Symphony Limited — Interim / Quarterly Report 2020

Feb 7, 2020

Sub.: Outcome of Board Meeting

• 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, 2019. Copies of Unaudited Financial Results, Limited Review Reports and Data sheet showing performance analysis of Unaudited financial results are attached herewith.
• 1. 3¢Interim Dividend of % 20/-per equity share (FV of %2/-) 1000% amounting to % 168.67 Cr. (including Dividend Distribution Tax (DDT) of = 28.76 Cr.) for the financial year 2019-20.

					February 7, 2020
To,
BSE Limited			National Stock Exchange of India 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:
Unaudited 1. Reports issued herewith.	Consolidated and the by on December 31, 2019. Copies of Unaudited Financial Results, Limited Review Reports and Data sheet showing performance analysis of Unaudited financial	Standalone Statutory Auditors	Results Financial the third quarter for	along with	Review Limited / nine months ended results are attached
3¢Interim Dividend 2. 168.67 Cr. (including % year 2019-20.	20/-per of % The break-up of dividend payout is as under:	equity Dividend Distribution Tax	share (FV (DDT)	1000% of %2/-)	amounting to of = 28.76 Cr.) for the financial
Particulars	Dividend per	% of	Dividend	DDT	Total Payout
	share (FV Rs. 2/-) Dividend		Amount	(R in Cr.)	(in Cr.)
			(8 in Cr.)
Special Dividend	18	900	125.92	25.88	151.80
Interim Dividend	2	100	13.99	2.88	16.87
Total	20	1000	139.91	28.76	168.67

This is in 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 10:45 hours (IST) and concluded at _14* 20 hours (IST).

Kindly take note of the same and oblige.

Thanking You,

Yours Truly, For, Symphony Limited

Mayur Barvadiya Company Secretary Encl.: As above

Email: companysecretary@symphonylimited.fom. FP12-TP50 Bodakdey, Off SG Highway, Anmedabad 380 059, India T: +91-79-66211111. F: +91-79-66211140 | www.symphonylimited.com CIN - L32201GJ1988PLCO10331

<i Chartered Accountants Deloitte 19" Floor, Shapath - V S G Highway J Ahmedabad - 380 015 Haskins & Sells dojo In

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 nine months ended December 31, 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 enabie 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.
• 1. 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)

Ph

Gaurav J] Shah (Partner) (Membership No. 35701) (UDIN: 20045 F01 AAAAAM 4305 )

Place: New Delhi Date: February 7, 2020

PHO BD

ce		@];	D	ele a¥D R VE
					i
				PHO BD
	ate 'e) s	TL Ce ETB	andalo	Q R s d se)	ended De ae	019	@ In Crores
	Quarter 31-Dec-19]31-Dec-18]	20-Sep-19)	Sr.	[Particulars	31-Dec-19	Nine Months Ended_ Year Ended 131-Dec-18 34-Mar-19
	(Unaudited) (Unaudited) (Unaudited)] "°			[income	(Unaudited) ](Unaudited))		(Audited)
207	459)	195)	1 a,	Revenue from operations	562) 33	386)	524)
11 218]	10 169	1 206;	b.	Other income Total Revenue	596	23) 409	33 857
15)	9	2	2 a.	Expenses Cost of Materials consumed	2	18	20)
84) g	39) 13)	105 (4)	lb. ic.	Purchase of stock-in-trade Changes goods, inventories finished work-in- of in	261 5	be 23)	220) "1
14	14]	15)	id.	Progress and stock-in-trade Employee benefits expense	42	40)
Oo 1	Q 1	QO 2	le. if.	Finance costs Depreciation and amortisation expense	q 4	0 3	0 4
3 18}	1 15)	1 15)	ig. lh.	Advertisement and sales promotion expense Other expanses.	32) 48)	21 4t	25) 50}
144 bei	112 87	136 70]	3	Total expenses Profit before exceptional items and tax (1-2}	414) 161	296) 114]	393) 164]
e	2	-	4	Exceptional Items (Refer note no. 5)	4	4	24
77 19}	87] 14]	70] 13]	§ 6	Profit before tax (3-4) [Tax Expense (Refer note no. 4)	161 40)	110) 28)	140) 39)
58)	43	57]	7	Net Profit for the period (5-4) Other comprehensive income	141	82)	101
			8	Items that will not to be reciassified to profit or loss :
(0)	(0)	(0)	(i)	Re-measurement gains/(losses) on defined benefit plans Income tax effect on above	(0)	(0)	(0)
fe	al	0]	(i)	reclassified Items that will be to profit or loss :	ql		0
2	qa)	qy		(i) ~~ Net far value gain/(loss) on debt instruments	(ay	(6)	Ol
(o}}	o	Ql	(i)	income tax effect on above	0	1	(0)
2 60}	(1) 42)	is		Totat other comprehensive income/(loss), net of tax Total comprehensive income (7+8)	(1) 440	(8) TT	0 104
14	414)	56) 44]	® 10	Paid-up Equity Share Capital (Face Value 2 2/- per share)	14)	14]	14]
			11	[Reserves excluding Revaluation Reserve			655
8.34	8.02	8.02	12	Earings Per Share (of € 2/- each )* Basic & dituted (©)	20.08]	11.68	14.44)
#0	represents amount less than ® 50 lacs.			* EPS is not annuaksed for the quarter and nine months ended December 31, 2019, December 31, 2018 and September 30, 2019.
NOTES:
'on February 07, 2020.				1. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held)		months
				2. The Statutory auditors of the Company have carried out limited review of the financial results for the quarter and nine			ended on December}
31, 2019.				3. The Board of Directors in their meeting held on February 07, 2020 dectared 3rd interim dividend of 1000% i.e. & 20/- per equity share of & 2/- each)
				amounting to 2 168.67 crores (including dividend distribution tax & 28.76 crores) comprising as under:
	Sr. Particulars		Dividend Per Share	% of Dividend)	Olvidend Amount (@	DOT (In Crores)	Total Pay out (@ in)
			& (FV e 2)		in Crores)		Crores)
No.	1 Special Dividend			50056 18) 700%)	125.92) 13.99	25.88) 2.88	151,80) 16.87,
	2 Interim Dividend			2

HM

No.	Sr. Particulars	Dividend Per Share & (FV e 2)	% of Dividend)	Olvidend Amount (@ in Crores)	DOT (In Crores)	Total Pay out (@ in) Crores)
	1 Special Dividend	18)	50056	125.92)	25.88)	151,80)
	2 Interim Dividend	2	700%)	13.99	2.88	16.87,
	Total	20	000%]	139.91	28.76	168.67,
	Financial Services Limited (IL&FS) are redeemable between March, 2021 to October, 2022. During the previous financial year 2018-19, consider		5.(a) The Company's investments of 2 21.50 crores in Non-Convertible Redeemabie Cumulative Preference Shares of Infrastructure Leasing &

reported in Annual Report of F Y 2016-17, some serious irreguiarities were observed in certain transactions executed by & x Agent M/s. Sharepro Services India Limited (Sharepro). The Company has fied FIR against Sharepro, their employs . ancial ver 2018-19 towards compensation payable for the matter of two cases of the alleged fraudulent transfers aq abasrs.qharter ended September 30, 2019.

[6. Adoption of Ind AS 116- Leases

T. 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.

				/Gn April 01, 2019, the Company 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 eaming per share
T. 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]
Business.				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!
	Quarter Ended					Nine Months Ended Year Ended	(tin Crores)
	31Dec-19 31-Dec-18 30-Sep-19 (Unaudtted)] (Unaudited} (Unaudited)		i	se Particulars	(Unaudited) (Unaudited)	31-Dec-19 34-Dec-18 31-Mar-19	(Audited)
207 "	I 10	195} "1		1 Segment Revenue a. Air Cooting and Other Appliances b. Corporate Funds	563) x	387, 22)	527) 30}
218)	Oj -f 169	4 206)		c. Un-allocable Segment Totai	0} 595).	4 409)	4 557)
66)	48)	60)		2] Segment Results (Profit before Interest and Taxes - PBIT) a. Air Cooling and Other Appliances	150)	93)	132,
WW	9 Q +	10} - 70)		b. Corporate Funds c. Ur-allocable Segment Total	31	17 =!	8 4 140
77 19)	87) 0 0 14	0} 13}		Less: Fmance Costs Less: Taxes	181 0} 40}	110) 28)	0 39)
58	a	57,		Total Profit After Tax 3/Segment Assets	144	82	101
		149		a. Ag Cooling and Other Appiances	160)	155)	200)
160) 645)	155) 529	757		b. Corporate Funds	645)	529)	481
110) 915)	88) TT2	99) 1,005)		c, Un-allocable Segment Total	110 915)	88) 772}	88) 768
144	120	277]		4} Segment Liabiities a. Air Cooling and Other Appliances	144	120)	100)
144)	4 + + = 120)	4 - 277		b. Corporate Funds. c. Unellocable Segment Total	+ 144)	- + 120)	100}
16)	36	(128)		5] Capital Employed (As at period end) (See Note) a. Air Cooling and Other Appliances	16)	35)	100)
645 801	\$29) 564)	757 620)		b. Corporate Funds Seament Total	645) 61	529} 564)	481 581
NOTE:				Segment Results of Air Cooling and Other Appliances Segment have been calculated excluding investment and loans to subsidiaries for quarter and) nine months ended December 31, 2019. The Figures for the previous period's have been regrouped/reclassified to conform to the current period's}
classification.	(8. Geographical Segment						(@ in Crores)
	Quarter Ended					Nine Months Ended Year Ended
	31-Dec-19 31-Dec-18 30-Sep-19 (Unaudited) [(Unaudited) (Unaudited)		Ss et	Particulars		31-Dec-19 31-Dec-18 31-Mar-19 (Unaudited) (Unaudited))	(Audited)
178)	140)	189)		1] Segment Revenue inda a.	515)	347	487)
29) 207)	19} 159)	6 195		Rest of the world b. Revenue from operations	47 562	39} 366	37 524)
66)	51	69)		2]Segment Resutts (Profit before Interest and Taxes - PBIT) india a.	165)	98)	121
11 TT	§ 87	qj 70} i)		Rest of the world b. Segment Total Less: Finance Costs	16 181	12 110	19} 140

144	120	277]		a. Air Cooling and Other Appliances	144	120)	100)
4	+	4		b. Corporate Funds.		-	4
				c. Unellocable
+	=	-		Segment Total	+	+	-
144)	120)	277		5] Capital Employed (As at period end) (See Note)	144)	120)	100}
	36	(128)		a. Air Cooling and Other Appliances		35)	100)
16) 645		757		b. Corporate Funds	16) 645)
801	\$29) 564)	620)		Seament Total	61	529} 564)	481 581
NOTE:
				Segment Results of Air Cooling and Other Appliances Segment have been calculated excluding investment and loans to subsidiaries for quarter and) nine months ended December 31, 2019. The Figures for the previous period's have been regrouped/reclassified to conform to the current period's}
classification.
	(8. Geographical Segment						(@ in Crores)
	Quarter Ended					Nine Months Ended Year Ended
	31-Dec-19 31-Dec-18 30-Sep-19		Ss	Particulars		31-Dec-19 31-Dec-18 31-Mar-19
	(Unaudited) [(Unaudited) (Unaudited)		et		(Unaudited) (Unaudited))		(Audited)
				1] Segment Revenue
178)	140)	189)		Rest inda a.	515)	347	487)
29)	19}	6		of the world b.	47	39}	37
207)	159)	195		Revenue from operations	562	366	524)
				2]Segment Resutts (Profit before Interest and Taxes - PBIT)
66)	51	69)		india a.	165)	98)	121
11	§	qj		Rest of the world b.	16	12	19}
TT	87	70}		Segment Total	181	110	140
0 19	o 14	i) 13		Less: Finance Costs Less: Taxes	9 40)	0 28)	9
68)	43]	57,		Total Profit After Tax	141	82	39) 101
NOTE:	Secondary Segment Capital Employed :
	disclosures relating to Capital employed.			Fixed assets used in the Company's business and liebilities contracted have not been identified with any of the reportable segments, as the fhond) assets and services are used interchangeably between segments. The Company believes that it is not practical to provide secondary segment
					By Order Of The Board
					Bakert
Place : Ahmedabad					Ach#@l	Chalrman & Managing Director
	Date - February 07, 2020				00397573
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Chi dd As tants Deloitte ee eaey . S G Highway Haskins & Sells saad 0013

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 nine months ended December 31, 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.

• 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.
• 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. 103.09 Crores and Rs. 318.43 Crores for the quarter and nine months ended December 31, 2019 respectively, total net profit/(loss) after tax of Rs. 1.56 Crores and Rs. 6.02 Crores for the quarter and nine months ended December 31, 2019 respectively and total comprehensive income of Rs. 1.59 Crores and Rs. 6.12 Crores for the quarter and nine months ended December 31, 2019 respectively 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 revenue of Rs. 0.20 Crores and Rs. 0.20 Crores for the quarter and nine months ended December 31, 2019 respectively, total profit/(loss) after tax of Rs. (0.02) Crores and Rs (0.05) Crores for the quarter and nine months ended December 31, 2019 respectively and Total comprehensive income / loss of Rs. (0.02) Crores and Rs (0.05) Crores for the quarter and nine months ended December 31, 2019 respectively, 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 Registration No. 117365W)

Gaurav J] Shah (Partner) (Membership No. 35701) (UDIN: 20035701AAAAAN776 4 )

Place: New Delhi Date: February 7, 2020

SYMPHONY LIMITED

				SYMPHONY LIMITED
	Quarter Ended		i	Statement of Unaudited Consolidated Financial Results for the Quarter and Nine Months ended December 31, 2019		Nine Months Ended_	[Year Ended
	31-Dec-19 31-Dec-18 30-Sep-19 ae Particulars (Unaudited) (Unaudited) (Unaudited)			[income		(Unaudited) (Unaudited)}	31-Dec-19 31-Dec-18 ]_ 31-Mar-19 (Audited)
2390 10}	240 13} 253}	272) 11	1	Revenues from operations ja. lb. = Other Income Total Revenue	854 33) 887)	609 28) 637)	844 39)
300 gal	81	283 37	2	Expenses Cost of Materials consumed a.	191	171	883) 248
65) {8))	44) 4	110) {4)		lb. = Purchase of stock-in-trade Changes in inventories of finished goods, work-in-progress c. and stock-in-trade	255 7	147] (Oy)	221 (16)
27] 2 gy	29) 3 2	q 6		Employee benefits expense id. Finance costs le. Depreciation and amortisation expense f.	84) 3 15	75) 4 7	403] 7 10)
4 40) 227	4 35) 202	2] a4 218}		Advertisement and sales promotion expense ig. Other expenses lh, expenses Total	37 111 Tos!	27 86) 517	33) 123) 729)
73 4 73	54 +	65] -		exceptional Items and tax (1-2) 3 Profit before 4 Exceptional items (Refer note no. 6)	479) +	120) 4	154] 24]
22) 51	51 14] 37	65] 7 58)	6	5 Profit before tax (3-4) Tax Expense 7 Net Profit for the period (5-6)	479) 37 142	116) 28) 8s	120) 39) 91]
\$1 0	37 q	58) 0]	8	Attributable to: Owners of the Company Non Controlling interests JOther comprehensive income	142) Q	88) Q	92) a)
(0)	(0)	(0)		items that will not to be reciassified to profit or loss : (j) ~~ Re-measurement gains/(losses) on defined benefit plans	(0)	(0)	(0)
0	al			income tax effect on above tems that will be reclassified (i) to profit or loss :	a
2 {0} 2	ay (0)	(Ay		Net fair value gain/(loss) on debt instruments (i) Income tax effect on above (i) Total other comprehensive income/(loss), net of tax	(y 0	(8) 1	0 (0) 0
83) 53	(1) 36) 36	qa 57 57	9	[Total comprehensive income (7+8) Attributable to: Owners of the Company	qd) 144 144	(5) 83) 83}	st 92]
0 14	oO 14	Ol 14]	10	Paid-up Non Contratiing Interests Equity Share Capital (Face Value © 2/- per share)	of 14	a 14)	q) 14)
			11 12	[Reserves excluding Revaluation Reserve Earnings Per Share (of * 2/- each )*			652
7.34) #0	represents 5.29)	8.18) amount less than &		Basic & diluted (2) * EPS is not annualised for the quarter and nine months ended December 34, 2019, December 31, 2018 and September 30, 2019.	20.33]	12.60)	13.09)
NOTES:				1. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 97,
2020. 2019.				2. The Statutory auditors of the Group have carried out limited review of the financial results for the quarter and nine months ended on December 31,
	Sr. Particulars			3. The Board of Directors in their meeting held on February 07, 2020 declared 3rd interim dividend of 1000% i.e. © 20/- per equity share of ® 2/- each Jamnounting to 2 16.67 crores (including dividend distribution tax 2 28.76 crores) comprising as under: Dividend % of Dividend)	Dividend)	DDT (In	Total Pay
No.)				Per Share U(FVE 2)	Amount (® in Crores)	Crores)	out (€ In) Crores)
	1 Special Dividend 2 Interim Dividend			900% 18 100% 2 1000%	125.92 13.99	25.88 2.88	151.80) 16.87
	Total			20) 4. Symphony AU Pty Ltd, Austratia, a subsidiary of the Group, acquired 100% equity capital of Climate Technologies Pty Ltd, Australia effective from July 01, 2018 and in accordance with the requirements of Ind AS 103-"Business Combination', the Group consolidated the financial figures on provisional	139.94	28.76)	168.67
				basis effective from the quarter ended on September 30, 2018 and for the panod thereafter. The determination of the purchase price consideration of % 203.26 crores (AS 41.408 Million) of the acquired company have been validated by an independent agency. Accordingly, the Company has accounted for] the said acquisition in tts books at fair values as on the date of acquisition. In pursuant to the above, the figures for the nine months ended December 31,
				2019 include the figures of the business of Symphony AUPty. Ltd., Australia and hence, the figures of nine months ended on December 31, 2019 are not] icomparable with the figures of corresponding nine months ended on December 31, 2018,
5.				The financial resutts of newly incorporated wholly owned subsidiary company on June 10, 2019, "Symphony Climatzadores Ltda', Brazil was! consolidated with the Group for the first time during previous quarter ended September 30, 2019. 6. (a) The Group's investments of 2 21.50 crores in Non-Convertible Redeemable Cumulative Preference Shares of Infrastructure Leasing & Financial
				Services Limited (IL&FS) are redeemable between March, 2021 to October, 2022. During the previous financial year 2016-19, considering the prevailing uncertainty as regards recovery of these 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 transactions executed by erstwhile Registrar & Transfer Agent M/s. Sharepro Services india Limited (Sharepro). The Group has filed FIR against Sharepro, their employees and others in this matter]

No.)	Sr. Particulars	Dividend Per Share U(FVE 2)	% of Dividend)	Dividend) Amount (® in Crores)	DDT (In Crores)	Total Pay out (€ In) Crores)
	1 Special Dividend	18	900%	125.92	25.88	151.80)
	2 Interim Dividend	2	100%	13.99	2.88	16.87

7. Adoption of ind AS 116- Leases

8. Segment Results

|AS per recognition criteria mentioned in Ind AS-108, Cperating 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 hes considered Corporate Funds as a separate segment so as to provide better understanding of performance of Air Cooling and Other Appliances Business.

				On April 01, 2019, the Group has adopted Ind AS 116, Leases, using modified retrospective method. Accordingly, the comparatives have net been
				retrospectively adjusted. The effect of this adoption is insignificant on the profit for the perlod and eaming per share.
8. Segment Results				AS per recognition criteria mentioned in Ind AS-108, Cperating 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 hes considered
				Corporate Funds as a separate segment so as to provide better understanding of performance of Air Cooling and Other Appliances Business.
							# In Crores)
	Quarter Ended 31-Dec-19 31-Dec-18]	30-Sep-10]	°"	particulars		Nine Months Ended Year Ended 31-Dec-19 31-Dec-18 31-Mar-19
	(Unaudited) (Unaudited) (Unaudited}		No.			(Unaudited)](Unaudited)}	(Audited)
				1 Segment Revenue
289 u	243} 10	272 "1		a. Air Cooling and Other Appliances b. Corporate Funds	855) 32	615 22	853
		283)		Segment Total	887	637)	883
wo	253)
64]	45)	58)		2] Segment Resutts (Profit before Interest and Taxes - PBIT) a. Air Cooling and Other Appliances	156	103
41	9	10		b. Corporate Funds	Kt	7
75) 4	54) 3	\$8 3		Segment Total Less: Finance Costs	167 8	120 4
22	14)	7		Less: Taxes	37]	28	129 137 39)
51	37	58		Totat Profit After Tax 3] Segment Assets	142)	88	91
619}	539	551		a. Air Cooling and Other Appliances.	619)	539	590)
645 1,264	529 1,068)	757 1,208)		b. Corporate Funds Segment Total	645) 1,264)	529} 1,068)
				4) Segment Liabiites
483)	399) + +	571 7		@. Air Cooling and Other Appliances b. Corporate Funds	483 +	399) +	461 1,071 401
483	380)	§71		Segment Total 5 Capital Employed (As at period end)	483	398	401
220}	284)	100		8. Air Cooling and Other Appliances	220}	264)
645 865	529 793)	757 857		b, Corporate Funds Segment Total	645) 865)	§29) 793]
				* Including non-current borrowings w.e.f. previous quarter, previous periods are restated.			312) 461 793}
	9. Geographical Segment						{@ In Crores}
	Quarter Ended 31Dec-19 31-Dec-18 30-Sep-19		Re	Particulars		Nine Months Ended Year Ended 31-Dec-18 31-Dec-18 31-Mar-19
	(Unaudited) (Unaudited) (Unaudited)		*			(Unaudited)](Unaudited)]	(Audited)
178)	140)	Us		1] Segment Revenue India a.	515	347	467)
112]	100)	83)		Rest of the world b.	339)	262}	377,
280)	240	272)		Revenue from operations 2/Segment Resutts (Profit before interest and Taxes - PBIT)	884	609)	B44)
66)	31	69)		India a.	185)	98}	121
75)	3 9 54)	gy 68)		Rest of the world b. Segment Total	22) 187,	22 120	137
22	2 3 14	3 7		Less: Finance Costs. Less: Taxes	8 37	4 28

			1] Segment Revenue
178)	140)	Us	Rest India a.	515	347	467)
112]	100)	83)	of the world b.	339)	262}	377,
280)	240	272)	Revenue from operations	884	609)	B44)
			2/Segment Resutts (Profit before interest and Taxes - PBIT)
66)	31	69)	India a.	185)	98}	121
9	3	gy	Rest of the world b.	22)	22	16
75)	54)	68)	Segment Total	187,	120	137
2	3	3	Less: Finance Costs.	8	4	7
22	14	7	Less: Taxes	37	28	39
51	37	58)	Total Profit After Tax	142)	88)	91
Capital employed			Fhoad 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 Iservices are used interchangeably between segments. The Group believes that it is not practical to provide secondary segment disclosures relating to
			Mes Te	By Order Of The Board
Place : Ahmedabad	Date: February 07, 2020		A yy (x	IN-O0387 573	hairman & Managing Director

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(A) Standatone Performance Analysis

		WORLD	LEADER AIR IN	COOLING
			SYMPHONY LIMITED
			Data Sheet : Quarter and nine months ended on December 31, 2019
	(A) Standatone Performance Analysis
						(t in Crores)
	Standalone				Standalone
			Particul
	Quarter Ended				Nine Months Ended	Year Ended
	3i-Dec-19 31-Dec-18	30-Sep-19]	Particulars	3i-Dec-19	31-Dec-18 31-Mar-19
{Unaudited}	{Unaudited}	(Unaudited)		{Unaudited}	(Unaudited)	(Audited)
206	159		194] Sates	560	385	522
qj	0		1) Other Operating income	2	1	2
207,	159		195] Revenue from operations	562	386)	524
30%		32%	Growth % Y-O-Y	46%
iy	10)		11) Other Income	33	23	33)
218	169	206] Gross	Revenue	595	409	557]
29%		33%	ss Growth X Y-0-Y 4 =	46% ae
101	78		91) Gross Margin(Sales - Material Cost)Vaiue	272	195)	261
78.68)	52.08		70.86) EBITDA	185.52	112.85	144.44
7719	56.98	69.64) PBT		180.94	109.58.	139.90)
352		49%]	Growth % Y-0-Y Rea RD	eRe 65%
58.32 36%	42.92	\$6.53) PAT 65x]	eae Growth %Y-O-¥	140.96] Tex!	82.01)	100.90

3i-Dec-19 31-Dec-18						(t in Crores)
	Standalone				Standalone
	Quarter Ended		Particul	Nine Months Ended		Year Ended
		30-Sep-19]	Particulars	3i-Dec-19	31-Dec-18 31-Mar-19
{Unaudited}	{Unaudited}	(Unaudited)		{Unaudited}	(Unaudited)	(Audited)
206	159		194] Sates	560	385	522
qj	0		1) Other Operating income	2	1	2
207,	159		195] Revenue from operations	562	386)	524
30%		32%	Growth % Y-O-Y	46%
iy 218	10) 169		11) Other Income Revenue	33 595	23 409	33)
29%		206] Gross 33%	ss Growth X Y-0-Y 4 =	46% ae		557]
101	78		91) Gross Margin(Sales - Material Cost)Vaiue	272	195)	261
78.68)	52.08		70.86) EBITDA	185.52	112.85	144.44
7719	56.98	69.64) PBT	Growth % Y-0-Y	eRe 180.94	109.58.	139.90)
352		49%]	Rea RD	65%
58.32	42.92	\$6.53) PAT		140.96]	82.01)	100.90
36%		65x]	eae Growth %Y-O-¥	Tex!
	models and positive trade sentiments.
49%	49%		47% Gross margin % of Sales a	49% snp	50%	50%
36%	34%		AX EBITDA % of Gross Revenue	31%	28%	26%
35%)	34%		34%] PBT Margin % of Gross Revenue	30%	27%	25%
27%	25%		27% PAT Margin % of Gross Revenue	24x	20%	18%
			0 employed (Monthly A Capital
		(148)	Air Cooling and Other Appliances	(43)
(56)	(13)				39)	45)
701	551	760]	Corporate Funds	661	514	512
			E(PBIT) X = Not Annuatsed
Infinite	Infinite	Infinite}	Air Cooling and Other Appliances	Infinite -	237%)	294%
2%	2%	1%	Corporate Funds	5%	3%	2%
22%	20%		21%] Return on Networth (PAT TTM/AVG Networth)	22%	20%
			Debtors and Inventory ratios			16%
1	8		2 Debtor Days (Debtors/TTM Sales)	1	8	30

	Standalone				Standalone	(x in Crores)
	Quarter Ended			Nine Months Ended		Year Ended
31-Dec-19	31-Dec-18	30-Sep-19	é Particulars	31-Dec-19	31-Dec-18	31-Mar-19
	(Unaudited) (Unaudited) (Unaudited)			(Wnaudited) (Unaudited)		(Audited)
645	529		757\a) Treasury Investment (excluding investments in	645	529	481
744	67		subsidiaries) 856/b) Treasury Investment (including investments in	744		569
			subsidiaries)		617
			Segment Revenue
178	140	189	India	515	347	467
23	19]	6	Rest of the world	47	39	57]
207) >» Sales to	159 Rest of the world	195) is up from €19	Total Cr. in December, 2018 quarter to &29 Cr. in December, 2019 quarter.	562)	386)	524

			Segment Revenue
178	140	189	India	515	347	467
23	19]	6	Rest of the world	47	39	57]
207)	159	195)	Total	562)	386)	524

Rest of the world is up from €19 Cr. in December, 2018 quarter to &29 Cr. in December, 2019 quarter.

(8) Consolidated Performance Analysis

	(8) Consolidated Performance Analysis
	'Consolidated				Consolidated	(v in Crores}
	'Quarter Ended 31-Dec-19 3i-Dec-18 30-Sep-19 )° afticulars		Particul	Nine Months Ended 31-Dec-19	31-Dec-18 31-Mar-19	Year Ended
	{Unaudited} (Unaudited) (Unaudited)			(Unaudited) (Unaudited)		(Audited)
289	240)		272 Sales	852	608	842
4 290)	Ql 240		O} Other Operating income	2
21%)			272] Revenue from operations	854)	1 609	2 844
10) 300		22%	Growth % Y-O0-Y	40%
19%	13 253		Al) Other Income 283) Gross Revenue	33 887	28 637	39 883
		22%	Growth X% Y-O-Y	39%
138	1)		129) Gross Margin(Sales - Material Cost)Value	399	290	389)
79.08	56.47)		74.18] EBITDA	202.22	126.98)	146.83,
73.03,	\$0.59	65.02) PBT		178.99	115.59)	130.06
44%		49%	Growth % Y-O-¥	55%
50.97)	36.63)	57.56] PAT		14194	88.02	91.45

^&gt;'Symphony AU. Australia:

>Impco, Mexico:

> GSK. China:

79.08	56.47)		74.18] EBITDA	202.22	126.98)	146.83,
73.03,	\$0.59	65.02) PBT		178.99	115.59)	130.06
44%		49%	Growth % Y-O-¥	55%
50.97) 39%	36.63)	57.56] PAT 85%)	Growth X% Y-O-Y	14194 61%	88.02	91.45
'Symphony AU. >	Australia:
quarter. The PAT is up from #4 Cr. to €8 Cr. >Impco, Mexico:			Symphony AU PTY LTD., Australia (Symphony AU) sales is up by 7% to ©91 Cr. in December, 2019, quarter from e85 Cr. in December, 2018
			The sales of IMPCO S. de. RL de. C. V., Mexico (impco), wholly owned subsidiary is almost flat during the December 2019, quarter which is off
			season. However, the loss during the quarter is up from &2 Cr. to e4 Cr. The profit of approx. ©9 Cr. on stock of aircoolers with Impco as on
reflected in consolidated financiats in next one of two quarters.			December 31, 2019 related to purchase made from inter companies is eliminated in consolidated financials. The same will be realised and
> GSK. China:
			The performance of Guangdong Symphony Keruilai Air Coolers Co., Ltd, China (GSK), wholly owned subsidiary has been. impacted on account of US-China trade war during the past quarter and YTD nine months. The sales of GSK in quarter ended December, 2019'down from © 11 Cr. in
December, 2018 to e8 Cr. in December, 2019 while,			in nine months, it is down from &47 Cr. to &37 Cr. while loss in 3 months is € 2 Cr
			(previous year €1 Cr.) and in nine months YTD stands at €4 Cr. vis a vis € Nil in corresponding period.
			47% Gross Profitability margin ratios
48%	46%		% of Sales	47%	48%	46%
26%	22%		26%) EBITDA % of Gross Revenue	23%	20%)	17%
24%	20%		23% PBT Margin % of Gross Revenue	20%	18%	15%
vx	14%		20% PAT Margin % of Gross Revenue	16%	14%	10%
			Segment-wise capital employed and ROCE
			Capital employed (Monthly Average)
168)	233	65)	Air Cooling and Other Appliances.	174	203)	226
704)	551	760)	Corporate Funds	661)	514	52
			ROCE(PBIT) - Not Annualised
38%,	20%	95%	Air Cooting and Other Appliances	90%)	50x	57x
2%	2%	1%	Corporate Funds	5%	3%	2%)
20%	20%		19%]Return on Networth	20%	20%	14%
			(PAT TTM/AVG Networth)
27	32)		Debtors and Inventory ratios 20) Debtor Days (Debtors/TTM Sales)	27	32	45,
35)	48		34} inventory Days (Inventory/TTM Sates)	35)	48	52
			769 reasury Investment

Treasury Investment 769	533

	iv) Geographical Segment-wise Revenue Consolidated				Consolidated	(e in Crores)
	Quarter Ended			Nine Months Ended		Year Ended
31-Dec-19	$31 - Dec - 18$	30-Sep-19	Particulars	31-Dec-18 $31 - Dec-19$		31-Mar-19
(Unaudited)	(Unaudited)	(Unaudited)		(Unaudited)	(Unaudited)	(Audited)
			Segment Revenue
178	140	189	India	515	347	467
112	100	83	Rest of the world	339	262	377
290	240	272	Total	854	609	844
(C) Shareholders' Payout 1800			Dividend per share ₹ (on Face value ₹ 2) Special Dividend	18.00
2.00	1.00	2.00	Interim Dividend	5.00	3.00	3.00
			Final Dividend			1.50
900%			Dividend (%) Special Dividend	900%
100%	50%	100%	Interim Dividend	250%	150X	150%

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