Scripscan:Symphony ltd
code:517385
Cmp:1100
Story:Symphony Limited primarily engages in the manufacture, sale, and export of various consumer durable goods under the Symphony brand name.It offers window and split air conditioners; and evaporative air coolers comprising tower, desert, room, and personal coolers.The company also provides instant and storage water heaters under the Sauna brand name. Symphony Limited sells its products in the United States, Europe, the Middle East, Africa, and southeast Asia.It posses excellent tie-up with many large permit stores, including Wal-Mart,Sears, Electra in America etc.Symphony also recently has increased its stake to 100% in Mexico-based Impco Air Coolers and expects the new acquisition to post reasonable profits in the present fiscal.Impco is primarily focused on centralised air cooling and will provide new revenue sources to Symphony. This will further consolidate Symphony’s position in the global air cooler space.Its SEZ in surat for manufacturing air coolers has got operational from April end.The company has already dispatched and sold a few thousands of units from SEZ starting from April itself.The company aims to hit a turnover of Rs.500 crore by FY14.Valuation wise its quoting at single digit earnings which leaves room for a bit more capital appreciation in the medium term.Stay invested for the next 3 years to get decent 20-25% CAGR returns from the counter.
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