Solar Industries shares skyrocket 10% on securing order worth Rs 2,039 cr

Solar Industries share price: Explosives company Solar Industries shares were in demand on Tuesday, December 3, 2024, as the scrip zoomed up to 9.54 per cent to hit an intraday high of Rs 11,549 per share. 

 

The northward move in the Solar Industries’ scrip came after the company announced that it has secured an order worth Rs 2,039 crore from international clients.

 

In an exchange filing, Solar Industries, said, “We are pleased to share that our company, Solar Industries India Limited and its subsidiary have received export orders worth Rs 2,039 crore for supply of defence products.”

 

Under the terms of the order, Solar Industries will be responsible for the supply of defence products for international clients, the company said. 

 

The order is expected to be delivered over a period of 4 years, Solar Industries revealed.

 

Solar Industries Q2 results

 

Solar Industries’ profit zoomed 45 per cent year-on-year (Y-o-Y) to Rs 304 crore in the September quarter of financial year 2025 (Q2FY25), from Rs 209 crore in the September quarter of financial year 2024 (Q2FY24).

 

The company’s revenue from operations, or topline, soared 27 per cent Y-o-Y to Rs 1,716 crore in Q2FY25, from Rs 1,347 crore in Q2FY24. 

 

At the operating front, earnings before interest, tax, depreciation and amortisation (Ebitda) climbed 38 per cent annually to Rs 475 crore in Q2FY25, from Rs 377 crore in the same quarter a year ago (Q2FY24). Subsequently, Ebitda margin expanded to 27.7 per cent in Q2FY25, from 25.52 per cent in Q2FY24. 

 

About Solar Industries

 

Solar Industries is among the largest domestic manufacturers of bulk and cartridge explosives, detonators, detonating cords and components which find applications in the mining, infrastructure and construction industries. The company makes high-energy explosives, delivery systems, ammunition filling and pyros fuses for the defence sector. 

 

Its global footprint expands to more than 82 countries with 39 manufacturing facilities in 8 countries. 

 

The market capitalisation of Solar Industries is Rs 98,071.76 crore, according to BSE. The company falls under the BSE 200 category. 

 

The 52-week high of Solar Industries is Rs 13,300 per share, while its 52-week low is Rs 5,910 apiece.

 

At 10:01 AM, Solar Industries shares were trading 2.80 per cent higher at Rs 10,837.85 per share. In comparison, BSE Sensex was trading 0.29 per cent higher at 80,478.44 levels.