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Solar Industries is one of the largest domestic manufacturers of bulk and cartridge explosives, detonators, detonating cords and components which find applications in the mining, infrastructure and construction industries.Company manufactures high-energy explosives, delivery systems, ammunition filling and pyros fuses for the defence sector.
ICRA reaffirms Solar Industries India's Commercial Paper rating at [ICRA]A1+. This reflects the company's strong market position in commercial explosives & a growing defence segment with a robust Rs. 21,000 Cr order book. Healthy financials and operational strength support the stable rating.
The Exchange has sought clarification from Solar Industries India Limited with respect to recent news item captioned Solar Industries likely to acquire big global firm in South Africa, reports CNBC-Awaaz; shares rise 4.5%. The response from the Company is attached.
Solar Industries reported record quarterly results: Revenue at 3,668 Cr (+70% YoY), PAT at 666 Cr (+89% YoY). Defence business surged 123%, international explosives 65%. A 21,350 Cr order book supports future growth. Company guides 14,000 Cr revenue for the current fiscal year.