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
Conference Call with Solar Industries India Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
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