Symphony Limited Faces Headwinds in Q2 FY26, Remains Optimistic for Future Growth

Symphony Limited , a leading player in the air cooling industry, reported a challenging second quarter for the fiscal year 2026, with standalone revenue declining to ₹155.00 crores from ₹259.00 crores in the previous year. The company attributed this performance to an exceptionally weak summer season in 2025, contrasting sharply with the phenomenal summer of 2024.

Financial Performance

The company's financial results for Q2 FY26 reflected the impact of the subdued summer:

Metric	Q2 FY26	Q2 FY25	YoY Change
Revenue	₹155.00 crores	₹259.00 crores	-40.2%
EBITDA	₹27.00 crores	₹72.00 crores	-62.5%
PAT	₹28.00 crores	₹67.00 crores	-58.2%

Despite the quarterly decline, management noted that the first six months of FY26 still represented the third-highest performance in company history, highlighting the resilience of Symphony's business model.

Industry-Wide Impact

The air cooler industry experienced substantial degrowth across all players due to the unfavorable weather conditions. Symphony's Chairman and Managing Director, Mr. Achal Bakeri, emphasized that the company's market share among national brands in the organized sector has remained stable.

Diversification Strategy

Symphony's round-the-year product portfolio, including tower fans, kitchen cooling fans, water heaters, and exports, contributed 21% of quarterly revenue and 26% of trailing 12-month revenue. This diversification strategy has helped mitigate some of the seasonal impacts on the business.

Inventory and Channel Management

Channel inventory levels remain slightly higher than normal due to reduced sales. However, management expects normalization as the season approaches. The company has implemented schemes for distributors and dealers to address current market challenges and boost sales.

Product Innovation

Symphony continues to focus on innovation and market expansion:

Launched 9 new air cooler models in the AirForce range targeting mass and rural markets
Introduced 8 new water heater models
Expanded presence in the metal air cooler market with new plastic alternatives

Financial Position

The company maintains a strong financial position with a treasury of ₹577.00 crores as of September 30, 2025, compared to ₹685.00 crores in the previous year.

Future Outlook

Symphony remains optimistic about future growth prospects:

Expecting normalization of channel inventory by the end of Q3 FY26
Anticipating improved performance in Q4 FY26, traditionally the start of the summer season
Focusing on omnichannel acceleration and leveraging digital platforms
Prioritizing high-margin growth markets and export-led expansion from India

Mr. Bakeri stated, "We are here to make sure that we'll be trying our best to deliver better performance going forward. And we are sure that the next summer will not really be as bad as summer '25, it may not even be as great as the '24 summer. But even if it's a normal summer, the company should do very well."

While the recent performance has been challenging, Symphony Limited remains committed to its long-term growth strategy, leveraging its diverse product portfolio and strong market position to navigate seasonal fluctuations in the air cooling industry.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.50%	-2.57%	-5.21%	-31.89%	-37.83%	+3.23%

Symphony Limited , a leading air cooling solutions provider, has announced its second interim dividend for the financial year 2025-26. The company's Board of Directors, in a meeting held on November 6, 2025, declared an interim dividend of ₹1 per equity share, representing a 50% payout on the face value of ₹2 per share.

Dividend Details

Dividend Amount: ₹1 per equity share
Dividend Percentage: 50% of face value
Face Value: ₹2 per share
Record Date: November 12, 2025
Total Dividend Payout: Approximately ₹6.87 crore

Shareholders whose names appear in the Register of Members of the company as of the record date will be eligible to receive this dividend.

Payment Process

Symphony Limited has outlined the following process for dividend distribution:

Electronic Credit: For shareholders with registered bank accounts, the dividend will be paid through electronic transfer.
Demand Drafts: Shareholders without registered bank details will receive demand drafts at their registered addresses.

Tax Implications

Following the abolition of Dividend Distribution Tax, Symphony Limited has provided detailed guidelines on Tax Deduction at Source (TDS) for various shareholder categories:

Shareholder Category	TDS Rate
SEBI-registered Mutual Funds and certain AIFs	0%
Other Resident Shareholders (dividends below ₹10,000 annually)	Exempt
Other Resident Shareholders (dividends above ₹10,000 annually)	10%
Non-resident Shareholders (including FPIs and FIIs)	20%

Shareholders are advised to ensure their residential status, PAN, category details, email, and address are updated by the record date. Those eligible for tax exemptions must submit the required documentation to the company's registrar by November 12, 2025.

Financial Performance Context

The dividend declaration comes in the context of Symphony's recent financial performance. For Q2 FY26, the company reported:

Consolidated Revenue: ₹163.00 crore (44% YoY decrease)
EBITDA: ₹25.00 crore (68% YoY decrease)
PAT: ₹19.00 crore (66% YoY decrease)

Despite the challenging quarter, Symphony's decision to maintain its dividend payout reflects the company's commitment to shareholder returns and its confidence in long-term business prospects.

Symphony Limited continues to focus on expanding its product portfolio and implementing strategic initiatives to drive growth across its global operations. The company recently launched multiple new SKUs in both air coolers and water heaters, demonstrating its ongoing commitment to product innovation and market expansion.

Investors and shareholders are advised to consult their tax advisors for specific tax implications related to this dividend announcement.