Conference Call with Solar Industries India Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
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
Conference Call with Solar Industries India Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
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