Outcome of Board Meeting
SYMPHONY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Symphony Limited reported a net loss of ₹141 Crores for FY2025-26 compared to a net profit of ₹213 Crores in the prior year. Revenue from operations declined significantly to ₹1,131 Crores from ₹1,576 Crores (approx 28% decline), impacted by subdued demand in the air cooling business. The company recorded exceptional items of ₹208.57 Crores primarily comprising goodwill impairment of ₹173.09 Crores and PPE/intangible asset impairment of ₹35.47 Crores for its Climate Holdings subsidiary due to underperformance. The Board recommended a final dividend of ₹5 per share (250%) with total dividend for the year at ₹9 per share (450%), subject to shareholder approval. The statutory auditor issued an unmodified opinion. Comparative figures for FY2024-25 were restated due to exchange difference reclassification. Mr. Nrupesh Shah was reappointed as Managing Director – Corporate Affairs for a further five years.
The company swung to a net loss driven by major goodwill and asset impairments and revenue decline. While the auditor gave a clean opinion and the dividend was maintained, the significant loss and revenue contraction signal stress in the overseas operations and domestic cooling business.