Symphony share price falls 11% as Q3 result disappoints investors

Household appliances maker Symphony's shares fell 10.65 per cent to the day's low of Rs 1,276.3 on the National Stock Exchange (NSE) during intra-day deals on Wednesday, February 5, 2025. The decline in the company's share price followed the announcement of its financial results for the third quarter of the financial year 2024-25 (Q3FY25).

 

In an exchange filing, the company said that during Q3FY25, it incurred a net loss of Rs 10 crore against a net profit of Rs 41 crore reported in the same quarter of the previous fiscal year on the consolidated basis. The company's revenue declined 2 per cent Year-on-Year (Y-o-Y) to Rs 242 crore from Rs 247 crore reported in Q3FY24.

 

Similarly, the company's earnings before interest, taxes, depreciation, and amortization (Ebitda) fell to Rs 29 crore, down 34.1 per cent Y-o-Y from Rs 44 crore reported in Q3FY24.

 

Along with the results, Symphony's board has also declared the third interim dividend of Rs 2 (100 per cent) per equity share with a face value of Rs 2 each for the financial year 2024-25. The said interim dividend, the company stated, shall be payable to shareholders on or before February 28, 2025.

 

Symphony operates in air cooling solutions, manufacturing residential, commercial, and industrial air coolers for customers in 60 countries. Founded in 1988 by Achal Anil Bakeri, the company has expanded its product portfolio over the years to include room heaters, ventilation fans, and domestic flour mills. Symphony is recognized as one of the world's largest manufacturers of residential, commercial, and industrial air coolers. As of February 5, 2025, the company's market capitalisation stands at Rs 8,933.81 crore on the BSE.

 

Shares of Symphony hit their all-time high of Rs 2,212.75 apiece on January 11, 2018, while their all-time low of Rs 0.13 was recorded on January 1, 1998.

 

Symphony shares have a 52-week range of Rs 1,880.95 - Rs 820 on the NSE.

 

At around 2:15 PM on Wednesday, Symphony shares were trading at Rs 1,305 per share, down 8.65 per cent from its previous close of Rs 1,428.50 per share. A combined total of nearly 0.95 million equity shares of Symphony, worth around Rs 126.32 crore, were traded on the NSE and BSE.

 

In comparison, the benchmark NSE Nifty50 was trading flat at 23,743.05, up merely 6.20 points or 0.03 per cent.