Symphony Limited — Board/Management Information 2025

Apr 12, 2025

April 12, 2025

To, National Stock Exchange of India Limited Symbol – Symphony

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To,

BSE Limited

Security Code – 517385

Sub.: Outcome of the Board Meeting: Sale of Technology Know-how and Nine Intellectual Property Rights (IPRs) by GSK to IMPCO Ref.: Our letter dated April 8, 2025

Dear Sir / Madam,

We are pleased to inform you that the Board of Directors of the Company, at its meeting held on April 12, 2025, took the note of the sale of Technology Know-how and some IPRs by Guangdong Symphony Keruilai Air Coolers Co. Ltd., China (GSK) to IMPCO S de R.I.de C.V., Mexico (IMPCO) subject to obtaining all customary and regulatory approvals from the relevant authorities in both countries.

• → The gross value of this transaction is ~ USD 5.1 million (equivalent to ~ ₹ 43.5 crores) .

• → Additionally, the board also took the note of GSK’s intention to utilize the net sales proceeds (net of costs, taxes etc.) to repay its loan to Symphony Limited, India.

• 1. GSK, China distinguishes itself through its dedicated professional elite team of technology research and development experts, operating within state-of-the-art R&D facilities. This commitment to innovation is underscored by a robust portfolio of technologies and 59 Intellectual Property Rights (IPRs), encompassing valuable patents, distinctive trademarks, and innovative designs, positioning the Company at the forefront of technological advancement.
• 1. IMPCO, Mexico will invest and buy technology know-how and IPRs worth of US$ 5.1 million (equivalent to ~ ₹ 43.5 cr.) purely from its internal accruals. This will also be more relevant and beneficiary to monetize IMPCO, Mexico at optimum valuation.
• 1. GSK, China will deploy the entire net proceeds (net of costs, taxes etc.) to repay loan to the Symphony India. This action, coupled with continued strong internal accruals projected in the coming quarters, is expected to make it a completely debt-free company.
• 1. The transaction pertains to monetizing the proprietary technology know-how and nine IPRs specifically developed by GSK, China for the Mexican market over a period of time.
• 1. GSK, China will continue to retain a substantial product portfolio and IPRs as relevant for the current and future business for its core domestic and its key international markets including South-Asian countries. This retained portfolio underpins its commitment to

Registered Office: Symphony Limited, “Symphony House”, Third Floor, FP-12, TP-50, Off S.G. Highway, Bodakdev, Ahmedabad -380 059, India T: +91-79-66211111, F: +91-79-66211139-40 l Email – companysecretary@symphonylimited.com I www.symphonylimited.com CIN - L32201GJ1988PLC010331

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future growth and market expansion within these territories. This will be in line with its robust performance as registered recently.

• 1. GSK’s recent strong financial performance and robust cash flow generation have enabled the repayment of ~ ₹ 13.5 crores through internal accruals to the Company since Jun’24, reducing Symphony India loan outstanding to ~ ₹ 49.6 crores. For Residual Symphony loan (post repayment by GSK from this transaction), there is a continued visibility for full repayments through internal accruals.
• 1. In addition, there is a continued visibility of further repayments through internal accruals in the coming quarters.
• 1. This transaction is also quite tax efficient. It adheres to the arm’s length principles and comply with the transfer pricing guidelines as per the applicable laws and regulations of the respective countries where the companies are incorporated.

The Board meeting commenced at 03.30 PM and concluded at 04:25 PM.

A conference call is scheduled at 04:00 PM (IST) on April 15, 2025, Tuesday. The details of the conference call are attached herewith.

We kindly request you to take the same on record.

Thanking you,

Yours Truly,

For, Symphony Limited MAYUR C. Digitally signed by MAYUR C. BARVADIY BARVADIYA Date: 2025.04.12 A 18:54:17 +05'30' Mayur Barvadiya Company Secretary and Head - Legal

Encl.: as above.

Registered Office: Symphony Limited, “Symphony House”, Third Floor, FP-12, TP-50, Off S.G. Highway, Bodakdev, Ahmedabad -380 059, India T: +91-79-66211111, F: +91-79-66211139-40 l Email – companysecretary@symphonylimited.com I www.symphonylimited.com CIN - L32201GJ1988PLC010331

Conference Call Invitation

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Investec Capital Services (India) Private Ltd cordially invites you to participate in

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Symphony Limited

Conference Call to discuss the outcomes of the board meeting dated 12.4.25

eeting dated 12.4.25
resented by Senior Management•Mr. Achal BakeriChairman & Managing Director•Mr. Nrupesh ShahManaging Director(Corporate Affairs)•Mr. Amit KumarGroup CEO & Executive Director•Mr. Rajesh MishraCEO (International)		Date: Tuesday – April 15, 2025
		CountryTime
		India04:00 PMSingapore & Hong Kong06:30 PMUK11:30 AMDiamond Pass Registrationhttps://tinyurl.com/SymphonyQ4FY25Presentation Linkhttps://tinyurl.com/Symphony-PPT
		Diamond Pass Registrationhttps://tinyurl.com/SymphonyQ4FY25
		Presentation Linkhttps://tinyurl.com/Symphony-PPT

Represented by Senior Management

Call Leader

Aditya Bhartia, Head of Research - Investec India

Conference dial-in: Primary Universal Number : +91 22 6280 1245 / +91 22 7115 8146 International Toll-Free Numbers - USA: 18667462133 UK: 08081011573 Singapore: 8001012045 Hong Kong: 800964448