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ICICI Direct Report
Solar Industries India Ltd. reported a commendable Q2 FY21 performance led by strong performance in exports and overseas business as well as improved margins.
Order backlog improved sharply as Singareni Collieries Company Ltd. and defence order books got replenished.
Revenue for the quarter came in at Rs 587.3 crore, up 16% YoY.
Explosives volume increased 9% YoY to 69194 metric tonne while realisation dropped 6% YoY to Rs 32074.
Overall explosives segment posted a 3% rise in revenue to Rs 222 crore on the back of improved volumes.
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