Solar Industries India Ltd share Price Today

Solar Industries (SIL) is the largest manufacturer of industrial explosives and explosive initiating systems in India.

• It has a capacity of ~330,000 MT/year. It holds reasonable market share in India of ~30%
• It also leads the exports share from India, which is around 70% in industrial explosive and initiating system
• It exports to 55 countries in the world and has recently expanded its manufacturing base to many African countries

Strong YoY growth in exports and realisations in domestic explosives; sequentially exports growth remained muted.

• Revenue came in at ₹ 1811.8 crore, up 78.0% YoY & 15.6% QoQ
• EBIDTA margins came in at 19.3% (+181 bps YoY; flat QoQ). EBIDTA came in at ₹ 349.5 crore, up 96.4% YoY & 16.9% QoQ
• PAT was at ₹ 219.4 crore; up 108.9% YoY & 16.3% QoQ

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.”

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