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Solar Industries Secures ₹399 Crore Defence Export Order

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Synopsis:

Solar Industries Ltd. bags a ₹399 crore export order for defence products, to be fulfilled over three years. Despite recent corrections, Solar Industries share price has grown by 47% in 2024.

Solar Industries news today

Solar Industries Ltd., a leading explosives and defence manufacturing firm, recently announced a major export contract valued at ₹399.4 crore. The order, awarded by an undisclosed international client, mandates Solar Industries to supply defence products over a three-year period. This contract reinforces Solar Industries’ expanding presence in global defence markets and highlights its growing capabilities in this critical sector.

SOLAR INDUSTRIES (I) LTD

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10017.5129.84 (1.31 %)

Updated - 05 November 2024
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Order timeline and execution

The company has committed to completing the defence supply contract within the designated three-year timeline. While Solar Industries has not revealed details regarding the specific products or the client, this order signals an increasing demand for Indian-manufactured defence products in the international market. The addition of this contract to its portfolio is expected to further bolster Solar Industries’ revenue, which has consistently shown growth across defence-related operations.

Recent performance of Solar Industries share price

Shares of Solar Industries Ltd. were trading 4.5% lower at ₹9,950 following the news. The stock has witnessed a substantial correction from its peak of ₹13,298, representing a 25% decline. Despite this dip, Solar Industries share price has demonstrated strong overall performance in 2024, gaining 47% year-to-date. Over the past few years, the company has delivered significant returns, achieving an impressive 121% growth in 2021, 81% in 2022, and 53% in 2023. With a current market capitalisation of approximately ₹90,000 crore, Solar Industries remains one of India’s notable players in the defence sector.

Solar Industries’ steady growth trajectory

The new export order is a strategic addition to Solar Industries’ expanding order book and signals a strengthening of its international footprint. As one of India’s primary providers of explosives and defence supplies, the company’s consistent contract wins reflect its position within the growing defence export market. Although Solar Industries has yet to disclose its updated total order book, this latest contract is expected to support the company’s long-term revenue goals.

Future outlook for defence manufacturing

As global defence spending rises, Solar Industries’ strategic entry into new markets aligns with India’s broader defence export objectives. The company’s focus on fulfilling these orders efficiently over the next three years could enhance its reputation as a reliable supplier in the defence sector. Investors will continue to monitor Solar Industries share price for trends as the company executes this high-value contract and pursues further international expansion within defence manufacturing.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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