On a relative gloomy day at the bourses, Solar Industries shines on strong numbers!

On a relative gloomy day at the bourses, Solar Industries shines on strong numbers!

by 5paisa Research Team Last Updated: Dec 10, 2022 - 05:59 am 29.1k Views
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Solar Industries reported strong Q4 results on May 3 and the market has rewarded the performance by positive price movement.

Shares of Solar industries opened at Rs 3042 with a gain of 3.75% or 110.1 in today’s opening session. The stock also witnessed a pre result rally on May 2, wherein it logged a day’s gain of 6.26%.

Solar Industries is one of the largest domestic manufacturer and supplier of bulk and cartridge explosives, detonators, detonating cords, and components. It has also ventured into the Defence segment in 2010 and diversified into manufacturing propellants for missiles and rockets, warheads and warhead explosives.

For the quarter ended March 31, 2022, the manufacturer of industrial explosives registered a growth of 66.40% from Rs 791.39 crore to Rs 1316.85 in consolidated net sales compared to the same period last year. EBITDA (excluding other income) stood at Rs 262.82, showing a growth of 59.72% on YoY basis. PAT rose sharply by 83.91% at Rs 174.79. EBITDA margin, however, shrunk by 83 bps at 19.96%. While PAT margin expanded by 128 bps at 13.27%.

For FY22, consolidated sales were up by 56.92% compared to FY 21 and stood at Rs 3947.61, while EBITA and PAT were up by 43% and 58% and stood at Rs 766.92 crore and Rs 455.47 crore, respectively.

Sales volume for the last quarter stood at 119536 MT which grew by 11% and for the full year stood at 406372MT with a growth of 22% compared to FY 21. The total order book for Solar Industries stands at Rs 2982 crore. For the year ended March 31, 2022, the company’s revenue from Défense and from Non-CIL (Coal India Ltd ) & Institutional customers grew by 103%.

At the time of writing the shares of Solar Industries were trading at Rs 2972.45, which from the day’s high of Rs 3152.45 has seen some profit booking on the counters.

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