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Leading air cooler company Symphony Ltd on Thursday announced entering the league of firms with market capitalisation crossing the ₹10,000-crore mark.
Symphony’s share price on Thursday touched a new high of ₹2,889.90 a share intraday and closed at ₹2,870.55 a share on the BSE. Its market capitalisation touched a high of ₹10,108.78 crore intraday and closed at ₹10,040.75 crore, according to a company statement.
Phenomenal returns Achieving a major turnaround in the last decade, the Ahmedabad-based company’s share price increased from ₹1.35 a share as of April 7, 2005, to ₹2,980 a share on Friday — a rise of over 2,126 fold.
Achal Bakeri, Chairman and Managing Director, said ₹1,000 invested in the shares of Symphony Ltd on April 7, 2005, has grown to ₹21.26 lakh now. In the last one year, the company’s share price increased by 296 per cent from ₹725.20 a share on April 9, 2014.
Symphony is in the process of applying for Leadership in Energy & Environment Design (LEED) building certification developed by US Green Building Council, he added.
Symphony is the market leader in the Indian air cooler industry with 50 per cent market share (in value terms) among the organised players.
Decent numbers As on December 2014, the promoter holding in the company stood at 75 per cent while a total of 56 institutions, including 38 foreign institutions, hold 7.15 per cent in the company and over 10,000 retail investors hold 9.38 per cent.
For the year ended June 30, 2014, Symphony posted net profit of ₹105.72 crore on a turnover of ₹532.42 crore. In the last five years, the company’s sales grew at a CAGR of 34 per cent, while the number for net profit was 30 per cent. It had reserves and surplus of ₹268.84 crore as on June 2014.
Globally, Symphony’s products have been endorsed by a number of corporate giants, namely General Electric, Wal-Mart Stores, Lear Corporation, Jamarat Complex (Saudi Arabia), Carrefour (Indonesia) and more than 100 supermarkets in Mexico.
Symphony possesses the largest number of trademarks and registered designs in the international air cooler industry — 108 trademarks, 49 registered designs, 7 copyrights and 8 patents. The company has been awarded the Guinness World Record for creating the world’s largest functioning air coolers.
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