Symphony Limited's Integrated Annual Report for FY 2025-26 captures a year the company describes as a "decisive reset" — one shaped by an unusually weak Indian summer, comprehensive restructuring of its Australia business, and the continued scaling of its Beyond India Summer Products (BISP) segment. While reported financials were materially impacted by exceptional items and subdued seasonal demand, the company's core business model demonstrated resilience in gross margins and capital efficiency.

Financial Performance: Standalone and Consolidated

FY 2025-26 saw a significant contraction in revenues and profitability across both standalone and consolidated accounts, driven primarily by volume pressure and exceptional charges. The following table summarises the key financial metrics:

Standalone revenues moderated by 35% to ₹764.86 Crores, and profit before tax (excluding exceptional items) declined 50% to ₹164 Crores. The company attributed the volume decline primarily to a weak and inconsistent summer season across India, which led to elevated trade inventory and cautious procurement behaviour. Gross margin resilience, however, demonstrated the underlying strength of Symphony's brand, sourcing discipline, and asset-light operating model.

Australia Business: Comprehensive Restructuring

The most significant development of FY 2025-26 was the comprehensive restructuring of Symphony's Australia business. The company impaired historical Australia exposure, deleveraged the subsidiary structure, and committed to no further capital allocation to the Australian business.

Key intellectual property rights and Bonaire USA have been transferred to the parent company, simplifying the Group structure. The Board approved the acquisition of 100% stake in Bonaire USA LLC from Climate Technologies Pty Limited on May 15, 2026, making it a direct wholly owned subsidiary of Symphony. The manufacturing site of Climate Technologies Pty Limited at Salisbury was closed and vacated on July 03, 2025. These actions are expected to materially reduce future downside risk, enhance governance and capital allocation discipline, and improve transparency for shareholders.

BISP: From Adjacency to Second Growth Engine

The Beyond India Summer Products (BISP) segment achieved critical mass during FY 2025-26, evolving from a supplementary revenue stream into a meaningful pillar of Symphony's business.

The BISP portfolio — encompassing international air cooler sales in complementary seasons, tower fans, water heaters, large-space ventilation, and other adjacent categories — has already achieved EBITDA positivity. In certain segments, particularly large-space ventilation, profitability profiles are comparable to or superior to traditional residential cooling categories. This transition reflects a deeper philosophical shift within the organisation from season-led concentration towards portfolio-led resilience.

Dividend and Capital Allocation

Despite reporting a loss due to exceptional items, Symphony maintained its commitment to shareholder returns in line with its Dividend Distribution Policy.

The company also highlighted key capital efficiency metrics: Return on Capital Employed (of core business) at 149%, and Return on Net Worth (excluding exceptional items) at 15%.

ESG and Sustainability Highlights

Symphony's ESG performance in FY 2025-26 reflected progress across environmental, social, and governance dimensions.

Around 85% of Symphony's 70+ air cooler models correspond to Bureau of Energy Efficiency's 5-star rating. The company completed Life Cycle Assessments (LCAs) for 14 selected product SKUs during the year. Input material sourced directly from MSMEs/small producers increased from 51% to 73%, and material sourced from within India rose from 91% to 96.6%.

Annual General Meeting and Corporate Governance

The 39th Annual General Meeting is scheduled for Tuesday, August 04, 2026 at 01:30 p.m. through Video Conference and other audio-visual means. The e-voting period runs from Friday, July 31, 2026 (09:00 a.m.) to Monday, August 03, 2026 (05:00 p.m.), with a cut-off date of Tuesday, July 28, 2026. Key AGM business includes adoption of audited financial statements, confirmation and declaration of dividends, re-appointment of Ms. Jonaki Bakeri as director retiring by rotation, and re-appointment of Mr. Nrupesh Shah as Managing Director – Corporate Affairs for a further period of 5 years effective November 01, 2026.

The Board comprises seven directors, with more than 50% being Independent Directors and women representing 42.86% of the Board. The company contributed ₹98.91 Crores to the exchequer during FY 2025-26 by way of duties and taxes on a standalone basis. Statutory auditors M/s. B S R & Co. LLP issued an unqualified audit report, and the Secretarial Audit Report by M/s. SPANJ & Associates contained no qualifications or adverse remarks.

Symphony Limited has issued a communication regarding the Tax Deduction at Source (TDS) provisions applicable to the final dividend of ₹5.00 (250%) per equity share for FY 2025-26. The dividend, declared by the Board on May 15, 2026, is payable to shareholders whose names appear in the Register of Members as on the record date of Friday, July 17, 2026. The company has mandated that dividends will be paid exclusively through electronic modes approved by the Reserve Bank of India, effectively discontinuing the issuance of physical warrants, cheques, or drafts.

Mandatory Shareholder Details

To ensure compliance with TDS regulations under the Income-tax Act, 2025, all shareholders must update specific details with their depository participant or the registrar and share transfer agent by the record date. Required information includes residential status (Resident or Non-Resident for TY 2026-27), a valid Permanent Account Number (PAN), shareholder category, email ID, and address. Shareholders holding shares in physical form must submit Form ISR-1, ISR-2, or SH-13, along with a cancelled cheque and client master form, to M/s. Bigshare Services Private Limited.

TDS Rates and Documentation

The applicable TDS rate varies based on the shareholder's category and residential status. For resident shareholders, Mutual Funds registered with SEBI and Category I and II Alternative Investment Funds (AIFs) are subject to a 0% TDS rate upon submission of valid declarations and registration certificates. Other resident shareholders face a 10% TDS rate, though this is waived if the aggregate dividend distribution does not exceed ₹10,000 or if valid Form 121 is furnished. In the absence of a valid PAN, TDS will be deducted at 20%.

Non-resident shareholders, including Foreign Portfolio Investors (FPIs) and Foreign Institutional Investors (FIIs), are subject to a 20% TDS rate plus applicable surcharge and cess. To claim benefits under the Double Tax Avoidance Agreement (DTAA), non-residents must submit a Tax Residency Certificate, self-declaration in Electronic Form 41, and a declaration confirming no Permanent Establishment in India. Category I and II AIFs among non-residents are eligible for 0% TDS provided they submit valid SEBI registration and exemption declarations.

Compliance and Submission Deadlines

Shareholders must email self-attested documents to tds@bigshareonline.com and investors@symphonylimited.com or send physical copies to Bigshare Services Private Limited in Mumbai on or before Friday, July 17, 2026. The company cautioned that documents received physically after the cutoff date will not be considered. Failure to provide complete or accurate information may result in TDS being deducted at the maximum applicable rate. Shareholders can claim refunds for any excess tax deducted by filing their income tax returns.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE225D01027/6d9b3093-a76f-4a13-b456-2ea115826862.pdf