MUMBAI — Shares of Symphony Ltd. fell as much as 8% Monday, hitting their lowest level in 15 months, after the air cooler maker reported a consolidated net loss for the fourth quarter of fiscal 2026.
The decline marked the stock’s biggest single-day fall since February 2025. Symphony shares were trading 7.47% lower at Rs 725.50 around noon.
The stock has fallen 11% over the past month, is down 21% so far in 2026 and has corrected nearly 45% from its recent 52-week high of Rs 1,309.
Symphony reported a consolidated net loss of Rs 218 crore for the March quarter, compared with a net profit of Rs 79 crore in the same period last year.
The company’s profitability was hit by large exceptional impairment charges tied to its Australian subsidiary operations.
Revenue from operations fell 30.7% year over year to Rs 338 crore, compared with Rs 488 crore in the corresponding quarter of the previous fiscal year, according to the company’s exchange filing.
Operating performance also weakened. EBITDA dropped 53.3% to Rs 50 crore from Rs 107 crore a year earlier. EBITDA margin narrowed to 14.8% from 21.9%.
Symphony said it recognized exceptional impairment charges during the quarter and for the fiscal year ended March 31, 2026.
The company impaired goodwill attributable to Climate Holdings Pty Ltd., formerly known as Symphony AU Pty Ltd., by Rs 173.09 crore.
Symphony said the impairment reflected deterioration in business performance and profitability, along with the failure to achieve expected business synergies despite management efforts.
The company said its quarterly performance was affected by weather-related challenges, geopolitical uncertainty and operational issues across its international subsidiaries.
Management indicated that subsidiary businesses performed relatively better than Symphony’s standalone operations. (Source: IANS)
