Solar continues its value building journey


By Vivek K. Mobile: 09920183006

Highlights of Q4 FY18 Performance

  • Reports highest ever Sales in the quarter

  • Sales growth of 30% over the year-ago period.

  • The EBITDA in Q4FY18 is up by 27%

  • Q4 PBT up by 27%.

  • Q4 Net Profit after minority interest rose 20 %


Financial Highlights of FY18

  • Declares Dividend of 300% or Rs 6/share.

  • Revenue increased by 21% YoY .

  • EBIDTA jumped by 26%.

  • PBT rose by 25%.

  • Net profit after minority interest increased by 18% .

  • Capital Expenditure for FY18 stood at Rs. 215 crore.

Management comment:

Commenting on the results, Mr. Manish Nuwal, Managing Director and CEO, Solar Industries said, “We continue to have a positive outlook on our business because of increased focus on road construction activities across the country.  Our overseas and exports delivered a stellar performance as we recorded a growth of 53% during the year. Continued emphasis on defence manufacturing will further empower us to achieve our targets comfortably by 2020.”

Mr. Nuwal added further added that the company has participated in three out of seven RFP’s floated by Government for a period of ten years. The present defence order book is to the tune of Rs.255 crores.


Business Update:

Order book stands at Rs.1092 crore (including Defence)


  • During the year, with the increase mining activities in India, demand for explosives will increase.

  • Increased focus on highways, housing and infrastructural developments has accelerated demand for explosives.

  • The government is now targeting construction of 45 kms of road each day vis-à-vis 27 km of roads in the previous financial year, thereby further boosting the demand for explosives.



  • Commercial production has started in South Africa besides existing facilities in Nigeria, Zambia and Turkey.

  • SIIL currently has a manufacturing base in 5 countries and its products are consumed in 51 countries.

  • SIIL is working to expand its facilities in 10 countries including Australia & Ghana by 2020.



  • SIIL has participated RFP’s floated by Government of India for 3 types of Ammunition items for which the technical bid is ongoing.

  • Recently, ToT for mass production of a crucial solid propellant booster of Brahmos missile was given to Economic Explosives Limited, a wholly owned subsidiary of Solar Industries.

  • Current order book from the Defence Ministry is Rs.255 crore.


Future Outlook


SIIL anticipates a turnover growth of 25% in FY19 over the previous financial year. The growth will come from all the verticals being Domestic, Overseas and Defence sector. The company plans to do a CAPEX of Rs.300 crores during Financial Year 2019.


About Solar Industries India Ltd.

  • India’s largest explosives and initiating systems manufacturer & exporter.

  • World’s largest packaged explosives manufacturing facility at a single location in Nagpur, India.

  • Pan India presence with 25 manufacturing facilities.

  • Global footprint in more than 51 nations with manufacturing facilities in 5 countries.

  • India’s first domestic private supplier of HMX & HMX compound products to the Defence sector.

  • First private company in India to setup an integrated facility for Defence to produce propellants, warheads & rockets

  • Secured Transfer of Technology (TOT) agreement from Government of India for manufacturing propellant booster for brahmos missile.


Solar Industries was founded in 1995 by its founder Chairman Shri Satyanarayan Nandlal Nuwal to produce cartridge explosives. The company has grown to become India’s largest manufacturer of Industrial explosives and Explosive initiating systems. The group is now spreading its presence in Global Markets.

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 & infrastructure companies including global names such as Coal India Limited, Singareni Collieries, Vedanta Ltd, and many more in global market.

Solar’s manufacturing facilities span 25 locations across India along with 4 manufacturing units overseas.

Solar is driven to meet its customer expectations by providing blasting solutions that align with each company’s requirements. Solar continually pursues improvement in quality and safety by holding internal benchmarks even higher than its customer’s own expectations and by operating as if it were its own competition. This, in turn, drives process improvement, system innovations, and employee advancements.

Manish Nuwal

Managing Director & CEO.

For more information on the release, please contact:

Mr. Nilesh Panpaliya

Solar Industries India Ltd.

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