Februa ry 5, 2019

To, BSE Limited Security Code - 517385

National Stock Exchange of lndia Limited Symbol - SYMPHONY

5ub.: Outcome of Board Meeting

Dear Sic

We are pleased to inform you that the Board of Directors has considered and approved the following rn their meeting held today:

1 unaudited consolidated and standalone Financial Results along with Limited Review Reports issued by the statutory Auditors for the third quarter / nine months ended on December 31, 2018. copies of unaudited Financial Results, Limited Review Reports and Data sheet showing performance analysis of Unaudited financial results are attached herewith.
Declared 3rd lnterim Dividend of < 1/ (50 %) per equity share having face value of { 2/- each for the financial year 2018-19. 2
1. Reconstitution of Audit Committee as under:

Sr. No	Name of Member	Category	Position held in the Committee
I	Mr Naishadh Parikh	lndependent Director	Chairman
2	Mr. Dipa k Palkar	Independent Director	Member
3	Mr. Ashish Deshpande	lndependent Director	Member
4	Ms. Reena Bhagwati	lndependent Director	Member

Kindly consider this as due Compliance of Regulations 30, 33 and other applicable Regulations of Securities and Exchange Board of lndia (Listing Obligations and Disclosure Requirements) Regulahons, 2015 and any other applicable provisions, if any.

Email: [email protected]

The meeting was commenced at i.l.OO a. m. and con.1u6"6.g i 2: Cf p. m.

Kindly take note of the same and oblige.

Thanking You,

Yours Truly,

For, Symphony Limited

<E}=_gl

Mayur Barvadiya Company Secretary

Encl: (i) Unaudited Financial Results & Limited Review Reports (ii) Datasheet

Email: [email protected]

Deloitte Haskins & Sells

Chartered Aacountants ¹9'" Floor, shapath -v S G Hithway Ahmedabad-380 015 Gujarat,lndia

Tel: +91 79 5682 7300 Fax: +91 79 66A2 7 4OO

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINAilCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIIIITEO

We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of SYHPHONY LIIIIITED for the Quarter and Nine Months Ended 31 December, 2018 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated 5 July, 2016.

This Statement which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

1. we conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. we have not performed an audit and, accordingly, we do not express an aud it opinion.
1. Based on our review conducted as stated above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015, as modified by Circular No. CIR/CFD/FAC/62/20L6 dated 5 luly, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS

Cha rtered Accou nta nts (Firm's Registration No. 1173G5W)

Sr"1_

Gaurav J. Shah Pa rtne r (Membership No.35701)

AHMEDABAD, 5 +( February,2019

WORLD LEADER IN AIR COOLING

SYMPHONY LIMITED

(₹ in Crores)

	Quarter Ended		Sr.		Nine Months Ended		Year Ended
	31-Dec-18 31-Dec-17 30-Sep-18		No.	Particulars	31-Dec-18	31-Dec-17	31-Mar-18
	(Unaudited) (Unaudited)	(Unaudited)			(Unaudited)	(Unaudited)	(Audited)
			1	Income
159	218	148		Revenue from operations a.	386	532	687
10 ¹				b. Other Income	23	31	40
169	226	155		Total Revenue	409	563	727
			2	Expenses
9	3	3		Cost of Materials consumed a.	18	16	31
59 13	96 $\Omega$	58		b. Purchase of stock-in-trade	149	212	289
		12		C. Changes in inventories of finished goods, work-in-progress and stock-in-trade	23	21	$\mathbf{O}$
14	14	15		d. Employee benefits expense	40	39	52
$\mathbf{0}$	(0)			le. Finance costs
				Depreciation and amortisation expense			4
15	17	14		g. Advertisement and sales promotion expense h.	21	24	31
112	132	104		Other expenses Total expenses	41	49	64
57	94	51	3	Profit before exceptional items and tax (1-2)	295	365	472
		4	4	Exceptional Items (Refer note no. 4)	114	198	255
57	94	47	5	Profit before tax (3-4)
14	27	13	6	Tax Expense	110 28	198	255
43	67	34	$\overline{7}$	Net Profit for the period (5-6)	82	56 142	72
			8	Other comprehensive income			183
				Items that will not to be reclassified to profit or loss :
(0)	(0)	(0)		Re-measurement gains/(losses) on defined benefit plans (i)	(0)	(1)
	$\Omega$			(ii) Income tax effect on above
				Items that will be reclassified to profit or loss :
(1)	(1)	(5)		(i) Net fair value gain/(loss) on debt instruments
	$\Omega$			(ii) Income tax effect on above	(6)	(2)	(3)

42	66	30	9	Total comprehensive income (7+8)	77	139	180
14	14	14	10	Paid-up Equity Share Capital (Face Value ₹ 2/- per share)	14	14	14
			11	Reserves excluding Revaluation Reserve			589
6.02			12	Earning Per Share (of ₹ 2/- each) (not annualised)
NOTES:	9.48	4.90		Basic & diluted (₹)	11.68	20.16	26.15

The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 05, 2019
The Statutory auditors of the Company have carried out limited review of the financial results for the quarter / nine months ended on December 31, 2018. 3. The Board of Directors in their meeting held on February 05, 2019 declared 3rd interim dividend of 50% i.e. ₹ 1/- per equity share of ₹ 2/- each amounting to ₹ 8.43 crores including dividend distribution tax. The record date for the payment of interim dividend is February 15, 2019. The interim
The Company holds Non-Convertible Redeemable Cumulative Preference Shares of ₹ 21.01 crores (issue price) of Infrastructure Leasing & Financial Services Ltd (IL&FS Ltd), which are redeemable between March, 2021 to October, 2022. In view of the significant downgrade of the credit ratings of IL&FS Ltd. and other steps being taken by the relevant authorities and regulators in the matter, and as per the facts and circumstances prevailing as on September 30, 2018, the Company provided ₹ 4.10 crores as an impairment loss and also stopped recognition of dividend w.e.f. April 01, 2018. As at December 31, 2018, the Company has re-assessed the position and has decided to continue with the said provision of impairment loss.
From the Quarter ended on June 30, 2018, the Company has changed presentation denomination from "₹ in Lacs" to "₹ in Crores". Accordingly, the figures for the corresponding quarter and nine months ended of the previous year and previous year end have been re-presented in "₹ in Crores". 6. Previous period figures have been rearranged/regrouped wherever necessary to make them comparable with the figures of the current period.

AHMEDABA

7. Segment Results

As per recognition criteria mentioned in Ind AS-108, Operating Segment, the Company has identified only one operating segment i.e. Air Cooling and Other Appliances Business. However substantial portion of Corporate Funds remained invested in various financial instruments. The Company has considered Corporate Funds as a separate segment so as to provide better understanding of performance of Air Cooling and Other Appliances Business.

	Quarter Ended					Nine Months Ended	(₹ in Crores) Year Ended
31-Dec-18	31-Dec-17	30-Sep-18	Sr.	Particulars	31-Dec-18	31-Dec-17	31-Mar-18
(Unaudited)	(Unaudited) (Unaudited)		No.		(Unaudited)	(Unaudited)	(Audited)
				Segment Revenue
159	218	148		a. Air Cooling and Other Appliances	387	532	690
10	8			b. Corporate Funds	22	31	37
169	226	155		Segment Total	409	563	727
				Segment Results (Profit before Interest and Taxes - PBIT)
48	86	44		a. Air Cooling and Other Appliances	93	169	219
9	8	3		b. Corporate Funds	17	30 ¹	37
57	94	47		Segment Total	110	199	256
$\mathbf{0}$	(0)	$\Omega$		Less: Finance Costs			1
14	27	13		Less: Taxes	28	56	72
43	67	34		Total Profit After Tax	82	142	183
				Segment Assets
243	196	259		a. Air Cooling and Other Appliances	243	196	263
529	482	581		b. Corporate Funds	529	482	422
772	678	840		Segment Total	772	678	685
				Segment Liabilities
120	108	221		a. Air Cooling and Other Appliances	120	108	82
				b. Corporate Funds Segment Total
120	108	221		Capital Employed (As at period end)	120	108	82
123	88	38		a. Air Cooling and Other Appliances
529	482	581		b. Corporate Funds	123 529	88 482	181
652	570	619		Segment Total	652	570	422 603

8. Geographical Segment	Quarter Ended						(₹ in Crores)
	31-Dec-18 31-Dec-17 30-Sep-18		Sr.	Particulars	Nine Months Ended		Year Ended
	(Unaudited) (Unaudited)	(Unaudited)	No.		31-Dec-18 (Unaudited)	31-Dec-17 (Unaudited)	31-Mar-18 (Audited)
				Segment Revenue
140	208	142		India a.	347	498	621

			$\tilde{}$
140	208	142	India a.	347	498	621
19	10		Rest of the world b.	39	34	66
159	218	148	Revenue from operations	386	532	687
			2 Segment Results (Profit before Interest and Taxes - PBIT)
51	90	46	India a.	98	189	2331
			Rest of the world b.	12 ₁	10 _i	23
57	94	47	Segment Total	110	199	256
	(0)		Less: Finance Costs
14.	27	13 _l	Less: Taxes	28	56	72
43	67	34 ₁	Total Profit After Tax	82	142	183
NOTE-

Secondary Segment Capital Employed :

Fixed assets used in the Company's business and liabilities contracted have not been identified with any of the reportable segments, as the fixed assets and services are used interchangeably between segments. The Company believes that it is not practical to provide secondary segment disclosures relating to Capital employed.

By Order Of The Board For Symphony Limited AMMEDABA $\mathcal{A}$ cn Achal Bakeri Place: Ahmedabad Chairman & Managing Director Date: February 05, 2019 DIN-00397573 Sympheny World's Largest manufacture of Residential, Commercial and Industrial Air Coolers. Available in more than 60 countries Symphony Limited, Symphony House, FP-12 TP-50, Bodakdev, Off SG Highway, Ahmedabad 380054, India. CIN: L32201GJ1988PLC010331 | Web: www.symphonylimited.com | Email: [email protected] | Phone: +91-79-66211111 | Fax: +91-79-66211139 (Sense DIANOND TOUCH CLOUD STURE! Storm: DIET MOOL winter SUMO JUMBO WINDOW Arctic Circle Master Cool KI COMLAIR EBONAIRE

Deloitte Haskins & Sells

Chartered Aacountants 19' Floor, shapath - v 5 G Highway Ahmedabad - 380 015 Gujarat,lndia

Tel: +91 79 5582 7300 Fax'. +91 79 66a2 7 4OO

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINAT{CIAL RESULTS

TO THE BOARD OF OIRECTORS OF SYMPHONY LIMITED

We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of SYMPHONY LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the Quarter and Nine Months ended 31 December, 2018 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated 5 July, 2016.

This Statement, which is the responsibility of the Parent's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act. 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Parent's personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an aud it opinion.
1. The Statement includes the results of the following entities:
L Symphony Limited - Parent
ii. IMPCO S DE RL DE CV - Subsidiary
iii. Guangdong Symphony Keruilai Air Coolers Company Limited - Subsidiary
iv. Symphony AU Pty Limited - Subsidiary
Climate Technologies Pty Limited Subsidiary
vi. Bonaire USA LLC - Subsidiary
1. Based on our review conducted as stated above and based on the consideration of the review reports of the other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. as modified by Circular No. CIR/CFDIFAC/62/2O16 dated 5 luly, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.
1. We did not review the interim financial information of 5 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total revenues of Rs. 247 Crores for the Nine Months ended 31 December, 2018, and total profit after tax of Rs. 8 Crores and total comprehensive income of Rs. 8 Crores for the Nine Months ended 31 December, 2018,

Deloitte Haskins & Sells

Chartered Accountants 19" Floor, Shapath - v S G Hi8hway Ahmedabad - 380 0'l 5 Gujarat,lndia

Tel:+91 79 5682 7300 Fax: +91 79 6682 74OO

as considered in the consolidated unaudited financial results. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our report on the statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other aud itors.

Our report on the Statement is not modified in respect of these matters.

We draw attention to note 2 0f the statement. since the company has opted to publish consolidated unaudited financial results for the first time from the current period, corresponding figures for the quarter and nine months ended 31 December, 2Ol7 are presented based on accounts prepared by the management and the same have not been reviewed by us.

Our report is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS

Cha rtered Accou nta nts (Firm's Registration No. 117365W)

Gaurav J. Shah Pa rtner (Membership No. 35701)

AH IVIEDABAD,

-+h 5 February,2019

SYMPHONY LIMITED

				Statement of Unaudited Consolidated Financial Results for the Quarter and Nine Months ended December 31, 2018			A In Crores
	Quarter Ended					Nine Months Ended	Year Ended
31-Dec-18	31-Dec-17	30-Sep-18			31-Dec-18	31-Dec-17	31-Mar-18
(Unaudited)	(Unaudited) (Refer Note No.2	(Unaudited)	Sr. No.	Particulars	(Unaudited)	(Unaudited) (Refer Note	(Audited)
			1	Income		No.2
240	219	223		a. Revenue from operations	609	621	798
13	15	9		b. Other Income	28	46	54
253	234	232		Total Revenue	637	667	852
			2	Expenses
81	15	64		a. Cost of Materials consumed	171	64	94
44	86	60		b. Purchase of stock-in-trade	147	214	293
	(2)	(9)		C. Changes in inventories of finished goods, work-in-progress and stock-in-trade	(0)	23	(2)
29	19	29		d. Employee benefits expense	75	55	72
3 $\overline{2}$	$\Omega$			Finance costs e.			2
4	2			f. Depreciation and amortisation expense		5	7
35	21	32		g. Advertisement and sales promotion expense h. Other expenses	27	26	33
202	142	184		Total expenses	86 517	69	88
51	92	48	3	Profit before exceptional items and tax (1-2)	120	457 210	587 265
		4	4	Exceptional Items (Refer note no. 5)
51	92	44	5	Profit before tax (3-4)	116	210	265
14	27	13	6	Tax Expense	28	56	72
37	65	31	$\overline{7}$	Net Profit for the period (5-6)	88	154	193
37 $\Omega$	65	31		Attributable to: Owners of the Company	88	154	193
				Non Controlling Interests
			8	Other comprehensive income
				Items that will not to be reclassified to profit or loss :
(0)	(0)	(0)		(i) Re-measurement gains/(losses) on defined benefit plans	(0)	(1)
$\Omega$	$\Omega$	O		(ii) Income tax effect on above
				Items that will be reclassified to profit or loss :
(1)	(1)	(5)		Net fair value gain/(loss) on debt instruments (i)	(6)	(2)	(3)
$\Omega$	$\Omega$			(ii) Income tax effect on above			$\mathbf{0}$
36	64	27	9	Total comprehensive income (7+8)	83	151	190
36	64	27		Attributable to: Owners of the Company	83	151	190
$\Omega$		$\Omega$		Non Controlling Interests	$\Omega$
14	14	14	10	Paid-up Equity Share Capital (Face Value ₹ 2/- per share)	14	14	14
			11	Reserves excluding Revaluation Reserve			598
5.29	9.32		12	Earning Per Share (of ₹ 2/- each) (not annualised)
NOTES-		4.39		Basic & diluted (₹)	12.60	21.97	27.52

The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 05, 2019.
The Statutory auditors have conducted a limited review of the consolidated financial results of the Group for the quarter and nine months ended December 31 2018. For current financial year, the Group has opted to submit consolidated financial results for each quarter. Accordingly, the corresponding figure for the quarter and nine months ended December 31, 2017 are presented based on accounts prepared by the management and the same have not been reviewed by the statutory auditors
Pursuant to Share Sale Agreement entered on June 22, 2018 the Group acquired effectively 95% equity stake in Climate Technologies Pty Limited, Australia, through a newly incorporated Subsidiary Company viz. Symphony AU Pty Limited, Australia. The acquisition was completed on June 30, 2018 (end of day) subject to other customary closing conditions. Accordingly, w.e.f. July 01, 2018 Climate Technologies Pty Limited, Australia has become subsidiary of the Group and the financial results of the subsidiary company have been consolidated with the Group w.e.f. July 01, 2018. In view thereof, the figures for the current quarter/period are not comparable with figures for the corresponding previous quarter/period and previous year. Since the initial accounting for the acquisition is undergoing as at the end of the reporting period, adhering to the concept of measurement period as per Ind AS 103 - Business Combinations, the Group has prepared the Statement based on the provisional amounts available and shall adjust the provisional amounts when the accounting for the acquisition gets completed.
The Board of Directors in their meeting held on February 05, 2019 declared 3rd interim dividend of 50% i.e. ₹1/- per equity share of ₹2/- each amounting to ₹ 8.43 crores including dividend distribution tax. The record date for the payment of interim dividend is February 15, 2019. The interim dividend will be paid on or before February 28, 2019.
The Group holds Non-Convertible Redeemable Cumulative Preference Shares of ₹ 21.01 crores (issue price) of Infrastructure Leasing & Financial Services Ltd (IL&FS Ltd), which are redeemable between March, 2021 to October, 2022. In view of the significant downgrade of the credit ratings of IL&FS Ltd. and other steps being taken by the relevant authorities and regulators in the matter, and as per the facts and circumstances prevailing as on September 30, 2018, the Group provided ₹ 4.10 crores as an impairment loss and also stopped recognition of dividend w.e.f. April 01, 2018. As at December 31, 2018, the Group has re-assessed the position and has decided to continue with the said provision of impairment loss.
From the Quarter ended on June 30, 2018, the Group has changed presentation denomination from "₹ in Lacs" to "₹ in Crores". Accordingly, the figures for the corresponding quarter and nine months ended of the previous year and previous year end have been re-presented in "₹ in Crores".
Previous period figures have been rearranged/regrouped wherever necessary to make them comparable with the figures of the current period

8. Segment Results

As per recognition criteria mentioned in Ind AS-108, Operating Segment, the Group has identified only one operating segment i.e. Air Cooling and Other Appliances Business. However substantial portion of Corporate Funds remained invested in various financial instruments. The Group has considered Corporate Funds as a separate segment so as to provide better understanding of performance of Air Cooling and Other Appliances Business.

	Quarter Ended					Nine Months Ended	(₹ in Crores) Year Ended
31-Dec-18	31-Dec-17	30-Sep-18			31-Dec-18	31-Dec-17	31-Mar-18
(Unaudited)	(Unaudited) (Refer Note No.2	(Unaudited)	Sr. No.	Particulars	(Unaudited)	(Unaudited) (Refer Note No.2	(Audited)
			$\vert$	Segment Revenue
243	227	225		a. Air Cooling and Other Appliances	615	637	814
10		7		b. Corporate Funds	22	30	38
253	234	232		Segment Total	637	667	852
			$\overline{2}$	Segment Results (Profit before Interest and Taxes - PBIT)
45	85	42		a. Air Cooling and Other Appliances	103	181	229
$\overline{9}$	7	3		b. Corporate Funds	17	30	38
54	92	45		Segment Total	120	211	267
3	$\mathbf 0$			Less: Finance Costs			$\overline{2}$
14	27	13		Less: Taxes	28	56	72
37	65	31		Total Profit After Tax	88	154	193
				3 Segment Assets
539	247	552		a. Air Cooling and Other Appliances	539	247	335
529	482	581		b. Corporate Funds	529	482	422
1,068	729	1,133		Segment Total	1,068	729	757
				4 Segment Liabilities
399	149	484		a. Air Cooling and Other Appliances	399	149	145
				b. Corporate Funds
399	149	484		Segment Total	399	149	145
				5 Capital Employed (As at period end)
140	98	68		a. Air Cooling and Other Appliances	140	98	190
529	482	581		b. Corporate Funds	529	482	422
669	580	649		Segment Total	669	580	612
	9. Geographical Segment						(₹ in Crores)
	Quarter Ended				Nine Months Ended		Year Ended
31-Dec-18	31-Dec-17	30-Sep-18	Sr.		31-Dec-18	31-Dec-17	31-Mar-18
(Unaudited)	(Unaudited) (Refer Note No.2	(Unaudited)	No.	Particulars	(Unaudited)	(Unaudited) (Refer Note No.2	(Audited)
				Segment Revenue
140	208	141		India a.	347	499	622
100	11	82		b. Rest of the world	262	122	176
240	219	223		Revenue from operations	609	621	798
51	90	46		2 Segment Results (Profit before Interest and Taxes - PBIT) India
3	2	(1)		a. Rest of the world b.	98 22	189 22	234
54	92	45		Segment Total	120	211	33 267
3	$\mathbf{0}$			Less: Finance Costs			$\mathbf{2}$
14	27	13		Less: Taxes	28	56	72
37 NOTF-	65	31		Total Profit After Tax	88	154	193

Secondary Segment Capital Employed:

Fixed assets used in the Group's business and liabilities contracted have not been identified with any of the reportable segments, as the fixed assets and services are used interchangeably between segments. The Group believes that it is not practical to provide secondary segment disclosures relating to Capital employed.

By Order Of The Board For Symphony Limited AHMEDABAL Achal Bakeri Place: Ahmedabad Chairman & Managing Director Date: February 05, 2019 DIN-00397573 wingheny World's Largest manufacture of Residential, Commercial and Industrial Air Coolers. Available in more than 60 countries. Symphony Limited, Symphony House, FP-12 TP-50. Bodakdev, Off SG Highway, Ahmedabad 380054, India. CIN: L32201GJ1988PLC010331 | Web: www.symphonylimited.com | Email: [email protected] | Phone: +91-79-66211111 | Fax: +91-79-66211139 (Sense DIAMOND TOUCH CLOUD SILVER / Storm DIET MOOL winter SUMO JUMBO WINDOW Arctic Circle Moster Cool KI COMLAIRE

(A) Standalone Performance Analysis

i) Sales & Profitability						(₹ in Crores)
	Standalone				Standalone Nine Months Ended 31-Dec-18 31-Dec-17 31-Mar-18 (Unaudited) (Unaudited 531 532 23 31 563 282 202
	Quarter Ended		Particulars			Year Ended
	31-Dec-18 31-Dec-17 30-Sep-18
	(Unaudited) (Unaudited) (Unaudited)					(Audited)
159	218		147 Sales	385		685
$-27.2%$		$-19.9%$	Growth % Y-O-Y	$-27.5%$
			1 Other Operating income
159	218		148 Revenue from operations	386		687
$-27.0%$		$-19.8%$	Growth % Y-O-Y	$-27.4%$
10	8		7Other Income			40
169	226		155 Gross Revenue	409		727
$-25.3%$		$-20.4%$	Growth % Y-O-Y	$-27.4%$
78	119		74 Gross Margin (Sales - Material Cost) Value	195		365
58	95		48 EBITDA	113		260
57	94		51 PBT (Before Exceptional Items)	114	198	255
$-39.3%$		$-30.2%$	Growth % Y-O-Y	$-42.5%$
			4 Exceptional Items (Refer note no. 2)
57	94		47 PBT	110	198	255
$-39.3%$		$-35.8%$	Growth % Y-O-Y	$-44.5%$
43	67		34 PAT	82	142	183
$-35.8%$		$-32.4%$	Growth % Y-O-Y	$-42.1%$

ii) Margins
48.9%	54.3%	50.3% Gross margin % of Sales	50.5%	53.1%	53.2%
34.4%	42.0%	30.9% EBITDA % of Gross Revenue	27.6%	35.8%	35.8%
33.7%	41.5%	30.2% PBT Margin % of Gross Revenue	26.8%	35.1%	35.1%
25.4%	29.6%	22.1% PAT Margin % of Gross Revenue	20.1%	25.1%	25.1%

iii) Segment-wise capital employed and ROCE (PBIT)	Standalone				$($ ₹ in Crores)
					Standalone
	Quarter Ended		Particulars		Nine Months Ended	Year Ended
	31-Dec-18 31-Dec-17 30-Sep-18				31-Dec-18 31-Dec-17 31-Mar-18
	(Unaudited) (Unaudited) (Unaudited)				(Unaudited) (Unaudited	(Audited)
			Capital employed (Monthly Average)
75	(17)	56	Air Cooling and Other Appliances	102	(1)	31
551	553	559	Corporate Funds	514	504	490
			ROCE(PBIT) - Not Annualised
63.2%	Infinite	77.8%	Air Cooling and Other Appliances	90.5%	Infinite	699.4%
1.6%	1.4%	0.5%	Corporate Funds	3.4%	6.0%	7.6%

IV) Treasury Investment:
453	482	581 a) Treasury Investment (excluding investments in subsidiaries)	453	482	422
540	484	669 b) Treasury Investment (including investments in subsidiaries)	540	484	424

	v) Geographical Segment-wise Revenue
			Segment Revenue
140	208	142	India	347	498	621
19	10		Rest of the world	39	34	66
159	218	.481	Total	386	532	687

$\tau$

STONY LINE ٠

(B) Consolidated Performance Analysis

i) Sales & Profitability						(₹ in Crores)
	Consolidated				Consolidated
	Quarter Ended		Particulars		Nine Months Ended	Year Ended
	31-Dec-18 31-Dec-17 30-Sep-18				31-Dec-18 31-Dec-17	$31-Mar-18$
	(Unaudited) (Unaudited) (Unaudited)				(Unaudited) (Unaudited	(Audited)
240	219		222 Sales	608	620	796
9.6%		5.2%	Growth % Y-O-Y	$-2.0%$
0	0		1 Other Operating income
240	219		223 Revenue from operations	609	621	798
9.6%		5.3%	Growth % Y-O-Y	$-1.9%$
13	15		9 Other Income	28	46	54
253	234		232 Gross Revenue	637	667	852
111	120		107 Gross Margin(Sales - Material Cost) Value	290	319	411
56	94		48 EBITDA	127	216	274
51	92		48 PBT (Before Exceptional Items)	120	210	265
$-45.3%$		$-33.4%$	Growth % Y-O-Y	$-43.1%$
			Exceptional Items (Refer note no. 2)
51	92		44 PBT	116	210	265
$-45.3%$		$-39.1%$	Growth % Y-O-Y	$-45.1%$
37	65		31 PAT	88	154	193
$-43.9%$		$-37.3%$	Growth % Y-O-Y	$-42.9%$

ii) Margins
46.2%	54.7%	48.1% Gross margin % of Sales	47.7%	51.4%	51.6%
22.3%	40.4%	20.5% EBITDA % of Gross Revenue	19.9%	32.4%	32.1%
20.0%	39.5%	18.9% PBT Margin % of Gross Revenue	18.1%	31.6%	31.1%
14.4%	27.8%	13.5% PAT Margin % of Gross Revenue	13.8%	23.1%	22.6%

			iii) Segment-wise capital employed and ROCE (PBIT)
			Capital employed (Monthly Average)
98	(7)	78I	Air Cooling and Other Appliances	122		39
551	553	559	Corporate Funds	514	504	490
			ROCE(PBIT) - Not Annualised
46.3%	Infinitel	51.8%	Air Cooling and Other Appliances	84.3%	2087.8%	581.3%
1.6%	1.4%	0.5%	Corporate Funds	3.4%	6.0%	7.6%

iv) Treasury Investment
457	485	587 Treasury Investment	457	485	422

	v) Geographicat Segment-wise					(a in Crores)
	Consolidated				Con solidated
	Ouarter Ended			Nine Months Ended	Year Ended
51-Dec-18	5l- Dec-17	30-Sep-18	Particulars	31-Dec-18 31-Dec-17 (Unaudited) (Unaudited		31-Mar-18
(Unaudited)	(Unaudited)	(Unaudited)				(Audited)
			Segment Revenue
140	208	14t	lndia	347	499	622
100	11	82	Rest of the world	262	r22	t76
240	279	223	Total	609	62L	798

(C) SharehotdeR'

			Dividend per share ( (on Face vatue r 2)
1.00	r.00	1.00	lnterim Dividends	3.00	3.00	3.00
			Finat Dividends			1.50
			Dividend (Z)
50%	50%	50%	lnterim Dividend	750%	750%	150%
			Finat Dividends

Note:

Pursuant to Share Sate Agreement entered on June 22, 2018 the Group acquired effectivety 95% equity stake in CLimate Technotogies Pty Limited, Australia, through a newly incorporated Subsidiary Company viz. Symphony AU Ry Limited. Australia. The acquisition was compteted on June 30, 2018 (end of day) subiect to other customary closing conditions. Accordingty, w.e.f. Juty 01, 2018 Ctimate Technologies Pty Limited. Australia has become subsidiary of the Group and the financiat results of the subsidiary company have been consolidated with the Group w.e.f. Juty 01, 2018. ln view thereol the figures for the current quarter/period are not comparabte with figures for the corresponding previous quarter/period and preyious year. Since the initial accounting for the acquisition is undergoing as at the end of the reporting period, adhering to the concept of measurement period as per lnd AS 105 - Business Combinationt the Group has prepared the Statement based on the provisional amounts available and shalt adjust the provisional amounts when the accountinq for the acquisition gets completed.
The Group hotds Non-Convertible Redeemabte Cumulative Preference Shares of ? 21.01 crores (issue price) of lnfrastructure Leasing 6 Financiat Services Ltd (lLbFS Ltd), which are redeemable between March, 2021 to October, 2022. ln view of the significant downgrade of the credit ratings of ILSFS Ltd. and other steps being taken by the relevant authorities and regutators in the matter, and as per the facts and circumstances prevaiting as on September 30, 2018, the Group provided ? 4.10 crores as an impairment loss and atso stopped recognition of dividend w.e.f. April 01, 2018. As at December 31, 2018, the Group has reassessed the position and has decided to continue with the said provision of impairment loss.

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AI assistant

Symphony Limited Interim / Quarterly Report 2019

60717_rns_2019-02-05_f62dd244-1924-4a5e-8bcc-a28e37330850.pdf

To, BSE Limited Security Code - 517385

5ub.: Outcome of Board Meeting

Deloitte Haskins & Sells

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINAilCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIIIITEO

WORLD LEADER IN AIR COOLING

SYMPHONY LIMITED

7. Segment Results

Deloitte Haskins & Sells

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINAT{CIAL RESULTS

TO THE BOARD OF OIRECTORS OF SYMPHONY LIMITED

Deloitte Haskins & Sells

For DELOITTE HASKINS & SELLS

SYMPHONY LIMITED

8. Segment Results

Secondary Segment Capital Employed:

(A) Standalone Performance Analysis

(B) Consolidated Performance Analysis

(C) SharehotdeR'

Note:

AI assistant

Symphony Limited — Interim / Quarterly Report 2019

60717_rns_2019-02-05_f62dd244-1924-4a5e-8bcc-a28e37330850.pdf

To, BSE Limited Security Code - 517385

5ub.: Outcome of Board Meeting

Deloitte Haskins & Sells

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINAilCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIIIITEO

WORLD LEADER IN AIR COOLING

SYMPHONY LIMITED

7. Segment Results

Deloitte Haskins & Sells

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINAT{CIAL RESULTS

TO THE BOARD OF OIRECTORS OF SYMPHONY LIMITED

Deloitte Haskins & Sells

For DELOITTE HASKINS & SELLS

SYMPHONY LIMITED

8. Segment Results

Secondary Segment Capital Employed:

(A) Standalone Performance Analysis

(B) Consolidated Performance Analysis

(C) SharehotdeR'

Note:

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Symphony Limited Interim / Quarterly Report 2019