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    Symphony to focus on industrial coolers, geographical expansion

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    Symphony to focus on industrial coolers, geographical expansion

    Air-cooler maker Symphony is focusing on industrial coolers as well as geographical expansion, going forward, said Nrupesh Shah, ED of the company.
    “Industrial cooling is high value product but having said that depending upon the kind and type of installation, small area to large area the ticket size varies, but certainly it is substantially higher than residential air cooler,” Shah said.
    The Symphony stock has lost 17% this week. The company posted a weak set of earnings as revenue declined and volumes were low, while unseasonal rains dampened their sales during the quarter.
    January and February saw robust growth. However, unseasonal rains in March dampened the demand, said Shah.
    Talking about performance, he said, “on consolidated basis, topline has grown by 5% and same is the case on standalone basis on year-on-year, while profit after tax (PAT) on a consolidated basis is up from Rs 166 crore to Rs 193 crore, up by about 16%.”
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