In 1994, Symphony had a successful initial public offering (IPO).
But then came the pressure from investors to diversify into other household electrical appliances. Especially, to counter the seasonal nature of the air cooler business.
What followed brought Symphony to near extinction. The company spread itself too thin and ended up in bankruptcy.
But Symphony used the crisis to break free from its past.
Tanushree Banerjee (Research Analyst), is the editor of Stock Select and Forever Stocks. Tanushree started her career at Equitymaster covering the banking and financial sector stocks and scrutinising RBI policies. Over the last decade, she developed Equitymaster's research processes that helped us pick out various multibaggers, across all sectors. A firm believer of "safety first" when it comes to investing, Tanushree closely follows the investing philosophies of Warren Buffett, Jeremy Grantham, and Joel Greenblatt.
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