Solar Industries bags explosives supply contract from CIL worth Rs 402 crore

Solar Industries India said that it has bagged orders worth Rs 402 crore from Coal India (CIL) for supply of cartridge explosives & accessories.

The domestic supply contract would be executed over a period of two years.

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 rose 54.86% to Rs 314.87 crore on a 38.06% increase in sales to Rs 1,973.08 crore in Q3 FY25 as compared with Q3 FY24.

The scrip rose 0.27% to currently trade at Rs 16,145.75 on the BSE.

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