Solar Inds bags orders worth Rs 1563-cr from Singareni Collieries

Solar Industries India said that the company and its subsidiary have received orders worth Rs 1,563 crore from Singareni Collieries Company.

The order is for supply of SME explosives, LDC explosives and accessories for blasting of OB, to be delivered over a period of two years.

The Solar group is one of the largest domestic manufacturer and supplier of bulk and cartridge explosives, detonators, detonating cords, and components. It has manufacturing facilities in 25 locations in India, and plants in Nigeria, Zambia, South Africa, and Turkey.

The company reported 84.45% rise in consolidated net profit to Rs 167.89 crore on a 66.40% increase in sales to Rs 1316.85 crore in Q4 FY22 over Q4 FY21.

The scrip shed 0.90% to currently trade at Rs 2971.05 on the BSE.