Symphony is the stock on radar after the company posted a good set of Q2 earnings. In an interview to CNBC-TV18, Nrupesh Shah, Executive Director of the company discussed the Q2 performance.
In an interview to CNBC-TV18, Achal Bakeri, CMD of Symphony spoke at length about the latest happenings in the company and his outlook going ahead.
“We have done electrification of total 25,000 villages in the last two-three years,” Shekhar Bajaj, CMD of Bajaj Electricals told CNBC-TV18.
In an interview to CNBC-TV18, Achal Bakeri, CMD of Symphony said that summer is expected to be harsh this year.
Executive Director Nrupesh Shah expects Symphony to maintain a topline growth of 20-25 percent. The Ahmedabad-based air cooler company last week reported a 17.45 per cent jump in third quarter standalone net profit to Rs 56.06 crore.
Nrupesh Shah says the volume growth is in line with revenue growth of the company. He adds that the growth in the central air-conditioning segment has been phenomenal.
Speaking to CNBC-TV18, Achal Bakeri, CMD of Symphony said that demand in Q2 has been robust and performance will remain sustainable going forward.
Symphony CMD Achal Bakeri sees no reason for an increase in product prices but expects margins to expand, albeit marginally.
Symphony reported a net profit of Rs 47.7 crore in the second quarter ended December, 2015 versus Rs 36 crore for the same quarter last fiscal but the topline was a bit shy of estimates at around Rs 162 crore.
Achal Bakeri, chairman and MD, Symphony, is confident that the company will be able to maintain the growth momentum in the coming quarters. He says, in the organised market, the company's market share stands at 50 percent
Symphony's acquisition of Chinese company, Munters Keruilai will open up global markets and add more customers, Achal Bakeri, CMD of Symphony said.
In an interview with CNBC-TV18, Nrupesh Shah, ED-Corporate Affairs, Symphony said implementation of GST will bridge the price gap between organised and unorganised sectors.
Speaking to CNBC-TV18, Nrupesh Shah, ED-Corporate Affairs of Symphony says un-seasonal rains and hailstorms have affected the sales of air-conditioners this year.
Pricing power, new launches and economies of scale to the help company keep its EBITDA margins steady at current levels of around 30 percent, said Nrupesh Shah, executive director-corporate affairs, Symphony.
The company achieved volume growth of 25 percent and value growth of over 30 percent for H1FY15 and is confident of maintaining long-term growth of 20-25%, said Nrupesh Shah, Executive Director at Symphony.
The company reported volume growth of 38 percent in the first quarter, Nrupesh Shah, ED - Corporate Affairs, Symphony said.