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Symphony Limited Consolidated PAT ₹ 107 Cr. in FY 2020-21

by News Monks
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Financial Highlights:

(₹ Crores)
ParticularsStandaloneConsolidated
Quarterended March 2021Quarterended March 2020Quarterended March 2021Quarterended March 2020
Sales211154337248
Net Profit49456340
EPS (₹) (on face value of ₹ 2 each)7.096.489.055.65

Consolidated sales of Q4 is up by 36 % to ₹ 337 cr. v/s ₹ 248 cr. in Q4 19-20 due to increase in sales in Symphony India and Climate Technologies. Consolidated PAT is up by 58 % to ₹ 63 cr. v/s ₹ 40 cr. in Q4 19-20.

Standalone sales of Q4 is up by 37% to ₹ 211 cr.  v/s ₹ 154 cr. in Q4 19-20. Standalone PAT is up by 9% to ₹ 49 cr. for Q4 20-21 v/s ₹ 45 cr. in Q4 19-20 due to good demand for the Company’s product.

Consolidated PAT ₹ 107 cr. in 20-21 vs. ₹ 182 cr. in 19-20. Consolidated Sales ₹ 897 cr. in 20-21 v/s ₹ 1100     cr. in 19-20. Covid-19 has affected the sales of Symphony India, Impco Mexico and GSK China.

Standalone PAT down by 40% % to ₹ 112 cr. in 20-21 v/s ₹ 186 cr. in 19-20. Standalone sales down to ₹ 486 cr.  in 20-21 v/s ₹ 714 cr. in 19-20 due to worldwide outbreak of Covid19 since it hit during peak summer months. i.e. in Q1. Despite strong summer temperatures generating high demand for the company’s products and despite adequate availability of products with the channel, the lockdown prevented sales from taking place. Due to this unsold channel inventory purchases by the channel from the company were also impacted during the year.

The Board of Directors have recommended a final dividend of ₹ 4 /- (200%) per equity share of ₹ 2/- each amounting to ₹ 27.98 cr. for FY 20-21. The total dividend for FY 20-21 aggregates to ₹ 5 /- (250%) per equity share of ₹ 2/- each amounting to ₹ 34.98 cr. which includes one interim dividend of ₹ 1/- (50%) per equity share paid during the year. 

April 27, 2021: Mr. Nrupesh Shah, Executive Director of Symphony Ltd. has commented:

  • The sales in March, 21 quarter in Symphony India as well as Symphony subsidiaries witnessed strong rebound coupled with PAT growth.
  • The strong rebound is reflection of continuous innovation, strong brand and sustained performance even in challenging environment of pandemic.
  • E- commerce sales is witnessing good growth. The Company has also started D2C online sales.

Outlook

Having a premium brand with various path breaking models for household, commercial and industrial needs and being a market leader, we are quite optimistic for a growth and performance in medium to long term period. The recovery is delayed but not derailed.

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