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Revenue from operations for Symphony Limited surged 49% year-on-year to ₹814 Crore for the nine months ending December 2024, while consolidated revenue rose 32% to ₹1,088 Crore. The gross margin improved across both standalone (50.1%) and consolidated (50.5%) operations, reflecting operational efficiencies. Standalone EBITDA jumped 91% to ₹188 Crore, with a margin of 23.1%, largely driven by higher-margin products, despite some low-margin models affecting quarterly results. The company declared a 3rd interim dividend of ₹2 per share, resulting in a total payout of ₹123.60 Crore for the nine months, or 92% of consolidated profit.
On the operational front, Symphony reports strong demand for its new line of air cooler models, with unbilled advances reaching record highs and sales exceeding ₹150 Crore in Q3. The initial launch of storage water heaters is being well-received, and the company is expanding its market reach through various retail and e-commerce channels. However, a provision of ₹46 Crore was made for doubtful debts, reflective of prudent financial management while pursuing necessary legal action. Investors should monitor upcoming quarters for potential growth spurred by new product lines and seasonal demand.