Solar Industries Secures ₹239 Crore Defence Contract for Indian Army

Solar Industries India Limited announced that its wholly owned subsidiary, Solar Defence and Aerospace Limited (formerly Economic Explosives Limited), has secured a contract from the Ministry of Defence, Government of India.

Details of the Order

The contract is for the supply of Multi-Mode Hand Grenades and is set to be executed within a year. The company stated that the contract is worth ₹239 crore.

This domestic contract underscores Solar Industries’ growing role in India’s defence manufacturing sector. The company has been a key supplier of high-tech defence solutions, aligning with the government’s ‘Make in India’ initiative to strengthen indigenous defence capabilities.

Q3 and 9M FY 2025 Financial Highlights

In Q3 FY25, the company reported a significant 38% year-on-year (YoY) increase in net revenue, reaching ₹1,973 crore compared to ₹1,429 crore in Q3 FY24. The Profit After Tax (PAT) for the quarter also saw strong growth, rising by 52% to ₹338 crore from ₹222 crore in the same period last year.

For the nine-month period of FY25, net revenue stood at ₹5,374 crore, marking a 21% YoY growth from ₹4,459 crore in 9M FY24. PAT for the same period surged by 49%, reaching ₹942 crore compared to ₹633 crore in the previous year.

Conclusion

With this order, Solar Industries continues to expand its presence in the defence sector, demonstrating its capability in supplying advanced weaponry to the armed forces. The successful execution of this contract will further enhance its position as a trusted defence supplier, contributing to national security and self-reliance in military equipment production.

On March 5, 2025, Solar Industries India share price (NSE: SOLARINDS) opened at ₹9,053.00, up from its previous close of ₹9,038.40. At 9:32 AM, the share price of Solar Industries India was trading at ₹9,134.20, up by 1.06% on the NSE.

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