Date: October 29, 2026

Financial Performance Summary

Quarterly Performance (Q2 FY27 vs Q2 FY26)

Consolidated Results:

  • Revenue from Operations: ₹275 crore (▲31% from ₹210 crore)
  • EBITDA: ₹36 crore (▲166% from ₹13 crore)
  • EBITDA Margin: 13.0% (▲660 bps from 6.4%)
  • PAT: ₹24 crore (▲44% from ₹17 crore)

Standalone Results:

  • Revenue from Operations: ₹170 crore (▲9% from ₹155 crore)
  • EBITDA: ₹30 crore (▲11% from ₹27 crore)
  • EBITDA Margin: 17.5% (▲0.2% from 17.3%)
  • PAT: ₹29 crore (▲1% from ₹28 crore)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

Consolidated Results:

  • Revenue from Operations: ₹653 crore (▲17% from ₹560 crore)
  • EBITDA: ₹83 crore (▲63% from ₹51 crore)
  • EBITDA Margin: 12.8% (▲3.7% from 9.1%)
  • PAT: ₹64 crore (▲9% from ₹59 crore)

Standalone Results:

  • Revenue from Operations: ₹411 crore (▲7% from ₹384 crore)
  • EBITDA: ₹59 crore (▲18% from ₹50 crore)
  • EBITDA Margin: 14.4% (▲1.3% from 13.1%)
  • PAT: ₹57 crore (▼13% from ₹65 crore)

Dividend Declaration

The Board of Directors approved a second interim dividend of ₹2 per share (face value ₹2) for FY 2026–27. The year-to-date dividend payout amounts to ₹20.6 crore.

Performance Drivers and Commentary

Consolidated Performance Drivers

  • Overseas subsidiaries led performance with IMPCO Mexico recording 131% year-on-year revenue growth
  • GSK China reported a 29% revenue decline
  • Bonaire USA operated in a non-seasonal quarter
  • CTPL Australia reported 54% growth
  • Operating leverage and cost discipline supported EBITDA growth despite gross margin pressure from elevated input costs
  • PAT movement was moderated by adverse foreign-exchange variance of ₹8 crore and lower treasury/other income of ₹2 crore, partly offset by Pathways recovery of ₹4 crore (all impacts stated net of taxes)

Standalone Performance Drivers

  • India revenue grew 12% following post-summer inventory normalization
  • Company took measured approach to building channel inventory ahead of summer due to elevated input costs and seasonal consumer demand
  • Limited operating leverage and cost discipline helped EBITDA growth despite gross margin pressure
  • PAT movement was moderated by adverse foreign-exchange variance of ₹4 crore and lower treasury/other income of ₹3 crore, partly offset by Pathways recovery of ₹4 crore (all impacts stated net of taxes)

Beyond India Summer Products (BISP) Performance

Trailing-twelve-month basis:

  • Consolidated BISP revenue: ₹625 crore, accounting for 51% of total revenue
  • Consolidated BISP EBITDA margin: high single digits
  • Standalone BISP revenue: ₹192 crore, accounting for 24% of total revenue
  • Standalone BISP EBITDA margin: around 10%
  • BISP portfolio remains both EBITDA and PAT accretive
  • Growing contribution reflects Symphony's expansion into complementary products and international markets

New Product Categories Expansion

Symphony is progressing towards calibrated commercial launches of three new product categories in India during the quarter ending December 2026:

1. Room Air Conditioners: Eight inverter RAC variants

2. BLDC Ceiling Fans: Seven models

3. Air Purifiers: Two models

Market Opportunity: Combined estimated addressable market exceeding ₹60,000 crore

Entry Strategy:

  • Leverage established brand, shared distribution channels, existing retail and e-commerce relationships
  • Utilize nationwide service network with consumer durables expertise
  • Create opportunities for positive spillover benefits to core air cooler business

Operating Model:

  • Asset-light expansion: Outsourced sourcing and predominantly variable-cost operating model
  • Calibrated commercial rollout: Selective introduction across SKUs, channels and geographies
  • Working-capital discipline: Continuation of advance-led General Trade sales policy
  • Profitability-oriented scaling: Controlled marketing investments and focus on commercial viability

Company Background

Symphony Limited is an Indian Multi-National Company with presence in over 60 countries and is the world's leading air cooler company. Founded in 1988 in Gujarat, India, the company established a new category of evaporative air-cooling in India and has expanded globally.