Theme Symphony Ltd returns the Mexican arm to profitability
Sohini Das | Ahmedabad last updated on May 23, 2017 01:16 IST
Leading air cooler manufacturer Symphony Ltd has managed to reverse the situation of its Mexican subsidiary Impco, which was acquired in 2009 to enter the industrial cooler business, and the division is currently betting heavily. In addition, the loss of its Chinese subsidiary Guangdong Symphony Keruilai Air Cooler (GSK) has also been halved.
As a result, revenue from overseas markets in FY2017 was 171.16 crore, an increase of 39%. ICICI Securities predicts that Symphony's export volume will grow at a compound annual growth rate of 27% between fiscal year 2015 and fiscal year 2019, while domestic volume will increase at a compound annual growth rate of 19% from fiscal year 2017...
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