Key points from Mr Nrupesh shah’s interview on Bloomberg.
Regarding MKE acquisition:
1) China has a trade agreement with several south east Asian nations. Symphony sees this as a doorway to that market.
2) While Indian exporters have to go and search for customers in the international market, western companies approach Chinese manufacturers on their own. Symphony sees this as a opportunity for accessing this western mkt.
3) MKE’s R&D facility is one of the best in Asia. Better than symphonys, it matches US & Australian standards.
Regarding new competition in domestic MKT:
- Symphony has been in the air cooler market for 27 years. They ‘know’ the customers and the traders expectations. Air coolers while looking like a simple white box has 200 parts in it. Symphony’s 100% focus on air coolers allows them to provide better products, newer products with customer centric features and esthetics ( in comparison to air coolers just being one other product in competitors portfolio).
They are confident of maintaining their market share (45%-50%). + growth from the unbranded to branded aspirational shift .
Future growth drivers:
1) Domestic market – Short term to medium term growth
2) International market – Medium term to long term growth . International mkt currently contributing 15%. They will take it to 50%.
3) Industrial coolers – Long term growth.
| Subscribe To Our Free Newsletter |
