Tuesday, October 26, 2021

SYMPHONY Q2FY22 PAT DOUBLES | STOCK OUTLOOK

  


Symphony Q2 consolidated PAT doubles to Rs30cr on robust sales, declares dividend; Stock climbs 2%

On the top-line front, Symphony's sales jumped by 16% on a consolidated basis to Rs220cr during Q2FY22 against Rs190cr in Q2 of last year.



Symphony's bottom-line front doubled during September 2021 (Q2FY22) quarter. The company posted a consolidated net profit of Rs30cr in Q2FY22, rising by 94% from Rs15cr in the same quarter last year. On the top-line front, Symphony's sales jumped by 16% on a consolidated basis to Rs220cr during Q2FY22 against Rs190cr in Q2 of last year.

Nrupesh Shah, Executive Director of Symphony said:
  • Despite increase in input and freight costs, we have maintained our Standalone gross margin at 48% in H1 21‐22 in line with 47% in H1 20‐21.
  • Consolidated gross margin has improved to 44% in H1 21‐22 versus 42% in H1 20‐21 as various initiatives are being implemented. 
  • We are likely to witness much better quarterly performance in ensuing quarters in current year. 


STOCK OUTLOOK

For long term stock can test 1327 , in short term exit in bounce  near 1114 - 1148 will be better , as it will remain sideways.




Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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