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Symphony Q2 FY27 results: net profit up 26.3% to ₹24 crore, revenue up 68.7%
Symphony Limited reported consolidated Q2 FY27 revenue of ₹275 crore, up 68.7% from a year earlier, while net profit rose to ₹24 crore and basic EPS increased to ₹3.56. EBITDA was ₹36 crore, but its margin fell to 13.1% from 14.7% in Q2 FY26, and profit declined from Q1 FY27 as revenue and other income decreased.
Key points
- Consolidated revenue was ₹275 crore in Q2 FY27, up 68.7% from ₹163 crore in Q2 FY26 but down 27.2% from ₹378 crore in Q1 FY27.
- EBITDA rose 50.0% year on year to ₹36 crore, while the margin fell 1.6 percentage points to 13.1%; against Q1 FY27, EBITDA fell 21.7% and margin increased 0.9 percentage points.
- Net profit was ₹24 crore, up 26.3% from ₹19 crore a year earlier but down 40.0% from ₹40 crore in Q1 FY27; basic EPS was ₹3.56.
- For H1 FY27, revenue rose 57.7% to ₹653 crore and net profit increased 4.9% to ₹64 crore; basic EPS was ₹9.33.
- The board approved a second interim dividend of ₹2 per equity share for FY27, while management said BISP represented 51% of consolidated revenue.
How did Symphony perform in Q2 FY27?
Symphony reported consolidated revenue of ₹275 crore in Q2 FY27, up 68.7% from ₹163 crore in Q2 FY26 but down 27.2% from ₹378 crore in Q1 FY27. Total income was ₹278 crore, compared with ₹176 crore a year earlier and ₹391 crore in the previous quarter. On the standalone basis, revenue was ₹170 crore, up 9.7%, while PAT was ₹29 crore against ₹28 crore in the year-ago period.
EBITDA was ₹36 crore in Q2 FY27, up 50.0% from ₹24 crore in Q2 FY26 but down 21.7% from ₹46 crore in Q1 FY27. The EBITDA margin was 13.1%, down 1.6 percentage points year on year and up 0.9 percentage points from Q1 FY27. PBT rose to ₹38 crore from ₹34 crore a year earlier but fell from ₹50 crore in the previous quarter.
Net profit was ₹24 crore, up 26.3% from ₹19 crore in Q2 FY26 but down 40.0% from ₹40 crore in Q1 FY27. Profit attributable to owners was ₹20 crore, up 5.3% from ₹19 crore a year earlier and down 50.0% from ₹40 crore in Q1 FY27. Basic EPS was ₹3.56, compared with ₹2.76 in Q2 FY26 and ₹5.77 in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 275 | 378 | 163 | +68.7% | −27.2% |
| Other income | 3 | 13 | 13 | −76.9% | −76.9% |
| Total expenses | 246 | 341 | 142 | +73.2% | −27.9% |
| EBITDA | 36 | 46 | 24 | +50.0% | −21.7% |
| EBITDA margin | 13.1% | 12.2% | 14.7% | −1.6 pp | +0.9 pp |
| Profit before tax | 38 | 50 | 34 | +11.8% | −24.0% |
| Tax | 14 | 10 | 9 | +55.6% | +40.0% |
| Net profit | 24 | 40 | 19 | +26.3% | −40.0% |
| EPS (₹) | 3.56 | 5.77 | 2.76 | +29.0% | −38.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Symphony's costs and profit?
Total expenses increased 73.2% to ₹246 crore from ₹142 crore in Q2 FY26. Cost of materials rose ₹3 crore to ₹15 crore, employee cost increased ₹10 crore to ₹35 crore, depreciation rose ₹3 crore to ₹6 crore and other expenses increased ₹19 crore to ₹50 crore. Finance costs were ₹1 crore against no finance costs in the year-ago quarter.
Other income fell ₹10 crore to ₹3 crore from ₹13 crore in Q2 FY26. The quarter included a ₹6 crore exceptional gain, compared with no exceptional item in the year-ago period. PBT increased ₹4 crore to ₹38 crore, while tax rose ₹5 crore to ₹14 crore and net profit increased ₹5 crore to ₹24 crore.
Against Q1 FY27, total expenses fell ₹95 crore to ₹246 crore. Other expenses declined ₹59 crore to ₹50 crore and cost of materials fell ₹21 crore to ₹15 crore, while employee cost rose ₹1 crore to ₹35 crore. Other income fell ₹10 crore to ₹3 crore, and tax rose ₹4 crore to ₹14 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 15 | 12 | +3 | +25.0% |
| Employee cost | 35 | 25 | +10 | +40.0% |
| Finance costs | 1 | 0 | +1 | |
| Depreciation | 6 | 3 | +3 | +100.0% |
| Other expenses | 50 | 31 | +19 | +61.3% |
| Total expenses | 246 | 142 | +104 | +73.2% |
| Other income | 3 | 13 | −10 | −76.9% |
| Tax | 14 | 9 | +5 | +55.6% |
| Exceptional items | +6 (gain) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Symphony reported consolidated revenue of ₹653 crore, up 57.7% from ₹414 crore in H1 FY26. Total income increased 49.3% to ₹669 crore from ₹448 crore, while PBT rose 4.8% to ₹88 crore from ₹84 crore.
Net profit for the first half was ₹64 crore, compared with ₹61 crore in H1 FY26, an increase of 4.9%. Basic EPS increased to ₹9.33 from ₹8.84, up 5.5%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 653 | 414 | +57.7% |
| Profit before tax | 88 | 84 | +4.8% |
| Net profit | 64 | 61 | +4.9% |
| EPS (₹) | 9.33 | 8.84 | +5.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹996 crore, down from ₹1,029 crore at 31 March 2026, while total equity rose to ₹566 crore from ₹545 crore. Borrowings fell to ₹23 crore from ₹144 crore, and cash declined to ₹27 crore from ₹50 crore. Inventories were ₹218 crore against ₹312 crore, trade receivables ₹65 crore against ₹151 crore, and trade payables ₹141 crore against ₹129 crore.
For H1 FY27, operating cash flow was ₹326 crore, compared with ₹100 crore in H1 FY26. Investing cash flow was ₹176 crore of outflow against ₹115 crore of outflow, while financing cash flow was ₹173 crore of outflow compared with ₹2 crore of outflow. Capital expenditure was ₹6 crore against ₹12 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 996 | 1,029 |
| Total equity | 566 | 545 |
| Borrowings | 23 | 144 |
| Cash and equivalents | 27 | 50 |
| Inventories | 218 | 312 |
| Trade receivables | 65 | 151 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 326 | 100 |
| Cash from investing | −176 | −115 |
| Cash from financing | −173 | −2 |
| Capital expenditure | 6 | 12 |
Source: Company's results filing (XBRL).
How has Symphony done over the last 8 quarters?
Revenue has increased year on year in each of the last two quarters. It rose from ₹163 crore in Q2 FY26 to ₹179 crore in Q3 FY26, ₹338 crore in Q4 FY26 and ₹378 crore in Q1 FY27, before falling to ₹275 crore in Q2 FY27. The highest revenue in the series was Q1 FY27, while Q2 FY26 had the lowest.
Net profit was ₹19 crore in Q2 FY26, ₹20 crore in Q3 FY26 and ₹40 crore in Q1 FY27 before declining to ₹24 crore in Q2 FY27. Q4 FY26 recorded a net loss of ₹218 crore, the lowest point in the series, while Q4 FY25 had the highest profit at ₹79 crore.
The EBITDA margin rose from 10.4% in Q1 FY26 to 14.7% in Q2 FY26 and 16.2% in Q3 FY26, before easing to 13.1% in Q2 FY27. The current margin was higher than Q1 FY27’s 12.2% but lower than the 21.9% recorded in Q4 FY25.
Which businesses drove the quarter?
Air Cooling and Other Appliances generated revenue of ₹273 crore in Q2 FY27, up 61.5% from ₹169 crore in Q2 FY26. Segment EBIT was ₹35 crore, compared with ₹27 crore in the year-ago quarter, and the reported EBIT margin was 12.8%.
Corporate Funds reported revenue of ₹5 crore, down 28.6% from ₹7 crore in Q2 FY26, and EBIT of ₹4 crore against ₹7 crore. The reported EBIT margin for the segment was 80.0%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Air Cooling and Other Appliances | 273 | +61.5% | 35 | 12.8% |
| Corporate Funds | 5 | −28.6% | 4 | 80.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results and limited review reports for the quarter and half year ended 30 September 2026. It also declared a second interim dividend of ₹2 per equity share, equal to 100% of the ₹2 face value, for FY27.
On 29 October 2026, Symphony also filed a link to its updated Q2 FY27 earnings presentation. The same-day filings did not announce a fund raise or management appointments.
What did Symphony's management say?
Management said BISP now contributes 51% of consolidated top line, reducing reliance on India’s summer season. It is launching room air conditioners, seven BLDC fan models and two air purifiers under an outsourced, near-zero-capex model. Management expects no product-specific OPEX or advertising in Q3 FY27, while Summer 2027 brand spending remains discretionary.
Management expects the H2 FY27 standalone blended EBITDA margin to be above the H1 level of 14.4% and said the next two quarters should be somewhat better because coolers will remain the majority of sales. It expects no capex for air conditioners or BLDC ceiling fans, although air purifiers may require a small amount of capex later.
Management set no numeric revenue target for the new categories and plans to scale them cautiously while preserving EBITDA accretion. The initial rollout is expected in one market, followed by progressive expansion and pan-India presence in about a year. Founder, Chairman and Managing Director Achal Bakeri said, “We are going to grow these categories cautiously so that they remain EBITDA accretive.”
Management identified input-cost pressure, dependence on summer temperatures, Middle East disruption, freight costs and tariffs as risks. It also noted that the RAC market is competitive and industry margins are weak, limiting scale for a new entrant. Management said it would not rely on El Niño to lift cooling demand.
How did Symphony shares react?
The filing appeared while the stock was trading. From the price when it appeared, Symphony fell 2.4% after five minutes, 2.9% after 15 minutes and 3.8% after 30 minutes. On the reaction day, the stock closed 1.5% above the previous close of ₹502.00.
Earlier reaction-day moves were mixed: the stock fell 1.4% on 4 August 2026, fell 7.8% on 15 May 2026, rose 4.2% on 28 January 2026 and was unchanged on 6 November 2025.
| After the filing | Stock | Household Appliances median |
|---|---|---|
| 5 minutes | −2.4% | |
| 15 minutes | −2.9% | |
| 30 minutes | −3.8% | |
| Reaction day | +1.5% | −0.1% |
| Next day | −2.8% | −2.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 4 August 2026 | −1.4% |
| 15 May 2026 | −7.8% |
| 28 January 2026 | +4.2% |
| 6 November 2025 | +0.0% |
| 1 August 2025 | −2.4% |
| 7 May 2025 | +6.8% |
| 5 February 2025 | −9.0% |
| 29 October 2024 | −7.6% |
Source: MarketPing price-reaction measurement.
How did other Household Appliances companies do?
Eleven other Household Appliances companies filed for the quarter as of 4 November 2026. Their median revenue growth was 15.1%, compared with Symphony’s 68.7% year-on-year growth. Ten peers grew more slowly than Symphony, while one grew faster.
Of the 11 peers whose profit was compared, seven reported higher profit. Symphony’s revenue growth therefore exceeded the growth recorded by 10 of the other companies, while only one peer grew faster than Symphony.
| Symphony revenue growth (YoY) | +68.7% |
|---|---|
| Median of 11 other Household Appliances companies | +15.1% |
| Companies with slower revenue growth than Symphony | 10 of 11 |
| Companies with faster revenue growth than Symphony | 1 of 11 |
| Companies whose net profit rose | 7 of 11 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Symphony's revenue in Q2 FY27?
Revenue from operations was ₹275 crore, up 68.7% from ₹163 crore in Q2 FY26 (consolidated).
Did Symphony make a profit in Q2 FY27?
Yes. Net profit was ₹24 crore, against a net profit of ₹19 crore in Q2 FY26.
What was Symphony's EPS in Q2 FY27?
Basic earnings per share were ₹3.56, against ₹2.76 in Q2 FY26.
How did Symphony shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.5% from the previous close; the median Household Appliances stock moved −0.1%.
When did Symphony announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval: 1) Unaudited Standalone And Consolidated Financial Results For The Second Quarter And Half Year Ended On September 30, 2026; And 2) 2Nd Interim Dividend On Equity Shares, If Any, For The Financial Year 2026-27. (BSE, 21 October 2026) · PDF
- Financial Result For The Second Quarter And Half Year Ended On September 30, 2026 (BSE, 29 October 2026) · PDF
- The earnings call (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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