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Solar Industries Secures ₹2,039 Crore Export Order for Defence Products

Updated on: Dec 3, 2024, 12:55 PM IST
Solar Industries India Limited bags ₹2,039 crore export orders for defence products, marking another milestone in global market expansion.
Solar Industries Secures ₹2,039 Crore Export Order for Defence Products
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Solar Industries India Limited (SIIL), a flagship company of the Solar Group led by Mr Satyanarayan Nuwal, continues its remarkable journey from trading explosives in 1983 to becoming a global leader in explosive manufacturing and defence products. With its roots firmly established in mining and infrastructure, SIIL has also expanded into the defence sector, showcasing its versatile capabilities.

A Snapshot of Solar Industries’ Journey

Starting with explosive trading in 1983, SIIL ventured into manufacturing in 1996. Today, the company operates 32 manufacturing plants across nine Indian states and seven overseas units in countries such as Zambia, Ghana, Nigeria, Turkey, South Africa, Tanzania, and Indonesia. The company’s defence portfolio includes propellants for missiles and rockets, warheads, and warhead explosives, further bolstering its global footprint.

The ₹2,039 Crore Export Order

SIIL recently announced a significant milestone: an export order worth ₹2,039 crore for defence products. This international order, to be executed over a span of four years, highlights the company’s robust capabilities and its growing recognition in the global defence market.

Details of the Order

  • Nature: Supply of defence products.
  • Timeframe: 4 years.
  • Awarding Entity: International clients.
  • Promoter Involvement: The promoter group has no interest in the awarding entity, and the order does not fall within related-party transactions.

Impressive Market Performance

Share price of Solar Industries opened with a gap-up on December 3, 2024 and currently, the stock is trading higher by 4%. On a year-to-date (YTD) basis, the share price of Solar Industries India has surged by 57%. 

Innovative Excellence

SIIL is not just a manufacturing powerhouse but also a centre of innovation. Its dedicated Centre of Excellence ensures the life assessment of explosives and ammunition, keeping it ahead in quality and technology.

A Glimpse into the Future

With consistent milestones like this export order, Solar Industries is poised to strengthen its leadership position in the explosives and defence sectors. The company’s global strategy and focus on innovation make it a notable player in international markets.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 3, 2024, 12:55 PM IST

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