Interview with Symphony Limited
We have been leveraging technology, consumer analytics, supply chain optimisation tools, social media and consumer outreach to build a formidable competitive advantage, emphasises Amit Kumar, Group CEO & Executive Director, Symphony Ltd.
With inflation leading to a rise in input costs along with supply chain challenges, what cost optimization measures are you implementing to safeguard profit margins?
The consolidated gross profit margin and EBITDA margin for FY21 stood at 45% and 19%, respectively, despite higher raw material costs and increased spending on marketing, advertising and trade partnership programs. The robustness of profitability despite the challenging business environment is the outcome of several strategic initiatives viz. expanding global footprint, agile global supply chain, value engineering and cost optimization measures etc.
We have been nurturing the complementing global strength of Symphony India and our subsidiaries in the areas of R&D and design, marketing access, sales & marketing, value engineering & cost optimization, etc. However, we are keeping a close watch on input cost, logistic cost and supply chain-related issues and we believe that our agile global supply chain will address the emerging logistic and raw material cost dynamics.
Can you highlight how Symphony has leveraged technology over the last three years to build a formidable competitive advantage?
We have been leveraging technology in the areas of D2C, consumer analytics, supply chain optimization tools, social media and consumer outreach for direct consumer engagement and to build a formidable competitive advantage. Recently, we were the first consumer durables company in India to launch an AI-enabled digital marketing campaign which drew a very positive response from consumers and our channel partners.
Can you elucidate the recent developments on the ‘Symphony D2C Brand Store’?
Symphony India's D2C Brand Store has recently been completely transformed with new features and a seamless consumer experience. We have introduced a couple of exclusive range of products, including limited edition Disney and Marvel character-themed air coolers and Smart-range of connected coolers, coupled with attractive consumer schemes like no-cost EMI, and COD payment options on the D2C brand store. We have also launched D2C operations for Australia and Mexico and the response so far has been very encouraging.
What is your earnings outlook for FY23?
We are quite upbeat about the domestic and international market where we operate and believe that our strategic initiatives mentioned above will translate into not only higher revenue, but also higher profitability.
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