[ad_1]
Symphony Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 6037.99 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-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 288.00 Crore, down -15.54 % from last quarter Total Income of Rs 341.00 Crore and up 25.76 % from last year same quarter Total Income of Rs 229.00 Crore. Company reported net profit after tax of Rs 32.00 Crore in latest quarter.
Investment Rationale
The brokerage remains positive on the domestic business outlook (led by low channel inventory); however, due to weak profitability for CT, it cuts FY23/24/25 EPS by 5/3/3%. It values the stock at 35x P/E on Sep’24E EPS and derive a TP of INR 1,150.
Promoter/FII Holdings
Promoters held 73.25 per cent stake in the company as of 30-Jun-2022, while FIIs owned 4.33 per cent, DIIs 10.9 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
[ad_2]
Source link
