Symphony Ltd has announced the launch of Symphony commercial air cooler range under the brand 'Movicool'. After conducting initial field trials last summer we are now ready for national launch of this range.
Commercial coolers are essentially portable coolers which can cool very large spaces. Symphony had been selling limited quantities of commercial coolers over the past 3 years which were being imported from our subsidiary GSK in China. The Movicool range is based on the learnings and customer insights gathered during these 3 years and leveraging on the combined R&D capabilities of Symphony in India and GSK in China. The range consists of models which are not only portable but are very rugged, suitable for outdoor use and can cool vast indoor and outdoor spaces very effectively, while consuming water and electricity efficiently.
The target market for this range would be banquet halls, party plots, farmhouses, factories, warehouses etc. There are no organised sector players in the commercial cooler space in India. With this range, Symphony will be developing a virgin market altogether.
The Movicool range consists of 6 models in various sizes and cooling capacities ranging in introductory price from Rs. 22000 to Rs. 58000.
For the larger models, Symphony has developed and invested in dies and moulds which are massive in size and probably the largest ever in India in any industry.
The Movicool range is unique in size, performance and features not only in India but across the world.
The Movicool range will be introduced in international markets in mid 2020.
Shares of Symphony Limited was last trading in BSE at Rs.1234.8 as compared to the previous close of Rs. 1240.25. The total number of shares traded during the day was 126 in over 62 trades.
The stock hit an intraday high of Rs. 1249.1 and intraday low of 1225. The net turnover during the day was Rs. 155633.