Solar Industries India reported 57.6% growth in revenue, stock narrows over 3%

31 Jan 2022 , 12:04 PM

Solar Industries India Ltd. announced its results for the quarter ending December 2021, and despite robust growth in revenue and profits, its stock struggled to strike a new high in Monday morning trade. It was last seen at RS 2,337.30, down by Rs 89.15 or 3.77% against its previous closing price of Rs 2,426.45. It’s intraday high and low remain at Rs 2,567.70 and Rs 2,290.05 respectively, so far in today’s trade.

The company reported net sales of Rs 1,017.87 crore for Q3 FY’22 against Rs 645.85 crore for the previous corresponding quarter, reflecting a growth of 57.6% YoY.

Solar Ind’s profit stood at Rs 102.09 crore for the December 2021 quarter against Rs 78.04 for the December 2020 quarter, reflecting a growth of 30.82% YoY.

Its EBITDA stood at Rs 185.04 crores for Q3 FY’22 against Rs 145.47 crores, registering a growth of 27.20% YoY.

Solar Industries India Ltd. is an integrated global player dealing in explosives and was originally established in 1995. The company has also entered into Defence and set up one of the world’s most integrated facilities for Ammunition.