Commenting on the results, Mr Manish Nuwal, Managing Director and CEO, Solar Industries said, "We recorded the highest ever revenue and PAT in the quarter. The results are in line with the annual guidance of rise in revenue by 25 per cent."
With various initiatives from the Government of India on infrastructure we have witnessed a strong demand for explosives from this sector. Our overseas and exports have shown a significant growth during the quarter. The revenue from defence sector is 28 crores which is in line with our expectations and with defence order book of 246 crores as on 30th June 2018, we are confident on achieving the targeted revenue of 200 Crore in the current financial year.
Solar, headquartered at Nagpur, offers high-quality products and services that are backed by stringent safety standards, a world class infrastructure and a proven quality management system. Solar Industries supports major mining ft infrastructure companies including global names such as Coal India Limited, Singareni Collieries, Vedanta Ltd, and many more in global market.
Highlights of Q1FY19 Performance:
Reports highest ever Revenue in the Quarter.
Sales growth of 32 per cent over the year-ago period.
The EBITDA in Q1FY19 is up by 30 per cent.
Q1 FY19 PBT up by 28 per cent.
Reports highest ever PAT after minority in the quarter.
Q1FY19 Net Profit after minority interest rose 27 per cent.
Defence sales for the quarter is 28 crores.
