Solar Industries shares rise 5% on highest PAT, EBITDA in Q2 

Shares of Solar Industries rose 5% on Tuesday after the explosives maker reported its highest ever quarterly EBITDA and profit after tax (PAT) of Rs 582 crore and Rs 361.45 crore, respectively. The stock rose 5.01% to Rs 14,080 on Tuesday against the previous close of Rs 13,407. Market cap of the explosives firm rose to Rs 1.24 lakh crore. Total 0.12 lakh shares of the firm changed hands amounting to a turnover of Rs 16.64 crore. The stock had a beta of 0.9 in the last one year, indicating low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Solar Industries India stands at 37.9, signaling the stock is trading neither in the overbought nor in the oversold zone.

Solar Industries India shares are trading lower than the 10 day, 20 day, 50 day, 100 day, 150 day but higher than the 200 day moving averages.

Net profit rose 19% to Rs 361.45 crore in Q2 against Rs 303.78 crore in the year ago period. Revenue climbed 21.35% to Rs 2082.22 crore in the last quarter against Rs 1,715.83 crore in the corresponding quarter of the previous fiscal. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose 22.5% to Rs 581.97 crore from Rs 475.22 crore in Q2 of the previous fiscal. EBITDA margin improved to 27.95% in Q2 from 27.70% in the previous year's Q2.

Solar Industries is an India-based manufacturer of industrial explosives for the mining and infrastructure sector. The company offers industrial explosives and defence products.