We expects sales to recover from Q2FY21 onwards supported by new models of commercial and industrial coolers, once lockdown is lifted. We reiterate our ACCUMULATE rating on the stock with a target price of Rs. 1,006 based on 33x FY22E adj. EPS. Nation-wide lockdown slows down pace of topline growth In Q4FY20, Symphony reported revenue of Rs. 249cr, a rise of 6.0%YoY with its new product launches (6 commercial coolers, 2 industrial coolers, and 8 household coolers) during 2019 and product mix. On annual basis, the revenue grew to Rs. 1,103cr...