Solar Industries Q1 Review - Strong Earnings Momentum Continues: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Solar Industries India Ltd. reported handsome numbers in Q1 FY23. Revenue for the quarter came in at Rs 1615.9 crore, up 95.8% YoY and 22.7% QoQ. Volume growth can be seen in explosives YoY, volumes rose 12.8% YoY and dipped 3.9% QoQ, whereas realisations jumped 96.8% YoY and 4.6% QoQ. Accessories segment registered an improvement of 19.8% YoY to Rs 115 crore. Defence segment revenue came in at Rs 64.3 crore, up 36.9% YoY and dipped 11.5% QoQ. Overseas and exports segment revenue came in at Rs 593.2 crore, up 90.2% YoY and 74.7% QoQ. Solar Industries' gross margins expanded~ 40 bps YoY and expanded 550 bps QoQ (gross margins expanded QoQ due to higher reliasation). Ebitda margins dipped QoQ and YoY and came in at 17.5% versus 20% in Q4 FY22 (Ebita margins dipped QoQ due higher other expenses). .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Solar Industries Q1 Review - Strong Earnings Momentum Continues: ICICI Direct

Solar Industries Q1 Review - Strong Earnings Momentum Continues: ICICI Direct

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