Solar Industries maintains the growth outlook at 20% plus for the FY 2020.
Solar Industries India Limited today announced its unaudited financial results for the quarter ended December 31, 2018.
|Key Highlights of the Year 2018-19
• Revenue growth of 29% for the year
• EBITDA grew by 22 % for the year
• Underlying Profit up by 19 % over previous year
Key Highlights of the Quarter
Note :There is an exceptional item of 6.05 Crs (after PBT) that is written-off in this qtr.
A snapshot of the financial results:
Consolidated Results Snapshot :FY19 Vs FY18
- Net Revenue- Rs. 2462 Crs vs Rs.1916 Crs up by 29%
- EBITDA- Rs. 517 Crs vs Rs. 424 Crs up by 22%
- PBT (before exceptions)- Rs. 408 Crs vs Rs. 340 Crs up by 20%
- Reported Net Profit- Rs. 277 Crs vs Rs. 234 Crs up by 19%
Commenting on the results, Manish Nuwal, Managing Director & CEO, Solar Industries India Limited said that, “We delivered robust performance in 2018-19 backed by strong revenue growth across all our business segments despite challenging global business environment.”
During the year in domestic business Solar Industries witnessed strong demand from infrastructure segment particularly road construction. However, the demand from Coal Mining sector was quite subdued due to lower overburdened growth. The company is expecting improved demand in 2019-20.
The export and overseas business witnessed a growth of 20%, despite of the fact that some of the key units continued to witness challenging business conditions. Nonetheless, The company is confident of keeping this momentum in FY 2020.
A consistent increase in revenue from defence products quarter-on-quarter shows a strong growth. This year the turnover from defence products sale has reached 170 Crs showing a growth of robust 358 %. With the present order book of 396 Crs and orders in pipeline we expect a significant turnover of around 300 Crs in 2019-20.
Going with the 30% pay out policy the Solar Board has recommended a dividend of Rs.7 per share.