The global industrial explosives market has been the subject of heightened interest in recent weeks, with one major player in the industry making headlines. This chemical company has secured a significant international export order valued at a staggering ₹2,039 crore to supply defence products.
This development has not gone unnoticed, as the company’s share price has seen a remarkable 10% increase, reflecting the market’s positive sentiment towards this new contract.
Share Price Movement
The share price of Solar Industries Limited went up by 10 percent to Rs. 11,597 per share on Tuesday, an increase from its previous close of Rs. 10,540.65 per share. The market capitalisation now stands at approximately Rs. 98,474 crore as of December 03, 2024.
What happened
Solar Industries India Limited, along with its subsidiary, secured a ₹2,039 crore export contract from international clients for supplying defence products. The deliveries are scheduled over four years.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Solar Industries’s consolidated revenue from operations has increased by 27.4 percent YOY from Rs. 1,347 crore in Q2 FY24 to Rs. 1,716 crore in Q2 FY25 and increased by 1.8 percent QoQ from Rs. 1,685 crore in Q4 FY24.
The company’s consolidated net profit has increased by 45.4 percent, from Rs. 209 crore in Q2 FY24 to Rs. 304 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 1 percent QoQ from Rs. 301 crore.
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Market Outlook
The global industrial explosives market is experiencing steady growth, driven by increasing demand in the mining, construction, and infrastructure sectors. This growth is propelled by factors like population expansion, urbanisation, and technological advancements. The Asia-Pacific region is a significant consumer, with emerging economies like India witnessing a surge in demand for industrial explosives.
India’s explosives industry is also seeing steady growth, with the market expected to reach a value of USD 1.5 billion by 2028. The industry’s expansion is closely tied to the growth in mining, quarrying, and infrastructure development within the country.
Shareholding Pattern
As of the December 2024 shareholding pattern, Solar Industries Limited is primarily held by the promoters at 73.15 percent, foreign institutional investors hold 7.53 percent, and the public with 6.64 percent.
About Company
Solar Industries India Limited, founded in 1995, has emerged as a key player in the global explosives market. Headquartered in Nagpur, Maharashtra, the company specialises in industrial explosives and initiating systems. With operations spanning over 65 countries and manufacturing facilities in five nations, Solar Industries exemplifies India’s industrial innovation. The company employs nearly 1,890 individuals and delivers critical solutions for mining, construction, and defence sectors.
The company’s product portfolio includes packaged and bulk explosives, electronic and non-electric detonators, and advanced defence materials. Notably, it is the first private entity in India to manufacture RDX, HMX, and TNT, producing high-energy materials for missile propellants and ammunition. Solar Industries caters to renowned clients such as Coal India Limited and Tata Group while holding the world’s largest packaged explosives facility in Nagpur.
Solar Industries thrives through innovation and strategic expansion. Its investments in cutting-edge technologies and international markets solidify its position as a trusted name in industrial and defence applications.
Written By Fazal Ul Vahab C H
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