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Cooler industry in India

Air Coolers in India• Air coolers represent a low-cost, energy-efficient and an

environmentally-friendly alternative to air conditioners.• Air coolers are simple to use and cools air through the

evaporation of water which can cool air using much less energy than refrigeration.

• They are best suited for residences, showrooms, shops, offices, especially where doors are opened and closed frequently – a major advantage over conventional air conditioners.

Overview of industry• India air cooler market is growing with a CAGR of 11.26%

from last four years and market is projected to grow further due to rising mercury, increasing disposable income, growing demand in middle class people and low price of air coolers as compared to air conditioners.

• India air cooler market is divided into two parts viz. residential and industrial. Residential and Industrial air cooler market is growing with a CAGR of 15.68% and 9.04% respectively from past four years.

• Keeping in point, low capital expenditure and electricity benefits of air coolers, the middle income group majorly fuelled the sales in residential market. Whereas, industrial cooling is slowly gaining.

•  India's Air Cooler market is anticipated to reach INR 7999 Crore by 2021.

• Symphony, Kenstar and Bajaj are the market leaders in the organized air cooler market. Voltas has just forayed into the industry and is expected to give fierce competition to the market leader Symphony.

• The domestic air cooler segment is largelyfragmented with about 70-80% of salesaccounted for by unorganised players.

SYMPHONY LTD

Symphony Ltd Milestones

Symphony coolers

Undisputed & leadership• Worlds largest selling air cooler brand.• Market share almost 50% amongst organized market

player, despite new entrants.• Competitors- many leading Indian brands. (whirpool, bajaj electricals, kenstar.)• No major global player.• GST- potential game changer, will accelerate conversion

of unorganized market to organized players

Revenue break up 2015

Financials – P&L

Financials – Balance sheet & EPS

SWOT analysis

Major Clients

Acquisition of China company• The Acquisition of 100% equity in Munters Keruilai Air

Treatment Equipment (Gauangdong) Co. Ltd. China (MKE)• MKE is a market leading brand in China for evaporative air

coolers as a joint venture merger between Dongguan Keda Electrical and Mechanical Equipments Co. Ltd and a Swedish company : Munters

• Strength of MKE- Outstanding R & D Facility- Premium Products and 80+ IP rights- Manufacturing facility of 32,850 sq. m. at

Donguuan City in China- Only Chinese air cooler brand with international recognition

• Symphony’s opportunities - Market access to China - Enhanced international access - Synergy - Sourcing advantage.

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