Symphony Limited
P&L
Quarterly Consolidated
vs Q3 FY26
Symphony Ltd FY26 Revenue Down 28% YoY to ₹1,131 Cr
16 May 2026 · 16 May, 9:32 am
Summary
Symphony Limited reported a challenging performance for FY26, with consolidated revenue from operations declining by 28% to ₹1,131 crore and consolidated EBITDA dropping sharply by 60% to ₹128 crore. The March 2026 quarter also saw a revenue decrease of 31% year-on-year. Management attributed the softer revenue and margin contractions primarily to a historically high base in the previous year, channel inventory overhangs, and geopolitical headwinds. In response to persistent challenges, especially in Australia, the company undertook a strategic balance sheet reset and announced the acquisition of key IP rights and Bonaire USA LLC to strengthen control and enhance profitability.
Key Highlights
- 1
Symphony Limited reported a significant decline in consolidated revenue from operations for FY26, which decreased by 28% year-on-year to ₹1,131 crore.
- 2
Consolidated EBITDA for FY26 plummeted by 60% to ₹128 crore, with the EBITDA margin contracting by 8.8 percentage points to 11.3%.
- 3
For the March 2026 quarter, consolidated revenue from operations fell by 31% year-on-year to ₹338 crore.
- 4
The Board of Directors proposed a final dividend of ₹5 per share for the financial year 2025-26, bringing the total year-to-date dividend payout to approximately ₹62 crore.
- 5
The company approved a strategic balance sheet reset for its Australian operations, including impairments of ~₹259 crore at the consolidated level for FY26, to align carrying values with current business realities.
- 6
Strategic diversification advanced with the Beyond India Summer Portfolio (BISP) contributing 49% of FY26 consolidated revenue.
- 7
Symphony Limited also approved the acquisition of intellectual property rights from Climate Technologies Pty Ltd for ~₹23 crore and 100% equity in Bonaire USA LLC for ~₹30 crore, both funded through the company's treasury.
Management Comments
Nrupesh Shah
The company reported a softer revenue performance on a standalone basis, against a historically high base in March 2025 that was also partly influenced by spillover from December 2024.
Nrupesh Shah
Beyond India Summer Portfolio (BISP) — comprising LSV, tower fans, kitchen cooling fans, water heaters, India exports, and overseas subsidiary sales — contributed 49% of FY26 consol. revenue, advancing strategic diversification.
Nrupesh Shah
Revenue at IMPCO Mexico and SCL Brazil remained broadly flat, with performance affected by channel inventory overhang.
Nrupesh Shah
In China, GSK China repaid ₹26 crore of the Symphony loan during CY26 year-to-date, reducing the outstanding amount to ₹4 crore from a peak of ₹60 crore in May 2024.
Nrupesh Shah
In the United States, the business recorded strong momentum and remained profitable on both a quarterly and annual basis.
Nrupesh Shah
In Australia, Climate Technologies Pty Ltd (CTPL)'s transformation efforts continued to face challenges, with stagnant revenue and negative profit after tax.
Nrupesh Shah
Domestic demand remained under pressure during the March-2026 quarter, as channel partners adopted a cautious approach amid inventory overhangs. Export revenue was affected by ongoing geopolitical headwinds in the Middle East.
Nrupesh Shah
Business momentum has shown signs of improvement from early April, supported by favorable weather conditions in South and West; however, summer is yet to fully set in across North and Northeast.
Nrupesh Shah
In FY26 standalone financials, BISP revenue stood at ₹192 crore (25% of revenue), lowering India-specific household air cooler summer seasonality.
Nrupesh Shah
EBITDA margin contractions both on standalone and consol. basis are primarily attributed to operating deleverage.
Informational and educational content only. Not investment advice.