At Symphony, our air cooling experts and marketers have been making history for over 75 years. We are proud to build on the global legacy of inventing the air cooler in 1930 and continuing innovation ever since.
We recognize that our consumers and the competitive landscape are changing rapidly.
Hence, investment in R&D to create cutting-edge innovations around evolving consumer lifestyles has always been a key priority. That is how we have introduced more than 30 new models in 5 years.
Today, we have many a competitor copying our products. While we are happy to serve as an inspiration to them, our sources of competitive advantage is not easy to replicate:
Relentlessly making our air coolers smarter through consumer insights & technology innovation
Focussing increasingly on making our business asset-light and more efficient
Agility in understanding each local market in depth to stay abreast of the evolving big picture
Organized players and reputed business houses entering the air cooling segment will only help in expanding the market and act as a further proof of the untapped opportunity. As the world leader, it will help Symphony further consolidate our market ownership.
Symphony is in a unique position to leverage two of the most promising consumer markets - India and China. Our recent acquisition, now known as Guangdong Symphony Keruilai Air Coolers is one of the oldest in China’s air coolers space and one of the largest in industrial coolers in China. The acquisition has given us deeper access into China and the ASEAN region. This has further strengthened Symphony’s global reach that was augmented by our earlier acquisition of IMPCO, Mexico.
In the long-term, our focus is to increase the penetration of our central air cooling solutions and fortify our market leadership in the home air cooling segment. The market for central air cooling in India is estimated at Rs. 3000 crore annually with a growth rate of 25-30% in the years to come. In a space that has been dominated by unorganised players like local fabricators, Symphony has gained market leadership as the only organized player having a quality and technical superiority edge. As shop floor comfort becomes a key priority for organisations in India as also across the globe, central air cooling will become vital part of their operational strategy.
Looking ahead, we are readying ourselves for sustainable growth by unleashing the full potential of air cooling products & solutions on a global scale. We will continue to deliver reliable and consistent shareholder value in a predictable yet profitable manner. Our ‘asset light innovation heavy’ strategy that has given us market leadership in India is duly getting replicated in our manufacturing facilities across the globe.
We continue to stand strong as a company that is financially efficient, operationally nimble and environmentally responsible.
And that is what matters!
Chairman & Managing Director