Solar Industries India boosts on new order

Solar Industries India has bagged an order from Singareni Collieries Company Limited (SCCL) for the supply of 163911.20 million tonnes (MT) of explosives worth Rs 443.44 crore for FY17 and FY18. Before that the company had only Rs 80 crore orders as of March 2016.

On financial front, Solar Industries India’s revenue has increased by 13.78 per cent to Rs 1538 crore in FY16 as compared to previous financial year. The company’s EBITDA too has risen by 15.52 per cent to Rs 294 crore in FY16 on a yearly basis. Its net profit also has increased by 12.71 per cent to Rs 166 crore in FY16 as compared to previous fiscal year. 

The share price of Solar Industries India has increased by 7.04 per cent on bourses after getting an order from SCCL, on an intraday basis. The share price of the company is trading at current PE multiple of 35.02x times. Its current EPS stands at Rs 91.8 and book value of Rs 520.51.

Solar Industries India manufactures, supplies and exports commercial explosives and explosive accessories in India. The company is a manufacturer and exporter of civilian explosives, detonators and detonating cord. It offers products that are used across mining and infrastructure segments. Solar Industries India has approximately 25 manufacturing facilities, spread over 10 states in India and three overseas units- in Zambia, Nigeria and Turkey.