Solar Industries sales growth up by 28% Q2FY19 in comparison Q2FY18
Highlights of Q2 FY19 Performance
· Sales growth of 28% when comparing Q2FY19 with Q2FY18.
· EBITDA growth of 23% when comparing Q2FY19 with Q2FY18.
· PBT growth of 19% when comparing Q2FY1 in 9 with Q2FY18.
· Net Profit after minority growth of 14% when comparing Q2FY19 with Q2FY18.
· Defence sales of Rs. 44Cr. in Q2FY19 as compared to Rs. 8Cr. in Q2FY18.
· Defence order book at Rs. 471Cr. as against Rs. 246Cr. during the previous quarter.
Highlights of HY19 Performance
· Sales growth of 30% when comparing_ 1HFY19 with 1HFY18.
· EBITDA growth of 27% when comparing 1HY19 with 1HFY18.
· PBT growth of 24% when comparing_ 1HFY19 with 1HFY18.
· Net Profit after minority growth of 21% when comparing 1HFY19 with 1HFY18.
· Defence sales of Rs. 72Cr. in 1HFY19 as compared to Rs. 9Cr. in 1HFY18.
· The total order book stands at Rs. 1530Cr. as against Rs. 1154Cr during the previous quarter.
Commenting on the results, Manish Nuwal, Managing Director, Solar Industries India Limited said “The first half of Financial Year 2018-19 showed a strong underlying performance. Overall, the results shows that the group is making steady progress and is well positioned to deliver targeted earnings growth. I am further pleased to inform that the revenue from defence sector is at Rs. 72Cr which is in-line with our expectations. Our present defence order book stands at Rs. 471Cr which will help the company to achieve revenue target of the Defence sector.
With the government’s increased focus on infrastructure & highways development, construction of nearly 6.28 lakh more houses under the Pradhan Mantri Awas Yojna along with continued emphasis on indigenous defence manufacturing are all positive indications that we are well placed and on the right path to achieve our growth targets. Company has participated in RFP’s floated by Government of India, for long term contracts of 10 Years. We have created the infrastructure to manufacture many of the ammunition items and are in process to create more. The price & technical Bids for the same are under evaluation”.
About Solar Industries India Ltd.
- World’s largest packaged explosives manufacturing facility at a single location in Nagpur, India.
- Pan India presence with 25 manufacturing facilities.
- Global footprint in more than 51 nations with manufacturing facilities in 5 countries.
- India’s first domestic private supplier of HMX & !-1MX compound products to the Defence sector.
- First private company in India to setup an integrated facility for Defence to produce High Energy Material, Propellants, Warheads & Rockets.
- Secured Transfer of Technology (TOT) agreement from Government of India for manufacturing propellant booster for Brahmos missile and Pinaka Rocket.