Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

Solar Industries India Ltd. Q3FY17 Net Profit at Rs. 47.52 crores, Y-o-Y growth 14.45%

Posted On: 2017-02-16 21:49:20

For the Quarter ended December 31, 2016:

- Gross sales rose by 12.32% YoY to Rs. 463.53 crore in Q3FY17 from Rs. 412.68 crore in Q3FY16.
- Sales to Coal sector increased by 35% from ?137.39Crs in Q3FY16 to ?185.28Crs in Q3FY17.
- The EBITDA in Q3FY17 is Rs. 81.49 crore. EBIDTA % stands at 18.92% in Q3FY17 as compared to 20.84% in Q3FY16
- Net profit after minority tax is at Rs. 47.52 crore for Q3FY17. Net profit % stands at 11.03 % in Q3FY17 as compared to 10.91% in Q3FY16.

For the Nine months ended December 31, 2016:

- Gross sales increased by 7.62% YoY to Rs. 1272.65 crore in 9MFY17 from Rs. 1182.56 crore of 9MFY16
- EBITDA rose by 6.47 % YoY to Rs. 240.82 crore in 9MFY17 from Rs. 226.19 crore in 9MFY16. EBIDTA % stands at 20.40 % in 9MFY17 as compared to 20.68% in 9MFY16
- Net profit after minority tax jumped by 9.30 % to Rs. 131.47 crore for 9MFY17 from 120.28 crore in 9MFY16. Net profit % stands at 11.14% in 9MFY17 as compared to 11% in 9MFY16.

Solar Industries India Ltd., the largest manufacturer, suppliers and exporters of commercial Explosives and Explosive Accessories in India, has declared its financial results for the quarter ended December 31, 2016.

Commenting on the financial performance of the company Mr. Manish Nuwal, Managing Director & CEO, Solar Industries India Limited said, "We delivered satisfactory results. There was a growth of 12.32% when we compare it on YoY basis. However, on QoQ basis the growth is 33% which shows a significant recovery. This growth came in spite of demonetization and translational losses, which is due to devaluation in foreign currency.

We have taken effective steps to mitigate the losses arising from weakening of currency. As a result, the effect of translational losses will get minimized by Q4FY17. Operations in South Africa will commence from Q1FY18. It will take about three months for our product to get stabilized and get recognition within the local market.

As we said earlier, we are expecting further orders from defence. I am happy to announce that our current order book stands at Rs. 102.81 crores executable over FY18 against the previous Rs. 72.81 Crores. The company has participated in many RFI's and more orders are expected to come in future. Our supply chain to defence sector is now getting streamlined, as a result we have made a sale of Rs. 6.35 crores in Q3FY17 and expect to cross 12 Cr in Q4 17.

We continue to build on our core strengths to accelerate business growth and seek new vistas of opportunities to deliver on our stakeholder commitments."

Shares of SOLAR INDUSTRIES INDIA LTD. was last trading in BSE at Rs.732 as compared to the previous close of Rs. 724.35. The total number of shares traded during the day was 1736 in over 199 trades.

The stock hit an intraday high of Rs. 740.5 and intraday low of 700. The net turnover during the day was Rs. 1262418.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Zensar to showcase Store of the Future at ShopTalk 2018
Mahindra Renewables achieves financial closure for 250 MW Solar Power Project in Rewa Madhya Pradesh with YES BANK
Cyient has been placed in the winner's circle of the HfS Aerospace Engineering Services Blueprint 2017
Sonata announces significant functionality addition to its enterprise mobility product Halosys™
Raffles Health Insurance, Singapore Selects Majesco's Health Core Platform
Zensar and Microsoft extend Strategic Partnership in South Africa
MMTC Ltd approves 1:2 bonus issue
Loyal Textile Mills Ltd announces resignation of CEO
Datamatics Global Services Ltd to consider interim dividend for FY 2017-18
Varun Beverages Ltd updates on change in Directors
RBI approves increase in RFPI limit of Future Retail Ltd to 49%
Sacheta Metals Ltd announces resignation of Mr. Kalyan C Shah
Arfin India Ltd bags Calcium and Ferro Boron Management at JSW Steel Plant, Dolvi
Fortis Healthcare Ltd announces resignation of Dr. Preetinder Singh Joshi
SBI takes possession of premises owned by PAE Ltd
Indian Oil Corporation Ltd announces cessation of Dr.B.Mahadevan as Director
Saven Technologies Ltd to consider allotment of fresh shares
Elpro International Ltd to sell stake in PNB Metlife
Prism Cement Ltd's JV completes expansion project
City Union Bank opens 7 new branches on Mar 19, 2018
KIOCL Ltd Board declares Interim Dividend of Rs. 0.27 for 2017-18
Zandu Realty Ltd announces resignation of company secretary
United Drilling Tools Ltd announces cessation of Director
Gujarat State Petronet Ltd to aquire 3,91,06,328 shares of Gujarat Gas Ltd
Elantas Beck India Ltd receives two licenses for MTO & Solvent Naphtha
Shalimar Paints Ltd to approve rights issue letter of offer
Sparkling India Finshares Ltd appoints company secretary
CARE assigns ratings to Nila Infrastructures Ltd
TCS Recognized as a Leader in Cloud Enablement Services by Everest Group
IFCI gets favorable verdict in sale of assets of Blue Coast Hotels Limited for recovery of dues
Newgen Software recognized as a 'Leader' in Dynamic Case Management, Digital Process Automation and ECM by top Independent Research Firm
BGR Energy Systems Ltd secures new order from TANTRANSCO
Granules India Limited receives approval from US FDA for ANDA
Seamec Ltd settles dispute with SEAHORSE and PMS, Egypt
Seamec Ltd gets favorable consideration from CESTAT
Premier Pipes Ltd adjourns board meeting
Capacite Infraprojects Ltd receives order of Rs. 256.58 crores
Sheela Foam Limited receives Silver Medal
Setback for Blue Coast hotels Ltd in Goa Hotel case
AXIS Bank to give 6% interest for SB accounts with balance of Rs. 10 crore and above
Yogya Enterprises Ltd appoints additional director
Ultratech Cement Ltd to provide funds to Binani Industries Ltd to come out of NCLT
R S Software India Ltd approves further investment in Paypermint Pvt Ltd
Dolphin Offshore Enterprises India Ltd announces appointment to committees
Vivimed Labs Ltd to consider preferential issue on Mar 22, 2018
Gala Global Products Ltd approves issue of bonus shares
Devhari Exports India Ltd approves shifting of registered office
CARE reviews ratings of Orient Cement Ltd
GHCL Limited to launch new bedding product brand Rekoop
Tata Power - launches IoT based Automated Meter Infrastructure enabled by Tata Communications

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018