Symphony Set Feb 11 As Record Date For Interim Dividend

The air cooling products manufacturer company Symphony Limited has set Feb 11, 2025, as the record date for its 3rd interim dividend for FY25. On February 05, 2025, Symphony declared an interim dividend of ₹2. The company further stated that the interim dividend be paid on February 28, 2025.

Symphony Record Date: What This Means For Shareholders?

As Symphony has set Feb 11 as the record date for its interim dividend, meaning that Feb 10, marks the last to buy Symphony shares to become eligible for the interim dividend. Further, any shares bought on or after Feb 11 (record date), won’t be eligible for the interim dividend.

Symphony Operational Performance

In Q3FY25, Symphony recorded a 32% increase in revenue for the 9-month period, reflecting solid growth. However, there was a slight dip of 2% in revenue for the quarter, indicating a temporary moderation. This was mainly attributed to a foreign exchange loss of ₹9.4 crore, which represented 3.9% of the revenue. Additionally, the EBITDA and PAT for the quarter saw a temporary calibration, which impacted overall profitability. Despite these challenges, the company remains confident in its recovery and continued performance over the coming periods.

Symphony’s new line of Storage Water Heaters in India has made a promising start in the market. The unique selling points (USPs) and product features have been widely praised, positioning the product as a strong competitor in the sector. The company is focused on expanding its market reach, with sales already taking place through modern retail stores in select states. Additionally, Symphony launched an e-commerce and Direct-to-Consumer (D2C) platform nationwide in January 2025, further enhancing accessibility and customer engagement.

In the December 2024 quarter, Symphony made a provision of ₹46 crore for doubtful debt from M/s Pathways Retail Private Limited. This provision was made in compliance with Ind-AS guidelines and reflects a prudent approach to managing outstanding receivables. The company reassures that this provision will not compromise the recovery efforts, and legal proceedings will continue to be pursued aggressively, as demonstrated by ongoing actions in this regard.

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