Symphony posted strong Q4 earnings, its revenue rose around 35 percent this quarter and margins have also expanded significantly for the company.

Nrupesh Shah, ED of Symphony said, “On account of continuous innovation it’s a very strong brand and our thrust on rural as well semi-urban market it has been like a generation gap in terms of variety of model for Symphony products. As we had said, recovery might be delayed but no way recovery is derailed.”

“Right until last week of April the demand was there and the sentiments were very strong. As far as our Australian subsidiary is concerned March quarter has been a turnaround quarter and now looking forward we expect it to perform as it was originally estimated.”

On revenues, Shah said, “We are quite optimistic; last summer it was the peak of the season and unfortunately stringent lockdown was imposed, again back to back in the second summer there has been a major COVID crisis. Still, two months of the quarter has to go and as of today, the performance even in the quarter is good. So by and large if your June quarter is in line with June 2019 we expect it to achieve that and maybe even to surpass that.”

On input costs, he said, “Whatever was input cost increased or freight cost increased on account of our value engineering and series of cost utilisation initiatives we could very well maintain our profitability margin.”

“However, post-December 31st there has been a steep rise in the metal costs, raw material cost apart from that freight cost and few other variable cost and hence for the quarter of March 21 our gross profit margin is slightly down. However, over a period of time in few phases, we expect to improve that further.”

For the full interview, watch the accompanying video.

(Edited by : Ajay Vaishnav)

First Published:Apr 28, 2021 2:15 PM IST