Q3 2024 Solar Industries India Ltd Earnings Call Transcript

Feb 08, 2024 / 05:30AM GMT

Release Date Price: ₹6913.3 (+0.11%)

Transcript

Key Points

Positve

Solar Industries India Ltd (BOM:532725) achieved its highest ever nine-month EBITDA at INR1,042 crores and PAT at INR633 crores.
The company recorded a significant volume growth of 27% in the quarter and 18% over nine months.
The defense order book stands at a robust INR2,200 crores, with expectations of substantial revenue increase from defense products in the next quarter.
The company has received export orders for defense products worth INR994 crores, to be supplied over the next two to three years.
Solar Industries India Ltd (BOM:532725) is expanding into new geographies like Kazakhstan and Saudi Arabia, which are expected to contribute to revenue from the next financial year.

Negative

International business was impacted by higher inflation and currency volatility, which are expected to stabilize over the next one or two quarters.
Revenue from Coal India and other domestic customers saw a decline compared to the previous year.
The company faced disturbances in shipments due to issues in the Red Sea, affecting overall performance.
There was a significant drop in revenue from defense in the quarter, from INR110 crores to INR62 crores.
The company experienced a fire incident resulting in a financial loss of around INR2 crores, which will be claimed from insurance.

Operator

Ladies and gentlemen, good day and welcome to the Solar Industries India Q2 FY24 earnings conference call hosted by Centrum Broking Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Chirag Muchhala from Centrum Broking Limited. Thank you, and over to you, sir.

Chirag Muchhala

Centrum Broking Ltd - Moderator

Thanks, Viren. Centrum Broking welcomes you all to the Q3 FY24 results conference call of Solar Industries India Limited. The management is represented by Mr. Manish Nuwal, Managing Director and CEO; Mr. Suresh Menon, Executive Director; Mr. Milind Deshmukh, Executive Director; Mr. Moneesh Agrawal, Joint CFO; and Ms. Shalinee Mandhana, Joint CFO.

I now hand over the call to the management for their opening remarks, post which we can take questions from participants. Over to you, sir.

Shalinee Mandhana

Solar Industries India Ltd - Joint Chief Financial Officer

Thank you, Chirag. Good morning, dear valued investors and

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