This industrial explosives company saw its stock climb 1.69% on Tuesday following the announcement of a significant Rs. 887 crore order. This surge comes as the company secured a major two-year contract to supply blasting materials to Singareni Collieries Company Limited, one of India’s premier coal mining companies.
Share Price Movement
The share price of Solar Industries Limited went up by 1.69 percent to Rs. 9,976 per share on Tuesday, an increase from its previous close of Rs. 9,887.65 per share. Over the past 6 months, the share has delivered returns of over 11 percent. The market capitalisation now stands at approximately Rs. 90,990 crores as of November 05, 2024.
What Happened
Solar Industries India Limited has announced they have secured an order valued at Rs. 887 crore from Singareni Collieries Company Limited as of November 5, 2024. This order is for the supply of SME explosives, LDC explosives, and initiating systems, which will be used for blasting overburden.
The delivery of these products is scheduled to take place over the next two years. This contract strengthens their commitment to providing high-quality explosives and solutions to the mining industry, supporting efficient operations, and reinforcing our presence in this sector. This will be a substantial addition to the existing order book, and it will bring its value to 5,641 from Rs. 4,754 crore, an 18.6% increase.
Financial Performance
The company’s consolidated net profit has increased by 49 percent, from Rs. 202 crore in Q2 FY24 to Rs. 301 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit is up by 23.86 percent QoQ from Rs. 243 crore.
The company’s EPS has increased by 21.86 percent, from Rs. 25.98 in Q2 FY25 to Rs. 31.66 in Q2 FY25.
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Shareholding Pattern
As of the November 2024 shareholding pattern, Solar Industries India Limited has majorly held a promoter at 73.15 percent, foreign institutional investors hold 7.53 percent, and the public has 6.64 percent.
About the company
Solar Industries India Limited, established in 1995, has emerged as a global leader in industrial explosives and defence solutions manufacturing. Based in Nagpur, Maharashtra, the company operates the world’s largest packaged explosives manufacturing facility and has expanded its footprint to over 65 countries, with manufacturing units in five nations.
The company’s impressive portfolio spans from industrial explosives and initiating systems to advanced defence products, including propellants for missile systems and ammunition. Under the leadership of Managing Director Manish Nuwal, the company has shown remarkable growth, with revenues reaching Rs. 3,718 crore in 2024. The company has maintained strong partnerships with industry giants like Coal India Limited.
Written By Fazal Ul Vahab C H
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