Symphony shares rally 18% in 2 days on announcing share buyback, 270%YoY jump in Q1 PAT

Shares of Ahmedabad-based electronic company Symphony have rallied 18% in the last two days, touching its new all-time high of Rs 1,724.40 on Thursday on NSE after announcing a 270% year-on-year (YoY) jump in its Q1 net profit along with a Rs 71.40 crore share buyback.

The share buyback will be done at a price of Rs 2,500 which will be a premium of 67% on the closing price of the stock as of Wednesday. The company has also announced August 21 as the record date for this purpose.

Additionally, the company also declared an interim dividend of Re 1 per share for the financial year 2024-25, for which August 14 has been fixed as the record date.


As per the company’s shareholding on a pre-buyback basis, 73.4% of the shares are held by the promoter and the promoter group while the remaining 26.6% rests in public shareholders’ hands like the FIIs, Indian Financial Institutions, mutual funds etc.

Also read: Godawari Power announces 1:5 stock split, special dividend along with Q1 results

For the quarter ended June 2024, the company posted a 270% YoY jump in its profit after tax (PAT) at Rs 88 crore, up from Rs 24 crore for the same period last year.

The company’s revenue from operation also rose by 76% YoY to Rs 531 crore against Rs 302 crore in the corresponding quarter of the preceding financial year.

Shares of Symphony have given 97 returns in the last one year while in the last 6 months, the stock has increased by 83.6%. On a year-to-date basis, the stock has surged by 96%.

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