Solar Inds rallies on bagging orders worth Rs 2,039 cr

Solar Industries India gained 2.83% to Rs 10,840.80 after the company and its subsidiary received export orders worth Rs 2,039 crore for supply of defence products.

The order is to be delivered over a period of 4 years to an international entity.

Solar Industries India (SIIL) is the flagship company of the Solar Group. SIIL, along with its subsidiaries, manufactures bulk explosives, packaged explosives, and initiating systems, which find application in the mining, infrastructure, and construction industries. The Group forayed into the defence sector in 2010 and diversified into the manufacturing of propellants for missiles and rockets, warheads, and warhead explosives.

The company's consolidated net profit jumped 42.8% to Rs 285.88 crore on a 27.3% rise in net sales to Rs 1,715.83 crore in Q2 FY25 over Q2 FY24.

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