Symphony Limited has announced that its Board of Directors will meet on January 28, 2026, to consider key financial matters for the third quarter of FY2026. The company formally notified both the National Stock Exchange of India Limited and BSE Limited about this scheduled board meeting on January 19, 2026.

Board Meeting Agenda

The board meeting has been convened to address two primary matters:

The meeting will focus on reviewing and approving the company's performance for the quarter ended December 31, 2025. Additionally, the board will deliberate on the possibility of declaring a third interim dividend for the current financial year, though the final decision remains subject to board approval.

Regulatory Compliance

This announcement has been made in strict adherence to regulatory requirements. The notification complies with the provisions of Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Company Communication

The formal intimation was signed by Mayur Chimanbhai Barvadiya, Company Secretary and Head - Legal, on January 19, 2026. The communication was simultaneously sent to both major stock exchanges where Symphony Limited's shares are listed - the National Stock Exchange of India Limited and BSE Limited.

Investors and stakeholders will need to await the outcome of the January 28, 2026 board meeting for the official announcement of Q3FY26 financial results and any decision regarding the interim dividend declaration.

Symphony Limited , a prominent player in the air cooling industry, has received a significant setback in the form of a ₹21.05 crore penalty order from the Commissioner of Central GST and Central Excise Commissionerate, Daman. This development has brought the company's tax compliance practices into the spotlight.

Penalty Details

The penalty order is related to a series of Show Cause Notices issued to Symphony Limited, covering the period from 2012 to 2017. The crux of the matter revolves around valuation disputes, highlighting the complex nature of GST compliance in India.

Company's Response

Symphony Limited has not taken this penalty order lying down. The company has announced its intention to challenge the order by filing an appeal before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT). This decision is based on two key factors:

1. Previous Favorable Rulings: CESTAT has reportedly passed favorable orders in similar and identical matters related to Symphony Limited and other companies in the past.

2. Legal Opinion: The company's external legal advisors have opined that the findings in the current order lack substantive merit.

Potential Impact and Outlook

While the penalty amount of ₹21.05 crores is substantial, Symphony Limited appears confident in its legal standing. The company's decision to appeal suggests a belief in the strength of its case and previous precedents.

It's worth noting that such regulatory challenges are not uncommon in the Indian business landscape, especially when it comes to indirect tax matters. The outcome of this appeal could have implications not just for Symphony Limited, but potentially for other companies facing similar valuation disputes.

As the situation unfolds, stakeholders will be keenly watching the CESTAT proceedings. The final resolution of this case could provide valuable insights into the interpretation of GST valuation rules and their application in the air cooling industry.

Symphony Limited's ability to navigate this regulatory challenge will be crucial for its financial health and reputation in the coming months. Investors and industry observers would do well to keep a close eye on the developments in this case.