
Movement of un-organised market (~60%) is sure shot to happen in next few years.
With all above (and many more) points if u combine Symphony Balance Sheet strength, Management and Execution Quality, it is best combo to have.
Ofcourse, at what price it makes sense is a different point. Also it will hv different meanings for people holding it and for one taking new position.
I will strongly suggest to go through last 5 years AR, Earning Calls and assess what is said v/s achieved.
Discl: One of my top holdings and hence may hv many biases like Association Bias etc.