Sub.: Outcome of Board Meeting

1. Unaudited Consolidated and Standalone Financial Results along with Limited Review Re ports issued by the Statutory Auditors for the second quarter /half year ended on September 30, 2019. Copies of Unaudited Financial Results, Limited Review Reports and Data sheet showing performance analysis of Unaudited financial results are attached herewith.
for the financial year 2019-20. Declared 2nd Interim Dividend of 2/- (100%) per equity share having face value of % 2/- each
Reconstitution of following committees of the Board.

Audit Committee:

				November 12, 2019

To,			National Stock Exchange of India Limited
BSE Limited Security Code - 517385		Symbol - SYMPHONY

Sub.: Outcome of Board Meeting

Dear Sir,
				We are pleased to inform you that the Board of Directors has considered and approved the following in
their meeting held today:
1.				Unaudited Consolidated and Standalone Financial Results along with Limited Review Re ports
				issued by the Statutory Auditors for the second quarter /half year ended on September 30, 2019.
Copies of	Unaudited Financial	Limited Results,	Review Reports	sheet showing and Data
	performance analysis of Unaudited financial results are attached herewith.
	Declared 2nd Interim Dividend of			2/- (100%) per equity share having face value of % 2/- each
	for the financial year 2019-20.

	Reconstitution of following committees of the Board.
	Audit Committee:

Sr. No.	Name of Member		Category	Position heldin the
				Committee
1	Mr. Naishadh Parikh		Independent Director	Chairman
2	Mr. Ashish Deshpande		Independent Director	Member
3	Ms. Reena Bhagwati		Independent Director	Member
4	Mr. Santosh Nema		Independent Director	Member
ii.	Nomination and Remuneration Committee:
Sr. No.	Name of Member		Category	Position heldin the
				Committee
a	Ms. Reena Bhagwati		Independent Director	Chairperson
2	Mr. Ashish Deshpande		Independent Director	Member
3	Mr. Naishadh Parikh		Independent Director	Member
4	Mr. Santosh Nema		Independent Director	Member

ii. Nomination and Remuneration Committee:

Sr. No.	Name of Member	Category	Position heldin the Committee
a	Ms. Reena Bhagwati	Independent Director	Chairperson
2	Mr. Ashish Deshpande	Independent Director	Member
3	Mr. Naishadh Parikh	Independent Director	Member
4	Mr. Santosh Nema	Independent Director	Member

Email: [email protected]

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

The meeting was commenced at 15:30 hours (IST) and concluded at 21:00 hours (IST).

Kindly take note of the same and oblige.

Thanking You,

Yours Truly,

For, Symphony Limited

Sct

Mayur Barvadiya Company Secretary

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

Email: [email protected]

Deloitte 19" Floor, Shapath - V ^aS G Highway Haskins & Sells pred 36001

Chartered Accountants

Tel: +91 79 6682 7300 Fax: +91 79 6682 7400

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIMITED

1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of SYMPHONY LIMITED ("the Company") for the (quarter and six months ended September 30, 2019 ("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 amended.
1. This Statement, which is the responsibility of the Company's Management and approved by the Company's 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 express a conclusion 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 (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Attention is drawn to Note 6 of the Statement which states that the statement of cash flows for the corresponding six months ended September 30, 2018, as reported in the accompanying Statement have been approved by the Company's Board of Directors, but have not been subjected to review.

Based on our review conducted as stated in paragraph 3 above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard 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 amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS Chartered Accountants

(Firm's Registration No. 117365W) —

Gaurav J Shah (Partner) (Membership No. 35701) (UDIN: 19035701AAAAGK2094)

Place: Ahmedabad Date: November 12, 2019

e}; D> 'yD 5 m § Ke ele

ele e}; 'yD m § D> 5 Ke awe a on aW@-« =o (® in Crores O ns p = 6 6) Quarter Ended Sr 30-Sep-19 Half Year Ended Year Ended 30-Jun-19 4), 30-Sep-18 [Particulars : 18 34-Mar- (Unaudited) (Unaudited) Ce (Audited) {Income 1 195 Revenue from operations 148 160) a. a5 227 1 Other Income 22 7 b. 1 13 206) Total Revenue 155) 171 377 240 JExpenses 2 Cost of Materials consumed 2 3 5] a, 7 9 105 Purchase of stock-in-trade 58] 72 b. 177 90 Changes in inventories of finished goods, work-in-progress] (4) 12 3 ¢, (1) 10 and stock-in-trade Employee benefits expense 15 15 13 28 d. 26 Finance costs 0 0 0 e. 0 0 Depreciation and amortisation expense 2 f. ' 1 3 2 Advertisement and sales promotion expense 28 1 g. 29 1 20 Other expenses 15 14 15 h. 30 26 Total expenses 136 104 137 273 183 70 [Profit before exceptional items and tax (1-2) 51 57 34] 3 104 Exceptional Items (Refer note no. 5) 4 4 - - 4 - 70 47 5 Profit before tax (3-4) 34] 53 104 Tax Expense 13} 13 6 8] 21 14 57 34 Net Profit for the period (5-6) 26] 7 83 39 Other comprehensive income 8 jltems that will not to be reclassified to profit or loss : 0 Re-measurement gains/(losses) on defined benefit plans (0) (0) (i) (0) (0) Income tax effect on above 0 0 o} (ii) 0 0 items that will be reclassified to profit or loss : (1) Net fair value gain/(loss) on debt instruments (5) (2) 5) (i) (3) Income tax effect on above 0 0 4 (ii) o 4	a al Total other comprehensive income/(loss), net of tax (1) (3) (4) 56 Total comprehensive income (7+8) 30 24] 9 80 *) 14 Paid-up Equity Share Capital (Face Value & 2/- per share) 10 14 14] 414 14 Reserves excluding Revaluation Reserve 11 Earnings Per Share (of & 2/- each ) 12 8.02 4,90 3.76 Basic & diluted (2) 11.78 5.66	(Unaudited) (Unaudited) (Unaudited)









































14.44		# 0 represents amount less than 2 50 lacs, * EPS is not annualised for the quarter/half year ended September 30, 2019, September 30, 2018 and June 30, 2019.

We A ML ! Q

, rd - if

'6. The standalone statement of cash flow for the half year ended September 30, 2018 as reported in these financial results have been approved by the Company's Board of Directors, but have not been subjected to review/audit by the auditors.

7. Adoption of Ind AS 116- Leases

8. Segment Results

As per recognition criteria mentioned in Ind AS-108, Operating Segment, the Company has identified only one operating segment |.e. Air Cooling and Other Appliances Business. However substantial portlon of Corporate Funds remained invested in various financial instruments. The Company has considered Corporate Funds as 4 Separate segment so as to provide better understanding of performance of Air Cooling and Other Appliances Business.

				'6. The standalone statement of cash flow for the half year ended September 30, 2018 as reported in these financial results have been approved by the Company's
	7. Adoption of Ind AS 116- Leases			Board of Directors, but have not been subjected to review/audit by the auditors.
				fon April 01, 2019, the Company has adopted Ind AS 116, Leases, using modified retrospective method. Accordingly, the comparatives have not been retrospectively
8. Segment Results				adjusted. The effect of this adoption is insignificant on the profit for the period and earning per share.
				As per recognition criteria mentioned in Ind AS-108, Operating Segment, the Company has identified only one operating segment .e. Air Cooling and Other Appliances Business. However substantial portlon of Corporate Funds remained invested in various financial instruments. The Company has considered Corporate Funds as 4
				Separate segment so as to provide better understanding of performance of Air Cooling and Other Appliances Business.
	Quarter Ended				Half Year Ended		(@ in Crores)
30-Sep-19 (Unaudited)	30-Sep-18 (Unaudited) (Unaudited)	30-Jun-19	va	Particulars
			i		30-Sep-19 (Unaudited) (Unaudited)	30-Sep-18	Year Ended 31-Mar-19
				1]Segment Revenue			(Audited)
195 14	148 i	161 10]		a. Air Cooling and Other Appliances b. Corporate Funds	3] 21	228 12
206	155	171		Segment Total 2{Segment Results (Profit before Interest and Taxes - PBIT)	377	za)
60 40	44 3	24 10}		a. Air Cooling and Other Appliances b. Corporate Funds	64 20]	45 8
70 o}	47 0	34) 0		Segment Total Less: Finance Costs	104)	53
13	13	8		Less: Taxes	0 21	' 44
57	34	*		Total Profit After Tax 3]Segment Assets	83)	39
248 757)	259 581	249 526]		a. Air Cooling and Other Appliances b. Corporate Funds	248 757	259 581
1,005	840	776		Segment Total 4} Segment Liabilities	1,005	840
277 :	221	82 -		a. Air Cooling and Other Appliances b. Corporate Funds	277 4	221 i
277	221	82		Segment Total	277	221
(29)	38	167		5] Capital Employed (As at period end) a. Air Cooling and Other Appliances	(29)	38
757 728	581 619	526 693		b. Corporate Funds Segment Total	757 728	581 619
	Quarter Ended				Half Year Ended		(€ in Crores) Year Ended
	30-Sep-18 (Unaudited) (Unaudited)	30-Jun-19	i	a Particulars	30-Sep-19 (Unaudited) (Unaudited)	30-Sep-18	31-Mar-19 (Audited)
189}	142	aed		1 ]Segment Revenue a. India
6 195	6 148	12 160		b. Rest of the world Revenue from operations	337 18	207 20
ea]	46	30)		2]Segment Results (Profit before Interest and Taxes - PBIT) a. India	355	227
4 70	1 47	4 34		b. Rest of the world Segment Total	99 5	47 6
9. Geographical Segment 30-Sep-19 (Unaudited) 9 13 57	0 '3 34	0 8 26		Less: Finance Costs Less: Taxes Total Profit After Tax	104 0 21 83	53 0 14 39

Sr. No.	10. Standalone Statement of Assets & Liabilities Particulars	As At 30-09-19 (Unaudited)	(@ in Crores) As At 31-03-19 (Audited)
A 1	ASSETS Non- current assets (a) Property, plant and equipment (b) Capital work - in - Progress (c) Other Intangible Assets (d) Financial Assets	67 1 3	63 4 4
	(i) Investments a) Investments in subsidiaries b) Other investments (ii) Other financial assets d) Other non-current assets Total - Non-current assets	99 132) 1 i 304	88 186 1 1 344
2	Current assets (a) Inventories (b) Financial assets (i) Other investments (ii) Trade receivables (ii) Cash and Bank Balances	44 594 3 3	38 271 42 13
	(iv) Bank balances other than (iii) above (v) Other financial assets (c) Other Current Assets Assets classified as held for sale Total - Current assets	34 2 24 701 :	27 2 30 423 2
B	Total Assets EQUITY AND LIABILITIES	701	425)
1	Equity (a) Equity Share Capital b) Other Equity Total - Equity	1,008] 14 714 _728	769 14 655 669
2 3	Non-Current Liabilities (a) Deferred Tax Liabilities (Net) Total - Non-current liabilities Current Liabilities (a) Financial liabilities (i) Trade payables	5 §	6 6
	~ Due to Micro and Small Enterprises - Due to Others (ii) Other Financial Liabilities (b) Other Current Liabilities (c) Provisions (a) Current tax liabilities (Net) Total - Current liabilities	0 47 6 213 § 1	3} 41 8 34 5 3
	Total - Liabilities Total Equity and Liabilities 11. Standalone cash flow information	272 277 1,005)	94 100} 769}
Particulars		For the Half Year Ended 30-Sep-19 (Unaudited) (Unaudited)	(® in Crores) 30-Sep-18 (Refer Note
Profit for the period	Cash flow from operating activities Operating Profit Before Working Capital Changes A. Net Cash generated by Operating Activities B. Net Cash used in Investing Activities C. Net Cash used in Financing Activities	82 85 a 282 (270)	No.6) 40 47 253 (242) (21)
	Net Increase in Cash & Cash Equivalents (A+B+C) Cash & Cash Equivalents At the beginning of the period At the end of the period	(10) 13 3 By Order Of The Board For Symphony Limited	(10)} 15 5]

Deloitte 19" Floor, Shapath - V Haskins & Sells oe ea 380 ⁰¹⁵

Chartered Accountants S G Highway

Tel: +91 79 6682 7300 Fax: +91 79 6682 7400

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIMITED

1. 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 six months ended September 30, 2019 ("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 amended.
1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's 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 express a conclusion on the Statement based on our review.
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 (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Attention is drawn to Note 7 to the Statement which states the statement of consolidated cash flows for the corresponding six months ended September 30, 2018, as reported in the accompanying Statement have been approved by the Parent's Board of Directors, but have not been subjected to review.

1. The Statement includes the results of the following entities:
i. Symphony Limited(Parent)
ii. Symphony AU Pty Limited(Subsidiary)
iii. Symphony Climatizadores Ltda, Brazil (Subsidiary)
iv. Guangdong Symphony Keruilai Air Coolers Co. Limited(Subsidiary)
V. IMPCO S. de. R.L. De. C.V., Mexico(Subsidiary)
vi. Climate Technologies Pty. Ltd., Australia (Subsidiary)
vii. Bonaire USA LLC, USA (Subsidiary)

Deloitte Haskins & Sells

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard 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 amended, 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 assets of Rs. 392.63 Crores as at September 30, 2019, total revenues of Rs. 79.57 Crores and Rs. 215.34 Crores for the quarter and six months ended September 30, 2019 respectively, total net profit/(loss) after tax of Rs. (0.02) Crores and Rs. 4.46 Crores for the quarter and six months ended September 30, 2019 respectively and _ total comprehensive income of Rs. 0.02 Crores and Rs. 4.53 Crores for the quarter and six months ended September 30, 2019 respectively and net cash flows of Rs. 16.32 Crores for the six months ended September 30, 2019, as considered in the Statement. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion 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 auditors and the procedures performed by us as stated in paragraph 3 above.

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

The consolidated unaudited financial results includes the interim financial information of one subsidiary which has not been reviewed/audited by their auditors, whose interim financial information reflect total assets of Rs. 0.10 Crores as at September 30, 2019, total revenue of Nil and Nil for the quarter and six months ended September 30, 2019 respectively, total profit/(loss) after tax of Rs. (0.03) Crores and Rs (0.03) Crores for the quarter and six months ended September 30, 2019 respectively and Total comprehensive income / loss of Rs. (0.03 Crore) and Rs (0.03) Crores for the quarter and six months ended September 30, 2019 respectively and net cash flows (net) of Rs. 0.08 Crore for the six months ended September 30, 2019, as considered in the Statement. According to the information and explanations given to us by the Management, this interim financial information are not material to the Group.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

For DELOITTE HASKINS & SELLS Chartered Accountants , (Firm's Registratign No. 117365W) - = Gaurav J Shah (Partner) (Membership No. 35701) (UDIN: 19035701AAAAGL2804)

Place: Ahmedabad Date: November 12, 2019

SYMPHONY LIMITED

				SYMPHONY LIMITED
	Statement			of Unaudited Consolidated Financial Results for the Quarter and Half Year ended September 30, 2019			Crores < in
	Quarter Ended (Unaudited) (Unaudited) (Unaudited)		sr		Half Year Ended
			No.		(Unaudited) (Unaudited)		Year Ended (Audited)
272)	9	292) 12	1	[Income Revenue from operations Other Income	re 23]	369 15	844 39
11 283] 37	232) 64]	304 60	2	Total Revenue JExpenses Cost of Materials consumed	587) 97	384 90	883 248
410) (4)	60 (9)	80, 19		Purchase of stock-in-trade Changes in inventories of finished goods, Worle: progreAe) and stock-in-trade	180 15	103] (4)	221 (16)
30 3] 6	29 1 3	27 3 6		Employee benefits expense Finance costs Depreciation and amortisation expense	57 6 12	46) 1 5 23	103] 7 10 33
2 34 218]	4 32 184	31 7 263		Advertisement and sales promotion expense Other expenses lh. Total expenses	33) 71 431 106	51 316 69	123 729 154
65 66]	48 4 44	41} - 41]	4 5 6	3 Profit before exceptional items and tax (1-2) [xceptional Items (Refer note no. 6) Profit before tax (3-4) Tax Expense	106	4 65	24 130
14 * 14]	14 - 14	8 - 8		'a. Current Tax Excess Provision of tax relating to previous years b. Net Current Tax ic.	22 22	16) - 16)	40 (a) 40
(7) 7 58	(1) 13 31	(0) 8] 33]	6 7	Deferred Tax d. jTax Epense [Net Profit for the perlod (5-6)	(7) 15 91	(2) 14 51	(1) 39 91
58) 0	31 0	33 (0)	8	Attributable to: Owners of the Company Non Controlling interests Other comprehensive income	1 0	51 0	92 (1)
{0)} 0	(0) 0	(0) i)		items that will not to be reclassified to profit or loss : Re-measurement gains/(losses) on defined benefit plans (i) Income tax effect on above (ii)	(O)} 0	(O)} 0	(0) 0
(1) oO	(5) 1	(2) 0		items that will be reclassified to profit or loss : Net fair value gain/(loss) on debt instruments (i) Income tax effect on above (ii)	(3) 0	(5) 4	0 (0)
(1)} 57	(4)] 27	(2)} 31]	9	Total other comprehensive income/(loss), net of tax Total comprehensive income (7+8)	{3) 88	(4) 47	0 91
§7 9 14]	27 ) 14)	31 (0) 14]	10 11	Altributable to: Owners of the Company Non Controlling Interests [Paid-up Equity Share Capital (Face Value % 2/- per share) [Reserves excluding Revaluation Reserve	8B 0 14	47 0 14)	92 (Ay 14 652)

* EPS is not annualised for the quarter/half year ended September 30, 2019, September 30, 2018 and June 30, 2019.

NOTES:

4, The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 12, 2019,

2, The Statutory auditors of the Group have carried out limited review of the financial results for the quarter and half year ended September 30, 2019.

3, The Board of Directors in their meeting held on November 12, 2019 declared 2nd interim dividend of 100% i.e. % 2/- per equity share of & 2/- each amounting to & 16.87 crores including dividend distribution tax. The record date for the payment of interim dividend is November 22, 2019.

4, Symphony AU Pty Ltd, Australia, a subsidiary of the Group, acquired 100% equity capital of Climate Technologies Pty Ltd, Australia effective from July 01, 2018 and in laccordance with the requirements of Ind AS 103-"Business Combination', the Group consolidated the financial figures on provisional basis effective from the quarter ended on September 30, 2018 and for the period thereafter. The determination of the purchase price consideration of = 203.26 crores (A\$ 41.408 Million) of the acquired company have been validated by an independent agency. Accordingly, the Company has accounted for the said acquisition in its books at fair values as on the date of| acquisition, In pursuant to the above, the figures for the half year ended September 30, 2019 include the figures of the business of Symphony AU Pty. Ltd., Australia and hence, the figures of half year ended on September 30, 2019 are not comparable with the figures of corresponding half year ended on September 30, 2018.

The financial results of newly incorporated on June 10, 2019 as wholly owned subsidiary company, "Symphony Climatizadores Lida', Brazil is consolidated with the Group for the first time during this quarter.
(a) The Group's investments of 2 21.50 crores in Non-Convertible Redeemable Cumulative Preference Shares of Infrastructure Leasing & Financia) Services Limited (IL&FS) are redeemable between March, 2021 to October, 2022. During the previous financial year 2018-19, considering the prevailing uncertainty as regards recovery of |(hese investments, the Group has provided for the loss allowance of entire investment amount of % 21.50 crores.

(b) As reported in Annual Report of F Y 2016-17, some serious irregularities were observed in certain ransactions executed by erstwhile Registrar & Transfer Agent Mis. Sharepro Services India Limited (Sharepro). The Group has filed FIR against Sharepro, their employees and others in this matter which is pending before Hon'ble} Metropolitan Magistrate Court, Ahmedabad.

The Group has provided % 2.55 crores during the previous financial year 2018-19 towards compensation payable for the matter of two cases of the alleged fraudulent transfers and the same has been paid during the quarter ended September 30, 2019.

The consolidated statement of cash flow for the half year ended September 30, 2018 as reported in these financial results have been approved by the Board of | Directors, but have not been subjected to review/audit by the auditors.

8. Adoption of Ind AS 116- Leases

On Aptil 01, 2019, the Group has adopted Ind AS 116, Leases, using modified retrospective method, Accordingly, the comparatives have not been retrospectively adjusted. The effect of this adoption is insignificant on the profit for the period and earning per share.

|9. Segment Results

9. 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
30-Sep-19	30-Sep-18 (Unaudited) (Unaudited) (Unaudited)	30-Jun-19			Half Year Ended		(fin Crores)} Year Ended
			rm Ce	Particulars	(Unaudited) (Unaudited)	30-Sep-19 30-Sep-18 31-Mar-19	(Audited)
272	225	294		1}]Segment Revenue a. Air Cooling and Other Appliances	566]	372	853)
11 283)	7 232	10 304		b. Corporate Funds Segment Total	21 687	12 384]	30) 883]
58 10	42 3	34 10)		2}Segment Results (Profit before Interest and Taxes - PBIT) a, Air Cooling and Other Appliances b. Corporate Funds	92 20	58 8	129 8
68] 3	46 1	44 3		Segment Total Less: Finance Costs	112 6	66) 1	137 7
7 68)	13) 31	8 33)		Less: Taxes Total Profit After Tax 3] Segment Assets	15 91	14 51	39 91
551 757	582) 581	590 526		a, Air Cooling and Other Appliances b. Corporate Funds	551 757	552] 581	590) 481
1,308]	1,133	1,116]		Segment Total 4 Segment Liabilities	1,308	1,133	1,071
571 571	484) - " Aga)	415 - 415}		a. Air Cooling and Other Appliances b. Corporate Funds Segment Total	\$71 - 871	484 " 484]	401 - 401
100}	201	297,		5 Capital Employed (As at period end)* a, Air Cooling and Other Appliances	100	201	312
75? 857	581 782	525 822]		b. Corporate Funds Segment Total "Including non-current borrowings w.e-f. this quarter, previous periods are restated.	757, 887	581 782}	481 793)
	[10. Geographical Segment						(€ in Crores)}
	Quarter Ended 30-Sep-19 30-Sep-18 (Unaudited) (Unaudited) (Unaudited)	30-Jun-19		ik Frsticaiars	Half Year Ended (Unaudited) (Unaudited)	30-Sep-19 30-Sep-18 31-Mar-19	Year Ended (Audited)
189)	144	148)		1] Segment Revenue India a.	337	207	467
63) 272	82 223	144] 292		Rest of the world b. Revenue from operations 2] Segment Results (Profit before Interest and Taxes - PBIT)	227 864!	162 369	377 3844
69 (1) 68]	46 (1) 45	30 14 44		India a. Rest of the world b. Segment Total Less: Finance Costs	99 13) 112]	47 19 66	121 16 137

NOTE:

Secondary Segment Capltal 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 jinterchangeably between segments. The Group believes that it is not practical to provide secondary segment disclosures relating to Capital employed.

Sr.No.	11. Consolidated Statement of Assets & Liabilities Particulars	As At 30-09-19	{Zin Crores) As At 31-03-19
A 1	ASSETS Non- current assets (a) Property, plant and equipment (b) Capital work - in - Progress (c) Goodwill	129 10) 143)	(Unaudited) _ (Audited) _ 90 6 143
	(d) Other Intangible Assets (e) Financial Assets () Investments a) Other investments (ii) Other financial assets (f) Deferred Tax Assets (Net)	47 132 1 -	5 186 1 19
2	1(g) Other non-current assets Total - Non-current assets Current assets (a) Inventories (b) Financial assets	4} 466] 98	i 457 119
	(i) Other investments (it) Trade receivables (iii) Cash and Bank Balances (iv) Bank balances other than (iii) above (v) Other financial assets (c) Other Current Assets	607 57 10 34) 1 36)	272) 105 26 28 2 60
B	Assets classified as held for sale Total - Current assets Total Assets : EQUITY AND LIABILITIES	842 8424 1,308	612) 2 614 1071
1	Equity (a) Equity Share Capital (b) Other Equity Equlty attributable to owners of the Company Non-controlling interests Total - Equity	'al 719 733] 4 737	14 652 666 670}
2	Non-Current Liabilities (a) Financial liabilities Borrowings (i) (ii), Other Financial Liabilities }(b) Provisions	120 32 6	423 - 7
3	(c) Deferred Tax Liabilities (Net) Total - Non-current liabilities Current Liabilities (a) Financial liabilities Borrowings (i) (ii) Trade payables	6 166] 52	6 136} 64
	- Due to Micro and Small Enterprises - Due to Others (iii) Other Financial Liabilities (b) Other Current Liabilities (c) Provisions (d) Current tax liabilities (Net)	0 96 17 225) a 1	3 127 8 47 13
	Total - Current llabltities Total - Liabilitles Total Equity and Liabilities 12. Consolidated cash flow Information	408} 671] 1,308)	265} 401 4,071
Particulars		[For the Half Year Ended _	{% in Crores) 30-Sep-19 30-Sep-18 (Unaudited) (Unaudited) (Refer Note
	Cash flow from operating activities Profit for the period A. Net Cash generated by Operating Activities cE Net Cash used in Investing Activities C. Net Cash used in Financing Activities	9 S22) (291) (47)	No.7) 51 202 (323) 124
	Net Increase In Cash & Cash Equivalents (A+B+C) Cash & Cash Equivalents At the beginning of the period
	At the end of the period
	Place : Ahmedabad Date: November 12, 2019	Achat Baker! DIN-00397573	aa Chairman & Managing Director

(A) Standalone Performance



30-Jun-19]	Particulars
(Unaudited)
	Sales

	Other Operating income
160]	Revenue from
102%,
	Income
	Gross Revenue
102%	SSS
	Gross Margin(Sales - Material Cost)Value
35.47)	EBITDA
34.41/PBT
500%
26.41]	PAT
455%


	Clee
	n sales Gross	48%	52%	50%

			Income
			Gross Revenue SSS
		102%
			Gross Margin(Sales - Material Cost)Value
		35.47)	EBITDA
		34.41/PBT
		500%
		26.41]	PAT
		455%


			Clee
			n sales Gross	48%	52%	50%
34%	31%		21%] EBITDA % of Gross Revenue	28%	23%	26%
34%)	30%		20%} PBT Margin % of Gross Revenue	28%	22%	25%
27%	22%		15% PAT Margin % of Gross Revenue	22%	16%	18%


(58)	56	161	Air Cooling and Other Appliances	52	115)	114
760	559	522	Corporate Funds	641	495	512)

Infinite	78%	15%	Air Cooling and Other Appliances	162%!	39%	116%)
1%	1%	2%	Corporate Funds	3%	2%	2%!
21%	26%		19% Return on Networth	21%	26%)	16%
			(PAT TTM / AVG Networth)
			Debtors and Inventory ratios
2	oO		10] Debtor Days (Debtors/TTM Sales)	2	Q	30
23,	25		21} Inventory Days (Inventory/TTM Sales)	23	25)	26)

						(t in Crores)
	Standalone				Standatone
30-Sep-19	Quarter Ended 30-Sep-18	[30-Jun-19]	: Particulars	30-Sep-19	Half year Ended 30-Sep-18	Year Ended 31-Mar-19
	(Unaudited) (Unaudited) (Unaudited)				(Unaudited) (Unaudited)	(Audited)
757}	581		526]a) Treasury Investment (excluding investments in subsidiaries)	757	581]	481)
856	669)		613] b) Treasury Investment (including investments in	856	669)	569)
			subsidiaries)


189	142	148]	india	337	207	467
6 195	6 148}	12 160	Rest of the world Total	18 355	20 227)	57 524!


Standalone					Standatone
Quarter Ended					Half year Ended
30-Sep-19	30-Sep-19 (Unaudited) (Unaudited) Particulars	5			30-Sep-19 (Unaudited)	30-Sep-19 (Unaudited)
{As per	(As per Old				{As per Revised}	(As per Old
Revised rate)	rate)				rate)	rate)

			subsidiaries)		207 20 227)


189	142	148]	india	337		467
6	6	12	Rest of the world	18		57
195	148}	160	Total	355		524!
Standalone					Standatone
Quarter Ended					Half year Ended

30-Sep-19	30-Sep-19	5			30-Sep-19	30-Sep-19

	Standalone				Standatone	(t in Crores)
	Quarter Ended				Half year Ended	Year Ended
30-Sep-19	30-Sep-18	[30-Jun-19]	: Particulars	30-Sep-19	30-Sep-18	31-Mar-19
	(Unaudited) (Unaudited) (Unaudited)				(Unaudited) (Unaudited)	(Audited)
757}	581		526]a) Treasury Investment (excluding investments in subsidiaries)	757	581]	481)
856	669)		613] b) Treasury Investment (including investments in subsidiaries)	856	669)	569)



189 6	142 6	148] 12	india Rest of the world	337 18	207 20	467 57
195	148}	160	Total	355	227)	524!


Standalone					Standatone
	Quarter Ended				Half year Ended
		5			30-Sep-19	30-Sep-19
30-Sep-19	30-Sep-19				(Unaudited)	(Unaudited)
	(Unaudited) (Unaudited) Particulars
{As per	(As per Old				{As per Revised}	(As per Old
Revised rate)	rate)				rate)	rate)

69.64) 13.11	69.64] PBT	20.58} Income tax			104.15 2141)	104.15 28.58
125)			-]Add : Reversal of excess tax of June quarter		ss
2.21			- Add : Reversal of Deferred Tax Liability upto March 31, 2019		2.21
16.57			20.58}Tax as per revised rate without considering reversal		23.62	s = 28.58

rate of income tax for business income is reduced from 30% to 25.17% w.e.f April 01, 2019

(B) Consolidated Performance Analysis

	(B) Consolidated Performance Analysis
						(® in Crores)
	Consolid: Quarter Ended		Particulars	Half year Ended	Consolidated	Year Ended
30-Sep-19	30-Sep-18	30-Jun-19	cu	30-Sep-19 (Unaudited) (Unaudited)	30-Sep-18	31-Mar-19 (Audited)
				\$63)	368	842
0}	1		Y-O-¥ Hi % owth 1) Other Operating income	53% 1	y	2
272) 22%	223)	100%]	292}Revenue from operations Growth %Y-O-Y	564 53%	369	844)
u	9		12} Other Income	23	15	39
283 22%	232			587] 53%	384)	883
129	107}			261]	179)	389)

74.18	4759		49_57 EBITDA	123.34)	70.51)	146.83
65.02 49%	43.72	40.94 94x}		105.96} 64%	64.70	130.06;
57.56)	31.09)	33.41] PAT	___	90.57	5119	9145)

			ii) Financial ratios

						(® in Crores)
	Consolid:		Particulars		Consolidated
	Quarter Ended			Half year Ended 30-Sep-19	30-Sep-18	Year Ended
30-Sep-19	30-Sep-18	30-Jun-19	cu	(Unaudited) (Unaudited)		31-Mar-19
						(Audited)
				\$63)	368	842
			Y-O-¥ Hi % owth 1) Other Operating income	53%
0} 272)	1 223)		292}Revenue from operations	1 564	y 369	2 844)
22%		100%]	Growth %Y-O-Y	53%
u	9		12} Other Income	23	15	39
283	232			587]	384)	883
22%				53%
129	107}			261]	179)	389)
74.18	4759		49_57 EBITDA	123.34)	70.51)	146.83
65.02	43.72	40.94		105.96}	64.70	130.06;
49%		94x}		64%

57.56)	31.09)	33.41] PAT		90.57	5119	9145)
85%		66%}	___ Grow	77%
47%	48%		CSS 45% Gross margin %	46%	49%	46%
26%	21%		16%] EBITDA % of Revenue Gross	21%	18%	17%
23%	19%		13% PBT Margin % of Gross Revenue	18%	17%	15%
20%	13%		11%] PAT Margin % of Gross Revenue	15%	13%	10%
			and ROCE ital s P 4

65)	188)	288)	Air Cooling and Other Appliances	176}	189	226)
760}	559}	522	Corporate Funds	641	495	512)

95%	22%	12%	Air Cooling and Other Appliances	54%	30%	57%)
1%	1%	2%)	Corporate Funds	3%	2%	2%
19%	26%		16% Return on Networth (PAT TTM / AVG Networth)	19%	26%	14%
			Debtors and Inventory ratios
20)	29		39} Debtor Days (Debtors/TTM Sales)	20	29	45
34	51]		36} Inventory Days (inventory/TTM Sales)	34)	51	52)


769	587		526] Treasury Investment	769}	587	482)

769 587	526] Treasury Investment	769}	587	482)

	iv) Geographical Segment-wise Revenue Consolidated					Consolidated
30-Sep-19 (Unaudited)	Quarter Ended 30-Sep-18 (Unaudited)	$30 - Jun - 19$ (Unaudited)	Particulars		30-Sep-19 (Unaudited)	Half year Ended 30-Sep-18 (Unaudited)	Year Ended $31-Mar-19$ (Audited)
189	141	148	Segment Revenue India		337	207	467
83 272	82 223	144 292	Rest of the world Total		227 564	162 369	377 844
(C) Shareholders' Payout			Dividend per share ₹ (on Face value ₹ 2)
2.00	1.00	1.00	Interim Dividends Final Dividends		3.00	2.00	3.00 1.50
100%	50%	50%	Dividend (%) Interim Dividends Final Dividends		150%	100%	150% 75%

			MAD CO.	AHMEDARAD

{C) Shareholders' Payout

			Segment Revenue
189	141	148	India	337	207	467
83	82	144	Rest of the world	227	162	377
272	223	292	Total	564	369	844
(C) Shareholders' Payout
			Dividend per share ₹ (on Face value ₹ 2)
2.00	1.00	1.00	Interim Dividends	3.00	2.00	3.00
			Final Dividends			1.50
			Dividend (%)
100%	50%	50%	Interim Dividends	150%	100%	150%
			Final Dividends			75%

AI assistant

Symphony Limited Interim / Quarterly Report 2019

60717_rns_2019-11-12_a7697e6b-5496-4eed-bf04-9c62281fad36.pdf

Sub.: Outcome of Board Meeting

Audit Committee:

ii. Nomination and Remuneration Committee:

Deloitte 19" Floor, Shapath - V ^aS G Highway Haskins & Sells pred 36001

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIMITED

e}; D> 'yD 5 m § Ke ele

7. Adoption of Ind AS 116- Leases

8. Segment Results

Deloitte 19" Floor, Shapath - V Haskins & Sells oe ea 380 ⁰¹⁵

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIMITED

Deloitte Haskins & Sells

SYMPHONY LIMITED

8. Adoption of Ind AS 116- Leases

|9. Segment Results

(A) Standalone Performance

(B) Consolidated Performance Analysis

{C) Shareholders' Payout

AI assistant

Symphony Limited — Interim / Quarterly Report 2019

60717_rns_2019-11-12_a7697e6b-5496-4eed-bf04-9c62281fad36.pdf

Sub.: Outcome of Board Meeting

Audit Committee:

ii. Nomination and Remuneration Committee:

Deloitte 19" Floor, Shapath - V aS G Highway Haskins & Sells pred 36001

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIMITED

e}; D> 'yD 5 m § Ke ele

7. Adoption of Ind AS 116- Leases

8. Segment Results

Deloitte 19" Floor, Shapath - V Haskins & Sells oe ea 380 015

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SYMPHONY LIMITED

Deloitte Haskins & Sells

SYMPHONY LIMITED

8. Adoption of Ind AS 116- Leases

|9. Segment Results

(A) Standalone Performance

(B) Consolidated Performance Analysis

{C) Shareholders' Payout

More from Symphony Limited

Symphony Limited Interim / Quarterly Report 2019

Deloitte 19" Floor, Shapath - V ^aS G Highway Haskins & Sells pred 36001

Deloitte 19" Floor, Shapath - V Haskins & Sells oe ea 380 ⁰¹⁵