History

_x000D_ Symphony pioneered branded air coolers in India in 1988. Thereafter, the company went public in 1994. In 1999-2000, the company successfully launched 4 new models in the air cooler category, e.g. Sumo, Ninja, Mini Sumo and S-4700. In fact, the company's air coolers found entry into the Guinness Book of World Records. It had developed the world's largest working model of an air cooler, which was 14 feet in height._x000D_ _x000D_ In 2005, Symphony launched the first-ever cooler that had 4-side cooling. In 2008, the company introduced coolers with power-saving technology. In 2009, Symphony acquired IMPCO, the company that had originally introduced the air cooler to the world. In 2010, the company introduced Central Air Cooling Solutions, and it also became India’s largest commercial air cooling project. Another first initiative of Symphony was to define the cooling capacity of air coolers in terms of tons of cooling, as in air-conditioning._x000D_ _x000D_ In 2019, the company introduced a range of portable commercial air coolers as well as the world’s first universal air coolers manufactured in India. The following year, it launched a wide range of accessories for industrial and commercial air coolers. The company also launched 19 new models in FY 2022-23._x000D_

Business Segments

_x000D_ In accounting terms, the company has 2 reportable segments, viz. ‘Aircooling and other appliances’ and ‘Corporate Funds’. However, 97% of the firm’s revenue comes from the first. Geographically, 66% of its revenue comes from India, while the rest comes from the rest of the world._x000D_ _x000D_ In terms of products, the company offers the following categories:_x000D_

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1. Household Air Coolers - These are coolers for house rooms. Models include the Windblast 70 XL Desert Air Cooler, Sumo 75 XL DD SP2, etc.
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2. Commercial Air Coolers - These are large space commercial coolers such as the Movicool L 65-S Commercial Cooler (65-litres).
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3. Large Space Venti-Cooling - Designed for open and semi-open spaces, this category serves textile, petrochemical and showrooms.
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4. Tower Fans - These are useful inside the house, such as drawing room, study, kitchen, etc.
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_x000D_ Subsidiaries_x000D_ _x000D_ The company has 6 overseas subsidiary companies:_x000D_

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1. IMPCO S. de R. L. de C.V. (IMPCO) - This subsidiary takes care of the operations in Mexico.
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2. Guangdong Symphony Keruilai Air Coolers Co. Ltd., China (GSK)  - This subsidiary takes care of the operations in China.
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3. Symphony AU Pty Limited, Australia (SAPL)  - This subsidiary takes care of the operations in Australia.
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4. Climate Technologies Pty Limited, Australia (CT)  - This subsidiary takes care of the operations in Australia.
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5. Bonaire USA LLC, USA (BUSA)  - This subsidiary takes care of the operations in the US.
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6. Symphony Climatizadores Ltda., Brazil (SCL)  - This subsidiary takes care of the operations in Brazil.
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_x000D_ All subsidiaries are wholly owned subsidiaries of the Company._x000D_

Key Personnel

_x000D_ Achal Bakeri, Founder, Chairman and Managing Director_x000D_ _x000D_ Mr Achal Bakeri, a game-changer in the environmentally friendly products industry, is the founder of the world’s largest air cooling company. In 1988, he founded Symphony Limited with the aim to provide economically viable cooling accessible to all. Driven by a design thinking approach, Achal has led Symphony to be a pioneer in the industry, dominating the maximum market share over the years. _x000D_

Corporate Actions

_x000D_ The following are the corporate actions undertaken by the company in recent times:_x000D_ _x000D_ Stock Split_x000D_ _x000D_ The company recently split its stock from ₹10 to ₹2 per share with a record date of February 17, 2012._x000D_ _x000D_ Bonus Issue_x000D_ _x000D_ The company issued bonus stocks at a ratio of 1:1 with a record date of September 15, 2016._x000D_ _x000D_ Buyback of Shares_x000D_ _x000D_ The company conducted a buyback of its shares with a record date of March 29, 2023._x000D_ _x000D_ Mergers and Acquisitions_x000D_

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• Symphony acquired Climate Change Technologies-Australia and Bonaire-USA in 2018. 
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• In 2015, the company performed the acquisition of Keruilai.
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