BSE:517385

Stock Analysis Report

Executive Summary

Symphony Limited manufactures and trades in residential, commercial, and industrial air coolers in India and internationally.


Snowflake Analysis

High growth potential with excellent balance sheet.

Share Price & News

How has Symphony's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 517385 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.5%

517385

1.5%

IN Consumer Durables

-0.6%

IN Market


1 Year Return

19.0%

517385

36.2%

IN Consumer Durables

11.1%

IN Market

Return vs Industry: 517385 underperformed the Indian Consumer Durables industry which returned 36.2% over the past year.

Return vs Market: 517385 exceeded the Indian Market which returned 11.1% over the past year.


Shareholder returns

517385IndustryMarket
7 Day3.5%1.5%-0.6%
30 Day17.3%6.4%-0.5%
90 Day17.5%15.4%3.0%
1 Year21.3%19.0%37.3%36.2%13.1%11.1%
3 Year9.6%6.8%50.1%47.6%24.5%18.0%
5 Year34.5%28.8%104.0%98.6%37.8%25.7%

Price Volatility Vs. Market

How volatile is Symphony's share price compared to the market and industry in the last 5 years?


Simply Wall St News

1 year ago | Simply Wall St

Best Growth Stock in May

Valuation

Is Symphony undervalued compared to its fair value and its price relative to the market?

65.97x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 517385 (₹1379.2) is trading above our estimate of fair value (₹578.7)

Significantly Below Fair Value: 517385 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 517385 is poor value based on its PE Ratio (66x) compared to the Consumer Durables industry average (23x).

PE vs Market: 517385 is poor value based on its PE Ratio (66x) compared to the Indian market (13.3x).


Price to Earnings Growth Ratio

PEG Ratio: 517385 is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: 517385 is overvalued based on its PB Ratio (13.3x) compared to the IN Consumer Durables industry average (1.4x).


Next Steps

Future Growth

How is Symphony forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

24.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 517385's forecast earnings growth (24.4% per year) is above the savings rate (6.5%).

Earnings vs Market: 517385's earnings (24.4% per year) are forecast to grow faster than the Indian market (21.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 517385's revenue (18.4% per year) is forecast to grow faster than the Indian market (9% per year).

High Growth Revenue: 517385's revenue (18.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 517385's Return on Equity is forecast to be high in 3 years time (31.4%)


Next Steps

Past Performance

How has Symphony performed over the past 5 years?

-2.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 517385 has a high level of non-cash earnings.

Growing Profit Margin: 517385's current net profit margins (13.4%) are lower than last year (16.1%).


Past Earnings Growth Analysis

Earnings Trend: 517385's earnings have declined by -2.8% per year over the past 5 years.

Accelerating Growth: 517385's earnings growth over the past year (15.6%) exceeds its 5-year average (-2.8% per year).

Earnings vs Industry: 517385 earnings growth over the past year (15.6%) underperformed the Consumer Durables industry 15.6%.


Return on Equity

High ROE: 517385's Return on Equity (19.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Symphony's financial position?


Financial Position Analysis

Short Term Liabilities: 517385's short term assets (₹8.4B) exceed its short term liabilities (₹4.1B).

Long Term Liabilities: 517385's short term assets (₹8.4B) exceed its long term liabilities (₹1.7B).


Debt to Equity History and Analysis

Debt Level: 517385's debt to equity ratio (23.3%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if 517385's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: 517385's debt is well covered by operating cash flow (150.9%).

Interest Coverage: 517385 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 517385 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 517385's debt is covered by short term assets (assets are 4.9x debt).


Next Steps

Dividend

What is Symphony's current dividend yield, its reliability and sustainability?

0.33%

Current Dividend Yield


Dividend Yield vs Market

company0.3%marketbottom25%0.6%markettop25%2.6%industryaverage0.4%forecastin3Years1.4%

Current dividend yield vs market & industry

Notable Dividend: 517385's dividend (0.33%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.59%).

High Dividend: 517385's dividend (0.33%) is low compared to the top 25% of dividend payers in the Indian market (2.55%).


Stability and Growth of Payments

Stable Dividend: 517385's dividend payments have been volatile in the past 10 years.

Growing Dividend: 517385's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.1%), 517385's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 517385's dividends in 3 years are forecast to be well covered by earnings (41.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average board tenure


CEO

Achal Bakeri (59yo)

₹23,744,000

Compensation

Mr. Achal Anil Bakeri, MBA founded Symphony Limited in 1988 and serves as its Chairman and Managing Director. Mr. Bakeri is a Non-Executive Independent Director of Arvind Fashions Limited. Mr. Bakeri serve ...


CEO Compensation Analysis

Compensation vs Market: Achal's total compensation ($USD331.81K) is below average for companies of similar size in the Indian market ($USD640.58K).

Compensation vs Earnings: Achal's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Achal Bakeri
Founder0yrs₹23.74m45.26% 43.3b
Nrupesh Shah
Executive Director17.3yrs₹10.03m0.52% 493.7m
Reena Bhagwati
Woman Independent Non Executive Director1yrs₹40.00kno data
Santosh Nema
Independent Director0.6yrsno datano data
Jonaki Bakeri
Non-Executive Director5.5yrsno data0.0021% 2.0m
Naishadh Parikh
Lead Independent Director0yrs₹200.00kno data
Ashish Deshpande
lndependent Director1.8yrs₹140.00kno data

1.8yrs

Average Tenure

55yo

Average Age

Experienced Board: 517385's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Symphony Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Symphony Limited
  • Ticker: 517385
  • Exchange: BSE
  • Founded: 1988
  • Industry: Household Appliances
  • Sector: Consumer Durables
  • Market Cap: ₹95.600b
  • Shares outstanding: 69.96m
  • Website: https://www.symphonylimited.com

Number of Employees


Location

  • Symphony Limited
  • Symphony House
  • Third Floor
  • Ahmedabad
  • Gujarat
  • 380054
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
517385BSE (Mumbai Stock Exchange)YesEquity SharesININRJan 2002
SYMPHONYNSEI (National Stock Exchange of India)YesEquity SharesININRJan 2002

Biography

Symphony Limited manufactures and trades in residential, commercial, and industrial air coolers in India and internationally. The company offers residential and mobile commercial air coolers; packaged air coolers for various commercial, industrial, and residential uses; and central air cooling products for use in open and semi-open spaces in industries and commercial premises. It sells its products through a network of distributors, retailers, and e-commerce portals primarily under the Symphony brand name in approximately 60 countries. The company was formerly known as Symphony Comfort Systems Ltd. and changed its name to Symphony Limited in June 2010. Symphony Limited was founded in 1988 and is headquartered in Ahmedabad, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 12:46
End of Day Share Price2020/02/20 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.