Categories Earnings, Industrials, Research Summary

Solar Industries India Limited Q3FY23 Earnings Summary

One of the top producers of bulk explosives, packaged explosives, and initiating systems, which are used in the mining, infrastructure, and construction sectors, is Solar Industries. In 2010, SIL also entered the defence industry and expanded its product line to include warheads, warhead explosives, and rocket and missile propellants.

Financial Results:

Consolidated profit after tax (PAT) stood at ₹ 219.42 crores in Q3FY23, reporting a growth of 78% from ₹ 105.06 crores reported in Q3FY22.

On the backdrop of strong performance by our International & Institutional businesses, the revenue for the quarter stands at Rs.1812 cr up by 78% yoy & nine-month revenue stands at Rs.4994 cr up by 90% yoy and the net profit is up by 109% yoy for the quarter & 110% yoy for nine months, which stands at Rs. 219 cr. and Rs. 591 cr respectively.

– Mr. Manish Nuwal, MD & CEO

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