ICICI Securities Ltd | Retail Equity Research The standalone performance of Symphony in Q3FY19 was much below our estimate (as revenue, earnings fell 27%, 35% YoY, respectively) led by lower domestic volume offtake and change in product mix. On the overseas front, Q3 tends to be a weak quarter for two subsidiaries in Mexico and China while recently acquired Climate Technology Australia recorded six-month revenue of | 141 crore, with EBITDA margin of ~6%, PAT of | ~4 crore. As a result,...