SOLARINDS2023-10-012023-12-31 SOLARINDS2023-10-012023-12-31 SOLARINDS2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member SOLARINDS2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member SOLARINDS2023-12-31 SOLARINDS2023-10-012023-12-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member SOLARINDS2023-10-012023-12-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532725 SOLARINDS NOTLISTED Solar Industries India Limited Equity 2023-04-01 2024-03-31 2024-02-07 2024-01-31 INR Crores Third quarter 13:15:00 14:05:00 2024-02-07 2024-02-07 Not applicable Single segment Manufacturing of Explosives and its Accessories 2023-10-01 2023-12-31 Unaudited Consolidated 14291400000.00 109100000.00 14400500000.00 6345000000.00 1298900000.00 -127600000.00 1114800000.00 282900000.00 386000000.00 2097900000.00 11397900000.00 3002600000.00 0.00 3002600000.00 843400000.00 -73500000.00 769900000.00 -13300000.00 2219400000.00 0.00 0.00 0.00 0.00 2219400000.00 -551000000.00 1668400000.00 2033300000.00 186100000.00 1648600000.00 19800000.00 181000000.00 2 22.47 22.47 0.00 0.00 22.47 22.47 0.00 0.04 The Unaudited Consolidated Financial Results for the quarter and nine months ended December 31, 2023 of SOLAR INDUSTRIES INDIA LIMITED (the Group ) have been reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors at their respective meetings held on February 07, 2024. The Statutory Auditors of the Company have carried out a limited review of the aforesaid results. These results have been prepared in accordance with the Indian Accounting Standard (referred to as “Ind AS”) 34 - Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules as amended from time to time. The Group has identified 'Explosives and its Accessories', as its only reportable segment as defined under Ind AS 108 - Operating Segments. During the quarter ended December 31, 2023, the Company has partially redeemed 50 debentures of Rs. 10,00,000/- each amounting to Rs. 10 crore on December 22, 2023 and made an interest payment amounting to Rs. 0.92 Crores at a coupon rate of 8.20% per annum. The Group has applied Ind AS 29 - 'Accounting of Hyperinflationary economies' on its step-down subsidiaries in Turkey. Turkish Lira is functional currency of the aforesaid subsidiaries in Turkey. In preparing the consolidated financial results for the period ended December 31, 2023, the non-monetary assets, liabilities, owner's equity and statement of profit and loss of the aforesaid subsidiaries have been restated to the measuring unit current as on the reporting date by applying consumer price index of the Turkish economy. The net impact of the aforesaid restatement amounting to Rs. 62.15 crore has been debited to other expenses for the period ended December 31, 2023. The impact of said restatements till March 31, 2023 in respect of the aforesaid subsidiary amounting to Rs. 31.51 crore has been credited in the opening retained earnings as at April 01, 2023. During the quarter ended December 31, 2023 the Group has acquired, Power Blast LLP, Kazakhstan (a step down overseas subsidiary) through its another stepdown overseas subsidiary i.e. Solar Nitro Kazakhstan Limited. The said LLP has not yet commenced its business operations. During the quarter ended December 31, 2023 the Group has incorporated, Solar Nitro (SL) Limited, Sierra Leone (a step down overseas subsidiary) through its another stepdown overseas subsidiary i.e. Solar Overseas Singapore Pte. Limited on November 07, 2023. The said Company has not yet commenced its business operation. During the quarter under review, pursuant to the Business Acquisition Agreement dated April 10, 2023 (‘BAA’) entered between Emul Tek Private Limited, a wholly-owned subsidiary of the Company, ('ETPL'), Rajasthan Explosives and Chemicals Limited ('RECL') and its shareholders for acquiring the entire business and undertaking of RECL through scheme of merger, ETPL on December 16, 2023, acquired control of RECL. The said control is acquired by appointing majority of directors on the board of RECL, appointing and designating representatives of ETPL as the Key managerial personnel and governing policy decisions of RECL by a person or persons acting individually or in concert, including by virtue of management rights of RECL as set out in the BAA. Accordingly, RECL has been consolidated on provisional basis w.e.f. December 16, 2023 in accordance with Ind AS 103 - Business Combination. ETPL will file the scheme of merger with National Company Law Tribunal ('NCLT') in due course. Formulae for the computation of ratios are given in Annexure A. As per Regulation 46(2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, Results are available on Company's website-www.solargroup.com. Annexure A and Interest Service Coverage Ratio is not included in notes due to limitation of characters in xbrl notes of stock exchange. However the company has attached the same in pdf. Single segment 2023-04-01 2023-12-31 Unaudited Consolidated 44588100000.00 268200000.00 44856300000.00 19651500000.00 3536800000.00 478800000.00 3149200000.00 778500000.00 1063700000.00 7616700000.00 36275200000.00 8581100000.00 0.00 8581100000.00 2382700000.00 -148900000.00 2233800000.00 -22100000.00 6325200000.00 0.00 0.00 0.00 0.00 6325200000.00 -1944200000.00 4381000000.00 6008800000.00 316400000.00 4617400000.00 -236400000.00 181000000.00 2 66.40 66.40 0.00 0.00 66.40 66.40 0.00 0.04 Other Expenses 2097900000.00 Other Expenses 7616700000.00 Items that will be reclassified to Profit or Loss -541500000.00 Items that will be reclassified to Profit or Loss -1984700000.00 -541500000.00 -1984700000.00 9500000.00 -40500000.00