Q3 2026 Symphony Ltd Earnings Call Transcript
Key Points
- Symphony Ltd (BOM:517385) maintained a stable top-line performance with INR182 crores, consistent with the previous year.
- The company announced a third interim dividend of INR2 per share, totaling INR14 crores, with a total interim dividend of INR28 crores for the year.
- Symphony's return on capital employed (ROCE) is impressive at 371%, indicating efficient use of capital.
- The company has a strong market leadership position, with Symphony's sales exceeding the combined sales of the top 3-4 competitors in the domestic air cooler market.
- Symphony's non-core product categories, such as large space ventilated air cooling and water heaters, contribute over 25% to the business, showing diversification and growth potential.
- The EBITDA for the quarter decreased to INR31 crores from INR34 crores, primarily due to elevated advertisement and sales promotion expenses.
- Consolidated financials show a decline in top-line revenue by 27% for the 9-month period, from INR1,088 crores to INR793 crores.
- The gross profit margin percentage decreased by about 2% year-over-year at the consolidated level.
- Subsidiaries like Climate Technology Australia and Mexico showed mixed performance, with some reporting losses or reduced profitability.
- The proposed divestment of the stake in Mexico and climate technology was rolled back due to valuation gaps and evolving geopolitical situations, indicating challenges in strategic execution.
Ladies and gentlemen, good day and welcome to the Q3 FY '26 earnings conference call of Symphony Limited, hosted by Smith's Institutional Equities. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mrs. Shraddha Kapadia from Smith's Institutional Equities.
Thank you and over to you, ma'am.
Thank you, Michelle. Good morning everyone, and a warm welcome to Q3 FY '26 awning conference call of Symphony Limited. We have with us today the senior management team of Symphony Limited, represented by Mr. Achal Bakeri, Chairman and Managing Director; Mr. Nrupesh Shah, Managing Director of Corporate Affairs; Mr. Amit Kumar, Executive Director and Group CFO; And Mr. Rajesh Mishraj, CEO International Business. I would now like to hand over the call to management.
Thank you and over to you.
Good morning, everybody, and welcome to this
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