Solar Industries India Limited — Updates, 13-11-2024: Press Release

Solar Industries India Limited reported a strong financial performance for Q2FY25 and HYFY25, with net profit reaching ₹304 crore, a 45% increase year-on-year, and half-year profit at ₹604 crore, up 47%. The company achieved record EBITDA of ₹475 crore for Q2, reflective of a 27% revenue growth, alongside an impressive defense revenue surge exceeding ₹300 crore.

The order book now stands at over ₹5,700 crore, bolstered by a recent two-year contract worth ₹887 crore from Singereni Collieries and defense orders amounting to ₹111 crore. Management is optimistic, projecting defense product sales to reach ₹1,500 crore, constituting about 20% of total sales for FY25. Reflecting its growth strategy, the company has revised its FY25 capex guidance from ₹800 crore to ₹1,200 crore, underscoring its commitment to expanding operations despite recent market headwinds. Stakeholders should monitor these developments closely as they hint at significant growth opportunities.