Yes, Symphony is an Indian company. It is an Indian multinational company engaged in the manufacturing of consumer electronics and home appliances. Symphony is particularly known for its residential, commercial, and industrial cooling solutions. The company’s product lineup comprises of household air coolers, commercial air coolers, large space venti coolers, tower fans, and water heaters.
Symphony holds the distinction of being the world’s largest manufacturer of evaporative air coolers. The company’s products feature innovative designs, distinct styling, energy efficiency, and customer-centricity. Symphony’s stated aim is providing affordable cooling and comfortable environments for maximizing efficiency, productivity, and well-being. Symphony is a public listed company.
| Detail | Info |
| Founded | 1988 |
| Founder | Achal Bakeri |
| Headquarters | Ahmedabad, Gujarat, India |
| CEO | Amit Kumar |
| Sector | Consumer electronics, Home appliances |
Company History
Symphony Limited was established in the year 1988 by Achal Bakeri at Ahmedabad in Gujarat. The company started operations by manufacturing evaporative air coolers and selling them under the brand name Symphony. Symphony introduced innovative energy-efficient cooling solutions in the Indian market as affordable alternatives to conventional air conditioners.
By the 1990s, Symphony had established itself as a leading company in the Indian air cooler market. The company was listed on both NSE and BSE in the year 1994. Symphony received the Guiness World Record for the world’s largest air cooler in the year 2000. The company started exporting its products to foreign markets like Southeast Asia, Middle East, and Africa in the first decade of the 21st century.
Symphony became the largest manufacturer of evaporative air coolers in 2010. It acquired several foreign companies like Mexican air cooler manufacturer IMPCO in 2006, Chinese company Munter Keruilai Air Treatment Equipment in 2015, and Climate Technologies in Australia in 2018.
Current Status
Symphony holds 46% share in the Indian organized air cooler market. The company exports its products to more than 60 countries all over the world, and its 25-30% of the revenues come from international markets. Symphony is divesting stakes in its Mexican and Australian subsidiaries to focus on India and United States.
Symphony has added new products like storage water heaters and tabletop cooling devices to its portfolio. The company has also launched innovative products like IoT-enabled coolers and tower fans.
Future Outlook
Symphony is expected to continue its investments in research and development to create energy-efficient, eco-friendly, and smart cooling solutions. The company is likely to boost its market presence in Middle East and Africa to leverage the benefits of growing demand for affordable cooling solutions in these regions.