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Revenue surged 38% to ₹1,973 crore, compared with ₹1,429 crore in the same period last year. EBITDA rose 48% to ₹527 crore, from ₹355.3 crore a year ago, while margins expanded to 26.7% from 25%.
Despite the upbeat results, shares of Solar Industries, a leading producer of industrial explosives and explosive initiating devices, were trading 1.1% lower today at ₹9,640 on the BSE.
The company’s profit before tax (PBT) climbed 53% to ₹458 crore, compared with ₹300 crore a year earlier. Meanwhile, profit after tax (PAT) stood at ₹338 crore during the quarter, compared with ₹222 crore in the earlier year.
Solar Industries’ order book, including contracts from Coal India Ltd (CIL), Singareni Collieries Co Ltd (SCCL), and the defense sector, stood at ₹7,122 crore.The revenue from Defence sector came in at over ₹400 crore for the current quarter.
Manish Nuwal, the CEO of Solar Industries, addressed dynamic market Solar Industries operates in, emphasising the short-term impact and long-term intact nature of its core business. “While domestic demand has been subdued due to the general and 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 758cr in revenue.”
Solar’s defence business quarterly performance picked up during the quarter, reporting a growth of 570% YoY to 409 crore. “On this backdrop company has signed an MOU with Government of Maharashtra for investing 12700cr in next 10 years to establish an Anchor Mega Project,” Nuwal said.
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First Published: Feb 5, 2025 3:19 PM IS
