Solar Industries India · tone and specificity signals across the available quarters.
Language signals
We believe that from Q3 commercial sales of Pinaka will start at the same time the orders which we have generated for other products will also start ramping up from Q3. That's why we mentioned from Q3 we will see a significant growth from defense.
Out of almost 15,500 crores, almost 8,000 crores is from international markets and we are likely to receive more orders as we move ahead. So there is definitely a big shortage of these products in the global ammunition markets.
The margin for the quarter stands at around 28%. We are very happy to announce that we have performed as guided at the beginning of the year. As far as margins are concerned on quarter-to-quarter basis, we operate in so many different sectors and geographical environments. So the average margin and the potential what we have covered for this year stands at around 27%.
We cannot provide any specific quantum which we are looking for [for new defense orders]. These things will improve from Q3 and Q4 we should be able to reach to the targeted levels of around 90 days of working capital so we don't see much problem on that side.
International orders will also keep converting at a larger level. So from Q4 onwards I think you can see better numbers from India as well as overseas markets.
We are confident that we should be able to maintain the margins around 27-28% as we move forward also.
Growing at 20% plus is not at all difficult for Solar at this stage for next 3 to 5 years down the line.
Once Pinaka will also start in Q4 will grow up and these international orders will also keep converting at a larger level.
We are targeting to achieve a revenue of 14,000 crores in FI27 while maintaining current margins.
Our defense business has nearly doubled delivering outstanding growth with revenue surging 134% in Q4 and 94% for the full year.
We are not afraid from anyone but market opportunities are immense where everybody will have its own pile.