Symphony Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Symphony Ltd filed with BSE on 11 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Symphony reported consolidated Q1 FY27 revenue of ₹378 crore, up 8% YoY, with EBITDA at ₹48 crore and PAT at ₹40 crore, while management noted these figures included one-time items that, if excluded, would show adjusted EBITDA of ₹53 crore and adjusted PAT of ₹43 crore. Domestic standalone revenue grew 15% YoY to ₹241 crore, with modern trade channels growing over 100% and no inventory overhang remaining as of quarter end. Bonaire USA and GSK China posted strong growth of 35% and 43% respectively, while IMPCO Mexico and CTPL Australia remained weak due to mild summers and reduced demand.
Numbers mentioned
Consolidated Revenue: ₹378 crore (Q1 FY27)
p. 3
“So, on a consolidated basis for June '26, revenue stands at ₹378 crore, up by 8% YoY”
Nrupesh Shah, page 3 of the filed PDF · View the filing
Consolidated EBITDA: ₹48 crore (Q1 FY27)
p. 3
“EBITDA stands at ₹48 crore, up from ₹38 crore, up by 26%”
Nrupesh Shah, page 3 of the filed PDF · View the filing
Consolidated PAT: ₹40 crore (Q1 FY27)
p. 3
“while Consol PAT stands at ₹40 crore, down from ₹42 crore”
Nrupesh Shah, page 3 of the filed PDF · View the filing
Adjusted Consolidated EBITDA: ₹53 crore (Q1 FY27)
p. 3
“EBITDA for June '26 is ₹ 53 crore versus ₹38 crore, while Consol. PAT ₹43 crore versus ₹ 35 crore i.e. up by 23%”
Nrupesh Shah, page 3 of the filed PDF · View the filing
Gross Margin: 49.8% (Q1 FY27)
p. 3
“we have marginally increased the gross margin percentage to 49.8%, while EBITDA margin percentage to 12.6%”
Nrupesh Shah, page 3 of the filed PDF · View the filing
BISP contribution (consolidated TTM): ₹560 crore, ~48% (TTM)
p. 3
“the sales, product wise or segment wise, not dependent upon Indian summer, constituted about ₹560 crore on a consol basis in trailing 12 months i.e. almost 48%”
Nrupesh Shah, page 3 of the filed PDF · View the filing
Bonaire USA revenue growth: 35% (Q1 FY27)
p. 4
“Bonaire USA is now back to track and revenue grew by 35% with a robust profitability mainly on account of successful scale-up of new models of air-cooler.”
Nrupesh Shah, page 4 of the filed PDF · View the filing
GSK China revenue growth: 43% (Q1 FY27)
p. 4
“GSK China revenue grew by 43% and operating leverage lifted the profitability”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Standalone Revenue: ₹241 crore (Q1 FY27)
p. 4
“On a standalone basis i.e. Symphony India, revenue stands at ₹241 crore versus ₹229 crore”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Standalone EBITDA: ₹30 crore (Q1 FY27)
p. 4
“while EBITDA stands at ₹30 crore versus ₹24 crore and PAT ₹28 crore versus ₹37 crore”
Nrupesh Shah, page 4 of the filed PDF · View the filing
India domestic sales growth: 15% (Q1 FY27)
p. 4
“domestic sales i.e. India revenue grew by 15%, despite huge inventory overhang before the summer”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Standalone ROCE: 164% (Q1 FY27)
p. 4
“core capital employed on standalone is ₹73 crore versus ₹136 crore, translating into ROCE percentage of 164, while return on net worth at 22%”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Consolidated ROCE: 67% (Q1 FY27)
p. 4
“translating into consol ROCE percentage of 67 and return on net worth of 18%”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Interim Dividend: ₹1 per share (Q1 FY27)
p. 4
“the Board of Directors had announced interim dividend of ₹1 per share on a face value of ₹2 with a total payout of about ₹7 crore.”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Bonaire USA topline and EBITDA: ₹36 crore topline, ₹18 crore EBITDA (Q1 FY27)
p. 7
“For Bonaire USA, the top line is ₹36 crore versus ₹27 crore, and EBITDA is ₹18 crore versus ₹7 crore.”
Nrupesh Shah, page 7 of the filed PDF · View the filing
IMPCO Mexico topline and EBITDA: ₹54 crore topline, ₹3 crore EBITDA (Q1 FY27)
p. 7
“Then IMPCO Mexico, the top line is ₹54 crore versus ₹66 crore and EBITDA is ₹3 crore versus ₹7 crore.”
Nrupesh Shah, page 7 of the filed PDF · View the filing
CTPL Australia topline and EBITDA: ₹27 crore topline, negative ₹4 crore EBITDA (Q1 FY27)
p. 7
“as far as CTPL Australia is concerned, topline is ₹27 crore versus ₹31 crore and EBITDA is negative ₹4 crore versus negative ₹2 crore.”
Nrupesh Shah, page 7 of the filed PDF · View the filing
Price hikes (excluding household coolers): 7% to 10% (Q1 FY27)
p. 7
“In the other segment, we have taken 7% to 10% of a price hike.”
Achal Bakeri, page 7 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Margin pressure — short term
stated conditionally by Achal Bakeri
p. 5
“So, in the short term, margins are likely to be impacted.”
Achal Bakeri, page 5 of the filed PDF · View the filing
General trade and other channel growth — FY27
stated as an aspiration by Nrupesh Shah
p. 6
“we expect general trade in particular and all other trade channels should register growth which is also our expectation and business plan.”
Nrupesh Shah, page 6 of the filed PDF · View the filing
Mexico summer sales growth — summer of '27
stated conditionally by Achal Bakeri
p. 9
“we hope and we expect that the summer of '27, statistically, it will be almost impossible for it to be a mild summer.”
Achal Bakeri, page 9 of the filed PDF · View the filing
CTPL Australia capital allocation — no further capital allocation
stated firmly by Nrupesh Shah
p. 4
“we are reinforcing our commitment, there won't be any further capital allocation.”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Bonaire USA and GSK China revenue trajectory — next two quarters
stated conditionally by Achal Bakeri
p. 10
“the next two quarters, you won't see much revenue in the US market, because primarily, it's coolers and coolers, as you know are sold only in the summer.”
Achal Bakeri, page 10 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said costs remain elevated and margin pressure is likely in the short term, though some cost will be passed on to the market.
Answered by Achal Bakeri
Asked by Aditya Bhartia: Will margins face pressure from rising costs in coming quarters?
p. 5
“So, in anticipation of a normalization, which has to happen sooner or later, we will pass on some, but not all of it.”
Achal Bakeri, page 5 of the filed PDF · View the filing
Management attributed the growth to lack of channel inventory in modern trade versus general trade carryover, and said such high growth rates are unlikely to continue.
Answered by Achal Bakeri
Asked by Balasubramaniam: What drove the 100%+ growth in modern trade and is it sustainable?
p. 6
“we cannot expect, this kind of growth, though we will be very happy if, this kind of growth continues. But that's very unlikely to happen.”
Achal Bakeri, page 6 of the filed PDF · View the filing
Management said the SKUs are rebranded Indian products, with the Air Force model driving the biggest sales uptick, aided by a hot US summer.
Answered by Achal Bakeri
Asked by Balasubramaniam: What SKUs drove Bonaire USA's growth and are they US-specific?
p. 6
“They are essentially rebranded Indian SKUs.”
Achal Bakeri, page 6 of the filed PDF · View the filing
Management said no price hikes were taken in household coolers, but 7-10% hikes were taken in other segments, with further hikes possible depending on cost trends.
Answered by Achal Bakeri
Asked by Haider Kachwalla: What price hikes have been taken given rising raw material costs?
p. 7
“As of now, we have not really taken in the household cooler segment. In the other segment, we have taken 7% to 10% of a price hike.”
Achal Bakeri, page 7 of the filed PDF · View the filing
Management said the strategy is to avoid deploying additional capital while doing what is possible within existing resources.
Answered by Nrupesh Shah
Asked by Veenit Pasad: What is the strategy to turn around the Australian business?
p. 8
“our strategy is not to deploy any additional capital and whatever best can be done without deploying any additional capital in our Australian business.”
Nrupesh Shah, page 8 of the filed PDF · View the filing
Management said the Middle East remains affected and rising costs elsewhere are dampening buyer sentiment and demand.
Answered by Rajesh Mishra
Asked: Have export shipments fully resumed or are disruptions continuing?
p. 10
“Overall, the costs have gone up, which is also impacting the buyer sentiment. So, people are more cautious because the landed costs have gone up and they are not able to pass on the entire increase.”
Rajesh Mishra, page 10 of the filed PDF · View the filing
Management said Q1 demand was patchy in North and East India, and coming quarters will see primary (off-season) sales rather than secondary sales.
Answered by Rajesh Mishra
Asked: How have secondary sales trended after weather normalized?
p. 10
“the Q1 was patchy as far as North India and even East India is concerned.”
Rajesh Mishra, page 10 of the filed PDF · View the filing
Risks flagged
Elevated raw material and commodity costs due to geopolitical situation
p. 5
“the costs are still fairly elevated. So at least in the short term, we expect there to be margin pressure”
Achal Bakeri, page 5 of the filed PDF · View the filing
CTPL Australia revenue softness
p. 4
“CTPL Australia revenue continues to soften, but we are reinforcing our commitment, there won't be any further capital allocation.”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Two consecutive mild summers impacting Mexico sales
p. 9
“we went through two consecutive, bad summers. And by that we mean mild summers.”
Achal Bakeri, page 9 of the filed PDF · View the filing
Middle East export markets remain affected by geopolitical disruption
p. 10
“the Middle East, which was primarily impacted, continues to remain affected.”
Achal Bakeri, page 10 of the filed PDF · View the filing
Rising landed costs dampening export buyer sentiment
p. 10
“the costs have shoot up significantly. So, that is impacting the overall demand.”
Rajesh Mishra, page 10 of the filed PDF · View the filing
Standalone export decline due to geopolitical and shipping disruptions
p. 4
“standalone exports from India declined mainly on account of geopolitical and shipping disruptions.”
Nrupesh Shah, page 4 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.