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Name of the Nominee -ICAI Membership Number Mr. Nrupesh C Shah, Membership No. 039982

Name of the Nominee -ICAI Membership Number Mr. Nrupesh C Shah, Membership No. 039982. Category and Sub–Category of the Awards for which applying : CA Business Achiever : SME. photo. Present Designation – Name of the organization Executive Director - Symphony Limited.

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Name of the Nominee -ICAI Membership Number Mr. Nrupesh C Shah, Membership No. 039982

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  1. Name of the Nominee -ICAI Membership NumberMr. Nrupesh C Shah, Membership No. 039982 Category and Sub–Category of the Awards for which applying : CA Business Achiever : SME photo Present Designation – Name of the organization Executive Director - Symphony Limited

  2. Turnover (Sales) of the Company in Rupees: Rs. 313 Cr. • Net worth of the Company: Rs. 189.15 Cr. • Market Capitalization of the Organization Rs. 1400+ Cr. Note: Please give details of the company where the person is located. For CA Business Achiever or CFO where person is handling multiple companies within a group, please give composite details of all companies under the domain of nominee. Details of Individual companies may be given separately. The applicants of CA Professional Achiever should give details only of the company where they are working.

  3. KEY ROLE IN THE ORGANIZATION He looks after overall Corporate Affairs including corporate strategies, policy decision, corporate functions and financial management.

  4. MAJOR ACHIEVEMENTS • A BIFR company just few years before which was almost written off is now a big turnaround story with exceptional growth and financials. • Sales increased more than 11 times in 10 years (Rs. 28 Cr. in 2001-02 to Rs. 313 Cr. in 2011-12) • EBIDTA increased 35 times in 10 years (Rs. 225 Lacs in 2001-02 to Rs.7886 Lacs in 2011-12) • PAT of Rs 5309Lacs in 2011-12 compared to loss of Rs 3096 Lacsin 2001-02 • Contribution to National Ex-chequer increased by 20 times in the same period ( Rs.251 lacs in 2001-02 to Rs.5346 lacs in 2011-12) • Dividend of 275% in 2011-12 up from 10% in 2008-09 after remaining sick company from 2001-02 to 2008-09. • The market capitalization increased 325 times in past 10 years (Rs. 4.30 Cr. in 2001-02 to Rs. 1400+ Cr. in October 2012). Huge wealth creation. • Debt free company since last 4 years compared to a debt ridden company. (Earlier debt more than a turnover) • Earlier ‘Penny Stock’ is now ‘Preferred Stock’ by many. (Rs. 2/- share is not quoted at more than Rs 400 with PE ratio in excess of 25). • Successful acquisition in North America of a sick company. It has been turned around in a short span of 3 years. More acquisitions are under active consideration. • Substantial rationalization of variable cost, interest and fixed overheads. • Transformation from highly working capital business model to a negligible working capital model leading to zero interest cost compared to 11% interest cost vis-à-vis sales ten years before.

  5. MAJOR ACHIEVEMENTS • Substantial improvement and upgradation of :- • MIS , Internal Checks, Controls & Systems, Budgeting, Statutory Compliances • Vertically integrated ERP system almost inhouse developed. • Complete change of Product Strategy from “Multiple Products and Single Market” to “Single Product (with complete range of Air Cooling solutions) but Multiple Markets and Global business”. • Symphony is now world’s largest Air Cooler Company. • Strategized from a small domestic to global company having presence in 60 countries, with four overseas subsidiary companies (In Singapore, Mexico and 2 in USA). • More than 1/3rd of the business is now International business and that too even more profitable compared to domestic business. • Own manufacturing business model was changed to out-sourced (except SEZ Unit for exports) business model leading to quick scalability, variable cost model, low capex model and offering tremendously business flexibility. • Products meet with all global quality and performance standards which is evident from all major global certifications. Symphony is first Indian company in entire Consumer durables and appliances Industries having achieved GS (German) Certification which is considered to be the most stringent product standard. • The Annual Report for the year 2009-10 (year ended 30th June) was selected for “ICAI Award for Excellence in Financial Reporting” by Institute of Chartered Accountant of India in January 2012. • Symphony quarterly results get published just within 2 to 3 weeks from the end of the quarter and the Annual Audited consolidated results (including four overseas subsidiaries) within a month’s time from the year ending. Note- Please specify exact role whether the achievement is as a member of team or team leader or in any other capacity. – As a team leader

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