SYMPHONY – A Comfort to hold for Long term?

Notes from some recent calls.

09.12.2022 CNBC interview

• Targeting ambitious sales growth in H2FY23. Medium term goal is to grow sales at 20%
• Raw material prices have come down but are higher vs last year. Price hikes have been between 5-14% depending on models in last 6-months
• Should reach normal EBITDA margins by June 2023
• Witnessing pressure from USA, orders have been cut and this will get reflected in December and March quarters

07.06.2023 CNBC

25.12.2023 BQ

• FY25 promises to be much better, business is at trough right now and will only get better
• Australia fund infusion of 82 cr. is to largely repay debt
• Australian real estate business is improving which should positively impact Symphony, this is similar to transformation in Mexican operations after 2008 GFC crisis

Disclosure: Not invested (no transactions in last-30 days)