Solar Industries India Ltd. Results

Q2FY25 Quarterly Result Announced for Solar Industries India Ltd.

Industrial Products company Solar Industries India announced Q2FY25 results Highest ever Quarterly EBIDTA at Rs 475 crore & PAT at Rs 304 crore. Highest ever Quarterly Defence revenue Rs 300 crore+. Highest ever Orderbook of Rs 5700 crore+. Revised Capex for FY25 from Rs 800 crore to 1200 crore. Manish Nuwal, Managing Director & CEO, Solar Industries India, said: "The second quarter of this year once again brings us the privilege of announcing record achievements across key metrics. We have delivered a robust performance by registering the growth of 27% YoY in the quarter. We have achieved highest ever quarterly EBIDTA & PAT at Rs 475 crore & Rs 304 crore registering a PAT growth of 45% YoY and highest ever half yearly EBIDTA & PAT at Rs 949 crore & Rs 604 crore registering a PAT growth of 47% in the half year of FY25. The company has also achieved highest ever half yearly EBIDTA & PAT margins at around 27.90% & 17.77% respectively." "The company's portfolio expansion, encompassing products from energetic materials to ammunition, has received strong support from India's Defence contracts and export orders. We are expecting the Pinaka Orders very soon along with orders from the international customers. We are glad to share that defence section potential has started unfolding with revenue growth of 204% yoy and increasing three-folds from Rs 106 crore to Rs 322 crore in the quarter. We are optimistic of achieving defence product sale of Rs 1500 crore with defence reaching around 20% of total sales for the year FY25." "As we move forward the government's ongoing commitment to Housing & Infrastructure development and rising power demand gives us the confidence to reach our annual guidance. The industry faced subdued demand due to elections and incessant monsoon season impacting the execution of mining & infrastructure activities. Despite these strong headwinds we achieved the growth due to strong performance from international business and defence." "We are happy to highlight that we have recently bagged the two-year order from Singereni Colleries CL to the tune of Rs 887 crore and defence products worth Rs 1,110 crore recently, consolidating our current order book to Rs 5,700 crore +. On the backdrop of these orders and upcoming opportunities, we are revising our annual capex guidance significantly upward from Rs 800 crore to around Rs 1,200 crore for FY25."

Q1FY25 Quarterly Result Announced for Solar Industries India Ltd.

Industrial Products company Solar Industries India announced Q1FY25 results: Highest ever Quarterly EBIDTA & PAT margins around 28% & 18% Highest ever Quarterly EBIDTA at Rs 474 crore & PAT at Rs 301 crore. Highest ever Defence revenue in the quarter at Rs 200cr+ Volume grew by 16% YoY in the quarter. Commenting on the Quarterly results, Manish Nuwal, Managing Director & CEO, Solar Industries India said that “We are happy to announce that we have achieved highest ever quarterly EBIDTA & PAT at Rs 474 crore & Rs301 crore in the first quarter of FY2024-25. The turnover of the company stands at Rs 1,695 crore registering a 5% increase over Q4 of FY24. The company has also achieved highest quarterly EBIDTA & PAT margins at around 28% & 18% respectively.” He added, “The domestic explosive volume for the quarter grew by 16% YoY, which is in line with our annual guidance for the year FY25. The Government’s budget for FY25 with increased Capital outlay and greater emphasis on Infrastructure development, Housing & Roads is bound to increase demand for Explosives.” He also added, “We are pleased to share that the defence revenue stands at Rs204 crore for the quarter, registering a growth of 34% YoY. The company has delivered first lot of indigenous Loitering Munition to the armed forces. The developments of indigenous Loitering Munition, SEBEX & other explosives prove our company’s in-house R&D; capabilities. With these developments and considering the current defence order book of Rs2500 cr+ we will be sailing through our annual defence guidance of Rs1500 crcomfortably. We expect the growth in defence to continue with the help of much awaited Pinaka & other orders to commercialize.” He further added, “We are extending our presence in two new countries namely Kazakstan & Thailand. The acquisition of “Problast BS (Pty) Ltd” South Africa, is in line with company’s intent to expand operations in international markets.” He concluded by saying, “As we move forward, we are pleased to share the launch of our new logo which not only symbolizes "Solar" but also takes flight from the dynamic shape of propeller wings, a powerful representation of continued progress and our brand’s unique ability to uplift our stakeholders and the businesses we work with.”

Q4FY24 Quarterly & FY24 Annual Result Announced for Solar Industries India Ltd.

Industrial Products company Solar Industries India announced Q4FY24 & FY24 results: Highest ever Yearly EBIDTA at Rs 1,414 crore & PAT at Rs 875 crore. Volume grew by 24% in the quarter and 20% in a year. Defence Order book stands at highest level of Rs 2,600 crore+ Commenting on the Quarter & Yearly results, Manish Nuwal, Managing Director & CEO, Solar Industries India Limited said “We are pleased to close FY24 with the highest ever quarterly and yearly profits at Rs 243 crore & Rs 875 crore respectively. The turnover of the company stands at Rs 1,611 crore & Rs 6,070 crore for the quarter & year. In FY 2024, better performance in domestic business and increased defence sales, helped us to expand our margins resulting in the highest ever EBITDA & PAT in absolute terms for the year at Rs 1,414 crore & Rs 875 crore. These results are being achieved despite the losses from currency fluctuations and hyper inflationary conditions causing revenue loss of around Rs 300 crore+ in the quarter & Rs 900 crore + in year and EBIDTA loss of additional Rs 40 crore in the quarter & Rs 150 crore in the year as compared to previous year. This kind of performance reflects the strength of the company & its management.” He added, “We are further satisfied in sharing that defence annual revenue has crossed Rs 500 crore+ mark for the first time. Our Defence order book stands around Rs 2,600 crore+ and we are expecting big orders in coming quarters. As a result of these orders, we are expecting the defence revenue to grow Three-fold in FY25. Our business goals are well aligned with country's ambition to make India Atamnirbhar in the field of ammunition and emerge as a major export hub in coming years.” He also added, “The domestic explosives volume in this quarter grew significantly by around 24% & 20% in the year, aided by strong growth from mining & Infra sector. The domestic explosive orderbook of CIL & SCCL stands at around Rs 2500 crore.”

Q3FY24 Quarterly & 9MFY24 Result Announced for Solar Industries India Ltd.

Industrial Products company Solar Industries India announced Q3FY24 & 9MFY24 results: Highest ever nine-month EBIDTA: Rs 1,042 crore Highest ever nine-month PAT: Rs 633 crore Highest ever Quarterly & Nine-month EBIDTA margin: 25.69% & 23.38% respectively Highest ever Quarterly & Nine-month PAT margin: 15.53% & 14.19% respectively Volume grew by 27% in the quarter and 18% in nine months Defence Order book stands at the highest level of Rs 2,200 crore+ Commenting on Q3FY24 & 9MFY24 results, Manish Nuwal, Managing Director & CEO, Solar Industries India said, "The company recorded revenue of Rs 1,429 crore & Rs 4,459 crore in the quarter & nine month. The EBIDTA margin stands at 25.69% & 23.38% for the quarter & nine months respectively. Highest ever EBITDA and PAT in absolute and in margin terms for the nine months has been achieved despite of lower commodity prices, moderate defence product sales and disturbances in shipment on account of Red Sea issues, otherwise, the numbers would have been even better." He added, "The volume in the quarter grew significantly by around 27% & 18% in nine months, aided by strong growth from Coal mining & Infra sector. The domestic explosive order book of CIL & SCCL stands at Rs 2,589 crore. Given the government's clear focus reiterated in the interim budget on mining, the Housing & Infra sector augers well for our industry." He further added, "We have received export orders for the defence products to the tune of Rs 994 crore to be supplied over three years and the most awaited Pinaka orders are in the final commercial negotiation stage. The current order book for defence products stands at Rs 2,200 crore+. Looking at the overall orderbook we believe the revenues from defence products will increase substantially from next quarter." He also added, "Our International Business was impacted by inflation and currency volatility, but we believe that the present challenges are of a temporary nature and that is poised to stabilize over the course of the next one to two quarters. However, as a part of strategy, we are working on adding new geographies like Kazakhstan and Saudi Arabia." He concluded by saying, "As we move forward, we expect strong volume growth to continue along with much-awaited higher revenues from defence products."