Symphony Q4 Results: Net Profit Rises Rs 200%; Dividend Announce Rs 8 Sh

Symphony Limited, a renowned manufacturer of air cooling solutions, on Tuesday reported its consolidated net profit surged over 200% to reach Rs 48 crore in the January-March quarter, compared to Rs 16 crore in the corresponding period the previous year. This stellar performance underscores the company's resilience and ability to capitalise on market opportunities.

In an exchange filing on Tuesday, April 30, 2024, Symphony Limited disclosed that its board of directors has approved a substantial 400 percent dividend payment on each stock. This translates to Rs 8 per equity share with a face value of Rs 2 for the fiscal year 2023-24, reflecting the company's commitment to creating value for its shareholders.

"The Board of Directors has recommended a final dividend of Rs 8/- (400%) per equity share of Rs 2/-, each amounting to Rs 55.17 crore for FY24. The total dividend for FY24 aggregates to Rs 13/- (650%) per equity share, amounting to Rs 89.64 crore, including three interim dividends of Rs 5/- (250%) per equity share," the company said in a statement.

In terms of revenue, Symphony Limited recorded a consolidated revenue of Rs 332 crore in the quarter under review, marking a substantial increase of 7.8 percent year-on-year from Rs 308 crore in Q4 FY23. This growth trajectory reflects the company's robust market positioning and effective execution of strategic initiatives amidst evolving consumer preferences and market dynamics.

Furthermore, Symphony Limited's consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) witnessed a significant uptick, reaching Rs 57 crore compared to Rs 23 crore year-on-year. The consolidated margin also improved substantially to 17.2 percent from 7.5 percent in the previous year, underscoring the company's operational efficiency and cost management efforts.

Symphony Limited witnessed positive momentum in the market, trading at Rs 981.95, up by approximately 3.41 percent from the previous close of Rs 949.55. This upward movement reflects investor confidence in the company's financial performance and growth prospects.

Symphony Limited's robust Q4 performance, marked by significant profit growth and a substantial dividend declaration, underscores its resilience, operational excellence, and commitment to creating long-term value for its stakeholders. With a strong market presence, innovative product portfolio, and strategic focus on driving growth and profitability, Symphony Limited is poised for continued success in the dynamic market landscape.