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Symphony

BSE:517385
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
517385
BSE
₹86B
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company description

Symphony Limited engages in the manufacture and trading of residential, commercial, and industrial air coolers in India and internationally. The last earnings update was 34 days ago. More info.


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517385 Share Price and Events
7 Day Returns
0.9%
BSE:517385
0.6%
IN Consumer Durables
0%
IN Market
1 Year Returns
-16.1%
BSE:517385
-8.4%
IN Consumer Durables
-1.1%
IN Market
517385 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Symphony (517385) 0.9% 2.4% -13.1% -16.1% -2.4% 135.6%
IN Consumer Durables 0.6% 0.8% -2.5% -8.4% 50.2% 171.8%
IN Market 0% -1.8% -0.4% -1.1% 31.5% 36.1%
1 Year Return vs Industry and Market
  • 517385 underperformed the Consumer Durables industry which returned -8.4% over the past year.
  • 517385 underperformed the Market in India which returned -1.1% over the past year.
Price Volatility
517385
Industry
5yr Volatility vs Market

517385 Value

 Is Symphony undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Symphony to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Symphony.

BSE:517385 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 15.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:517385
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.874 (1 + (1- 35%) (2.17%))
0.924
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.924 * 8.6%)
15.49%

Discounted Cash Flow Calculation for BSE:517385 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Symphony is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:517385 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 15.49%)
2019 1,397.00 Analyst x1 1,209.59
2020 1,406.00 Analyst x4 1,054.07
2021 1,667.67 Analyst x3 1,082.52
2022 1,899.98 Est @ 13.93% 1,067.87
2023 2,128.28 Est @ 12.02% 1,035.72
2024 2,355.50 Est @ 10.68% 992.52
2025 2,584.89 Est @ 9.74% 943.06
2026 2,819.65 Est @ 9.08% 890.71
2027 3,062.77 Est @ 8.62% 837.72
2028 3,317.00 Est @ 8.3% 785.54
Present value of next 10 years cash flows ₹9,899.33
BSE:517385 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹3,317.00 × (1 + 7.55%) ÷ (15.49% – 7.55%)
₹44,910.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹44,910.28 ÷ (1 + 15.49%)10
₹10,635.84
BSE:517385 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹9,899.33 + ₹10,635.84
₹20,535.17
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹20,535.17 / 69.96
₹293.54
BSE:517385 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹293.54
Current discount Discount to share price of ₹1,216.85
= -1 x (₹1,216.85 - ₹293.54) / ₹293.54
-314.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Symphony is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Symphony's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Symphony's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:517385 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹13.09
BSE:517385 Share Price ** BSE (2019-06-25) in INR ₹1216.85
India Consumer Durables Industry PE Ratio Median Figure of 42 Publicly-Listed Consumer Durables Companies 28.27x
India Market PE Ratio Median Figure of 2,825 Publicly-Listed Companies 15.38x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Symphony.

BSE:517385 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:517385 Share Price ÷ EPS (both in INR)

= 1216.85 ÷ 13.09

92.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Symphony is overvalued based on earnings compared to the IN Consumer Durables industry average.
  • Symphony is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Symphony's expected growth come at a high price?
Raw Data
BSE:517385 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 92.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
36.6%per year
India Consumer Durables Industry PEG Ratio Median Figure of 13 Publicly-Listed Consumer Durables Companies 2.12x
India Market PEG Ratio Median Figure of 523 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

BSE:517385 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 92.96x ÷ 36.6%

2.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Symphony is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Symphony's assets?
Raw Data
BSE:517385 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹81.59
BSE:517385 Share Price * BSE (2019-06-25) in INR ₹1216.85
India Consumer Durables Industry PB Ratio Median Figure of 48 Publicly-Listed Consumer Durables Companies 1.58x
India Market PB Ratio Median Figure of 3,653 Publicly-Listed Companies 0.96x
BSE:517385 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:517385 Share Price ÷ Book Value per Share (both in INR)

= 1216.85 ÷ 81.59

14.92x

* Primary Listing of Symphony.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Symphony is overvalued based on assets compared to the IN Consumer Durables industry average.
X
Value checks
We assess Symphony's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)
  5. Symphony has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

517385 Future Performance

 How is Symphony expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
36.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Symphony expected to grow at an attractive rate?
  • Symphony's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Symphony's earnings growth is expected to exceed the India market average.
  • Symphony's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
BSE:517385 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:517385 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 36.6%
BSE:517385 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 17.8%
India Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 20%
India Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 12.3%
India Market Earnings Growth Rate Market Cap Weighted Average 16.6%
India Market Revenue Growth Rate Market Cap Weighted Average 9.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:517385 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:517385 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 12,179 1,824 2,179 5
2020-03-31 10,498 1,618 1,786 5
BSE:517385 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 8,440 920
2018-12-31 7,863 1,265
2018-09-30 7,653 1,545
2018-06-30 7,543 1,736
2018-03-31 7,983 1,069 1,925
2017-03-31 7,648 946 1,663
2016-04-01 5,941 1,180 1,578

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Symphony's earnings are expected to grow significantly at over 20% yearly.
  • Symphony's revenue is expected to grow by 17.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:517385 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Symphony Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:517385 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 30.92 37.82 27.80 6.00
2020-03-31 25.30 31.10 22.20 6.00
BSE:517385 Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 13.09
2018-12-31 18.14
2018-09-30 22.17
2018-06-30 24.86
2018-03-31 27.52
2017-03-31 23.77
2016-04-01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Symphony is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Symphony's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Symphony has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

517385 Past Performance

  How has Symphony performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Symphony's growth in the last year to its industry (Consumer Durables).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Symphony's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Symphony's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Symphony's 1-year earnings growth is negative, it can't be compared to the IN Consumer Durables industry average.
Earnings and Revenue History
Symphony's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Symphony Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:517385 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 8,440.00 920.00 1,360.00
2018-12-31 7,862.55 1,265.49 1,349.43
2018-09-30 7,652.55 1,545.49 1,219.43
2018-06-30 7,542.50 1,735.50 1,025.20
2018-03-31 7,982.55 1,925.49 1,139.43
2017-03-31 7,647.53 1,662.84 1,182.64
2016-04-01 5,940.62 1,578.20 723.23
2015-06-30 5,258.74 1,159.12 815.86
2014-06-30 5,327.02 1,064.53 1,215.94 18.35
2013-06-30 3,780.16 602.24 891.08 13.44
2012-06-30 3,138.08 531.11 733.57 11.15

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Symphony has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Symphony used its assets more efficiently than the IN Consumer Durables industry average last year based on Return on Assets.
  • Symphony's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Symphony's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Symphony has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

517385 Health

 How is Symphony's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Symphony's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Symphony is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Symphony's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Symphony's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Symphony Company Filings, last reported 2 months ago.

BSE:517385 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 6,700.00 1,870.00 3,260.00
2018-12-31 6,490.00 1,710.00 4,550.00
2018-09-30 6,490.00 1,710.00 4,550.00
2018-06-30 6,116.10 255.50 2,762.80
2018-03-31 6,116.13 255.52 2,692.09
2017-03-31 4,650.53 193.46 2,299.68
2016-04-01 3,282.54 0.00 429.54
2015-06-30 3,062.12 0.00 1,182.47
2014-06-30 2,757.77 0.00 655.66
2013-06-30 2,222.07 0.00 1,348.49
2012-06-30 1,891.49 74.57 809.53
  • Symphony's level of debt (27.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 27.9% today).
  • Debt is well covered by operating cash flow (57.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 17.4x coverage).
X
Financial health checks
We assess Symphony's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Symphony has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

517385 Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.37%
Current annual income from Symphony dividends. Estimated to be 0.6% next year.
If you bought ₹2,000 of Symphony shares you are expected to receive ₹7 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Symphony's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.54%).
  • Symphony's dividend is below the markets top 25% of dividend payers in India (2.12%).
Upcoming dividend payment

Purchase Symphony before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:517385 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
India Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 0.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1449 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:517385 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 8.10 3.00
2020-03-31 6.00 2.00
BSE:517385 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-22 4.500 0.348
2018-08-07 6.000 0.532
2018-05-22 6.000 0.447
2018-01-23 4.000 0.225
2017-08-10 4.000 0.266
2017-05-16 4.000 0.297
2016-03-10 7.500 0.604
2016-01-28 7.500 0.694
2015-08-13 7.000 0.686
2015-01-19 7.500 0.685
2014-08-28 6.500 0.774
2014-07-31 6.500 1.136
2013-11-22 3.250 1.070
2013-08-05 3.250 2.003
2012-11-30 1.500 0.879
2011-11-30 1.000 0.755
2010-12-22 0.250 0.215
2009-09-30 0.100 0.372
2009-07-31 0.100 1.240

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Symphony's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.8x coverage).
X
Income/ dividend checks
We assess Symphony's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Symphony afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Symphony has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

517385 Management

 What is the CEO of Symphony's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Achal Bakeri
COMPENSATION ₹23,757,000
AGE 58
CEO Bio

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 served as the Chief Executive Officer at Symphony Limited until May 26, 2012 and also served its President. He has rich and varied experience of about 2 decades in various fields including constructions, exports, technical, manufacturing, designing etc. He has been a Director of Symphony Limited since December 1, 1992. He serves as a Director of Symphony Designer Properties Pvt. Ltd., Bakeri Engineering &Infrastructure Ltd., Harmony Holdings Pvt. Ltd., Oras InvestmentsPvt. Ltd., Paratam Investments Pvt. Ltd., and Bakeri Urban Development Pvt. Ltd. Mr. Bakeri holds Architect, MBA from University of Southern California.

CEO Compensation
  • Achal's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Achal's remuneration is lower than average for companies of similar size in India.
Management Team

Achal Bakeri

TITLE
Founder
COMPENSATION
₹24M
AGE
58

Bhadresh Mehta

TITLE
CFO and Senior VP of Finance & Accounts
COMPENSATION
₹5M
AGE
58

Mayur Barvadiya

TITLE
Compliance Officer & Company Secretary
COMPENSATION
₹3M
TENURE
2.9 yrs

Nrupesh Shah

TITLE
Executive Director
COMPENSATION
₹16M
AGE
54

Vijay Joshi

TITLE
Chief Operating Officer
AGE
55

Jayesh Gupta

TITLE
Vice President of Sales
AGE
57

Rajesh Mishra

TITLE
Vice President of Marketing
AGE
47

Nitendra Patel

TITLE
Associate Vice President of HRD

Falgun Shah

TITLE
Chief Innovation Officer

Juan Bendeck

TITLE
CEO & General Director of IMPCO S de R L De CV
AGE
52
Board of Directors Tenure

Average tenure and age of the Symphony board of directors in years:

3.8
Average Tenure
58
Average Age
  • The tenure for the Symphony board of directors is about average.
Board of Directors

Nrupesh Shah

TITLE
Executive Director
COMPENSATION
₹16M
AGE
54
TENURE
16.7 yrs

Dipak Palkar

TITLE
Independent Non Executive Director
COMPENSATION
₹200K
AGE
65
TENURE
13.5 yrs

Achal Bakeri

TITLE
Founder
COMPENSATION
₹24M
AGE
58

Naishadh Parikh

TITLE
Independent Non-Executive Director
COMPENSATION
₹200K
AGE
63
TENURE
3.8 yrs

Jonaki Bakeri

TITLE
Non-Executive Director
COMPENSATION
₹50K
TENURE
4.8 yrs

Ashish Deshpande

TITLE
lndependent Director
AGE
51
TENURE
1.1 yrs

Reena Bhagwati

TITLE
Woman Independent Non Executive Director
AGE
52
TENURE
0.3 yrs

Santosh Nema

TITLE
Independent Director
AGE
59
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
29. Jun 18 Sell Nrupesh Shah Individual 25. Jun 18 29. Jun 18 -28,753 ₹1,482.26 ₹-42,165,587
X
Management checks
We assess Symphony's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Symphony has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

517385 News

Simply Wall St News

517385 Company Info

Description

Symphony Limited engages in the manufacture and trading of 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 factories, offices, schools, malls, assembly halls, warehouses, and metro stations. It sells its products through a network of distributors and retailers, e-commerce portals, and TV shopping channels primarily under the Symphony brand name in approximately 60 countries products. 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.

Details
Name: Symphony Limited
517385
Exchange: BSE
Founded: 1988
₹85,977,153,000
69,957,000
Website: http://www.symphonylimited.com
Address: Symphony Limited
Symphony House,
Third Floor,
Ahmedabad,
Gujarat, 380054,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 517385 Equity Shares Mumbai Stock Exchange IN INR 22. Jan 2002
NSEI SYMPHONY Equity Shares National Stock Exchange of India IN INR 22. Jan 2002
Number of employees
Current staff
Staff numbers
0
Symphony employees.
Industry
Household Appliances
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/25 12:41
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/05/24
Last earnings filing: 2019/05/22
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.