Q3 2026 Solar Industries India Ltd Earnings Call Transcript
Key Points
- Solar Industries India Ltd (BOM:532725) reported its strongest quarter to date with a 29% year-on-year increase in net revenue, reaching INR2,548 crores.
- The company achieved its highest ever quarterly EBITDA and profit after tax, with growth rates of 37% and 38% year-on-year, respectively.
- International business revenue crossed INR1,000 crores, marking a significant 35% year-on-year increase.
- The defense sector showed remarkable growth, with revenue increasing by 72% to over INR700 crores, contributing to a record-breaking defense order book of INR18,000 crores.
- Solar Industries India Ltd (BOM:532725) is expanding its global and local manufacturing footprint, with new facilities in Dhule, Maharashtra, and Dholpur, Rajasthan, enhancing its position in the mining and infrastructure sectors.
- The company faces challenges in ramping up defense production, as defense projects typically take longer to develop and execute.
- There are concerns about potential delays in the execution of the Pinaka rocket project, although management is confident of starting deliveries in Q4.
- The domestic non-defense business experienced a slowdown due to heavy monsoon and economic factors, impacting growth in the first nine months.
- Currency availability issues and entry restrictions in African markets pose challenges for international sales.
- The company is cautious about providing specific guidance on future defense and international orders, indicating potential uncertainties in these segments.
Ladies and gentlemen, good day, and welcome to the Solar Industries Limited Q3 FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Jyoti Gupta from Nirmal Bang Equities. Thank you, and over to you, ma'am.
Good morning, everyone. On behalf of Nirmal Bang Institutional Equities, I welcome you all to the quarter three FY26 earnings conference call with the management of Solar Industries Limited. The management is represented by Mr. Manish Nuwal, MD and CEO, Mr. Moneesh Agarwal, Joint CFO; Ms. Shalinee Mandhana, Joint CFO; Ms. Aanchal Kewlani, SRM and IRM.
Without further delay, I would now request Manish sir to start with his opening remarks, after which, we can open the floor for question and answers. Thank you, and over to you, sir.
Thank you, Jyoti. A very good morning to our
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