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Symphony Ltd

NSE: SYMPHONY BSE: 517385

821.15

(3.56%)

Fri, 13 Mar 2026, 03:14 am

Symphony Analysis

dividend

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Pros

  • Dividends per share have increased over the past 10 years.
  • Dividends paid are well covered by earnings (5.2x coverage).
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
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Cons

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Symphony's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.76%).
  • Symphony's dividend is below the markets top 25% of dividend payers in India (3.08%).

future

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Pros

  • Symphony's earnings growth is expected to exceed the low risk savings rate of 7.2%.
  • Symphony is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
  • Performance (ROE) is expected to be above the current IN Consumer Durables industry average.
  • Symphony's revenue growth is expected to exceed the India market average.
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Cons

  • Cash flow for Symphony is expected to increase but not above the 50% threshold in 2 years time.
  • Symphony's earnings are expected to grow by 13% yearly, however this is not considered high growth (20% yearly).
  • Symphony's earnings growth is positive but not above the India market average.
  • Symphony's earnings are expected to decrease over the next year.
  • Symphony's net income is expected to increase but not above the 50% threshold in 2 years time.
  • A decline in Symphony's performance (ROE) is expected over the next 3 years.
  • Symphony's revenue is expected to increase but not above the 50% threshold in 2 years time.
  • Symphony's revenue is expected to grow by 8% yearly, however this is not considered high growth (20% yearly).

health

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Pros

  • Symphony is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Symphony is profitable, therefore cash runway is not a concern.
  • Symphony is profitable, therefore cash runway is not a concern.
  • Debt is well covered by operating cash flow (90.2%, greater than 20% of total debt).
  • Debt is covered by short term assets, assets are 3.6x debt.
  • Symphony's cash and other short term assets cover its long term commitments.
  • Interest payments on debt are well covered by earnings (EBIT is 17.4x coverage).
  • Symphony's level of debt (27.1%) compared to net worth is satisfactory (less than 40%).
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Cons

  • High level of physical assets or inventory.

management

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Pros

  • Achal's remuneration is about average for companies of similar size in India.
  • Achal's compensation has been consistent with company performance over the past year, both up more than 20%.
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Cons

  • The average tenure for the Symphony board of directors is less than 3 years, this suggests a new board.

misc

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Pros

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    Cons

    • Symphony has significant price volatility in the past 3 months.

    past

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    Pros

    • Symphony's 1-year earnings growth exceeds its 5-year average (96.9% vs -0.4%)
    • Symphony used its assets more efficiently than the IN Consumer Durables industry average last year based on Return on Assets.
    • Symphony has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
    • Symphony's earnings growth has exceeded the IN Consumer Durables industry average in the past year (96.9% vs 14.3%).
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    Cons

    • Symphony's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
    • Symphony's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).

    value

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    Pros

    • BSE:517385 is up 8.6% outperforming the Consumer Durables industry which returned 6.7% over the past month.
    • BSE:517385 is up 8.6% along with the India market (8%) over the past month.
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    Cons

    • Symphony's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).
    • Symphony's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).
    • Symphony is overvalued based on assets compared to the IN Consumer Durables industry average.
    • Symphony is poor value based on expected growth next year.
    • Symphony is overvalued based on earnings compared to the IN Consumer Durables industry average.
    • Symphony is overvalued based on earnings compared to the India market.
    • 517385 underperformed the Consumer Durables industry which returned 5.6% over the past year.
    • 517385 underperformed the Market in India which returned -14.5% over the past year.

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