Strong sales growth due to extended summer: Revenues (standalone) grew 38% YoY to INR1,526m in 1QFY17 (v/s estimate of INR1,608m), mainly driven by volume growth, with management also clarifying that there was no major price increase. Growth was also supported by new models launched over the past year. EBITDA margin expanded 740bp YoY to 25.6% on account of better operating efficiency and economies of scale. EBITDA grew 93% YoY to INR390m in the quarter. PAT posted 39% YoY growth to INR311m. Management highlighted that Symphony air coolers continues to be the market leader with a share of 50%.Motilal Oswal maintain our Sell recommendation with a target price of INR1,909, 28x FY18E EPS.Trendlyne has 6 reports on SYMPHONY updated in the last year from 3 brokers with an average target of Rs 2308.3. Brokers have a rating for SYMPHONY with 1 price upgrade in past 6 months.