Symphony Q3 Review: Gradual Recovery In Domestic Business: ICICI Direct 
A model of an air conditioner cooler. (Photographer: Patrick T. Fallon/Bloomberg)

Symphony Q3 Review: Gradual Recovery In Domestic Business: ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Symphony Ltd.’s standalone and overseas business has seen a gradual recovery on a QoQ basis. However, YoY recovery was still approximately 74% of previous year.

According to company, the trade sentiment in the domestic markets were positive and company has witnessed stock out situation in some of the geographies. The inventory level is normalised with channel partners and the company expects good volume offtake from Q4 FY21 onwards.

On the subsidiaries front, climate technologies Australia performance remained impacted due to supply issues and lower operating leverage.

Click on the attachment to read the full report:

ICICI Direct Symphony Q3FY21 Result Update.pdf

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