Symphony Q4 - Higher Domestic Demand To Result In Strong Earnings Traction; Upgrade To Buy: Yes Securities

"NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.Symphony Ltd. on consolidated basis reported lower than expected revenue on back of subdued performance of climate technologies AU as demand headwind continues to persist. Domestic air-cooling segment grew 5% YoY despite the strong base effect, fuelled by searing summer with above normal temperatures. Gross margins have seen strong expansion of 720 basis points on back of tactical pricing, value engineering and softening of input costs. Higher gross margin along with improved performance of subsidiaries has resulted in expansion in Ebitda margin. Subsidiaries has seen 12% YoY revenue growth on back of strong summer tailwind in Mexico and Brazil and improving performance of CT Australia and GSK China. Symphony is currently witnessing strong demand traction in the domestic market on back of heat waves across the country. Southern, Western and Eastern regions have seen strong sales, while soaring temperatures in northern states would provide strong tailwind in Q1. On the international front Mexico, China and Brazil are already witnessing improved performance, management has already started to implement asset light model in CT Australia. Considering strong demand trends in the domestic market and improvement of subsidiaries performance, we upgrade the stock to Buy with target price of Rs 1,200 valuing the company at 40 times FY26 earnings per share..Click on the attachment to read the full report:.Sona Comstar Q4 Results Review - Decent Quarter; Downgrade To Neutral: Yes Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Symphony Q4 - Higher Domestic Demand To Result In Strong Earnings Traction; Upgrade To Buy: Yes Securities

We expect strong Q1 for domestic air-cooling industry and Symphony being market leader will more likely be the beneficiary resulting in market share gains

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Symphony Q4 - Higher Domestic Demand To Result In Strong Earnings Traction; Upgrade To Buy: Yes Securities

We expect strong Q1 for domestic air-cooling industry and Symphony being market leader will more likely be the beneficiary resulting in market share gains

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