Arthneeti

Symphony Q2 FY27 Share Price & Earnings Call Analysis

₹511.60+1.70% today
Market cap
₹3,511 Cr
P/E
902.66
ROE
2.96%
PEG
-20.06
Price to sales
3.16
Debt to equity
0.32
52W high / low
₹958 / ₹486
Sales growth (5Y)
4.67%
EBITDA margin
12.95%
Net profit margin
1.71%
Promoter holding
73.42%
Sales (last year)
₹1,112 Cr

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. [1] 97% of the revenue comes from the sale of Air coolers.[2]

Guidance scorecard · Q2 FY27 call

What Symphony Ltd's management guided
and where it ranks in Consumer Durables

Revenue10–20%MarginsDown 0–2%CapexNone plannedFundraisingWhat management saidOrder bookFlat

RevenueQ1 FY27 call

10–20%
  • US market: Revenue growth in the current quarter expected due to extended US summer; muted sales in the following two quarters as coolers are seasonal products used mainly in summer. Robust summers expected to drive significant sales growth in FY27.
  • Mexico: Two consecutive mild summers in FY25 and FY26 led to weak sales; a robust summer anticipated in FY27, likely resulting in significant growth.
  • China (GSK): Steady growth expected driven by industrial coolers and exports; momentum to continue based on export order inflows.
  • India domestic market: 15% revenue growth seen despite inventory overhang; modern trade and digital channels growing over 100%, with huge scaling potential.
  • Australia: Revenue continues to soften; no additional capital planned; maintaining business with efficiencies but no major growth drivers currently.

2 more points from Symphony Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Down 0–2%

See what Symphony Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

None planned
  • Symphony Limited's strategy is not to deploy any additional capital in their Australian business.
  • Management has assured shareholders that no further impairment or write-offs related to past investments will occur.
  • The company intends to do whatever can be done in Australia without additional capital deployment and will keep investors informed as actions unfold.

2 more points from Symphony Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Symphony Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Flat
  • Export shipments are not fully normalized; the Middle East continues to be impacted by disruptions.
  • Geopolitical uncertainties and increased costs have led to muted demand and cautious buyer sentiment.
  • Order inflows, especially for exports, remain affected due to these factors.
  • USA and China markets are expected to see healthy growth in the current quarter but may be muted afterward due to seasonal and export order factors.

2 more points from Symphony Ltd's call on the order book

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Full Q1 FY27 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Symphony Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹166 Cr20.3
240%+Up 2%+₹100 Cr12.7
340%+Up 0–2%₹3,249 Cr17.4
440%+Up 0–2%₹2,081 Cr18.8
540%+Flat₹2,429 Cr41.1
640%+Flat₹2,163 Cr25.6

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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables ranking

Financials of Symphony Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Symphony Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +73.38%73.38%73.38%73.42%73.42%73.42%73.42%73.42%73.42%73.42%73.42%73.42%
FIIs +3.40%3.32%4.83%6.11%6.78%6.17%6.47%5.98%5.30%3.28%2.43%2.20%
DIIs +11.03%10.27%9.98%8.96%8.45%8.68%8.60%8.84%8.74%8.72%8.47%7.18%
Public +12.17%13.02%11.80%11.51%11.33%11.71%11.49%11.77%12.51%14.57%15.65%17.19%
No. of Shareholders67,66072,43954,9602,02,2291,48,9741,40,6371,38,8101,36,7781,35,0231,37,4671,36,5861,39,508

Financials of Symphony Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +275247332393289242488251210233338378275
Expenses +234203275306212213381225196209288332239
Operating Profit414457877729107261424504636
OPM %15%18%17%22%27%12%22%10%7%10%15%12%13%
Other Income +1115994-3911291712-196139
Interest2320023054531
Depreciation7662265255666
Profit before tax4350589479-18110532127-1575038
Tax %19%18%17%6%29%-44%28%21%19%30%39%20%37%
Net Profit +3541488856-1079421719-2184024
EPS in Rs5.085.956.9612.768.15-1.4611.506.122.482.77-31.755.823.49

Financials of Symphony Ltd

Profit & Loss

Annual income statement trend

Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +5254467647988441,1039001,0391,1881,1561,5761,1301,224
Expenses +3933095655797118897598771,0489851,2641,0051,068
Operating Profit132136199220133213140162140171312126156
OPM %25%31%26%28%16%19%16%16%12%15%20%11%13%
Other Income +343343541551244050481-147-162
Interest101281312101212111813
Depreciation4477102121242626222023
Profit before tax161165235265130230131168152181280-59-42
Tax %28%28%29%27%30%21%18%28%24%18%24%138%
Net Profit +11611816619392182107121116148212-141-135
EPS in Rs16.5616.9123.7727.5213.1925.9415.3417.2016.6421.4830.94-20.54-19.67
Dividend Payout %42%74%19%16%34%89%33%52%30%61%42%-44%

Financials of Symphony Ltd

Balance Sheet

Capital structure and asset base

Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital771414141414141414141414
Reserves299312451598652625745825867735747531552
Borrowings +00192618821021925423217014217346
Other Liabilities +116104121119211215236267281291419312384
Total Liabilities4234226057571,0651,0641,2141,3611,3941,2101,3221,030996
Fixed Assets +68777982237318354355351327322171170
CWIP0300620000000
Investments242162292422458412484500527373440268452
Other Assets +112180234252363332375506516510560590374
Total Assets4234226057571,0651,0641,2141,3611,3941,2101,3221,030996

Financials of Symphony Ltd

Cash Flows

Operating, investing and financing cash movement

Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +10489951071401578957125162259-81
Cash from Investing Activity +-3770-65-102-25078-536-12193-41190
Cash from Financing Activity +-66-145-5-29118-241-21-34-124-367-224-95
Net Cash Flow11325-257-61429-10-12-614
Free Cash Flow9084881081311407348114156237-96
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit115%95%82%78%138%100%88%58%128%120%108%-26%

Financials of Symphony Ltd

Ratios

Working capital efficiency and return ratios

Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days233825284540677335533349
Inventory Days701007775967487111137140129193
Days Payable61905555104721009591818279
Cash Conversion Cycle32484848384255888111281162
Working Capital Days-329234110-122261517-1423
ROCE %50%51%58%46%22%29%16%17%15%19%37%21%

Guidance history

How Symphony Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Down 0–2%None planned—Flat
Q4 FY26 call →0–10%FlatNone plannedNone planned—
Q3 FY26 call →10–20%Flat———
Q2 FY26 call →0–10%Flat———

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

3out of 100

Momentum score · price trend

3 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−44.0%8%
Last 6 months−39.6%2%
Last 3 months−25.1%7%

The price is 75.7% below its all-time high of ₹2,101.25 (12 Jan 2018). Stocks more than 20% below their peak have their score halved, so 6 became 3.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Symphony Ltd: 0.4 × 8 + 0.4 × 2 + 0.2 × 7 = 6, halved to 3 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What Symphony Ltd's management said in earlier quarters

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