Symphony Limited

Symphony
Company type
Public
ISININE225D01027
Industry
Founded1988; 38 years ago (1988)[1]
FounderAchal Bakeri
HeadquartersAhmedabad, Gujarat, India
Area served
Worldwide
ProductsResidential cooler, industrial cooler
Number of employees
400+
Websitewww.symphonylimited.com

Symphony Limited is an Indian multinational electronics and home appliances company, that specializes in manufacturing air coolers. It is based in Ahmedabad and was established in 1988.[2] It is a public limited, listed company,[3] with operations in about 60 countries.[4]

History

Initially incorporated as Sanskrut Comfort Systems Ltd. (SCS) in 1988 that manufactured consumer durables under brand name ‘Symphony’.[5] Symphony went public in 1994 and was also listed at Bombay, Ahmedabad and Delhi stock exchanges.[6]

In 1994, the company briefly diversified into the household electrical appliances sector in order to counter the seasonal nature of the air cooler business. Between 2002 and 2004, Symphony exited all other categories and resumed manufacturing only air coolers.[7]

In 2006, Symphony acquired the Mexican assets of the International Metal Products Company (IMPCO) for $650,000. IMPCO's large commercial air coolers were deployed in India in 2010.[8][9]

In 2015, Symphony acquired Chinese air cooler company Munters Keruilai Air Treatment Equipment (Guangdong) Co. Ltd. (MKE) that owns the brand Keruilai, for ₹1.5 crore.[10][11]

In 2018, Symphony purchased 95% equity stake in Climate Technologies, an Australian manufacturer of cooling and heating products, at a valuation range of A$40–44 million.[12][13]

Operations

About 25-30 percent of Symphony's turnover comes from international markets of Mexico, Europe, United States, West Asia and South-East Asia.[10]

References

  1. ^ "Foundation". Symphonylimited.com.
  2. ^ "SYMPHONY LTD". India Brand Equity Foundation. Retrieved 15 July 2021.
  3. ^ "Symphony News: Latest News Updates on Symphony, Symphony Results News, News on Symphony for last 6 months, Symphony Share/Stock News". Moneycontrol.com.
  4. ^ Pandit, Virendra (10 April 2012). "Symphony to double India network". Thehindubusinessline.com.
  5. ^ "History of Symphony Ltd., Company". Goodreturns.in.
  6. ^ "Public". Symphonylimited.com.
  7. ^ "How Symphony got its rhythm back". Fortuneindia.com. 3 May 2019.
  8. ^ Balachandran, Manu (21 December 2016). "An Indian tycoon built the world's top air-cooler firm, giving shareholders 91,000% returns in a decade". Quartz India.
  9. ^ "Industrial Cooler". Symphonylimited.com.
  10. ^ a b Vora, Rutam (13 August 2015). "Symphony acquires Chinese air cooler major MKE". Thehindubusinessline.com.
  11. ^ "Symphony Ltd acquires Chinese air cooler company". Business-standard.com. 13 August 2015.
  12. ^ "Air cooler maker Symphony to acquire Australia's Climate Technologies". VCCircle.com. 22 June 2018.
  13. ^ "Symphony signed an agreement to purchase effectively 95% equity stake in Climate Technologies Pty Limited, Australia". Bseindia.com. Retrieved 28 March 2022.

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