In interaction with Mr. Achal Bakeri; Founder, Chairman & Managing Director, Symphony Limited
Speaking with DSIJ, Mr. Achal Bakeri; Founder, Chairman & Managing Director, Symphony Limited indicates the growth drivers that will take the company back to its pre-pandemic growth level. Following is the detailed discussion.
How is the business (demand) outlook for 2021?
All the current indicators point to a strong demand outlook possibly due to pent-up demand from previous summer as the operations were affected due to the pandemic, overall optimism in the consumer market and the early onset of summer. All told, overall, 2021 looks to be very promising year ahead.
Is your business back to the pre-pandemic levels?
In our case, being a seasonal products-based business, our business will be back to the pre-pandemic levels by next summer i.e. the summer 2021. The current financial year 2020 has been majorly affected but by the summer of 2021 we will be back to the pre-pandemic levels at the very least.
What are Symphony’s growth drivers?
We have multiple growth drivers; our new growth driver is industrial and commercial air coolers. And export is also a primary growth driver. We have opened up new markets, especially in Australia, USA and Brazil where we are seeing major growth over the past few years. The third factor is the inter-domestic market where the new products introduced by us have been received very well and are proving to be growth drivers.
What steps are being taken to increase your market share?
We will keep adding new models in new segments in the inter-domestic market.
Do you see any change in the consumption trend? How is it impacting your profitability?
Regarding the consumption trend, there is greater optimism and propensity to buy consumer products which will give an overall boost to our sales and in turn our profitability.