Q3FY18 Result: Solar Industries posts 13 per cent hike in PAT

Explosives manufacturer Solar Industries posted a hike of 10.48 per cent in its revenue to Rs. 465.68 crore on a yearly basis for the third quarter of the fiscal year 2018. Following the development, the stock price of company surged by nearly 2 per cent in intraday trade on Thursday.

The company’s EBITDA grew by 31.22 per cent to Rs. 106.93 crore in the corresponding quarter of FY18 on a yearly basis. Its PBT saw a surge of 26.56 per cent to Rs. 82.58 crore and the PAT grew by 13.83 per cent to Rs. 54.15 crore in the third quarter of the fiscal year 2018 on a yearly basis.

The company has 25 manufacturing units in India and has a strong presence in over 42 countries along with several manufacturing facilities in over 5 countries. The company has an integrated facility for defence to produce propellants, war heads and rockets. The company has an order book worth Rs. 1,306 crore as of the third quarter of FY18.

On Thursday, the stock hit an intraday high of Rs. 1060 per share, higher by 1.48 per cent and an intraday low of Rs. 1034 per share on BSE. At 11:42 hours IST, the stock was trading at Rs. 1,050.35 per share, higher by 0.56 per cent on BSE.