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Symphony

SYMPHONY NSE
₹507.35 No trade today
P/E
Not meaningful: loss-making over the last twelve months
View as Markdown
MCP
Close 4 Nov 2026 ₹507.35 −431.40 −46.0% 1Y
Start ₹938.75

Key Fundamentals

MicrocapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
20.60%
Debt to Equity
0.32
EPS (TTM)
−₹20.39
Book Value
₹82.38
Market Cap
—
P/E (TTM)
Not meaningful: loss-making over the last twelve months
P/B
6.16
ROE
2.96%
Dividend Yield
0.60%
EBITDA
₹184 Cr
52W High
₹970.45
52W Low
₹476.05
Volume
0

Peer Comparison

Consumer Discretionary › Consumer Goods › Household Appliances

Symphony peer comparison
LG Electronics
₹1,692.1062.93₹1,15,914 Cr14.980.00%24.70%32.30%₹25,575 Cr₹1,825 Cr
Voltas
₹1,064.8078.41₹35,544 Cr5.530.38%6.10%9.04%₹14,979 Cr₹442 Cr
Blue Star
₹1,555.0062.78₹32,857 Cr9.170.54%17.20%21.20%₹12,798 Cr₹510 Cr
Amber Enterprises
₹6,460.00236.98₹22,453 Cr5.210.00%5.99%10.30%₹12,625 Cr₹124 Cr
Crompton Greaves
₹203.82—₹13,185 Cr4.331.52%10.30%19.00%₹7,698 Cr−₹189 Cr
V-Guard Industries
₹292.9535.04₹12,603 Cr5.000.52%14.40%18.40%₹6,310 Cr₹364 Cr
Whirlpool
₹826.1541.77₹10,427 Cr2.520.61%7.71%10.70%₹8,329 Cr₹252 Cr
Symphony (this company)
₹507.35—₹3,464 Cr6.160.60%2.96%20.60%₹1,112 Cr−₹140 Cr
Median 8 companies₹945.4862.86₹17,819 Cr5.370.53%9.01%18.70%₹10,477 Cr₹308 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

27 Poor

Data confidence 91/100

Category scores

Quality
42
Weak
Returns, margins, earnings quality 22% weight
Valuation
37
Poor
Cheap vs sector & own history 24% weight
Growth
11
Poor
Sales & profit trajectory 9% weight
Financial Health
42
Weak
Solvency, leverage, coverage 9% weight
Momentum
9
Poor
Trend strength, vol-adjusted 12% weight
Ownership
20
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 19.6%

Weaknesses

1
  • The company has delivered a poor sales growth of 4.67% over past five years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1162
OscillatorsBearish261
Moving AveragesStrong Bearish901

Key readings

RSI (14)
39.44
Neutral
MACD (12,26,9)
−20.13
Bullish
SMA (50)
561.18
Bearish
SMA (200)
709.13
Bearish

As of

Analyst Rating

Based on 6 analysts
BUY83%

5 of 6 analysts rate Buy, 1 Hold, 0 Sell.

As of

BUY
5
83%
HOLD
1
17%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+9.74%
5Y+4.66%
3Y−1.65%
1Y−28.30%
TTM−12.44%

Net profit

Net profit growth by window
10YTurned to loss
5YTurned to loss
3YTurned to loss
1YTurned to loss
TTMTurned to loss

Operating cash flow

Operating cash flow growth by window
10YTurned negative
5YTurned negative
3YTurned negative
1YTurned negative
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−19.34 pp
5Y−4.41 pp
3Y−0.63 pp
1Y−8.65 pp
TTM−5.87 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹764 Cr
Mar 2018₹798 Cr
Mar 2019₹844 Cr
Mar 2020₹1,103 Cr
Mar 2021₹900 Cr
Mar 2022₹1,039 Cr
Mar 2023₹1,188 Cr
Mar 2024₹1,156 Cr
Mar 2025₹1,576 Cr
Mar 2026₹1,130 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹166 Cr
Mar 2018₹193 Cr
Mar 2019₹92.00 Cr
Mar 2020₹182 Cr
Mar 2021₹107 Cr
Mar 2022₹121 Cr
Mar 2023₹116 Cr
Mar 2024₹148 Cr
Mar 2025₹212 Cr
Mar 2026−₹141 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹34.40 Cr −23.6% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Symphony Ltd, the dominant player with ~50% share of India's organised air cooler market, is trading at a market cap of ₹4,817 Cr with a negative trailing PE of -33.9x after reporting a consolidated net loss in the most recent period. The company posted strong FY25 consolidated revenue of ₹1,623 Cr (up 36% YoY) but has seen a sharp reversal in FY26 with revenue declining ~30% YoY in recent quarters, resulting in negative EPS of -₹20.14 for FY26.

Bull Case 7
  • Dominant market position with ~50% share of India's organised air cooler market, providing pricing power and brand recall in a structurally underpenetrated category
  • FY25 consolidated revenue grew 36% YoY to ₹1,623 Cr from ₹1,207 Cr in FY24, demonstrating the business can scale rapidly in a good demand year
  • FY25 consolidated net profit surged to ₹212.5 Cr with EPS of ₹30.94, up from ₹148 Cr in FY24, showing strong operating leverage when volumes are healthy
  • FY25 operating profit margin expanded to 19.1% from 14% in FY24, indicating ability to improve profitability through mix and scale
  • Asset-light business model with outsourced manufacturing keeps capital expenditure low; 10-year sales CAGR of 10% achieved without heavy reinvestment
  • Consistent dividend payout history with 19.3% payout ratio maintained and current dividend yield of 0.58%, signalling shareholder-friendly management
  • Global presence across 60+ countries diversifies revenue beyond India's seasonal domestic demand; international revenue contributed ~50% of consolidated sales historically
Bear Case 8
  • TTM sales have declined 28% and TTM profit has collapsed by 110%, indicating a severe demand downturn; FY26 consolidated net loss of ₹141 Cr versus ₹212.5 Cr profit in FY25
  • Stock trades at 8.77x price-to-book value despite negative trailing earnings (PE of -33.9x), implying expensive valuation relative to current profitability
  • 5-year compounded sales growth of just 4.7-5% is poor for a consumer discretionary company, suggesting structural demand challenges
  • Last year ROE turned negative at -4% versus 3-year average of 17% and 10-year average of 20%, reflecting significant earnings deterioration
  • Stock price CAGR is -39% over 1 year and -8% over 3 and 5 years, indicating sustained value destruction for shareholders
  • High single-product concentration with 97% revenue from air coolers exposes the company to weather dependency and seasonal demand volatility
  • FY26 Q4 revenue of ₹351 Cr showed a 30.7% YoY decline, suggesting the demand weakness is persisting into what should be peak summer season
  • International subsidiary performance is volatile; consolidated other income swung to -₹147 Cr in FY26 from +₹1 Cr in FY25, likely reflecting foreign exchange or impairment charges

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Symphony's recent newsflow is largely routine and governance-related, with no material negative developments. The ₹5 per share final dividend reflects consistent shareholder returns. Active engagement with analysts and media suggests management confidence ahead of Q1FY27 results. The near-term outlook hinges on upcoming quarterly earnings, with no visible headwinds from current news.

Positives 1
  • ₹5 final dividend declared Jul 6

    Symphony fixed July 17, 2026 as record date for ₹5 per share final dividend for FY26, signaling steady capital return to shareholders.

Neutral 4
  • Trading window closed from Jul 1 Jun 20

    Symphony closed its trading window for designated persons from July 1, 2026 until 48 hours after Q1FY27 results are declared.

  • Analyst meeting with HDFC Securities Jun 15

    Symphony scheduled a one-on-one virtual meeting with HDFC Securities on June 19, 2026 to discuss business outlook.

  • Media engagements in mid-June Jun 15

    Management interacted with ET Swadesh on June 15 and ET Now on June 12, 2026 to discuss business overview.

Quarterly Results

₹ Cr
SYMPHONY quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
302
275
247
332
393
289
242
488
251
163
233
338
378
275
Expenses
276
234
203
275
306
212
213
381
225
139
209
288
332
239
Operating Profit
26
41
44
57
87
77
29
107
26
24
24
50
46
36
OPM %
9%
15%
18%
17%
22%
27%
12%
22%
10%
15%
10%
15%
12%
13%
Other Income
14
11
15
9
9
4
−39
11
29
7
12
−196
13
9
Interest
3
2
3
2
0
0
2
3
0
0
4
5
3
1
Depreciation
7
7
6
6
2
2
6
5
2
3
5
6
6
6
PBT
30
43
50
58
94
79
−18
110
53
28
27
−157
50
38
Tax %
20%
19%
18%
17%
6%
29%
−44%
28%
21%
32%
30%
39%
20%
37%
Net Profit
24
35
41
48
88
56
−10
79
42
19
19
−218
40
24
EPS (₹)
3.48
5.08
5.95
6.96
12.76
8.15
−1.46
11.5
6.12
2.77
2.77
−31.75
5.82
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
SYMPHONY profit and loss, annual, ₹ crore
Particulars Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
525
446
764
798
844
1,103
900
1,039
1,188
1,156
1,576
1,131
1,112
Expenses
393
309
565
579
711
889
759
877
1,048
985
1,264
1,005
968
Operating Profit
132
136
199
220
133
213
140
162
140
171
312
126
144
OPM %
25%
31%
26%
28%
16%
19%
16%
16%
12%
15%
20%
11%
13%
Other Income
34
33
43
54
15
51
24
40
50
48
1
−147
−164
Interest
1
0
1
2
8
13
12
10
12
12
10
16
12
Depreciation
4
4
7
7
10
21
21
24
26
26
22
20
20
PBT
161
165
235
265
130
230
131
168
152
181
280
−59
−52
Tax %
28%
28%
29%
27%
30%
21%
18%
28%
24%
18%
24%
138%
—
Net Profit
116
118
166
193
92
182
107
121
116
148
213
−141
−140
EPS (₹)
16.56
16.91
23.77
27.52
13.19
25.94
15.34
17.2
16.64
21.48
30.94
−20.54
−20.39
Div. Payout %
42%
74%
19%
16%
34%
89%
33%
52%
30%
61%
42%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
—

Balance Sheet

₹ Cr
SYMPHONY balance sheet, annual, ₹ crore
Particulars Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
7
7
14
14
14
14
14
14
14
14
14
14
Reserves
299
312
451
598
652
625
745
825
867
735
747
531
Borrowings
0
0
19
26
188
210
219
254
232
170
142
173
Other Liabilities
116
104
121
119
211
215
236
267
281
291
419
312
Total Liabilities
423
422
605
757
1,065
1,064
1,214
1,361
1,394
1,210
1,322
1,030
Fixed Assets
68
77
79
82
237
318
354
355
351
327
322
171
CWIP
0
3
0
0
6
2
0
0
0
0
0
0
Investments
242
162
292
422
458
412
484
500
527
373
440
268
Other Assets
112
180
234
252
363
332
375
506
516
510
560
590
Total Assets
423
422
605
757
1,065
1,064
1,214
1,361
1,394
1,210
1,322
1,030

Cash Flow

₹ Cr
SYMPHONY cash flow, annual, ₹ crore
Particulars Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
104
89
95
107
140
157
89
57
125
162
259
−81
Investing
−37
70
−65
−102
−250
78
−53
6
−12
193
−41
190
Financing
−66
−145
−5
−29
118
−241
−21
−34
−124
−367
−224
−95
Net Cash Flow
1
13
25
−25
7
−6
14
29
−10
−12
−6
14
Free Cash Flow
90
84
88
108
131
140
73
48
114
156
237
−96
CFO/EBITDA
115
95
82
78
138
100
88
58
128
120
108
−26

Ratios

SYMPHONY financial ratios, annual
Particulars Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
23
38
25
28
45
40
67
73
35
53
33
49
Inventory Days
70
100
77
75
96
74
87
111
137
140
129
193
Days Payable
61
90
55
55
104
72
100
95
91
81
82
79
Cash Conversion Cycle
32
48
48
48
38
42
55
88
81
112
81
162
Working Capital Days
−3
29
23
41
10
−1
22
26
15
17
−14
23
ROCE %
50%
51%
58%
46%
22%
29%
16%
17%
15%
19%
37%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Symphony insights

64 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 73.43%
  • Public 11.29%
  • DIIs 7.18%
  • Others 5.91%
  • FIIs 2.20%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Symphony

What does Symphony Ltd do?
Symphony was established in 1988, in Ahmedabad, India. The company is engaged in the manufacturing and trading of residential, commercial, and industrial air coolers in the domestic and international markets.
Where is Symphony Ltd (SYMPHONY) listed?
Symphony Ltd trades as SYMPHONY on the NSE and under code 517385 on the BSE.
Which sector does Symphony Ltd belong to?
Symphony Ltd is classified under the Consumer Goods sector, in the Household Appliances industry.
What is the 52-week high and low of Symphony Ltd?
Over the last 52 weeks Symphony Ltd has traded between ₹476.05 and ₹970.45 as of 4 Nov 2026.
Does Symphony Ltd pay dividends?
Symphony Ltd has a dividend yield of 0.60%.
What is the Return on Equity (ROE) of Symphony Ltd?
Symphony Ltd reported a return on equity of 2.96%. Its debt-to-equity ratio is 0.32.

Company Information

Symphony was established in 1988, in Ahmedabad, India. The company is engaged in the manufacturing and trading of residential, commercial, and industrial air coolers in the domestic and international markets. It is the largest air cooler manufacturer in the world. 97% of the revenue comes from the sale of Air coolers.

Website symphonylimited.com
CEO Mr. Achal Anil Bakeri MBA
Employees 486
Listed 15 Jun 2011
Face Value ₹2

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