SOLARINDS2023-01-012023-03-31 SOLARINDS2023-01-012023-03-31 SOLARINDS2023-01-012023-03-31in-bse-fin:OneOperatingExpenses01Member SOLARINDS2023-01-012023-03-31in-bse-fin:FourOperatingExpenses01Member SOLARINDS2023-03-31 SOLARINDS2023-01-012023-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member SOLARINDS2023-01-012023-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member SOLARINDS2023-01-012023-03-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member SOLARINDS2023-01-012023-03-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532725 SOLARINDS NOTLISTED Solar Industries India Limited Equity 2022-04-01 2023-03-31 2023-05-03 2023-04-26 INR Crores Yearly 12:45:00 14:15:00 2023-05-03 2023-05-03 true Cash Flow Indirect Declaration of unmodified opinion Single segment MANAFACTURING OF EXPLOSIVES AND INITIATING SYSTEMS 2023-01-01 2023-03-31 Audited Consolidated 19285400000.00 113400000.00 19398800000.00 8280100000.00 3644100000.00 -17300000.00 992700000.00 312400000.00 353100000.00 2811200000.00 16376300000.00 3022500000.00 0.00 3022500000.00 737500000.00 76900000.00 814400000.00 0.00 2208100000.00 0.00 0.00 0.00 -2300000.00 2205800000.00 -198100000.00 2007700000.00 2061000000.00 144800000.00 2022800000.00 -15100000.00 181000000.00 2 22.78 22.78 0.00 0.00 22.78 22.78 0.00 0.03 1The Audited Consolidated Financial Results for the quarter and year ended March 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 meeting held on May 03, 2023. The Company confirms that its statutory auditors, have issued audit report with unmodified opinion on the consolidated financial results for the quarter and year ended March 31, 2023. 2 These results have been prepared in accordance with the Indian Accounting Standard (referred to as “Ind AS”) 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. 4 During the financial year 2022-2023 , the Company has issued Commercial Papers (CPs) amounting to Rs. 50 crore each on October 18, 2022 and on November 21, 2022. The total outstanding CPs amounts to Rs. 50 crore as at March 31, 2023 which will mature on May 20, 2023. The Company's issuance of CPs have been rated by ICRA Limited as A1+.5 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 quarter and year ended March 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. 47.80 crore has been debited to other expenses for the year ended March 31, 2023. The aforesaid restatement resulted in increase of Rs. 86.89 crore and increase of Rs. 134.69 crore in Revenue from operations and Other Expenses respectively for the year ended March 31, 2023. Considering that the presentation currency of the Holding Company is INR, the restatement of comparative figures in consolidated financial results is not required. The impact of said restatements till March 31. 2022 in respect of the aforesaid subsidiaries amounting to Rs. 24.15 crore has been credited in the opening retained earnings as at April 01, 2022.6 During the financial year 2022-23, the Group has issued 600 unsecured, rated, listed, senior, redeemable, non-convertible debentures (NCDs) having face value of Rs. 10,00,000/- each amounting to Rs. 60 crores at a coupon rate of 8.20% per annum. The said NCDs were allotted on December 23, 2022 and are redeemable in 12 equal quarterly instalment starting from March 23, 2023 till the end of 3 years from the date of allotment with a call and put option available to the Group and the holders to redeem the NCDs post the completion of 2 years from the date of allotment. The Group has partially redeemed 50 debentures of Rs. 10,00,000/- each amounting to Rs. 5 crore and made an interest payment amounting to Rs. 1.21 Crore at a coupon rate of 8.20% per annum on March 23, 2023. 7 Formulae for the computation of ratios are given in Annexure A 8 The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to-date figures up to the third quarter of the respective financial years. 9 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 is not included in notes due to limitations of 4000 character in XBRL Notes of Stock Exchange. However the Compny has attached the same in pdf. Single segment 2022-04-01 2023-03-31 Audited Consolidated 69225300000.00 315200000.00 69540500000.00 38195400000.00 5602200000.00 -373900000.00 3527200000.00 903800000.00 1282100000.00 9385200000.00 58522000000.00 11018500000.00 0.00 11018500000.00 3140300000.00 -236200000.00 2904100000.00 0.00 8114400000.00 0.00 0.00 0.00 -2700000.00 8111700000.00 -316300000.00 7795400000.00 7571900000.00 539800000.00 7442700000.00 352700000.00 181000000.00 2 0.00 83.68 83.68 0.00 0.00 83.68 83.68 0.00 0.04 Other Expenses 2811200000.00 Other Expenses 9385200000.00 1403600000.00 16140400000.00 2794000000.00 106600000.00 771300000.00 26300000.00 785100000.00 171400000.00 1594100000.00 2550600000.00 1275100000.00 1684700000.00 25349000000.00 10979900000.00 200000000.00 8252800000.00 2450400000.00 150500000.00 117600000.00 366800000.00 11538100000.00 2495500000.00 25013500000.00 50362500000.00 181000000.00 25922400000.00 26103400000.00 27507000000.00 4727100000.00 189500000.00 4916600000.00 26400000.00 1589300000.00 6532300000.00 6965200000.00 4884800000.00 751100000.00 12601100000.00 2952100000.00 141600000.00 628400000.00 16323200000.00 22855500000.00 50362500000.00 903800000.00 -3891900000.00 -3233400000.00 0.00 -183500000.00 0.00 0.00 0.00 0.00 239800000.00 0.00 1801800000.00 0.00 1282100000.00 0.00 0.00 0.00 0.00 0.00 243500000.00 163100000.00 0.00 0.00 0.00 0.00 0.00 1091300000.00 0.00 0.00 -1909600000.00 9108900000.00 0.00 0.00 0.00 2544100000.00 0.00 6564800000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4791100000.00 0.00 469900000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 60200000.00 0.00 48700000.00 0.00 0.00 0.00 0.00 59700000.00 0.00 0.00 0.00 -5189800000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5036300000.00 2249200000.00 0.00 61300000.00 678700000.00 865500000.00 0.00 0.00 1181600000.00 2556600000.00 -952900000.00 1603700000.00 846700000.00 2450400000.00 Items that will not be reclassified to Profit or Loss -4300000.00 Items that will not be reclassified to Profit or Loss 319800000.00 -4300000.00 319800000.00 -1100000.00 74400000.00 Items that will be reclassified to Profit or Loss -234100000.00 Items that will be reclassified to Profit or Loss -683500000.00 -234100000.00 -683500000.00 -39200000.00 -121800000.00