Symphony Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 5890.38 Crore) operating in Consumer Durables sector.
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Promoters held 75 per cent stake in the company as of June 30, 2020, while FIIs held 4.9 per cent, DIIs 10.1 per cent and public and others 10 per cent.
Anand Rathi has given buy rating to Symphony with a target price of Rs 1070. The share price moved up by by 1.79 per cent from its previous close of Rs 830.15 . The stock’s last traded price is Rs 845.
Symphony Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 5890.38 Crore) operating in Consumer Durables sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 154.00 Crore, down 38.15 % from last quarter Sales of Rs 249.00 Crore and down 47.26 % from last year same quarter Sales of Rs 292.00 Crore. The Company reported net profit after tax of Rs 2.00 Crore in latest quarter.
Investment Rationale After the Q1FY21 results, to factor in the uncertainties ahead in the domestic market and at its global subsidiaries, we revise our estimates. The brokerage has lowered FY21/FY22 revenue/PAT ~23%/27% resulting in the RoCE falling from 28% in FY20 to 17%/22% in FY21/FY22. Risks: The company’s ability to operate on a cash & carry basis can be under pressure in FY21 as channel partners are reeling under financial pressure.
Promoter/FII Holdings Promoters held 75 per cent stake in the company as of June 30, 2020, while FIIs held 4.9 per cent, DIIs 10.1 per cent and public and others 10 per cent.
