The standalone net sales for March 2017 quarter grew by 33.5% to Rs 184.05 crore. The net profit was stagnant at Rs 46.69 crore.

Touch and i-pure evoked in a challenging period. The product reported 2.5x sales of what had budgeted. It was launch at introductory price. It will be there till season sale

Margin in Q4 was down to increase in raw material cost due to touch series products and increase in ad spends. Ad spend jumped due to new animated television ad launch in March. Also introductory price of Touch and i-pure impacted margin.

Profit was impacted due to launch of Touch series range at introductory price. Sales grew due to Touch series and i-pure products. The demand for these products were more than the mgmt expectation.

The country's air-cooler market grew 15%. Symphony's revenues grew 27% on standalone basis.

Rs 173 crore capital employed in air cooler business.

Launch 10 new models in FY17.

The new model contributed 1/5^th of sales for FY17.

i-Pure and Touch models – the company has completely misread demand. These are next generation cooler products. Products classified as digital products (not electrical!)

The Touch series attracted bookings as early as July 2016. The bookings were made on the basis of pictures. The advances were used to invest in moulds. This kickstarted a Negative Capex Cycle (as distinct from a negative working capital cycle)

The iPure created history. It combined two products in one (cooler + air-purifier). This hybridized innovation has extended Symphony into contiguous product spaces. More importantly, it has the potential to extend Symphony products from summer to round-the-year use

The company acquired Guangdong Symphony Keruilai Air Coolers Co. Ltd. from 1 January 2016. The mgmt had factored that the business would lose money for the next few years. The china company has moderated operating losses in 2016-17. Total cash loss came down from Rs 15.23 crore to Rs 7.13 crore YoY and net loss from Rs 22 crore to 11 crore YoY. The mgmt expect the business to turn cash positive across the foreseeable future

The company will leverage China presence to outsource components and address growing demand within China.

Mexico - initiated Project Renovaccion to transpose Symphony's asset-light/capital -light business model (product outsourcing, divested surplus land, buildings, plants, business relocated

Mexico- has seen completely turn around. Loans had been completely repaid by the company. Real estate will be monetized which will be used by it for R&D and growth of Mexico company.

For FY17, Mexico topline was Rs 75 crore. Its positive at cash level and pat level

For the first time the company began to appoint exclusive rural India dealers. It began to focus on a larger number of rural clusters with progressively smaller population spreads. It has doubled the number of retailers

The company has invested Rs 41 crore in brand spending in 2016-17. This was 32%t higher than the previous year

Considerable growth from Modern Trade in FY17. Modern Trade cooler market share increased to 60%. Modern trade is 16% of domestic sales.

Symphony's estimated market share is 50% by value of the Indian organized air-cooler market, 2016-17

For March and first 3 weeks of April 2017, season was pretty good. Then sales came down in cooling industry.

Centralized air cooling has seen 100% growth, healthy double digit figures. The company has robust pipeline order.

Don't need any incremental expense for penetration in rural India,

There was 10% increase in distribution in rural, which will grow.

The company will increase distribution network across urban, semi urban and rural.

For June quarter, prices will remain same for touch series. Staring July quarter, will re-price the products.

China – at present China market is fragmented in air cooler and market is vast.

China - will introduce some Symphony products but under existing legacy brand of China company. In FY18 and FY19, China will see Symphony models launch.

Un-Organized air cooler sector – 25-30% de-grown in Delhi market. This partly due to demonetization.

Buyback of shares- reduced dividend so that it can do buyback,

Moderate profit growth in Q1 FY18 is aexpected as sales was better than expected in end March and April for Touch series and i-pure products.

For Sept quarter FY18 expects margin to be around first 9M of FY17.

Revenue growth – medium to long term expects growth at CAGR of 20-25%.