Symphony Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for SYMPHONY, BSE:517385 Symphony Ltd.

Symphony Ltd.

06 Mar 2020

943.00

-1.71%

Event Update:Symphony

Buy: Symphony Ltd.

Axis Direct

Innovative new launches of higher margin products to drive top-line growth; low dependence on supplies from China and already procured components for upcoming season & available alternative sources, co will not be impacted by any potential supply chain disruption from China.

Symphony Ltd. has lost -18.71% in the last 1 Month

Symphony Ltd.

14 Feb 2020

943.00

-1.71%

Result Update:Symphony

Buy: Symphony Ltd.

Target

Axis Direct

Q3FY20 consol. Revenues grew 21% Y-o-Y at Rs 290 cr Vs Rs 240 cr in Q3FY19 led by higher volumes across segments. The Gross margins stood at 47.9% during the quarter (vs. 46.3% in Q3FY19) on higher sales growth, aided by better product mix.

Symphony Ltd. has lost -13.63% in the last 1 Week

Symphony Ltd.

12 Feb 2020

943.00

-1.71%

SYMPHONY LIMITED

Accumulate: Symphony Ltd.

Target

Geojit BNP Paribas

We expect earnings to grow at a healthy 25.9% CAGR over FY20-22, supported by launch of new models, improved product mix and continued focus on innovation. We upgrade our rating to ACCUMULATE on the stock, with our target price of Rs. 1,480 based on 35x FY22E EPS. Topline grows with new products Symphony reported revenue of Rs. 290cr in Q3FY20, a rise of 20.8% YoY, primarily driven by launch of new models (6 commercial coolers, 2 industrial coolers, and 8 household coolers), and improved product mix. Domestic revenue rose 27.1% YoY...

Symphony Ltd. has lost -21.78% in the last 6 Months

Symphony Ltd.

11 Feb 2020, 12:00AM

943.00

-1.71%

Symphony Ltd

Hold: Symphony Ltd.

Target

ICICI Securities Limited

We believe standalone volume growth in Q3 and 9MFY20 was on a low base and inventory build-up at dealer's level. According to the management, the company witnesses strong demand traction of residential coolers across channel partners in India. The management also reiterated that domestic demand is likely to remain robust with the start of summer in the coming months. Hence, FY20 is likely to close on a strong note. However, on the international subsidiaries, GSK China reported a revenue decline for Q3FY20 and 9MFY20 to 27% and 21% YoY to | 8 crore and | 37 crore, respectively....

Symphony Ltd. has an average target of 1082.00 from 2 brokers.

Symphony Ltd.

08 Feb 2020

943.00

-1.71%

Symphony (3QFY20): Good times continue Maintain BUY

Buy: Symphony Ltd.

Target

HDFC Securities

Summer 2019 confirms our thesis that Symphony will deliver strong performance if summer is hot. Organised air cooler market (27/35% volume/value mix) will deliver 15% CAGR despite rising affluence towards RAC. Symphony's constant focus on product innovation and superior franchise with distributors will make the company competitive. With low trade inventory, record and buoyed with new launches, Symphony will enjoy stocking in earnest if the summer is strong as expected. Besides, its international performance will improve given the various initiatives undertaken. Symphony posted strong 27/29% domestic rev/EBIT growth at a time when most consumer companies are facing issue is maintaining trade inventory amidst liquidity issue. Co has delivered 48/68% domestic rev/EBIT growth in 9MFY20. Strong franchise with trade, high brand recall, record new launches and favourable base are driving the domestic growth. We remain bullish on Symphony given its sharp recovery in domestic biz and scope to tap new opportunities (industrial and commercial cooling, portable coolers in Aus and US). We value Symphony at 45x Dec-21 EPS. We believe the stock will re-rate owing to consistent outperformance vs. other appliance cos. We maintain BUY with TP of Rs 1,786.

Symphony Ltd. has an average target of 1082.00 from 2 brokers.

Symphony Ltd.

29 Nov 2019

943.00

-1.71%

Result Update:Symphony

Buy: Symphony Ltd.

Target

Axis Direct

Q2FY20 consol. Revenues grew 13% Y-o-Y at Rs 272 cr Vs Rs 240 cr in Q2FY19 aided by healthy bookings in a seasonally weak quarter and channel replenishment following as strong summer season.

Symphony Ltd. has lost -13.63% in the last 1 Week

Symphony Ltd.

14 Nov 2019

943.00

-1.71%

Symphony (2QFY20): Back on the fast lane. Maintain BUY

Buy: Symphony Ltd.

Target

HDFC Securities

Summer 2019 confirms our thesis that Symphony will deliver strong performance if summer is hot. Organised air cooler market (27/35% volume/value mix) will deliver 15% CAGR despite rising affluence towards RAC. Symphony's constant focus on product innovation and superior franchise with distributors will make the company competitive. With trade inventory now at low levels, Symphony will enjoy off-season stocking, opportunity to launch tech-rich coolers and benefit from a favorable base. Besides, its international performance will improve given the various initiatives undertaken. Symphony continued its strong momentum in 2Q after a sharp recovery in summer-19. 2Q performance was in-line with expectations and further builds our confidence for a robust 2HFY20 show. We remain bullish on Symphony given its sharp recovery in domestic biz and scope to tap new opportunities (industrial and commercial cooling, portable coolers in Aus and US). We maintain estimates and value Symphony at 45x Sep-21 EPS. We believe the stock will re-rate owing to consistent outperformance vs. appliance cos. We maintain BUY with TP of Rs 1,812.

Symphony Ltd. has lost -43.14% in the last 1 Year

Symphony Ltd.

14 Aug 2019

943.00

-1.71%

SYMPHONY LIMITED

Hold: Symphony Ltd.

Target

Geojit BNP Paribas

We maintain our HOLD rating on the stock, given limited upside with our target price of Rs. 1,303 based on 40x FY21E adj. EPS. Topline doubled on higher seasonal demand and M&A; effect Symphony (SYML) posted 100.0% YoY growth in revenue to Rs. 304cr, largely driven by higher sales volume growth amid strong summer demand. Also, Q1FY20 marked the last quarter of incremental contribution (Rs. 69cr in Q1FY20) from Climate Technologies acquired in July-2018. Domestic market sales grew 124.2% YoY to Rs 148cr, largely driven by promotional initiatives and series of newly launched products....

Symphony Ltd. has lost -21.78% in the last 6 Months

Symphony Ltd.

05 Aug 2019

943.00

-1.71%

Result Update:Symphony

Buy: Symphony Ltd.

Axis Direct

Q1FY20 consol. Revenues doubled at Rs 292 cr Vs Rs 146 cr in Q1FY19 due robust demand during a seasonally strong quarter. The Gross margins stood at 45.5% during the quarter (vs. 42.6% in Q1FY19) on higher sales growth, aided by better product mix.

Symphony Ltd. has lost -18.71% in the last 1 Month

Symphony Ltd.

02 Aug 2019

943.00

-1.71%

Symphony (1QFY20): Back with a bang! Maintain BUY

Buy: Symphony Ltd.

Target

HDFC Securities

Summer 2019 confirms our thesis that Symphony will always delivered strongly if the season has no disruption. Organised air cooler market will deliver healthy growth despite rising affluence towards RAC. Symphony's constant focus on product innovation and superior franchise with distributors will make the company competitive. With trade inventory now at historical low levels, Symphony will enjoy off-season stocking, opportunity to launch tech-rich coolers and benefit from a favorable base. Besides, its international performance will improve given the various initiatives undertaken. Symphonys 1Q performance was a blowout, even beat our aggressive estimates. 1Q performance has proved the naysayers wrong about the relevance of air coolers (in the era of fast growing RAC) and Symphonys market share loss. Growth visibility for FY20E is high despite slowdown in macros owing to low channel inventory and new launches. We maintain our estimates and value Symphony at 45x Jun-21 EPS, arriving at a TP of Rs 1,686. Maintain BUY.

Symphony Ltd. has lost -24.75% in the last 3 Months

Is Symphony Ltd. worth buying?

192 Votes:

Buy 77.08%

Sell 9.9%

Hold 13.02%

RESEARCH REPORTS

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