Symphony Limited quarter results Q4 2021-2022

Symphony Limited: Robust profitability of International Business in FY 2021-22

INVC NEWS
New Delhi ,

Financial Highlights:

The Board of Directors have recommended a final dividend of ₹ 6 /- (300%) per equity share of ₹ 2/- each amounting to ₹ 41.97 cr. for FY 21-22. The total dividend for FY 21-22 aggregates to ₹ 9 /- (450%) per equity share of ₹ 2/- each amounting to ₹ 62.96 cr. which includes two interim dividends aggregating to ₹ 3/- (150%) per equity share paid during the year.

• Consolidated Gross Profit Margin at 45% (FY21: 45%) and EBITDA Margin at 19% (FY21: 18%), despite elevated raw material cost and logistic cost
• Consolidated PBIT stood ₹ 177 Cr. (+25% YoY Growth).  International Business contributed PBIT of ₹ 70 Cr. (FY21: ₹ 11 Cr.), registering the growth of 536% on YoY basis. Robust performance from International likely to continue.
• USA business generated sales of ₹ 133 Cr. (FY20: ₹ 48 Cr.), up by 177% in two years and by 55% in one year.
• Complete normalization of the trade inventory, driven by excellent sales across India
• April 2022 sales (Symphony India) is higher than historical highest ever April sales, after liquidation of massive trade inventory
• Good traction in sales through Large Format Space (LFS) and E-Commerce channels.
• Various measures of cost optimization, value engineering and many other initiatives in last two years yielding the result.

Outlook

• Upbeat on the domestic & overseas business and the strong sales growth trajectory to continue going forward.
• Close watch on input cost, logistic cost and supply chain
• Agile international supply chain being built to address emerging logistic and raw material cost dynamics
• Increasing traction for LSV, driven by new products, better cost structure, and Above the Line (ATL) advertising spends.