Here’s What Symphony Is Doing To Boost Sales In Australia
The company is adding a range of products from India to spur sales in the South Pacific continent.
Symphony Ltd. is taking measures to boost sales in Australia after the revenue of its international subsidiary remained little changed in the quarter ended September.
“Unfortunately for us, in the first year itself, the summer in Australia wasn’t very favourable. So, the sale of air coolers didn’t quite happen as expected,” Achal Bakeri, chairman and managing director of the capital goods maker, told BloombergQuint in an interview.
“We have initiated several measures to improve operations of the company, to bring down the cost of goods sold and the cost of doing business,” Bakeri said. In a first, it’s Australian arm Climate Technologies Pty Ltd. is adding a range of products from India to the South Pacific continent to spur sales, he said.
While the winter sales of heaters in Australia offset weak summer sales to an extent, Symphony’s overall operating margins were impacted nevertheless as the margin of heaters is lower than that of coolers, he said. “We don’t expect the top line to grow by leaps and bounds. It will probably be in low double digits. But the bottom line should improve significantly.”
WATCH | Achal Bakeri, chairman and MD of Symphony Ltd., speaks to BloombergQuint