Invest
27 Years
4.4 Star
1 Crore +
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.”
FAQ’s on Solar Industries India Ltd Shares
