Nrupesh Shah, Executive Director, Symphony Limited
Nrupesh Shah, Executive Director, Symphony Limited

Symphony Limited: Robust profitability of International Business in FY 2021-22

INVC NEWS
New Delhi ,

Financial Highlights:

 

  (₹ Cr.)
Particulars Consolidated Standalone
Year ended March 2022 Year ended March 2021 YoY growth

(%)

Year ended March 2022 Year ended March 2021 YoY Growth (%)
Sales 1,035 897 15% 637 486 31%
Net Profit 121 107 13% 111 112 -1%
EPS (₹) (on face value of ₹ 2 each) 17.20 15.35 12% 15.84 16.06 -1%

The Board of Directors have recommended a final dividend of ₹ 6 /- (300%) per equity share of ₹ 2/- each amounting to ₹ 41.97 cr. for FY 21-22. The total dividend for FY 21-22 aggregates to ₹ 9 /- (450%) per equity share of ₹ 2/- each amounting to ₹ 62.96 cr. which includes two interim dividends aggregating to ₹ 3/- (150%) per equity share paid during the year.

  • Consolidated Gross Profit Margin at 45% (FY21: 45%) and EBITDA Margin at 19% (FY21: 18%), despite elevated raw material cost and logistic cost
  • Consolidated PBIT stood ₹ 177 Cr. (+25% YoY Growth).  International Business contributed PBIT of ₹ 70 Cr. (FY21: ₹ 11 Cr.), registering the growth of 536% on YoY basis. Robust performance from International likely to continue.
  • USA business generated sales of ₹ 133 Cr. (FY20: ₹ 48 Cr.), up by 177% in two years and by 55% in one year.
  • Complete normalization of the trade inventory, driven by excellent sales across India
  • April 2022 sales (Symphony India) is higher than historical highest ever April sales, after liquidation of massive trade inventory
  • Good traction in sales through Large Format Space (LFS) and E-Commerce channels.
  • Various measures of cost optimization, value engineering and many other initiatives in last two years yielding the result.

 

Outlook

  • Upbeat on the domestic & overseas business and the strong sales growth trajectory to continue going forward.
  • Close watch on input cost, logistic cost and supply chain
  • Agile international supply chain being built to address emerging logistic and raw material cost dynamics
  • Increasing traction for LSV, driven by new products, better cost structure, and Above the Line (ATL) advertising spends.

LEAVE A REPLY

Please enter your comment!
Please enter your name here