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Solar Industries India Ltd.

BSE: 532725 Sector: Industrials
NSE: SOLARINDS ISIN Code: INE343H01029
BSE 00:00 | 28 Feb 1153.65 -27.25
(-2.31%)
OPEN

1144.25

HIGH

1202.35

LOW

1134.10

NSE 00:00 | 28 Feb 1158.00 -21.95
(-1.86%)
OPEN

1166.60

HIGH

1199.95

LOW

1133.05

OPEN 1144.25
PREVIOUS CLOSE 1180.90
VOLUME 935
52-Week high 1350.00
52-Week low 929.05
P/E 45.19
Mkt Cap.(Rs cr) 10,441
Buy Price 1155.00
Buy Qty 9.00
Sell Price 1215.00
Sell Qty 1.00
OPEN 1144.25
CLOSE 1180.90
VOLUME 935
52-Week high 1350.00
52-Week low 929.05
P/E 45.19
Mkt Cap.(Rs cr) 10,441
Buy Price 1155.00
Buy Qty 9.00
Sell Price 1215.00
Sell Qty 1.00

Solar Industries India Ltd. (SOLARINDS) - Company History

Solar Industries India Limited is engaged in manufacturing of complete range of industrial explosives and explosive initiating devices. It manufactures various types of packaged emulsion explosives bulk explosives and explosive initiating systems. The company has also forayed into manufacturing of ammunition for military applications. The company has the world's largest packaged explosives manufacturing facility at a single location in Nagpur India. The company has pan India presence with 25 manufacturing facilities. At the global level Solar Industries has presence in more than 51 countries with manufacturing facilities in 5 countries. Solar Industries supports major mining and infrastructure companies including global names such as Coal India Limited Singareni Collieries Vedanta Ltd and many more in global market.Solar Industries India Ltd was incorporated on February 24 1995 with the name Solar Explosives Limited. The company was promoted by Satyanarayan Nuwal Nandlal Nuwal and Kailashchandra Nuwal. By the year 1996 Solar established trade network as well as Institutional market.The company started manufacturing Slurry Explosives in the year 1996 and Detonating Cords in the year 1998. With the success of this unit they forayed into manufacturing of Detonators through Economic Explosives Ltd non-Explosive intermediaries through Solar Components Pvt Ltd and Bulk Explosives through Solar Capitals Ltd.In September 2005 the company acquired all the shares from the promoters of Economic Explosives Ltd Solar Capitals Ltd and Solar Component Ltd by swapping their holding with the shares of the company to make the three companies as their wholly owned subsidiaries.During the year 2005-06 the company commissioned a 10000 MT capacity bulk explosives plant at Jharsiguda in Orissa to meet the requirement of Mahanadi Coal Fields Ltd. Also they commissioned 10000 MT capacity Plant for manufacture of bulk explosives in Ramgarh Jharkhand State to meet the requirement of Central Coal Fields Ltd. During the year 2007-08 the company incorporated Somu Steels & Power Ltd as wholly owned Subsidiary of the company. They acquired 74% Shares of Navbharat Coalfields Ltd a company located at Raipur engaged in the business of mining & minerals business. Thus Somu Steels & Power Ltd became a subsidiary of the company. Also they incorporated a new overseas subsidiary company namely Solar Nitrochemicals Ltd at Tanzania. The company successfully commissioned 9 Bulk plants at various locations. Also they started operations with TISCO in Jharkhand.During the year 2008-09 the company's wholly owned subsidiaries Solar Capital Ltd and Solar Industries Ltd merged with the company with effect from April 1 2008. Also the company changed their name from Solar Explosives Ltd to Solar Industries India Ltd. In addition they formed a JV company with the Chhattisgarh Mineral Development Corporation in association with SMS Infrastructure for two coal blocks at Bhatgaon Chhattisgarh.During the year the company incorporated PT Solar Mining Resources at Indonesia as wholly owned Subsidiary of the company. Also they incorporated three new overseas subsidiaries companies namely Solar Recursos Minerals LDA Solar Industrias LDA Solar Agro Florestal LDA at Mozambique as wholly owned subsidiaries of the company.During the year 2009-10 the company incorporated two new Overseas Subsidiary Companies namely Solar Overseas Mauritius Ltd at Mauritius and Solar Overseas Netherlands Cooperatie U.A. at Netherlands. Also the company transferred their shares in Somu Steels & Power Ltd to other shareholders and thus Somu Steels & Power Ltd ceased to be a subsidiary of the company. In 2010 Solar Industries forayed into defence segment. In 2012 Solar Industries set up manufacturing units at Zambia Nigeria and Turkey. In 2013 the company set up manufacturing facilities of HMX and Propellants. During the year the company commenced manufacturing of 3-layer shock tubes. It also commenced commercial production of electronic detonators during the year. The company introduced underground bulk explosives during the year.In 2015 Solar Industries commenced supply of HMX and HMX compounds. In 2016 the company set up facilities to manufacture Warhead Filling Pyros Ignitors Propellants for Pinaka Mark-II. During the year the company set up manufacturing facility in South Africa. The Board of Directors of Solar Industries India Ltd at its meeting held on 16 May 2016 approved the sub-division of the equity shares of the company from one share of face value of Rs. 10/- per share into 5 shares of Rs. 2/- per share and recommended the same for the approval of shareholders by Postal ballot.On 10 June 2016 Solar Industries India Ltd informed the stock exchanges that the company has bagged an order from Singareni Collieries Company Limited (SCCL) for the supply of explosives worth Rs 443.44 crore for the financial years 2016-17 and 2017-18.On 18 September 2017 Solar Industries announced that Solar Overseas Netherlands B.V. a step down overseas subsidiary of the company has increased its stake in Solar Patlayici Maddeler Sanayi Ve Ticaret Anonim Sirketi from 74.5% to 100% which is also step down overseas subsidiary of the company. On 1 November 2017 Solar Industries India Limited announced that it has bagged the running contract for supply of Bulk Explosives to the subsidiaries of Coal India Limited amounting to Rs 1143.63 crore.Defence Minister Nirmala Sitharaman handed over ToT for mass production of a crucial solid propellant booster of Brahmos to Economic Explosives Limited a wholly owned subsidiary of Solar Industries India Limited (Solar Group) during the 'Defence Industry Development' meet organised by Department of Defence Production Ministry of Defence (MOD) at Chennai on 18 January 2018. This is the latest step towards self-sufficiency in production of propulsion system for Brahmos missile being imported from Russia. Solar Group is accessing technology transfer from DRDO for Brahmos. Solar Industries' wholly two owned subsidiaries Solar Mines & Minerals Limited and Solar Mining Resources Limited and its associate company Solar Initiating Systems Limited (Transferor Companies) were merged with Economic Explosives Limited (Transferee Company) another wholly owned subsidiary of Solar Industries with effect from 1 April 2017 pursuant to NCLT order dated 16 March 2018.Solar Industries and EURENCO the European leader in energetic materials announced during the EUROSATORY 2018 exhibition in Paris-Villepinte (June 11-15) a strategic partnership agreement related to the supply of Explosives Propellants Transfer of Technology projects and to a common offer for the Bi-Modular Charge System (BMCS) project in India. EURENCO is ready to collaborate with Solar Industries for the supply of Propellants Bombs Ammunition filling and Modular Charges technologies under the Make in India policy for the private sector. Solar Industries is willing to build dedicated infrastructure facilities with the technical assistance of EURENCO on its explosive and propellant facilities in Nagpur India. The new facility would include Propellant Plants one of the key components of Modular Charges Bombs and Ammunition filling capabilities.