Symphony Limited: Robust profitability of International Business in FY22

4 May 2022 , 12:07 PM

Financial Highlights:

	(Rs Cr.)
Particulars	Consolidated	Standalone
Year ended March 2022	Year ended March 2021	YoY growth (%)	Year ended March 2022	Year ended March 2021	YoY Growth (%)
Sales	1,035	897	15%	637	486	31%
Net Profit	121	107	13%	111	112	-1%
EPS (Rs) (on face value of Rs 2 each)	17.20	15.35	12%	15.84	16.06	-1%

 
The Board of Directors have recommended a final dividend of Rs 6 /- (300%) per equity share of Rs 2/- each amounting to Rs 41.97 crore. for FY 21-22. The total dividend for FY 21-22 aggregates to Rs 9 /- (450%) per equity share of Rs 2/- each amounting to Rs 62.96 crore. which includes two interim dividends aggregating to Rs 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 Rs 177 Crore. (+25% YoY Growth).  International Business contributed PBIT of Rs 70 Crore. (FY21: Rs 11 Crore.), registering the growth of 536% on YoY basis. Robust performance from International likely to continue.
• USA business generated sales of Rs 133 Crore. (FY20: Rs 48 Crore.), 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.