Symphony (517385) Q1 24/25 earnings summary

Executive summary

• Achieved record consolidated quarterly revenue of ₹531 crore, up 76% YoY, with PAT at ₹88 crore, up 270% YoY, driven by strong domestic demand, intense heatwave, and product portfolio fit.

• Standalone revenue grew 116% YoY to ₹373 crore, with standalone PAT at ₹69 crore, up 375% YoY.

• Overseas subsidiaries, especially IMPCO (Mexico) and GSK (China), delivered robust top-line and bottom-line growth.

• D2C and e-commerce channels reached critical mass, contributing to margin improvement.

• Board approved a new share buyback at ₹2,500 per share for up to 2,85,600 shares and declared an interim dividend of ₹1 per share.

Financial highlights

• Consolidated revenue from operations rose 76% YoY to ₹531 crore; gross margin up 1,150 bps YoY to 51.2%.

• EBITDA surged 298% YoY to ₹112 crore (21% margin); PAT up 270% YoY to ₹88 crore (16.6% margin).

• Standalone EBITDA up 1,041% YoY to ₹82 crore; standalone PAT up 375% YoY to ₹69 crore.

• Subsidiaries' revenue up 22% YoY to ₹158 crore; PAT up 108% YoY to ₹20 crore.

• TTM consolidated revenue at ₹1,385 crore (+19% YoY); PAT at ₹212 crore (+92% YoY); treasury at ₹491 crore.

Outlook and guidance

• Management expects continued growth in line with historical CAGR, supported by below-normal inventory in India, Mexico, and Brazil.

• Focus on innovation, eco-friendly products, and deeper penetration in semi-urban/rural markets and adjacent categories.

• Outsourced manufacturing shifting to India and China, leveraging R&D, sales, and marketing strengths.