SOLARINDS2024-04-012024-06-30 SOLARINDS2024-04-012024-06-30in-bse-fin:OneOperatingExpenses01Member SOLARINDS2024-06-30 SOLARINDS2024-04-012024-06-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532725 SOLARINDS NOTLISTED Solar Industries India Limited Equity 2024-04-01 2025-03-31 2024-08-06 2024-07-30 INR Crores First quarter 13:30:00 14:00:00 2024-08-06 2024-08-06 Not applicable Single segment MANAFACTURING OF EXPLOSIVES AND INITIATING SYSTEMS 2024-04-01 2024-06-30 Unaudited Consolidated 16947800000.00 242900000.00 17190700000.00 8139600000.00 965600000.00 -403400000.00 1311100000.00 274700000.00 399800000.00 2441100000.00 13128500000.00 4062200000.00 0.00 4062200000.00 1076900000.00 600000.00 1077500000.00 0.00 2984700000.00 0.00 0.00 0.00 20700000.00 3005400000.00 45600000.00 3051000000.00 2864600000.00 140800000.00 2838000000.00 213000000.00 181000000.00 2 31.66 31.66 0.00 0.00 31.66 31.66 0.00 0.04 1. The Unaudited Consolidated Financial Results for the quarter ended June 30, 2024 of SOLAR INDUSTRIES INDIA LIMITED (the 'Group') have been reviewed and recommended by the Audit Committee & subsequently approved by the Board of Directors at their respective meetings held on August 06, 2024. The Statutory Auditors of the Company have carried out a limited review of the aforesaid results. 2. 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. 3.The Group has identified 'Explosives and its Accessories', as its only reportable segment as defined under Ind AS 108 - Operating Segments. Accordingly, no separate segment information has been provided. 4. During the quarter ended June 30, 2024, Solar Industries India Limited has partially redeemed 50 unsecured, rated, listed, senior, redeemable, non convertible debentures (NCDs) having face value of Rs. 10,00,000/- amounting to Rs. 5.00 crore & made an Interest payment amounting to Rs. 0.71 Crore at a coupon rate of 8.20% per annum. During the quarter ended June 30, 2024, the Company has partially redeemed 292 unsecured, rated, listed, senior, redeemable, non-convertible debentures (NCDs) having face value of Rs. 1,00,000/- amounting to Rs. 2.92 crore & made an Interest payment amounting to Rs. 0.72 Crore at a coupon rate of 8.31% per annum. As on June 30, 2024, the aggregate amount of outstanding amount of NCD is Rs. 62.08 crore. 5.The Group has applied Ind AS 29 'Accounting of Hyperinflationary economies' on its step-down subsidiaries in Turkey, Ghana and Zimbabwe. In preparing the consolidated financial results for the quarter ended June 30, 2024,the non-monetary assets, liabilities, owner's equity and statement of profit and loss of the aforesaid subsidiaries have been restated to the current measuring unit as on the reporting date by applying consumer price index of the respective economies.The net impact of the aforesaid restatement amounting to Rs. 8.70 crore has been debited to other expenses in the consolidated financial results for the quarter ended June 30, 2024.The impact of said restatements till March 31, 2024 in respect of the aforesaid subsidiaries amounting to Rs. 11.06 crore has been credited in the opening retained earnings as at April 01, 2024. 6.On July 04, 2024,the Group through Solar Mining Services Pty Limited, South Africa, a step-down subsidiary of Solar Industries India Limited has agreed to acquire 73.99% stake of the Problast BS Pty(LLP), South Africa.The transaction is expected to be completed by December 2025. 7.During the previous year, 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 is been consolidated w.e.f. December 16, 2023.The scheme of merger has been filed with National Company Law Tribunal ('NCLT) which is pending for approval. 8.Formulae for the computation of ratios are given in Annexure A. Other Expenses 2441100000.00 Items that will be reclassified to Profit or Loss 55700000.00 55700000.00 10100000.00