Symphony Q4 FY26 Earnings Call Transcript Released; FY26 Revenue Down 28% to ₹1,131 Cr
Symphony Limited's Q4 FY26 consolidated revenue fell 28% to ₹1,131 crore, with PAT at negative ₹141 crore due to a ₹348 crore impairment in Australia. The company declared a final dividend of ₹5 per share. Symphony India's standalone revenue was ₹765 crore. The company has restructured its US business and impaired its Australian investment.
The significant revenue decline, net loss, and a large impairment charge related to the Australian business indicate a material negative impact on the company's financial health and investor sentiment.
The company reported a significant year-on-year decline in revenue and a net loss for the financial year, primarily due to a substantial impairment charge related to its Australian business. While a dividend was declared, the overall financial performance is negative.
Symphony Limited has released the transcript of its earnings conference call for the fourth quarter and financial year ended March 31, 2026, which was conducted on May 18, 2026.
For the full year FY26 on a consolidated basis, the company reported a top line of ₹1,131 crore, a decrease of 28% year-on-year. Profit Before Tax (PBT) before exceptional items stood at ₹149 crore, down from ₹326 crore in the previous year. After accounting for exceptional items, including a one-time impairment provision and net of some write-backs, the Profit After Tax (PAT) was negative ₹141 crore. Capital employed in the core business on a consolidated basis was ₹384 crore, with ROCE at 34% (before exceptional items).
On a standalone basis for Symphony India, revenue was ₹765 crore, down from ₹1,182 crore. PBT (before exceptional items) was ₹164 crore, down from ₹329 crore, and PAT after exceptional items was negative ₹166 crore. Capital employed in Symphony India was ₹78 crore, resulting in an ROCE of 149%.
The company's total treasury as of March 31, 2026, was ₹287 crore, after investing approximately ₹165 crore in Australia to repay its long-term and short-term loans. The Board of Directors declared a final dividend of ₹5 per share on a face value of ₹2, amounting to a total annual payout of ₹62 crore.
For Q4 FY26 on a consolidated basis, revenue was ₹338 crore, down from ₹488 crore. Gross margin remained stable at 46.4%, but EBITDA margin decreased to 15.5% from 21.2% due to economies of scale and operating leverage.
The company has decided to take a balance sheet reset, including an impairment of its entire equity investment in Australia amounting to ₹348 crore (₹298 crore in the current year). The US business has been ring-fenced as a direct subsidiary of Symphony India, with Symphony India acquiring Bonair USA's equity for approximately ₹30 crore and related IPRs for about ₹23 crore. These acquisitions were funded from Symphony India's treasury.
The company also provided performance highlights for its subsidiaries: IMPCO Mexico reported FY26 revenue of ₹182 crore and EBITDA of ₹21 crore. GSK China had FY26 revenue of ₹96 crore and EBITDA of ₹8 crore. Climate Technologies Australia reported FY26 revenue of ₹182 crore, with a PAT of negative ₹11 crore (including US business profit). Symphony Brazil reported a PAT of negative ₹3 crore.
Looking ahead, Symphony India expects decent performance in April and May, provided favorable weather conditions. The company aims to pass on cost increases in the June quarter onwards.
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Symphony Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Symphony Limited. Read the original for the full detail.