Nagpur, February 5, 2025 – Solar Industries India Limited (NSE: SOLARINDS, BSE: 532725) announced its unaudited financial results for the third quarter (Q3 FY25) and nine months ended December 31, 2024, demonstrating robust growth in revenue and profitability.
Key Financial Highlights (Consolidated)
| (₹ Crore) | Q3 FY25 | Q3 FY24 | YoY Growth | 9M FY25 | 9M FY24 | YoY Growth |
|---|
| Revenue from Operations | 1,973.94 | 1,429.14 | 38.2% | 5,437.74 | 4,171.75 | 30.4% |
| Total Income | 1,982.62 | 1,439.34 | 37.7% | 5,483.97 | 4,195.89 | 30.7% |
| EBITDA | 534.71 | 399.55 | 33.9% | 1,542.17 | 1,146.78 | 34.5% |
| Profit Before Tax (PBT) | 459.11 | 426.49 | 7.7% | 1,274.37 | 941.82 | 35.3% |
| Net Profit | 337.50 | 298.93 | 12.9% | 904.54 | 718.81 | 25.9% |
| Earnings Per Share (EPS) (₹) | 34.80 | 22.47 | 54.9% | 92.38 | 65.90 | 40.2% |
Solar Industries delivered
a strong top-line performance with a
38.2% YoY growth in revenue for Q3 FY25, driven by increased demand across domestic and international markets. EBITDA margins improved to
27%, reflecting operational efficiencies and cost management.
Standalone Performance
| (₹ Crore) | Q3 FY25 | Q3 FY24 | YoY Growth | 9M FY25 | 9M FY24 | YoY Growth |
|---|
| Revenue from Operations | 1,207.24 | 902.25 | 33.8% | 3,157.32 | 2,715.85 | 16.2% |
| Total Income | 1,219.04 | 919.93 | 32.5% | 3,226.54 | 2,761.01 | 16.9% |
| Profit Before Tax (PBT) | 274.39 | 238.17 | 15.2% | 800.05 | 560.71 | 42.7% |
| Net Profit | 204.42 | 186.82 | 9.4% | 585.44 | 416.69 | 40.5% |
| Earnings Per Share (EPS) (₹) | 22.59 | 19.61 | 15.2% | 65.90 | 46.07 | 43.1% |
Standalone revenue growth stood at
33.8% YoY, with net profit rising by
9.4% YoY, backed by improved margins and a stable cost structure.
Segment-Wise Performance
- Explosives & Accessories: The company's primary business segment saw strong domestic and export demand, boosting revenue and margins.
- Defence & Aerospace: Continued government contracts and private sector investments supported steady growth in this segment.
Key Corporate Developments
- Debt Reduction: The company redeemed ₹23.75 crore worth of non-convertible debentures (NCDs) during the nine-month period.
- Hyperinflationary Accounting Adjustments: The company adjusted financials for subsidiaries in Turkey, Ghana, and Zimbabwe, in line with Ind AS 29.
Management Commentary
Manish Nuwal, Managing Director & CEO, stated:
"Solar Industries has delivered another strong quarter, driven by sustained demand across our business segments. Our focus on expanding into international markets and enhancing operational efficiencies continues to yield results. We remain committed to growth and innovation, particularly in the defence sector, where we see significant opportunities."
Strategic Outlook
- International Expansion: Increased exports and investments in overseas subsidiaries are expected to contribute significantly to revenue growth.
- Defence Growth: With increasing government spending on defence, Solar Industries is well-positioned to capitalize on emerging opportunities.
- Sustained Profitability: Focus on cost optimization, technology investments, and debt reduction will help maintain profitability.
Investor Takeaway
Solar Industries India Ltd. has reported
robust revenue growth and improved profitability, driven by
expanding domestic and global demand. With a
strong order pipeline, prudent financial management, and strategic expansion, the company remains
well-positioned for sustained long-term growth.
