On full year basis, the company's consolidated net profit dropped 5% to Rs 116 crore despite 14% jump in revenue from operations to Rs 1,188 crore in FY23 over FY22.

EBITDA margin (including other income) stood at 11.6% in FY23 as against 15.5% in FY22.

The company will complete buyback of its shares at Rs 2,000 per share by the end of May-23, in all amounting to approximately Rs 249 crore (including taxes and incidental expenses). It amounts to 1.43% of paid-up equity. The buyback window opened on 3 May 2023 and will close on 17 May 2023.

Commenting on the outlook, Nrupesh Shah, executive director of Symphony, said, “The company expects strategies in place to build on strong FY23 domestic sales, with better margins, Innovative value-added products; calibrated price hikes; softening of material, labour and freight cost. Curtailment of orders by large retailers in the USA and Australia: Mostly one-time phenomenon, the firm expects transformation at CT Australia In-housing manufacturing to outsourcing model, Revamping product categories, Leveraging distribution channel, Reduction in Cost of Doing Business.”

The board has recommended a final dividend of Rs 1 per equity share for FY23.

Symphony are engaged in the field of residential, commercial and industrial air cooling and other appliances both in the domestic and international markets.