Symphony Limited Buyback 2024
1. Business Model:
Symphony Ltd. operates as a global leader in air-cooling solutions, leveraging a B2B and B2C model. The company focuses on the design, manufacture, and distribution of innovative air-cooling products for residential, commercial, and industrial applications. Symphony’s business model emphasizes sustainability, energy efficiency, and cost-effectiveness, ensuring a broad market reach and customer satisfaction.
2. Products and Services:
a) Residential Air Coolers: Symphony offers a wide range of air coolers for home use, featuring advanced cooling technology, user-friendly designs, and energy efficiency.
b) Commercial and Industrial Air Coolers: Provides large-scale cooling solutions for commercial spaces and industrial applications, ensuring efficient temperature control and comfort in diverse environments.
c) Eco-Friendly Solutions: Focuses on eco-friendly products that use less water and energy, contributing to environmental conservation and cost savings for consumers.
3. Branches and Global Reach:
Symphony Ltd. has a strong presence in over 60 countries, with manufacturing facilities and offices in India, North America, Mexico, China, and Australia. This extensive network supports its global distribution and service capabilities, making it a trusted brand worldwide.
4. Achievements:
The company has received numerous awards for its technological advancements, product design, and sustainable practices, reflecting its commitment to excellence and innovation. Recognized as the world’s largest manufacturer of air coolers, Symphony has maintained a dominant position in the market through continuous innovation and quality.
Buy Back Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Aug 21 2024 |
| Buyback Opening Date: | Aug 27 2024 |
| Buyback Closing Date: | Sep 02 2024 |
| Buyback Offer Amount: | ₹ 71.40 Cr. |
| Date of Board Meeting approving the proposal: | Aug 06 2024 |
| Date of Public Announcement: | Aug 06 2024 |
| Buyback Offer Size: | 0.41% |
| Buyback Number of Shares: | 2,85,600 |
| FV: | 2 |
| Buyback Price: | ₹ 2,500 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Particulars (In cr) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| Sales + | 844 | 1,103 | 900 | 1,039 | 1,188 |
| Expenses + | 711 | 889 | 759 | 877 | 1,048 |
| Operating Profit | 133 | 213 | 140 | 162 | 140 |
| OPM % | 16% | 19% | 16% | 16% | 12% |
| Other Income + | 15 | 51 | 24 | 40 | 50 |
| Interest | 8 | 13 | 12 | 10 | 12 |
| Depreciation | 10 | 21 | 21 | 24 | 26 |
| Profit before tax | 130 | 230 | 131 | 168 | 152 |
| Tax % | 30% | 21% | 18% | 28% | 24% |
| Net Profit + | 92 | 182 | 107 | 121 | 116 |
| EPS in Rs | 13 | 26 | 15 | 17.2 | 16.64 |
|
Dividend Payout %
|
34% | 89% | 33% | 52% | 30% |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 114640 | 114640 | 114640 | 114640 |
| No. of Shares Buyback | 26 | 40 | 60 | 80 |
| Buyback Profit | 27742 | 58680 | 88020 | 117360 |
| Profit% | 24.20% | 51.19% | 76.78% | 102.37% |
12 Comments
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My One share accepted out of 5 tendered
Single share debited from demat today. Has anyone got shares accepted? Maybe 1 share won’t work on this.
Offering buyback of meager 0.41% shares at twice of CMP, seems more to be a plan of rigging of share price, thereafter offloading holding by promoters in market, thus duping retail investors who buy shares at exorbitant rates for selling 1-2% ( expected ER) thereof in buyback , making heavy loss on remainig shares far surpassing the small buyback gain.
Yes, you got it
1 share chala jayega bb me vor er kya aaya hain
Very short buy back
Where can I check if the promoter participates in the buyback or not?
They may participate in many ways other than……
Buy back @ 2500
Just. 41percent @2500/ took it to 20 percent upper circuit. Chance of 1-4 percent E R looks very likely. Not buying single even .
Please advise why 01 share buy back strategy will not be in this buy back scenerio
One share may or may not be accepted. Since the buyback size is the smallest I have come across during the past 7-8 years, the chance of single share getting acceptance is very bleak.