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Symphony Limited (SYMPHONY) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹47.5B

SL Symphony Limited SYMPHONY · NSE
Price₹620.55
Fair Value₹199.21
Upside-67.9%
Quality45/100
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Expensive Growth
Loss-making · -12.5% net margin
Low debt · negative free cash flow
1.30% dividend yield
Mixed vs. peers (5/11)
Narrow moat 23/100
Evidence: Medium Range ₹145.04 – ₹253.38 Share as image

Fair value as of: Aug 13, 2026

From 8 valuation models · updated 4 days ago

Share price −11.3% over the past month.

Below-average quality, and screening another 68% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹253.38). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹1,816 ₹620.55 Fair Value ₹199.21 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹620.55 – ₹1,816 · fair‑value band ₹145.04 – ₹253.38 · the ₹620.55 price screens above the ₹199.21 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Symphony Limited (SYMPHONY) currently trades at ₹620.55, while our model-based Fair Value estimate is ₹199.21, implying the stock looks roughly 67.9% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Symphony Limited generated revenue of ₹11.3B at a net margin of -12.5%. Revenue declined 30.7% year over year. It earns a return on equity of -21.6%. Net debt stands at ₹1.2B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹145.04 (bear case) to ₹253.38 (bull case); at ₹620.55, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at -68%, SYMPHONY screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
ROIC Compounder ₹80.05 ₹103.19 ₹135.50 72
Gordon GGM ₹109.64 ₹227.96 ₹361.64 70
DDM Multi-Stage ₹109.64 ₹192.22 ₹239.25 61
All 8 models by family
Earnings-Based
EPV ₹79.83 ₹91.85 ₹102.37 59
Dividend Discount
Gordon GGM ₹109.64 ₹227.96 ₹361.64 70
DDM Multi-Stage ₹109.64 ₹192.22 ₹239.25 61
Multiples
EV/EBIT ₹212.17 ₹280.32 ₹348.47 53
EV/EBITDA ₹170.23 ₹224.40 ₹278.57 54
EV/Revenue ₹145.53 ₹204.60 ₹263.66 43
Asset-Based
NCAV (Graham) ₹39.68 ₹53.17 ₹79.36 50
Economic Profit
ROIC Compounder ₹80.05 ₹103.19 ₹135.50 72

Widest divergence: Multiples (₹224.40) versus Asset-Based (₹53.17). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) ₹11.3B
Revenue growth (YoY) -30.7%
Net margin -12.5%
Return on equity -21.6%
Free cash flow −₹1.1B FY2026
Operating margin 13.0%
More key figures
EPS (TTM) ₹-20.57
Dividend yield 1.3%
EPS growth (YoY) -66.0%
Net debt ₹1.2B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 44 · Market factors (momentum, volatility) 31

Profitability 30
Margins and returns on capital today
Quality Growth 2
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 87
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Symphony Limited, together with its subsidiaries, manufactures and trades in air coolers and other appliances under the Symphony brand for residential, commercial, and industrial customers in India and internationally.

Full company description

Symphony Limited, together with its subsidiaries, manufactures and trades in air coolers and other appliances under the Symphony brand for residential, commercial, and industrial customers in India and internationally. The company offers household coolers, such as desert, room, personal, and spot; commercial coolers; large space venti-cooling; tower fans; and water heaters, including spa, sauna, and soul geysers. It serves various sectors, including manufacturing units, restaurants and cafes, textiles, petrochemicals, showrooms, agriculture, automobiles, retail, banquets, gym, educational, healthcare, and warehouses. The company was formerly known as Symphony Comfort Systems Limited and changed its name to Symphony Limited in March 2010. Symphony Limited was founded in 1939 and is based in Ahmedabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Symphony Limited reported revenue of ₹11.3B in FY2026 versus ₹10.3B in FY2022, a compound +2.2%/yr. Reported net income was −₹1.4B in FY2026.

Growth Quality 16/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹11.3B
Latest YoY
−28.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−1.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.7%
Avg. growth/yr (19Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.9%
Revenue +2.2%/yr
FY22 ₹10.3B
FY23 ₹11.9B
FY24 ₹11.6B
FY25 ₹15.8B
FY26 ₹11.3B
Net income
FY22 ₹1.2B
FY23 ₹1.2B
FY24 ₹1.5B
FY25 ₹2.1B
FY26 −₹1.4B
Character of growth · EPS growth decomposed (2015-2026) +2.8 % p.a.
Revenue per share +9.4 pp

of which total revenue +9.2 pp · buybacks/dilution +0.2 pp

EBIT margin +2.4 pp
Tax rate +1.1 pp
Residual (interest, one-offs) −10.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

SYMPHONY screens 68% overvalued. Compare with Midea Group →

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Cite: Fair Value Calculator (2026). "Symphony Limited Fair Value". https://www.fairvalue-calculator.com/stock/SYMPHONY

Peer Group

Furnishings, Fixtures & Appliances · 315 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 45 · Below median
Fair Value upside −68% · Bottom 25%
Return on assets 6% · Top 25%
Net margin (TTM) -12% · Bottom 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth -31% · Bottom 25%
Dividend yield (TTM) 1.3% · Below median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/B 0.09× · Cheaper than 75% of peers
P/S (TTM) 0.04× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 20
FUTURE 0 · sector 0
PAST 0 · sector 19
HEALTH 100 · sector 98
DIVIDEND 26 · sector 63

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥84.34 ¥99.66 +18%
Gree Electric Appliances, Inc 000651 ¥40.23 ¥86.91 +116%
Haier Smart Home Co 600690 ¥21.79 ¥36.04 +65%
King Slide Works Co 2059 12,500 TWD 1,917 TWD -85%
Guangdong Songfa Ceramics Co 603268 ¥173.26 ¥38.83 -78%
Hisense Home Appliances Group 000921 ¥27.69 ¥50.62 +83%
Ecovacs Robotics Co 603486 ¥57.74 ¥54.14 -6%
Zhejiang Supor Co 002032 ¥41.68 ¥44.84 +8%
COWAY Co 021240 97,200 KRW 103,928 KRW +7%
Voltas Limited VOLTAS ₹1,290 ₹152.27 -88%

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Frequently asked questions

Is Symphony Limited (SYMPHONY) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹199.21 versus a price of ₹620.55, about −68% (overvalued).
What is the fair value of SYMPHONY?
Our model-based fair value for Symphony Limited is ₹199.21 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹620.55.
What is the quality score of SYMPHONY?
Symphony Limited has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Symphony Limited (SYMPHONY)?
Symphony Limited reported trailing-twelve-month revenue of about ₹11.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SYMPHONY?
The net profit margin of Symphony Limited is about -12.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Symphony Limited pay a dividend?
Symphony Limited currently shows a dividend yield of about 1.30% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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