Reduce Symphony, target price Rs 1300: HDFC Securities

HDFC Securities has reduce call on Symphony with a target price of Rs 1300. The current market price of Symphony Ltd. is Rs 1694.95.

Symphony Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 11785.44 Crore) operating in Consumer Durables sector.

Symphony Ltd. key Products/Revenue Segments include Air Coolers, Others and Other Operating Revenue for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 540.00 Crore, up 58.36 % from last quarter Total Income of Rs 341.00 Crore and up 69.81 % from last year same quarter Total Income of Rs 318.00 Crore. Company reported net profit after tax of Rs 88.00 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 73.39 per cent stake in the company as of 30-Jun-2024, while FIIs owned 4.83 per cent, DIIs 9.98 per cent.