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About
Symphony Ltd (SYMPHONY)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517385 NSE: SYMPHONY Trading | Small Cap | Symphony Share Price
₹693.40 -6.90 (-0.99%)
As on 22-Jul'26 16:59
Symphony Ltd (SYMPHONY)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517385 NSE: SYMPHONY Trading | Small Cap | Symphony Share Price
₹693.40 -6.90 (-0.99%)
As on 22-Jul'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹4,762 Cr.
Current Price
₹693.4
52-Week Low / High
₹659 / 1,179
TTM EPS
₹-20.5
TTM Sales
₹1,130 Cr.
Book Value per Share
₹79.4
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
39.1
Price to Book (P/B)
8.73
In line with its 5-year historical median
Price to Sales (P/S)
4.21
Lower than its 5-year historical median
EV/EBITDA
26.06
Lower than its 5-year historical median
Dividend Yield
1.3%
Profitability Efficiency
Return on Equity (ROE)
-21.60%
Underperforms industry median
Return on Capital Employed (ROCE)
-5.19%
Underperforms industry median
Return on Assets (ROA)
-11.63%
Operating Profit Margin
11.5%
Net Profit Margin
-12.48%
Gross Profit Margin
14.3%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-28.26%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-59.79%
Net Profit Growth (1 Year)
-
-166.38%
Asset Quality
Promoter Holding
73.43%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹531 Cr.
Equity
₹13.7 Cr.
Face Value
₹2
All Time Low / High
₹0.13 / 2212.75
Check Before You Invest
Quality
Very GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Symphony Ltd a good quality company?
Symphony Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Symphony Ltd performance compare with that of its Peers?
Revenue growth of Symphony Ltd vs industry peers?
Symphony Ltd revenue CAGR is 7.40%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Symphony Ltd?
Promoters hold 73.43% of the Symphony Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Symphony Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -4.6% based on the current price.
DeciZen - make an informed investing decision on Symphony
Decision Maker
Consolidated basis
1. Right Stock
10 Year X-ray Pro
Long Term Prospect
2. Right Price
3. Right Time ⓘ
#Likely Future 5 Year CAGR.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Symphony Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 58.7% | 47.6% | 18.5% | 29.2% | 16.4% | 17.8% | 15.3% | 19.5% | 32.6% | -5.2% | - |
| Value Creation Index ⓘ | 3.4 | 2.5 | 0.4 | 1.2 | 0.2 | 0.3 | 0.1 | 0.5 | 1.4 | -1.4 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 765 | 798 | 844 | 1,103 | 900 | 1,039 | 1,188 | 1,156 | 1,576 | 1,130 | 1,130 |
| Sales YoY Gr. | - | 4.4% | 5.7% | 30.7% | -18.4% | 15.5% | 14.3% | -2.7% | 36.3% | -28.3% | - |
| Adj EPS ⓘ | 23.9 | 25.9 | 15.3 | 24.5 | 15.5 | 15.6 | 15.1 | 20.7 | 34.7 | -3.5 | -20.5 |
| YoY Gr. | - | 8.6% | -41% | 60.1% | -36.6% | 0.6% | -3.3% | 37.6% | 67.4% | -110.1% | - |
| BVPS (₹) ⓘ | 66.5 | 87.4 | 95.2 | 91.4 | 108.5 | 120 | 125.9 | 108.6 | 110.8 | 79.4 | 79.4 |
| Adj Net Profit ⓘ | 167 | 181 | 107 | 171 | 108 | 109 | 105 | 143 | 238 | -24 | -141 |
| Cash Flow from Ops. ⓘ | 94.7 | 107 | 140 | 157 | 88.7 | 56.8 | 125 | 162 | 259 | -81.2 | - |
| Debt/CF from Ops. ⓘ | 0.2 | 0.2 | 1.4 | 1.1 | 2.1 | 3.9 | 1.6 | 0.9 | 0.5 | -1.8 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 4.4% | 4.7% | -1.6% | -28.3% | ||||
| Adj EPS ⓘ | -180.8% | -174.2% | -161.4% | -110.1% | ||||
| BVPSⓘ | 2% | -6.1% | -14.2% | -28.3% | ||||
| Share Price | -5.3% | -8.3% | -7.5% | -38.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 42.6 | 33.6 | 16.7 | 26.2 | 15.5 | 13.7 | 12.3 | 17.5 | 31.6 | -3.7 | -25.9 |
| Op. Profit Mgn % ⓘ | 26.4 | 27.5 | 15.8 | 19.9 | 16.1 | 15.6 | 11.8 | 15.1 | 20.1 | 11.5 | 13.9 |
| Net Profit Mgn % ⓘ | 21.8 | 22.7 | 12.6 | 15.5 | 12.1 | 10.6 | 8.8 | 12.4 | 15.1 | -2.1 | -12.5 |
| Debt to Equity ⓘ | 0 | 0 | 0.3 | 0.3 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.3 | 0 |
| Working Cap Days ⓘ | 103 | 124 | 135 | 108 | 132 | 140 | 144 | 150 | 117 | 176 | 187 |
| Cash Conv. Cycle ⓘ | 20 | 24 | 29 | 20 | 33 | 53 | 58 | 57 | 47 | 79 | 72 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 765 | 798 | 844 | 1,103 | 900 | 1,039 | 1,188 | 1,156 | 1,576 | 1,130 |
| Operating Expenses ⓘ + | 565 | 580 | 711 | 889 | 759 | 877 | 1,048 | 986 | 1,264 | 1,005 |
| Operating Profit ⓘ | 199 | 218 | 133 | 213 | 141 | 162 | 140 | 170 | 312 | 125 |
| Operating Profit Margin (%) | 26.1% | 27.3% | 15.8% | 19.4% | 15.6% | 15.6% | 11.8% | 14.7% | 19.8% | 11.1% |
| Other Income ⓘ + | 43 | 56 | 39 | 55 | 31 | 40 | 50 | 51 | 47 | 61 |
| Interest ⓘ | 1 | 2 | 8 | 13 | 12 | 10 | 12 | 12 | 11 | 18 |
| Depreciation ⓘ | 7 | 7 | 10 | 21 | 21 | 24 | 26 | 26 | 22 | 20 |
| Profit Before Tax ⓘ | 235 | 265 | 130 | 230 | 131 | 168 | 152 | 181 | 280 | -59 |
| Tax ⓘ | 69 | 72 | 39 | 49 | 24 | 47 | 36 | 33 | 67 | 82 |
| Profit After Tax | 166 | 193 | 92 | 182 | 107 | 121 | 116 | 148 | 213 | -141 |
| PAT Margin (%) | 21.7% | 24.1% | 10.9% | 16.5% | 11.9% | 11.6% | 9.8% | 12.8% | 13.5% | -12.5% |
| Adjusted EPS (₹) | 23.8 | 27.5 | 13.2 | 25.9 | 15.4 | 17.2 | 16.6 | 21.5 | 31.0 | -20.6 |
| Dividend Payout Ratio (%) | 18.90% | 16.40% | 34.10% | 88.70% | 32.60% | 52.30% | 30% | 60.50% | 42% | -43.80% |
Valuation of Symphony - Consolidated
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 465 | 612 | 666 | 639 | 759 | 839 | 881 | 749 | 761 | 545 | |
| Debt + | 19 | 26 | 188 | 143 | 184 | 193 | 169 | 120 | 74 | 144 | |
| Minority Interest | 0 | 0 | 3 | 4 | 5 | 5 | 0 | 0 | 0 | 0 | |
| Trade Payables | 55 | 58 | 129 | 115 | 136 | 149 | 166 | 133 | 179 | 129 | |
| Others Liabilities ⓘ | 128 | 124 | 105 | 217 | 159 | 205 | 220 | 225 | 344 | 250 | |
| Total Liabilities ⓘ | 667 | 819 | 1,091 | 1,118 | 1,243 | 1,393 | 1,436 | 1,228 | 1,358 | 1,068 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 79 | 82 | 237 | 318 | 354 | 355 | 351 | 327 | 322 | 201 | |
| CWIP ⓘ | 0 | 0 | 6 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 292 | 422 | 458 | 412 | 484 | 500 | 527 | 373 | 440 | 268 | |
| Inventories | 77 | 80 | 119 | 118 | 118 | 173 | 250 | 231 | 284 | 312 | |
| Trade Receivables | 52 | 62 | 105 | 121 | 166 | 208 | 115 | 168 | 141 | 151 | |
| Cash Equivalents | 47 | 23 | 54 | 25 | 38 | 68 | 57 | 44 | 38 | 52 | |
| Others Assets ⓘ | 120 | 152 | 111 | 121 | 81 | 89 | 137 | 86 | 134 | 84 | |
| Total Assets ⓘ | 667 | 819 | 1,091 | 1,118 | 1,243 | 1,393 | 1,436 | 1,228 | 1,358 | 1,068 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 95 | 107 | 140 | 157 | 89 | 57 | 125 | 162 | 259 | -81 |
| Cash Flow From Investing Activity ⓘ + | -65 | -102 | -250 | 78 | -53 | 6 | -11 | 193 | -41 | 190 |
| Cash Flow From Financing Activity ⓘ + | -5 | -29 | 118 | -241 | -21 | -34 | -124 | -367 | -224 | -95 |
| Net Cash Flow ⓘ | 25 | -25 | 7 | -6 | 14 | 29 | -10 | -12 | -6 | 14 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 42.44 | 35.77 | 14.33 | 27.85 | 15.36 | 15.12 | 13.47 | 18.18 | 28.15 | -21.6 |
| ROCE (%) | 58.69 | 47.61 | 18.5 | 29.17 | 16.35 | 17.75 | 15.3 | 19.54 | 32.59 | -5.19 |
| Asset Turnover Ratio | 1.34 | 1.07 | 0.88 | 1.06 | 0.85 | 0.83 | 0.87 | 0.9 | 1.26 | 0.97 |
| PAT to CFO Conversion(x) | 0.57 | 0.55 | 1.52 | 0.86 | 0.83 | 0.47 | 1.08 | 1.09 | 1.22 | N/A |
| Working Capital Days | ||||||||||
| Receivable Days | 23.70 | 26 | 36 | 35.10 | 52.30 | 62.70 | 47.90 | 42.90 | 34.70 | 45.50 |
| Inventory Days | 31.60 | 35.90 | 43.10 | 36.90 | 43 | 48.90 | 62.70 | 72.80 | 57.80 | 92.90 |
| Payable Days | 52.20 | 53.60 | 75.50 | 76.20 | 91.80 | 91.10 | 86.20 | 90.80 | 71.20 | 95 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Symphony Ltd FAQs
The current trading price of Symphony on 22-Jul-2026 16:59 is ₹693.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Jul-2026 the market cap of Symphony stood at ₹4,761.7 Cr
The latest P/E ratio of Symphony as of 21-Jul-2026 is 0.00.
The latest P/B ratio of Symphony as of 21-Jul-2026 is 9.16.
The 52-week high of Symphony is ₹1,178.9 and the 52-week low is ₹658.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Symphony is ₹765 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Symphony Ltd is a good quality company.
The key valuation ratios of Symphony Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Symphony Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Symphony Ltd
Symphony, an Indian Multi-National Company with presence in many countries is the world’s largest manufacturer of air-coolers. From inventions to innovations, energy responsibility to environment stewardship, Symphony is a market leader which has been cooling customers for generations. The massive supremacy of Symphony coolers in the residential, industrial and commercial segments has made the brand synonymous with ‘cooling’.
Founded in 1988, in Gujarat, India, Symphony Limited established a new category of evaporative air-cooling in India, taking it to the globe. At Symphony, research and development and engineering technology is a sustainable competitive advantage. The company delivers market-leading products with design innovation, improved energy conservation, distinctive styling and customer-centric design. As a pioneer in the air-cooling industry, Symphony develops breakthrough technologies to combat climate change. It is providing solutions for affordable cooling and comfortable environments for maximum efficiency, productivity and wellbeing.
Symphony Limited is a publicly traded company delivering value to its stakeholders in the most profitable and effective way. Symphony Limited has been awarded the Guinness World Record for creating the world’s largest functioning air coolers. The company also provides solutions through its world’s largest air cooling project In Mecca-Madina at Hajj Camp and Ramdev Patanjali Yoga Bhavan, Haridwar, India.
Business area of the company
The company is engaged in manufacturing and trading residential, commercial and industrial air coolers in the domestic and international markets. The Company operates in two sections: manufacture of air-coolers and treasury management. It provides tower, personal, desert, room and window air-coolers for residential use. Its commercial air cooling solutions are installed in open restaurants, party plots and large halls, among others. Its industrial air-coolers are used for factories, offices, schools, malls, assembly halls, warehouses and metro stations, among others. The Company also offers services to banks, auto industry, packaging, distilleries and railways.
Products
- Household Coolers
- Commercial Coolers
- Industrial Coolers
Awards
- 1994: Achal Bakeri, Chairman & Managing Director, is awarded the Young Achiever Award by Worldcom.
- 1995: Achal Bakeri, Chairman & Managing Director, is felicitated by Sir John Major, then the Prime Minister of United Kingdom.
- 2000: Symphony is awarded the Guinness World Record for creating the world's largest functioning air cooler.
- 2012: The Ministry of Science and Technology, Government of India accorded the certificate of recognition to Symphony's in-house R&D centre.
- 2012: Symphony received coveted recognition of Star Export House from Govt. of India.
- 2012: Symphony wins Award for Excellence in Financial Reporting by The Institute of Chartered Accountants of India for its Annual Report of FY 2009-2010.
- 2013: Symphony has won India Design Mark for best design of its Diet 22i air cooler.
- 2014: Symphony has won most prestigious Quality Mark Award for year 2014.
- 2014: Symphony has bagged prestigious 'Best Presented Annual Report Award for Manufacturing Sector' for its annual report of 2012 by South Asian Federation of Accountants (SAFA).
- 2015: India's Most Attractive Brand award under 'Coolers' category by TRA Research
- 2015: Won awards for Best SME – Overall and Best SME – Manufacturing.
- 2015: “Best Innovative Company Award'.
- 2016: Recognized as 'India's Most Trusted Cooler Brand' by The Brand Trust Report
- 2016: Award of appreciation for participation in Acrex India 2016
- 2016: VAT Award by Maharashtra State Government
- 2016: Recognized as 'Gold Partner' by Ventcof
- 2017: Ranked 1 in the Small Enterprises-Manufacturing category at the Financial Express CFO Awards
- 2017: 'Brand Slam Award 2017' by Indira Group of Institutes
- 2017: Award of recognition for participation in 13th Engimach show (held in December 2017)
- 2018: CMD, Achal Bakeri, awarded the 'Eminence Award for Product Innovation & Business Development' by Divya Bhaskar certificate
- 2018: Recognized as 'India's Most Trusted Air Cooler Brand' by The Brand Trust Report
- 2018: CMD, Achal Bakeri, recognized as the 'CEO of the Year' in the Emerging Businesses category at CNBC CEO Awards
- 2019: Recognized as 'India's Most Trusted Air Cooler Brand' by The Brand Trust Report.
- 2020: Recognized as the 'Best Brand' by the Gujarat Brand Leadership Awards 2020.
Milestones
- 1988: Symphony pioneered branded air cooler in India
- 1990: Established a nationwide network; launched a national television campaign
- 1993: Launched Kaizen - AC jaisa cooler
- 1994: Symphony wend public
- 2000: Launched Sumo- the revolutionary desert cooler.
- 2001: Keruilai was established as China’s firs air cooler brand
- 2002: The first evaporative air cooler brand in China to meet the technology evolution requirement of ‘Green Star Products’.
- 2005: Launched the first ever cooler with 4-side cooling – winter
- 2005: Introduced HiCool with humidity control
- 2008: Introduced the power saving technology
- 2009: Acquired IMPCO air coolers
- 2009: Launched world’s first Diet cooler range
- 2010: Introduced Central air cooling solution
- 2010: Implemented India’s largest commercial air cooling project
- 2012: Introduced the intelligent cooler range
- 2012: Introduced storm-the world’s largest tower cooler
- 2012: Received government recognition for R&D center
- 2013: 25 years of Symphony
- 2014: Introduced range of Window Coolers with sun resistance body
- 2015: Market value of the company crossed $1.5 billion.
- 2015: Acquisition of Keruilai.
- 2015: Launched packaged air coolers.
- 2016: Introduced Cloud - world’s first wall mounted air cooler
- 2016: Introduced i-Pure - cooler with multistage air purification
- 2016: Symphony acquires entire stake in Munters Keruilai Air Treatment.
- 2017: Introduced touch range - world’s 1st air coolers with touchscreen and voice assist.
- 2018: Introduced sense series - world’s 1st air coolers with gesture control
- 2018: Introduced diamond series - powerful desert coolers with double blower.
- 2018: Symphony’s acquisition of Australia’s Climate technologies
- 2019: Symphony introduce its commercial range of air coolers and world’s first universal air cooler manufactured in India.
- 2020: Launched range of accessories for industrial and commercial air coolers.
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