Symphony wins India Design Mark for best design of its Diet 22i air cooler
http://www.equitybulls.com/admin/news2006/news_det.asp?id=121145
Can symphony be bought at CMP? I personally experienced the product in a shop the cooling was effective. The Summer is sizzling this year . Any news on exports front which I think is a low RoCe segment?
Seeing lot of visibility of the coâs product and advertising. Lets try to work more on this stock
Ayush
this can be a good opportunistic bet. Looking at the extremely hot summer this year, domestic sales should be good. I think stock looks low risk moderate return kind of investment with a 4-6 months view.
Regarding Management, the management of Symphony the Bakeri group is also engaged in the real estate business at Ahmedabad. Locals hold the Bakeri group in very high esteem in terms of integrity and honesty. It is said that even about 10 years back this group took 100% payments in its real estate business in cheque.
as per the con call, in first 28 days of april 2013, they sold same number of coolers as in full year 2011-12. only drag is pumping money into their mexican operations which is not growing as expected
They follow June ending. Hence the period is from July 1st to April 28, not only 28 days.
The amount in question is 5.15 million USD â that amounts to 27-28 crores which in overall picture does not seem too big an amount.
The signal they send is bad but the amount is not too big to be too much of a worry. If they continue this thing in next few quarters then it might be a cause of worry.
Again since they have 75% stake in symphony they would be more concerned about the valuations of symphony rather than siphoning paltry 25-27 crores unnecessarily.
Has somebody or his friend experienced the room n industrial cooler of Symphony ? I was impressed by the cooling ness of a small symphony in a small shop in Delhi in hot May. The guy was a satisfied user n no need to put in window for more efficacy.
The mkt size is huge Inspite of seasonality n ROCe is nice with asset light model.
Entered in Symphony today.
The total Air cooler market in india is around 1.6 million units whereas the total Air Conditioner market is 4 milllion units.
In a country where the middle class is set to explode over the next decade the Air Cooler market presents significant scope for expansion through demand creation by selling it as a lifestyle product (better design and looks) then as a product of necessity.
Was reading somewhere, that the market for air coolers is expected to grow at around 30% for the next few years and being a dominant market player Symphony should grow at more than that.
RISK
Being a company dependent on weather vagaries growth could be non-linear and lumpy.
I think it seems to be a very good bet due to the hot summer we have expected this year. Last year the summer was not too hot and so the results were not too good and the stock corrected. It seems the things will change this time around
Mr.Vinayak Sukthankaris talking of a 35% growth in this summer months or in other words this quarter.
I think EPS expectation is about 17-18 for the year ? So, the company is already trading at ~20 PE on FY13 expected numbers.
Dividend expectation could be close to 7/-.
Do we expect a PE re-rating on this stock ? What would be ideal PE for this one ?
I went to the market in Jabalpur, MP and saw very good visibility in some shops. Also saw a couple of other shops (not selling coolers) where symphony was installed. The users said they were pretty happy with the performance. They had bought Storm model few weeks back.The city experienced very hot climate, upto 44-45 degrees.
BtwâŚsymphony dropped 4% today with dayâs low of 315. Volumes are not that high. Could this be a good entry price?
Is the stock falling due to early onset of monsoon ?
I doubt if early monsoon will affect sale of coolers much. Most of the purchase should happen in April and May as anyone thinking of buying a air cooler in June will rightly postpone the purchase to next year rather than buy it for 8-10 days and keeping it for entire year.
http://www.moneycontrol.com/news/news/symphonys-ceo-vinayak-sukthankar-steps-down_909794.html
Any red flags?
When is symphony declaring quarterly results??
symphony results out.
standalone
Q-o-Q - sales increased 26%, NP increased 31%, EPS7.41 vs 5.62 )- rose 31%.
Y-o-Y - sales increased 25%, NP increased 25%, EPS** 17.92 vs 14.39**)- 25%
consolidated
Y-oY - sales increased 22%. NP increased 13%, EPS 17.18 vs 15.18 - 13%
Icing on the cake
Dividend declared - 6.5/- with a dividend payout of 44%.
the standalone results looks splendid with a 25% growth in a year of subdued economy and lowest GDP growth in a decade.
the subsidiary not doing well as previously indicated by the management reflects in the consolidated nos.
The current div yield is 2.375 on the price of 277.
The div payout has been tremendous - 44 %.
Hi,
Decent results on stand alone basis. If the Impco sales and profits recover in fy14 there will be good growth on consolidated basis too. Great dividend payout. The company is available at 12 times FY14E.
It will be interesting to listen to the concall.
Cheers
Vinod
The ROCE on Home appliances business for latest quarter is 282%. 172% for the yearâŚMindblowing.
http://www.moneycontrol.com/livefeed_pdf/Aug2013/SYMPHONY_Outcoembm_06082013.pdf
Good move to target the hot MENA(Middle East and North Africian) region. I believe there is huge scope for both the residential and industrial coolers there.