Air cooler maker Symphony shares hit 15-month low after it swings into loss in Q4
Mumbai, May 18
Shares of Symphony Limited fell as much as 8 per cent on Monday, marking their biggest single-day decline since February 2025, after the company reported a consolidated net loss for the fourth quarter of FY26 due to large impairment charges linked to its Australian business operations.
The stock was trading 7.47 per cent lower to Rs 725. 5 during noon trade. Shares of the company have declined 11 per cent over the last one month, are down 21 per cent so far in 2026, and have corrected nearly 45 per cent from their recent 52-week high of Rs 1,309.
Symphony reported a consolidated net loss of Rs 218 crore for the March quarter, compared to a net profit of Rs 79 crore in the same period last financial year (Q4 FY25).
The sharp decline in profitability was mainly attributed to exceptional impairment charges related to its Australian subsidiary operations.
According to the company's exchange filing, revenue from operations declined 30.7 per cent year-on-year to Rs 338 crore during the quarter, compared to Rs 488 crore in the corresponding quarter of the previous financial year.
Operating performance also remained under pressure. EBITDA fell 53.3 per cent to Rs 50 crore from Rs 107 crore a year ago, while EBITDA margin narrowed to 14.8 per cent from 21.9 per cent during the same period.
The company said it recognised exceptional impairment charges during the quarter and the financial year ended March 31, 2026.
Symphony impaired goodwill attributable to Climate Holdings Pty Limited, formerly known as Symphony AU Pty Ltd, by Rs 173.09 crore.
The impairment was recorded due to deterioration in business performance and profitability, along with the failure to achieve expected business synergies despite management efforts, the company said in its filing.
Symphony's performance during the quarter was impacted by a combination of weather-related challenges, geopolitical uncertainties and operational issues across its international subsidiaries.
However, the management indicated that the subsidiary businesses performed relatively better than the standalone operations.
— IANS
Reader Comments
As someone who follows Indian markets from the US, this is concerning. Symphony was supposed to be a strong play on India's cooling solutions market, but the Australian acquisition seems to have backfired badly. Revenue down 30% YoY while EBITDA margins halved? That's brutal even by global standards. The management needs to revisit their international strategy.
Yeh sab weather challenges aur geopolitical uncertainties ka bahana hai. Reality is that AC market mein competition bahut badh gaya hai - Voltas, Blue Star, Daikin, all are eating into their share. Plus their coolers are priced high compared to local brands. I've been saying this for 2 years - Symphony needs to innovate or perish. Their product range is stale.
I find it interesting how they're blaming "weather-related challenges" - isn't that the core business driver? If you're an air cooler company and weather hurts your performance, something's fundamentally wrong. Might be poor hedging or distribution issues. The Rs 173 crore goodwill impairment is shocking. This stock needs to find a bottom before I even look at it.
I bought this for my portfolio at Rs 1,200 thinking stable dividend stock hai. Now down 40% 😭 But honestly, the company has strong brand recall in India. If they sort out the Australia mess and focus on domestic growth with new products like energy-efficient coolers, there's potential. But don't catch the falling knife yet. Let Q1 FY27 results show recovery first.
The impairment on Climate Holdings is the big red flag here. ₹173 crore is massive for a company
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