Mumbai, May 18 (IANS) Shares of Symphony Limited fell as much as 8 per cent on Monday, marking their biggest single-day decline since February 2025, after the company reported a consolidated net loss for the fourth quarter (Q4) of FY26 due to large impairment charges linked to its Australian business operations.
The stock was trading 7.47 per cent lower to Rs 725. 5 during noon trade. Shares of the company have declined 11 per cent over the last one month, are down 21 per cent so far in 2026, and have corrected nearly 45 per cent from their recent 52-week high of Rs 1,309.
Symphony reported a consolidated net loss of Rs 218 crore for the March quarter, compared to a net profit of Rs 79 crore in the same period last financial year (Q4 FY25).
The sharp decline in profitability was mainly attributed to exceptional impairment charges related to its Australian subsidiary operations.
According to the company’s exchange filing, revenue from operations declined 30.7 per cent year-on-year to Rs 338 crore during the quarter, compared to Rs 488 crore in the corresponding quarter of the previous financial year.
Operating performance also remained under pressure. EBITDA fell 53.3 per cent to Rs 50 crore from Rs 107 crore a year ago, while EBITDA margin narrowed to 14.8 per cent from 21.9 per cent during the same period.
The company said it recognised exceptional impairment charges during the quarter and the financial year ended March 31, 2026.
Symphony impaired goodwill attributable to Climate Holdings Pty Limited, formerly known as Symphony AU Pty Ltd, by Rs 173.09 crore.
The impairment was recorded due to deterioration in business performance and profitability, along with the failure to achieve expected business synergies despite management efforts, the company said in its filing.
Symphony’s performance during the quarter was impacted by a combination of weather-related challenges, geopolitical uncertainties and operational issues across its international subsidiaries.
However, the management indicated that the subsidiary businesses performed relatively better than the standalone operations.
--IANS
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