SYMPHONY
Symphony share price & financials
- Price
- ₹699.45
- Market cap
- ₹4.4k Cr
- Sector
- Consumer Durables
- Calls analysed
- 6
Symphony Limited Q1 FY27
What went well
- Consolidated revenue of ₹378 crore, up 8% YoY.
- Consolidated EBITDA of ₹48 crore, up 26% YoY from ₹38 crore.
- Gross margin percentage increased to 49.8%, and EBITDA margin to 12.6%.
What to watch
- Consolidated PAT declined to ₹40 crore from ₹42 crore (though adjusted PAT was up 23%).
- Raw material cost inflation and geopolitical situation are expected to impact margins in the short term.
What Symphony Limited does
Symphony designs, brands and sells air-coolers, large-space ventilation (LSV) cooling systems, personal/tower fans and storage water heaters for residential, commercial and industrial use, marketed in India through a pan-India network of dealers, modern trade, e-commerce and a growing direct-to-consumer channel. It also derives revenue overseas through subsidiaries and licensed/owned brands in Australia, the USA, Mexico, Brazil and China, and via direct exports from India. The Company positions itself as an IP- and R&D-driven cooling-technology business rather than a pure hardware manufacturer, continually launching new air-cooler and appliance models to widen its category footprint beyond the traditional India summer air-cooler season.
Segments
- Domestic (India) air-cooling & appliances
- International / overseas subsidiaries
- Global market position
- World's largest air-cooler company; India's largest air-cooler brand
- Export footprint
- 60+ nations across six continents
- Cumulative air-coolers sold since inception
- 25 million+
- After-sales service network (micro-locations)
- 160+
- Service partners
- 1,000+
- Trained service engineers
- 4,000+
Guidance record · Q1 FY27
what the last two calls moved 11 tracked 2 delivered 3 missed 6 open- Channel Inventory Levels delivered said Q2 FY26 Promised: Probably by Q3, channel inventory should be normalized. Q1 FY27: The promise was achieved in Q3 FY26. In Q1 FY27, management noted strong domestic momentum despite a significant inventory overhang from the previous summer, indicating the issue is managed but remains a dynamic factor.
- Divestment of IMPCO Mexico and CT Australia missed said Q4 FY25 Promised: Put IMPCO Mexico and Climate Technologies, Australia on block... expect optimum value. Q1 FY27: The Australian subsidiary (CTPL) continues to underperform, with softening revenue and a negative EBITDA of ₹4 crore. Management has committed to no further capital allocation, confirming the failure of the original strategy and the finality of the divestment miss.
- International Business Revenue at risk said Q4 FY25 Promised: International business to double in the next 3 years. Q1 FY27: Performance remains mixed. While USA and China subsidiaries showed strong YoY revenue growth (35% and 43% respectively), Mexico and Australia saw declines. The overall goal remains at risk.
All 11 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 5.2%, net profit down 24.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 259 | 182 | 368 | 229 | 155 −40% | 182 +0% | 199 −46% | 241 +5% |
| EBITDA | 72 | 33 | 99 | 23 | 27 −62% | 31 −6% | 31 −69% | 28 +22% |
| Net profit | 67 | -4 | 44 | 37 | 28 −58% | 34 +950% | -265 −702% | 28 −24% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −37.0% 1Y
1Y: ₹941.2 on 10 Sept 2025 → ₹592.65. High ₹957.75 (10 Feb 2026), low ₹567.75 (2 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.5%
- 4 Aug
- Q4 FY26
- −7.4%
- 18 May
- Q3 FY26
- +4.9%
- 29 Jan
- Q2 FY26
- +0.1%
- 6 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 13.6% a year over 3 years, FY23 to FY26. Operating margin widened to 14.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.2k Cr | ₹796 Cr | ₹1.2k Cr | ₹765 Cr |
| Operating profit | ₹138 Cr | ₹160 Cr | ₹286 Cr | ₹112 Cr |
| Operating margin | 11.6% | 20.1% | 24.2% | 14.6% |
| Interest | ₹10 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹26 Cr | ₹5 Cr | ₹6 Cr | ₹6 Cr |
| Net profit | ₹116 Cr | ₹153 Cr | ₹176 Cr | ₹-166 Cr |
| Net margin | 9.8% | 19.2% | 14.9% | -21.7% |
| Cash from operations | ₹136 Cr | ₹195 Cr | ₹253 Cr | ₹16 Cr |
| Free cash flow | ₹137 Cr | ₹190 Cr | ₹233 Cr | ₹0 Cr |
| ROCE | 24.0% | 24.0% | 43.0% | 26.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹747 Cr | ₹812 Cr | ₹898 Cr | ₹761 Cr | ₹769 Cr | ₹506 Cr |
| Borrowings | ₹0 Cr | ₹40 Cr | ₹22 Cr | ₹0 Cr | ₹5 Cr | ₹0 Cr |
| Other liabilities | ₹121 Cr | ₹146 Cr | ₹165 Cr | ₹182 Cr | ₹629 Cr | ₹168 Cr |
| Total liabilities | ₹882 Cr | ₹1.0k Cr | ₹1.1k Cr | ₹957 Cr | ₹1.4k Cr | ₹688 Cr |
| Fixed assets | ₹71 Cr | ₹80 Cr | ₹74 Cr | ₹74 Cr | ₹94 Cr | ₹97 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹579 Cr | ₹597 Cr | ₹629 Cr | ₹557 Cr | ₹565 Cr | ₹270 Cr |
| Other assets | ₹231 Cr | ₹335 Cr | ₹397 Cr | ₹326 Cr | ₹758 Cr | ₹322 Cr |
| Total assets | ₹882 Cr | ₹1.0k Cr | ₹1.1k Cr | ₹957 Cr | ₹1.4k Cr | ₹688 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +4.16 pp while FIIs trimmed −4.04 pp. The shareholder count shrank 2% to 1,36,586.
- Promoters
- 73.4%
- FIIs
- 2.4%
- DIIs
- 8.5%
- Public
- 15.7%
Since Jun 2025
- Public +4.16 pp
- FIIs −4.04 pp
- DIIs −0.13 pp
How it drifted, 12 quarters
Over this window the public went from 12.3% to 15.7% — +3.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 73.4%, FIIs 3.8%, DIIs 10.4%, Public 12.3%.Dec '23: Promoters 73.4%, FIIs 3.4%, DIIs 11.0%, Public 12.2%.Mar '24: Promoters 73.4%, FIIs 3.3%, DIIs 10.3%, Public 13.0%.Jun '24: Promoters 73.4%, FIIs 4.8%, DIIs 10.0%, Public 11.8%.Sep '24: Promoters 73.4%, FIIs 6.1%, DIIs 9.0%, Public 11.5%.Dec '24: Promoters 73.4%, FIIs 6.8%, DIIs 8.4%, Public 11.3%.Mar '25: Promoters 73.4%, FIIs 6.2%, DIIs 8.7%, Public 11.7%.Jun '25: Promoters 73.4%, FIIs 6.5%, DIIs 8.6%, Public 11.5%.Sep '25: Promoters 73.4%, FIIs 6.0%, DIIs 8.8%, Public 11.8%.Dec '25: Promoters 73.4%, FIIs 5.3%, DIIs 8.7%, Public 12.5%.Mar '26: Promoters 73.4%, FIIs 3.3%, DIIs 8.7%, Public 14.6%.Jun '26: Promoters 73.4%, FIIs 2.4%, DIIs 8.5%, Public 15.7%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Symphony Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Achal Anil Bakeri | 41.93% | unchanged |
| Sanskrut Tradecom Private Limited | 17.89% | unchanged |
| Rupa Achal Bakeri | 10.16% | unchanged |
| HDFC Mutual Fund Mutual fund | 7.16% | −0.09 pp |
| Achal Anil Bakeri - Huf (Achal Anil Bakeri Karta) | 3.44% | unchanged |
| Pavan Bakeri | 1.75% | unchanged |
| Jonaki Achal Bakeri Jt. Achal Anil Bakeri | 0.00% | unchanged |
| Achal Bakeri Family Trust (Trustee - Achal Bakeri Jt. Rupa Bakeri) | 0.00% | unchanged |
| Jonaki Bakeri Family Trust (Trustee Achal Bakeri Jt. Rupa Bakeri Jt. Jonaki Bakeri) | 0.00% | unchanged |
| Hirva Bakeri Family Trust (Trustee - Achal Bakeri Jt. Rupa Bakeri Jt. Hirva Bakeri) | 0.00% | unchanged |
| Rupa Bakeri Family Trust (Trustee - Achal Bakeri Jt. Rupa Bakeri) | 0.00% | unchanged |
| Scarlet Living Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in SYMPHONY
Filings to Jul 2026
0 new, 0 added, 1 trimmed, 0 sold out — net −1.91 L shares (−15.9%).
- Held by funds
- ₹70 Cr
- 4 schemes
- Biggest holder
- HDFC Multi Cap Fund
- ₹30 Cr · 0.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Multi Cap Fund HDFC Mutual Fund | ₹30 Cr | −1.91 L | Dec '23 |
| HDFC Retirement Savings Fund - Equity Plan HDFC Mutual Fund | ₹22 Cr | held | Dec '22 |
| HDFC Housing Opportunities Fund HDFC Mutual Fund | ₹11 Cr | held | Jun '23 |
| HDFC Equity Savings Fund HDFC Mutual Fund | ₹7 Cr | held | Dec '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 1 trimmed — net −1.91 L shares (−15.9%)
- Funds are sitting on
- -22%
- vs est. average cost
- Held by funds
- ₹70 Cr
- 4 schemes · ≈ 1.6% of the company
- Biggest holder
- HDFC Multi Cap Fund
- ₹30 Cr · 0.1% of that fund
- Longest holder
- HDFC Retirement Savings Fund - Equity Plan
- 3y 8m · since Dec '22
Shares held by these funds −74%
Aug '23 10.11 L shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Symphony Limited
Guides on how to read this kind of business and the numbers that matter.