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These terms and conditions ("WhatsApp Terms and Conditions" as amended from time to time) are applicable to the Customers (defined hereinafter) that avail the Services (defined hereinafter) provided thereon by ICICI Securities Limited ("ICICI Securities") on the WhatsApp platform.

The WhatsApp Terms and Conditions shall be in addition to any other terms and conditions as stipulated by the ICICI Securities from time to time on its website (www.icicidirect.com) whether pertaining to the account or in relation to other products, services or facilities provided by ICICI Securities.

Any services that may be offered to the customer through the WhatsApp platform ("WhatsApp") is at the discretion of the ICICI Securities and/or basis the eligibility criteria of a customer and such services are subject to certain terms and conditions. In case of conflict between any of these WhatsApp Terms and Conditions and the terms and conditions for other services provided on the WhatsApp channel, specific terms and conditions of such services shall prevail.

Further, in case of inconsistency between the WhatsApp Terms and Conditions and any specific terms and conditions pertaining to account or any specific service/product/offer, the specific terms and conditions of that particular service/product/offer shall prevail.

1. DEFINITIONS

"Trading Account" refers to the trading account maintained by the Customer with ICICI Securities.

"Trading Account Related Services" shall mean the Services which pertain to information in relation to the Trading Account maintained with ICICI Securities by customer including but not limited to portfolio valuation, stock quote, order details, trade details etc which are enabled by ICICI Securities, from time to time, at its sole discretion.

"Registered ICICI Securities Number" is the authorized number of ICICI Securities, registered with WhatsApp for the purposes of providing Services herein.

"Customer" shall mean any person holding Trading Account or any prospective customer with ICICI Securities and interacting with ICICI Securities on WhatsApp using the Registered ICICI Securities Number / using the Services provided by ICICI Securities through WhatsApp. "Customer Information" refers to the personal data or information or such other data or information including any sensitive personal data in relation to the Customer such as information in relation to the trading account of the Customer, shared by the Customer or provided to the Customer by ICICI Securities or collected or obtained from the Customer or from WhatsApp or from any such source in the course of the Customer availing the Services hereunder.

"One Way Communication" shall mean the service provided by ICICI Securities to the Customer on WhatsApp where ICICI Securities sends its Customer one-way messages through its Registered ICICI Securities Number in the nature of information, alerts, updates, transaction alerts in relation to the Customer's Trading Account and such other communications as ICICI Securities may enable from time to time, at its discretion.

"Privacy Policy/Privacy Commitment" shall have the meaning as ascribed on the Website; "Service(s)" shall mean the One Way Communication and Two Way Communication services provided by ICICI Securities by itself or through any of its service providers, to a Customer on WhatsApp.

"Two Way Communication" shall mean the service provided by ICICI Securities to the Customers on WhatsApp where the Customer can communicate with ICICI Securities by sending it messages in the form of making requests, seeking information, asking queries etc. on the Registered ICICI Securities Number and where ICICI Securities responds to such messages. However, this service and ICICI Securities responses shall be limited only to such queries, information, requests etc. as may be determined by ICICI Securities from time to time, at its sole discretion.

"WhatsApp" is the application provided by WhatsApp Inc. 1601 Willow Road, Menlo Park, California 94025.

2. INTERPRETATION

All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
Words importing any gender include the other gender. 'We/us' refers to ICICI Securities and 'You/yours' refer to the customer using the WhatsApp facility.
Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations,amendments, re-enactments or replacements for the time being in force.
All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms and Conditions.
Reference to any law or legislation, regulation, rule shall mean, applicable, constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, notice, requirement or governmental restriction, having the force of law in any jurisdiction and include laws as amended from time to time.

3. PURPOSE

This WhatsApp platform serves as a supplementary medium through which we can communicate with you and provide Services and further enable certain services as ICICI Securities may decide in its sole discretion.

4. ELIGIBILITY FOR USING THE SERVICES

The Customer hereby agrees and undertakes that he/she shall use the Services only if he/she fulfills the eligibility as given below:

The Customer is an individual and is a major;
The Customer is a Guardian of a minor;
The Customer is of sound mind, solvent and competent to contract;
The Customer is a resident of India and is present in the territory of India at the time of utilization of the Services;
The Customer is a non-resident India (NRI) or is residing outside India.
The Customer is Principal Authorised Signatory of the Non Individual Account.

5. APPLICABILITY OF WHATSAPP TERMS AND CONDITIONS

These WhatsApp Terms and Conditions form a contract between the Customer and ICICI Securities. The Customer shall apply to ICICI Securities in the prescribed manner for availing of the Services. By applying and opting in for the Services, the Customer acknowledges that he has read, understood and accepted these WhatsApp Terms and Conditions and other specific terms and conditions as pertaining to the Account and any other products/offers/facilities and services availed by the Customer whether or not through WhatsApp.

No act, delay or omission by ICICI Securities shall affect its rights, powers and remedies under these Terms and Conditions and other terms on ICICI Securities website (www.icicidirect.com), hereinafter referred to as "Website".

The Customer hereby accepts and agrees that all Services and communications (both One Way Communication and Two Way Communication) taking place on WhatsApp, initiated either by ICICI Securities or the Customer, will be governed by and subject to these WhatsApp Terms and Conditions. Further, the Customer hereby agrees that the Customer grants express authority to ICICI Securities for carrying out the Services requested by the Customer on WhatsApp on its Registered ICICI Securities Number. Provided however that ICICI Securities shall not be required to authenticate the Customer, if any request for the Services comes on WhatsApp to ICICI Securities Registered Number, and in case of a Customer, if the number reflected in the requestor's mobile is a Customer's Registered Number, ICICI Securities shall be entitled to presume that it is the Customer itself which is interacting through WhatsApp and in case of any other Customer ICICI Securities shall be entitled to presume that the number reflected in the WhatsApp profile is the Customer's number and it is the Customer itself and not any other person who is interacting with ICICI Securities Registered Number. ICICI Securities's own record or log of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes.

6. SERVICES

The Customer agrees and accepts that ICICI Securities reserves the right to provide only such Services as ICICI Securities may at its discretion permit from time to time. ICICI Securities may also inform/update the availability/non-availability of any particular Service, at its sole discretion. The Customer hereby agrees that ICICI Securities may at any time, without notice to the Customer, modify, discontinue or make additions/deletions to the Services offered to the Customer. The Customer agrees that he shall not hold ICICI Securities responsible for not responding to the queries of/ information sought by the Customer or not providing a response to the satisfaction of the Customer or not processing any request of the Customer, in case such a message sent by the Customer in case ICICI Securities does not receive an instruction to this effect in its systems or the message sent by the Customer is not in the format as required by ICICI Securities or does not fall under the Services being offered by ICICI Securities at the time or ICICI Securities does not receive such a message for technical reasons or otherwise or for any reason whatsoever. ICICI Securities will have no liability in case of any fraud or impersonation incidents through the WhatsApp platform. Further, in case ICICI Securities permits any Service in the nature of a transaction, the Customer agrees that such a Service shall be subject to statutory/ regulatory limits and/or any limits that may be imposed by ICICI Securities, from time to time, at its sole discretion.

7. REGISTRATION AND VERIFICATION

For availing the One Way Communication and Two Way Communication service, the Customer agrees and confirms to have accepted (a) the WhatsApp Terms and Conditions applicable to the Customer for availing the Services mentioned herein; (b) the Privacy Policy of ICICI Securities applicable to the Customer for availing the Services mentioned herein; (c) any other Account/product/service/offer related specific terms and conditions as applicable and (d) all terms and conditions prescribed by WhatsApp for using its platform.

Provided that, ICICI Securities may modify the process for authentication, registration and/or verification of the Customer, for One Way Communication and/or Two-Way Communication, at any time, at its sole discretion.

8. UNSUBSCRIBE

You may choose/request for de-registration/un-subscription of the Services at any point of time by following the process as may be prescribed by ICICI Securities from time to time. Currently ICICI Securities provides the following channels for un-subscription:

Our Website: Visit the WhatsApp un-subscription section on our Website. Enter your mobile number. Enter the OTP received on your registered mobile number and submit.
Missed Call/ SMS to a specific number as updated on the Website.
Send 'STOP' keyword on the WhatsApp platform.

However, the Customer agrees that for this to come into effect, it may take such time as may be required by ICICI Securities. The Customer agrees that he will remain responsible for any requests made/ messages sent to ICICI Securities using the Services prior to the time such cancellation of the Services is effected by ICICI Securities. ICICI Securities will be at liberty to discontinue/ suspend/ terminate the Customer's use of the Services at any time without assigning any reason whatsoever. ICICI Securities may also discontinue or suspend or terminate Services/ facilities without prior notice if these Terms and Conditions are breached.

Once we have received the notification that you have unsubscribed, we will no longer process your information for the purpose(s) you originally agreed to and sent any further notification/message through WhatsApp, unless legally permissible otherwise.

9. IMPORTANT

The Customer shall apply to ICICI Securities for use of the Services (and/or for any changes to the options available under the Services) in such manner and through such modes as may be specified and made available by ICICI Securities from time to time including but not limited to application through forms as prescribed by ICICI Securities, 24-Hour customer care number, SMS if and when made available as permitted modes by ICICI Securities for use of the Services through the WhatsApp platform.
ICICI Securities in its sole discretion shall decide the devices, software platforms, versions, networks, methods, and data services that will be supported by the WhatsApp platform for providing these Services. Any attempts to modify unsupported versions for use in the WhatsApp platform will be treated an unauthorized use and violation ("Unauthorized Use") of these WhatsApp Terms and Conditions. The Services through the WhatsApp platform shall be suspended with immediate effect if there is Unauthorized Use by the Customer.
The Customer agrees that the Customer shall be responsible for upgrading any software, hardware and the operating system at his/her own cost from time to time so as to be compatible to continue to avail the Services offered by ICICI Securities. ICICI Securities shall be at liberty to change, vary or upgrade its software, hardware, operating systems, etc. from time to time and shall be under no obligation to support the software, hardware, operating systems used by the Customer and that the same shall be the Customer's sole responsibility. Some Services may not work on an outdated platform and hence it is Customer's sole responsibility to ensure timely upgradation of the WhatsApp platform.
By subscribing to Services on WhatsApp platform, the Customer agrees to get notifications via WhatsApp including account information, transaction details, and other services/communications. Customer also agrees to receive notifications including offers, new product features, any other important notification sent by ICICI Securities from time to time etc. on the Registered Customer Number via WhatsApp.
The Customer agrees that any Trading Account related Services at the discretion of ICICI Securities shall be provided to the Customers through WhatsApp platform only to a WhatsApp account associated with the Registered Customer Number.
The Customer is aware that it may not be possible for ICICI Securities to give detailed information on the Service/functionalities. ICICI Securities shall not be responsible or liable to you or any third party for the consequences arising out of or in connection with using of this Service or with respect to the limited information provided by ICICI Securities on WhatsApp. In case the Customer requires further information, Customer can reach out to ICICI Securities either in the nearest branch, on ICICI Securitiess Customer Care number or through any other channels provided by ICICI Securities.
The responses sent by ICICI Securities on WhatsApp platform (either for One Way Communication and/or Two Way Communication) are based on a program running at back-end. This program has been developed and regularly enhanced to handle the queries in best possible manner. However, for any answers that the Customer may not find satisfactory or for any inaccuracies arising therefrom, ICICI Securities shall not be held responsible. The Customer may call Customer Care number or email at headservicequality@icicidirect.com or nri@icicidirect.com or visit www.icicidirect.com in case of any clarifications.
The Customer agrees that ICICI Securities and / or its affiliates may hold and process the Customers personal information concerning the account/s on computer or otherwise in connection with the WhatsApp facility. You agree and consent that we may collect, store, use and/or disclose your personal data for the Services as detailed on our Website. The Customer also agrees ICICI Securities may disclose, in strict confidence, to other institutions, its service providers, such information as may be reasonably necessary for reasons inclusive of but not limited to the participation in any telecommunication or electronic clearing network, in compliance with legal directive and for fraud prevention. The Customer using the WhatsApp facility authorizes ICICI Securities to collect and use technical information about the equipment and related software, hardware and peripherals and any data and information stored in the equipment, whether internet-based or wireless, to improve ICICI Securities products and to provide services to the Customer.
All records of ICICI Securities generated by the transactions arising out of use of the Services through the WhatsApp platform, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.
Where ICICI Securities considers the instructions to be inconsistent or contradictory with any past instructions or any simultaneous instructions provided by Customer to ICICI Securities through other channels provided by ICICI Securities it may seek clarification from the Customer before acting on any instruction of the Customer or act upon any such instruction as it may deem fit. ICICI Securities shall have the right to suspend the Services if ICICI Securities has reason to believe that the Customer's instructions may lead to direct or indirect loss or may require an indemnity from the customer.
The Customer accepts that all information /instructions will be transmitted to and /or stored at various locations and be accessed by personnel of ICICI Securities (and its affiliates) or its service providers.
On the Customer opting in for the Services through the WhatsApp platform, ICICI Securities has the discretion to stop sending these alerts on SMS or any other channel.
The Customer is responsible for keeping security safeguard of his WhatsApp account linked to the mobile number.
The Customer understands that using WhatsApp application may carry extra risks and may not be secured. Further any message and information exchanged is subject to the risk of being read, interrupted, intercepted, or defrauded by third party or otherwise subject to manipulation by third party or may involve delay in transmission. ICICI Securities shall not be responsible or liable to the customer or any third party for the consequences arising out of or in connection with using of this Service.
The Customer understands that mobile phones are vulnerable to the threats such as but not limited to -
- Access by intruders to the data /information
- Identity theft
- Privacy violations
- Planting of stealth software and viruses
- Disablement or distortion of operations
- Interception of the transmission of encrypted data/message etc.
- The Customer shall immediately notify ICICI Securities in writing if Customer discovers/ suspects unauthorized access.

ICICI Securities shall not be responsible or liable to the Customer or any third party for the consequences arising out of or in connection with using of this Service. The Customer should immediately opt-out of the Services as per the unsubscribe process as detailed in section 8 above.

The Customer is aware that using mobile applications involves many uncertain factors and complex software, hardware, systems, etc. which are susceptible to interruptions and dislocations. ICICI Securities does not make any representation or warranty that the WhatsApp facility/service will be available at all times without any interruption and further that ICICI Securities shall not be responsible for any variation, reduction or imposition of the terms or the customers inability to use the mobile application.
The Customer is aware that authenticated technologies and strict security measures are required for using mobile applications. Customer undertakes to ensure that the password is not revealed to any third party including ICICI Securities officials or any unauthorized person. Customer shall be solely responsible for all the communication exchanged between customer and ICICI Securities while logging into this service.
Under no circumstances shall ICICI Securities, or its officials, employees, be liable for any direct, indirect, punitive, incidental, special, or consequential damages that result from the use of, or inability to use, this service or for receipt of any answer provided by ICICI Securities program running at the back-end.
The Customer agrees that the Customer shall not have any claim against ICICI Securities on account of any suspension, interruption, non-availability or malfunctioning of the WhatsApp service due to any link/mobile/system failure at ICICI Securities end for any reason thereof.
The Customer shall not reproduce, copy, or redistribute for commercial purposes any materials or design elements of this WhatsApp service.
The Customer shall ensure appropriate data network connection. Receipt of messages by Customer shall be subject to the data network connection and ICICI Securities shall not be held responsible for any delay or non-receipt of the responses at WhatsApp channel.
The Customer shall not submit or transmit any content through this WhatsApp channel that is:
- Obscene, Vulgar, or Pornographic, immoral, illegal, illicit, unethical etc.
- Encourages the commission of a crime or violation of any law.
- Violates any law in India and/or the jurisdiction in which customer resides.
- Infringes the intellectual or copyrights of ICICI Securities or a third party.
- Constitute confidential information and/or personal or sensitive information/data belonging to the Customer or any third person.
ICICI Securities reserves the right to remove or otherwise delete any content or submissions made by the Customer that violates the rules or which are inappropriate, as per ICICI Securities's sole discretion, without any liability or giving warning to the Customer.
All instructions for availing the services under the WhatsApp facility shall be provided through the Registered Customer Number in the manner indicated by ICICI Securities. The Customer is also responsible for the accuracy and authenticity of the instructions provided to ICICI Securities and the same shall be considered to be sufficient for availing of the services under the WhatsApp facility. The alerts would be sent on the mobile phone number, last registered with ICICI Securities.
The Customer agrees that if he/she notices any error in any information supplied to the Customer by the use of any of the Services, the Customer shall inform ICICI Securities of the same, as soon as possible. ICICI Securities will endeavor to correct the error promptly. The Customer agrees that all outputs of statements that may appear on WhatsApp, upon making a request to that effect, are information extracted from a computerized back up system maintained by ICICI Securities and may not be continuously be updated in real time. ICICI Securities shall provide the information as may be last updated on the systems of ICICI Securities. While ICICI Securities will take all reasonable steps to ensure the accuracy of the statement, ICICI Securities is not liable for any error and shall not hold ICICI Securities responsible for any loss incurred or action taken by the Customer by relying on such information.
The Customer agrees that the responses received by the Customer from ICICI Securities are based on program running at backend. This program has been developed and regularly enhanced to handle the queries in best possible manner. However, for any inappropriate/inaccurate answers or any answers that the Customers may not find satisfactory, ICICI Securities shall not be held responsible.
It is recommended for Customers who have subscribed to this WhatsApp service to delete WhatsApp application when changing their device so as to ensure there is no misuse of the same.
That all the Services provided to the Customer are subject to applicable law and the rules, regulations, notifications, circulars and guidelines introduced or amended from time to time by Securities & Exchange Board of India and/or any regulatory/ statutory/ governmental authority.
ICICI Securities has the right to retract the Customer's right to utilize the Service anytime it deems fit without any notice to the Customer.
The Customer hereby acknowledges that he is availing the Service(s) at his own risk and the Customer shall not hold ICICI Securities responsible or liable for any of the risks including but not limited to the following:
- Password misuse- The Customer acknowledges that if any third person obtains access to the Customer's device or SIM card or the Customer's WhatsApp, such third party may be in a position to access Customer information including Trading Account related information of the Customer, which may be confidential in nature.
- Mistake/Error- the Customer acknowledges that the Customer may be sent responses or shown information which may not be applicable to him/her or may not be sent a satisfactory response, and the Customer agrees that in such a scenario ICICI Securities shall not be liable for any loss to the Customer in this regard. The Customer shall therefore take all care to ensure that there are no mistakes and errors and that the message sent/ request made/ query asked by the Customer to ICICI Securities in this regard is error free, accurate, proper and complete at all points of time. The Customer agrees that ICICI Securities is providing the Services at the Customer's sole risk. The Customer agrees that ICICI Securities shall not be liable for any loss, damages or consequences whatsoever arising due to any erroneous or incomplete information or any delay in executing the instructions for reasons beyond the control of ICICI Securities. The Customer shall be liable and responsible to ICICI Securities and accede to accept ICICI Securities's instructions without questions for any unfair or unjust gain obtained by him in the course of availing of the Services.
- It may also be possible that the site of ICICI Securities may require maintenance or is otherwise down or there is a technical failure and during such time it may not be possible to process the request of the Customers. This could result in delays in the processing of instructions or failure in the processing of instructions and other such failures and inability. The Customer understands that ICICI Securities disclaims all and any liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by ICICI Securities to honour any Customer instruction for whatsoever reason. The Customer unequivocally and unconditionally understands and accepts that ICICI Securities shall not be responsible for any of the aforesaid risks. The Customer also accepts that ICICI Securities shall disclaim all liability in respect of the said risks.
The Customer agrees that the Registered ICICI Securities Number on the WhatsApp platform cannot be used for grievance redressal or reporting fraud as of now, ICICI Securities will have no liability on reporting of such incidents received through WhatsApp. The Customer may call Customer Care number or email at headservicequality@icicisecurities.com or visit www.icicidirect.com in case of any clarifications.
These WhatsApp Terms and Conditions may be withdrawn, superseded or modified at any time whatsoever, by ICICI Securities without any prior notice.

10. THIRD PARTY

WhatsApp is owned by a third-party unaffiliated with ICICI Securities. The Customer shall independently be guided by the privacy policies of WhatsApp and the third parties or group companies of WhatsApp and ICICI Securities has no control over them. ICICI Securities is not responsible for the privacy or security policies at these sites or other third-party sites that may be linked to within ICICI Securities's social media channels. The Customer should always review the privacy and security practices and policies of each third-party site you visit. ICICI Securities does not endorse and is not responsible for any ads, content, products, advice, opinions, recommendations or other material of third-party sites that may be promoted via advertising within any social media channels.

The Customer further understands and agree that WhatsApp or any other service provider through which we are providing the WhatsApp facility can review and monitor, store the contents shared/communicated through the WhatsApp or other service provider(s) and may share the same with third parties.

Hence, we strongly recommend that you:

Never share privacy-sensitive details via WhatsApp messages/ through the WhatsApp facility.
That we will not send messages of our own accord this way and will only respond to the messages sent to us except for any important communication and awareness messages.
Not to contact us through the WhatsApp channel for complaints, grievances or similar important matters.

11. DISCLAIMER OF LIABILITY

ICICI Securities shall not be responsible for any failure on the part of the Customer to utilize the WhatsApp facility due to the Customer not being within the geographical range within which the WhatsApp facility is offered and which forms part of the roaming network of such cellular service provider, providing services to the Customer availing such roaming facility from the respective cellular service provider. If the customer has reason to believe that the mobile phone number is / has been allotted to another person and / or there has been an unauthorized transaction in the account and / or his mobile phone handset is lost, he shall immediately inform ICICI Securities of the same.

The Customer agrees that ICICI Securities shall not be liable if:

the Customer has breached any of the terms and conditions, contained herein or
the Customer has contributed to or the loss is a result of failure on part of the Customer to advise ICICI Securities within a reasonable time about unauthorized access of or erroneous transactions by use of the Services; or
as a result of failure on part of the Customer to advise ICICI Securities of a change in or termination of the Customer's mobile phone numbers/SIM ("Subscriber Identity Module") cards.
there has been an unauthorized transaction/instruction provided through the WhatsApp channel as a result of any person having control or custody of telecommunications instrument (such as the mobile handset) so that such instrument may be used to give telecommunications instruction without authorization or any other issue/default/error/technological problem in the telecommunication instrument (such as the mobile handset) or duplication of mobile number / SIM of the Customer such as but not limited to SIM card cloning, virus in handset etc.

ICICI Securities shall endeavor to provide the WhatsApp facility on a best effort basis and the Customer shall not hold ICICI Securities liable for non-availability of the WhatsApp facility or non-performance by service providers, if any, engaged by ICICI Securities or any loss or damage caused to the Customer as a result of use of the WhatsApp facility for causes which are not attributable to ICICI Securities. ICICI Securities shall not be liable in any manner to the Customer in connection with the use of the WhatsApp facility.

ICICI Securities shall endeavor to carry out the instructions received from the Customer through the WhatsApp channel promptly, provided that ICICI Securities, shall not be responsible for the delay in carrying out such instructions due to any reason whatsoever, including, but not limited to, failure of operational system or any requirement of law or ICICI Securities's internal policies.

The Customer accepts that each WhatsApp communication may contain certain account information relating to the Customer. The Customer authorizes ICICI Securities to send account related information, though not specifically requested, if ICICI Securities deems that the same is relevant.

ICICI Securities shall not be held responsible for the confidentiality, secrecy and security of the personal or account information being sent through the WhatsApp facility. The Customer agrees that the access to the WhatsApp facility shall be only through the Registered Customer Number and any transaction which originates from the same, whether initiated by the Customer or not, shall be deemed to have originated from the Customer.

Under no circumstance, ICICI Securities shall be held liable if the WhatsApp facility is not available for reasons including but not limited to natural calamities, epidemic/pandemic, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Securities. ICICI Securities shall not be liable under any circumstances for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the Customer or by any other person. Illegal or improper use of the WhatsApp facility shall render the customer liable for payment of financial charges as decided by ICICI Securities or will result in suspension of the WhatsApp facility for the Customer.

ICICI Securities is in no way liable for any error or omission in the services provided by any cellular or any third party service provider (whether appointed by ICICI Securities in that behalf or otherwise) to the Customer, which may affect the WhatsApp facility.

ICICI Securities, does not warrant the confidentiality or security of the messages whether personal or otherwise transmitted through the WhatsApp facility. ICICI Securities makes no warranty or representation of any kind in relation to the system and the network or their function or performance or for any loss or damage whenever and howsoever suffered or incurred by the Customer or by any person resulting from or in connection with the WhatsApp facility.

Without limitation to the other provisions of these WhatsApp Terms and Conditions, ICICI Securities, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the Customer or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of ICICI Securities in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the Customer and the network of any cellular service provider and ICICI Securities's system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the Customer, ICICI Securities's system or the network of any cellular service provider and/or any third party who provides such services as is necessary to provide the WhatsApp.

Notwithstanding anything in the contrary provided in this terms and conditions, ICICI Securities shall not be involved in or in any way liable to the Customer for any dispute between the Customer and a cellular service provider or any third party service provider or WhatsApp (whether appointed by ICICI Securities for such purpose or otherwise) while availing these Services through the WhatsApp platform.

The Customer shall not interfere with or misuse in any manner whatsoever the WhatsApp facility and in the event of any damage due to improper or fraudulent use by the Customer, the Customer shall be liable for damages to ICICI Securities or for any losses suffered by ICICI Securities.

The Customer is solely responsible for protecting his/her OTP/debit card PIN/ password or mobile phone number and any other password and/or any other mode of verification as prescribed/ issued by ICICI Securities for the use of the WhatsApp facility from time to time without any liability of ICICI Securities in this regard. The Customer hereby agrees and accepts that he/she shall at all times be solely responsible for the protection and safe keep of his/her SIM card, Device and the applications installed thereon, specifically WhatsApp, login IDs, Customer Information, security details and passwords as mentioned hereinabove and hereby fully agrees that ICICI Securities shall in no manner be liable for any direct or indirect or consequential or other loss arising out of any action or omission because of compromise of the same in any manner whatsoever.

The Customer agrees that ICICI Securities assumes no liability whatsoever in case of any event of such compromise of the Customer's WhatsApp and ICICI Securities shall not be held responsible for any such event. Further, the Customer agrees and understands that WhatsApp can also be logged on from more than one device at the same time, including by using web log in and the Customer is aware of the risk in this regard while availing the Services such as compromise of Customer Information, breach of security of the Customer's WhatsApp account from a device other than the Customers and the Customer undertakes to be vigilant and careful and takes full responsibility for the security of his/her WhatsApp account. ICICI Securities shall not be responsible or liable to you or any third party for the consequences arising out of or in connection with using of this Service.

ICICI Securities will not be liable for:

any unauthorized use of the customer's password or mobile phone number or for any fraudulent, duplicate or erroneous instructions given on the WhatsApp channel;
acting in good faith on any instructions received by ICICI Securities from or on behalf of the Customer in relation to the WhatsApp facility;
error, default, delay or inability of ICICI Securities to act on all or any of the instructions given by the Customer due to any reason;
loss of any information/instructions in transmission;
unauthorized access by any other person to any information /instructions given by the Customer or breach of confidentiality;

ICICI Securities makes no representation or gives no warranty with respect to the quality of the service provided by any cellular service provider or by WhatsApp or any other service provider enabling ICICI Securities to deliver services through WhatsApp to the Customers.

ICICI Securities may provide any other services as a part of the WhatsApp facility and ICICI Securities shall not be liable for the oversight on part of the Customer to update himself /herself with the addition of services which have been included in the WhatsApp facility.

12. INDEMNITY

In consideration of ICICI Securities providing the WhatsApp facility, the Customer, at his own expense, agrees to indemnify, defend and hold harmless, ICICI Securities, its directors and employees, representatives, agents, customers and/or the affiliates, as the case may be, against all losses, damages, expenses, actions, claims, demands and proceedings whatsoever, that ICICI Securities may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by the Customer or otherwise for use of the WhatsApp facility.

The Customer further specifically agrees to indemnify, defend and hold harmless, ICICI Securities and/or its affiliates from any losses occurring as a result of the:

the Customer permitting any third parties to use the WhatsApp facility.
the Customer permitting any other person to have access to his mobile phone or as a consequence of leaving the mobile phone unattended or loss of mobile phone and ICICI Securities acting/not acting on any instructions received from the same.
the Customer having breached the WhatsApp Terms and Conditions.

13. TERMINATION

ICICI Securities may, at its discretion, withdraw temporarily or terminate the WhatsApp facility, either wholly or in part, at any time without giving prior notice to the Customer. ICICI Securities may, without prior notice, suspend the WhatsApp facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the WhatsApp facility.

ICICI Securities may suspend or terminate WhatsApp facility without prior notice if the Customer has breached these WhatsApp Terms and Conditions or ICICI Securities learns of the death, bankruptcy.

14. PROPRIETARY RIGHTS

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Solar Industries India Ltd. 20 May 2025 17:42 PM

Result PDF

Industrial Products company Solar Industries India announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

Net Revenue rose to Rs 2,167 crore from Rs 1,611 crore — up 35% YoY.
EBITDA increased to Rs 546 crore from Rs 371 crore — up 47% YoY.
EBITDA Margin improved to 25.21% from 23.06% — up 215 bps.
PBT jumped to Rs 464 crore from Rs 305 crore — up 52% YoY.
PAT rose to Rs 346 crore from Rs 243 crore — up 42% YoY.
PAT Margin improved to 15.98% from 15.07% — up 91 bps.

FY25 Financial Highlights:

Net Revenue rose to Rs 7,540 crore from Rs 6,070 crore — up 24% YoY.
EBITDA increased to Rs 2,031 crore from Rs 1,414 crore — up 44% YoY.
EBITDA Margin improved to 26.94% from 23.29% — up 365 bps.
PBT surged to Rs 1,739 crore from Rs 1,161 crore — up 50% YoY.
PAT rose to Rs 1,288 crore from Rs 875 crore — up 47% YoY.
PAT Margin improved to 17.08% from 14.42% — up 266 bps.

Presenting the Quarterly & yearly results, Manish Nuwal, Managing Director & CEO of Solar Industries, shared delightedly the pivotal year where strategy, scale, and execution converged to deliver highest ever revenue and profits, “We are happy to report the highest ever sales for the quarter & year at Rs 2167 crore & Rs 7540 crore. We have also achieved the highest ever quarterly EBIDTA & PAT at Rs 546 crore & Rs 371 crore registering growth of 47% & 42% yoy and highest ever yearly EBIDTA & PAT at Rs 2031 crore & Rs 1288 crore registering growth of 44% & 47% in the year FY25. We achieved around 27% EBIDTA margin more than our annual guidance”.

Mr. Manish highlighted “Solar’s international business is gaining good momentum and as a result registered a 18% YOY growth. Solar’s ability to expand its global footprint and forging strong relationship with its customers as a trusted partner, underscores company’s strength in identifying and capitalizing on global opportunities.“

He further stated that, “The defence sector revenue has increased from Rs 517 crore to Rs 1355 crore showing a growth of 162%. Years of strategic efforts in building state of the art facilities, developing wide range of products and qualifying products across the customers has positioned Solar as a strong defence player in the global market. This is reflected in the substantial increase in our order book to over Rs 15,000 crore, including a landmark order of Rs 6,084 crore for Pinaka rockets and contracts of around Rs 8,500 crore from international markets.

A historic milestone was the inauguration of a state-of-the-art loitering munition testing range and a 1230 meters UAV runway by Hon’ble Prime Minister Shri Narendra Modi, a testament to Solar’s growing capabilities in defence and aerospace. “Hosting Hon’ble Prime Minister of India was a moment of immense pride, boosting morale of Solar team”.

Manish expressed while sharing capex plans “We are propelling Solar to the next frontier. Further to capex of around Rs 1,200 crore in FY25, a massive plan to do capex of Rs 2,500 crore in FY26 will unlock new opportunities, scaling existing capabilities, upgrading technology, and expanding the product portfolio, including advanced munitions and aerospace solutions. Aligned with India’s Atmanirbhar Bharat initiative, Solar signed a Rs 12,700 crore MoU with the Government of Maharashtra to invest in defence and aerospace over the next decade.”

Result PDF

Q3FY25 Quarterly Result Announced for Solar Industries India Ltd.

Industrial Products company Solar Industries India announced Q3FY25 results:

Solar Industries posted Highest Quarterly Revenue at 1973 crore
Q3FY25 Net Profit at 338 crore up by 52%
Highest ever Quarterly Sales at Rs 1973 crore
Highest ever Quarterly EBIDTA at Rs 536 crore & PAT at Rs 338 crore.
Highest ever Defence revenue in the quarter at Rs 400 crore
Highest ever Order book of Rs 7100 crore

Manish Nuwal, Managing Director & CEO of Solar Industries, delightedly shared the impressive surge in revenue and profitability, "Our Q3 performance reflects the successful execution of our strategic initiatives, propelling our net revenue from Rs 1429 crore to Rs 1973 crore YoY. We have registered strongest quarter yet with growth in revenue by 38%. We have achieved highest ever quarterly EBIDTA & PAT at Rs 536 crore & Rs 338 crore registering a growth of 46% & 52% YoY respectively and highest ever nine monthly EBIDTA & PAT at Rs 1485 crore & Rs 942 crore registering a growth of 43% & 49% in nine months of the year of FY25. This impressive surge is attributed to efforts by the Solar team in explosives and defense sector.

Manish Nuwal addressed dynamic market Solar Industries operates in, emphasizing the short-term impact and long-term intact nature of its core business. He shared, " While domestic demand has been subdued due to the general & state elections in many parts and heavy monsoon season, our long-term growth trajectory remains robust, driven by our strategic diversification. Our international business has delivered exceptional third-quarter performance, grew 21% year-on-year and reached best ever Rs 758 crore in revenue.

Solar Industries, India's largest manufacturer of industrial explosives, is ideally positioned to capitalize on the sector's rapid growth. The comprehensive product portfolio, spanning diverse applications, combined with a strong focus on innovation, including specialized explosives and technical mining services, solidifies our market position. This prominent position ensures continued success in the booming industrial explosives market, driven by global infrastructure development and expanding mining operations to meet rising energy needs."

Commenting on the significant revolution underway in India's defense market, Manish Nuwal said: "The government's active promotion of private sector participation, driven by the "Atmanirbhar Bharat" initiative, is fueling modernization and innovation. Solar Industries, recognizing the potential of this sector early on, strategically made huge investment in building its defense capabilities, securing an early mover advantage. This foresight, combined with our expertise in energetic materials, has positioned us as a prominent player in this evolving landscape. Solar's defence business quarterly performance picked up the splendid growth of 570% y0y reaching the highest ever Defence revenue in the quarter at Rs 409 crore. The strong results & strong orders in hand are providing the necessary thrust for upcoming initiatives. On this backdrop company has signed an MOU with Government of Maharashtra for investing Rs 12700 crore in next 10 years to establish an Anchor Mega Project."

Manish Nuwal emphasized the confidence recent developments inspires, while applauding the company's resilience and foresight. "The nod from the Cabinet Committee on Security (CCS) for a procurement deal with Solar Industries to supply Pinaka Enhanced Range rockets to the Indian Armed Forces will significantly boosts our position and underscores our commitment to providing cutting-edge solutions for national security. This contract will drive revenue growth, open new possibilities, and further establish Solar Industries' prominence in indigenous defense manufacturing."

Looking ahead, Manish expressed optimism about the company's future prospects., "As we move forward, our dedication to innovation, operational excellence, and sustainable growth remains unwavering. With a clear vision and a strong foundation, we are confident in our ability to deliver enduring value for our stakeholders and shape a promising future for our business."

Result PDF

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."

Result PDF

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.”

Result PDF

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.”

Result PDF

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."

Result PDF

Q4FY23 Quarterly & FY23 Annual Result Announced for Solar Industries India Ltd.

Industrial Products company Solar Industries India announced Q4FY23 & FY23 results:

Q4FY23 vs Q4FY22:
- Net Revenue: Rs 1,929 crore vs Rs 1,317 crore, up by 46%
- EBITDA: Rs 369 crore vs Rs 264 crore, up by 40%
- PBT: Rs 302 crore vs Rs 219 crore, up 38%
- Net Profit: Rs 221 crore vs Rs 175 crore, up 26%
FY23 vs FY22:
- Net Revenue: Rs 6,923 crore vs Rs 3,948 crore, up by 75%
- EBITDA: Rs 1,320 crore vs Rs 767 crore, up by 72%
- PBT: Rs 1,102 crore vs Rs 607 crore, up 82%
- Net Profit: Rs 811 crore vs Rs 455 crore, up 78%

Commenting on the Quarterly & Yearly results, Manish Nuwal, Managing Director & CEO, Solar Industries India said that “We are pleased to announce the highest ever quarterly revenue which stands at Rs 1,929 crore up by 46% & the highest ever yearly revenue which stands at Rs 6,923 crore up by 75%. The net profit is UP by 26% for the quarter & 78% for the year, which stands at Rs 221 crore and Rs 811 crore respectively. The strong growth of our Non-CIL & Institutional sector, along with Export and Overseas were the key drivers of topline. These results are being achieved with improved operational performance, despite the challenges arising mainly out of volatility in commodity prices, currency fluctuations, and hyper inflatIonary conditIons, demonstrating the strength of the company.”

He also said, "We are further delighted to share that we have achieved the highest ever Defence revenue in the quarter and the annual revenue has reached around Rs 400 cr., which is in line with our guidance given at the beginning of the year. Our Defence order book has crossed Rs 11 OO cr. mark, which is a big milestone for our company. The order book comprises of export orders of Pinaka Rockets, Nagastra UU and other ammunitions. We are expecting the product evaluations of Pinaka Rockets to be completed in 3 months and the orders from Pinaka rockets will substantially push the revenue from defence in the coming years. On this backdrop, we are expecting the defence revenue to double in the current financial year. Our corporate objectives & business goals are 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, "In line with our strategic plans to expand our market presence in the country we have acquired RECL and have started land acquisition for our upcoming facilities in South and Northwest India whIch will be completed within a period of two years. We are also working on increasing our global manufacturing presence from 8 to 12 countries this year."

He further added that “The government of India’s strong policy support and huge outlays for Infra projects, Housing, Mining and providing a level playing field in for private sector in Defence procurement augers well for our company.

We are expecting a volume growth of around 15% based on strong demand from Coal, Housing & Infra sector. We are entering FY 2024 with an optimistic outlook on increasing our EBIDTA margin via enhancing the market footprint, new orders for defence products and reduced raw material prices.

Looking at the upcoming opportunities and our strategic investments we have planned capex of around Rs.750 cr in FY 2024 which includes domestic, overseas, and defence business.”

He concluded by saying, “Our company has proposed a dividend of Rs 8/ share for the current year as compared to Rs 7.5/ share in previous year. ”

Result PDF

Q3FY23 Quarterly Result Announced for Solar Industries India Ltd.

Other Industrial products firm Solar Industries India announced Q3FY23 results:

Q3FY23:
- Highest ever sales in the quarter crossing Rs 1,800 crore.
- Highest ever net profit in the quarter crossing Rs 200 crore.

Commenting on the Quarterly & Nine Month results, Mr. Manish Nuwal, Managing Director & CEO, Solar Industries India Limited said that "On the backdrop of strong performance by our International & Institutional businesses, the revenue for the quarter stands at Rs 1,812 crore up by 78% YoY & nine-month revenue stands at Rs 4,994 crore up by 90% YoY and the net profit is up by 109% YoY for the quarter & 110% YoY for nine months, which stands at Rs 219 crore and Rs 591crore respectively."

"Defence revenue has crossed Rs 100 crore for the consecutive second quarter and progressing towards a yearly turnover of around Rs 400 crore. Our company has participated in various RFP's which includes RFP for one of the PINAKA variant and RFP for Drone-based loitering munitions. The defence order book now stands at Rs 817 crore."

He also added "The company's intent to offer its products for space application has also started showing results after the successful launch of VIKRAM S and static test of PSOM XL rocket motor made for ISRO. The company intends to expand it further in coming years."

He further added, "Amid geopolitical tensions, the risk of a higher rate of interest and economic slowdown brings in overall volatility in the business environment. Despite these challenges, our quarterly & nine-month revenue number gives us the confidence to revise our annual guidance upward from 50% to over 65% for FY23"

"Going forward, we will stay focused on expanding our core businesses through continuous strategic investments to enhance the Stakeholder's value."

Result PDF

Q2FY22 Quarterly Result Announced for Solar Industries India Ltd.

Highlights:

Quarterly:

Net Revenue was Rs.788 Crs
EBITDA was at Rs. 143 Crs
PBT was at Rs. 104 Crs
Net Profit: Rs. 75 Crs

Half Yearly:

Net Revenue was Rs. 1613 Crs
EBITDA was at Rs. 318 Crs
PBT was at Rs. 244 Crs
Net Profit: Rs. 176 Crs

Commenting on the results, Mr. Manish Nuwal, Managing Director & CEO, Solar Industries India Limited said that "We are pleased to present highest ever second quarter & half yearly numbers with sustained growth across geographies and sectors.

We have been able to achieve a decent EBIDTA margin despite of challenges, mainly arising out of steep rise in commodity prices and foreign exchange fluctuations in the current quarter. However, the company has started passing on the increase in cost to the end customers and are expecting the impact of commodity price should subside in coming quarters.

The Government of India has been laying great emphasis on Infrastructure development, Housing and Mining. The Gati Shakti Master plan announced by Government of India will give a tremendous boost to our industry.

A positive momentum in the Defense, Exports & Overseas business has laid a strong foundation for sustainable growth in the future.

We are entering into the second half of the year with a strong orderbook of 2842crs, inclusive of new order from Coal India Ltd to the tune of 1471crs."

He also added " Despite of risk associated with rising commodity prices and likely covid third wave, the half yearly results have given us confidence to revise earlier annual growth guidance from 30% to 40%."

Result PDF

Midhani has secured an order of Rs. 121.75 crore

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Aeroflex Industries Board has approved a ₹97.56 crore expansion plan

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As per media sources, HDFC Bank has raised a $1 billion three-year overseas loan from its GIFT City branch

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TCS, on its Investor Day 2025, articulated a clear shift towards an AI-first enterprise

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Syrma SGS Technology has completed the first tranche of its acquisition of defence and aerospace electronics firm Elcome Integrated Systems

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POWERGRID has commissioned the Western Region Expansion Scheme-XXV

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