FY17 revenue to grow 25% on back of defence orders

•Solar Ind.s witnessed a revenue gain of 20 % to Rs 384.8 cr and the net profit increased by 14 % to Rs 41 cr on a year-on-year basis. Out of this, the Coal India’s contribution is roughly around 24 %. The prices have been under pressure in Coal India because of competition.

• Export and overseas turnover contributed around Rs 126.44 cr compared to Rs 76.92 cr in Q3 FY15; saw a significant growth of almost 64 %.

• Under the present economic scenario, increase in our efficiencies led to increase in the margins along with a good season in exports.

• In last quarter, we had a volume of almost 49,000 tonnes for bulk explosives compared to 32,000 tonnes which is a growth of almost 30 %. The cartridge explosives, which are mostly consumed in the infrastructure and housing construction segment, has not seen any growth, the volume has grown by just 1 %.

• The company has a defence order worth Rs 72 crore which will reflect on the books next fiscal and is expected to drive the revenue for FY17 up by 25 %.

• Including export our total order book will be as close as Rs 700 crore.

• Presently our company has market share of almost around 25 % in case of bulk explosives. Our competitors closed to us are Indian Explosives Limited who are closed to around 12 -13 %, Indian Oil Corporation (IOC) which is again having 10-12 % are the other two Big players.