Symphony Limited (517385) Q1 26/27 earnings summary

Executive summary

• Consolidated revenue for Q1 FY27 reached ₹378 crore, up 8% year-over-year, with EBITDA at ₹48 crore (up 26%) and PAT at ₹40 crore, impacted by a one-time non-cash expense and prior year exceptional income.

• Adjusted for one-time items, EBITDA was ₹53 crore (vs ₹38 crore) and PAT ₹43 crore (vs ₹35 crore), reflecting a 23% increase year-over-year.

• Net profit for Q1 FY27 stood at ₹55 crore, a significant turnaround from a net loss of ₹218 crore in Q4 FY26.

• Domestic momentum and margin discipline anchored performance, with India, USA, and China offsetting export and subsidiary headwinds.

• Strategic diversification through BISP contributed ₹560 crore (48% of consolidated TTM sales), reducing dependence on the Indian summer season.

Financial highlights

• Gross margin improved to 49.8% despite commodity price pressures and inventory overhang from a weak summer in 2025.

• Standalone revenue was ₹241 crore (vs ₹229 crore), EBITDA ₹30 crore (vs ₹24 crore), and PAT ₹28 crore (vs ₹37 crore, but ₹28 crore vs ₹24 crore after adjusting for one-time items).

• Total income for Q1 FY27 was ₹391 crore, compared to ₹372 crore in Q1 FY26 and ₹351 crore in Q4 FY26.

• EBITDA margin rose to 12.6% (up 1.9 p.p. YoY); basic and diluted EPS for Q1 FY27 was ₹5.77.

• One-off non-cash expense of ₹5 crore in Q1 FY27 and higher other income in Q1 FY26 impacted profitability comparisons.

Outlook and guidance

• Expectation of normalized inventory and growth across all trade channels, including general trade, as inventory overhang has cleared.

• Anticipate margin pressure in the short term due to elevated input costs, with partial price hikes planned but not all cost increases can be passed on.

• Robust summer in the US and Mexico expected to drive sales growth in the coming quarters; muted revenue expected in the US after the summer season.

• Strategic focus on expanding beyond Indian summer products and reinforcing diversification.

• The company rolled back its divestment plans for subsidiaries in Australia and Mexico due to lack of suitable proposals and changing geopolitical conditions.