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Last Updated on: 23 June, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 517385 | NSE: SYMPHONY

Fundamental Analysis of Symphony Ltd

Basic Stock Data

Last Updated: June 12, 2024, 11:20 am

Market Cap 8,549 Cr.
Current Price 1,240
High / Low1,241/820
Stock P/E57.2
Book Value 109
Dividend Yield0.40 %
ROCE19.0 %
ROE18.3 %
Face Value 2.00
PEG Ratio-15.37

Competitors of Symphony Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Pulz Electronics Ltd 107 Cr. 98.0205/56.012.9 26.80.00 %52.3 %39.6 % 10.0
BPL Ltd 607 Cr. 124128/58.245.1 51.00.00 %7.09 %5.54 % 10.0
HPL Electric & Power Ltd 2,812 Cr. 437462/10864.6 1290.23 %11.0 %5.37 % 10.0
Voltas Ltd 49,209 Cr. 1,4871,560/745198 1760.37 %8.51 %4.40 % 1.00
Dixon Technologies (India) Ltd 69,044 Cr. 11,53911,680/3,953188 2830.03 %28.7 %24.7 % 2.00
Industry Average26,441.50 Cr1,827.86107.22120.170.14%17.65%15.00%6.50

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales339230220205384329274277308302275247332
Expenses255220181175302295237233285276234203275
Operating Profit84103930823437442326414457
OPM %25%4%18%15%21%10%14%16%7%9%15%18%17%
Other Income689716121414101411159
Interest3223222333232
Depreciation5666666777766
Profit before tax82104028903843482330435058
Tax %23%40%25%25%29%24%26%19%30%20%19%18%17%
Net Profit6363021642932391624354148
EPS in Rs8.860.864.293.009.014.154.725.572.293.485.085.956.96

Last Updated: June 9, 2024, 12:22 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 5:40 am

MonthJun 2013Jun 2014Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales3474875254467647988441,1039001,0391,1881,156
Expenses2693643933095655797118897598771,048988
Operating Profit78123132136199220133213140162140168
OPM %22%25%25%31%26%28%16%19%16%16%12%15%
Other Income181634334354155124405049
Interest10101281312101210
Depreciation444477102121242626
Profit before tax91135161165235265130230131168152181
Tax %34%22%28%28%29%27%30%21%18%28%24%18%
Net Profit6010611611816619392182107121116148
EPS in Rs8.5915.1016.5616.9123.7727.5213.1925.9415.3417.2016.6421.46
Dividend Payout %38%43%42%74%19%16%34%89%33%52%30%61%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)40.68%16.27%-52.33%97.83%-41.21%13.08%-4.13%27.59%
Change in YoY Net Profit Growth (%)0.00%-24.41%-68.60%150.16%-139.03%54.29%-17.22%31.72%

Growth

Compounded Sales Growth
10 Years:15%
5 Years:8%
3 Years:3%
TTM:-10%
Compounded Profit Growth
10 Years:8%
5 Years:-9%
3 Years:-14%
TTM:-28%
Stock Price CAGR
10 Years:10%
5 Years:-7%
3 Years:-6%
1 Year:-3%
Return on Equity
10 Years:24%
5 Years:18%
3 Years:15%
Last Year:13%

Last Updated: April 13, 2024, 9:20 am

Balance Sheet

MonthJun 2012Jun 2013Jun 2014Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital777771414141414141414
Reserves182215269299312451598652625745825867667
Borrowings700001926188210219254232187
Other Liabilities8194118116104121119211215236267281395
Total Liabilities2783163934234226057571,0651,0641,2141,3611,3941,263
Fixed Assets70707068777982237318354355351337
CWIP0480300620000
Investments6299199242162292422458412484500527592
Other Assets146144117112180234252363332375506516334
Total Assets2783163934234226057571,0651,0641,2141,3611,3941,263

Reserves and Borrowings Chart

Symphony Ltd Cash Flow

MonthJun 2012Jun 2013Jun 2014Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 84679010489951071401578957125
Cash from Investing Activity -88-34-60-3770-65-102-25078-536-12
Cash from Financing Activity 5-30-33-66-145-5-29118-241-21-34-124
Net Cash Flow14-311325-257-61429-10

Free Cash Flow

MonthJun 2013Jun 2014Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow78.00123.00132.00136.00180.00194.00-55.003.00-79.00-92.00-92.00-1.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters73.25%73.25%73.25%73.25%73.25%73.25%73.25%73.25%73.38%73.38%73.38%73.38%
FIIs4.19%4.25%4.31%4.49%4.33%4.03%4.01%3.74%3.62%3.81%3.40%3.32%
DIIs9.64%9.46%10.02%10.05%10.89%11.14%11.22%11.10%10.69%10.44%11.03%10.27%
Public12.92%13.04%12.42%12.21%11.53%11.59%11.53%11.91%12.29%12.34%12.17%13.02%
No. of Shareholders57,91062,67858,35258,53853,36452,37751,9601,39,98068,35566,71167,66072,439

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
UTI Value Fund734,7840.8269.12734,7842024-06-190%
Axis ELSS Tax Saver Fund728,3330.268.51734,7842024-06-19-0.88%
Franklin India Smaller Companies Fund292,1580.2327.48734,7842024-06-19-60.24%
Axis ESG Integration Strategy Fund83,3020.587.84734,7842024-06-19-88.66%
UTI Conservative Hybrid Fund40,0000.243.76734,7842024-06-19-94.56%
Nippon India Nifty Smallcap 250 Index Fund11,4400.11.08734,7842024-06-19-98.44%
Motilal Oswal Nifty Smallcap 250 Index Fund6,9930.10.66734,7842024-06-19-99.05%
SBI Nifty Smallcap 250 Index Fund5,8100.10.55734,7842024-06-19-99.21%
Motilal Oswal Nifty 500 Index Fund6920.010.07734,7842024-06-19-99.91%
Edelweiss Nifty Smallcap 250 Index Fund3150.10.03734,7842024-06-19-99.96%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)21.4316.6417.2015.3525.98
Diluted EPS (Rs.)21.4316.6417.2015.3525.98
Cash EPS (Rs.)24.8620.3520.7318.4129.01
Book Value[Excl.RevalReserv]/Share (Rs.)107.00125.93120.77109.2191.99
Book Value[Incl.RevalReserv]/Share (Rs.)107.00125.93120.77109.2191.99
Revenue From Operations / Share (Rs.)165.14169.77148.55128.64157.63
PBDIT / Share (Rs.)31.2926.9628.6824.3638.07
PBIT / Share (Rs.)27.5723.1825.2221.3035.05
PBT / Share (Rs.)25.8621.7223.9518.7532.95
Net Profit / Share (Rs.)21.1416.5717.2815.3525.99
NP After MI And SOA / Share (Rs.)21.1416.6417.2015.3525.94
PBDIT Margin (%)18.9415.8819.3018.9424.15
PBIT Margin (%)16.6913.6516.9816.5522.23
PBT Margin (%)15.6512.7916.1214.5720.90
Net Profit Margin (%)12.809.7511.6311.9316.48
NP After MI And SOA Margin (%)12.809.8011.5711.9216.45
Return on Networth / Equity (%)19.7513.2114.3314.1328.38
Return on Capital Employeed (%)23.1616.1517.5715.7532.29
Return On Assets (%)12.158.298.808.8017.04
Long Term Debt / Equity (X)0.070.090.130.180.11
Total Debt / Equity (X)0.190.220.260.240.27
Asset Turnover Ratio (%)0.880.710.570.500.78
Current Ratio (X)1.611.802.302.532.05
Quick Ratio (X)1.011.181.822.101.67
Inventory Turnover Ratio (X)0.560.000.000.040.38
Dividend Payout Ratio (NP) (%)0.0060.090.000.0094.45
Dividend Payout Ratio (CP) (%)0.0048.960.000.0084.59
Earning Retention Ratio (%)0.0039.910.000.005.55
Cash Earning Retention Ratio (%)0.0051.040.000.0015.41
Interest Coverage Ratio (X)21.9018.4422.4915.9124.93
Interest Coverage Ratio (Post Tax) (X)16.0012.3314.5511.6918.39
Enterprise Value (Cr.)6043.157242.137834.178991.195685.75
EV / Net Operating Revenue (X)5.236.107.549.995.16
EV / EBITDA (X)27.5938.4039.0552.7621.35
MarketCap / Net Operating Revenue (X)5.145.987.399.825.02
Retention Ratios (%)0.0039.900.000.005.54
Price / BV (X)7.938.069.1411.648.66
Price / Net Operating Revenue (X)5.145.987.399.825.02
EarningsYield0.020.010.010.010.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 1,145.53

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Overvalued: 7.62% compared to the current price 1240

Intrinsic Value: 1,102.91

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 11.06% compared to the current price ₹1240

Last 5 Year EPS CAGR: -3.72%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Symphony Ltd:
    1. Net Profit Margin: 12.80%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 23.16% (Industry Average ROCE: %)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 19.75% (Industry Average ROE: %)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 16.00
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.01
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✗ Stock P/E: 57.2 (Industry average Stock P/E: )
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.19
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company

Symphony Ltd. is a Public Limited Listed company incorporated on 05/02/1988 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L32201GJ1988PLC010331 and registration number is 010331. Currently Company is involved in the business activities of Wholesale of other electronic equipments and parts thereof. Company’s Total Operating Revenue is Rs. 641.31 Cr. and Equity Capital is Rs. 13.99 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Consumer ElectronicsSymphony House, Third Floor, Ahmedabad Gujarat 380059investors@symphonylimited.com
http://www.symphonylimited.com
Management
NamePosition Held
Mr. Achal BakeriChairman & Managing Director
Ms. Reena BhagwatiIndependent Director
Mr. Amit KumarExecutive Director
Mr. Nrupesh ShahExecutive Director
Ms. Jonaki BakeriNon Executive Director
Mr. Ashish DeshpandeIndependent Director
Mr. Santosh NemaIndependent Director
Mr. Naishadh ParikhIndependent Director

FAQ

What is the latest fair value of Symphony Ltd?

The latest fair value of Symphony Ltd is ₹1145.53.

What is the Market Cap of Symphony Ltd?

The Market Cap of Symphony Ltd is 8,549 Cr..

What is the current Stock Price of Symphony Ltd as on 23 June 2024?

The current stock price of Symphony Ltd as on 23 June 2024 is ₹1,240.

What is the High / Low of Symphony Ltd stocks in FY 2024?

In FY 2024, the High / Low of Symphony Ltd stocks is 1,241/820.

What is the Stock P/E of Symphony Ltd?

The Stock P/E of Symphony Ltd is 57.2.

What is the Book Value of Symphony Ltd?

The Book Value of Symphony Ltd is 109.

What is the Dividend Yield of Symphony Ltd?

The Dividend Yield of Symphony Ltd is 0.40 %.

What is the ROCE of Symphony Ltd?

The ROCE of Symphony Ltd is 19.0 %.

What is the ROE of Symphony Ltd?

The ROE of Symphony Ltd is 18.3 %.

What is the Face Value of Symphony Ltd?

The Face Value of Symphony Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Symphony Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE