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Symphony selling & distribution expenses in Q4-2014 flat, could see upsurge in Q1-2015
BENGALURU: Evaporative air cooler manufacturer, Symphony, spent Rs 19.09 crore (16.42 per cent of Income from Operations or Inc from Ops) towards selling and distribution expenses (Sel & Dist Exp) in Q4-2014, almost the same as the Rs 19.14 crore (16.05 per cent of Inc from Ops) in Q3-2014. Y-o-y, Symphony’s Sel & Dist Exp in Q4-2014 increased 25.59 per cent from Rs.15.2 crores (17.31 per cent of Inc from Ops) in Q4-2013.
Please note that (1) The company’s accounting year ends on 30 June every year, but in keeping with the convention in India, quarter ended 30 June has been referred to as Q1, quarter ended 30 September as Q2, quarter ended 31 December as Q3 and quarter ended 31 March as Q4 of each respective year in this report.
(2) 100,00,000=100 Lakh = 1 crore
(3) All trends mentioned in this report are linear trends based on data across nine quarters starting Q4-2012 and ending Q4-2014 and across FY-2011 to FY-2013.
In its corporate presentation, Symphony says that it incurs the highest ad spends in the air cooler category in India and that it has been advertising through television, radio, print, BTL since 1990 and on the internet since 2010. Fig 1 below indicates that the company’s Sel & Dist Exp shows a downward trend as percentage of Inc from Ops across nine quarters starting Q4-2012 and ending Q4-2014.
However, in terms of absolute value, with the increase in Inc from Ops across their nine quarters, the trend towards higher spends in absolute value is upwards.
Across three financial years starting FY-2011 to FY-2013, Sel & Dist Exp for Symphony show as upward trend both in absolute rupees as well as Sel & Dist Exp as percentage of Inc from Ops, as is evident from Fig 1A below. Across the nine quarters under consideration, Symphony’s average Sel & Dist Exp is 18 per cent of Inc from Ops, so Q3-2014 and Q4-2014 spends are definitely below par. However, the company says that its business is seasonal and maybe based on the numbers reported for Q1 -2014 and Q4-2014, a splurge in Sel & Dist Exp could happen in Q1-2015.
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Symphony’s Inc from Ops as well as PAT show as upward trend across the 9 quarters in question as is evident from Fig 2 below.
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Brands
FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
