Symphony Limited has successfully obtained a waiver from the National Stock Exchange of India (NSE) for a fine that was imposed due to delayed submission of Related Party Transactions disclosure. The development marks a positive resolution to the regulatory compliance issue that had been pending since the half year ended September 30, 2025.

Background of the Compliance Issue

The fine was originally levied by NSE for Symphony's delayed submission of Related Party Transactions Disclosure as required under Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure pertained to the half year ended September 30, 2025, and the company had previously communicated about this matter through its disclosure dated January 28, 2026.

Company's Response and Clarifications

Following the imposition of the fine, Symphony took proactive steps to address the situation:

• Submitted clarifications to NSE on November 7, 2025
• Provided additional clarifications on November 28, 2025
• Formally applied for waiver of the levied fine on December 19, 2025

NSE's Favorable Decision

The NSE has now favorably considered Symphony's waiver request through its official communication. The key details of the approval are:

Regulatory Compliance Advisory

While granting the waiver, NSE has advised Symphony to ensure compliance with Listing Regulations and other applicable regulations in future. This standard advisory emphasizes the importance of timely regulatory filings and adherence to disclosure requirements.

Company Communication

The disclosure was signed by Mayur Barvadiya, Company Secretary and Head - Legal of Symphony Limited, on March 12, 2026. The company has provided a copy of NSE's approval letter as Annexure-A for stakeholder reference, demonstrating transparency in its regulatory communications.

Symphony Limited announced its Q3FY26 financial results for the quarter ended December 31, 2025, showing mixed performance with declining profitability despite strategic dividend distribution and key corporate decisions.

Financial Performance Overview

The company reported consolidated financial results that reflected challenging market conditions during the third quarter of FY26.

For the nine months ended December 31, 2025, the company achieved revenue from operations of ₹593 crores compared to ₹875 crores in the corresponding period of FY25, while net profit stood at ₹81 crores versus ₹134 crores in the previous year.

Dividend Declaration and Corporate Actions

The Board of Directors approved several significant decisions during their meeting held on January 28, 2026.

Strategic Divestment Process Rolled Back

In a major strategic reversal, Symphony Limited decided to roll back the divestment process for its wholly owned subsidiaries that was initiated in April 2025. The company had engaged with multiple strategic and financial investors through a comprehensive global outreach for Climate Holdings Pty Ltd., Australia and IMPCO S. de R.L. de C.V., Mexico.

The Board cited several factors for this decision:

• No proposal received aligned with the company's value expectations
• Long-term strategic considerations remained unmet
• Rapidly evolving geopolitical landscape
• Shifting macroeconomic dynamics
• Heightened external uncertainty reinforced strategic advantage of maintaining direct presence

Leadership Changes

The company announced a significant change in its key managerial personnel. Mr. Amit Kumar (DIN: 01946117) formally expressed his intention to resign from his position as Executive Director and Group Chief Executive Officer. The Board has accepted his resignation and authorized Mr. Achal Bakeri, Chairman and Managing Director, to finalize the effective date for relinquishment of responsibilities.

Exceptional Items and Recovery

The company reported exceptional items during the quarter, including recovery of ₹4.00 crores from M/s Pathways Retail Pvt Ltd, Delhi, and recognition of ₹1.40 crores incremental liability due to New Labour Codes effective from November 21, 2025.

Segment Performance

The Air Cooling and Other Appliances segment showed varied performance across different geographies, with India contributing ₹159 crores and Rest of the world contributing ₹20 crores to the revenue from operations during Q3FY26.

The company continues to maintain its position as a world leader in air cooling solutions, operating across residential, commercial, and industrial spaces in over 60 countries worldwide.