India's No. 1 Cooler Company Announces Q4FY26 Results: FY26 Revenue Falls 28%, Announces Rs 5 per Share Dividend

On Friday, shares of Symphony Ltd closed at Rs 788.50 per share, up 2.23 per cent from its previous closing of Rs 771.30 per share. The stock touched an Intraday high of Rs 795.05 per share, rising 3.08 per cent during the session. The stock’s 52-week high is Rs 1,340 per share and its 52-week low is Rs 685 per share.

Symphony Ltd reported a weak set of financial results for FY25-26, impacted by sluggish domestic demand, inventory overhang at channel partners, pressure in export markets, and continued weakness in its Australia business.

On a consolidated basis, revenue from operations declined 28 per cent year-on-year to Rs 1,131 crore in FY25-26 from Rs 1,576 crore in FY24-25. EBITDA fell 60 per cent to Rs 128 crore compared to Rs 316 crore in the previous financial year. EBITDA margin contracted sharply to 11.3 per cent from 20.1 per cent. Profit before Tax, before exceptional items, dropped 54 per cent to Rs 149 crore from Rs 326 crore.

On a standalone basis, revenue from operations declined 35 per cent to Rs 765 crore from Rs 1,182 crore. EBITDA slipped 60 per cent to Rs 115 crore from Rs 287 crore, while EBITDA margin narrowed to 15 per cent from 24.2 per cent. Standalone profit before tax fell 50 per cent to Rs 164 crore from Rs 329 crore.

For the March 2026 quarter, consolidated revenue from operations declined 31 per cent year-on-year to Rs 338 crore from Rs 488 crore. EBITDA fell 49 per cent to Rs 52 crore, while EBITDA margin contracted to 15.5 per cent from 21.2 per cent. Quarterly consolidated PBT before exceptional items dropped 53 per cent to Rs 52 crore.

Standalone quarterly revenue fell 46 per cent to Rs 199 crore from Rs 368 crore. EBITDA declined 66 per cent to Rs 34 crore from Rs 99 crore, while EBITDA margin narrowed to 17 per cent from 26.9 per cent. Standalone quarterly PBT dropped 63 per cent to Rs 41 crore from Rs 109 crore.

The Board of Directors proposed a final Dividend of Rs 5 per share with a face value of Rs 2 for FY25-26. With this, the company’s year-to-date dividend payout stands at around Rs 62 crore.

Nrupesh Shah, Managing Director (Corporate Affairs), said the company’s standalone revenue performance remained soft due to a historically high base in March 2025 and spillover demand from December 2024.

The company said its Beyond India Summer Portfolio (BISP), which includes LSV, tower fans, kitchen cooling fans, water heaters, India exports, and overseas subsidiary sales, contributed 49 per cent of FY26 consolidated revenue. On a standalone basis, BISP revenue stood at Rs 192 crore, accounting for 25 per cent of revenue and helping reduce dependence on India’s seasonal air cooler business.

Symphony said revenue at IMPCO Mexico and SCL Brazil remained broadly flat because of channel inventory overhang. In China, GSK China repaid Rs 26 crore of Symphony’s loan during calendar year 2026, reducing the outstanding amount to Rs 4 crore from a peak of Rs 60 crore in May 2024.

The company highlighted strong momentum in the U.S. business, which remained profitable on both a quarterly and annual basis. However, Australia business Climate Technologies Pty Ltd (CTPL) continued to face operational challenges with stagnant revenue and negative profit after tax.

Symphony stated that domestic demand remained weak during the March 2026 quarter as channel partners remained cautious due to excess inventory. Export revenue was also impacted by geopolitical challenges in the Middle East. However, the company noted that business momentum has improved since early April due to favourable weather conditions in South and West India, while summer demand is yet to fully pick up in North and Northeast India.

The company also announced a strategic balance sheet reset for its Australia operations. Symphony undertook impairments worth around Rs 298 crore at the standalone level and around Rs 259 crore at the consolidated level in FY25-26. The move was aimed at aligning carrying values with current business realities and structural changes in the Australian market.

The company attributed the Australian challenges to weakness in the housing and Construction cycle, regulatory changes affecting legacy gas-based products, and pressure on the acquired business’s financial performance. Symphony clarified that no additional capital allocation would be made to Australian subsidiaries beyond approved transactions and essential regulatory or shareholder-protection requirements.

Further, the Board approved the acquisition of intellectual property rights held by CTPL for around Rs 23 crore and the acquisition of 100 per cent equity in Bonaire USA LLC for around Rs 30 crore. Both transactions will be funded through Symphony’s treasury, subject to regulatory approvals.

The company said these acquisitions will bring key brands, patents, trademarks, and designs directly under the listed parent company and improve ownership clarity. The move will also strengthen control over core intangible assets, improve visibility into the U.S. business performance, and reduce CTPL’s working capital borrowings.

Founded in 1988 in Gujarat, Symphony Ltd operates in over 60 countries and is regarded as one of the world’s leading air cooler companies. The company manufactures residential, industrial, and commercial air cooling products and focuses on innovation, energy efficiency, and sustainable cooling solutions.

The company has a market cap of over Rs 5,414.74 crore. The stock price has fallen over 39.75 per cent in the last 1 year. The stock has delivered returns of around 15.11 per cent from its 52-week low of Rs 685 per share.

Disclaimer: The article is for informational purposes only and not investment advice.

What do you think about Symphony Ltd’s long-term growth prospects after its Australia business reset and U.S. expansion strategy? Share your views in the comments below.