Ahmedabad, India – February 5, 2025
Symphony Limited (NSE: SYMPHONY, BSE: 517385) has announced its unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2024. The company reported robust revenue growth and profitability, declared a 3rd interim dividend, and introduced a proposed Employee Stock Option Plan (ESOP).
Key Financial Highlights (Consolidated)
| Metric | Q3 FY25 (₹ Cr.) | Q3 FY24 (₹ Cr.) | 9M FY25 (₹ Cr.) | 9M FY24 (₹ Cr.) | YoY Growth |
|---|
| Revenue from Operations | 242 | 247 | 1,088 | 824 | +32% |
| EBITDA | 76 | 50 | 216 | 125 | +88% |
| Profit Before Tax (PBT) | 170 | 123 | 181 | 123 | +38% |
| Profit After Tax (PAT) | 134 | 100 | 148 | 100 | +34% |
| Earnings Per Share (EPS) (₹) | 8.11 | 5.91 | 19.50 | 14.41 | +35% |
- Revenue Growth: The company’s revenue increased by 32% YoY for the nine-month period.
- EBITDA Surge: A significant 88% YoY increase in EBITDA, attributed to operational efficiencies and cost control.
- PAT Growth: 34% increase in profit after tax, reflecting improved performance in domestic and international markets.
Segment-Wise Performance
Business Segment Revenue
| Segment | Q3 FY25 (₹ Cr.) | Q3 FY24 (₹ Cr.) | 9M FY25 (₹ Cr.) | 9M FY24 (₹ Cr.) |
|---|
| Air Cooling & Other Appliances | 240 | 253 | 1,092 | 833 |
| Corporate Funds | 9 | 9 | 32 | 33 |
Geographical Performance
| Region | Q3 FY25 (₹ Cr.) | Q3 FY24 (₹ Cr.) | 9M FY25 (₹ Cr.) | 9M FY24 (₹ Cr.) |
|---|
| India | 150 | 159 | 737 | 511 |
| Rest of the World | 92 | 88 | 351 | 313 |
The domestic market remained Symphony’s primary revenue driver, with substantial international contributions.
Standalone Financial Performance
| Metric | Q3 FY25 (₹ Cr.) | Q3 FY24 (₹ Cr.) | 9M FY25 (₹ Cr.) | 9M FY24 (₹ Cr.) | YoY Growth |
|---|
| Revenue from Operations | 182 | 177 | 814 | 545 | +49% |
| EBITDA | 52 | 27 | 220 | 117 | +91% |
| PAT | 67 | 43 | 132 | 107 | +23% |
The
standalone revenue grew by 49%, while EBITDA saw an impressive
91% increase YoY, highlighting strong domestic performance.
Dividend Announcement
The Board declared a
third interim dividend of ₹2 per share (100%), payable by February 28, 2025. The record date for the dividend is February 11, 2025.
Strategic & Corporate Announcements
- Employee Stock Option Plan (ESOP):
- The company has proposed an ESOP scheme to enhance employee participation and align interests with shareholders.
- A committee has been constituted to finalize the structure and terms of the plan.
- Provision for Doubtful Debts:
- Symphony made a provision of ₹45.99 crore for receivables from Pathways Retail Pvt. Ltd. (E-commerce distributor).
- The company has initiated legal proceedings under the Bharatiya Nyaya Sanhita Act, 2023 and the Negotiable Instruments Act, 1881.
- A settlement agreement has been executed, with repayment secured against properties in Gurugram and Delhi.
- Share Buyback:
- The company completed a buyback of 2,85,600 shares at ₹2,500 per share, totaling ₹71.40 crore.
- In FY 2023-24, Symphony had bought back 10,00,000 shares at ₹2,000 per share for ₹200 crore.
Management Commentary
Achal Bakeri, Chairman & Managing Director, Symphony Limited, stated:
"Our strong financial performance reflects our commitment to operational excellence and strategic growth. With revenue and EBITDA growing significantly, we continue to strengthen our market position in India and globally. The ESOP initiative will further enhance employee ownership, and our disciplined capital allocation ensures sustainable shareholder value."
Strategic Outlook & Market Positioning
- Expansion Plans: Symphony continues to invest in product innovation, expanding its portfolio in cooling solutions and appliances.
- International Growth: With global revenue contribution increasing, the company remains focused on international markets.
- Cost Optimization & Digital Initiatives: Symphony is leveraging technology and digital transformation to improve efficiencies.
Conclusion
Symphony Limited’s
strong Q3 and nine-month financial performance, coupled with an
interim dividend declaration and ESOP initiative, signals continued confidence in its growth trajectory. The company’s focus on
product innovation, geographical expansion, and operational efficiency positions it well for sustained profitability in the upcoming quarters.
