Solar Industries announced on Friday, February 28, that it, along with its subsidiary, has secured supply orders worth ₹2,150 crore for defence products. These orders, awarded by an international entity, are set to be completed within six years.
However, earlier this month, the company’s management indicated that it would fall short of its 30% revenue growth target for FY25, primarily due to a slowdown in the domestic market. While the defence revenue forecast remains steady, it may fluctuate by 5-10%.
The timeline for executing the Pinaka order is estimated between 8-12 years. Despite the lower revenue growth outlook, the company expects its profit margins to improve.
For the December quarter, Solar Industries reported a 55% increase in net profit, reaching ₹314.87 crore. Revenue for the period stood at ₹1,973.08 crore, marking a 38% rise from the previous year’s ₹1,429.14 crore. EBITDA surged by 48% to ₹527 crore, up from ₹355.3 crore, with margins expanding to 26.7% from 25%. In December 2024, the company also secured another defence supply order valued at ₹2,039 crore, with a four-year completion timeline from international clients.
Solar Industries India Limited is a leading manufacturer of industrial explosives and ammunition, with a significant presence in both domestic and international markets. Established in 1995, the company has grown into a trusted provider of high-energy materials, catering to sectors such as mining, infrastructure, and defense.
Headquartered in Nagpur, Solar Industries is recognized for its state-of-the-art manufacturing facilities and a strong commitment to innovation, quality, and safety standards. In recent years, the company has expanded into the defense sector, producing a range of products including propellants, warheads, and other munitions, contributing to India’s self-reliance in defense manufacturing. With a focus on sustainable practices and a robust global footprint, Solar Industries continues to play a pivotal role in supporting critical industries and national security while driving economic growth.
