Symphony is the leading company in India in the air-coolers business and commands ~50% market share in the organized segment.
We like companies that have leadership position or are amongst top 3 in their respective industries as it is reflective of the quality of management, their ability to outgrow competition and with leadership position the companies also get advantages of scale, brand recognition, etc.
Consider this, while the company commands 50% market share, it accounts for ~70% of the profitability of the industry. Thus, as mentioned above, the company clearly has the advantage of scale and brand recognition enabling it to generate much higher profitability than its competitors.
Besides, the company is debt free with surplus cash to the tune of 150 crores (invested in various debt schemes) and only 80-90 crores has been employed in the core business with return in excess of 95% on the capital employed.