| – | Explosives contribute 48% of the revenue and exports contribute 40% of the revenue. |
|---|---|
| – | Explosives segment by volume saw a 17% YOY growth in Q3 & 13% YOY growth in 9M. |
| – | Explosives segment by price saw a 46% YOY growth in Q3 & 63% YOY growth in 9M. |
| – | Explosives segment by value saw a 71% YOY growth in Q3 & 85% YOY growth in 9M. |
| – | Initiating systems saw a 32% YOY growth in Q3 and 33% YOY growth in 9M. |
| – | Most of the sales comes from Coal India (CIL) (17%). Exports are around 40%. Defence sector takes up about 6% of the sales. Housing & Infra segment contributes 17% to sales. Non-CIL customers from coal segment are showing demand. Overseas subsidiaries are also seeing increased demand. |
| – | Order book is at 3389 crores. Defence sector is 817 crores & 2572 is from Coal India and Singareni Coal. |
| – | Market share of 30% in India. |
| – | In exports of Industrial explosives and initiating systems, 70% share is of Solar Inds |
| – | Exports to about 55 countries and recently expanded its manufacturing base to African countries. |
| – | Gross margins have reduced due to high input costs. Explosives realizations were also quite flattish. |
| – | The company has increased its revenue growth guidance to 65%+ for FY23E (previous guidance was 45-50% growth). |
| – | Volume Growth guidance is 15-17%. In exports, volume growth will be seen around 15-20%. |
| – | EBITDA margins expected to be 18-20%. PAT margins around 11%. |
| – | Domestic explosive realizations will remain flattish and will pick up after 2 quarters. |
| – | Exports revenue is expected to increase and EBITDA margins will be between 18-21%. |
| – | The company expects the next contract from Coal India by October 2023 and from Singareni Coal by April 2024. Till then, existing contracts in hand will be executed |
| – | Space Applications of their products is also in the testing phase. |
| – | Capex for the next two years is also expected to be |
| – | Commercial production at Australia facility is expected to start by Q1FY24. Indonesian unit is already started partially and is expected to start fully by Q1FY24 |
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