Here's why Symphony shares surged 13% on Thursday

Shares of Symphony Ltd. were buzzing in trade on Thursday (May 8) after the company reported strong financial results for the January-March quarter, with its topline surging 47% year-on-year.

The company posted revenue of ₹488 crore, up from ₹332 crore in the same quarter last year. Domestic revenue grew 48% year-on-year, while international revenue rose 44%.

Net profit jumped 65% year-on-year to ₹79 crore, compared to ₹48 crore in the year-ago period.

Symphony's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) climbed 88% year-on-year to ₹107 crore as against ₹57 crore in the corresponding quarter last year.

EBITDA margin expanded by 480 basis points to 22% from 17.2% last year. This margin expansion was aided by the India business, which saw a 110 basis point uptick to 29.5%. Meanwhile, the international business turned profitable at the PBIT level.

On the outlook front, the company said the Indian summer started on a promising note, but momentum has been moderate due to erratic weather conditions.

The management has also made a strategic move to exit from its two international subsidiaries, CT Australia and IMPCO Mexico. Both entities were incurring huge losses, and despite earlier plans for a turnaround, the management has opted to withdraw from these markets to focus on high-margin products and geographies.

In an interaction with CNBC-TV18, Symphony MD Nrupesh Shah said that margins are expected to remain at these levels in the financial year 2026. Adjacent categories like geysers, tabletop, kitchen cooling have contributed 17% to sales.

At present, Symphony shares are trading 9.67% higher at ₹1,308.70. The stock is flat on a year-to-date basis.