MD & CEO Manish Nuwal said that the mining industry faced sluggish demand during the quarter due to heavy and prolonged monsoons, the demand for explosives from this sector was impacted.
For the first half of the financial year, Solar Industries reported revenue of ₹900 crore for the Defence business, reflecting a growth of 57% from last year, and nearly one-third of the company’s full year guidance of ₹3,000 crore.
During the September quarter, Solar Industries reported a 20.6% growth in its net profit to ₹345 crore from ₹286 crore last year.
Revenue for the quarter increased by 21.4% on a year-on-year basis to ₹2,082 crore. For the first half, Solar Industries’ topline is at ₹4,237 crore, which is 42% of its full-year guidance of ₹10,000 crore, and 25% higher compared to the same period last year.
Solar Industries’ International business grew by 21% from last year to ₹960 crore, which is the highest ever that the company has registered in a quarter. The growth was led by the company’s strategic focus on penetrating new markets globally.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of 24.3% from last year to ₹553.2 crore, while margins expanded by 60 basis points from last year to 26.6% from 26%.
Shares of Solar Industries are trading 1.6% lower on Monday after the results announcement to ₹13,380. The stock is up 35% so far in 2025.